How do you guys retire?

[TheBirdie72]

How do you guys retire?

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[wibornz]

Universities in general have lost touch with their purpose. The purpose should be to educate. In a more focus of providing worthwhile education that has value. I think that if we took a close look at degrees that Universities offer, tt isat many of them have little to no value. When we see what Universities are doing to the youth is board line criminal. They sell a worthless produce that financially handicaps our kids for the rest of their life.

University of Michigan. Probably the best University/colloege in Michigan offers the following degrees that I would think have very little income potential and a very small amount of employment possibilities or opportunities..

These are my option and listed in alphabetical order.

Afroamerican and African Studies
American Culture
Classical Civilization
Classical Languages and Literatures
Comparative Culture and Identity
Comparative Literature
Creative Writing and Literature
Dance
Drama
English
Ethnic Studies
French and Francophone Studies
Gender and Health
General Studies
Greek (Ancient) Language and Literature
Greek (Modern) Language and Culture
History of Art
Italian
Jazz & Contemporary Improvisation
Latin American and Caribbean Studies
Latin Language and Literature
Latina/Latino Studies
Learning, Equity, and Problem Solving for the Public Good (LEAPS)
Organ
Piano
Polish
Russian
Spanish
Strings
Women’s and Gender Studies

I probably even missed some. I think that the majority of the above majors if not taught, we would never suffer as a society at any level. I am not saying that they are not useful in some applications, just that a degree in them by and large have none to very little income generating possibilities. In real world application, the there is just not much income earning possibility's for the masses. I kind of equate it to sports. Sure you can make huge money in sports, but it is less than 1% of the people who participate in a sport that is able to make a living doing so.

As a person that has been involved in hiring thousands people over the the years and mentoring many. I helped 146 employees promote during my career through mentoring. When I see someone with a worthless degree, I don't say to myself well at least they were committed and followed through with getting a degree, I see someone that makes poor decisions and lacks vision. I think a worthless degree is worse that no degree. At least if you don't have a degree, you are not saddled with 100K in student loan debt.... or if you don't have student loan debt, you waisted a bunch of money on a worthless education.

I am sure that we could look at any college and see that they all offer low quality degrees. It is just a money grab from these schools. kind of like the old you have to take an art class or photography class or what ever class that in no way relates to your field of study. This just ensures that you are spending money at the school for an additional semester. Money for parking, lodging, food, entertainment and everything that is required to attend the school for an additional semester. It is criminal in my opinion because they literally prey on our youth.

If you are an employer and you require just a degree or any degree for a position. That position does not require a degree. You are just making possible employees be saddled with debt and possibly paying them less than minimum wage after you subtract the student loan payment from the wage you are paying them. Many student loan payment are the cost of a decent home mortgage payment.

 

[TheBirdie72]

Universities in general have lost touch with their purpose. The purpose should be to educate. In a more focus of providing worthwhile education that has value. I think that if we took a close look at degrees that Universities offer, tt isat many of them have little to no value. When we see what Universities are doing to the youth is board line criminal. They sell a worthless produce that financially handicaps our kids for the rest of their life.

University of Michigan. Probably the best University/colloege in Michigan offers the following degrees that I would think have very little income potential and a very small amount of employment possibilities or opportunities..

These are my option and listed in alphabetical order.

Afroamerican and African Studies
American Culture
Classical Civilization
Classical Languages and Literatures
Comparative Culture and Identity
Comparative Literature
Creative Writing and Literature
Dance
Drama
English
Ethnic Studies
French and Francophone Studies
Gender and Health
General Studies
Greek (Ancient) Language and Literature
Greek (Modern) Language and Culture
History of Art
Italian
Jazz & Contemporary Improvisation
Latin American and Caribbean Studies
Latin Language and Literature
Latina/Latino Studies
Learning, Equity, and Problem Solving for the Public Good (LEAPS)
Organ
Piano
Polish
Russian
Spanish
Strings
Women’s and Gender Studies

I probably even missed some. I think that the majority of the above majors if not taught, we would never suffer as a society at any level. I am not saying that they are not useful in some applications, just that a degree in them by and large have none to very little income generating possibilities. In real world application, the there is just not much income earning possibility's for the masses. I kind of equate it to sports. Sure you can make huge money in sports, but it is less than 1% of the people who participate in a sport that is able to make a living doing so.

As a person that has been involved in hiring thousands people over the the years and mentoring many. I helped 146 employees promote during my career through mentoring. When I see someone with a worthless degree, I don't say to myself well at least they were committed and followed through with getting a degree, I see someone that makes poor decisions and lacks vision. I think a worthless degree is worse that no degree. At least if you don't have a degree, you are not saddled with 100K in student loan debt.... or if you don't have student loan debt, you waisted a bunch of money on a worthless education.

I am sure that we could look at any college and see that they all offer low quality degrees. It is just a money grab from these schools. kind of like the old you have to take an art class or photography class or what ever class that in no way relates to your field of study. This just ensures that you are spending money at the school for an additional semester. Money for parking, lodging, food, entertainment and everything that is required to attend the school for an additional semester. It is criminal in my opinion because they literally prey on our youth.

If you are an employer and you require just a degree or any degree for a position. That position does not require a degree. You are just making possible employees be saddled with debt and possibly paying them less than minimum wage after you subtract the student loan payment from the wage you are paying them. Many student loan payment are the cost of a decent home mortgage payment.

Interesting opinion. I respect it.

But I would like to point to another culprit, the game of Life. And no, I don’t mean that metaphorically. I literally mean the Hasbro board game! When you start in that game, one of the first choices you have to make is whether you to go to college or not. And that decision affects just about everything else in the game - what types of jobs you can get, how much money you can make, what paths you can choose… And let me tell you… it is a hard game to win if you don’t take the college path! It is basically a choice of becoming a successful lawyer or a career busboy! ? What’s my point? Well…Yes, I do lose at that game a lot and don’t like to play it anymore! But also, that I agree with wibornz and that a college degree isn’t always the best option for all the people all the time. Sure it “checks a box” and can open some doors, but it isn’t the only path to happiness.

 

[wibornz]

Interesting opinion. I respect it.

But I would like to point to another culprit, the game of Life. And no, I don’t mean that metaphorically. I literally mean the Hasbro board game! When you start in that game, one of the first choices you have to make is whether you to go to college or not. And that decision affects just about everything else in the game - what types of jobs you can get, how much money you can make, what paths you can choose… And let me tell you… it is a hard game to win if you don’t take the college path! It is basically a choice of becoming a successful lawyer or a career busboy! ? What’s my point? Well…Yes, I do lose at that game a lot and don’t like to play it anymore! But also, that I agree with wibornz and that a college degree isn’t always the best option for all the people all the time. Sure it “checks a box” and can open some doors, but it isn’t the only path to happiness.

A college degree, the right type of college degree can be very helpful. Some of the degrees are down right useless. For instance, I had employees that worked for me that had masters degrees and a couple that had PHDs. Yet here they are working in a field that requires 28 credits of college..... Some of the college degrees are a pyramid scheme. You get a master degree as there are no employment opportunities with a bachelor's degree. Then with the Masters degree or PHD, you can become a professor to teach the worthless degree to other.

 

[Megawatt]

I am ready to retire at 56, I told my wife to retire from teaching kindergarten 10 years ago and enjoy life. We even put an offer on a house in NW Arkansas last month. I wanted to retire while I can still be active, travel and do things.

We cancelled the house purchase last week. My job pays stupid money that is hard to walk away from and it has good coworkers and management. I am not a company guy buy I can appreciate working here for the last 20 years. I max out the OASDI tax contribution every year before Halloween.

Living in Vegas offers a lot more that tourist will never know. So we decided to stick it out for another year because we choose to. But one bad day at work would not be bad news as I can walk away and not look back.

 

[Saddle Tramp]

Been working 48 years in the same field with lots of ups and downs, was divorced once lived in my car for a few weeks but got back on the right path. Married an angel moved into a double wide in rural VA and saved every penny until we bought our dream home a little log cabin in the NC mountains, restored it sold the place in VA and put in for my retirement. they somehow managed to make me an offer to stay on and work 100% remotely. I said OK but I am re-evaluating my enthusiasm. I am in a very good position to ride the wave and bail out as soon as the Poop hits the wind turbine!

 

[Aonar]

Answering before reading the thread. I will most likely never retire. Will be 62 next month.

-My job keeps me physically active. This helps to keep me healthy.
-As an introvert, were I to retire I would rot away quite quickly...
-I will need health insurance (almost assuredly) at some point in the near future to pay for catastrophic health care needs (congenital defect).
-As I continue to work, I continue to add to my 401K & HSA, both of which reduce my taxable income. Both are also partially funded by my employer.
-Bulking up my HSA whilst working also reduces what I might have to take out of savings IF I eventually drop down to part time & need health care $$.
-We live fairly frugally. I take home less than 1/2 of my gross pay. Gives you an idea of how much I save.
-I currently have 3 weeks of paid vacation/year which helps me get out on longer offroad trips. This will bump up to 4 weeks IF I make it another 5 years. I have 169 hours of sick time built up.
-I have no debt.
-I have a little savings but not enough to hold me through retirement IF I want to do what's on the next line.
-I want to have some small amount of savings left when I am dead to pass onto my wife and/or kid
-I plan and hope I am one of the lucky ones who drops dead quickly, without a lingering expensive decline.
My Wife also works and saves.
We both have worked hard for what (little) we have.

I am at peace with my plan. Overall, I would only do a couple things differently if I had a do-over. Can't ask for more than that I figure.

 

[Deleted member 59498]

Hi Scott,

My point was sort of directed to @DKAwildcat but to the audience in general. I don’t think I missed ‘the point’. BTW your original post was literally “Crap”. ‘

I think I iterated that higher education should be considered with passion, happiness, and security in mind. I deliberately tried to stay away from our downward ascent toward social progressivism. I too do not want to contribute to the funding of the institutions that promote this ideology. I put both my children through ‘higher’ education with must consternation.

I had to tread the waters of indoctrination while seeking my passion to be an engineer. I only was offering my POV. Apologies if my message was not received as intended.

My bad Dragon! I was thinking wow didn't think I said anything to be called idiot (ignorant)!

Although give me a couple hours I am sure I will say something

But no I have degrees. I just don't think they are always needed.

 

[Deleted member 59498]

Answering before reading the thread. I will most likely never retire. Will be 62 next month.

-My job keeps me physically active. This helps to keep me healthy.
-As an introvert, were I to retire I would rot away quite quickly...
-I will need health insurance (almost assuredly) at some point in the near future to pay for catastrophic health care needs (congenital defect).
-As I continue to work, I continue to add to my 401K & HSA, both of which reduce my taxable income. Both are also partially funded by my employer.
-Bulking up my HSA whilst working also reduces what I might have to take out of savings IF I eventually drop down to part time & need health care $$.
-We live fairly frugally. I take home less than 1/2 of my gross pay. Gives you an idea of how much I save.
-I currently have 3 weeks of paid vacation/year which helps me get out on longer offroad trips. This will bump up to 4 weeks IF I make it another 5 years. I have 169 hours of sick time built up.
-I have no debt.
-I have a little savings but not enough to hold me through retirement IF I want to do what's on the next line.
-I want to have some small amount of savings left when I am dead to pass onto my wife and/or kid
-I plan and hope I am one of the lucky ones who drops dead quickly, without a lingering expensive decline.
My Wife also works and saves.
We both have worked hard for what (little) we have.

I am at peace with my plan. Overall, I would only do a couple things differently if I had a do-over. Can't ask for more than that I figure.

Hey yeah, even when I say retire I am not sure I would not do a little consulting if anyone wanted to help with start up IT etc. Plan sounds good to me!

 

[Deleted member 59498]

Well West Virginia sure looks like an affordable home base for Jeeping!

 

[Deleted member 59498]

A college degree, the right type of college degree can be very helpful. Some of the degrees are down right useless. For instance, I had employees that worked for me that had masters degrees and a couple that had PHDs. Yet here they are working in a field that requires 28 credits of college..... Some of the college degrees are a pyramid scheme. You get a master degree as there are no employment opportunities with a bachelor's degree. Then with the Masters degree or PHD, you can become a professor to teach the worthless degree to other.

Absolutely, engineers, doctors, dentist, accountants et al. There are many amazing jobs that must have a degree it is the only way to get the education needed for specialized work. Then there are the massive amount of useless ones these days and the ripping off of young people.

 

[Under-Pressure]

Yeah 25 here thinking of just giving up a couple hundred a month and go live life!

A couple hundred a month to go from alive to living life. … Priceless!

 

[Deleted User 38384]

If you lower your cost of living, living life costs less. Pretty straightforward, no?

I'm in my mid to late '30s, and I'm fairly newly married, so I'm still setting up our life so that we can have a house and some land, with an end game goal of having everything paid off by the time we are 55.

If my only overhead is taxes and food, we can travel and enjoy life easier. Our money will go further, because we'll be spending less. We can work less, because our cost of living is lower. At a certain point, with enough savings, you can retire and still enjoy life.


Or technically I could just wait until my parents kick the bucket and I'll be filthy rich!

Realistically speaking, I'll probably do the aforementioned, and then use whatever my parents leave behind as a nest egg. That is assuming that we all live past the 2029 asteroid that will more than likely kill us all.

 

[Boatbuilder88]

My wife and I practiced F.I.R.E. (Financial Independence, Retire Early) principles before F.I.R,E. became a financial movement. We lived very frugality and invested HEAVILY (401k / Roths / taxable brokerage accts) in our 20s and 30s. We stopped worrying about money in our 40s and retired at age 55. I worked for two Fortune 100 companies (engineer and middle management jobs) during my career and have two pensions that I have yet to tap.

 

[sunset]

Had always put the max into my 401k and am completely sold on Roth IRAs. The old saying is that working at the phone company you'll never be rich but you'll never be poor. I twice moved across several states to follow my job, finally landed in high-dollar Seattle and, with the price of homes here, with the small equity I brought with me it was like starting over to buy a house at age 39. I figured paying a new 30-year mortgage would mean I'd pay off the house at age 69 which meant I'd be employed through my 60s and that was not likely in this post-Bell-System-breakup climate. I realized I needed a better plan. To jet myself ahead, I worked 12-hour days for 5 years plus occasional Saturdays. Stalin had his 5-year plan and I had mine. Lived frugally (always have), put every energy into paying off the mortgage as if it were a 15-year mortgage, was frugal in all other areas, had pay-as-you-go cell phone, used free dial-up internet, paid no cable or streaming services, took the bus everywhere, was intense on getting out from under a mortgage. Finally paid off the house in 2008 after twelve years. Have had no car payment since 1989. I am fee-phobic. I've always paid my credit cards off every month, have not paid a cent of CC interest since 1980. I save ahead for large purchases, my own lay-away plan.

I retired age 56 after 37 years at the old telephone company and with the three-legged stool. I live off my service pension only and have not yet applied for social security although I have been eligible for several years. I have not tapped into my 401k and I plan to buy a 392 from some of my Roth earnings. My first car purchase in 40 years.

May God Bless Senator William Roth for his namesake creation and may he Rest In Peace. I am a complete advocate of the Roth IRA and recommend everyone start one, and the earlier the better.

Everything has long been paid for. I figure I have enough saved that I could not earn a penny of investment interest for the rest of my life and I'd still have enough to carry me out. Not rich but not poor, not a high consumer by nature, always carefully watching where the money goes.

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