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Investment Analysis Clubs / Macro Economic Trends and Risks
|Subject: Re: Younger Seniors Burning thru IRAs||Date: 5/17/2013 3:44 PM|
|Author: bjchip||Number: 423129 of 473457|
Dunno about you mate, but the idea of continuing to work when my body doesn't is a bit unpleasant, and the notion that the youngsters will put up with having their great granddad of a C programmer telling 'em to comment their code when they can't even spell... nahh... that scenario is impossible.
What is actually happening is:
I'm having a hell of a time staying in work at all at 62.
I'm making less money than I did 10 years ago.
The QE-Infinity mob is removing value from my 401K faster than I'd be putting it in IF I were still working in the USA. There is no return on that investment.
Unlike my situation 10 years from now I currently have 2 dependent children and a dog.
I don't get a dime of inheritance.
So yeah... there will be some withdrawals. I EXPECT to be broke in 20 years time. I also EXPECT to be 82 years old then, and based on our family history I could go on another 20 years after that.
There isn't enough in ANY 401K to do it. Never was. Nor is there work for me to be doing at that age, with the automation keeping the kids out of work too.
I doubt I will "enjoy" it, but my kids will get a decent start.
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