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Posted on 9/19/22 at 2:31 pm to AlumneyeJ93
I am sure I am getting screwed, but I pay almost $2,300 a month for myself and wife (both mid 50s) and 2 college kids for health and dental in La. And it's not great coverage.
If anyone has better alternatives, please call me stupid and share some details. Not theoretical bullshite you read somewhere, but something you can vouch for from experience.
If anyone has better alternatives, please call me stupid and share some details. Not theoretical bullshite you read somewhere, but something you can vouch for from experience.
Posted on 9/19/22 at 2:40 pm to Rex Feral
Try to be sure that you’re going to enjoy what you do replace the work with.
A lot of research in behavioral economics shows that many folks regret retiring even if they’re ok financially. Schlomo Bernazzi’s work is especially interesting.
I am 57 and could retire now, but I enjoy my work and have no plans to ever fully retire.
Instead, I’m thinking about transitioning to four days a wwwk soon in addition to some regular sabbaticals
A lot of research in behavioral economics shows that many folks regret retiring even if they’re ok financially. Schlomo Bernazzi’s work is especially interesting.
I am 57 and could retire now, but I enjoy my work and have no plans to ever fully retire.
Instead, I’m thinking about transitioning to four days a wwwk soon in addition to some regular sabbaticals
Posted on 9/19/22 at 2:42 pm to Rex Feral
quote:
I've purchased some land and intend to have a garden and raise goat and chickens. Maybe hogs. I want to be able to sit down for dinner and know that I grew that food for my family.
When I was younger I always said, "When I retire, I want to own a large farm and a backhoe. Whenever I get bored, I'll just go out and dig a hole or two. Who could be bored if they owned a backhoe?"
Posted on 9/19/22 at 2:53 pm to Rex Feral
I just retired back in August at 45. So far, I've been almost as busy as ever with moving to new house, home improvements and kids. Once thongs settle a bit, I doubt I'll have much difficulty filling the 6.5 hrs kids are in school with workouts, chores and hobbies. I have a military pension so dont plan to tap 401k (TSP) or IRAs until later as long as taxable investments suffice.
Another thing people seem to overlook is zero long term capital gains rate if you dont have over $106k taxable income before standard deduction (married filing joint). Even with a pension, I can pull a lot of investments and pay nothing on the gains. Without a pension it's feasible to pay little or no income tax and manage income to optimize ACA healthcare subsidies.
Another thing people seem to overlook is zero long term capital gains rate if you dont have over $106k taxable income before standard deduction (married filing joint). Even with a pension, I can pull a lot of investments and pay nothing on the gains. Without a pension it's feasible to pay little or no income tax and manage income to optimize ACA healthcare subsidies.
Posted on 9/19/22 at 3:04 pm to Rex Feral
quote:
100% truth to that. My 9 year old told me during the game Saturday that he likes it when I get buzzed because that's the only time I laugh. What do you gain from a career when you lose your family in the process?
If you ever needed a sign there it is.
Posted on 9/19/22 at 3:36 pm to Rex Feral
So your plan is let your wife work?
Posted on 9/19/22 at 3:37 pm to madmaxvol
quote:
"When I retire, I want to own a large farm and a backhoe. Whenever I get bored, I'll just go out and dig a hole or two. Who could be bored if they owned a backhoe?"
I can't tell you how many clients have told me all they want to do is sit in a bobcat and grade land all day.
Posted on 9/19/22 at 3:42 pm to Rex Feral
I take a nap everyday from 2-4 pm. People have commented that I look completely different. That’s life without responsibility and stress.
Posted on 9/19/22 at 3:47 pm to InCaliForNow
quote:
I am 57 and could retire now, but I enjoy my work and have no plans to ever fully retire.
that's me, I could have gone long ago, I actually gave it a trial run at 55, it wasn't for me, with my seniority I've always been able to get whatever time off I needed whenever I wanted to take it so it's not like I'm missing out on anything, unless I have a total change of heart I'll probably work until I die
Posted on 9/19/22 at 4:17 pm to Rex Feral
quote:
I enjoy what I do and I'm good at it, but I don't find any joy in making money.
hang it up.
i love working and i love making money. Seems like you're ready.
quote:
I've purchased some land and intend to have a garden and raise goat and chickens. Maybe hogs. I want to be able to sit down for dinner and know that I grew that food for my family.
lol yeah, you're done. Enjoy, good sir.
This post was edited on 9/19/22 at 4:18 pm
Posted on 9/19/22 at 4:25 pm to Rex Feral
Cut back now if you can. I won't take a job where I work more than 50% of the days anymore. There are plenty out there. Time off is worth so much more to me. I plan to keep a job but I am moving to a field where you can work 2 days a week and still make a livable income.
Posted on 9/19/22 at 5:05 pm to Rex Feral
Retired at 51 after 32 years with SSA. Never looked back.
Posted on 9/19/22 at 5:08 pm to 777Tiger
quote:
unless I have a total change of heart I'll probably work until I die
I'll retire the day after I decide that I can afford it
Posted on 9/19/22 at 5:14 pm to Rex Feral
Sounds like a winner. Not a bad idea to have some money in savings before you hang it up.
Posted on 9/19/22 at 6:39 pm to Rex Feral
I retired at 50 two years ago. FREEDOM is great. Wife and I both grew up poor. I saved as much as I spent. Wife quit work at 30 because daycare was more than she made. I worked to quit and not to live.akways lived below my means and still do.
First million took awhile 42. 2nd mil at 47 3rd mil at 50. I told work bye.
Work out 5 days a week and play golf mostly, fish or hunt 6 days/week.
First million took awhile 42. 2nd mil at 47 3rd mil at 50. I told work bye.
Work out 5 days a week and play golf mostly, fish or hunt 6 days/week.
Posted on 9/19/22 at 6:43 pm to Rex Feral
Also you can get on the government payroll and never have to work again in your life.
Posted on 9/19/22 at 6:45 pm to lowhound
quote:
A man in his 40's with a newborn baby girl will never be able to retire. By the time he's retirement age, she'll be in college or ready to get married. Better save more just for that.
That's me. I am turning 47 and have three kids 7 and under. I do really well and am now full time from home. The only job that was less stressful than my current job was stocking shelves in a grocery store. That being said, I have no issues working into my 60s. Also, my wife works her tail off and does better than me.
Posted on 9/19/22 at 6:53 pm to Rex Feral
The earlier I retire the better. Rather enjoy the things I want to do/travel a lot than work my life away.
If I retire before or around 60, I'll be cool with that. Rather it be 50 though. Good for you.
If I retire before or around 60, I'll be cool with that. Rather it be 50 though. Good for you.
Posted on 9/19/22 at 7:11 pm to TorchtheFlyingTiger
quote:
Those of you saying 401k cant be accessed without penalty pre 59.5, are unaware there are several ways to avoid penalties including:
I didn’t say he couldn’t withdraw until 59.5. I am well aware of the rule allowing it at 55 if you leave your employer. He’s still isn’t eligible for that at 50. I also said make sure you have assets not in 401k (which could mean a Roth, like you recommended). Our posts are consistent, not conflicting.
This post was edited on 9/19/22 at 7:13 pm
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