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ISO
by Big Game Hunter. 06/04/24 09:19 PM
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Iso
by AustinC. 05/21/24 05:01 PM
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45 registered members (BCLC, BAR1225, Jwbfx4, Tmacfire, Semo, brassmagnet, Woodsy, UARandy3, bhammedic84, jawbone, GmeHunter, Claims Rep., TexasHuntress, rhino21, Gobble4me757, bamaeyedoc, beeline08, Sixpointholler, YellaLineHunter, 1hunter, dwaugh, Morris, Atoler, phinfan, DThrash, C3SEAST, Ridge Life, Cactus_buck, Big Bore, n2deer, Johnal3, Duck, FreeStateHunter, ucmducks, scrape, Spec, WhoMe, Whild_Bill, dave260rem!, turfarmer, Daniel4191, 4 invisible),
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Key:
Admin,
Global Mod,
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Re: Retirement...how much is enough?
[Re: ParrotHead89]
#3297876
12/20/20 08:30 AM
12/20/20 08:30 AM
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Joined: Jul 2011
Posts: 34,817 Boxes Cove
2Dogs
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 34,817
Boxes Cove
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I cant believe the amount of people not prepared or getting prepared for retirement. I was talking with another teacher last spring telling her I lost 100,000 in my retirement, this is when Covid hit. She said you lost more than I have in there. I about fell over. This is a 58 year old teacher. She and her husband are both teachers so they pull down 160,000 plus between them. I always talk with young teacher especailly if they are single and tell them how important it is to start early. Start with 25 bucks per pay, something. I hope those young folks are listening, good advice. Some more advice I gave to my kids, don't go in debt bigtime early in your adult life. Once you get dug in a hole of debt it's hard to dig out.
"Why do you ask"?
Always vote the slowest path to socialism.
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Re: Retirement...how much is enough?
[Re: ParrotHead89]
#3297912
12/20/20 09:16 AM
12/20/20 09:16 AM
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Joined: Nov 2015
Posts: 14,123 Chilton County
MarksOutdoors
Booner
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Booner
Joined: Nov 2015
Posts: 14,123
Chilton County
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2dogs anther I noticed with young people today is they want to jump in and have the best of everything. Like homes, use to be people got married got a starter home would do some upgrades on it then down the road usually when they had kids then up grade or bigger house. Now days they have to keep up with the Jone's and get home in the biggest neighborhood. Same thing with cars. My parents did this. Bought a house in 1972 for $11,000. Paid it off in 20 years and 3 additions/renovations later it's worth about $200,000.
"The true soldier fights not because he hates what is in front of him, but because he loves what is behind him." -G. K. Chesterton
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Re: Retirement...how much is enough?
[Re: ParrotHead89]
#3297916
12/20/20 09:22 AM
12/20/20 09:22 AM
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Joined: Sep 2012
Posts: 14,370 ArmPit of the south
DeerNutz0U812_
Booner
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Booner
Joined: Sep 2012
Posts: 14,370
ArmPit of the south
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I cant believe the amount of people not prepared or getting prepared for retirement. I was talking with another teacher last spring telling her I lost 100,000 in my retirement, this is when Covid hit. She said you lost more than I have in there. I about fell over. This is a 58 year old teacher. She and her husband are both teachers so they pull down 160,000 plus between them. I always talk with young teacher especailly if they are single and tell them how important it is to start early. Start with 25 bucks per pay, something. Man, teachers make really good money in Indiana.....
Did you know that Beer Nutz are over a Dollar...and Deer Nutz are under a Buck...
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Re: Retirement...how much is enough?
[Re: ParrotHead89]
#3297919
12/20/20 09:29 AM
12/20/20 09:29 AM
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Joined: Jul 2011
Posts: 34,817 Boxes Cove
2Dogs
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 34,817
Boxes Cove
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2dogs anther I noticed with young people today is they want to jump in and have the best of everything. Like homes, use to be people got married got a starter home would do some upgrades on it then down the road usually when they had kids then up grade or bigger house. Now days they have to keep up with the Jone's and get home in the biggest neighborhood. Same thing with cars. Yep, that's what I'm talking about. Right off the start entering the adult/working world , big new house, 2 autos, boat, SxS , on and on. The deeper they dig that hole , harder it is to get out.
"Why do you ask"?
Always vote the slowest path to socialism.
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Re: Retirement...how much is enough?
[Re: Irishguy]
#3298106
12/20/20 02:25 PM
12/20/20 02:25 PM
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Joined: May 2020
Posts: 31 Jasper, Al
WalkerCoReject
spike
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spike
Joined: May 2020
Posts: 31
Jasper, Al
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Got 500k in 401k, 150k in savings... but owe 120 on house. When house is paid off and I got 1m in 401k... I will find something else to do. Rotating shifts suck. That's a good place to be. You are doing way better than the vast majority of folks. I guess age matters... I am 41
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Re: Retirement...how much is enough?
[Re: ford150man]
#3298210
12/20/20 04:40 PM
12/20/20 04:40 PM
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Joined: Jan 2003
Posts: 343 Hoover, AL, USA
woodswalker
4 point
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4 point
Joined: Jan 2003
Posts: 343
Hoover, AL, USA
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Yep, all well and good if you live long enough. I know a guy who's wife died of cancer 6 months before he retired with over $500k in his 401k. I'm betting he wishes some of that had been spent on good vacations with her instead when she was healthy.
I have another friend who saved 50 cents out of every dollar, complaining to his wife about how much she spent on groceries so much that he took over all the shopping. Several years later she got tired of not having things and they divorced. She got the house, alimony, and child support.
No doubt you need to save but there has to be balance. Enjoy life along the way.
Last edited by woodswalker; 12/20/20 04:41 PM.
"The price of anything is the amount of life you exchange for it." -- Henry Thoreau
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Re: Retirement...how much is enough?
[Re: woodswalker]
#3298271
12/20/20 06:01 PM
12/20/20 06:01 PM
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Joined: Nov 2011
Posts: 21,810 USA
Remington270
Freak of Nature
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Freak of Nature
Joined: Nov 2011
Posts: 21,810
USA
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Yep, all well and good if you live long enough. I know a guy who's wife died of cancer 6 months before he retired with over $500k in his 401k. I'm betting he wishes some of that had been spent on good vacations with her instead when she was healthy.
I have another friend who saved 50 cents out of every dollar, complaining to his wife about how much she spent on groceries so much that he took over all the shopping. Several years later she got tired of not having things and they divorced. She got the house, alimony, and child support.
No doubt you need to save but there has to be balance. Enjoy life along the way. I bet there’s 100 people that save $0 for every person that saves too much.
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Re: Retirement...how much is enough?
[Re: ford150man]
#3298303
12/20/20 07:04 PM
12/20/20 07:04 PM
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Joined: Jan 2016
Posts: 1,667 Opelika Al
Madmax0818
8 point
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8 point
Joined: Jan 2016
Posts: 1,667
Opelika Al
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I think about this all the time too. I’ve hit the point where I will continue to save but also enjoy life and do things. If I have enough then great. I see too many time where people die before their time and I want to enjoy life and have no regrets. To each their own.
Worst case I will be a door greeter at Hobby Lobby when I’m 80. A lot of great scenery there.
Last edited by Madmax0818; 12/20/20 07:04 PM.
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Re: Retirement...how much is enough?
[Re: ford150man]
#3298306
12/20/20 07:14 PM
12/20/20 07:14 PM
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Joined: Jul 2011
Posts: 34,817 Boxes Cove
2Dogs
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 34,817
Boxes Cove
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Worked with a feller who wouldn't retire . Always said he was gonna retire in a few months, wanted to add to his 401k and SSI . We stayed after him trying to get him to retire, before he knew it he was flirting with 70. He went home from work one afternoon , wasn't at work next morning, he had a killer heart attack mowing his yard.
"Why do you ask"?
Always vote the slowest path to socialism.
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Re: Retirement...how much is enough?
[Re: 2Dogs]
#3298320
12/20/20 07:43 PM
12/20/20 07:43 PM
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Joined: Aug 2003
Posts: 42,318 UR 6
top cat
Freak of Nature
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Freak of Nature
Joined: Aug 2003
Posts: 42,318
UR 6
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Worked with a feller who wouldn't retire . Always said he was gonna retire in a few months, wanted to add to his 401k and SSI . We stayed after him trying to get him to retire, before he knew it he was flirting with 70. He went home from work one afternoon , wasn't at work next morning, he had a killer heart attack mowing his yard. Nothing wrong with that
LUCK:::; When presistence, dedication, perspiration and preparation meet up with opportunity!!! - - - - - - - -A government big enough to give you everything you want, is big enough to take everything you have. Thomas Jeferson - - - - - - - -
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Re: Retirement...how much is enough?
[Re: top cat]
#3298341
12/20/20 08:15 PM
12/20/20 08:15 PM
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Joined: Jul 2011
Posts: 34,817 Boxes Cove
2Dogs
Freak of Nature
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Freak of Nature
Joined: Jul 2011
Posts: 34,817
Boxes Cove
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Worked with a feller who wouldn't retire . Always said he was gonna retire in a few months, wanted to add to his 401k and SSI . We stayed after him trying to get him to retire, before he knew it he was flirting with 70. He went home from work one afternoon , wasn't at work next morning, he had a killer heart attack mowing his yard. Nothing wrong with that I guess not. He wanted to retire , tend his farm and cattle, just never would pull the trigger.
"Why do you ask"?
Always vote the slowest path to socialism.
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Re: Retirement...how much is enough?
[Re: Gary08]
#3298429
12/20/20 10:25 PM
12/20/20 10:25 PM
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Joined: Mar 2018
Posts: 16,866 Banana Republic
jb20
Old Mossy Horns
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Old Mossy Horns
Joined: Mar 2018
Posts: 16,866
Banana Republic
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My parents have always pinched pennies, saved skimped and made whatever junk they had work, bought a boat one time sold it after a year because it was too expensive, sane with a camper. Never did anything nice for themselves or had anything really nice. They had big dreams of retirement and buying a motor home and traveling together. Well my mom passed away 3 years ago at 47 years old. Now he wishes he didn’t have a pot to piss in because he did all that sacrificing for nothing. I have paid off nice vehicles, healthy 401k and enough savings for 6 months. When I pay my house off I’ll buy some land so I can leave my kids something. I can promise it won’t take a big hole to bury me and what money I have left.I plan to leave this world with not much more than what I came in it with I refuse to not make a memory or take a trip or buy a toy because I should “save” it for later. Don’t care what others do but knowing what my dad is going through with his regrets makes me sick when I hear people treat their family shitty over a dollar. That's why I take a couple trips a year with family...kids will be on there own soon and if something happens to me or wife I won't have regrets about not going places...I really dont need to go all the time but who wants to wait till they old to go places even if u do make it to old age
They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. Ben Franklin
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Re: Retirement...how much is enough?
[Re: Hangfire]
#3298441
12/20/20 10:49 PM
12/20/20 10:49 PM
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Joined: Feb 2012
Posts: 1,282 Tennessee
FLGunslinger
8 point
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8 point
Joined: Feb 2012
Posts: 1,282
Tennessee
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Seems like healthcare costs are the biggest issue for everyone. So when joe and the dems get us all Medicare for all, we can all retire early, and buy nice things instead of paying health insurance. 1- Brain dead Biden isn't our president 2 - Medicare for all will bankrupt all of us and no one will be able to retire. Who do you think will pay for it? It was sarcasm. And we owe something like $25 trillion now. Who do you think is gonna pay for that? At a certain point it all becomes a joke. It’s to that point with me. Almost 25% of all the United States dollars ever made, were made in 2020. They just print more seems to be the answer. And as long as we all don’t even understand, or care to do anything, they keep steamrolling us. The joke is on us, the little guy, look who gets bailed out, it’s the big banks. You’re already a tax slave. We will take it and like it. It’s gonna get worse. Agreed. And we are approaching 28 trillion. We are spending our grand children's money that haven't earned yet.
Audentis Fortuna Iuvat
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Re: Retirement...how much is enough?
[Re: ford150man]
#3298476
12/21/20 12:18 AM
12/21/20 12:18 AM
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Joined: Jul 2005
Posts: 19,125 Chelsea, AL
straycat
Old Mossy Horns
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Old Mossy Horns
Joined: Jul 2005
Posts: 19,125
Chelsea, AL
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Part of our retirement plan is at age 65 to have enough passive income from real estate investments to generate $10,000 per month in net cash flow minimum. Hopefully more, but that is the minimum goal. That equates to 35-40 units averaging $250-$300 net, after expenses, cash flow each. Not 100% passive but it's pretty hands off when using a management company..we self manage right now but by June everything will be though a management company. The beauty in income generating assets is as residential properties with 15-20 year mortgages and commercial properties with shorter loan terms start being paid off, then that cash flow will increase yearly and continue to increase in subsequent years.
By June 1st I will have 11 units that are cash flowing nicely and my portfolio leverage will be roughly 60%....so 40% equity position. June 2021 will be 2 years doing real estate as a side hustle business. I'm age 51. 25% to my 15 year goal in 2 years. Simple dedicated, focused hard work and a lot of God going before us helping make wise decisions. I'm not bragging because I have been helped along the way by numerous mentors and very wise and accomplished investors/business people. I'm just following a solid plan that is tried and tested and proven. Some economic disaster could happen and wipe it out...that is a risk of a leveraged position. But I'm not over leveraged so hopefully it will work out.
I did not heed the wise advice I had been given when I was younger so I was very very late in starting any retirement savings of any substance. I'd rather base it off of a performing asset rather than the stock market anyway. So I'm doing both.
"The grass withers, the flower fades, But the word of our God stands forever." Isaiah 40:8
"Neither the wisest constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt.� Samuel Adams
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Re: Retirement...how much is enough?
[Re: ford150man]
#3298643
12/21/20 10:42 AM
12/21/20 10:42 AM
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Joined: Feb 2017
Posts: 1,567 FL-AL
Scout308
8 point
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8 point
Joined: Feb 2017
Posts: 1,567
FL-AL
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My Father in Law is still working at 85 years old and can't retire. He made a lot of bad choices and continues to do so. He didn't get into the state retirement because he listened to bad advice from relatives who told him that he wouldn't live long enough to collect it! He has been working at the same place for sixty four years. Sad!
"America First! Nothing Else Matters"
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Re: Retirement...how much is enough?
[Re: Gary08]
#3298966
12/21/20 04:18 PM
12/21/20 04:18 PM
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Joined: Dec 2002
Posts: 52,003 Round ‘bout there
Clem
Mildly Quirky
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Mildly Quirky
Joined: Dec 2002
Posts: 52,003
Round ‘bout there
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I refuse to not make a memory or take a trip or buy a toy because I should “save” it for later. Don’t care what others do but knowing what my dad is going through with his regrets makes me sick when I hear people treat their family shitty over a dollar.
Amen.
"Hunting Politics are stupid!" - Farm Hunter
"Bible says you shouldn't put sugar in your cornbread." Dustin, 2013
"Best I can figure 97.365% of the general public is a paint chip eating, mouth breathing, certified dumbass." BCLC, 2020
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