Retirement Planning - Lessons Learned

Macinnis

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I got a text message today asking if I wanted to sell my home.

Two weeks ago, got a letter asking if I wanted to sell my land at 10% of what I paid, before I improved it.

Both seemed like @Larry Caldwell was on the other side.
 

Larry Caldwell

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Why would you invest your emergency fund??
There's no need to hold it in cash after a crash. If it turns out you need money, just sell the assets. The whole point of an emergency fund is to not be forced to sell assets at a loss. If someone else has already taken the loss, that reason disappears.
 

MossRoad

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I would never put our emergency fund in the stock market, even after a crash, because it can always go lower. Investing it like that is trying to time the market. That's the whole point of the emergency fund. To have cash for emergencies, not risk it, even if it seems like a sure thing. It's self-funded insurance.
 

dirttoys

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There's no need to hold it in cash after a crash. If it turns out you need money, just sell the assets. The whole point of an emergency fund is to not be forced to sell assets at a loss. If someone else has already taken the loss, that reason disappears.
Larry, does that mean you can pick the bottom. I spend a lot of time calculating entry and exit, based on short and long term moving averages as well as a pile of other stuff. I know I can't pick the bottom. I keep 20% of invest-able money liquid to buy dips. BUT, I know the odds of short term losses on those funds are at least 50%. My emergency fund pays the bills till the market corrects. IF I knew where the bottom was for certain, life would be so much simpler..............

I don't think you can say just because the market gave 30%, that is doesn't have another 30% to give. I have 5 years of living expenses in cash/cd's that pay nothing, but, I would be loath to invest that if I genuinely thought I needed it.

Best,

ed
 

oosik

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Goeduck - I've been keeping $$$ in the bank for a long time also. Everybody has a different situation. It's very comforting to know than in an emergency I will not have to eat dirt.
 

Frankenkubota

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For the last 20-30-40? years i've been hearing all about how americans don't have enough saved for retirement. In many cases not a penny and in many more cases, deep in debt.

It's been 20, 30, 40 since i started hearing all that. Whats happening to those folks now?
 

RickB

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There's no need to hold it in cash after a crash. If it turns out you need money, just sell the assets. The whole point of an emergency fund is to not be forced to sell assets at a loss. If someone else has already taken the loss, that reason disappears.
.
 

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hugo454

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Did a search and didn't find any recent threads so here we go......

At 58 with the Good Lord willing my retirement window is 4 to 7 years out. Job is steady albeit stressful at times and hoping I can just ride it out and be happy until it's time to pull the trigger. Finances are in order and almost debt free! Wife and I have been truly blessed.

I hang out here on TBN hoping to buy that subcompact one day for a retirement toy. It will be the Massey GC when that day comes.

One marital debate is will we uproot and move to a retirement dream home we've always wanted or will we stay closer to home and family.

So for the experts:

- What have you learned in retirement?

- What would you have done/planned for differently?

- Did you move away or stay at home and are you happy?

Thanks for your time.

Andy in N.C.
answered in order:
I learned that I work more now than when I had a job (around our home and property and at daughter's home)
I would have bought into the early retirement plan when I had the chance ( I was a former city worker)
We moved to the country,no mortgage,no debt

I retired at age 58 at the onset of Covid
 
 
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