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Started By
Message
re: My Parents Retired at the Age I Will Turn Next Year...
Posted on 11/7/24 at 6:44 am to PurpleandGold Motown
Posted on 11/7/24 at 6:44 am to PurpleandGold Motown
quote:
Never forget what they took from us!
Who?
0
Posted on 11/7/24 at 6:46 am to PurpleandGold Motown
My BIL just retired from the water-works dept with 33 years of service, he's going to make 100% of his salary and health insurance paid till he dies, He's only 55.
But he's already bored and ready to find something else to do.
But he's already bored and ready to find something else to do.
Posted on 11/7/24 at 6:53 am to PurpleandGold Motown
That's not exactly uncommon. In Louisiana, for example, teachers don't pay into Social Security, so there is a forced retirement taken out every month. This is where the pension comes from, in theory.
Posted on 11/7/24 at 6:55 am to PurpleandGold Motown
quote:
Seriously, it's wild to think that my parents retired from their first careers with forever healthcare and an 80% pension at 43 and 44 years old.
To be fair, those are EXTREMELY young ages to retire. Especially with those benefits.
They are definitely not the norm.
This post was edited on 11/7/24 at 6:56 am
Posted on 11/7/24 at 6:55 am to PurpleandGold Motown
quote:
Between the two of them they get about 10k a month guaranteed in retirement. They've been drawing longer than they worked as of a few years ago.
And we wonder why public pension funds have a hilarious amount of issues. That is just not sustainable.
Posted on 11/7/24 at 7:01 am to PurpleandGold Motown
quote:
at 43 and 44 years old.
how the frick can you retire in your early 40s?
Posted on 11/7/24 at 7:01 am to Jcorye1
quote:
That is just not sustainable.
Public retirement systems are basically Ponzi schemes. I work for the State and what I pay into retirement now is paying for people already retired. Same will be true once I am retired.
Posted on 11/7/24 at 7:04 am to PurpleandGold Motown
Few questions.
When did you start contributing to retirement? How much of your income did you contribute?
How much debt did you get in to along the way?
You said 30 years ago. If you were diligent with your money for 30 years you could have retired too.
When did you start contributing to retirement? How much of your income did you contribute?
How much debt did you get in to along the way?
You said 30 years ago. If you were diligent with your money for 30 years you could have retired too.
Posted on 11/7/24 at 7:06 am to PurpleandGold Motown
I was gonna post a doomer rant but now we got trump
Posted on 11/7/24 at 7:09 am to CHEDBALLZ
quote:
But he's already bored and ready to find something else to do
My attitude has changed significantly as I have gotten closer to being able to retire.
I have always said that retirement is the dream. However, it is the stability/option to retire is the goal. It is a dollar amount, not an age in my mind.
What I have seen through friends retiring is that you need one or even two hobbies to retire happily. Golf, tennis, fishing, hunting, volunteering, etc.
Looking like I will reach my number in my early 60’s. 2-3 days per week at the camp. A trip or two. However, I see myself continuing to work a few days per week. Just to keep the brain busy.
Who knows, this may all change again. Interesting thread.
Posted on 11/7/24 at 7:12 am to waiting4saturday
quote:
how the frick can you retire in your early 40s?
Tax money, welfare, entitlements, and government assurances,
Posted on 11/7/24 at 7:12 am to Screaming Viking
I can’t wait to retire. I’d retire today if I could. I don’t want to work ever again. I’ll find hobbies and things to do. frick this
Posted on 11/7/24 at 7:18 am to biglego
quote:
I can’t wait to retire.
most people start to have significant health problem around the time they retire so you can't really enjoy it then either.
Posted on 11/7/24 at 7:19 am to PurpleandGold Motown
My mom taught school for about 30 years and retired kind of young and drew a nice retirement.
Dad and his brother had their own business, both worked until they died.
Dad and his brother had their own business, both worked until they died.
Posted on 11/7/24 at 7:26 am to PurpleandGold Motown
How can educators be 43/44 years old with 25 years of experience? Did they not go to school?
Posted on 11/7/24 at 7:26 am to PurpleandGold Motown
Yeah. We used to do that in Mississippi. You could retire at 20 years. Head coach at Madison Central retired at 42, moved to coach at a high school in Alabama and drew full pension at same time
Posted on 11/7/24 at 7:28 am to PurpleandGold Motown
I retired happily at 59 and never held another job. Cheers to the stock market!
Posted on 11/7/24 at 7:28 am to PurpleandGold Motown
quote:
They've been drawing longer than they worked as of a few years ago.
So we're over taxed.
Posted on 11/7/24 at 7:32 am to LB84
quote:
So we're over taxed.
In certain states, state jobs are the best with that 80% of maximum salary for life.
Posted on 11/7/24 at 7:34 am to biglego
I think most people don’t hate working it’s just that the government has made it pointless
People on food stamps have nicer cars, the same stuff in their house, can buy whatever groceries they want, all while not having to give up 2/3s of their life to work
Most Americans would be happy with working til they die and barely getting by if people who didn’t work had dirt floors and no tvs
Reminds me of another economic system where some people have nice stuff and don’t work while others have to go out and work all day for their benefit
People on food stamps have nicer cars, the same stuff in their house, can buy whatever groceries they want, all while not having to give up 2/3s of their life to work
Most Americans would be happy with working til they die and barely getting by if people who didn’t work had dirt floors and no tvs
Reminds me of another economic system where some people have nice stuff and don’t work while others have to go out and work all day for their benefit
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