A Pew Research Center study (here) found that 23% of 50-year-olds in the United States have never had children.
As a 57-year-old who chose not to raise a child, I wonder how others feel about how this lifestyle choice has, or hasn’t, changed their retirement plans.
For myself, choosing to remain childless allowed me to save more of my salary than would have been possible if I had chosen to raise a family. I’ve seen online articles that suggest it costs nearly $250K to raise a child from infancy to adulthood.

Ken Cutler’s question about his retirement status made me think about how my retirement started. I’m curious about what path you all followed. As I approached retirement in 2020, I considered how much notice to give my employer. I had worked for the company for 20 years. I was not a manager, but I was an expert technical professional and had carved out a very specialized niche within the organization. Substantial organizational changes were implemented during the first three months of the calendar year and as a result I had three different managers over a very short span of time.

The 401k plan is often maligned by pension and retirement advocates. There’s is no guarantee with a 401k and it requires participants to take responsibility, contribute and to take the investment risk. That’s all true but there is more to the story.
I live on a pension as do some HD readers and writers. Would I trade my current fixed pension for a 401k plan, would you?  Not back in 1961 I wouldn’t have, but if I was entering the workforce today,

RETIREMENT BRINGS with it a host of questions. The No. 1 question: Do we have enough for a financially comfortable retirement?
It’s an issue that’s no longer relevant to me, but it’s certainly relevant to my wife Elaine and to almost all HumbleDollar readers. But that fundamental question is just the beginning.
There’s a host of other retirement questions we ought to ask ourselves—about whether we have the right investment mix, how we’ll spend our time,

As I finish this article, I’m sitting in an Airbnb in an older community undergoing a renaissance, nestled between a small mountain and my family’s favorite little city. Atop the mountain, my daughter is attending a three-day “get acquainted” gathering at the college perched there, while my wife and I hang out and practice being a couple again.
Across the room, my wife is catching up on her reading. Freedom from home or family duties feels like a vacation to her,

WHAT DO WE MEAN BY an “enjoyable” retirement?

I suspect there are as many answers as there are retirees. But one thing remains a constant: the need for an adequate income. Given a choice, I don’t think many people would choose to live a frugal, barely financially sufficient retirement.

My father retired at age 66. I say “retired,” but the reality is one day the owner called him into the office and said he was no longer needed.

One of my relatives lived on a pension of $23 a month. Of course that was his military pension in 1866. That’s $491 in 2024 – that’s poverty level for sure. 
In retirement I do a great deal of reading, listening to and viewing opinions and strategies about retirement. Having managed pension and 401k plans for decades, I can’t let go. 
One thing I know for sure, views about retirement are as diverse as each individual.

Obviously, this depends on individual situation. I faced this dilemma in 2023, when I retired. There are pros and cons for each. Many of my colleagues opted for lump sum. That seemed to be the most popular thing to do.  I was one of the few who opted for monthly payment.
With Social Security  and monthly pension, which cover my expenses, I can be more aggressive with investing our nest egg. I don’t need to worry about funding expenses from investments in the midst of market fluctuations. 

I HAVE A FRIEND—we’ll call him Dave—who retired from Wall Street perhaps eight years ago, when he was in his early 50s. Soon after, he designed a sailboat and had it built, and he’s been sailing around the world ever since. In fact, judging from his Instagram updates, Dave is now on his second or third self-designed boat. Or is it a yacht? I don’t know anything about sailing.
At this point, you may be sighing with envy.

I’VE OFTEN BEEN TOLD that I’m too direct. To me, “direct” means to focus on the facts, get to the point, eliminate the fluff, keep matters as simple as possible.

Guilty as charged.

Think of all the time wasted by fluff. After making something more complicated than necessary, somebody is ready to provide a solution to what may or may not be a problem. Fluff thrives on confusion. It can scare folks unnecessarily. Most Americans don’t know how to deal with financial fluff.

WHEN I WROTE ABOUT the Dow Jones Industrial Average reaching 35,000 in 2021, it’ll surprise few to hear that I—like the stock market—was euphoric. I’ll confess that in 2022, as stocks plunged, I felt silly for having written the article.
But here I am again, writing about the latest milestone for our old friend. After flirting with the number in mid-March, the Dow hit an intraday high topping 40,000 on May 16 for the first time in its history.

EVERY TIME I READ about the decline in traditional defined-benefit pension plans, and the rise and supposed failure of 401(k) plans, I get annoyed.
You’d think all Americans once had good pensions that provided a secure retirement. That isn’t—and never was—true. Barely half of American workers ever had a pension and many of those received little value from them because their job tenure was too short. Job tenure has long averaged some four years or so.

HAVE YOU HEARD THIS nonsense about Social Security? It’s nothing but a Ponzi scheme. The trust fund is just IOUs. My favorite: I’d rather invest the money I pay in Social Security taxes because I’d get better investment returns.

All three claims reflect a fundamental misunderstanding of Social Security and how it works. Social Security is insurance—a form of annuity, a type of pension, a social safety net. It isn’t an investment and shouldn’t be viewed that way.

WHEN I WAS YOUNG, I felt immortal. We all did. It’s natural and likely hardwired into our brains. Such feelings of immortality have an evolutionary advantage, encouraging us to take the risks necessary to succeed.
When I planned for retirement, the notion of immortality was front and center. I consider myself in excellent health. I eat right. I’m not overweight. I stay active. I have a close circle of friends and an active social community from which to draw strength.