Retirement is just around the corner?

At least according to T Rowe Price.

I got this notice in email today.

Now, I understand the importance of saving for retirement. I've been doing that since I was 25. I know I shouldn't plan on Social Security being around. It probably will be, but there's no guarantee. And I can easily see myself working past 65 or 70, not by necessity, but by choice.

But even so, I'm only 27 37 today. And retirement is just "a few years away?" Really? Do they think people retire at 40? Or maybe 45?

Seriously, these people at T Rowe Price have my age and time with the company on record. What are they thinking? Do they know something about my career prospects that I don't?

In the best of times, you can't assume that 99% of those under 40 are just a few years from retirement. But now? With more people losing their jobs with minimal savings, they think people in my age bracket are about to retire?

With 401Ks and traditional pensions taking huge hits in the stock market free fall do they really think retiring on these nest eggs makes any kind of sense? Have they checked the market lately?

Is someone at T Rowe Price just trying to artificially create opening for their own college graduate kids who are now looking for jobs?

Retirement is not just a few years away. It's a few decades away. I think that's a reasonable assumption to make for most people in their thirties. And, yes, we should all be planning for it, but that is long range planning.

If T Rowe Price has such shoddy financial planning that they think the majority of those under 40 are just "a few years away" from retirement, then perhaps I shouldn't trust them with my retirement savings.

Or perhaps someone needs to teach them how to filter and appropriately direct their broadcast emails.

"retirement just a few years away." Yeah. I have my doubts.


Unknown said...

I remember when people looked forward to the magic age of 55 because it was set in stone that one moved on to a life of relaxation...Kids are all grown up and employed with families of their own. Not today, as you said there is no way that people can, even if they wanted to retire before 65. These days kids are moving back home with an extended family because they have no means of supporting themselves.
It has become a very challenging world for all of us. If you did not start a retirement plan of some sort when you were 19 these days...you can forget about ever retiring!
AS I said ....a sad day!
Thanks for the great words of wisdom and reality!
Have a very good day!

Anonymous said...

My father in law got an envelope in the mail the other day the envelope had a sticker on it, like the ones you usually see that said (free or Look inside!) except this one said "Register to win a free cremation."

How macabre.

I think he'd rather have your email...

Anonymous said...

Most days, I feel like we are just one catastrophe away from bankruptcy. My husband had to wait until he was 59 to retire from the government. Our golden years are a little tarnished though. We can't afford to do much.

Anonymous said...

I invested my retirement in the AIG Suicide Fund. I am ready to retire anytime now.