Rinty
New member
I'll need to lay in a few more cases of Red Breast...Dakar001
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I'll need to lay in a few more cases of Red Breast...Dakar001
Two weeks retired as of yesterday. Loving it so far, but I have to admit it still feels like a vacation. I definitely have not been bored so far. Played golf three times last week (twice in shorts - gotta love Texas!). Winter yard work is done. I think I might like this!
Two weeks retired as of yesterday. Loving it so far, but I have to admit it still feels like a vacation. I definitely have not been bored so far. Played golf three times last week (twice in shorts - gotta love Texas!). Winter yard work is done. I think I might like this!
Glad to read what all of you are writing. I am not sure I have enough assets to actually live here in Calif (where my 3 grown kids are), but am getting readier & closer to the glorious day.
I wonder how someone your age figures for inflation these days? On a "today" basis, you can do some figuring but given the state of the economy and what folks my age have seen since our youth, it's a tough guess,HUH? Having worked in grocery store from like 59-65 & knowing prices for food then it is amazing whats transpired.Retirement. Interesting concept. All this talk of retirement has got me thinking if and when I'll be ready for retirement. Currently in the late 40's so not much time left to think or prepare for it I suppose.
Can't think of anything better then going to work and getting paid for something a person enjoys doing as commented in some earlier posts. I'm still trying to figure out what that would be for me. Seems there's some sort of asymmetrical balance between establishing the environment, making it happen, and having the right frame of mind. Still trying to find that balance sort of speak.
Hypothetically, assume for a moment at point of retirement:
1. Home is paid for free and clear of any encumbrances.
2. Equity bank account is one million dollars in investments.
3. No debt.
4. $3,000/mth pension starting at age 56.
5. $2,500/mth social security starting at age 67.
(All figures in today's dollars)
Assuming this person retires at age 56 and lives another 30 years to age 86, is this enough?
Costs to consider:
1. Health insurance premiums.
2. Catastrophic or major medical health care costs.
3. Elderly care costs.
4. Inflation (almost a certainty in the next decade).
5. Leisure and travel.
6. Insurance, maintenance, property upkeep, utility, food, and clothing.
7. Gifts, family socials, transportation, hobbies, cars, motorcycles.
8. Property tax.
All the continuing cost that may gradually increase over time as well as potential medical costs are where the uncertainty sets in. I dunno if above situation is enough. The idea is not to scrimp but retire in modest comfort and with some degree of financial security.
Also as noted in an earlier post, different people have different concepts of retirement. Personally, I would consider myself retired if I can pursue any activity part-time or full-time with a passion that which my heart desires and which I enjoy doing and consider therapeutic.
At the moment my idea of therapeutic activities are modifying cars, rebuilding motorcycles, hunting, reading books, researching financial investments, photography, watching sports, mountain biking, golfing, road trips, driving sports cars, and being a couch potato when and where I want.
Well, I suppose that about sums it up. Seems there's not much demand in the way of jobs for these sorts of activities. I really have no lack of activities that I have a passion for or want to pursue. I do have limited resources in pursuit of these activities so there in lies the conundrum and thus the need to prioritize and balance passions against capabilities based on most bang for the buck.
Just my $.02 worth on the whole notion of retirement.
Glad to read so many posts on early retirement and general overall satisfaction with life style. I am eagerly awaiting my time to retire as soon as possible. Ciao.
I wonder how someone your age figures for inflation these days? On a "today" basis, you can do some figuring but given the state of the economy and what folks my age have seen since our youth, it's a tough guess,HUH? Having worked in grocery store from like 59-65 & knowing prices for food then it is amazing whats transpired.
You can always sell out there & come to KY and "buy up". A small house there will get you a ranch here...
Talking assets to retire it was a no brainer for us as we have what we have, so to speak & time was right. I talked to a man,age 98 then, a few years back (while out for a walk on my mother's retirement home property) & he had taken early retirement many years ago from Briggs & Stratton in Wisc. and had been the VP in charge of parts, or similar title. Kind of wierd as here I was about the age he retired then and it was over 40 yrs later at the time of the conversation. Anyway, he had been at a higher level of admin and had lots of savings too and had come to KS based on a daughter being there. He had about run out of $ to stay in his apt(as had my Mom) and would soon move "downstairs" to a simpler living situation(could continue until the end) at that point. As people live longer & especially if you have no inflation protection or longivity protection there will be many more in his "running out of money" situtation.
AMEN to the above by Kevin!
When I took the course "Advanced Human Growth & Development" the course name wasn't about being a "top level course" (Masters in Counseling), it was about a humans senior years. Many participating in this thread are in what is (in chalkboard lingo) "their active senior years". There is always the lingering concern of when they end & how but, making the most of them is important as a part of a healthy life style & having the time to reap the benefits of such is the it!
So true, what you have said.
We reach a stage in our lives when we know there are fewer birthdays ahead of us than are behind, and begin to fixate on our mortality, and the method of our final exit.
The doctor told me recently, my heart is in no shape for intense sex. At least I know how I'm going to die!
The doctor told me recently, my heart is in no shape for intense sex. At least I know how I'm going to die!