Retirement thoughts

[MickintheHam]

You’re talkin’ about my women.

[kingcat]

Those gals are advertising.

Not themselves naturally but to sell their crotchet, needlepoint, and other types of needle work.

[ETWNAPPEL]

I turn 55 this year and thanks to My government pension and 401k I can retire very well. My issue is it scares me. How will I fill my days? I love my job. Look forward to it every day. On sunday nights I can’t wait until Monday.

I keep putting off the age I think I will retire. Not sooner than 67 now.

I seriously think I will volunteer either at Habitat for Humanity or be a handy man at my church. Like everyone else I want to travel, but not non stop.

I just hope I am healthy enough to stay active.

[KSRBEvans]

I was listening to a Rick Steves podcast and he interviewed this couple who call themselves The Senior Nomads. When they retired in 2013 they decided to rent out their house and take the money to travel the world. But they don't necessarily do it the way tourists on a short vacation do: they might spend a month in Lisbon, then 6 weeks in Madrid, etc., living more as locals. Eventually they sold their home and use those proceeds to travel.

That appeals to me, at least in a modified version. I could see us getting a place and renting it out for a few months/year and living like they do, but coming home after awhile.

[Catfan73]

I was just discussing retirement with a brother the other day. He retired from the Army (full Colonel) a couple of years ago. He said it’s like every day is Saturday lol.

I plan on working another 9 or 10 years God willing, which would get me to 67 or 68. My 401k and stock should be enough to live on by then in the manner we’re accustomed to. I’m not planning on really getting anything from SS so anything at all will be icing on the cake. The problem is my wife will be able to retire in 2 or 3 years. She’s a teacher and should get a decent pension but I worry about what she’s going to do. I’m hoping she’ll sub part time for awhile because I know she won’t be able to sit around the house every day. We’ll probably end up either in the Florida panhandle or around Henderson NV but I hope to be able to travel for a couple of weeks at a time a couple of times a year.

[MickintheHam]

All the time I hear people say they will never retire. One fact I have learned is while you may enjoy your work, you may not be able to exist in the ever changing workplace. I had a call just before Christmas from my old business partner. He is probably one of the world’s 10 leading experts in his field, a person I never expected would ever retire. He announced he was retiring this October. While his knowledge and expertise is in demand, he can’t deal with the changing workplace. Anyone planning to work past 65 to 70 needs a Plan B. It is almost impossible to continue doing what you are doing.

[catmanjack]

Always enjoy post in this thread, I am about 15 years away and honestly can’t wait, that would put me at about 45 years in the auto industry and about 25 too many!
Wife is a teacher and will be able to retire before me but we discuss the changing environment within the schools and how each year the kids start kindergarten knowing less and less and are more disruptive.

[suncat05]

I am going to retire from the Sheriff's Office, but I do not intend to "retire" retire. Not as long as I am physically capable of making a contribution to the household.
But I am 100% for sure finished with ANYTHING that has to do with law enforcement. Finished. Done. Over. FINI.
I am looking at civilian work at the Kennedy Space Center and/or Patrick Air Force Base, which is due to become the Space Command Headquarters.
Or maybe take that guy's offer to work security at his medical herbal dispensary. I
I don't know about anything for sure yet, but I'm finished with po-lice work. 😎

[Carolinawildcats]

I have 2 more years and my plan is to leave and start drawing my pension and then get a part time job elsewhere. I am SOOO ready to go.

Peace

Richard (CW)

[ukpumacat]

Focus on what gives you pleasure. For me it is kids, grandkids, and following the Cats. It’s who I am. I decided not to invest in beach property. I am 4 hours away. I can live there 1 month a year for the next 20 years for a lot less money than it would take to purchase. I love the beach, but that’s enough. Going to Lexington and being around kids and grandkids for a week every month keeps me connected with what’s important. And there is fun associated with getting together with daughter and SIL a couple of times a week here in the Ham. These things are what pleasure me. I have great friends in Kentucky and Alabama and they add great pleasure to my life.

But, above all, do what makes you happy. Nothing else matters. Do not do what someone else expects you to do. Best wishes and Good Luck.

Well said Mick.

Oddly, I have been thinking about this a lot more lately. My wife and I both basically work for ourselves so our retirement will be on us (as opposed to a pension, 401K match etc). Thankfully, we own a home in an area that will soar in value in the next 20 years. And we are spending a decent amount of time researching whether we want to buy a rental property etc.
A lot to consider for sure...so I am trying to be smart about it before I really need it.
Appreciate threads like this for advice.

[blueboss]

At 59.5 I took out 90% of a 401K and put it in an IRA. I’ve still got the 401k working, but I have better/easier control with IRA and the money guy has done pretty well with it.

I keep the 401 for the match deal, sooner or later I’ll move that into something with a better return.

Stocks are rolling pretty well with the Trumpster, so that’s helping too. We had those two episodes over the last year or so that stung a little but it opened the door to buy, buy, buy.

...bottom line (pun), God willing and the creek don’t rise, I’m short timing. Thinking, maybe five more years.

At that point I think I’ll follow the ole adage, if it flys, floats, or f@&>~ks... rent it. I got Mrs. boss so I’m going go for 2 out of 3.


Sent from my iPhone using Tapatalk

[MickintheHam]

At 59.5 I took out 90% of a 401K and put it in an IRA. I’ve still got the 401k working, but I have better/easier control with IRA and the money guy has done pretty well with it.

I keep the 401 for the match deal, sooner or later I’ll move that into something with a better return.

Stocks are rolling pretty well with the Trumpster, so that’s helping too. We had those two episodes over the last year or so that stung a little but it opened the door to buy, buy, buy.

...bottom line (pun), God willing and the creek don’t rise, I’m short timing. Thinking, maybe five more years.

At that point I think I’ll follow the ole adage, if it flys, floats, or f@&>~ks... rent it. I got Mrs. boss so I’m going go for 2 out of 3.


Sent from my iPhone using Tapatalk

Good Luck Blueboss. the last few years have been great for investors. Just putting money in a S&P index fund would have given an investor returns beyond belief. Going after fair trade has unlocked unbelievable returns in the US market. It should continue for a while as long as we continue the same policies. The US economy has been suppressed for 20 years. We are in a period of catch up.

[bigsky]

Mick nailed it about the changing workplace.