Letters: Aug. 19, 2002

Will You Ever Be Able to Retire?

"I may no longer be able to retire early, as I had planned, but in November my vote may help my local politicians do so." BRIAN JUDGE Landisburg, Pa. As uncertain as our retirement futures appear [BUSINESS, July 29], I am deeply bothered by the financial wastefulness and frivolousness of American households, as illustrated by Maria and George Rudd in your article. You noted that together the Rudds, who are in their 60s, earn $280,000 but have a credit-card debt of $45,000 and only $40,000 in savings and investments. The Rudds are only one example of the personal and corporate shortsightedness that has plunged our country into its present financial quagmire. What ever happened to "A penny saved is a penny earned"? BRIAN FURIO New Freedom, Pa.

Don't tell me I'll have to work into my 70s! I've been at it since I was 14, and I can't wait for that drink with the umbrella in it. JOHN M. FLANAGAN Colma, Calif.

I always said I'd never be happy fully retired, and now, at age 62, I must convince myself that I truly believe it. At least there's one bit of good news following the stock-market implosion: the idea of privatizing Social Security and turning over investment choices to individuals and their advisers is forever put to rest. PHIL LEECH Spring Lake, Mich.

Far too many people live day to day simply counting on faith, trust and luck, without being very sure of their financial security for the next week, month or year, let alone for the balance of their lives. Worrying about voluntary retirement, full of leisure time, is a luxury many people simply do not have. JEROLD G. BUHRMAN Smithsburg, Md.

Your article probably scared a lot of ordinary people considering retirement who don't have the $300,000 to $1 million you seem to think they need. A modest retirement is possible without working till 80. Not all of us need or want to live in a mansion, own a yacht and sail about the Greek islands. I've been retired for five years and am quite happy. I keep an eye on how much I spend every month and try to stay out of debt. The simple life can also be the good life. JOEL LAYNE Cascade, Idaho

My parents have a fine retirement, relying on Social Security and a company pension without a 401(k) or playing the stock market. How do they do it? They have lived within their means in the same house for 40 years, and they save up for their purchases and vacations. RICHARD MILLER Idaho Falls, Idaho

I am 72 years old. I deal with an aching and arthritic body and yearly increases in the cost of living without increases in salary. I also must deal with continuing to work beyond a planned retirement. I could even deal with saying "You want fries with that?", but all I really want to do is scream, "Stop! Let me off to enjoy life." ROZ LINDSTROM Pasadena, Calif.