When you hit retirement age ....

zerocool2009

zerocool2009

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Anyone retired now ... looking at the finances and thinking "shacks, which I did this or that differently or in another way"
 
To retire at 60 nowadays for the majority of people here in ZA is quite difficult. I have seen of late loads of ou toppies and ooms working well into their 70's.
 
Do people still believe in this concept of "retirement", i.e. some day when you just stop working and do nothing? I think that's very old fashioned, TBH. I will always be doing something. From my observation of older relatives, the day they retire is the day they start dying - long term inactivity is the biggest killer of the elderly, physically and mentally, and surely not what otherwise mobile humans were designed to do. Sure, I can understand changing your lifestyle and choosing something less demanding, time consuming or more pleasurable to do if it's something that won't pay as much and you have the luxury of not requiring a full income, but the concept of doing nothing? Nope not for me.
 
RedViking said:
Well not really as he still has to do maintenance and upkeeping. Or is being a caretaker not considered a job?
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pottering around at home taking the old ladies garbage out once a week doesnt count as full time job
I'm glad I wasn't young when I found fame... I'd have waltzed off with Abi Titmuss,' | Daily Mail Online
 
Honest question to those who cannot retire at the usual age, how come?

Not close to any form of retirement age myself, but interesting thread zero.
 
garp said:
Do people still believe in this concept of "retirement", i.e. some day when you just stop working and do nothing? I think that's very old fashioned
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Agreed. Most I think would like the freedom to decide and pace themselves, rather than not do anything and laze about.
 
r4nd0m said:
Honest question to those who cannot retire at the usual age, how come?

Not close to any form of retirement age myself, but interesting thread zero.
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On a serious note I think @Gordon_R has hit the sweet spot of been semi retired.
Thats what i aim to do in 10 years time
To be debt free and just supplement my income as i need the money
Live your life to the fullest
 
r4nd0m said:
Honest question to those who cannot retire at the usual age, how come?

Not close to any form of retirement age myself, but interesting thread zero.
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Majority of the time salary that wasn't high enough to allow for savings (in Cape Town, I'd put anyone <R10k on this basically, depends on rest of household as well though), then there's starting to save too late, or bad investments.

Have a family member who went the extreme route: from no savings at 45 to basically putting away 90% of his salary (max retirement contributions, rest investments) and by the time he hit 55, he could retire quite comfortably. All depends on how much you earn of course, most would not be able to do that as they're still paying off their house/car or kids expenses, etc.
 
r4nd0m said:
Honest question to those who cannot retire at the usual age, how come?

Not close to any form of retirement age myself, but interesting thread zero.
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Citation needed on the exact figure - I remember reading that only something like 1 in 10 people contributing to a pension or RA can retire comfortably.

Now take into account people that are not contributing & also take into account shitty investment returns and high fees (which is rife in SA) and that figure is probably close to 1 in a 1000 if not more.
 
You can do as much as you want, save as best you can, and then s#!t happens.
My friends mother retired in 2009, just as the Global Recession hit. 2007 everything was on track, then bang.
Best advise I ever got was to get started on passive income as soon as possible. In essence, you should start earning some form of income prior to retirement which should just continue on, like rental property.
 
NarrowBandFtw said:
anyone on the Smith & Wesson retirement plan?
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Yes, but not for lack of finances, but rather poor health.

Then again if I have a stroke and become incapacitated, my plan falls apart. :unsure:

Damn it NB, now I have to think of something else to counter that.

Sort of off topic, but semi-related, I was watching videos about:
exitinternational.net

History made as Voluntary Assisted Dying Dying becomes Law in WA - Exit International

Share this ContentThe McGowan Government’s Voluntary Assisted Dying Bill will now become law after the lower house signed off on the Legislative Council’s amendments. Western Australia has become the third jurisdiction in the federation – and 19th in the world – to legalise euthanasia, with the...
exitinternational.net exitinternational.net
 
I'm retired and I got into property some years ago and built a small portfolio which I'm now slowly selling off to use as my pension pot and now I want to travel while I'm able to when this bloody virus is done!
 
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