Originally Posted by
300ER Hauler
I get a good laugh at all the guys bashing the over 60 crowd, the guy with and ex wife or high expenses. No one knows what's round the corner for them....
I don't agree with the mean spirited bashing but criticism is expected. We all have some tough story about the past... But the real B-Buster is how the age 65 implementation affects the future plans of those seeking to retire in 20 years. If you remove 100K from a O60 guy he just lost 100K from retirement funds. If you remove a 100K from a person 20 years out (assuming no additional savings, growth at 5% is $265,329).
Compound Interest Calculator
So, assuming the junior guy's pay is reduced 40K per years as a result of FO to FE trasnsition (2009 pay scale), three years would be roughly 117K...the affects are real...