Retirement Planning - Lessons Learned

[RickB]

That depends on what one views as a "negative." I see "missed opportunity" as a negative. If i can hold cheap debt and invest that money making much more, i'd feel like i wasn't doing my best with money management.

On the cusp of retirement I'm happy to be debt free. The thought of managing an investment portfolio that would fund debt repayment and offset inflation would likely require sustained double digit returns. Despite my past successes I'm not optimistic about those kinds of returns going forward at a cumulative risk level I'm comfortable with at this point in my life. My equity/fixed income ratio is 62% and won't be going higher.

 

[Larry Caldwell]

Share with us who the real leeches are who rake in $millions a day while producing nothing.

MoKelly

Start with the Walton family.

 

[Larry Caldwell]

Ot

Or hang on hoping it comes back only to be delisted...

Since I didn't sell I guess I didn't loose?

My brother was heavy into WaMu and Chrysler bonds. He lost the whole pile. He's dead now, so I guess it doesn't matter.

 

[Larry Caldwell]

What I don't get is how poor often equates to filth and lawlessness...

The trash generated for no reason when free disposal goes unused can only be explained as purposeful or mental illness...

Back in the run up on 2008 I know people that mortgaged to the hilt with refi and the walked as in leaving the country taking hundreds of thousands in cash with them...

One lady said it was her retirement and if the lenders are so stupid who am I to question?

As simple as it sounds... your health is your wealth rings true... so how does anyone explain otherwise healthy people that live on hand outs unless it is the same... if they are stupid enough to offer it... why not?

When you subsidize something you encourage more of it...

I don't see the advantage over selling out and staying on the right side of the law.

 

[goeduck]

I don't see the advantage over selling out and staying on the right side of the law.

?

 

[dirttoys]

That's capitalism for you. With a little effort we can set ourselves up to suck money out of the system for nothing. My wife and I rake in over $90k/year and haven't worked in years. We're nickel and dime amateurs compared to the real leeches, who rake in $millions a day while producing nothing.

Aside from the fact that you mentioned it, I have no standing to ask about your income. 90k a year with no effort is pretty good. If you are making it from investments, your "effort" is the risk of the return or even the principle?

If you make 90k without investing, or working, or feeling guilty, I would probably just quietly enjoy it

Best,

ed

 

[goeduck]

If ,you make 90k without investing, or working, or feeling guilty, I would probably just quietly enjoy it

Best,

ed

Larry,

Could please tell us how you get to $90K a year without working?

I am curious about this statement of yours:
"set ourselves up to suck money out of the system for nothing"

 

[Larry Caldwell]

Larry,

Could please tell us how you get to $90K a year without working?

I am curious about this statement of yours:
"set ourselves up to suck money out of the system for nothing"

Two SS accounts. Two pensions. Substantial savings in value stocks that drip dividends. Next year will be awkward because I have some 30 year 5% federal bonds that mature. No mortgage, so lots of income and little outgo.

I did the whole thing staying debt free, buying two properties we could afford on 10 year and a 15 year mortgages. I haven't rolled up a nickel since I retired 8 years ago.

It used to be a lot easier for working folk to get ahead.

 

[Torvy]

So one pet peeve of mine is when people refer to money they take out of Social Security as income. That money was income when you made it years ago. The government confiscated it and used it. All they are doing now is returning some of your money at a rate of return much lower than even a modest investment would have returned over the same period. All the while, the government was betting you would die before you got old. If a private investment firm offered a deal like SS, people would lump them in with the Bernie Madoff's of the world.

I am not sure which is worse, the scam of SS being perpetrated on people or the way people have bought into so much that they truly believe the government was making them better. Don't believe me? Do the math. Remember, unless you were self-employed, you need to double what you paid in. Sure, they told people their employer was paying, but that just reduced the money they would have paid you or others in salary. {rant over}

 

[RickB]

Two SS accounts. Two pensions. Substantial savings in value stocks that drip dividends. Next year will be awkward because I have some 30 year 5% federal bonds that mature. No mortgage, so lots of income and little outgo.

I did the whole thing staying debt free, buying two properties we could afford on 10 year and a 15 year mortgages. I haven't rolled up a nickel since I retired 8 years ago.

It used to be a lot easier for working folk to get ahead.

So your claim of having this current income without any effort is unfounded, false and misleading. Like anyone else enjoying retirement you and your spouse are enjoying the fruits of a lifetime of effort.
Pretty much the way the system is set up to work if one aims towards the goal of a comfortable retirement.