Well... Tomorrow's the big day.. "R" Day!

[drssg]

I think we are basically doing a service to our country with a traditional IRA. With a Roth, the government gets their money up front, and they spend it faster than they get it, like some crack wh0re.

The traditional IRA is forcing the government to invest their tax money to produce more tax money for the future, which is what responsible people are already doing to manage their personal finances.

I'm just doing my part.

 

[oldtimer 66]

I walked thru all of the reply's to understand what everybody feels / senses when they retire.

I had the guilt when going to breakfast, as to what people thought of me not being at work. That took a little while to disappear.

I was part of a reduction in manpower in 2009. I was 60 years old and had 41 years of service. So I had benefits available.

But 10 months later I was back at my same job as a contractor. There were 2 of us that the company brought back.

We both worked as contractors. I worked for 13 out of the 17 years I had been retired. My friend worked somewhat less.

Because I was still working I didn't sign up for SS until I was fully vested at 66. My last assignment ended 9/30/2024 and I was 75 years old.

There is never any down time. My daughter and my 2 grand children keep me busy. The wife is a worker and keeps the projects coming.

I have my building with all of my tools and things. Life's good.

 

[CloverKnollFarms]

So, I retired at 47... Now some say they won't because people need work and purpose.

I actually work just as much as I did before, some weeks. The difference is that I do what I want for work, when I want, how I want. I may make a few bucks, I may not, but that doesn't matter

 

[part-time-Farmer-NC]

Spent all Monday along with my son and grandson cleaning and mostly reorganizing my shop. I have neat rows about 4 ft apart and stations set up for things like Lathe, Bandsaw CNC router, mockup tables.

Taking the last of the companies stuff to them today.

Tomorrow I'm planning to start putting in electrical inside the shop running circuits and mounting the switch/breaker box. Then maybe Monday pull the electrical to it. I am having to run it from my FIL's "old" shop. I'm limited to 40 amps. I also have a 50 amp Gen should/when I need/want it. My welder takes 50 amps for example.

I will be cutting down a few trees soon, pecan, oak & black walnut to harvest the wood to eventually use in my woodworking. I have some already cured so when I get more room I will plan to cut some to replace it. Scraps will be used in my smoker. That maybe next year or the year after when I get it done.
Next week I will be hunting more than shop stuff. Our blackpowder season is in now. Rut is around the corner.

 

[CloverKnollFarms]

Well I had breakfast with my wife today, worked in the shop for 3 hours, now I'm grabbing lunch and heading to the gym to lift with my son. I'll probably work a couple more hours in the shop later, take my wife out after she gets home from her classes, then play some video games online with my daughter in Boston.

I don't have a job, but I'm pretty busy ‍

 

[jyoutz]

I’m not sure how much public lands there are that allow deer hunting in Illinois. My impression is not a lot but I don’t know for sure.

The Shawnee National Forest in southern Illinois is available for public hunting.

 

[dodge man]

Spent all Monday along with my son and grandson cleaning and mostly reorganizing my shop. I have neat rows about 4 ft apart and stations set up for things like Lathe, Bandsaw CNC router, mockup tables.

Taking the last of the companies stuff to them today.

Tomorrow I'm planning to start putting in electrical inside the shop running circuits and mounting the switch/breaker box. Then maybe Monday pull the electrical to it. I am having to run it from my FIL's "old" shop. I'm limited to 40 amps. I also have a 50 amp Gen should/when I need/want it. My welder takes 50 amps for example.

I will be cutting down a few trees soon, pecan, oak & black walnut to harvest the wood to eventually use in my woodworking. I have some already cured so when I get more room I will plan to cut some to replace it. Scraps will be used in my smoker. That maybe next year or the year after when I get it done.
Next week I will be hunting more than shop stuff. Our blackpowder season is in now. Rut is around the corner.

It already sounds like you don’t have enough time in the day. Beats working doesn’t it?

 

[not2old]

I'm not following you. The proposed benefit of the Roth is that the taxable amount is much smaller at time of deposit, than with a standard IRA at time of withdrawal. Yes, your tax bracket may be higher at time of desposit, but for most this difference is many times smaller than the change in taxable amount after many years of growth.

I was the executor of mom and dad's estates and observed that the tax saved when putting money away for retirement was much less than the tax paid when they passed and the taxes were due. We kept their house for thirteen years and that led to a large capital gain tax for me. I put a good portion into retirement savings and drew it out over the next three years, saving a noticeable amount of taxes. That is the only time I got sucked into the government's scheme.