D
Deleted member 28227
Guest
Interesting...
Does WF report daily or monthly? Maybe my monthly is just consistent because it's always 0.
Retirement goal changed due to inflation?
- Thread starter Cammy
- Start date
Does WF report daily or monthly? Maybe my monthly is just consistent because it's always 0.
SAJ-99
Well-known member
The concept of retirement is almost wholly western and based on belief that the human being is a waste of space after 60. For some eastern cultures, the concept of retirement doesn't exist. It revolves more around the concept finding something that "gives you a reason to get up every day". From what I read here and the overall philosophy of trying to stop "work" as early as possible, I can understand some of the problems affecting the US economy.
DouglasR
Well-known member
These guys don’t even like being in the truck
VikingsGuy
Well-known member
A software glitch in your favor?
I use a WF card and a USBank card. I have not carried a balance in 25 years, but do use it a lot for day to day convenience. My accounts report out $$ that seem in line with my usage - I asked our WF banker about it once and he said they report once a month the average daily balance of the preceding month. But who knows, if I asked 3 more bankers I may have gotten three different answers, but since I stay above 800, I don't care about the bounce between 800-850.
D
Deleted member 28227
Guest
OK Gen X... congrats on your apathy
VikingsGuy
Well-known member
Western and recent - this is really a post-WW2 concept. It is likely fostered by industries (financial, travel, etc) like Valentine's Day and mouthwash. It has really escalated in the last 20 years.
I am not sure how we can feed, clothe, provide medical care and house 350 million people who each live for 80 years when 65% of them only want to work for 30 of those 80 years and 35% of them work less than that or not at all. It becomes a demographic ponzi scheme.
D
Deleted member 28227
Guest
Not to mention causing a pervasive sense of ennui, IMHO people need a purpose.
we can't forget how much the pervasive sense of "ennui" is fostered by work itself though.
in fact that's probably the primary problem, i'd argue, even before any sort of lack of purpose created by not working. we want to not work because work is so goddamn unfulfilling.
too many jobs in this country have no purpose other than to make money while providing non-necessities to people trying to forget about their reality. i'm not saying democracy, liberty, and capitalism are bad, but i feel like we're a tad astray.
SAJ-99
Well-known member
Don't worry, as pointed out, DB plans are basically dead, Americans (as a group) aren't saving enough or investing properly to retire comfortably, and certain politicians have pointed out the strong desire to kill SS or at least put a gun to it every 5yrs in order to get other things. So people will almost have to work well into their 60's and maybe 70's. Ironically, part of the basis for the concept of retirement was to get older people out and open more jobs for young people, because nothing is more dangerous than young men without jobs and lots of time on their hands.
Here is a retirement survey from 2015, its a little old but entertaining. https://www.transamericacenter.org/...crs2015_sr_retirement_throughout_the_ages.pdf
To your point, it looks like the travel industry might be a driver of a lot of this. The funny part is that 20% of the people that want to spend more time with friends and family don't realize those people might not want to spend more time with them.
VikingsGuy
Well-known member
And the FIRE folks had better hope they stay a niche group, because if they were the majority they would be in a world of hurt. Imagine a world 20 years from now where food, energy and medical care all cost 5x because of chronic labor shortages and at the same time stock market returns that fuel 401ks, Roth IRAs and pensions have decades of stagnation or decline due to plummeting GDP. That "sure-fire" savings plan from 2020 will do you little good. circa 2010 Greece will look like a wonderland compared to this hypothetical 2040 US.
VikingsGuy
Well-known member
We must all pause for a moment and reflect upon this fabulous insight
So are you saying in the not so distant future that retirement could become like drawing a sheep tag in MT?
D
Deleted member 28227
Guest
I had the same thing typed...We must all pause for a moment and reflect upon this fabulous insight
VikingsGuy
Well-known member
I was thinking more along the lines of it being like sleeping on the couch in your brother-in-law's double-wideSo are you saying in the not so distant future that retirement could become like drawing a sheep tag in MT?
D
Deleted member 28227
Guest
There are subspecialties in medicine that take 15 year to complete post undergrad... and if say you did a shorter route, would you really want to work your butt off for 7 years to then retire 8 years later.
... FIRE
Thanks for the clarification, I’d rather take my chances in the draw with everybody elseI was thinking more along the lines of it being like sleeping on the couch in your brother-in-law's double-wide
I hope those specialties pay well, that can’t be cheap. I’d hate to work that 8 years and take 7 clearing up the student debt!
D
Deleted member 28227
Guest
Not necessarily... for instance a lot of Pediatric subspecialties are long, and don't pay well. Basically if you end up at children's hospital know your MDs really want to be there and 100% are not doing it for the money.
In our system of money it's about volume of patients. So the highest paid are specialties that require a lot of training, but who then see tons of patients.
That was why I was curious, I was a hospital accountant for several years and when I left it was heavily volume driven ($) but often the patient surveys reflected negatively on those physicians
VikingsGuy
Well-known member
Go radiology - you don't even have to leave your house and rarely have to deal with messy patients.
Similar threads
