Posted on 02/14/2015 7:34:46 AM PST by Kaslin
I suggest that people who are approaching retirement age, save as much as possible, then right before retirement, sneak across the border into mexico- denounce your US citizenship- become a Mexican citizen, then a year later sneak back into this country ILLEGALLY for some free education free driver’s licenses, free health care, free welfare to the tune of $45,000 in some cases- free housing, and you’;ll never have to worry about being arrested or deported for anything because federal laws now protect ILLEGAL ALIENS
That’s my retirement plan
how about moving to SE asia?
I keep hearing good things...
Start with your refund check. Open up a retirement account with it, arrange with your HR dept. to to change your withholding, then deposit the increase from your paycheck into the account every payday. On top of contributing the maximum allowed to your IRA at work, especially if your employer contributes to it. You can never have too much money in your retirement years.
Start with your refund check. Open up a retirement account with it, arrange with your HR dept. to to change your withholding, then deposit the increase from your paycheck into the account every payday. On top of contributing the maximum allowed to your IRA at work, especially if your employer contributes to it. You can never have too much money in your retirement years.
Well in my estimation you have already lost money if you are getting a refund check. Better to legally change your withholding numbers and your tax plan to instead of letting the government use YOUR money for free you get a bigger paycheck and take a bit each pay period and put it in a savings plan and then invest it in something better when you get enough for a buy-in on the new investment.
Watch some other stocks rather than your own company’s. If your company tanks, you lose your job and your savings.
bmp for later
Retired after 32 years of teaching with a monthly pension of 3,200. Took early SS at 63 bringing in another 1,500.
And food stamps and a free phone and eitc and basic cable...
Would you like to buy a bunker and some tinfoil?
Good strategy to the next 10 yrs or so..but after that not so much. Better simultaneously go Galt and have a good money making business to accumulate assets for after the SHTF.
Why not, when young, buy a piece of land, and let that accrue equity over the years...as you get it, with cash, put in the septic, well, power.
If nothing else - you could always move a trailer on it to and live independent, needing little for monthly income.
And or, build a house on it or buy a house, rent it out for 25-30 years, let the renters pay the mortgage and retire with a mortgage free home that is also worth much more than you paid for it. And preferably a place where you can have a garden and some laying hens, at least.
Mortgage and food are the two biggest expenses. Retiring without the mortgage and supplying some of your food - is money in the pocket. And you aren’t trusting in banks or gov’t to mind your money.
Look to YOURSELF, not bank/gov’t schemes, for securing your retirement. Your money ALL goes to YOU and is under YOUR control.
You have until September.
I agree, but if you haven’t changed your withholding yet and have gotten a refund, then use it to open a retirement account, add to it with the extra take home you’ll have once you’ve changed your withholding.
Some of the best steps you can take in saving for retirement have nothing to do with a retirement account.
1. Your most valuable asset in retirement will be good health. If you end up in retirement in poor health then all the assets in the world may not do you any good. This is especially if you're forced into early retirement due to an employment situation, and you find yourself not yet eligible for Medicare but under the monstrous burden of ObamaCare insurance mandates. In that case, a large retirement nest egg may actually be more of a liability than an asset.
2. Another important asset that might require considerable investment outside a retirement account is your ability to earn a living even in "retirement." In this regard, laying the groundwork for a second career is critical. It could even start out as a hobby, and it might be a perfect activity for retirement because it won't really be "work" but might earn you a lot of money. Running a small business on the side while you're doing your primary job isn't for everyone, but it might be the best form of retirement savings you can have.
Do like my brother and develop a talent at stock picking, build a fat portfolio, live frugally, and drive a 12 year old Honda Civic that is so scrupulously maintained that it looks new. The youngest in my family may be the first to retire.
Saving for retirement is a good idea regardless. You don’t have to put it in an IRA or 401. You can put it somewhere much more accessible in case the kleptocrats try to seize like they did in Argentina.
Living below one’s means is usually a good thing to do. It’s also better to own assets than have debts.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.