The Myth of Retirement

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.

The New Reality of Old Age in America – Washington Post

retirement

Source: The new reality of old age in America – Washington Post

The present standard of retiring somewhere between ages 60 and 70 is not going to be sustainable when half the population lives to 80 or 90 – which is already realistic today – let alone 100 or more. It’s just not possible. If you’re like me, you don’t intend to retire at 70 or maybe not at all, but it’s nice to know we have the option. Future generations won’t.

John Mauldin

I refuse to extrapolate the stories of two families profiled in the linked Washington Post article but will readily admit the author may be on to something.  The cartoon was not part of the article but ran in my local newspaper’s Sunday Comics.  So I put the two together and the picture is anything but funny.

So what happens when you  look at sales figures for RV’s in the US?  Yeah…wow.

I guess it’s pretty tough out there for some.  The sad thing is it’s going to get a lot tougher.

The Retirement Myth.  It’s a new hashtag.

I found some pretty sound advice here.  Scroll down to the bottom of the article.