Monday, May 20, 2013

Retirement Stupidity

The headline says "Many Americans Say They Can't Retire Until Their 70s or 80s". The blurb article then states the survey results show 4 in 10 Americans think they'll have to work into their 70s and 80s (only 1 in 10 says 80s) because they can't afford to retire. They did not link to the actual survey, so who knows how much the LA Times is twisting the facts. The study says the average age of those retired is 59. The media twists the survey to say many expect to work into their 70s/80s, when it is actually a minority of those surveyed. Many can mean anything, but in many people's minds many implies a majority. The real answer for those who said they would have to work after 75 should have been, "I won't retire". If you're lucky enough to be alive after 75, your ass won't be working. Working means being healthy and energetic enough to spend 25+ hours a week under someone else's watch and 10-12 extra hours a week getting ready and commuting to and from work. I see the rosters of hundreds of employers a month. The only folks working after 80 are owners of firms, the owners' moms that they keep on payroll for insurance, and random government employees in sinecures. This survey also reveals the stupidity of Americans of not planning for retirement, not setting up lower expenses in retirement and expecting to live in the same manner when retired as they do while employed.

The steady upbeat voice streaming from the television:

Keep buying Americans. Keep consuming. It will fill the void in your life. By golly, don't the Sanders down the street have a new SUV! Why yes they do, so you should get a boat. Who cares if you can only use it three months out of the year? Who cares about having anything to live on in your 70s? Buy it now! Feeling isolated and unloved in your 50s, buy this and suppress that discomfort, just don't think about the lonely days in the crowded raisin ranch in twenty years!


vultureofcritique said...

Presumably when the typical American says he will retire at 75, what he means is, "My disability claim will be denied when I am 70 and I will eat cat food while working as a Wal-Mart greeter, but then at 75 I will break my hip and at last the government will admit that I am truly unable to work."

Or perhaps he means "I will be denied medical care, so I will overdose on sleeping pills because my family won't be able to take care of me."

Son of Brock Landers said...

The % of employees at firms over age 70 is +/-1%. Even Wilford Brimley shifted from film work to diabetes commercials after 70.

PRCD said...

I think you ought to take very good care of yourself if you plan to work that long. Since the overwhelming majority of 'mericans do not take good care of themselves, they should save. Since they do not save, they should plan on being 'deeply sedated' by doctors working for single payer government insurance.