Enjoy yourself Tyme, you have earned it. My dad was fortunate enough to get full retirement at the age of 50 and he is living life to the fullest. Winters in Florida and summers at Rough River.
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Senior Member
Enjoy yourself Tyme, you have earned it. My dad was fortunate enough to get full retirement at the age of 50 and he is living life to the fullest. Winters in Florida and summers at Rough River.
Senior Member
Is it bad that at 24 Im already looking forward to retirement? I wonder if I will ever get to retire? Who thinks I will ever see a return from Social Security? Im not holding my breath...
Senior Member
My feeling is that you will receive it. Getting rid of it would be the kiss of death for any politician or party.Originally Posted by JD7.62
Yeah you got a long way to go and anything can happen but if I had my time back I would put money away monthly even if it's a small amount and let it build. Thats one thing I wish I would have started earlier on...
Senior Member
To be honest I think SS is nothing more then carefully disguised socialisim and in principal I do not agree with it. However, if Im putting you bet I will raise forty eleven hells if I dont get any return! Though I dont know everything about but I thought that it take 3 payers into SS to support one recipient and with the aging population I dont see how it wont go banrupt?!
I have a 401k that pretty much has nothing in it but I am not going to make the same mistake my dad did. He has been with the same company for 35 years and only in the last 15 started contributing to his 401k.
Senior Member
If you are already looking forward to retirement you have one of three issues going on. You are not satisfied with your job, you are in a low paying job, or you already have job burnout, or all three.
You are in that age group that has to work to age 70 before you receive Social Security; that's another 46 years. If you manage to get your Social Security benefits it will not be enough to live on, it will just be a small supplement as it was originally intended. My advice is to get into a good 401k or other plan and put everything you can into it, save some of the rest, and you will retire a very wealthy man.
My husband puts 12% of his paycheck into his 401k and the company matches the first 8%. We are blessed not to owe any bills other than the utilities and insurance so we save half of each net paycheck (after the 401k is deducted) most of the time. The exceptions are when the house, boat, and car insurance are due in January, and the life insurance annuity is due in June.
Since you have to get up and go to work, you may as well pay yourself FIRST and set aside a certain percentage into some type of savings plan. It will surprise you how quickly it will grow and you will start to find ways to save more. With proper management you may very well be able to retire long before you are eligible for Social Security.
Senior Member
Actually its neither! I just want to be able to fish more and spend more time with my friends and family. Its sad that I literally spend more time with people at work then I do my wife and daughter.
Work till 70?! Shoot I'd be happy to live to 70!
Senior Member
Gotta agree with Jason here. Heck my goal in life is to retire and spend time doing what I want to do not what I need to do. Don't want to wish my life away and I don't think Jason does either but I totally understand where he's coming from, ME TOO.
Senior Member
It is sad...but that's how it is for the working man. I'm with ya on that 70 years of age comment...I think my retirement year is age 67 or 68 (I'm 48)...heck I just hope I make it that long, and if I do I hope I'm in reasonably good health. In the mean time I'll do what I can to ensure retirement isn't just a pipe dream...whether I get there or not is anyone's guess at this point.
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