Retirement and old-age

[GeoFisher]

Gorski, you said something simialr to what my dad always says about people hoarding every penny: "I have never seen a hearse towing a u-haul!"

Man, you are SO right..........

While I'm not very old, I've always done a good job of putting money away for a rainy day.....I've not taken vacations to Hawaii, been on a Cruise, spent a DAY on the beach in Mexico, etc, etc. ALL stuff I could afford to do.

I've always told my wife what we'd do that when we retire........or are close to it at least......

Well the last 3 years have HAMMERED my retirement funds, and I may NEVER retire..at least NOT how I'd like to.

At least I have my health and am still gainfully employed. Maybe in 10-20 years I will be in a position to retire again.

Later,

Geo

[kygorski]

After the wife died, went off the deep end big time. From being debt free to in hock. New truck, new boat. All on 6 yrs of easy payments. Figure I'm not going to make the last payment anyway. My children both graduated college,have good jobs,and while scratching their heads agree that they dont desperatly for anything.Got my funeral paid for, going to go up in a puff a smoke. That way theres no guilt trip about seeing dads grave.

[Tyme2fish]

I've always done a good job of putting money away for a rainy day.....I've not taken vacations to Hawaii, been on a Cruise, spent a DAY on the beach in Mexico, etc, etc. ALL stuff I could afford to do.


Geo

That's pretty much exactly how we handled trips and vacations. I've never been on a cruise,etc either, but we did take many trips to Gulf Shores and rented a nice luxury house on the beach for a week. Same thing with Tybee Island. Those trips included friends so the expense was shared.

I usually go on two fishing trips a year. One week at Lake Barkley and another week in Minnesota. That doesn't include the multiple day trips to local waters.

Our vacations mainly centered around traveling to see family in either Virginia or Arkansas. (Free lodging when you stay with family but we always paid for food and took our hosts out to dinner.)

We had a meeting with our financial adviser a few weeks ago and he wants us to start planning and going on at least two trips a year at 7K a trip. WTF!!

I might actually do that if it's a fishing trip to Alaska or an off shore trip somewhere.

Who knows. I may make an additional trip to Minnesota this year to check up on onemorecast56.

[HURRICANEBOB]

I realize working for quite sometime is inevitable with the hits most of us all took to retirement funds.

Here's my way of looking at it. I'm now working only at jobs I like doing, and only if I get the pay I want, or close to it. And I am taking some nice vacations. Not every year, but splurging a little. Why? Cause when I get older I don't think I'll feel like traveling, and I will want a smaller house or apartment with litle or no maintenance, and I don't plan on leaving much behind when the wife and I are gone. Still making sure momma is taken good care of, but not sacrificing the time now I can spend with her enjoying things together, just to try to put her in luxury when I'm gone. And she agrees, we ought do it while we can, and be prepared in the future to enjoy the memories. And we both have found cutting back just a little 11 months out of the year, really does pay for the next nicer vacation.

[parker]

My grandfather is in his 90s and a very wealthy man. If you saw him or how he lives you wouldnt think he had a dime. He never wasted a penny on anything, just hoarded money is what he done. Anyway him and my grandmother lived like they wanted but man what he could have done in his life he isnt able to today. He was ready for the next depression that never came I guess. My mom and her sisters and brother gonna live it up someday!

[kygorski]

When I got my buy out I had almost 28 yrs in, and had reached the magic number.I didn't need to go. One of the guys I worked with wanted to hit the 65 yr mark, and get max everything. He did, his hrly pay was close to 30 bucks an hour, on call,one week end a month, worked most holidays.Was retired about 6 months, moved to florida, paid cash for their home,and now sits in a wheel chair, barely able to speak.You know what they saY ABOUT LONG RANGE PLANS" MAN PROPOSES, GOD DISPOSES"

[know1]

I'm hoping for the same one day.

When I entered the workforce for real after college. I immediately started putting 15% of my income into 401ks/Roths. I've been doing it ever since without exception.

Hopefully it will grow into something nice by the time I'm ready to retire.

I don't really look at the hits the market has taken the last few years as anything for me to worry about. I don't think you really lose any money until you actually sell. I have a ways to go and I just focus on how I'm buying low.

[Tyme2fish]

I'm hoping for the same one day.

When I entered the workforce for real after college. I immediately started putting 15% of my income into 401ks/Roths. I've been doing it ever since without exception.

Hopefully it will grow into something nice by the time I'm ready to retire.

I don't really look at the hits the market has taken the last few years as anything for me to worry about. I don't think you really lose any money until you actually sell. I have a ways to go and I just focus on how I'm buying low.

You are doing great with that plan as long as your investments are diversified. Don't have 100% of your 401K invested in the company that employs you. However,I'm sure you are aware of that. Keep up the savings plan and life will be good for you. Good luck, you have a great plan.

[stratosjoe]

I retired from Met life with 15 years. I was a life agent I delivered hundreds of death claim checks across Illinois and Indiana rather than mail them. I always heard the same story, it was always the husband or the wife explaining. When we were young all we talked about was retiring and buying a camper or a motorhome and travel. See the sites but by the time we got to be 65 and retired our health had started to turn and he/ she died before we got to do any of it. I took my retirement money from met cashed it in paid the taxes and penalties. Bought a motorhome, Ma and the kids and I saw everything we cared to see in about two months of traveling blew a helluva wad. I know this sounds stupid and may turn out to be just that but,, My wife of 40 years has had breast cancer twice. I have had prostate cancer low stage 4. We hope to see other things and be around for a long time but if we don't ! We will be the ones hooting and hollaring saying Man what ahelluva ride

[HURRICANEBOB]

I think there should be a reverse retirement plan.

From ages 18-40, you ought be able to party your butt off and have a fund send you checks each month while you are young. The total bill you rack up, you'd then work off in ages 40-66 to pay it back. At 67 you'd retire, and rack up a bill for your kids to pay back for you once you are gone.

Next time I'm born, I'd like it if you had this in place and the kinks worked out.

SO GET ON IT AND REPORT TO ME WHEN IT'S DONE!