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Are You Retired?

11K views 66 replies 35 participants last post by  sideKahr 
#1 ·
Are you retired? If so do you feel you prepped correctly for it? Is your Social Security as much as you anticipated? Are you able to be as active as you imagined you might be? How has your investing, spending changed? Be as forthcoming as you feel comfortable. Mostly no one knows who we are. Are you interested in talking about investments other than PMs?
 
#6 ·
I am somewhat retired. I'm at the point where I am doing what I want to do, not what I HAVE to do.. I am only 40 so SS isn't going to be around by the time I am old enough to draw it though..I had quite a bit invested and lost a bunch in 08 so not nearly where I want to be but am living comfortably and am very happy so that is what matters I guess.
 
#8 ·
Yes and NO.
I retired but was not ready to . So started another career I will retire from soon. In my second life I do not do SS. We are opted out of it.
And much better plan that is an account with real money in it that is ours.
We have met our goals and moved the goal post a few times and met those. The next 5 years sooner maybe not latter will see neither of us working anymore.
What is invested is spread out not all in one basket never has been.
 
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#9 ·
It seems we are all about alike in that we each have a slightly different twist to our retirement.

Both of us were forcibly retired a little early. My SS is more than I expected and my wife will not draw until November. We are drawing off IRA dividends and used ROTH to pay off the house and pay a third down on a Beach house. We have everything budgeted in one account with drafts. This we quickly became obviously necessary because bills were never where we were. Next will be to have dividends automatically deposited. SS is food, gas and spending money. We stay a month at cease house except for summer when we stay there full time.

I have several variations on an idea to start an investment business in real estate at the beach a LLP of sorts. Most likely will be all think and zero do.

Physically, I cannot stand or walk long. I hope to swim if it will ever warm up. I was a right good swimmer back in the day. I hope to get past the breakers and swim parallel to the beach. The wife can drop me off and pick me up in the golf cart. I have never played golf but own converted a golf cart.

Anyone know anything about kayaks? I plan to try one on the inland waterway. Seems like a good way to see wildlife, islands and marshland. Some are mounting outriggers and sails on them. I do not want anything with a motor on it but a daysailer might be in the works if the kayak does not work out. Storage and dock fees are too high. So nothing big is going to happen in any event.

Anyone ever owned a muni bond? The electric cooperative will be selling them starting April first. Up to $50,000 in $2,000 increments. I have never been a big fan of bonds. But,paying no taxes on the earnings just might be a good way to get ready for mandatory distributions. 701/2 is just 5 years away.
 
#13 ·
Sounds like you are doing things right.. As for kayaks. You will be VERY happy if you get one. Look into Wilderness System and I prefer a 12 footer. It's not too big and not too small. You will want a"SOT "sit on top" model IMO. They are GREAT for fishing. Also good for just sightseeing and even exercise. If you are into fishing a kayak will take you about anywhere you want to go. I have taken mine into mangroves on a very low tide that even the best flats boat can't get to. There are all kinds of brands but the best one that I found is Wilderness System. Check out the Tarpon 120, Those are the ones we have had for several years now and are very happy. Just do your research and pick what's best for YOU.. Hope this helps!
 
#17 ·
Yes I am retired, when I did that I was 47.

That was in late 2007 as I knew there was a big collapse coming and I jumped out of the ship.

Then we had the 700 billion bail out, the zero percent interest rates, the federal government legalized theft and corruption, then the government decided to fool the sheeple and not pass a budget from that point forward.

NSA Spying

Indefinite detention

Drone strikes on American citizens

oops I got off the point....

I cashed out of all of my investments, and paid off all my remaining properties. I set up another self employed business and have done really really well, often employing most of my kids.

I have slowing been backing off the online business thinking the end will come, the end will come, the end is here, but the force that was the American economy wasn't going to be broken in only a few years.

I still sell a decent amount of goods on Amazon and eBay, and spring is coming so I am putting in EXTRA garden space and I have 12 more laying hens hatched out as well as a few more ducks.

I just heard that the price of produce has gone up 17% since January,

This is it folks, plant, store, backstock, it is coming this year.
 
#21 ·
My parents said SS would not be there for them but it was. Now they are dead and gone and it was there for them.
I never gave it much thought as to where I stand. You caused me to check. It seems I'm drawing the max. SS is not a joke for me. It is pure pleasure since that is what I use it for.
 
#19 ·
Retired at 48, no retirement nothing. Pick up a odd job now and then when needed. Worked hard and set myself up to live cheap. Small 900 square foot energy efficient house on 40 wooded acres. No more cell phones, no eating out, no payments of any kind. My newest car is 21 years old. No kids to support, burn wood for heat. No fancy vacations etc. You will be really surprised how cheap you can live once you set your mind to it. Get over keeping up with the Jones and focus on living. I love sitting in my "cabin" and watching the neighborhood go to work in their fancy new cars/trucks every morning, what a joke. Best part is hooking up the boat to go fishing while they drive by and wave going to work. Dumba@@es.
 
#20 ·
Sniff

I love you man!

completely serious!

I have done well for myself but I drive a 2003 Dodge 250 diesel pickup with about 200k miles on it. I can easily afford better but it fits all my purposes so why would I want to upgrade?
 
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#25 ·
When I closed the business and hawked everything I could I managed to create and lease enough farm land out to have what was needed to retire. I did a solar job for a year to learn about it and since I have a few degrees I was able to hire out as an investigator on a few jobs for attorneys. My dad made me save big starting at 16 so I have a decent retirement waiting at 59.5 but don't want to pay the extra fed taxes to take it early. Last May I was asked to take a 25 hr week job as the lead at a police academy and it paid too good to pass up....so I wet from retired at 45 to working at 49. I like the PT schedule and the money that comes with it since I managed to get debt free as I thought it was time to retire.

One thing I do like to advise people to do is research self directed IRAs. Mine owns farm land, a home that is rented, some PMs that are tangible in hand and some stocks. I love what I can do with it, but I hate the legal fees.
 
#28 ·
Should start drawing my pension in 3 years at 51 years old. I'll be set, but still looking forward to a fun little job at a gun shop or sporting goods place. I agree that I need to work as long as I absolutely can.
 
#29 ·
We’re both retired. My wife was a corporate budget analyst and set us up 25 years ago to where we lived (and still do) well below our means. We paid off the house over ten years ago and started paying cash for all major purchased… paying off our credit cards every month. Her approach was to find a level at which we were comfortable and as our incomes increased over the years, our life style and associated expenses remained the same… all else was surplus put to good use.

We could have had Beamers, but drove Hondas. We could have built a 4000sqft house but bought an older ranch and fixed it up. Now, between pensions, investment income and SS, we have as much income as we did when we both worked. We still live simply, but well.

We also got into whole food diets, gardening and prepping 20 years ago. Each of us holds positions in our local church and do volunteer work in the community. I hunt, camp and hike. She weaves, knits and chases grand kids. So far we’ve stayed active in the outdoors and avoided or minimized most major health issues associated with age. At this point, we don’t give a crap about what we drive, who we impress or who we piss off.

Live simply, stay out of debt, invest in what makes you happy and secure and let the rest of them go chase their tails and feed their egos.
 
#30 ·
In my second career being able to Not participate in SS was a great deal. SS fund is raided and the return anymore on what is payed in is chicken feed.
The big difference in the system I am in is there is a real account with my name on it real money. That is not paying others as you go like SS.
I avoided IRA accounts for my own reasons. If things work out even close to as the should we will not have to touch the investments account at all.
Life is full of left and right turns so in the end you plan and go with the hand that is dealt .
For us we wanted the least amount of government control .
 
#31 ·
One of the most important things is to get debt free. No car or credit card payments if you can manage it. It amazes me at how much some of my friends have accumulated in credit card debt! Live as simply as you can and still be comfortable and happy.
 
#37 ·
I have essentially a small car in credit card debt. (18K). I have three years until early retirement (51) and I have no intention of carrying this over. I am treating it like a three year car note so I can be debt free barring our little mortgage. Since I will still be working part time and drawing a pension I will actually have more money so it should work out.
 
#40 ·
I am retired today! I was tired yesterday which was spent working on the out-buildings that I designed and have been building with help from them and others and I am tired again today having done more on the out buildings. So that makes me RE-Tired.

I am disabled - not retired. I am working on getting off the disability but I doubt it will make much difference as my current age is 63 1/2 (and counting). I have already beat the odds - I was told that I would be living on medications for the rest of my life. They're all gone now!
 
#41 ·
What's retirement?

We own a farm.

No matter what you are doing, working or retired, the key thing to do is stay active, and always having a project that keeps your interest. The more physically demanding the activity or project, the better for you.

I keep reading these articles about how much you should have saved for retirement. What a freaking joke n todays economy for the average person. For most folks, retiring is like having kids. If you wait until you are financially able, it is never going to happen.
 
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