5 Reasons Older Workers are Delaying Retirement

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Many people trade thier retirement for big houses, fancy cars, trips etc. My wife and I elected not to trade,lived a pretty basic but good lifestyle, and will retire at 53 with a 60K pension and $1.8 million in investments. Payoff time is here!

Chris Jacobsen of CO 10:56AM February 14, 2011

Al-ho,
Next year I will retire at age 54 with 1.4M in investments. And a trophy wife with large mammary glands.

The Clue Phone of AK 1:24AM February 13, 2011

At age 18 I already knew I wanted to save and retire early. To that end I always lived beneath my means. By a new car, keep it for 10 years. By an economy car and keep it stock, no fancy tires or wheels. No 5-6 year car loan, 3-4.
Home items like stereos and TVs, buy the least expensive one meeting your needs. Shop around, look for deals. Keep it until it dies, then buy a new one. Or sell it and buy. Just don't upgrade every year.
Mortgage. Buy only the house you need. 15 year mortgage or bi-weekly 30 year, what ever you can do to save money and pay mortgage off early. Pay extra principle if you can.
Retirement funds. Max out the Roth IRA and if possible, Roth 401k. Keep contributing even if the economy tanks. You will buy cheaper shares & more of them.
Pay yourself first, mortgage and investments. Then spend some on yourself.
I will retire in 2012 at age 57 with almost $1 million dollars in investments. People older than me can't understand how I did this. Really???

Al of HI 1:22AM February 05, 2011

The young people need to work now....I am 60 and need to retire too.....this is a conflict....we need to balance our need for work as well as the need for our own children to find jobs. This is a dilemma that many of us will have to face.

Greg of RI 5:19PM February 01, 2011

So many are not ready to retire from work; yet, work may be ready to retire you. This generation of boomers who were raised in affluence may well retire to poverty. I know many who have little set aside are helping their own fail to launch offspring. There are no do overs for retirement.

Loren of CA 11:06AM January 29, 2011