Only 20% of men are working past age 65

The Seattle Times ^ | Friday, March 10, 2006 | Gene Balk

[.cnI redruM]

It's not a question of whether I'm generous. It's a question of whether there will be enough money for anyone to get the benefits. There are probably people all over the former Soviet Union right now gripping about how they worked hard for the Rodina their entire careers and now aren't getting their state sponsored pensions.

[jjm2111]

My dad is 67 and he works twice a week designing websites of all things. He is by far the oldest guy at his company. He was bored to tears in retirement.

[L98Fiero]

Yeah, I've seen them all. Enjoyed them all. I saw "Guffman" jus the other night. Christopher Guest's character, "Corky" cracks me up!

[presidio9]

Christopher Guest's character, "Corky" cracks me up!

That woud be Lord Christopher Haden-Guest

[Night Hides Not]

It's a question of whether there will be enough money for anyone to get the benefits.

Another good preview of the train wreck to come is in Europe. Declining birth rates, unsustainable increases in government programs, and crushing tax burdens on the productive...sounds like a recipe for disaster.

[ol' hoghead]

But I wonder how many of these men saved for their own retirement

I did. That's why I retired at 60.

[El Gato]

You have to wonder how much of this is due to the downsizing of a few years ago. Many people in that "senior boomer" age group got offered what amounted to a modest version of a "golden parachute", to leave voluntarily, before each round of layoffs. Plus many were laid off. If you are past 50, and laid or retired from working in the same field, for which demand was already soft, it's not going to be that easy to find another job, at comparable pay. Many may have decided "to heck with it", took menial work to get over the hump of getting kids through college,etc, and then retired to a more modest lifestyle. Sold the big house, bought a smaller one (or a bigger one if they moved from a high housing cost area to a lower cost one).

I know several of the people I work with that are my age, or even a bit younger, (I'm 56) are planing on retiring in the next two or three years, because they've planned and are financially able to do so, but are sick and tired of their jobs too. Many of them have been since major upheavals in their jobs, including location changes, etc, starting in the early Clinton years.

[.cnI redruM]

>>>>Declining birth rates, unsustainable increases in government programs, and crushing tax burdens on the productive...sounds like a recipe for disaster.


Yeah, but these people all worked hard for these programs and deserve them. Never mind if there's no way in h--- we can possibly pay for them.

[Wisconsin]

sodpoodle,

This is a little different. You keep working past retirment, forego 50% of your social security, pay no taxes.

You can reverse it and look at it the other way. We benefit if people keep working and don't draw social security. Why should we create a disincentive to do that by taxing their earnings?

[Ursus arctos horribilis]

Uh, take a look out an open window, this ain't the Soviet Union. But, if you are suggesting we go the commie way on no pay pension thingy, perhaps we soon will be.

[Ursus arctos horribilis]

The point is, the young ones whining the loudest, have been on the public dole their entire young life. Paid for by a great many with no kids getting a free education and school meals for free.

What is society's cost benefit return for the public school system, it has failed in almost all respects.

[old gringo]

i hope you live long enough to get on this gravey train.i can't decide what to buy with my 600 dollars a month.maybe i could send it to the arabs.i know they are short on bombs.

[.cnI redruM]

That's exactly where we soon will be. Our current entitlements are demographically impossible to support. Our current administration and congress have made this problem demonstrably worse in two ways.

a) They've done nothing to check the growth of future liabilities in existing entitlements.
b) They've enacted new boondoggles such as Leave No Child Alone and The Prescription Drug Panderation Act.

We won't have the guts to budget in an intelligent and proactive manner, so yes, we will eventually go the way of all other failed socialist countries.

[.cnI redruM]

I agree 100%. The more we pay public edumakashiun, the moor gradueights we gett that arn't no gude at spellink

[.cnI redruM]

I won't get anything close to $600. Consider yourself a very fortunate man.

[oceanview]

current seniors can do this.

but private sector pensions are quickly becoming a thing of the past. people working now in their 30s and 40s, who won't get corporate pensions, and getting near negative rates of return for every new dollar they send to SS - will be working into their 70s.

[dalereed]

I'm only 68 and I plan to work construction until i'm at least 80, if i'm still able I sure won't quit then.

I wouldn't quit no matter how much money I had.

[sodpoodle]

excellent point

there should be a survey taken of intelligent citizens, like yourself soliciting good ideas to improve the program.,

thanks wis

sp

[old gringo]

and by the way i could use the leg i left in nam.but according to you i probaly don't neen it.

[Billthedrill]

Before we get to enthusiastic about seniors working longer we'd better make sure the job market can handle it. If anyone thinks the X'ers are whining brats now think of what happens when they don't get their promotions because some old git is hanging on, because he's been told he's a slacker if he doesn't hang on by those same whining brats.

Color me unimpressed. When I retire it'll be on my dime and the X'ers or anyone else with well-meant advice about how I ought to live my life can kiss my royal rump.