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Feb 7th, 2025
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 Good article on retirement planning
#8626836
06/23/22 09:03 PM
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Joined: Jul 2013
Posts: 6,522
tlk
OP
THF Trophy Hunter
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OP
THF Trophy Hunter
Joined: Jul 2013
Posts: 6,522 |
Last edited by tlk; 06/23/22 09:40 PM.
You can't fix stupid
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Re: Good article on retirement planning
[Re: tlk]
#8626855
06/23/22 09:53 PM
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Joined: Aug 2021
Posts: 1,114
DukeCigars
Pro Tracker
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Pro Tracker
Joined: Aug 2021
Posts: 1,114 |
And most millennials can’t even spell 401k
Car guy. Serial entrepreneur. Terrible golfer.
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Re: Good article on retirement planning
[Re: tlk]
#8626860
06/23/22 10:10 PM
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Joined: Aug 2009
Posts: 4,047
Texan Til I Die
Extreme Tracker
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Extreme Tracker
Joined: Aug 2009
Posts: 4,047 |
And then along comes Biden to wreck all that planning and saving. Thanks Joe!
Silver spurs and gold tequila
keep me hanging on.
Pretty girls and old cantinas
give me shelter from the storm.
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Re: Good article on retirement planning
[Re: Texan Til I Die]
#8626863
06/23/22 10:17 PM
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Joined: Nov 2017
Posts: 21,227
Biscuit
THF Celebrity
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THF Celebrity
Joined: Nov 2017
Posts: 21,227 |
And then along comes Biden to wreck all that planning and saving. Thanks Joe! That ain’t no joke
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Re: Good article on retirement planning
[Re: tlk]
#8626892
06/23/22 10:41 PM
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Joined: Jul 2013
Posts: 6,522
tlk
OP
THF Trophy Hunter
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OP
THF Trophy Hunter
Joined: Jul 2013
Posts: 6,522 |
I am 69 and did financial planning for 42 years. The reason I posted this article is for the folks on this forum who are still young enough to adjust their savings and spending habits.
As all of us older guys grew up when almost every job had pensions. So even if you were not good at saving money on your own the company you worked for provided you a pension. Those days are GONE.
So as the younger generations age it is a huge shift - no more pensions - they are responsible for their own "pensions" meaning contributing part of their pay checks to the 401k plans, etc. I predict in the next 10-20 years that there will be many who are not even close to having enough saved to have a decent retirement - hope I am wrong
Last edited by tlk; 06/23/22 10:42 PM.
You can't fix stupid
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Re: Good article on retirement planning
[Re: tlk]
#8626897
06/23/22 10:45 PM
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Joined: Oct 2017
Posts: 6,892
angus1956
THF Trophy Hunter
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THF Trophy Hunter
Joined: Oct 2017
Posts: 6,892 |
One must start early and be consistent.
Alot so much to a 401K or whatever you call it and leave it alone.
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Re: Good article on retirement planning
[Re: DukeCigars]
#8626905
06/23/22 10:56 PM
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Joined: Mar 2013
Posts: 5,697
jetdad
THF Trophy Hunter
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THF Trophy Hunter
Joined: Mar 2013
Posts: 5,697 |
And most millennials can’t even spell 401k Well it does have a K in it.
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Re: Good article on retirement planning
[Re: jetdad]
#8626917
06/23/22 11:24 PM
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Joined: Feb 2012
Posts: 9,941
Mickey Moose
THF Trophy Hunter
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THF Trophy Hunter
Joined: Feb 2012
Posts: 9,941 |
And most millennials can’t even spell 401k Well it does have a K in it. K. K as in Ketamine. Check your local regs, it may now be legal for human recreational use in Oregon.
Social Engineering is easy like taking candy from a baby.
- Mickey Moose
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Re: Good article on retirement planning
[Re: tlk]
#8626937
06/23/22 11:55 PM
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Joined: Feb 2008
Posts: 14,463
glens
THF Celebrity
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THF Celebrity
Joined: Feb 2008
Posts: 14,463 |
I am 69 and did financial planning for 42 years. The reason I posted this article is for the folks on this forum who are still young enough to adjust their savings and spending habits.
As all of us older guys grew up when almost every job had pensions. So even if you were not good at saving money on your own the company you worked for provided you a pension. Those days are GONE.
So as the younger generations age it is a huge shift - no more pensions - they are responsible for their own "pensions" meaning contributing part of their pay checks to the 401k plans, etc. I predict in the next 10-20 years that there will be many who are not even close to having enough saved to have a decent retirement - hope I am wrong You in the Market? Or where is your safe Haven?.
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Re: Good article on retirement planning
[Re: glens]
#8626993
06/24/22 01:29 AM
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Joined: Jul 2013
Posts: 6,522
tlk
OP
THF Trophy Hunter
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OP
THF Trophy Hunter
Joined: Jul 2013
Posts: 6,522 |
I am 69 and did financial planning for 42 years. The reason I posted this article is for the folks on this forum who are still young enough to adjust their savings and spending habits.
As all of us older guys grew up when almost every job had pensions. So even if you were not good at saving money on your own the company you worked for provided you a pension. Those days are GONE.
So as the younger generations age it is a huge shift - no more pensions - they are responsible for their own "pensions" meaning contributing part of their pay checks to the 401k plans, etc. I predict in the next 10-20 years that there will be many who are not even close to having enough saved to have a decent retirement - hope I am wrong You in the Market? Or where is your safe Haven?. I am 10% in conservative mutual funds and 90% in fixed and safe - I have a pension for wife and my life along with social security kicking in next year at my age 70 for the maximum amount of payout for both of our lives. So no matter what happens we both have a guaranteed income for both of our lives. In addition to that our 401k (that I contributed to for almost 40 years and my company matched) is all in a fixed guaranteed 3.5% account. I have my other money in some fixed rate annuities paying 3.5 to 5% - no fees and no risk to my principle - as I stated in an earlier post I made the decision years ago to "over save" so that when we reached retirement I did not have to lay awake at night hoping the stock market does not crash. If I continue to earn 3.5 to 5% we are good to go for as long as we both live. Maybe not the route for everybody but it is working for me
Last edited by tlk; 06/24/22 01:35 AM.
You can't fix stupid
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Re: Good article on retirement planning
[Re: tlk]
#8626995
06/24/22 01:35 AM
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Joined: Aug 2009
Posts: 23,608
BigPig
THF Celebrity
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THF Celebrity
Joined: Aug 2009
Posts: 23,608 |
Plan to retire at 65, live like you’re going to retire at 45, everything after that is just icing on the cake.
Wade Dews, REALTOR ® Rendon Realty, LLC Frontline Real Estate Team www.RendonRealty.comWadeDews@gmail.com 214-356-2410 Up to 1% for closing costs for First Responders & Veterans Proudly partnered with Assist The Officer Foundation https://atodallas.org/
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Re: Good article on retirement planning
[Re: tlk]
#8627018
06/24/22 02:06 AM
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Joined: Apr 2013
Posts: 9,877
freerange
THF Trophy Hunter
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THF Trophy Hunter
Joined: Apr 2013
Posts: 9,877 |
Basic, but solid info. I agree with tlk that most young folks wont be prepared.
At some point in life its time to quit chasing the pot of gold and just enjoy the rainbow. FR
Keep your gratitude higher than your expectations. RWH
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Re: Good article on retirement planning
[Re: tlk]
#8627110
06/24/22 04:41 AM
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Joined: Dec 2010
Posts: 8,848
DocHorton
THF Trophy Hunter
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THF Trophy Hunter
Joined: Dec 2010
Posts: 8,848 |
I read an article today that said the average Boomer has $112,000 saved for retirement.
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Re: Good article on retirement planning
[Re: tlk]
#8627238
06/24/22 01:10 PM
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Joined: Mar 2009
Posts: 625
Mister Sir
Tracker
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Tracker
Joined: Mar 2009
Posts: 625 |
Is there a retirement calculator to plug in assets, monthly income, liabilitys, etc? I wont have enough cash to fully retire till who knows when. But is there such a thing as SEMI RETIREMNT?
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Re: Good article on retirement planning
[Re: tlk]
#8627241
06/24/22 01:13 PM
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Joined: Apr 2007
Posts: 63,280
BOBO the Clown
kind of a big deal
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kind of a big deal
Joined: Apr 2007
Posts: 63,280 |
I am 69 and did financial planning for 42 years. The reason I posted this article is for the folks on this forum who are still young enough to adjust their savings and spending habits.
As all of us older guys grew up when almost every job had pensions. So even if you were not good at saving money on your own the company you worked for provided you a pension. Those days are GONE.
So as the younger generations age it is a huge shift - no more pensions - they are responsible for their own "pensions" meaning contributing part of their pay checks to the 401k plans, etc. I predict in the next 10-20 years that there will be many who are not even close to having enough saved to have a decent retirement - hope I am wrong It will be no different then your generation. Those with an education or a specific trade will be fine. Those working at McDonald’s flipping burger or Walmart as greeter… will have a significantly reduced standard of living, because it will we solely based off SS insurance
Far better it is to dare mighty things, to win glorious triumphs, even though checkered by failure, than to take rank with those poor spirits who neither enjoy much nor suffer much, b/c they know not victory nor defeat"- #26 TR
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Re: Good article on retirement planning
[Re: Mister Sir]
#8627257
06/24/22 01:35 PM
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Joined: Apr 2007
Posts: 63,280
BOBO the Clown
kind of a big deal
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kind of a big deal
Joined: Apr 2007
Posts: 63,280 |
Is there a retirement calculator to plug in assets, monthly income, liabilitys, etc? I wont have enough cash to fully retire till who knows when. But is there such a thing as SEMI RETIREMNT? Yes, but none are great. Google As far as semi retired, yes I have two friends semi retired in 40’s. Both are basically working for health care benefits. Both where in high pressure exec jobs and now lazy jobs, pretty sure they exceed vacation allotment every year and take unpaid leave. But short answer it’s common in that 55-65 gap for people to basically work for insurance waiting on Medicare
Far better it is to dare mighty things, to win glorious triumphs, even though checkered by failure, than to take rank with those poor spirits who neither enjoy much nor suffer much, b/c they know not victory nor defeat"- #26 TR
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Re: Good article on retirement planning
[Re: BOBO the Clown]
#8627274
06/24/22 01:57 PM
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Joined: Aug 2009
Posts: 4,047
Texan Til I Die
Extreme Tracker
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Extreme Tracker
Joined: Aug 2009
Posts: 4,047 |
But short answer it’s common in that 55-65 gap for people to basically work for insurance waiting on Medicare
Guilty as charged. Got 2 more years.
Silver spurs and gold tequila
keep me hanging on.
Pretty girls and old cantinas
give me shelter from the storm.
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Re: Good article on retirement planning
[Re: Mister Sir]
#8627296
06/24/22 02:14 PM
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Joined: Dec 2010
Posts: 8,848
DocHorton
THF Trophy Hunter
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THF Trophy Hunter
Joined: Dec 2010
Posts: 8,848 |
Is there a retirement calculator to plug in assets, monthly income, liabilitys, etc? I wont have enough cash to fully retire till who knows when. But is there such a thing as SEMI RETIREMNT? If you have an iPhone, "EZ Financial Calculator" App is a good one.
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Re: Good article on retirement planning
[Re: tlk]
#8627357
06/24/22 03:22 PM
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Joined: Dec 2011
Posts: 14,638
Ramsey
Pepe' Le Pew
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Pepe' Le Pew
Joined: Dec 2011
Posts: 14,638 |
I was a one dimentional person who retired at 52. I have since learned of Treasury Savings Bonds I, and various other equities. I will invest where the market takes us. I have a treasury bond from 2001 that pays the combination of the fixed rate + inflation rate and compounds them semi annually. In 20 years the value has tripled and they are paying double digets as the fixed rate was 6% for 30 years + inflation rate. So They should be gaining interest around 15% right now. Another thing often missed is to get your expenses down. In my opinion this is as important as assets. If you have significvant money get advisement on trusts and step up capital gains skip. example if someone buys a stock at $10 and passes it on to heirs and the stock is at $100. The heir will not have taxes due on capital gains and their new basis is $100. Saving and planning is the way to go.
FKH!!!!
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Re: Good article on retirement planning
[Re: Ramsey]
#8627391
06/24/22 03:53 PM
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Joined: Apr 2007
Posts: 63,280
BOBO the Clown
kind of a big deal
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kind of a big deal
Joined: Apr 2007
Posts: 63,280 |
I was a one dimentional person who retired at 52. I have since learned of Treasury Savings Bonds I, and various other equities. I will invest where the market takes us. I have a treasury bond from 2001 that pays the combination of the fixed rate + inflation rate and compounds them semi annually. In 20 years the value has tripled and they are paying double digets as the fixed rate was 6% for 30 years + inflation rate. So They should be gaining interest around 15% right now. Another thing often missed is to get your expenses down. In my opinion this is as important as assets. If you have significvant money get advisement on trusts and step up capital gains skip. example if someone buys a stock at $10 and passes it on to heirs and the stock is at $100. The heir will not have taxes due on capital gains and their new basis is $100. Saving and planning is the way to go. There are certain life insurance and annuities also that are not only good wealth building tools but also FU liberal estate tax shelters
Far better it is to dare mighty things, to win glorious triumphs, even though checkered by failure, than to take rank with those poor spirits who neither enjoy much nor suffer much, b/c they know not victory nor defeat"- #26 TR
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Re: Good article on retirement planning
[Re: Texan Til I Die]
#8627408
06/24/22 04:03 PM
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Joined: Jun 2015
Posts: 6,765
Jgraider
THF Trophy Hunter
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THF Trophy Hunter
Joined: Jun 2015
Posts: 6,765 |
But short answer it’s common in that 55-65 gap for people to basically work for insurance waiting on Medicare
Guilty as charged. Got 2 more years. Same boat, 3 years to go. I've never trusted anyone to manage my assets/money better than I will.
Last edited by Jgraider; 06/24/22 04:04 PM.
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