I fully retired in 2010 . Sold my office and never looked back .
Scrounging Firewood (and other stuff)
- Thread starter mainewoods
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Ya just hope you don’t outlive ur funds , or the economy
Won’t happen . I’m making more now than when I worked no debt either . In 8 years they are going to make me take money from my 401k that I haven’t touched pisses me off too
A lot will depend on the next election. Not all of the problems will be easy to solve, but a different energy policy will make a big difference.I’d like retire to a little early, but the cost of living is creating issues, and only gonna get worse as time goes by,
When you lower the cost of energy, you lower the cost of manufacturing, growing, and transporting everything else.
Very true. One of my favorite quotes (from a seminar): "Most people don't have plans that fail ... most people have a failure to plan."
Even if you don't reach your goals, you will generally get closer if you have a plan!
At least they raised the age a couple of times (70.5 to 72 to 73). Also, if you did Roth IRAs, they can be tax free and no mandatory distributions. They can also go tax free to beneficiaries. If you are still working (on the books) you likely can still do them.Won’t happen . I’m making more now than when I worked no debt either . In 8 years they are going to make me take money from my 401k that I haven’t touched pisses me off too
These were 401ks through Allstate so it was pre tax monies . They matched my contribution up to 4% of pay . Also had a profit sharing plan
Like I said, a lot depends on this next election.
Obamacare created about the highest medical costs in the world ... with the promise of how much it would help us. Conversely, life expectancy is declining for the first time in our history, and life expectancy for minorities is declining faster than for non-minorities (so it did not help who it promised to help).
Trump is the only candidate I have heard who has said he will reverse Obamacare. Some steps were taken in the first four years (or it would be worse), but not enough!
Can't complain about a company match, and over the years it should have grown nicely. Also note these plans did not preclude you from doing a Roth.
After you retired, you could have rolled it to an IRA and expanded your investment options.
Weather update: power went out this morning as my wife walked out the door to work. I pondered getting the generator out for a few minutes, then decided to do it. Only takes a few minutes and I don't mind running it occasionally anyway. And it ran for maybe 2 hours until the power was back on. Not sure what weather caused the outage as it's near freezing and no precipitation or wind to expect downed lines.
There is some snow on the ground as shown in this pic from keeping busy while the power was out.
There is some snow on the ground as shown in this pic from keeping busy while the power was out.
Living a long time can create issues down the road. My father has been retired for 37 years and is okay... one of the last with a real pension plus his own planning. I know a bunch of guys who have been retired for much shorter periods of time and ended up having to go back to work. This in an environment where old dudes don't have many opportunities due to physical limitations and hiring biases. Though choices. Me... I've told my sons for many years that when I get old, cannot take care of myself and become a PITA, that they are to take me far out into the woods during deer season and leave me there with a beater gun. A twist on an Eskimo tradition. They remind me of that occasionally.I’d like retire to a little early, but the cost of living is creating issues, and only gonna get worse as time goes by,
All to true ,Living a long time can create issues down the road. My father has been retired for 37 years and is okay... one of the last with a real pension plus his own planning. I know a bunch of guys who have been retired for much shorter periods of time and ended up having to go back to work. This in an environment where old dudes don't have many opportunities due to physical limitations and hiring biases. Though choices. Me... I've told my sons for many years that when I get old, cannot take care of myself and become a PITA, that they are to take me far out into the woods during deer season and leave me there with a beater gun. A twist on an Eskimo tradition. They remind me of that occasionally.
Civil service, Federal or State government jobs are the way to go , my son-in law could retire if he wants from State Police at 47 this year , will receive over 150K a year and free Health benefits for the rest of his life ,
Yeah... Early in my career I had life, health and variable annuity licenses. I was shocked by how little planning was going on. That included the corporate people (especially them) who figured the company was going to take care of them... fools! I knew a couple who both worked for Big Blue and both got laid off at the same time. They had no independent savings or investments, lost their house, cars, and everything else on which they had loans. They ended up living in the basement of her parents' house. Never heard from them again... I grew up in a planning household and assumed everyone did. Boy was I WRONG!
I had a 6% match and rolled over to an IRA. The 401K was with the same company. However, the 401K management and options performed poorly compared to the IRA. I found a good CFP (not one of my friends... won't mix such business with friendships) and so far it's working well. Rolled my old IRA I had with a different company... the seasoned guy I had was replaced by a team of kids. They blew with the wind.... inconsistent and ever changing people and advice. Nope...
I have two retirements and in June I have an annuity that matures that will pay me monthly for as long as I live . Plus the rental property. And I have my SS for as long as the government can pay meLiving a long time can create issues down the road. My father has been retired for 37 years and is okay... one of the last with a real pension plus his own planning. I know a bunch of guys who have been retired for much shorter periods of time and ended up having to go back to work. This in an environment where old dudes don't have many opportunities due to physical limitations and hiring biases. Though choices. Me... I've told my sons for many years that when I get old, cannot take care of myself and become a PITA, that they are to take me far out into the woods during deer season and leave me there with a beater gun. A twist on an Eskimo tradition. They remind me of that occasionally.
People haven’t got a clue . Before I retired I set up plans for my kids they are very good about it and contribute monthly . I had all the licenses too but I let them go . Paying for continuing education and meeting the standards to keep my securities license just was to much of a pain in the butt
Forgot to add I make some coin buying and selling the occasional truck or car . My 85 is up for sale at the moment .
Well it’s nice enough outside to work on the cutting board I’m making from the cooktop cutout . I’m sure my wife won’t use it . I can hear it now “ But it’s too nice to cut on “ 
No stain on the board so it offsets the counter nicely 
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