Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (19354)	5/28/2002 12:40:53 AM
From: EL KABONG!!!	Read Replies (1) \| Respond to of 74559

Hi Snowshoe, I live in an area of the country that most people would consider a retirement haven, though I personally don't live in a retirement community. Over the past two years, I have watched with great interest, a huge influx of new retirees in my age bracket (I'm an already retired, leading edge baby boomer myself) enter my state and nearby retirement communities. I have seen first hand that the vast majority of the newly retired have foregone planned luxuries in retirement, but not deferred retirement itself. Most of those who retire here come from the northern tier of states, the northeast USA and Canada. So they think that with the lower cost of living in my state (as contrasted with a higher cost of living in their home states) that they'll be okay and get by with some minor sacrifices, such as golfing twice a week rather than every day, stuff like that. Most are underprepared for retirement, and most vastly underestimate medical expenses (especially future medical expense that comes with the aging process). While it is true that they can sacrifice luxury now, that may not, in fact will not, be true for all them... At some point in time, age catches up with everyone and we have to be prepared for unusual expenses in our advanced ages. The one underlying theme that remains constant though is, they're gonna retire come hell or high water. Now it may be that I observe this "phenomena" only because I live in a retirement mecca, and that the vast majority of people that live elsewhere in the country won't or can't think about early retirement anymore. But statistics say otherwise, despite what the financial planners and other experts are saying. I keep thinking to myself that at some point, these people are going to run out of money. There seems to be a spend now, worry later attitude that is quite prevalent, but I suppose I could be wrong. So, my observation remains the same, and quite contrary to what the experts are saying. Sure hope I'm wrong though, because if I'm not, there's quite a big financial mess somewhere down the road... KJC

To: Snowshoe who wrote (19354)	5/28/2002 7:41:56 AM
From: rolatzi	Respond to of 74559

I fit the profile almost exactly on your spending profile. I am a leading edge baby boomer at the verge of retirement. I now am working part time at my previous job but will probably stop sometime in the next few months. I/we have always been non-consumers and proud of it. Nonetheless, we have possessions beyond our needs and ability to use them. We have had one car for the last fifteen years, living in a city/town where it is easy enough to get around and possible to readily rent a car if necessary. I prefer to walk to ride my bike as it is often faster, no hassle to find parking and has the net positive of providing exercise. We have always used coupons, come ons, and specials. We shop at yard sales, flea markets and buy items on sale. We go out for dinner and movies on special occasions, probably no more than twice a month and rent videos, since we haven't seen many first run features. When we are at the movie theater and view a trailer we will often say, that one looks like one we would like to rent but not see first run. We generally take one expensive vacation a year. We will not be curtailing our spending habits and in fact, have been thinking about a second car as we have done so well with precious metals since the beginning of the year. I have thought about looking for part time work to keep myself busy but am busy enough trading the portfolio, keeping track of our properties (3 in total, one which is a summer rental, and one which is a year round rental). There are so many activities that don't cost a lot of money that are satisfying physically, emotionally and spiritually. Americans have come to need to be entertained and the economy has developed to satisfy the need for passive entertainment. I tell people that I am not rich but I have enough resources to live comfortably. I don't really know if that is the case but I am about to embark on the trial. People at work can't believe that I haven't lined up a new job, people outside of work think it is a wonderful thing to do. I like to say that retirement is wasted on the elderly, that we should retire when we are young and healthy enough to enjoy it and work when we are old and need the distraction from our health problems. I realize that working for the elderly is not often possible. Anyone wanting to communicate their own particulars and share information, concerns, hopes and dreams, feel free. Ro