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How well does "expect to never retire" correlate with "actually never retires"?

by bhaney 2y ago

kyleee 2y ago
That would be a good bit of info to know but also the retirement situation is changing quite rapidly by the decade so the correlation may not be as instructive as it could be if things were static
zero-sharp 2y ago
I'm confused. This is about retirement savings and cost of living. If they don't already have a retirement savings, how would they after the age of 50?
- sp332 2y ago
  Downsizing, or debt.
  - zero-sharp 2y ago
    I don't know. If I had the option to downsize and retire, I probably wouldn't go around saying that I expect to never retire.
    - sp332 2y ago
      People do not want to leave the house they've been living in, whether they worked hard to get a big house or their family has been in the house for generations. Moving sucks worse when you're older and have to get used to new things after decades of nothing changing. They don't want to let go of stuff they have collected, especially if they think it's valuable. https://www.reddit.com/r/BoomersBeingFools/comments/1btalt6/telling_boomers_we_are_going_to_throw_the_china/ https://www.reddit.com/r/BoomersBeingFools/comments/1btalt6/...
rufus_foreman 2y ago
The majority of people retire sooner than they want to. "In the Transamerica survey, 56% of retirees said they retired sooner than they had planned. A much smaller share, 7%, retired later than expected. Only 37% retired on their own schedule." ... "nearly half of those who retired earlier than planned blamed their health: physical limitations, illness or disability. Roughly two-fifths blamed their jobs: They were laid off, downsized or lured into early retirement, or they were no longer happy at work." ... "“We ask retirees why they retired sooner than planned and, by and large, it’s due to either personal health issues or employment-related issues. They may get laid off, bought out, reorganized, and it’s extremely difficult for older workers to find work.”" -- https://www.cincinnati.com/story/news/2024/01/26/the-average-age-americans-retire-is-younger-than-you-think/72340284007/ https://www.cincinnati.com/story/news/2024/01/26/the-average... That's a random survey but you will find many others that say the same thing. If you're planning on never retiring, you're not planning.
- vaidhy 2y ago
  This is the survey of people who have already retired. It might be that only 10% of people can afford retirement. This survey has no bearing on those who can not/will not retire.

How well does "expect to never retire" correlate with "actually never retires"?

by bhaney 2y ago

How well does "expect to never retire" correlate with "actually never retires"?

That would be a good bit of info to know but also the retirement situation is changing quite rapidly by the decade so the correlation may not be as instructive as it could be if things were static

zero-sharp 2y ago

I'm confused. This is about retirement savings and cost of living. If they don't already have a retirement savings, how would they after the age of 50?

sp332 2y ago
Downsizing, or debt.
- zero-sharp 2y ago
  I don't know. If I had the option to downsize and retire, I probably wouldn't go around saying that I expect to never retire.
  - sp332 2y ago
    People do not want to leave the house they've been living in, whether they worked hard to get a big house or their family has been in the house for generations. Moving sucks worse when you're older and have to get used to new things after decades of nothing changing. They don't want to let go of stuff they have collected, especially if they think it's valuable. https://www.reddit.com/r/BoomersBeingFools/comments/1btalt6/telling_boomers_we_are_going_to_throw_the_china/ https://www.reddit.com/r/BoomersBeingFools/comments/1btalt6/...

rufus_foreman 2y ago

The majority of people retire sooner than they want to. "In the Transamerica survey, 56% of retirees said they retired sooner than they had planned. A much smaller share, 7%, retired later than expected. Only 37% retired on their own schedule." ... "nearly half of those who retired earlier than planned blamed their health: physical limitations, illness or disability. Roughly two-fifths blamed their jobs: They were laid off, downsized or lured into early retirement, or they were no longer happy at work." ... "“We ask retirees why they retired sooner than planned and, by and large, it’s due to either personal health issues or employment-related issues. They may get laid off, bought out, reorganized, and it’s extremely difficult for older workers to find work.”" -- https://www.cincinnati.com/story/news/2024/01/26/the-average-age-americans-retire-is-younger-than-you-think/72340284007/ https://www.cincinnati.com/story/news/2024/01/26/the-average... That's a random survey but you will find many others that say the same thing. If you're planning on never retiring, you're not planning.

vaidhy 2y ago
This is the survey of people who have already retired. It might be that only 10% of people can afford retirement. This survey has no bearing on those who can not/will not retire.