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Retirement

Posted by on Nov. 16, 2012 at 2:08 PM
  • 7 Replies

Are your parents retired? If yes, do they have the money they need for retirement? If no, will they have what they need for retirement? How close are they to retirement age? What do they do in their retirement?

by on Nov. 16, 2012 at 2:08 PM
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Replies (1-7):
andrea96
by Bronze Member on Nov. 16, 2012 at 2:44 PM

I don't know if they'll ever fully retire. My dad is almost 70 and still a rancher. I'm sure they have enough money to retire; he just hasn't decided to sell all of the cattle and get completely out of the business. The only difference would be that they could travel January-May; right now, they can't because that's when the cows calve. For the rest of the year, they pretty much come and go as they please.

mickstinator
by on Nov. 16, 2012 at 3:14 PM

My parents just reached 50, so no, not retired. They divorced a few years ago and had to split their accrued retirement in half. My mom still has hers, but my dad has eaten up some of it because of a really rough few years. I do worry about them! I'm not sure when he'll ever be able to retire.

deccaf
by Platinum Member on Nov. 16, 2012 at 3:45 PM

My stepdad has been retired for many years.  He retired from the Navy after 20 years, so that would have been when he was 38.  He gets that retirement, then, he retired from a grain mill in my hometown at 58.  He is now 71.  He has a hobby of restoring cars, and that will be their retirement.  He will sell his classic cars when they need money.  My mom works at the school, and her retirement will be small.  But the house is owned outright, and she has 3 daughters who do pretty well and are happy to take her in if necessary.

the3Rs
by Platinum Member on Nov. 16, 2012 at 4:53 PM

My parents are 71 years old and have been retired for 13 years.  My mom only worked for about 10 years (she was a SAHM until I went to college).  My dad, of course, worked his entire adult life.

They have more than enough $$ for retirement.  They've completed renovated about 80% of their house, renovated outside, and have gone on several trips.  But, they managed their money well.  They never allowed themselves debt except for their mortgage which was paid off as quickly as possible...a LONG time ago.

Unfortunately, I haven't managed my money as well.  I'm really good NOW - but I'm still making up for bad choices and for debt incurred when DH was laid off.  It's hard because the job he got after being laid off was nearly a 50% pay cut - so it's taking us a LONG time to get back on our feet.

I do contribute to my retirement, but it's very small and DH have come to terms with the fact that we may NEVER be able to retire.  :(

cjsmom1
by Platinum Member on Nov. 17, 2012 at 10:27 PM

My dad passed away 9 years ago and my mom is 52. She works full-time in McDonalds.

flutter523
by Tracy on Nov. 18, 2012 at 8:30 AM
My dad still works and my mom is permanently disabled after 2 back surgeries trying to correct a work injury. I doubt my dad will retire any time soon though.
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trfgirl56701
by Melissa on Nov. 19, 2012 at 9:19 AM

My parents just reached 50 recently. My mom and stepdad are both on disability but still work some hours during the week to help supplement their income. My dad and stepmom  both work at Polaris and I don't see them retiring anytime soon. They also live on a small "ranch" with 8 horses, guineas, several chickens and a cow so my dad would still be dealing with that and farming.

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