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UPS Retirement Topics
From a VP job to flipping burgers and handing out free samples: Here's a cautionary tale of what can
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<blockquote data-quote="Bagels" data-source="post: 1253072" data-attributes="member: 43436"><p>Financial services encourage people to over save, because there's HUGE monies to be earned from managing & controlling their monies.</p><p></p><p>I work with oodles of guys in their 50s who think that they need $1M in their 401K, in addition to their social security and pensions. Do they realize that by the time they retire, they're nearing the end of their life? To they realize that as they get older, life slows down? Most people in their 70s have no interest in going out to dinner every week, or spending time at Disney World.</p><p></p><p>I live an incredibly fulfilling life -- probably more-so that most of the FTers I work with -- despite earning only about $25K/year. My biggest regret was taking on a second job (I should've returned to school sooner). When I made $40K/year, I lived a "higher" lifestyle; e.g. satellite TV complete with NFL Sunday ticket, spending $3.50/gallon on milk at Safeway rather than going to Aldi's for $1.99 (because of time restraints). The more I made, the more I spent... even though I wasn't really enjoying the "fruit" of it (in other words, I blew my money). </p><p></p><p>People really need to find a balance of needs//wants, & plan/save for now and the future. If you're young, take your family on a vacation to Disney World. Don't wait until you're in your 70s to blow the $$$ Suzzie Orman covinced you to save on video poker.</p><p></p><p>(And FWIW: a full month's social security check at age 65 will pay for an ocean-view apartment & months' worth of food, transportation & other necessities in beautiful, sunny, Panama City, Panama. If there's a will, there's a way!)</p></blockquote><p></p>
[QUOTE="Bagels, post: 1253072, member: 43436"] Financial services encourage people to over save, because there's HUGE monies to be earned from managing & controlling their monies. I work with oodles of guys in their 50s who think that they need $1M in their 401K, in addition to their social security and pensions. Do they realize that by the time they retire, they're nearing the end of their life? To they realize that as they get older, life slows down? Most people in their 70s have no interest in going out to dinner every week, or spending time at Disney World. I live an incredibly fulfilling life -- probably more-so that most of the FTers I work with -- despite earning only about $25K/year. My biggest regret was taking on a second job (I should've returned to school sooner). When I made $40K/year, I lived a "higher" lifestyle; e.g. satellite TV complete with NFL Sunday ticket, spending $3.50/gallon on milk at Safeway rather than going to Aldi's for $1.99 (because of time restraints). The more I made, the more I spent... even though I wasn't really enjoying the "fruit" of it (in other words, I blew my money). People really need to find a balance of needs//wants, & plan/save for now and the future. If you're young, take your family on a vacation to Disney World. Don't wait until you're in your 70s to blow the $$$ Suzzie Orman covinced you to save on video poker. (And FWIW: a full month's social security check at age 65 will pay for an ocean-view apartment & months' worth of food, transportation & other necessities in beautiful, sunny, Panama City, Panama. If there's a will, there's a way!) [/QUOTE]
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