jwc Posted May 12, 2016 Share Posted May 12, 2016 I certainly wish I could retire early Quote Link to comment Share on other sites More sharing options...
T2K Posted May 12, 2016 Share Posted May 12, 2016 They say a picture is worth a thousand words. So here's the picture. Keith Ahh, the "Redneck Riviera" been a long time since I have been down to the Gulf Shores region, beautiful beaches & great golf courses. Well that's a close guess. Within a few hundred miles anyway. It's funny how people here believe the rednecks are the visitors from the north. Keith Quote Link to comment Share on other sites More sharing options...
jwc Posted May 12, 2016 Share Posted May 12, 2016 "Ahh, the "Redneck Riviera" been a long time since I have been down to the Gulf Shores region, beautiful beaches & great golf courses." I go there at least 2x/year. Quote Link to comment Share on other sites More sharing options...
T2K Posted May 12, 2016 Share Posted May 12, 2016 I think a lot of people pi$$ away a lot of money. On things that they really don't need. Not things that they miss when they give them up, things that they later realize they never needed in the first place which they wasted money on. Those things that unknowingly complicate life. There's no race to see who can accumulate the most junk or who can afford to tolerate the greatest depreciation. For me retirement is less costly than when I worked. Now I do what I want to do when I want to do it and I do it as many times as I want. Right now I'm drinking some old Mexican beer that tastes like horse pi$$. In a few minutes I'm going to take the old lady shopping and then get some ice cream. I'm going to top that off later with seafood washed down with cool beverages on the beach. We all have choices. We can choose to be happy or miserable. Keih 2 Quote Link to comment Share on other sites More sharing options...
jwc Posted May 12, 2016 Share Posted May 12, 2016 I think a lot of people pi$$ away a lot of money. On things that they really don't need. Not things that they miss when they give them up, things that they later realize they never needed in the first place which they wasted money on. Those things that unknowingly complicate life. There's no race to see who can accumulate the most junk or who can afford to tolerate the greatest depreciation. For me retirement is less costly than when I worked. Now I do what I want to do when I want to do it and I do it as many times as I want. Right now I'm drinking some old Mexican beer that tastes like horse pi$$. In a few minutes I'm going to take the old lady shopping and then get some ice cream. I'm going to top that off later with seafood washed down with cool beverages on the beach. We all have choices. We can choose to be happy or miserable. Keih Those statements are keepers. I wish I could truly grab em' Quote Link to comment Share on other sites More sharing options...
jwc Posted May 12, 2016 Share Posted May 12, 2016 We hit Destin when we can. Sadly, I'm selling a small house I had down there with my mother today. She is there on my behalf signing papers. In the past I was a regular at Fort Morgan, Al. Quote Link to comment Share on other sites More sharing options...
babadono Posted May 12, 2016 Author Share Posted May 12, 2016 I think a lot of people pi$$ away a lot of money. On things that they really don't need. Not things that they miss when they give them up, things that they later realize they never needed in the first place which they wasted money on Ok but you're not talkin' 'bout Klipsch speakers are ya? Quote Link to comment Share on other sites More sharing options...
Mallette Posted May 12, 2016 Share Posted May 12, 2016 (edited) I certainly wish I could retire early Many have fears and work withdrawal issues. Wish I'd retired sooner now...it isn't as hard as one might think to get by. Just depends on your debt and dependents issues. As it turned out, retiring with a 14 year old son gets him benefits until he is 18. That will be almost enough to pay for 4 years of college at my old alma mater. It's consistently listed as one of the best bargains in the US. Certainly was when I went there! Dave Edited May 12, 2016 by Mallette Quote Link to comment Share on other sites More sharing options...
babadono Posted May 12, 2016 Author Share Posted May 12, 2016 There is only one thing to worry about in retirement---and it's medical costs. They will bust you and bury you. JJK Yes I am concerned about this inevitability. How does one prepare for this? Can one prepare? Quote Link to comment Share on other sites More sharing options...
babadono Posted May 12, 2016 Author Share Posted May 12, 2016 The good thing for us is the house and cars are both paid off. Yea I get that for sure the mortgage needs to be paid off before I retire. Quote Link to comment Share on other sites More sharing options...
babadono Posted May 12, 2016 Author Share Posted May 12, 2016 Well, I am now six months in and working harder than ever...but at what I WANT to do rather than what I have to do and no longer stuck in big nasty cities to do it. Social Security blew my mind. Fast, courteous service and when the lady kept saying "But wait, there's MORE" my jaw kept dropping. Monthly extra for my son until he's 18 that will be enough to pay for 4 years of college, and the same for the PAW until my son is 16. Medicare is MUCH better than reported and those I've dealt with a LOT more responsive and courteous than insurance people. And expenses are way down. Life is GOOD in retirement! Dave Cool. Quote Link to comment Share on other sites More sharing options...
CECAA850 Posted May 12, 2016 Share Posted May 12, 2016 Keih The Mexican beer must have kicked in. Quote Link to comment Share on other sites More sharing options...
oldtimer Posted May 12, 2016 Share Posted May 12, 2016 Wait til it kicks out.... 2 Quote Link to comment Share on other sites More sharing options...
JJkizak Posted May 12, 2016 Share Posted May 12, 2016 There is only one thing to worry about in retirement---and it's medical costs. They will bust you and bury you. JJK Yes I am concerned about this inevitability. How does one prepare for this? Can one prepare? Well you want to have about 200K cash minimum. When Mom died it took 2.5 months to spend 180K. Luckily Medicare and Ohio PERS paid for everything. If you are lucky you will die instantly without having suffered brain damage. Any kind of dementia and it's 7K every month for 24 hour care in a nursing home. Prostate operation is about 24k, Heart bypass almost 100K. Blood thinner shot is $1200.00. Hospital stay is 5K per day. Eye shots $1200.00 each and one per month. Cocklier implant 110k plus 10K for adjustments. Catscan usually about 3.5K depending on what they are looking for. Once they get the tubes hooked up to you it's a done deal. JJK Quote Link to comment Share on other sites More sharing options...
billybobg Posted May 12, 2016 Share Posted May 12, 2016 My stated goal in retirement is to not have to eat dog food when I'm 80 I'm Medicare age, but plan to work until 70 before collecting SS. My biggest expense saving will be wear and tear on my commuter car and gas which is not trivial as my daily mileage is 150 miles. I'll have good health insurance on top of the Medicare, so I think I've got that covered. I have equity in my home and some savings, so I think I'll be able to achieve my stated goal. Life is a crap shoot, so even though I have my health now and a plan in place, it could all catch up to me and waiting to retire could look like a mistake. Stay tuned Quote Link to comment Share on other sites More sharing options...
Ceptorman Posted May 12, 2016 Share Posted May 12, 2016 I hear reverse mortgages are becoming more popular. Does anyone understand how these work? I'm just curious. Quote Link to comment Share on other sites More sharing options...
oldtimer Posted May 12, 2016 Share Posted May 12, 2016 Depending on the equity you can get a lump sum, stay in your home while paying taxes and keeping up maintenance, and the bank gets the house when you or the surviving spouse dies. You have to be 62 or older. The lump sum is of course discounted present value. In some cases you may get no cash out, but the rest applies. I'm still on the fence whether it's a good thing or not. As long as you don't care about anyone inheriting the place, and you have substantial payments with a lot of years left, and your retirement income would make those payments a burden, it sounds pretty good. The one thing I am not clear on is what happens if you want to move (sell). Quote Link to comment Share on other sites More sharing options...
jwc Posted May 13, 2016 Share Posted May 13, 2016 I certainly wish I could retire early Many have fears and work withdrawal issues. Wish I'd retired sooner now...it isn't as hard as one might think to get by. Just depends on your debt and dependents issues. As it turned out, retiring with a 14 year old son gets him benefits until he is 18. That will be almost enough to pay for 4 years of college at my old alma mater. It's consistently listed as one of the best bargains in the US. Certainly was when I went there! Dave You have a link that explains how those benefits work Quote Link to comment Share on other sites More sharing options...
oldtimer Posted May 13, 2016 Share Posted May 13, 2016 It depends upon the company you worked for. Dave is lucky, most corporations have destroyed or at best frozen pensions. Quote Link to comment Share on other sites More sharing options...
Mallette Posted May 13, 2016 Share Posted May 13, 2016 You have a link that explains how those benefits work Nope. All came from the SS office interview. I was clueless. When she finished with what we were due all I could say was "Is this a great country or WHAT?" Dave Quote Link to comment Share on other sites More sharing options...
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