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Poll: How important is it for you to plan for retirement?
Thread poster: ProZ.com Staff

ProZ.com Staff
Local time: 19:45
SITE STAFF
Feb 11, 2015

This forum topic is for the discussion of the poll question "How important is it for you to plan for retirement?".

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neilmac  Identity Verified
Spain
Local time: 04:45
Spanish to English
+ ...
Other Feb 11, 2015

Too late was the cry. I don't really intend to retire if I can help it.

 

Chris S  Identity Verified
United Kingdom
Swedish to English
+ ...
Very Feb 11, 2015

You just never know what's around the corner.

Little did I imagine that the royalties from my chart-topping days would dry up following endless legal wrangles with my bandmates, manager and record label, or that pulling pints in a country pub after retiring from my football career would bring in so little I'd have to pawn the Capri.

Luckily I still have a fair few ancient rellies I could bump off if push comes to shove, but as a back-up I have both an official pension (which after 20 years is now finally worth more than I've paid into it) and an unofficial pension (ISAs), into which I pay about a quarter of my income.

I really don't want to spend my dotage dribbling in front of an overly loud telly in a stinky dayroom like my granny. I plan to go out in style.


[Edited at 2015-02-11 10:53 GMT]


 

Kuochoe Nikoi  Identity Verified
Ghana
Local time: 03:45
Member (2011)
Japanese to English
Not that important Feb 11, 2015

I live by the Matthew 6:19-21 principle. Which isn't to say I don't save money or make sound investments, but my hope isn't in fickle riches.

 

Vincenzo Di Maso  Identity Verified
Portugal
Local time: 03:45
Member (2009)
English to Italian
+ ...
We must be proactive in this unpredictable setting Feb 11, 2015

Life is actually unpredictable, let's take it for granted.
However my goal is to have enough economic resources in the future so as I can make a choice, I mean I won't be obliged to work. I may work after the 60es or 70es just if I will be willing to.
Of course we can't just count on Country's state contributions as pension conditions in 30 years (when I should receive my monthly pension for the social security contributions I have paid), and we work out other ways of saving for the future. An private pension fund is important, and one or more houses are an investment worth to be done.


 

Teresa Borges
Portugal
Local time: 03:45
Member (2007)
English to Portuguese
+ ...
Other Feb 11, 2015

I answered "Other", but in fact I should have said "Not important at all" as I’m already retired from my in-house translator position, but just like Neil, health permitting, I don’t intend ever to retire… full time!

[Edited at 2015-02-11 09:59 GMT]


 

Nigel Greenwood  Identity Verified
Spain
Local time: 04:45
Member (2008)
Spanish to English
+ ...
When my production rate drops... Feb 11, 2015

neilmac wrote:

Too late was the cry. I don't really intend to retire if I can help it.


Like Neil, I don'e expect to retire, but my production will, logically, drop and that means my income will also drop. A good 'private' pension scheme (no-one can trust National schemes) will be just right for maintaining my way of life.

Regards,


 

Michael Harris  Identity Verified
Germany
Local time: 04:45
Member (2006)
German to English
Very important Feb 11, 2015

Come on, you do not want to be a burden for others. If you have the opportunity now, save a bit (not gamble on the markets!!) for the future. I have my own four walls that will be paid off in the next 10 years + a small private pension.
Fortunately my wife has a state pension + private one, so I am hoping that it will all work out.
I find not doing anything at all a little irrisponsible really.

Hey Chris, going from being pretty to sporty;-)


 

Mario Freitas  Identity Verified
Brazil
Local time: 01:45
Member (2014)
English to Portuguese
+ ...
Ditto, Michael Feb 11, 2015

Michael Harris wrote:

Come on, you do not want to be a burden for others. If you have the opportunity now, save a bit (not gamble on the markets!!) for the future. I have my own four walls that will be paid off in the next 10 years + a small private pension.
Fortunately my wife has a state pension + private one, so I am hoping that it will all work out.
I find not doing anything at all a little irrisponsible really.


I feel exactly the same way.
I also have a private retirement plan I pay since I was 25. I worked as a regular employee for 20 years, so I intend to pay for the government's social security plan as a freelancer as well (soon).
Nevertheless, I also intend to work for as long as I am able, hopefully until the day before I die.


 

Angie Garbarino  Identity Verified
Member (2003)
French to Italian
+ ...
Same here Feb 11, 2015

Teresa Borges wrote:
just like Neil, health permitting, I don’t intend ever to retire… full time!


Too late for a plan.


 

Michael Wetzel  Identity Verified
Germany
Local time: 04:45
German to English
It's never too late. Feb 11, 2015

I understand that retiring at 65 or 70 may not be a priority or a possibility for a lot of people, but it is at least possible to start spending less money and tucking away a sizeable portion of your income so that you won't immediately become a burden to your children or fellow citizens if you become unable to work effectively (or at all) before you die. And picture yourself at 87 or 93, maybe with a bad back and arthritis, doing what we're doing now.

Personally, I can't think of many things really worth working for except for not having to work anymore. I'm not going to sit around watching TV when I'm old and I may very well keep translating (on my own terms), but I would love to no longer be involved in the business of earning money.


 

Christel Zipfel  Identity Verified
Member (2004)
Italian to German
+ ...
Nearly 18% answered: not important at all Feb 11, 2015

I could understand if teens were answering like that: when you are very young, and still did not start earning your life, normally you don't care about your own retirement. But I don't think we have many teens among us.
Or maybe those people are themselves retired already? Too much, in my opinion...icon_rolleyes.gif

Anyway, if none of the above applies, I agree with Michael that not caring at all would be really irresponsible.


 

Christine Andersen  Identity Verified
Denmark
Local time: 04:45
Member (2003)
Danish to English
+ ...
Very important Feb 11, 2015

It's round the corner!

But don't expect me to disappear completely.

For those who still have time, think about it!
Even if, like me, you live in one of the world's cushiest welfare countries, where the state pension keeps you in bread and butter with a roof over your head. Here, if you want to get out much and have fun, or give more exciting presents to your loved ones than you can make yourself or grow in the garden, then you have to plan early. Or earn some extra money somehow, and translating seems an ideal way to do it.

I didn't manage to save up much, but as long as I can keep going two or three years, I can pop over to the UK and Sweden to see relatives and possibly a bit more of the world, assuming my health permits. Not to mention all those places in Denmark I have translated tourist information about icon_biggrin.gif (and many others). And I won't be taxed quite so heavily as now...

I hope to go out with a bang too - but you never know. Some of my relatives have lived to be VERY old... And there are plenty of things I would like to do!

[Edited at 2015-02-12 00:22 GMT]


 

Sheila Wilson  Identity Verified
Spain
Local time: 03:45
Member (2007)
English
+ ...
Too late now Feb 11, 2015

I was a Shell employee for many years and so was my husband. Fortunately nothing has happened to take away that pension (unlike some private pension plans). I'm also due three state pensions (which wll take some sorting out, no doubt), so I should be OK. Having two unmortgaged properties gives some wriggle room, too. If it isn't enough, it's too late to do anything about it.

 

Balasubramaniam L.  Identity Verified
India
Local time: 09:15
English to Hindi
+ ...
Of course it is very important Feb 12, 2015

Every minute of the day I am working towards that elusive day when I could sit back and enjoy life without the pressure of having to earn the x dollars that are necessary for underwriting the good life of my idea.

I know life is unpredictable and a lot of things are not in your hands, but there is no harm in making a determined try, which is what I do.

I had earlier planned to retire at 45. I achieved that by quitting my regular job at that age and moving into freelancing. I thought I would have my good life then, but though I do enjoy translating, I have learnt that freelancing can be equally stressful in different ways.

Now my dream is to live the rest of my life doing nothing under pressure, and doing only what I want to do. I have set myself a target of achieving this by 60, which leaves me about 7 more years. Let us see if I meet it.

That of course does not mean I would quit translating. Translation is something I like to do and would want to continue doing, but not with a clock ticking away over my head. I will translate things I want to translate at my own sped, write (which I have not been able to do much ever since I got into freelancing), travel, and just potter around doing nothing - a luxury that I can't afford now.


 
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