Meet one of our extended family members. Sadie is so excited about the holidays she wore this sweater for Thanksgiving.
This week I made a donation to the Regional Food Bank of Oklahoma https://www.regionalfoodbank.org/. If you live in Oklahoma please consider a year end gift. There is a $500,000 dollar for dollar match until year end. If you live elsewhere there will be a similar charity you can give to.
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I think a lot of Americans who are preparing to retire now are going to have to rethink their plans. Because there’s no way the money that they’ve saved and the income streams that they anticipate receiving are going to be sufficient given the much higher cost of living that we’re going to be experiencing. And this is not just going to be a few percent a year. We’re talking double-digit increases in the cost of living for many, many years in a row.Peter Schiff, chief global strategist of Euro Pacific Capital
A hedge against inflation in retirement is to keep working. My patented solution is twofold: Build a nest egg while working, and work for as long as possible, either doing what you’ve been doing, or doing something new and interesting and fun. Full-time is great, but even a part-time gig is great, and for all kinds of reasons, not just money, and even if you have plenty of money and don’t need to work.Wolf Richter
Retirement math now is simple. If you can, work longer and save more.The SupremeCmdr – The Myth of Retirement
Remember The Lobsterwoman!
I came across this post in my collection of unpublished drafts. I thought I posted this but obviously I didn’t. This article link was intended to be posted before Colorectal Cancer Rates Rising in Ages 50-54. Better late than never, I guess.
More than one quarter of colonoscopies carried out in Americans aged 30 to 49 years reveal some type of neoplasm, and slightly over 6% of these patients have advanced cancer, results of a nationally representative endoscopic registry show.One Quarter of 30–49-Year-Olds Have Abnormal Colonoscopy Results – Medscape – Jun 07, 2021. — https://www.medscape.com/viewarticle/952536?src=rss#vp_1
During the period 1992–2018, there were a total of 101,609 cases of CRC among adults aged 45–59 years. Further analysis showed that the CRC incidence rates rose from 23.4 to 34.0 per 100,000 among people aged 45–49 years and from 46.4 to 63.8 per 100,000 among those aged 50–54 years. Conversely, incidence rates decreased among individuals aged 55–59 years, from 81.7 to 63.7 per 100,000 persons.Colorectal Cancer Rates Rising in People Aged 50 to 54 Years – Medscape – Nov 11, 2021 – https://www.medscape.com/viewarticle/962769?src=rss#vp_2
I am posting a link to this article as I enjoy the effects of 238 grams of Miralax mixed with a gallon of sports beverage and/or water. It certainly takes your mind off of not eating all day.
The total number of life insurance policies sold rose 8% in the first six months of the year and marked the highest such growth since 1983, LIMRA said. And there were other indicators in that same data that pointed to positive signs: Total U.S. life insurance premium increased 21% in the second quarter 2021, the largest year-over-year increase since third quarter 1987; in addition, it was up 18% for the first half of 2021 compared to the prior year.Life Insurance Sales Are Up, But for How Long? — https://news.ambest.com/articlecontent.aspx?refnum=313837&altsrc=2
I know who you are and I know what you want. If you are looking for ransom, I can tell you I don’t have very much money. But what I do have are a very particular set of skills; skills I have acquired over a very long career. Skills that are currently in short supply. Skills that I can and will take to the highest bidder.The Supreme Commander
I last posted about my upcoming retirement in More Retirement Income Ahead!
I need to start referring to my upcoming retirement as What Retirement?
“I’m sick to death of people saying we’ve made 11 albums that sound exactly the same. In fact, we’ve made 12 albums that sound exactly the same.”Angus Young, AC/DC
Prices in the three production stages that are the furthest up the pipeline (Stages 1-3, red, green, gray) have all jumped by over 20% year-over-year. Prices at production stage 4 (black), up 12.1% year-over-year, are inputs for final demand prices, which are inputs for consumer prices.
Final demand prices are what consumer prices will encounter pretty soon in their consumer prices. Stage 4 intermediate demand prices will follow. And prices in productions stages 1-3 are further behind, but they’re true whoppers, and they will provide massive pressures on consumer prices for months to come:Up the Price Pipeline, Inflation Rages at 20% — https://wolfstreet.com/2021/09/10/up-the-price-pipeline-inflation-rages-at-20/#comments
Prior to the 1950’s, there was no such thing as retirement, as the term is used today. A 1950 poll showed that most workers aspired to work for as long as possible. Quitting was for the disabled. Also, remember that in 1935 when the government was determining the appropriate retirement age for social security (65) the average adult male died at age 63.
The Baby Boom generation is also living longer than the generation before it. Chances are a married couple age 65 will have one spouse live into his or her early nineties. That is nearly 30 years of living off of one’s savings and Social Security if one retires at age 65. The math does not work for this many people. For so many to have golden years, there needs to be gold (money) to support them.Trust Company Oklahoma May 2016 The Retirement Myth — https://www.trustok.com/our-latest-quarterly-newsletter/
Thinking about retirement? I’ve been thinking about retirement for quite some time and the thought of not working doesn’t appeal to me. There will come a time when the 40+ hour workweek will be no longer doable. But for now that time is far off in the future. The math in retirement will not work for the majority. I see inflation all around and my planned retirement income streams and savings will not last as long as hoped if everything costs more. Retirement math now is simple. If you can, work longer and save more.