How to retire at 55 instead of 65 or 70.

[MossRoad]

I never made over 50K per year during my 40 year work life. My retirement is perfectly fine. Not well off but not starving either. If we want something above the norm...we save for it. Sounds like your whole life revolves around money and "Money" is who you are. I hope not.

You say that, but you've never walked in his shoes, so you don't know what it's like to have that kind of money, or how you'd handle it. Even if you make 100Gs a year, and plan your budget on 50Gs, and you have to go to 40Gs, you're taking a 20% hit on your 50% conservative budget. That's huge!

When I worked at the airport, I'd service very large, expensive corporate jets. We'd get a couple hundred of them in on a Notre Dame football weekend. These people would fly in from all over the country, take on a couple thousand gallons of fuel(each way), spend a thousand bucks a ticket for the game, limos, catering, etc... A $15,000 dollar day was nothing back in 1980-85. I often wondered what I'd do with that much money, considering I was making $7.50 an hour, or about $15,000 per YEAR. I swore I'd never waste money on things like private planes, boats, etc.... but as I get older, the more I think, if I had the money, I'd buy the toys, larger house, entertain more often, etc.... I could get used to it.

I never begrudged those rich folks. A few were stuck up idiots of course, but for the most part, many of them knew what I was making and treated me well despite that. Very few of them ever talked down to me, and I was tipped well for good service. Got a few nice rides, too.

 

[MossRoad]

Think of it the other way though -in terms of dollars how much has it gone up since Trump has been elected? WOW!

It has been going up since January 2009.... hmm... what happened in January 2009? hmmm....

Let's not bring politics into it.

 

[Doofy]

You say that, but you've never walked in his shoes, so you don't know what it's like to have that kind of money, or how you'd handle it. Even if you make 100Gs a year, and plan your budget on 50Gs, and you have to go to 40Gs, you're taking a 20% hit on your 50% conservative budget. That's huge!

When I worked at the airport, I'd service very large, expensive corporate jets. We'd get a couple hundred of them in on a Notre Dame football weekend. These people would fly in from all over the country, take on a couple thousand gallons of fuel(each way), spend a thousand bucks a ticket for the game, limos, catering, etc... A $15,000 dollar day was nothing back in 1980-85. I often wondered what I'd do with that much money, considering I was making $7.50 an hour, or about $15,000 per YEAR. I swore I'd never waste money on things like private planes, boats, etc.... but as I get older, the more I think, if I had the money, I'd buy the toys, larger house, entertain more often, etc.... I could get used to it.

I never begrudged those rich folks. A few were stuck up idiots of course, but for the most part, many of them knew what I was making and treated me well despite that. Very few of them ever talked down to me, and I was tipped well for good service. Got a few nice rides, too.

I don't begrudge or look down on any man that has the gumption to work. Being rich or poor doesn't make the man. Didn't mean t sound ******.

 

[Doofy]

I don't begrudge or look down on any man that has the gumption to work. Being rich or poor doesn't make the man. Didn't mean t sound ******.

Why would the word "Snotty" get censored?

 

[MossRoad]

I'm sorry, it has been going up since March 2009, not January 2009.

 

[MossRoad]

Why would the word "Snotty" get censored?

Probably got autocorrected to ******.

 

[Doofy]

Hahahaha. You are probably right.

 

[goeduck]

I'm surprised that no one has mentioned the huge drop in the stock market Friday and today or maybe I missed it.

The market was off the rails, it had to happen. I hope not too many counted chickens thinking it was going to continue.

 

[RedNeckGeek]

My taxes suck! I see no relief in retirement. I just sent IRS a check for almost 6K and I haven't worked a day in 11 years.

I agree, taxes suck! But we're paying those taxes because we're making money. It's still "the more you make, the more they take", but you still end up with something after they're done.

 

[RedNeckGeek]

The market was off the rails, it had to happen. I hope not too many counted chickens thinking it was going to continue.

The market regularly has corrections. It's normal to see two or three 4% corrections per year. We were way over due. Those who were sitting on the sidelines with cash they wanted to put into the market will now do so. Those that were short on stocks will have to buy them back at a loss. At some point, probably the next day or two, the selling will stop and things'll go back to normal: A long, steady upward trend. I look at dips like this as opportunities to purchase stocks at prices that are much better than they've been since the election. Other than a blow up on the Korean peninsula, there's not much out there in terms of fundamentals that can continue to drive things down. It's not at all like the real estate bubble that popped in 2008...