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Retirement Saving for retirement - questions about pensions and pension schemes, 401k's, public and private company pensions, and other saving schemes.

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  #1  
Old 07-01-2010, 10:01 AM
TMBGfan TMBGfan is offline
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Default Age to retire?

There has been a lot of talk in the UK recently about retirement age as Iain Duncan Smith, the Secretary of State for Work and Pensions, has announced plans to increase state retirement age for men to 66.

When state retirement age was introduced, it was designed to give people 7 years of state-funded retirement. Nowadays life expectancy for men in the UK is 77, and women is 81. With that in mind, is it appropriate for Britons to complain about this change?

Lifestyles now, of course, are different from when the retirement age was introduced. And the planned change is not 'til 2016.
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Old 08-29-2010, 06:20 PM
kwkintx kwkintx is offline
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Default Re: Age to retire?

Sure they can complain but he should change it anyway. I think it should be higher than 66.
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Old 09-22-2010, 05:33 AM
amitkum amitkum is offline
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Default Re: Age to retire?

I think the age for retirement should be 65.
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Old 09-27-2010, 06:26 AM
paydayloans paydayloans is offline
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Default Re: Age to retire?

Hi,

Normal retirement age is between 60 to 66. But its no matter what your full retirement age . I don't think a retirement is just the end of a career you can also say that it is the beginning of a new phase.

Thanks
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Old 10-06-2010, 05:32 AM
Jehnavi Jehnavi is offline
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Default Re: Age to retire?

The spouse of the opposite - as the senior engineer Fortune 50 companies, the design engineers largest salary can do (without going into management), so he was one of the first offered money to leave (early) because he can not replace Two engineers fresh out of school. She took pleasure in money because he has not had a lot do not believe that what the company paid pensions of regular retirees would be about the size of our pension. Of course, no substitute for professionalism, which is why they tried to call back 3 times in 7 months. Now we are both retired at 54 and 48.
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Old 11-05-2010, 09:45 PM
tally tally is offline
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Default Re: Age to retire?

Seize your destiny, rise up from the rank and file of the working class, then you can do it anytime. Viva la struggle !
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Old 11-07-2010, 12:16 AM
xdarata xdarata is offline
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Default Re: Age to retire?

In my country, the retirement age is 56-60 years. But many people are still able to work until the age of 70 years. For me, preparing them for life after retirement is more important than the limits for retirement. It can be seen from the labor requirements and the possibility they could still work in general. The main problem in many countries is the financing of their lives after retirement.
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Old 12-05-2010, 11:10 AM
translucent translucent is offline
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Default Re: Age to retire?

50 would be ideal and still be able to be ballin from a financial standpoint
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Old 12-09-2010, 05:11 AM
goodyphilips goodyphilips is offline
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Default Re: Age to retire?

I completely agree with the premise that retirement age should be increased.I have read the example of Amar Bose the legendary creator of Bose sound systems. at the age 81 he worked for 90 hours in a week.
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Old 12-23-2010, 10:11 AM
isralexba isralexba is offline
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Default Re: Age to retire?

Quote:
Originally Posted by translucent View Post
50 would be ideal and still be able to be ballin from a financial standpoint
setting 50 as the retirement age will collapse the whole system in the western states ... 65 - 67 is more reasonable in the state's point of view (the young pay for the elderly ....)
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Old 12-23-2010, 03:48 PM
JoshT JoshT is offline
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Default Re: Age to retire?

Well if you plan your life, and I mean no disrespect to those who have had troubles or lost money in their savings plans and are now in a bad position, but if you plan your life out from a young age you should be ABLE to retire whenever you want, after 45-50, and ACTUALLY retire whenever you feel like it.
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Old 01-05-2011, 01:03 AM
NumbersMadeSimple NumbersMadeSimple is offline
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Default Re: Age to retire?

Retirement as a choice has nothing to do with age. If someone has built a business, invested in real estate, or developed other passive income streams, they can choose when they want to retire. If someone does not have any income from any source, they are never able to retire (notice all the older folks working at Wal-Mart?)

That is not a value statement about either group - just a statement of fact.

When retirement is stated as an age, it is always in relation to the time when someone can begin receiving benefits such as a pension or social security. And here's the rule: the person that makes the rule about handing out the money can change the rules.
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Old 01-05-2011, 07:52 AM
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OnlinePaydayLoan OnlinePaydayLoan is offline
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Default Re: Age to retire?

Hello,

After retirement a person enters into another part of his life where he can have his grand children around him and can relax on his arm chair with a newspaper and a cup of tea in his hand.But most people don't like staying back at home ,instead they would love to get involved in some kind of work.
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Old 01-05-2011, 04:45 PM
thegreattriscuit thegreattriscuit is offline
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Default Re: Age to retire?

Quote:
Originally Posted by NumbersMadeSimple View Post
Retirement as a choice has nothing to do with age.

...

When retirement is stated as an age, it is always in relation to the time when someone can begin receiving benefits such as a pension or social security.
Yup. And I'm not sure how it is in the other nations of the world, but speaking from the US, I can tell you that I have no intention of basing my post-retirement income off of Social Security. Sure, I pay the tax, and when the time comes, assuming it's even still solvent by then, I'll take the pay out, but in all likelyhood, it will be an almost negligible amount of money anyway, so whether I work 'till 50, or 'till 75, will likely depend on simple math, rather than arbitrary dates...
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Old 01-06-2011, 11:50 PM
andie72 andie72 is offline
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Default Re: Age to retire?

No matter what your full retirement age (also called "normal retirement age") is, you may start receiving benefits as early as age 62 or as late as age 70. You can retire at any time between age 62 and full retirement age. However, if you start benefits early, your benefits are reduced a fraction of a percent for each month before your full retirement age. As a general rule, early or late retirement will give you about the same total Social Security benefits over your lifetime. If you retire early, the monthly benefit amounts will be smaller to take into account the longer period you will receive them. If you retire late, you will get benefits for a shorter period of time but the monthly amounts will be larger to make up for the months when you did not receive anything. There are advantages and disadvantages to taking your benefit before your full retirement age. The advantage is that you collect benefits for a longer period of time. The disadvantage is your benefit is reduced.
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