Retirement Question

[kenmac]

I'll think about ya'll worker bees while I'm enjoying myself this week at the FL. Gulf. LOL... I sure love this retired life... Just pack up and go when ever you like ! No business to manage, no customers calling, etc,. Life is greater than I ever thought it could be !

 

[cat fever]

I'll think about ya'll worker bees while I'm enjoying myself this week at the FL. Gulf. LOL... I sure love this retired life... Just pack up and go when ever you like ! No business to manage, no customers calling, etc,. Life is greater than I ever thought it could be !

I'm happy for you and can barely wait for my turn.
In reality I could retire but I'll put in 2 more years because my pension will increase quit a bit and my 401K, and I'm only 53. (sometimes my back feels like I'm 93)
In fact I'm happy for every one that gets to retire and enjoy life. 2 years and my alarm clock is going in the garbage.:laughing:

 

[kenmac]

well, I had no pension. Just my investments, and what I got off the sale of my business. I guess I should have sod sooner, but The timing and the offer was just right this time.

Alarm clock ? LOL you may need to refresh my memory..

I sold out a yr ago, but I stayed with them for about 6 months helping them out during the buy out. Now I'm FREE ! Good luck. I wish you the best !

 

[KWRB]

With me I've assumed that I will not be able to afford retirement because I will be drawing against my retirement savings and that my property taxes will pay for people who retire before AGE 70. I'm aged 47.

I assume that I will die working and I assume that I cannot retire.

My father died ten years ago today, at age 47. He worked his butt off and never got to see the other side of working life. I try to tell myself to enjoy my life because retirement is not guaranteed, but it ain't easy to break free. Sucks. I don't like being bitter toward my parents' generation or my grandparents', but they have bankrupted us and borrowed against our future, long after they're all gonna be pushing up daisies. Hence, if I make it that far, I'll be working right alongside ya.

 

[California]

bankrupted us and borrowed against our future

Don't let your generation start any unfunded wars. Raise taxes immediately for pay-as-you-go and get the entire country participating, if you must get involved in one.

 

[Thall303]

No need to be bitter.

Perhaps it would be better to analyze what politicians and their supporters created this mess.

Many of my generation have fought these programs tooth and nail!!

 

[Buppies]

No need to be bitter.

Perhaps it would be better to analyze what politicians and their supporters created this mess.

Many of my generation have fought these programs tooth and nail!!

Agree

 

[Venomoth]

Do yoga and more stretch. They are good for you. If some poses are difficult, try prop like yoga wheel, it helps a lot for your practice.

 

[Frankenkubota]

This borrowing $ and putting on our children has been going on for thousands of years. It’s Not fair to put it on our parents and grandparents, they were just going along for the ride, just like us.

I play bluegrass a few times a week with some of the most wonderful people in the world, mostly country folks. I’ve also had private dinners in Europe with CEOs of huge multinational corporations. I was married to a teacher for over 20 years, her teacher friends were my friends. He entire family worked for the government and all on big fat pensions now. I grew up as blue collar as you can get. Did you ever do piece work on a punch press, pre OSHA? I’ve known people from ALL walks of life. I’ve lived outside my zip code.

When I’m at a function, any function, and someone complains about the debt the first question I ask is.....

How many here get a check from the government? In one way or the other, virtually everyone gets $ from the govt and almost universally, they think their benefit is earned, owed to them.

I’ve said it before, forget about the debt. No one in their right mind thinks that’s ever gonna get repaid, gimme a break.

Think of the debt like living in CA. On the Earthquake fault. We all know it’s coming, just hope we die before it happens.

Pretty pathetic way to approach things. Human nature is a powerful thing.

 

[Bendboater]

My question: before you decided to retire from your "career" job, what percentage of your "fully employed" income was necessary as a retirement income?

Hi.
You might find the "Maxifi Planner" software helpful.
Good luck.

 

[shovelmike]

Frankenkubota: I'm glad you can get together and play your music. For 2 or 3 years I was making monthly visits to nursing homes, playing gospel, country, and classic rock and roll...sidelined by COVID 19 of course.

 

[ultrarunner]

Yep... seniors in assisted living and skilled nursing are for the most part on lock down... the isolation is taking a heavy toll.

Music really is the universal language...

As for punch presses I did my time and dodged a bullet...

The old press engaged and someone I know was left with half a finger and thumb.

 

[MoPops]

Interesting thoughts on the national debt. I wish someone in DC had the guts to address it, but if they did, they’d never get re-elected. The biggest problem I have with it is that each year more and more of the overall budget it now an interest payment. It may be the biggest budget item outside of SS and Medicare. I alway hear about cutting the budget etc. but nobody ever says reduce the interest we are paying.
I also consider SS and Medicare a bit different than other social programs. Most of us paid into them for 40+ working years. To lump them in with payments to someone that just moved here, and wants rent assistance, a free phone, free food, etc., just doesn’t make sense.
I’ll never get back the $$ I dumped into SS while working. I would have to live to 120, but the few $$ I will get back I’ll gladly take.

 

[kthompson]

Interesting thoughts on the national debt. I wish someone in DC had the guts to address it, but if they did, they’d never get re-elected. The biggest problem I have with it is that each year more and more of the overall budget it now an interest payment. It may be the biggest budget item outside of SS and Medicare. I alway hear about cutting the budget etc. but nobody ever says reduce the interest we are paying.
I also consider SS and Medicare a bit different than other social programs. Most of us paid into them for 40+ working years. To lump them in with payments to someone that just moved here, and wants rent assistance, a free phone, free food, etc., just doesn’t make sense.
I’ll never get back the $$ I dumped into SS while working. I would have to live to 120, but the few $$ I will get back I’ll gladly take.

Totally agree.

 

[CADplans]

,,,,,,,,,,,,,,,,,,,
I値l never get back the $$ I dumped into SS while working. I would have to live to 120, but the few $$ I will get back I値l gladly take.

We calculated what we put in SS,, and what we have got back,,
If you include the $,$$$ for health insurance,, the wife and I got our money back years ago,,

I think most people forget that,, imagine writing a check every month for health insurance,,
(right before I turned 65, my health premium was $1,200 per month)
if most people needed to do that,, they would never quit working, and they would stay at whatever job would supply medical insurance,,

 

[ultrarunner]

We calculated what we put in SS,, and what we have got back,,
If you include the $,$$$ for health insurance,, the wife and I got our money back years ago,,

I think most people forget that,, imagine writing a check every month for health insurance,,
(right before I turned 65, my health premium was $1,200 per month)
if most people needed to do that,, they would never quit working, and they would stay at whatever job would supply medical insurance,,

Is that dollar for dollar or money put in earning compound interest invested?

There was a time way back when SS started when plenty of new cars could be had well under 1,000.

Gov can inflate its way out of debt repaying with cheaper dollars.

 

[MoPops]

We calculated what we put in SS,, and what we have got back,,
If you include the $,$$$ for health insurance,, the wife and I got our money back years ago,,

I think most people forget that,, imagine writing a check every month for health insurance,,
(right before I turned 65, my health premium was $1,200 per month)
if most people needed to do that,, they would never quit working, and they would stay at whatever job would supply medical insurance,,

I’m still not taking SS (at 66) so I am paying for health insurance (Medicare) every month. Medicare was taken out of my paycheck every month also. I guess that’s why I look at Medicare and SS separately.