Retirement can we afford it?

 People over 65 years of age is increasing every day, and living longer, and healthier because of the health warning and the new technology we came across over the years. 

In the 1800 and into the 1900 most people died in their 40 -50 . Many individuals in they late 70- 80 continue to live healthy and happy lives, my father is 92 and going strong, and enjoys watching the Bold and the Beautiful) and his favourite soap opera  is "Day of our lives, (no wonder). and the most important thing is my parents still lives in the comfort of their home...

According to the experts aging and growing old is a normal process, Normal  changes occur in the body structure and function during the aging process. because of the changes, the elderly have special needs.

Retirement

People traditionally retire at the age of 65 some folks retire earlier, Others continues to work until the age, of 70.  Retirement has been viewed  as a reward for a lifetime of hard work, and yes some folks earn the right to retired, however, in this economy can some folks retired? but 40% of American say they can't afford retirement, and it's a shame, after years of hard work, and now it seem impossible,

 

SHOULD WE STOP INVESTING OUR HARD EARN MONEY INTO RETIREMENT FUNDS?

401 k plans, IRA .

WHAT YOU NEED TO SAVE

If you are making about 29,000 per years, according to a little test done on this figure

you should be saving at least $6,160 per year,  at a saving rate at 22.0%, that might not say much,

however, that is the some of the reason we have to continued working, and the figures do not lie.

Travel, leisure, and doing whatever one wants are the benefits of retirement, Many folks is going to be unable to have all the leisure time, because of this economy either the lack of money, or because of some chronic disease  or disability, poor health and medical expenses can make enjoying retirement difficult, even impossible.... and trying to work to the full retirement is going to take a toiled  on our health.

According to some recent surveys, "Your Job or your health" many hospital workers is having a lot of back problems, offices worker, postal workers and the list goes on..so can they really make it to the retirement age?

Having a job, has social and psychological effects, working.. helps a person meets they basic and, personal needs, of love.. (belonging and self-esteem), personal satisfaction and usefulness..  all of this results comes from working, however, if you have to live from paycheck to paycheck does it worth it?

For many of us, moving close to retirement  and thinking of the monthly social security check, is  it going to be enough, and as you know it is going to be our only source of income, however, retirement and aging do not result in less expenses, not even half fare on the city buses, there is going to be still rent or mortgage payments, food, clothing, gas and electricity, water bills, and taxes are other expenses.

Car expenses, home repairs, medicine, and heath care  add to to the individual's expenses, Entertainment and gifts for children and grandchildren are other costs.  For many people retirement causes severe financial difficulties.

Luckily for those who planned for retirement, saving and investment retirements plans and insurance coverage....please go and have some fun., go fishing, plan a cruise, visit your grandchildren, just do not sit around and do nothing .. you work hard all your adult life, you earn it. now enjoy it..

 

 

 

 

 

 

Comments 6 comments

Cogerson profile image

Cogerson 5 years ago from Virginia

Wow...my family earns more than 29K...but we do not come close to saving 6,000 a year.....I guess we will be working a very long time...voted up and useful and scary


Daffy Duck profile image

Daffy Duck 5 years ago from Cornelius, Oregon

It seems that saving enough money to retire is the most difficult thing to achieve now a days. What a pain in the Keister. Voted up and useful. THX


telltale profile image

telltale 5 years ago

I am close to the age of retirement, and considering it quite seriously, or at least semi-retire by that time. I find that expenses can be quite high and nobody knows how long one will live, so it's difficult to just retire without any source of revenue thereafter. Savings will soon dry up if we have another 20 years or so after retirement. Personally, I find it quite difficult to lay idle, as I don't enjoy fishing, cruise, maybe... :)


Darknlovely3436 profile image

Darknlovely3436 5 years ago from NewYork Author

Cogerson, so good to see you on my page, and yes thinking of retirement, is a little scary, especially when a person cannot even see what they work for, all those long years, just living from paycheck to paycheck

something have to be done about this sitituation.

thank you for commenting.


Phil Plasma profile image

Phil Plasma 5 years ago from Montreal, Quebec

I still have 27 years before I am 65 so I'm not giving retirement too much thought just yet. Mostly I'll be counting on one of my children becoming extremely wealthy... ;)


Darknlovely3436 profile image

Darknlovely3436 5 years ago from NewYork Author

It really hard out there right now, however, we have to think of ways to save for our retirement.

thank for commenting

one love

Dark

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