Financial retirement questions

Seems folks are asking some strange financial retirement questions…like how can I ever retire?
It is 2010 and folks are concerned about retirement finances.

Compared to 15 years ago, folks are downright skeptical about retirement.

In 1996 34% of potential retirees thought they would have enough money today only 16% feel they have enough money to retire.



Some of this is due to the poor economy…some is due to lack of planning and foresight on the part of the retiree.

The fact that few people are saving for retirement is sobering.

Retirement Savings rate

Today 27% of workers say they have less than $1,000 in savings.

Think about this…most financial planners agree that everyone, regardless of age, should strive to have at least six months of expenses saved up. I can only imagine the panic when those with no savings receive a layoff notice from their place of employment.

Double this number, 54%, report having less than $25,000 in savings. That will not go very far in an emergency.

Home equity situation

On last week's 60 Minutes, it was reported that 50% of homeowners have zero equity in their homes. Traditionally, at least until 2007, folks could expect that the value of their home was going to be their retirement nest egg.

Cash in the equity and pay cash for the Florida condominium. Not so in today's real estate market.

Working after retirement

The solution for many retirees is to work after retirement. According to a Del Webb survey…73% plan to work after "retiring".

With the current unemployment situation nationwide…10%...I say good luck to finding acceptable work in a popular retirement state.

Think the Carolinas, Florida and Arizona are going to be short of folks wanting to work after retirement?

My personal solution

As you have read, yours truly was retired 14 years before starting this website. Not that writing about our retirement experiences is drudgery, it is not, but I still put in 20 hours a week on this site.

Since I knew zilch about computers 18 months ago, you may be curious how I did this. Not without a lot of help…that is how…the good news you can do this too.

Retiring online

Name me another way of earning that allows you the freedom of:

• Working where you want
• Working when you want
• Doing work of your choice
• Appear as you are fully retired
Do not think too hard...it is the internet and that only.

There are quite a few of my friends and associates that think I am fully retired. Why? Because I play golf when I want, take the trips I want because I can choose the time I spend online.

Yesterday we returned from a weeklong trip where I did not turn on a computer…by my choice…I checked my earnings and I made over $100, on this site alone, last week on vacation…exactly what I have come to expect by working online.

Therefore, the next time you ask financial retirement questions…remember...you can do this too.

Return from Financial Retirement Questions to Can I Retire Early

Quoted Sources

2010 Del webb Retirement Survey

2010 Retirement confidence survey...EBRI

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