Retirement Reality Check for Gen X’ers, Y’s, and Millennial’s !

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Treasury Department official, surrounded by pa...

Okay – I retired last year and I’m worried about you ~ the Generation X’ers and the Gen Y’s.  These are my own thoughts and I need to get them out of my system, so I can say “Well, I gave it a shot.”  If I sound like your mother, or your grandmother, I probably do ~ heed the advice.  I’ve put in more than a few links – you don’t have to open them, just  start saving today!  If you’re a Senior, please pass this along to your young people and add your thoughts too.

I retired from full-time employment, from a full-time career that paid my house and car gas, my electric, phone, cable, credit cards, rent, and food bills; from a job that funded my Friday night bar tabs, Saturday shopping excursions, Sunday tithing and brunches, vacations, and even vet bills; from a paycheck that took care of my health, life, and car insurances; and from a business that contributed to my retirement savings plans.

Now what ?  To jump into my concern ~ After this first year of writing my own paychecks, I’m worried about the Gen X’ers, and the Gen Y’s ~ if you were born after 1960, that’s you. Seriously, whatever is happening to me, a Baby Boomer, and all my kith and kin, is in the present, it’s a done deal, while those Gen X & Y’s are in the future – for retirement, that’s 20 to 40 years down the road.

Here’s a recent US Chart on life expectancy which proposes that if you were born 30 years ago, you’ve a 50% chance of dying before age 73 while the other 50% continues to party on.  That 73 number may not sound reasonable, but 100 years ago, the break-even age was around 48.  As the chart unravels this data six ways to Sunday, I’ve rounded out those numbers.

With advances in health care and environmental developments, you could live another 25 years after you retire. Or maybe that’s where the 50/50 chance comes in ~ my Baby Boomer generation is dying of cancer caused by smoking yet the Gen X’s & Y’s are still smoking.

If you work full-time from the time you’re 25 or so, saving religiously toward retirement, then retire at 65 or 70, will you, how will you, have monies to pay for your living expenses that continue, while some that your employer has been covering, begin the day after you leave your job?

Look it up, search the web ~ keywords “Gen Y Retirement;” by the time you’re 65, you’ll need roughly $2 million in the bank to retire.  That’s putting away about $100 a week ~ for forever ~ until you retire anywhere near 65.  And you had to start saving 5 or 10 years ago.

Now what ?  Do you see why I worry for you?

Mary, a 67-year-old retired friend, says she has enough money in her retirement accounts to live for another 20 years in the style she’s accustomed to.  Her Aunt Joan, who retired at 70, is now 80, has 50K left and is now moving into her 45-year-old daughter’s house ~ in thrift-store-basement-apartment conversation style.

Now what?   There is no free ride.  It doesn’t matter if you’re single, married, divorced, or widowed, after you get that final paycheck, with all its deductions listed, you’re now the responsible party ~ your bills and expenses are on the horizon.

Carol, another retiree friend, doesn’t carry life insurance on herself.  “How will you be buried?”  I asked, almost choking on my Margarita.  Carol said she didn’t care ~ she’s willed everything to her only child and he can do whatever he wants with the good china, the good silver, and her damn good, but now dead, body.  GULP!

Now what?   With the Social Security changes, you’ll have to be 66 to start collecting and no way, 30 or 40 years from now, will it be enough to meet your “nut”   Will Medicare, with all its options, take care of your medical / prescriptions needs?  Or will you be paying those bills too out of your savings?

By the way, what’s your nut today?  Do you plan to duplicate it when you retire ?   Can you ?  Are you supposed to be living frugally now and planning for retirement or should you live well now and tighten your belt later?   In 30 or 40 years will you be able to physically climb the Matterhorn or mentally conquer the NYT Saturday crossword?  (I can definitely live without the alpine air but I need to get to Thursday’s puzzle.)

Now what?   Everything goes up in price.   I remember my Dad’s gas being less than fifty cents a gallon and my Mom’s cigarettes being less than fifty cents a pack, in the 1960′s.  If you pay $100 a week for food today, will you be paying $100 for less food or $300 a week for the same food when you retire?  Duh.   How about a car ~ do you need a car for retirement?  Do you buy it, finance it, before or after you retire?  How will you be paying for it – out of those retirement savings?

And those commercials ~ senior citizens holding hands, going merrily along their way are senior citizens now, not  30 or 40-year-old folks.   Believe me – planning ahead was never so relevant as it is now with retirement in your future.

Please, I / we? worry about you ~ start saving today.  

Yours ’till, Kate

Retirement 101 ~

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It’s about six eight months into my retirement. Here’s what I’ve been finding out:

04/15/2012 – I’ve recognized two peculiarities ~ 1) I don’t get the Sunday night blues – the oh noooooo, it’s Monday dread. You know, after every weekend, going to school every Monday, then going to work every Monday – for what ? Can you believe for about 40 years ! And, 2) Those two new workdays after six months of not working, are sort of, kinda’ messing up my week. And I’m working very hard on not thinking about that, thank you very much.

03/12/2012 – I found a two-day-a-week temporary position, through an agency. I go in on Tuesday’s and Wednesday’s, 8 to 5. It’s a minimal job with minimal tasks, and minimal pay, and, so far, (disclaimer), I love it.

02/23/2012 - I’m finally getting around to look for a part-time job. But it’s work.

02/8/2012 – I’ve admitted to myself that sloth and gluttony have taken over my life and I’m too slothful to do anything about it. Everything I promised myself I would do, I don’t do, because tomorrow is another day.

02/03/2012 - I’m still dealing with the paperwork that I sooooooooo took for granted while employed. Every time you look at your paycheck – check out all those deductions, that, when you retire, YOU’LL be responsible for arranging. I had a very hard time convincing a CSR that an insurance payment had cleared their bank two weeks ago – they argued they hadn’t received it yet, and wouldn’t look for it, because “cleared” meant the day MY BANK put it in the mail! Those HR and Accounting folks, who’ve shown gargantuan restraint by never killing / wounding / maiming anyone, with the calls they get, or the calls they make, must get special places in heaven. All the rest deserve pardons by the Governor. I miss them so.

01/19/2012 – Nowadays, I’m having trouble not getting up and going to work, though at the same time, I don’t want to go to work, yet I know I’m becoming more and more lazy, and I’m not liking that about myself, but, I do feel I should be doing something with my life, however, I don’t want to get up early and shower, get dressed to go to work everyday, then again, those thoughts, maybe because I’m older, zip right thought my mind now, and I forget these catch-22 ponderings for a week or so, until I remember them again; whenever that happens, like today, now. You know what I mean?

01/10/12- Everyone who visited over the Christmas/New Year’s holiday’s, asked me what I was doing with my life and/or what was I planning to do with my life, now that I’m retired. Then they told me what I should be doing ~ Pilates at least twice a week, bridge – something about learning and paying to play at the same time, art and/or photo classes, volunteering somewhere, joining a neighborhood and/or a city committee or project, a senior-swim – huh? So, I bought another pair a pj’s, and snuggled in for the winter.

12/14/11- I’ve recently had an urge or two to eat from a paper plate.

11/08/11- I suddenly realized that I’m going to have to budget more for TP/tee-pee/toilet paper; I’m home more ~ not using the company wipe! But – I’m saving money on deodorant, toothpaste, soap, shampoo, laundry detergent, face and body creams, cosmetics, etc., etc., etc. But spending more on FOOD !

10/05/11- For some unexplainable reason, I’m slowing down when approaching an intersection. When I was much younger, (only a few weeks ago), we always knew to stay away from the driver who was an “old guy with a hat.” Especially those scally / race driver / newsboy / flat / Uncle Pat golf hat hats !

09/21/11 – You have to be prepared to mail all your retirement paperwork at least a half-dozen times and six ways to Sunday. I’ve certified, returned receipted, scanned, emailed, and faxed this stuff repeatedly. So, today I got a letter asking for something I scanned two weeks ago. Ugh!

09/01/2012the first day of my retirement. Whew – I don’t know what to feel but I know I don’t HAVE to feel “up to go to work.”

Yours ’till, Kate

The Runs Have Begun !

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Runners - Brighton Marathon 2011

Runners - Brighton Marathon 2011 (Photo credit: Brighton photographer)

Okay, so it’s an early Saturday morning in April and I want to start my errands first thing ~ around 8am or so. But what happens, I run into runners. Almost.

It never fails: cops, cops cars, and flashing lights, along with all the folderol that accompanies these folks who run, sometimes walk, are in every intersection between me and my destination.

From the first Saturday in March, until the last Saturday in October, getting around town, (my downtown, urban city neighborhood), I’m stymied at every turn. It takes planning and organization for days, maybe weeks in advance, to figure out how I’m going to spend my Saturday morning.

The first year I ran into this, I tried to beat it. Detouring north, south, east, and west, all I did was spend more money on gas, than groceries. What a waste of my time ~ but I’m stubborn, focused that way.

Then I signed on for email notifications by the DOT, so I’d know what streets were closed a few days in advance.

Next, I’d shop at those stores that were still relatively accessible without going too far out of my way.

And I’d have to plan my menu’s according to what I knew was available at that reachable store.

See – planning, planning, and planning.

While those runners are just running around in circles ~ same as me.

(Me? I’d be dead last or just plain dead.)

Yours ‘til, Kate

Serving up a Slice O’ Spam/SOS

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English: Two small cans of Spam. One is closed...

I’m beginning to like spam - it keeps me busy with the rotating-head and shoulder-rolling exercises, and it adds a few laughs to the day.

Every week I get about 100 or so spam comments ? / observations ! and remarkably they seem to read the same.

And canned it is.

I think spammers copy spam from each other – ?  or Duh ?

I can’t copy and paste a slice o’ spam/SOS here, ’cause I can this crap-ola ASAP.

One came in just now – I’ll check it in a minute.

By the end of the week, the pile of spam, usually boils down to something like this ~

I agree/love/like your post.  I agree/love/like your blog.  I agree/love/like everything about you.

Jeez – that’s unconditional love if I ever heard it.  Sincere too, huh?

Your post/blog is very insightful.  Your post/blog is very helpful.  Your post/blog presents a different point of view – one I’ve never considered.

Jeez – you mean, I actually had a hat-trick, hit a home-run, scored?

I’ll be back to read more.  I’ll continue to read your blog.  I’ll read your blog every day for the rest of my life.

And “how come” they never subscribe?

Then, after all that praise, the last sentence in that SOS, is usually a request to go to another post/blog for their POV.

What a let down, I’m crushed.

Yup – the latest one, tells me to check out WHATEVER – no, I won’t do it  & I won’t link it here.

Oh yeah – the length and language.  Every once in a while, the SOS, is elephantine and in an undecipherable language.

Ditto – for this latest SOS; it contains only a few words in English, maybe Google and WHATEVER – sigh.

Sounds like spammer self-love to me. (SSL?)

Yours ’till, Kate

Old Car / New Car

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A 9th generation gray Toyota Corolla S (model ...

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February Update ~ A coworker bought The Green, so, with her husband dropping her off at my house, we met to transfer the flotsam and jetsam of the last 13 years, from The Green to The Gray.

I emptied out the trunk the day before, so I figured cleaning out the inside would be a five or ten minute job.

It took two hours!

The interior clean-up actually did take only 10 minutes: the odyssey began after Kaye taped her temporary paper plate in the inside of The Green’s rear window ~ we stood back, she looking thrilled, while I prayed that that ol’ car-o-mine, wouldn’t break-down before it got to her driveway, an hour away.

We said good-bye, I turned and picked-up the screwdriver I’d gotten out to attach my old plate to The Gray, and, as I stood in the doorway, with the screwdriver in my hand, and The Green turned the corner, I watched Kaye drive away with my old metal plate still firmly attached to the dinged-just-a-little-bit rear bumper.

CRAPOLA – there goes my plate.  Geez!

I quickly got my cell phone and called Kaye – and – left a voice mail.

I stood there a while, staring at nothing, as the car, Kaye, and the plate were long gone.  I finally went inside to kick myself in private.  Twenty minutes later, Kaye rang the doorbell, and we went to The Green and removed my metal plate, lickety-split.

But, no matter what we did, we couldn’t get the screws to tighten that ol’ plate onto The Gray.

Now, none of this would have been a big problem, except that with everybody’s busy schedule, MY paper plate would expire the next day.

Figuring I needed special/custom/unique screws, I went to the nearest dealer, 20 minutes away, and they gave me two white plastic screws, which worked fine, until I tightened one screw just a turn too tight and snapped off the screw top, leaving the rest of screw, in the hole.

Luckily, I had decided to do this job, in their parking lot.

Think stunned, frustrated, mechanic, bay, packed waiting room, one coke, and one coffee later.

No charge but two hours later, no walk in the park either.

Yours ‘til, Kate

January ~ OK – I bought a new car ~ new to me ~ to replace my old, dark green, 1998, 4 door sedan, with 150K miles on it, and rust in all the usual places.

My new car is a 2007, dark gray, 4 door, “sport” something or other, with 60K miles on it: one owner who turned in at the end of a 4-year lease, to lease another car.

After test driving The Gray, for an hour or more, stopping at K-Mart, Wal-Mart, the Wonder Bread Outlet Store, 2 car dealerships, and 2 tire stores, and listening to all the men, who, after they spotted the dealer For Sale signs in the windows, and me with the hood up looking at everything, came over to help and inspect it, (this is a ploy, it may be sexist, but IT WORKS !), I heard nothing but praise, so I bought it.  You know, borrowing money for the length of the loan and I do have someone who’ll buy the ’98.

I picked up The Gray, on Tuesday, after it had been detailed up the wazoo, so much so, that the engine looked lickable and the headlamps shone like Liberace’s candelabra’s.

Then I played with all the bells and whistles or as many as I could locate.

Both cars have sunroofs: The Green’s sunroof is a little bigger, while The Gray’s moves faster.  

The Gray has a fuel door release next to the driver’s seat, which, thank goodness, the dealer had pointed out.

The Green’s fuel door opens eventually after you jerk it two or three times, and the cap is now attached with some old wire-thingy.

What arm I moved down on The Green, I now must move up on The Gray, and vice-versa.

What I had to turn on, on the The Green, turns on automatically in The Gray, and vice-versa again.

Just what I don’t want – another learning curve in my life.

I was glad to rest on Wednesday, as we had a little snow and on Thursday we had an icy rain.

Friday we got both; ice turning to snow, on top of snow and ice, and I didn’t drive either car.  I didn’t have to, since I had heard the weather forecast earlier in the week and really did shop during the test drive.

Today, I forced myself to drive The Green to make sure nothing dies, and to drive The Gray, to see how it drives in this crappy winter weather.

The Gray started right up and the all the doors and windows were slick to open and close and locked tight.

The Green started right up too, ‘cause I just replaced the battery last month: it had died on a hill facing extreme, almost perpendicular, south.  The mechanics I called, arrived in a flat-bed truck, and after a consultation by committee, decided they couldn’t test anything, since the car was so vertically challenged, and towed it to their shop.  The bill for the tow, the testing, and only a new battery was about $300.

Today, in 20 degree weather, frozen under ice and snow, The Green’s driver’s door didn’t lock until the car had heated up pretty good ~ at least $20 worth of heat.   I forgot to ask about this persistent, seasonal problem last month.

The Gray’s heaters & vents worked very well and very fast.

The Green’s heaters & vents worked at about the same rate of speed it took for the driver’s door to lock securely once that door lock defrosts.

Both cars drove well on the icy/snowy/slushy streets we have today.

The Gray’s, not original, but good all-weather tires, had good traction, stopping, and starting on the flats and on the hills.

The Green’s, BRAND-NEW-IN-MAY, $800 all-weather tires, along with rotors, tie-rods, pads, brakes, shoes, CV somethings, and whatever else an additional $1100 got me in October, had good traction, stopping, and starting on the flats and on the hills, too.

Oh yeah, The Gray was $12K total and The Green‘s bills are still coming in !

Yours ’til, Kate

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