- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Retirement discussion that I never thought I’d have.
Posted on 6/20/26 at 9:08 pm to TorchtheFlyingTiger
Posted on 6/20/26 at 9:08 pm to TorchtheFlyingTiger
quote:that’s excellent if you have that luxury. I don’t have a pension and neither do most people. If you have income then sure, let it pay your note(s). I don’t, and thus am and will remain debt free.
I'm content to let that 3.75% debt ride while my pension that pays the note increases with annual COLA.
my idea of retirement is just that, not working. I don’t want rental properties to worry about, I don’t want to consult, I don’t want to do anything other than frick off and spend money.
1
Posted on 6/20/26 at 9:22 pm to LSU alum wannabe
quote:
Says “you should be fine”.
I hope you have more info than this.
My opinion is only use a financial advisor if you’re a total buffoon with no ability to manage your own money.
Ultimately you’re responsible for it, and any devastating “mistakes” made by the advisor will never be addressed.
Ditch your FA and do it yourself.
Posted on 6/20/26 at 9:48 pm to cgrand
quote:
the single most important thing is no debt of any kind
Generally, this may be good advice but is not universal.
I’m retired with a 2.8% mortgage. Have multiple funds that could pay it off tomorrow, but giving up 9-12% after tax returns and positive spread over mortgage rate goes against my financial DNA. I will have that mortgage until I am a ghost.
Using other people’s money for positive spread is a big reason why retiring early was possible.
Peace of mind of financial freedom >
Peace of mind of ‘no debt of any kind’.
For me.
This post was edited on 6/20/26 at 9:56 pm
Posted on 6/20/26 at 10:20 pm to cgrand
quote:I agree with your philosophy.
I don’t want to do anything other than frick off and spend money.
Posted on 6/21/26 at 5:34 am to LSU alum wannabe
It’s a weird mindset esp after saving and cutting back the majority of life.
My advisor told us we hit our ‘number’ a while back for walking away at 50 and continuing our lifestyle very easily. As long as I continue to work at this point, we should live it up as there’s really no further reason to save unless we want to die with a bunch of money in the bank (no kids so nothing to leave behind).
With that said, saving and living way wihin means is so engrained, something still feels stressful and uncomfortable making purchases we normally wouldn’t.
My advisor told us we hit our ‘number’ a while back for walking away at 50 and continuing our lifestyle very easily. As long as I continue to work at this point, we should live it up as there’s really no further reason to save unless we want to die with a bunch of money in the bank (no kids so nothing to leave behind).
With that said, saving and living way wihin means is so engrained, something still feels stressful and uncomfortable making purchases we normally wouldn’t.
This post was edited on 6/21/26 at 5:37 am
Posted on 6/21/26 at 6:56 am to LSU alum wannabe
Is he a FC or VPFC?
Posted on 6/21/26 at 7:54 am to TorchtheFlyingTiger
quote:
Like everything else, this is entirely situation dependent.
Came here to say this.
Debt is one aspect of the big picture. I could have paid my mortgage off when I retired, but chose to keep my money earning much more than my low mortgage rate.
Posted on 6/21/26 at 9:38 am to KWL85
quote:Same. This is one of those Dave Ramsey points that I diagree with. They'd have you pay off the mortgage for "financial peace", but as long as you're mentally mature in your thinking and don't do anything stupid, how is this not just as or more peaceful? I get it, most people are stupid and the simple answer is best. However most people reading this board probably do not fit in that category.
Debt is one aspect of the big picture. I could have paid my mortgage off when I retired, but chose to keep my money earning much more than my low mortgage rate.
Posted on 6/21/26 at 9:41 am to RoyalWe
quote:I am not the former and have a propensity for the latter
as long as you're mentally mature in your thinking and don't do anything stupid
. It’s all about self awareness and risk reduction for me
Posted on 6/21/26 at 1:47 pm to RoyalWe
Debt in retirement isn't for everyone but it works for many. It shouldn't be something to strictly avoid due to strict dogma. Just yesterday I helped my nearly 70 yr old Mom apply for a mortgage on a half million $ new home. She will be much more financially secure with this debt than if she depletes retirement nest egg. She is upgrading her living situation moving closer to family and when she eventually sells the current cheaper home the proceeds will likely be invested mostly in cash equivalents and will cover 5 years or so of payments.
Posted on 6/21/26 at 3:42 pm to LSU alum wannabe
Cash reserve so you can ride out a 40- to 60-month downturn to avoid a permanent selling into a loss situation.
Especially if you stay aggressive with your allocation.
Especially if you stay aggressive with your allocation.
Posted on 6/21/26 at 3:50 pm to Everyday Is Saturday
quote:
Peace of mind of financial freedom >
Peace of mind of ‘no debt of any kind’.
For me.
I agree that everyone's situation is different. I have a big balance on a 2.5% mortgage. If it were 5% I might be more motivated. It isn't so I'm not. The risk of holding a 2.5% mortgage isn't much higher than parking cash in a HYSA.
Posted on 6/21/26 at 6:02 pm to Ace Midnight
quote:
Ace Midnight
Get out of here man. You know of my guitar “problem”.
Posted on 6/21/26 at 6:49 pm to LSU alum wannabe
quote:
You know of my guitar “problem”.
Just buy vintage. Tell the wife they're investments.
Posted on 6/21/26 at 7:13 pm to LSU alum wannabe
Do you want to be the richest man in the graveyard? Dont waste healthy years of retirement because you can't learn to change habits.
Posted on 6/21/26 at 8:17 pm to LSU alum wannabe
Ask guy for a Monte Carlo analysis.
Is his projections based on continued savings? Drawing down starting when?
I’m starting to see a lot of 70 year olds that have a lot more money in their IRAs than they ever imagined. So much that now they are freaking out about RMDs
Is his projections based on continued savings? Drawing down starting when?
I’m starting to see a lot of 70 year olds that have a lot more money in their IRAs than they ever imagined. So much that now they are freaking out about RMDs
Posted on 6/21/26 at 8:38 pm to LSUFanHouston
I’m starting to see a lot of 70 year olds that have a lot more money in their IRAs than they ever imagined. So much that now they are freaking out about RMDs
--
Not if Roth IRA
--
Not if Roth IRA
Posted on 6/21/26 at 10:10 pm to ItzMe1972
quote:
I’m starting to see a lot of 70 year olds that have a lot more money in their IRAs than they ever imagined. So much that now they are freaking out about RMDs -- Not if Roth IRA
Most 70 year olds have little in a Roth, unless they have done conversions
Posted on 6/22/26 at 7:30 am to ItzMe1972
I don’t understand the freak out on rmd. On a 1.5 mil portfolio the rmd is around 60k a year. Not sure why 60k a year is freak out worthy.
Posted on 6/22/26 at 8:12 am to tigerbacon
it isn't. From what I see in RMD analysis, it seems it isn't really an issue until you get up around $5MM in traditional IRA/401k accounts before it is a concern.
Page 2 of 4
Popular
Back to top
Follow TigerDroppings for LSU Football News