I'm in semi-retirement, but what am I going to retire to? I don't ride horses, I don't golf anymore. I shoot a game of pool every now and then.
If you are advocating full retirement benefits starting at 60, my reaction is the system is already 31 percent underfinanced and can not afford what it's now doing, let alone such a policy change.
Miles Davis had been in retirement for five or six years and he was coming out of retirement and he was looking for young guys. Somebody gave him my name and he called me and said, "Can you show up at Columbia Studios in two hours?" I'm like, "Whoa, is this the real Miles Davis?" He's like, "Yeah." So I showed up and yeah, it was intimidating, but music is so important to me that the intimidation was all before the notes started.
We need to reorganize our entire system of retirement plan investing and to develop federal standards of fiduciary duty for pension trustees and fund managers. These require "top down" intervention. But we also need investors to look after their own economic interests, a bottom up approach to our problems that is well within our individual power to undertake.
There is no question that policy makers, corporate leaders, pension consultants, and journalists too have to get out into the real world to at least see the pain of retirement woes before they start to prescribe policies and solutions.
She (my ex-wife) wanted me to stop being Evel Knievel. I am who I am. I'm not going to change. I'll settle down the day they put me in a six-foot pine box.
In Western Europe, most countries have variations of the lifetime pension system for most workers so they are keeping the system that we are walking away from. By comparison, 50% of the American workforce is not offered any retirement plan by their employers. And of those who are offered a plan, roughly 25% do not choose to join. In other words, everything is voluntary, and that's one of the reasons our results are so perilous for most people.
It's Good...But No more rush hour driving To start and end your day No more early alarm calls But..much less pay No more back stabbing Or rising to the bait No more phone calls from the boss Asking you to work late But...having to get by On half your hourly rate Now you have all day To sit or doze to stay to go Anywhere you like... ..cheaply You've got less dough Travel around the world Do anything you've desired But do it economically Now that you're retired
Free... Yes...FREE time Is what retirement brings Leisure, lounging and loafing And other lazy things
Sport teaches you so much, and you can translate that to other parts of life. But it's definitely a lot of dedication, not just for, you know, myself or the children, but the parents, the family finances, the money that you could be putting toward retirement you're using to buy tennis shoes and restring rackets and tennis lessons. So if you don't make it, then you may never retire. It's definitely a lot of risk.
Take life with a pinch of salt A shot of tequila and a wedge of lime Do nothing at all But take your time
Many priests say that retirement is more identified with freedom from meetings, budgets, personnel conflicts, and "dealing with the Chancery." Even as I struggled not to take that last point too personally, I was reminded that I have heard the same sentiment from many of my bishop friends as well!
At last some time for pleasure trips And do what you want to do The time to just take your time It's toodle-oo to time that flew Those plan A's and B's Coming down of that dusty shelf; it's your time now just for you To do things for your self.
Retirement, it seems, is the final fling. The love boat, the trip-around-the-world.
Most women at retirement have significantly less money than men, and they still get paid less than men. I'm sure that in my reptile brain I'm quite conscious of this.
Your children are your retirement plan. Because of that, all parents want their children, their only children, to do really well financially, so that they can essentially take care of their parents when they are older.
The issue of the pension gap has got to become visible and important to millions of people before Washington will respond seriously. Right now, everyone thinks it's his or her own problem and that individuals have to do better and save more. Of course, that is true. We all have to save more and take responsibility for our own retirement. But we have a huge social and economic problem on our hands.
Social Security is the foundation stone of that kind of retirement security. It not only needs to be strengthened in order to make sure it's there for younger baby boomers and Generations X and Y, but it probably needs to be strengthened and expanded because the retirement benefits now being offered by most employers are not sufficient to support middle-income Americans in their long years of retirement.
One of the strongest lessons I learned in doing six months of work on retirement topic was how absolutely crucial the Social Security system is for the great mass of Americans. The research of professionals and our own reporting convinced me that many millions of people are not capable of effectively managing the finances for their own retirement.
The retirement financial crisis will affect far more people than baby boomers, and certainly it will affect their children. Most of the retirees and near-retirees with whom we talked, said that they were extremely reluctant to have to depend on their children financially, or to think of moving in with their children. But the mere fact that they were discussing those issues indicates that some of them have already figured out that that is what lies ahead for them.
The main problems are insufficient diversification and the failure to pick age-appropriate strategies - that is, more aggressive when you're younger, and more conservative when you approach retirement. But even then you have to invest for growth.
If US per capita income continues to grow at a rate of 1.5 percent a year, the country will have plenty of money to finance comfortable retirements and high-quality healthcare for all citizens, including those at the bottom of the wage ladder.
When I think about what I'm going through, as President, it doesn't compare to what the folks that I'm representing are going through. They're losing jobs. They're trying to figure out how to pay their medical bills. They've seen retirements suddenly dissipate because of what's happening in the stock market. And so as tough as the job might be, and the politics of Washington can sometimes be I'm always reminded of how fortunate I am to be here, and what an extraordinary responsibility I have to try to deliver on some of the promises that I made during the election.
Your best retirement plan for retiring happy and prosperous - don't be a burden on others.
Retirement is the beginning of life, not the end.
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