This is the way to retire

[Rain Man]

He retired during a game, while losing a game, incurring a penalty, and confusing people about what was going on. That's not really how I'd like to go out.

[BWillie]

He could have at least had the class to retire at halftime of the 3rd game off the season.

[Bowser]

Thought this was going to be about the person(s) that won the 1.6 billion mega millions.

[BWillie]

I think young people should retire from 22-38. Get loans, travel the world, have as much fun as possible, then settle down, get a job, look straight ahead and wait to die.

My goal is to die with negative equity and no money in my pocket. Once I acquire enough currency Im never going to do anything I dont want to do ever again. Ive calculated I need 2.2M to do that at my current age - assuming I can live until Im 68. Money wont matter yo me after that anyway - Ill just sit in a chair watching Matlock or fantasizing about Angela Landsbury or something

[Abba-Dabba]

Originally Posted by BWillie

I think young people should retire from 22-38. Get loans, travel the world, have as much fun as possible, then settle down, get a job, look straight ahead and wait to die.

My goal is to die with negative equity and no money in my pocket. Once I acquire enough currency Im never going to do anything I dont want to do ever again. Ive calculated I need 2.2M to do that at my current age - assuming I can live until Im 68. Money wont matter yo me after that anyway - Ill just sit in a chair watching Matlock or fantasizing about Angela Landsbury or something

Don't worry. Modern medicine will keep you alive till you are 89. Better save up.

My goal is to die with enough money that all future generations of my family has as many doors and opportunities opened that wealth can provide.

[Rain Man]

How are you guys retiring in your early 50s? Do you have military or government pensions or something? I've been saving my whole life and I make decent money, and I'm still a decade away in my mid-50s.

Granted, I'm terrified of running out of money so I'm being conservative on savings, but still...if I retired now my standard of living would drop dramatically.

[jd1020]

This just seems more like a douche move to me.

Stop play to get all eyes on you as you walk across the field, eventually off the field completely, leaving your losing team behind?

Feel like there is a better way of retiring that shows a little more respect to your players.

[Hog's Gone Fishin]

Originally Posted by Rain Man

How are you guys retiring in your early 50s? Do you have military or government pensions or something? I've been saving my whole life and I make decent money, and I'm still a decade away in my mid-50s.

Granted, I'm terrified of running out of money so I'm being conservative on savings, but still...if I retired now my standard of living would drop dramatically.

I acquired rentals . I have 10K /month income from them to get by on. It's almost impossible to save your way to retirement. I was just figuring this morning how much I'm paying for insurance. it's a goddamn money pit.

Insurance for
Home
Autos
Health
Life
Boat
Lake House
Rental properties
Liability ins/ umbrella

$2374/month
and the best part is it takes a disaster or death to collect.

And my factory warranty on my truck expires in 4000 miles and to get a warranty extension is $244/month for 24 months and my daughter is 18 and when she gets her license in december that adds another $1300 /year

About to say **** all that.

[scho63]

Originally Posted by Hog's Gone Fishin

I acquired rentals . I have 10K /month income from them to get by on. It's almost impossible to save your way to retirement. I was just figuring this morning how much I'm paying for insurance. it's a goddamn money pit.

Insurance for
Home
Autos
Health
Life
Boat
Lake House
Rental properties
Liability ins/ umbrella

$2374/month
and the best part is it takes a disaster or death to collect.

And my factory warranty on my truck expires in 4000 miles and to get a warranty extension is $244/month for 24 months and my daughter is 18 and when she gets her license in december that adds another $1300 /year

About to say **** all that.

I could easily torch your barn or house or boat or rental property for a 25% cut of the insurance proceeds. Jersey guys know how to get it done!

Just let me know as I have about 55 gallons of gas and other incendiary liquids ready to use and a lot of time on my hands!

[FlaChief58]

Originally Posted by Rain Man

How are you guys retiring in your early 50s? Do you have military or government pensions or something? I've been saving my whole life and I make decent money, and I'm still a decade away in my mid-50s.

Granted, I'm terrified of running out of money so I'm being conservative on savings, but still...if I retired now my standard of living would drop dramatically.

We've always lived within our means and not spent money just because we could. No credit cards or car payments, just mortgage and reoccurring bills.

[Rain Man]

Originally Posted by Hog's Gone Fishin

I acquired rentals . I have 10K /month income from them to get by on. It's almost impossible to save your way to retirement. I was just figuring this morning how much I'm paying for insurance. it's a goddamn money pit.

Insurance for
Home
Autos
Health
Life
Boat
Lake House
Rental properties
Liability ins/ umbrella

$2374/month
and the best part is it takes a disaster or death to collect.

And my factory warranty on my truck expires in 4000 miles and to get a warranty extension is $244/month for 24 months and my daughter is 18 and when she gets her license in december that adds another $1300 /year

About to say **** all that.

That's my biggest financial mistake. I really should've leveraged myself 20 years ago and bought a rental property or two. I'm considering it even now as a diversification strategy, but I'm at the point where it's questionable to do that. I'll gain net wealth in the long term, but I'll be in a life phase where I'll need cash flow more than wealth.

Originally Posted by Flachief58

We've always lived within our means and not spent money just because we could. No credit cards or car payments, just mortgage and reoccurring bills.

But...but...I've done that. I've put money into a savings or retirement account every year that I've been in the workforce, and not just the minimum. I've done employee matches, eliminated debt, and paid off my mortgage early. I save money like crazy. But I look at the income that my investments would produce, and it's a fair bit below my current income.

I could retire now and live very simply for the rest of my life if I really watched my spending, but that's not really my goal. I want to maintain my current quality of life, more or less. And admittedly, my current life is pretty good with travel and my wife's shopping patterns.

The weird thing is that I'm going to enter a doughnut soon. I think by my early 60s I'll be able to completely replace my income if I count social security, but I won't get social security until 67 (on my current plan). So I'll have 5 years or so where I'll be overshooting on my retirement plan, but only because the social security isn't yet flowing.

[FlaChief58]

Originally Posted by Rain Man

That's my biggest financial mistake. I really should've leveraged myself 20 years ago and bought a rental property or two. I'm considering it even now as a diversification strategy, but I'm at the point where it's questionable to do that. I'll gain net wealth in the long term, but I'll be in a life phase where I'll need cash flow more than wealth.



But...but...I've done that. I've put money into a savings or retirement account every year that I've been in the workforce, and not just the minimum. I've done employee matches, eliminated debt, and paid off my mortgage early. I save money like crazy. But I look at the income that my investments would produce, and it's a fair bit below my current income.

I could retire now and live very simply for the rest of my life if I really watched my spending, but that's not really my goal. I want to maintain my current quality of life, more or less. And admittedly, my current life is pretty good with travel and my wife's shopping patterns.

The weird thing is that I'm going to enter a doughnut soon. I think by my early 60s I'll be able to completely replace my income if I count social security, but I won't get social security until 67 (on my current plan). So I'll have 5 years or so where I'll be overshooting on my retirement plan, but only because the social security isn't yet flowing.

If it weren't for the Mrs kicking ass ( I hit the jackpot there), I wouldn't be able to make the move. She's been after me for almost a year to stay home. Physically speaking, I'm ready. I'm just worried about how things will be when I don't have the daily grind, but I'm willing to give it a shot

[rtmike]

Forced retirement pretty much for me.
I still HATE it. I always had a physically demanding job and hated desk work.

I have an Operating Engineers Union pension I can start drawing on now. Only $600-$700 and I’m currently 53.
I cashed out 3 other retirements thinking I’d never live this long, (15 years paralyzed 26th of November) smh.
My SSI Disability is $1900 @ month.


The company I worked for had just given me my 2nd new crane, $2.8 million Leibherr.
All the work I wanted, lol. That 1st year on the new rig I made about $6k-$7500 @ month.


I’m still fighting the “buy what I want, when I want” urges, lol.
And that’s my RC hobby.
EDIT: Also bought tickets this year day they went on sale. I got the best “Disability” seating on the Visitors side @ Century Link this year. A couple sections from the Chiefs tunnel, lol.
Christmas Eve, Monday Night Football.
I asked neighbor if we should sell these tix and think about buying SB tix soon, lol. He can’t do a SB so Monda Night it is.

[Hydrae]

Originally Posted by rtmike

Forced retirement pretty much for me.
I still HATE it. I always had a physically demanding job and hated desk work.

I have an Operating Engineers Union pension I can start drawing on now. Only $600-$700 and I’m currently 53.
I cashed out 3 other retirements thinking I’d never live this long, (15 years paralyzed 26th of November) smh.
My SSI Disability is $1900 @ month.


The company I worked for had just given me my 2nd new crane, $2.8 million Leibherr.
All the work I wanted, lol. That 1st year on the new rig I made about $6k-$7500 @ month.


I’m still fighting the “buy what I want, when I want” urges, lol.
And that’s my RC hobby.
EDIT: Also bought tickets this year day they went on sale. I got the best “Disability” seating on the Visitors side @ Century Link this year. A couple sections from the Chiefs tunnel, lol.
Christmas Eve, Monday Night Football.
I asked neighbor if we should sell these tix and think about buying SB tix soon, lol. He can’t do a SB so Monda Night it is.

I am going to that game but it is on Sunday night, not Monday. Hate to see you show up a day late.

[displacedinMN]

The football coach resigned on Senior day. They have a few games left and a replacement has been named. Leaving-he may have not wanted a big send off. But wow. What an exit.

I hope to retire. Can't see me teaching past 60. So ten years or less. I hope.

Dad always said he would retire when he went to St. Peters. Farmed from age 17 to age 72. Farmers.

Younger people-have enough retirement to last until you are 100. With good medicine-you may live that long