Don’t die with your yacht in the driveway

[RoccoV]

I totally agree with Wibornz, retire as soon as possible. My wife and I have started practicing for retirement. After the last year+ my family and all of us have been through. Ours was crazy and won't go into it to much but surgeries, death and a family member fighting for her life and winning, so far, against cancer. We decided to buy a small place at the beach and go as much as possible. Bought a golf cart and all. Have spent more time together then I think we have in the past 5 years. Walks, rides and days in the sun together have meant more to my son wife and I then we thought possible. Do what makes you happy NOW! In this day and age you never know what tomorrow will bring.

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[wibornz]

I heard this early in my life and made it my life's motto lol

"you never see a hearse pulling a U-Haul"

can't take your money and shit with you, spend it while you got it and enjoy life to the fullest!!!

none of us are promised tomorrow

I tried for years to get my mom to understand this. Told her many times to spend her money as I am good. She always wanted to go to Australia but never pulled the trigger. She drove an old chevy mini van and should have spent some of her money to have the better things in life. She was an excellent saver, but never switched modes over while in retirement to stop saving and start spending. She would get mandatory disbursements from her investments, cash the check and buy savings bonds. She beat stage 4 cancer and still didn't treat herself. She was more concerned in ensuring that my sister and I would be okay.

My motto is prepare for tomorrow, but enjoy today.

 

[four low]

Money is a tool, as good as the use you put it to.
" Value" and " Price" are two different things. Responsibility to Family weighs in on any retirement decisions, but really giving your self to your family is more valuable than the toys you can buy them, without you teaching them what this Journey means.
Retire as soon as possible, nothing is promised !

 

[CanAm_Melissa]

New around here, but I stumbled on this thread and had to comment because this is precisely why I bought my first Jeep in June. Long story short, my healthy 45-year-old husband ended up in the hospital with a Pulmonary Embolism and had a cardiac arrest incident to where they had to perform CPR to get his heart going again. After monitoring and some meds, he was out of the hospital in under a week and is continuing to do great, thankfully! But it's one of those "hitting close to home" circumstances that you say, "we have to enjoy life while we have it to live!" And we promptly went out and each of us bought our own dream car. Mine is my JLU Sahara 4xe with SOT top, and I am loving every minute of driving her! I told people "it's not a mid-life crisis, it's a LIVE-LIFE crisis"!

 

[BDinTX]

New around here, but I stumbled on this thread and had to comment because this is precisely why I bought my first Jeep in June. Long story short, my healthy 45-year-old husband ended up in the hospital with a Pulmonary Embolism and had a cardiac arrest incident to where they had to perform CPR to get his heart going again. After monitoring and some meds, he was out of the hospital in under a week and is continuing to do great, thankfully! But it's one of those "hitting close to home" circumstances that you say, "we have to enjoy life while we have it to live!" And we promptly went out and each of us bought our own dream car. Mine is my JLU Sahara 4xe with SOT top, and I am loving every minute of driving her! I told people "it's not a mid-life crisis, it's a LIVE-LIFE crisis"!

Thank you for sharing! Glad to hear he’s doing better now. My wife had some symptoms a couple years ago that could have been a degenerative auto immune disease. Having end of life preparation conversations is absolutely no fun. Nice vehicle choice! What did he go with?

 

[rkj__]

My wife and I are around 30 years old. Retirement feels like forever from now. We question sometimes whether or not it is worth saving for at all. (We do continue to save.). With all the disease, unrest, and brewing climate crisis, what will life be like 30 years from now? Will we even be alive? We really can’t be sure. So, we do try to have some fun now, but available vacation time really limits us. We often talk about taking off and traveling for several months. However, that would likely mean having to quit our jobs, which is kind of a big deal. My wife could get rehired somewhere quickly, but it would be a bigger challenge for me.

 

[DadJokes]

man, that sucks...I'm guessing he wasn't vaccinated?

every day for like the last month there is another story on the news or internet about someone who died from covid and regret not getting vaccinated. It is like their last words.... I rarely get a flu shot, but I got the vaccine as soon as I had the chance....life is short enough, why increase your chances of death?

I just turned 50 and have two kids with one going away to college this year and breaks my heart to see people dying needlessly at 54 with so much life ahead of them

Apparently being vaccinated doesn’t keep COVID away from the news I’m getting. Time for plan B…C…Hide in a hole?

 

[shekmark]

Just know that I typed about six paragraphs about why you should retire as soon as possible. Then I deleted them. Why because for years, I told people that I would retire as soon as I could. I retired one hour and 14 minutes into my first day of being eligible. I had anywhere for seventy to eighty four employees that worked for me at any given time. I spent many hours reading about the retirement process from my employer and crunch numbers. I learned all the tricks and tips and many would even say that I was more knowledgeable than most of the people that worked for the Office of Retirement Services. Many employees would have me run their numbers. I would show them what they would earn in retirement how social security would pay out and how it would impact their retirement. Gave out investment strategies for their 401k and 457 plans and so on. I would sit down with some of these idiot and show them that they are literally working for about a dollar an hour once they got past their retirement date and they would just keep working because they could not wrap their mind around the fact that they would be okay with out working. I had one guy that in 2015, I showed him that he was working for about $1.25 an hour by coming to work. He did not believe me in 2018 he was eligible for SS also and ran is numbers again and showed him that he was loosing about $1000 a month by coming to work. He looked at me and said, "What should I do?" I told him I have no idea why you don't throw your keys, radio, and handcuffs on my desk and walk out right now." He worked five more months. As an employee, I loved him and loved the job he did for me but as his boss, I would love for him to keep working until I left, but that would be for my own selfish reasons.

So lets look at the big picture for retirement for those that have a pension as many in age group a lesions was still a thing. After you pass your eligible retirement date, you have to subtract what you bring home in retirement dollars vs what you bring home in working dollars. Then figure out the difference between the two and divide it by the hours you would normally work each month, subtract any work expenses that you would no longer incur because those expenses would disappear if you retire. Parking fees, special clothing, work supplies, commuting cost to work, anything that you are spending money on that is directly related to working....

My actual cash in hand was just less than $210. I worked 160 hours a month. 210/160 =$1.31 an hour was what I would have been earning if I continued to work. How much time did it free up though. It was way more than 160 hours a month. I also spent about an hour each working day getting ready to go to work, and an hour each way for my commute to work. So in time I freed up 60 additional hours a month for a total of 210 hours. If I figured in the additional time that was spent to work that 160 hours, I was making even less. As we all know time is money..... $210 / 210 hours = 1 dollar an hours. It was a no brainer for me. I could quit my good paying job and work part time and McDonalds and have way more money at the end of the month. Let that sink in.

Chances are if you are working past your retirement date, because you think you need more money, you will just never have enough....

While we are on the subject. Lets talk about Social Security and when you should draw it. In my opinion, you draw it as soon as you can. If you think hey, I will just wait until I am 67 to get a bigger check, you in my opinion are just stupid. Let me explain before you start typing a bunch of hate on your Key board to me.

So if you plan to wait until you are 67 to draw Social Security, you obviously do not need to draw Social Security. Otherwise you would already be drawing it. You are under the belief that you will draw a bigger check in Social Security and therefore it is worth waiting to draw the check.

Now lets get big picture here with Social Security and understand there is a better strategy. Draw Social Security at 62. Take your social security check and invest that check, don't spend it. Then when you turn 67 start pulling money from that investment and supplement the social security check that you are already getting. So lets list off the benefits of this plan.

Say you draw 1800 a month just for a number. $1800x60 months. =$108,000 But hey you earn a conservative 7% interest that is compounded annually. you would end up with 126,906. Then at the age of 67 you started pulling 900 a month out of that investment and started spending your Social Security check. It would take you 15 years to spend the money from the investment account. Meaning you would have to live to at lest 82 to break even before you actually made any money by waiting to draw your check at 67. Yet I am sure that you will be out doing cool shit at 84 that you could have been doing at 62....... That dam time thing again. Sure you could make some poor investment and maybe your money will not grow at 7%, but you could also die at 66 years old and 11 months. Then how much money would you have to pass on to your spouse or your kids. A big Fat ZERO because you would not have drawn that $108,000.

Let say you are a savvy investor... and you earned 10% so you ended up with $135,000 Well now you have to live to be over a hundred years old before you benefited from waiting to draw your check if you continued to earn 10% on your investment................

Lets say you don't invest the money at all from your Social Security check, but you do stuff it in your mattress and save it a 0% interest. You will have to live at least to the age of 77 to break even if by waiting to draw your check at 67. This is assuming that your check goes up by $900 a month at 67.

Time....... average age of death for an American male is 77. Nice, break even when on average we die.


fuck I just typed a lot again....... Let me jump off this soap box. I got shit to do to go wheeling and camping for another 5 day weekend.....

I like your post, but have a question, or thought. If you are still working, you have to pay tax ( I read 1 dollar for every 2 earned) so the SS check could be reduced by half potentially. . Are you considering this or strickley talking to those that are not working anymore. It is all quite confusing.

 

[rkj__]

Apparently being vaccinated doesn’t keep COVID away from the news I’m getting.

You're less likely to die if vaccinated

 

[DadJokes]

You're less likely to die if vaccinated

Ah ok. Hopefully that doesn’t change too.

 

[SoCal]

Apparently being vaccinated doesn’t keep COVID away from the news I’m getting. Time for plan B…C…Hide in a hole?

might not keep covid away , but......this chart says it all. Hospitalization and death rates are the most important and it is pretty plain to see....

https://bloximages.newyork1.vip.townnews.com/kpcnews.com/content/tncms/assets/v3/editorial/b/26/b263f094-fd5c-5c57-9f6a-946fab8ab4c1/6116badf90f0a.image.png?resize=777,481

 

[DadJokes]

might not keep covid away , but......this chart says it all. Hospitalization and death rates are the most important and it is pretty plain to see....

https://bloximages.newyork1.vip.townnews.com/kpcnews.com/content/tncms/assets/v3/editorial/b/26/b263f094-fd5c-5c57-9f6a-946fab8ab4c1/6116badf90f0a.image.png?resize=777,481

Is the “before” before hospitals settled into treatment regimens vastly reducing the death rate?

Isn’t it early to declare something as fact when the facts are ever evolving? A couple of months ago, being vaccinated was absolutely, unequivocally marketed as “the cure”. I’m betting there will be more revelations as things unfold.

I’m not waiting around to do things anymore. As age and wisdom sets in, it makes little sense to wait. Do something, make memories, love each day to the fullest you can.

 

[CpT Papa]

No room in my driveway, 2 Jeeps parked. My yacht is in a slip at the harbor. Just hoping I can afford it in retirement. I retired 10 years ago but kept on working. My plan is Dec 22 to have the 392 paid off and fully retire.

 

[SoCal]

Is the “before” before hospitals settled into treatment regimens vastly reducing the death rate?

Isn’t it early to declare something as fact when the facts are ever evolving? A couple of months ago, being vaccinated was absolutely, unequivocally marketed as “the cure”. I’m betting there will be more revelations as things unfold.

I’m not waiting around to do things anymore. As age and wisdom sets in, it makes little sense to wait. Do something, make memories, love each day to the fullest you can.

doesn't really matter about before or after treatments....those stats don't change and those are from 8/15/21

98.6% hospitalization are unvaccinated

98.7% of all deaths are unvaccinated

I think its pretty safe to declare those facts. as of 8/15/21 those are the real numbers this is not a conspiracy


yet some people still refuse to believe the data that is in plain view and in black in white on just about every legit source's website....boggles my mind

 

[runningshoes]

I like your post, but have a question, or thought. If you are still working, you have to pay tax ( I read 1 dollar for every 2 earned) so the SS check could be reduced by half potentially. . Are you considering this or strickley talking to those that are not working anymore. It is all quite confusing.

You are right - if you start collecting SS before your full retirement age, you lose $1 for every $2 in income above the minimum (around $19k). Once you hit full retirement (for most people close that is 67 now), that restriction goes away.

One more point - while life expectancy is 77-78 for a newborn boy today, if you're a 50 or 55 year old guy, your expectancy is 80-81. In short, the call on when to take SS is really highly dependent on your health at age 67. For almost all healthy guys, waiting for full retirement makes more sense over the long haul.

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