Retirement

[bogey]

Do you old folks have a retirement plan in place? How much money will you have saved for your retirement? I'm 60 and it's weighing on my mind. I'm wondering if I'm going to have enough retirement $ saved up.

[Over Yonder]

As far as my personal retirement, I am a million years short of having enough that I would be comfortable with what I have saved.

But, at least I have saved some. Like has been mentioned, think how many have no plan or savings at all. Just gonna wing it with Social Security

[cooper barrett]

My first apartment I rented was shown to me by an old couple (70's), I liked it and said I would like to rent it. With no references, they took my name and number, where I worked, bosses name, and asked for a voided check and told me someone would let me know something in a couple of days .

They opened the trunk and put some cleaning supplies in it. It was well stocked with tools, supplies, and paint. They drove off in (I think a 64) blue green Buick LaSabre that looked like it needed compounding but was straight as an arrow.

They were wearing clothes with paint stains, old shoes that were worn, but not worn out. The old man had what I assumed was a fake diamond ring because I had never seen a real one that large. I thought they were the caretakers forced to work to make ends meet.

The next day. my boss called me and told me he had had the strangest call, turned out, this couple asked for the date I came to work, how much I got paid, and if I needed an advance on my pay, if he would give it to me.

I few minutes after his call they called me and told me to bring a cashiers check or money order for 2 months rent and a deposit to a address on Gladstone Ave. I had never been in that area. The place was like a museum, velvet ropes and huge paintings. 14" inlaid ceilings, beveled/ stained glass everywhere. All the furniture was Liberace elegant antiques. He gave me a receipt with instructions to pay the rent. I never saw them again, If something needed attn. they came when I wasn't there.


I learned never to read a book by it's cover.

[Hog's Gone Fishin]

I have No IRA,No Savings ,No Pension,No 401K

But I put everything into Real estate which is 75% paid off and provides me around $12,000 /month income. $7500 net after mortgages.

I'm 54 and TEMPORARILY retired.Bought a boat and a place on Lake Texoma. Taking 2 years off and then will re evaluate. I think I can continue if everything goes right. Started swing trading stocks this year to build some type of additional income and give me some type of satisfaction that I'm accomplishing something rather than just sitting on my ass.

I also put in a stone yard about 15 years ago to pay for my daughters College but thats seasonal. Unfortunately it gets busy when it's time to be fishin.

I have a plan for another business startup that shoud net about 8K a month but it really needs to be started right now and I don't feel like it. I'm goin fishin!

[HemiEd]

Originally Posted by cooper barrett

Pedaling auto parts in Chicago must have some great stories...

I bet it would. I was back in the Electronic Manufacturing business there, selling automation equipment, running a company that provided value added services.

[BigRedChief]

Originally Posted by DaneMcCloud

Dude, UCLA is $32,800 for tuition, dorm and 19 meals a month, which doesn't include book and activities, in 2018

Should I tell my daughter in 2026, when she'll be a Freshman in college, "Hey, that shit is on all you"?

My kid is finishing up a double major this spring. He starts a masters program this summer and then will get his doctorate. So far and what the plan is, he's going to finish his education debt free.

We want him following his vision without worrying about starting out in life with a load of debt. If a parent has the means, how could you not do this for you kid?

[ChiTown]

Originally Posted by BigRedChief

My kid is finishing up a double major this spring. He starts a masters program this summer and then will get his doctorate. So far and what the plan is, he's going to finish his education debt free. We want him following his vision without worrying about starting out in life with a load of debt.

That's where I am at, BRC.

It was much different when we went to College (I think we are both in the same age bracket). This is my gift to my kids. How they choose to use it is up to them, but they won't have any Educational Debt when they are done with school.

[Al Bundy]

Originally Posted by BigRedChief

My kid is finishing up a double major this spring. He starts a masters program this summer and then will get his doctorate. So far and what the plan is, he's going to finish his education debt free.

We want him following his vision without worrying about starting out in life with a load of debt. If a parent has the means, how could you not do this for you kid?

How long will he be living with you once he is done with his masters program?
Edit: My mom's gift to me was letting me live with her for the first 2 years of college and then I was out on my own.

[BigRedChief]

Originally Posted by Al Bundy

How long will he be living with you once he is done with his masters program?

He may have to move out and change cities to get into the masters and doctorate program he wants.

[SAUTO]

Originally Posted by bricks

Heres what you should do; first off, is your daughter pretty? If she is, she could make a fortune!

Seriously, in this society sex ****ing sells. You MUST let that be known to her. If I was a woman, Id be the biggest ****ing slut alive and thrive off making thousands off men. Get her to pursue an occupation as a part time stripper or something? I’ll bet she could shake that a** and make men howl greater than a pack of wolves thousands of miles away.

Then on the side she could maybe do some porn or some escorting and within a few years of making awesome money her tuition will be paid off before you know it. If you decide to go this path, then you could say with CONFIDENCE, you pay for your own ****ing tuition!!! While I save for my retirement!

Bitch, sometimes in life you gotta know when to take advantage of opportunities when they are there!

kill your whole family and then yourself

[Rain Man]

Originally Posted by SAUTO

kill your whole family and then yourself

Then you don't have to save for retirement at all.

[RunKC]

Originally Posted by BigRedChief

My kid is finishing up a double major this spring. He starts a masters program this summer and then will get his doctorate. So far and what the plan is, he's going to finish his education debt free.

We want him following his vision without worrying about starting out in life with a load of debt. If a parent has the means, how could you not do this for you kid?

I really hope I can do this but it just doesn’t seem possible.

[Rain Man]

Originally Posted by RunKC

I really hope I can do this but it just doesn’t seem possible.

You do what you can. Personally, I think a parent's first priority should be to save for retirement so they aren't a financial burden on their kids late in life. That's just as valuable in the long run in my opinion.

[O.city]

My parents paid for my undergrad, which wasn't much do to scholarships and shit but they still got it done.

Didn't ask them to pay for dental school that was on me.

The rate I'm going right now, I should have enough to pay for my 2 to go to college and i'm hoping if they want to go on to med school or more optimal dental school, I can pay for a large portion of that and have them a practice to walk in to when they're done. Would really set them on a good path.

Way I see it is I'm working hard now to build a family brand that will be a lot easier for them down the road. Its not always fun, but it is what it is.

[mikeyis4dcats.]

Originally Posted by Rain Man

You do what you can. Personally, I think a parent's first priority should be to save for retirement so they aren't a financial burden on their kids late in life. That's just as valuable in the long run in my opinion.

Thats where we are. Saving all we can for retirement, with college being secondary. We will have our house paid off by the time my oldest graduates high school so that will free up some money to help him, if he even ends up in college. I think he'd be better to focus on a trade that is in demand.

We're in our early 40s and have over 240k in my 401k and my wife has KPERs. We are behind in retirement IMHO, but I know we still are ahead of a lot of folks.

[cooper barrett]

Originally Posted by HemiEd

I bet it would. I was back in the Electronic Manufacturing business there, selling automation equipment, running a company that provided value added services.

PLC based?