Over 50 and can't afford to retire

 
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Retirement should be in 10-15 years, but what do you plan if you can't plan to retire?

by Mela Leuca (follow)


Elderly lady working in hardware
Image source: http://www.theguardian.com/education/2011/nov/14/apprenticeships-training-schemes-employment


So, we are in our early 50's, plenty of years left to build up the super fund. But realistically, being at the wrong end of the timespan to take advantage of compound interest, how much are we likely to have? Would it be enough to retire on? My husband says no it won't be, and we just shouldn't plan to retire.

Well, that's okay if we both have employment, in jobs we like, and don't have to take mandatory retirement, and are fit and able. That's a lot of "ifs".

When I ask my friends they say the same thing "we can't afford to retire". So I would like to know what can we do to be able to stop work at some point in time before we die. At the very least, be able to stop full time work and just work part time.

I would really like to hear people's thoughts on what they plan to do if they are in a similar position. I'd also like to hear success stories of how those who did not have super (or not much of it) set themselves up for retirement, and how they manage it.
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The things I have been thinking about include:
where to live - can we afford to stay where we are?
what jobs will take on people over the age of 65 that I could do?
what services will we need - hospital, library, transport?
how much will we need to live on - as we will still have a mortgage and presumably still want internet access etc?
can we live more frugally/sustainably?

Image:HOWARD McWILLIAM
http://www.telegraph.co.uk/finance/personalfinance/pensions/9329557/Working-in-retirement-You-could-boost-your-state-pension-by-3000-a-year.html

This cartoon made me laugh, but as I think about it, what's wrong with working at MacDonalds? Maybe it would be fun? Have you watched American Beauty - when Lester Burnham gets fired/quits and takes a job as a fast food server? It pays little, but it also has very little responsibility and could be a fun job to make ends meet.
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