Why work so long?

[scooby0048]

To each his own. Nobody else will tell me when to retire. That is for me and my wife to decide.
As for the younger workers waiting on spots to open up, too bad. If you really want someone to blame for the long waiting time to go full time, blame UPS. UPS has increased the workload of each driver by 20% to 40% over the last 20 years. That has eliminated a lot of routes, making the wait time to go full time a lot longer.

I agree, this thread isn't about telling people when they should retire, it's just to see the different responses and thoughts on the subject. I am with you, the decision to retire will be mine and my wife's and no one else's.

 

[andrsnbkj]

A lot can change in 8 years, including the elimination of the 25 and out.

True to that I was thinking ahead I could be cripple by then they way the beat the piss out of us lol

 

[Foamer Pyle]

Because 30 years in the Central will only get you $3200 a month right now. Even if your old enough to get medical, that is $400 right now. That leaves you $35000 per year before taxes. Isn't that close to the poverty level?

Yes, that is poverty level for sure.

 

[Brownslave688]

Yes, that is poverty level for sure.

35k is not even close to poverty.

 

[1989]

8 more years I can walk out with a 25 year pension and do something different I do have a 401 k and a Ira and stock so
I'll be good I can't stand the treatment and I'm only 40

Will your pension be enough to support you until you can withdrawal your 401K and IRA. Many pensions have rules about working.

 

[ManInBrown]

We have guys that are pushing 70 with plenty of time in. Everyday they come in ready to work and never bitchin about the day. I admire them but part of me wants to tell them to stop, they've done enough work for a two lifetimes. Now is the time to enjoy whatever it is they enjoy. Be it family, hobbies, sleeping, whatever just take the time and enjoy it. Not being a naysayer but 70 (statistically) is pretty close to end of life especially in a highly stressful and vigorous job like this.

Wow. 70? I don't get that. They have 10 good years left if that. After that its all downhill fast. Why stay that long? Makes no sense. I envy the guys and gals that can bail in their 50s. I have to hope to make it to 62. I started late. Last 6-8 years will have to be feeder is what I'm thinking now.

 

[barnyard]

I covered a route for 3 years before it was put up for bid. I did not win the bid, but covered the route whenever I could. The route was moved to another center and I seriously thought about following the route. I really loved working for the people there and miss them pretty much every day.
I totally get why some people work longer than the 'need' to and will never question someone working however long they decide to work.

 

[OLDMAN3]

I know a retired feeder driver who always said 25 and out for me, no question about it. Well, supporting an adult offspring delayed that. Then a serious illness in the family delayed it again...finally retired with 37 years in. Never say never. My grandpa lived through providing for his wife and 6 kids during the Great Depression. He continued to take care of the people he loved until he passed away at 102. His example of self sacrificial love still inspires me. He lived a great and glorious life filled with joy. I am absolutely positive he is being richly rewarded now in heaven. My mother did the same, living a rich, beautiful, self giving life, never earning enough to be considered above the poverty line. Money certainly isn't everything, and neither is retirement.

 

[scooby0048]

I know a retired feeder driver who always said 25 and out for me, no question about it. Well, supporting an adult offspring delayed that. Then a serious illness in the family delayed it again...finally retired with 37 years in. Never say never. My grandpa lived through providing for his wife and 6 kids during the Great Depression. He continued to take care of the people he loved until he passed away at 102. His example of self sacrificial love still inspires me. He lived a great and glorious life filled with joy. I am absolutely positive he is being richly rewarded now in heaven. My mother did the same, living a rich, beautiful, self giving life, never earning enough to be considered above the poverty line. Money certainly isn't everything, and neither is retirement.

Great story, that's what I'm looking for, the reasons why people work so long whether it's a choice or by necessity. It seems that the current trend is people are working longer and retiring later in life. Twenty years ago, people were retiring around 60-62 years old. Now people are retiring around 65-68 years old.

 

[Mugarolla]

35k is not even close to poverty.

At the moment, I have 4 in my household. The poverty level for that is around $23,300.

That's not too far off.

An 8 hour job is around $5700 per month. That would be a $2200 per month cut in pay.

Now if social security is still around and I start early benefits at 62, I will walk out the door. That would only be a $400 per month cut in pay and my savings would easily cover that.

 

[rod]

There is always that carrot on a stick thing. The sooner you realize its a waste of time trying to catch it the sooner you will realize retirement is good. I'm old enough to know LOTS of retired people now and I can only think of one who is not happy being retired. He owned his own business--sold it for a few million dollars and now complains that he is bored.

 

[Indecisi0n]

Because 30 years in the Central will only get you $3200 a month right now. Even if your old enough to get medical, that is $400 right now. That leaves you $35000 per year before taxes. Isn't that close to the poverty level?

Better than my fathers $0.00 a month pension.

 

[Brownslave688]

At the moment, I have 4 in my household. The poverty level for that is around $23,300.

That's not too far off.

You'd still need a 33% pay cut. Not really close.

I would not advise anyone to retire with 2 kids still in the house.

 

[Mugarolla]

You'd still need a 33% pay cut. Not really close.

I would not advise anyone to retire with 2 kids still in the house.

Agreed. I don't plan on it. You play the cards that you are dealt. I got a late start in life with the kids. First one didn't come along until 10 years into marriage. Didn't want an only child. Second one took 5 years.

But retiring at 50 is one of the reasons most of our pension funds are in trouble. Pensions were not set up to pay 30 plus years. The normal retirement age is 65 and the average life expectancy is 78.

Pensions are designed to pay 13 to 15 years, not 30 plus.

If I didn't have kids or had them earlier, I might work the system and retire when I'm 50 also. But the kids come first. College is expensive. I don't mind working to put them through school.

I eat breakfast with them in the morning, sleep when they're at school, spend 4-5 hours with them in the evening and when they get ready for bed, I go into work.

It's a real good life. I can foresee retiring at 62, but I will have 44 years in.

Life is good!!!

 

[OLDMAN3]

But retiring at 50 is one of the reasons most of our pension funds are in trouble. Pensions were not set up to pay 30 plus years. The normal retirement age is 65 and the average life expectancy is 78.

Pensions are designed to pay 13 to 15 years, not 30 plus.

Actually at age 65 the average life expectancy is 84 (78 is expectancy at birth), so your point is even stronger. My wife's parents have now outlived their well planned out retirement savings at age 85 and age 89. He had multiple heath issues (including several heat attacks) in his 50s and did not expect to live past 75. The amount of savings required for a secure retirement at age 50 is enormous if you plan for death at age 90. We have all seen with the Central States pension debacle that pension security is a tenuous thing. Also Social Security insolvency is projected for 2024-2033, and Medicare for 2026. Guess why Boomers are not retiring...

http://townhall.com/tipsheet/keving...nkruptcy-coming-faster-than-expected-n1634669

 

[Brownslave688]

Actually at age 65 the average life expectancy is 84 (78 is expectancy at birth), so your point is even stronger. My wife's parents have now outlived their well planned out retirement savings at age 85 and age 89. He had multiple heath issues (including several heat attacks) in his 50s and did not expect to live past 75. The amount of savings required for a secure retirement at age 50 is enormous if you plan for death at age 90. We have all seen with the Central States pension debacle that pension security is a tenuous thing. Also Social Security insolvency is projected for 2024-2033, and Medicare for 2026. Guess why Boomers are not retiring...

http://townhall.com/tipsheet/keving...nkruptcy-coming-faster-than-expected-n1634669

I worry about my parents. 99% of their retirement is pension and SS.

 

[bottomups]

I worry about my parents. 99% of their retirement is pension and SS.

Why can't they just move into your basement to save for the future?

 

[Brownslave688]

Why can't they just move into your basement to save for the future?

They are already 200 yards down the road. Basement is a little close

 

[olroadbeech]

sometimes "LIFE" happens and I hope you don't find out the hardway. all kinds of emergencies can pop up near retirement.

for example for me. very ill spouse, two grown children with cancer with 5 grandchildren who could be motherless within a year or 2. other children with severe financial problems. as a mother I just cant let them go homeless.

there are other things but I wont bore everyone. if it were just me, I would retire yesterday.

 

[olroadbeech]

You gentlemen make excellent statements, very thought provoking. I agree with Upstate's comment about retiring being a very personal choice and those two examples you gentlemen gave are probably spot on as the contributing factors why people don't retire along with financial reasons.

I am still amazed though reading through all the replies just how many people will put in so many years of their lives towards working. I wonder if the trade off of making money and being secure financially is worth what was missed in life over the years. That's always been something that I swore wouldn't let happen to me yet, it has, and still does. God willing if I am healthy and not in dire straits, I will be out of the workforce as soon as I can.

kids happen to some people. ha ha