Posted on 07/18/2018 7:45:57 AM PDT by C19fan
my wife and I are both 58, financial guy says we can retire at 62, if wheels dont blow off the economy,. Both of us figure to find part time jobs doing “something we like”,
whatever that may be
we dont play golf, and you have to keep moving...,
FWIW - What I have my parents is doing is moving majority of their savings/retirement $ to 30 diversified dividend stocks, all with long histories of dividend increasing, from a wide variety of sectors, currently yielding about 4%. This is basically the equivalent of an annuity without the risk your annuity provider goes bankrupt in a downturn. And if the stocks go down 40% for a couple years, you’re still getting your 4% dividend income on today’s investment - and even if a couple firms cut their div it’s the equiv of 3.7-3.9% today. These stocks collectively have a lower beta too, and should outperform in a downturn. Motif investments allows you to buy/sell 30 stocks at once for $10 so its pretty economical way to do it, too.
So ultimately I may look to retire earlier, like at age 60 when my kid should be out of college, and start a new job in a totally different and less lucrative but more enjoyable field. Like selling hardware or something (a job I actually had as a teenager and loved).
I have been an advocate of that for years. I once worked in a business that paid about 60% of your earnings in an annual bonus. There were a few years where I maxed out my SS deductions at the end of March.
I am not someone who enjoys paying any kind of tax. But the FICA cap always left me scratching my head.
I would turn and up my IRA and savings contributions.
Those were the days....
Yep.
The current life expectancy for an American male is somewhere between 76 and 78 years old. The current age at which you can collect full SS is at 67.5 years old, or about 10 years. And guess what? Unlike a pension, or a 401(k) when you die the government keeps your SS despite paying in for 40 to 50 years.
So yeah, moving up retirement much later will, or shouldn't be, popular. Even as a youngster I was upset when Reagan moved SS to 67.5 years of age.
Agreed.
Annuities always seem like an anchor around the neck of the investor.
I would rather see people who are less risk averse go into bond funds, treasuries, or high dividend stocks.
I had an aunt that work for ATT for 47 years. She bought stock every pay period. She NEVER cashed a dividend check—but she also never reinvested them.
She ended up with a couple of hundred grand in divested companies. She could have had several million just by reinvesting her dividends.
It is a shame how little financial education people get in their lives.
And so are heard the voices of millions who cried out in terror and were suddenly silenced.
Your experience is far from uncommon.
know what you mean, I think of retirement every day. couple ski buds have already made the jump, they are about my age., but they are gov (now ex)employees with pensions.
I have a pension with my company because I’ve been here forever and even though they killed it five years ago, us old timers still will get it, albeit it isn’t growing anymore. But I cannot get a straight answer out of them how much it will be. I’ve seen number small enough that it would pay for groceries each month to others that are enough to cover most of our daily expenses for the year. I can’t figure out why I can’t get a good answer on this but I assume that if the compnay can figure out a way to settle in on the tiny one, that’s what I’ll be getting. So I assume that.
No.
Thanks to the dems and obama.
Mr. mm issemi-retired and we’re busier now than we’ve ever been.
If you can hold out till 66 yoa, you'll get approximately 25% more per month.
But, if you do decide to cache out early, the break even point is 81 yoa or thereabouts. After that point you (and your survivor) will be drawing down less than what you could have drawn, had you waited. (I presume you already know this.)
The millennials, even if the SS system is still around when they retire, will have substantially reduced benefits, because it is a function of their career earnings.
Debt is a two party plan. They are very good at it. Just as now they put trillions onto the Millennials and the next generation after that. The cycle continues on and on. Just as the trade policies of the gop and dems affect them today.
Except for the surviving spouse....can swop for the deceased partner social security payment if it is larger.
everything is a crapshoot. guess thats life. In my mind, I keep hearing Tom Petty’s song “there aint no easy way out”
heh. we hope for the best, and do what we can. good luck to you
It always works that way.
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