Aldeer.com Forums Alabama Deer Talk Aldeer General Forum Americans retirement

I took a mortgage on on particularly LARGE place (my primary) because the interest rate was 2.3% at the time and it is like free money.
That was 12 years ago and my equity is ridiculous. I’m also 100% tax exempt which extends to my surviving spouse on said property.

I have a few Airstream trailers parked on other properties, just ain’t into paying taxes for recreational joints.

I went all in on a Black Jack with the big property (homestead) and broke the house. 😂🤣

I still buy my whiskey on base so piss on the tax man ! 😂🤣😂🇺🇸

I’m so thankful Noriega, Saddam, Pablo Escobar, and the Clintons had money just sitting around 🇺🇸😂🤣😂🇺🇸😂🤣🇺🇸

My plan was to retire on Jan 1st. But I have so much saved vacation, I may work three days a week, take two days of vacation. That gets me to sometime in June. Doing this I get two more dividend checks to buy more dividend stock.

My son works a job here that does a lot of prevailing wage contracts. The company puts A LOT of money into the 401k of those guys... Nice knowing he'll have something in the future.

When I was working full time I put 1% more in my 401k everytime I got a raise. At 55 I retired, quit, said Frick it whatever you call it. I do some welding jobs to pay for my health insurance and so forth. We are debt free and haven't had to touch our saving. It takes commitment and patience and sacrifice. Also good investments. When I left jobs I was able to roll money into my IRAs and make better investments than the cookie cutter 401ks had.

Yes it does take commitment and sacrifice

You could match most peoples retirement contributions 2:1 and they'd still withdraw it early and use your contributions to pay the tax penalty. I've watched it happen.

Not a bad plan, part time job for 6 months

This is always an interesting conversation because everyone's financial situation is so different determined by where they live and what they do. Are you retiring and traveling the World.... or just riding your 4-wheeler around your yard? Lots of differences.

Lots of people on here bought a $100-200k house 30 years ago and still live there and have paid it off. That's what a decent place use to cost. Mortgage payment was less than apartment rent for most of their loan term.

Those of us I'd say about 40 years or older didn't have it as easy as their parents did (baby boomers) and... well I'm very sorry for the younger generation. They will be broke forever. You can't buy a $500k house at 25, start a family and save money for retirement like our generations did. Those coming into the workforce or starting families right now are completely screwed. With all the illegals coming in and keeping wages down while prices will never go back down. Mortgage payments and Health Insurance combined are going to eat a young family alive over the next 10-20 years at least. Those 2 things alone are going to cost a young family probably 3x what it cost me MONTHLY. The mortgage being the most damaging you don't get out of that payment you carry that the whole time you are trying to save for "retirement".

See how all that works. You might not. It's not going to work out well.

I went to get my nails done the other day I actually had my fingernails taken back to just natural and no polish to let them grow out and spend a little less and when I was sitting in the pedicure chair talking to the girl working on my feet she was talking about how all of them are 1099 employees and that she automatically has 25% of her check put into a savings account to pay taxes each year and she saves another 30% in a different account. I told her she was actually living on just 45% of her gross income and then asked if she was still living at home (she's 20 years old). She said she actually had moved into her own place and only paid $400/month and her electric bill was only running about $100 per month with a window a/c unit. She said she can eat at home instead of eating out. I told her that someone had schooled her well about money and she said it was her parents who did. I have no idea where she is living, but everything that is advertised around here at minimum is $800 and some of those you might not want to let your dog live in, so I am thinking maybe she is renting someone's garage apt or guest house that is strictly a word of mouth type thing.

If she keeps saving like that and learns to invest, then she may be one of the few that can make it these days.

Family member said they were looking at trailers and a new one was 150,000. I just about couldn’t sleep last night thinking about that. A trailer costs what I paid for my house 20 years ago. No, I don’t like the direction it’s going…..

Sadly $150k is not a very high end mobile home. Many are $250k and up and depreciate like a car.

Shows how long it's been since I've seen trailer prices. I had NO CLUE they cost that much

I get living in a modest/older well sorted mobile home as a great way to save money to get ahead, but dropping $250,000 on a Mobile Home is insane.
That’s what we paid for our 2,000sqft house on 1.5Ac lot 10 miles from Jordan Hare.

If my plan continues, I'll be pulling the plug and retiring fully in about 6 years at the age of 55 along with my wife - she'll be 53.

SAVE AND INVEST!

Yall got it all figured out

Impressive, very impressive.
My goal is to be optional by about that time, recently turned 33, so in about 20+/- years.
I’m well ahead of most of my peers age wise but feels like with inflation that $250,000 is really just $25,000

My two boys are 17 and 11. I am scared to death at what they are going to financially face in their lifetimes. Living with your parents after HS or college used to be viewed dimly back when I was getting put of all that in the 90s. I'm thinking that it may be more of a survival tactic now and in the future.

If they’re lazy video game 24/7 basement dwellers, not cool
If they’re productive respected members of society and living at home to save for a down payment, hell ya.

I really for the folks younger than myself, I scored a 3.1% mortgage.

My plan was to retire at 54. One year earlier than my father did, just to show him. I was on track until I decided to purchase another company a couple years ago at 50 and my new plan is to work until I'm 60. The kicker these days is health insurance. $2k a month with a high deductible takes big bites out of dividends if you retire early.

I don’t know why I bother to keep reading this thread. I get more depressed every time! “Save and invest”…shoulda done more of that.