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My Take On “ROI: How to Figure Out What You’ll Need to Retire”
By admin | February 20, 2012
For some of us…I think the prospects are far more depressing. There is an assumption made here that one can not only save, but additionally his income is never cut in half mid-career — and forever more.
Example: IBM layoff cost me the retirement savings while trying to find a new job at age 41. So, the idea is: Start over – no problem in the pursuit of retirement savings. New job in 2005 with a pay of $50K, half the IBM salary, and it hasn’t changed. But cost of living in Manhattan has changed –a lot– in the past six years, so essentially outflow is $50,001+ a year. Nothing left to save when you are already on bare bones cat food.
I know I’m not alone either…. the only hope is to find a new, better paying job of course. And we know those prospects. Marriage perhaps? Even if SS does hold on two decades for me, and it results in a $14K annual income as a single person, how can I compete with all of those married couples living on SS of $23K when we know that two basically can live very close to cost of one.
In my view: I believe, and have already prepared for the fact, that SS will not be around for me. Without ever even earning a cost of living raise, savings is not an option either. So, it simply means I have to continue to work until death. Next column? What are the great retirement-age careers for those struggling in their 60s, 70s, 80s, 90s? 
That advice column I could use in preparing for the future.
Jeffrey Allen Miller NY
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