Posted on 03/28/2018 6:52:51 AM PDT by SeekAndFind
4. You’ve pulled the welfare wagon for forty-five years.
4. You’ve pulled the welfare wagon for forty-five years.
...
Paying the bill for the votes Democrats are buying.
Just another tip: whatever amount you THINK you need to retire on, double it. I’m speaking from experience.
To my mind, #3 argues for sticking it out and drawing a paycheck as long as you possibly can....
I’m retiring on Friday. Woo-hoo!
Only a few years left.
Despite the recent wild ride I have enough to retire very comfortably — I could now but I have a specific goal.
After working 40+ years I can use the break.
Note to youngsters: Start saving for retirement YOUR VERY FIRST PAYCHECK. Social Security, if there at all, is subsistence living at best.
I didn’t start saving until I was in my 30s. Had I started when I started working I would have retired years ago in my late 40s or early 50s!
Am I missing something here?
Why assume a "withdrawal rate?" What about investing the $2 million in a diversified portfolio that earns, say, 4% annually? Won't that give you $80,000 without withdrawing any principle at all?
-PJ
I thank the Army regulation that forced me to retire at 62. Seven beautiful years since.
Retired means retired; let someone else climb up to Machu Picchu.
Ah...time for my midmorning nap...my couch beckons...signing off.
;^)
Congrats!!!!!!!!!!!!!!!!!!
I’ve retired early and for me the most important thing, something that these guys never seem to say is buy a house and get it paid for. Do not go into retirement with a mortgage or rent. It is almost always a persons biggest monthly expense. It’s amazing how much less income I need now that I’m not workiing
I retired at 62 and its worked out well for me.
Can’t believe how many of my graduating class have already passed.
Many were the outstanding students and athletes.
>>Why assume a “withdrawal rate?” What about investing the $2 million in a diversified portfolio that earns, say, 4% annually? Won’t that give you $80,000 without withdrawing any principle at all?<<
That is the theory but planning is to draw it down and assume no return. For TSA-type investments you have to take withdrawals anyway.
RE: What about investing the $2 million in a diversified portfolio that earns, say, 4% annually? Won’t that give you $80,000 without withdrawing any principle at all?
As long as you are not going to lose sleep over the huge swings and the ups and downs of the markets ( e.g. the downs of the mortgage crisis ), then have at it.
Most retirees do not have the stomach for this and would prefer steady, predictable income.
I’m in my 70s. I still work a full time job. I don’t know how long I will live, but lots of family members are 20 or more years older than me. My aunt, 16 years older than me, jogs and teaches aerobics. I’d be afraid of running out of money if I retired now.
>>I’ve retired early and for me the most important thing, something that these guys never seem to say is buy a house and get it paid for. Do not go into retirement with a mortgage or rent. It is almost always a persons biggest monthly expense. It’s amazing how much less income I need now that I’m not workiing<<
Great advice. I paid for my house last year and will be going into retirement debt-free.
As should everyone. If you have debt you are not really retired.
If you retire at 62 you pull less from social security. If you don’t need it, this is a good way to help ease the system.
The future is unknown: Out of my last six small office jobs, six coworkers have died in the past 10 years. All were younger than me. Most were 40s, 50s and early 60s. This is the best reason of all to retire early. I'd rather survive on ramen noodles than have no retirement at all.
And yes, that is my plan, too. However, I'm also factoring in some market return to be included, and not just assume a drawdown without additional investment earnings.
Also, there is the benefit of not paying $10,000 into Social Security and Medicare taxes anymore.
-PJ
Woohoo! Congrats! I retired at 58 and have never regretted it.
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