RE: No retirement -- MIDRANGE-L

Actually, I was joking.  My daughter's account was set up when she was 3 
mos old.  My point was that the rate that colleges are going, the cost of a 
school will far outweigh what most people have in mind when they start up 
their plans.  The loan program is already dried up (according to a relative 
who is going through the situation now) for anyone in the middle to 
upper-middle class, because of all of the people who defaulted on their 
loans.  Any of you out there?

----------
From:   Carl Galgano[SMTP:cgalgano@ediconsulting.com]
Reply To:       MIDRANGE-L@midrange.com
Sent:   Wednesday, November 25, 1998 4:41 PM
To:     MIDRANGE-L@midrange.com
Subject:        Re: No retirement

Richard:
I agree with you.  When both my sons were born I set up accounts at mutual
fund companies for them and contribute a small amount every month.  I do
this in addition to planning for my own retirement.  I am amazed how much
money there will be for these kids educations.  Sure, the markets been
great, but I believe the plan is as important as the economy.  I'm with Don
and hope to retire young.
Carl
-----Original Message-----
From: Rich Brown <RBrown@softwarejungle.com>
To: 'MIDRANGE-L@midrange.com' <MIDRANGE-L@midrange.com>
Date: Wednesday, November 25, 1998 4:10 PM
Subject: RE: No retirement


>I have been ignoring this thread until this email message.  It takes at
>least 18 years for a child to make it to college from their birth, and
>if you have not saved the money for them to go to college (which I
>acknowledge is difficult) then it is your fault.  Why would you pay for
>their college education from your retirement savings?  If you decide to
>do that, the fair thing to do is insist that your child should take of
>you after you retire since you paid for their college education from
>your retirement savings.
>
>Richard Brown
>TrailBlazer Systems, Inc.
>http://www.softwarejungle.com
>(770)850-6966
>
>> -----Original Message-----
>> From: Krys Theodore [SMTP:ktheodore@marksbros.com]
>> Sent: Wednesday, November 25, 1998 1:17 PM
>> To: 'MIDRANGE-L@midrange.com'
>> Subject: RE: No retirement
>>
>> As I have gotten older, I have become more concerned about this issue.
>> I
>> don't think that I have an option at this point.  I will be closing in
>> on
>> 60 when my daughter gets out of college.  I expect that will take most
>> of
>> my savings.  While I will never regret my 'late-in-life' child, I
>> would
>> love to know how I will ever be able to retire.
>>
>> ----------
>> From: HankHeath@aol.com[SMTP:HankHeath@aol.com]
>> Reply To: MIDRANGE-L@midrange.com
>> Sent: Wednesday, November 25, 1998 9:36 AM
>> To: MIDRANGE-L@midrange.com
>> Subject: No retirement
>>
>> I've been reading recently that a lot of the baby boomers in the U.S.
>> are
>> coming to an astounding deduction: they may not be able to retire.
>> Government
>> assistance such as Social Security is unsupportable and too little,
>> too
>> late.
>> The baby boomer generation has had to speculate on real estate, which
>> has
>> not
>> shown the returns they need to settle into a retirement home. They
>> have had
>> children late in life, whom they now have to support through college
>> and
>> more.
>> Pension plans  and savings have not been well managed. Inheritances
>> are
>> over-
>> taxed. In other words, there is little left to take to the sunny
>> beaches of
>> retirement.
>>
>> For a person like my self, this is not a major problem. I have always
>> loved
>> work, and planned to stay on board until someone kicked me out of the
>> organization. However, I am curious as to how this retirement scenario
>> is
>> viewed by Midrangers? What do you folks plan on doing?
>> +---
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