Miscellaneous Ramblings About Retirement

ProDarwin said:

And the AngryCorvair prophecy is fulfilled.

I hope your life works as you plan it.  Just realize that it often doesn't 

ProDarwin said:

And the AngryCorvair prophecy is fulfilled.

And once again Frenchy neglects to mention that through all his doom and gloom he did the exact wrong thing financially speaking and pulled out at the worst possible time (understandably due to health issues) but still managed to keep his 5000 sqft house on a lake in a HCOL area, his boat, probably 17 jaguars, and is still living there with all his stuff 11 years later. 

mtn said:

ProDarwin said:

And the AngryCorvair prophecy is fulfilled.

And once again Frenchy neglects to mention that through all his doom and gloom he did the exact wrong thing financially speaking and pulled out at the worst possible time (understandably due to health issues) but still managed to keep his 5000 sqft house on a lake in a HCOL area, his boat, probably 17 jaguars, and is still living there with all his stuff 11 years later. 

Silly little facts that are inconsequential. 

In reply to mtn :

And by his own admission went full in on risky leveraged "investments" (really gambling) and not the diversified long term buy and hold investments that people have recommended here.  

Let’s play it another way. Let’s say Frenchy didn’t save like he did, but otherwise everything else happened like it did. Then he’d have had to sell everything, possibly go bankrupt, and he’s living in a small apartment or with his kids. His story is the exact reason to save for retirement. 

bobzilla said:

mtn said:

ProDarwin said:

And the AngryCorvair prophecy is fulfilled.

And once again Frenchy neglects to mention that through all his doom and gloom he did the exact wrong thing financially speaking and pulled out at the worst possible time (understandably due to health issues) but still managed to keep his 5000 sqft house on a lake in a HCOL area, his boat, probably 17 jaguars, and is still living there with all his stuff 11 years later. 

Silly little facts that are inconsequential. 

This one thing happened to me, so that means that is exactly how it happens to every single person, every single time.

Well, at least it won't be me that ends up killing this thread.  I was getting worried.

mtn said:

ProDarwin said:

And the AngryCorvair prophecy is fulfilled.

And once again Frenchy neglects to mention that through all his doom and gloom he did the exact wrong thing financially speaking and pulled out at the worst possible time (understandably due to health issues) but still managed to keep his 5000 sqft house on a lake in a HCOL area, his boat, probably 17 jaguars, and is still living there with all his stuff 11 years later. 

We all have priorities. When 2008 rolled around I could have sold my house at the first sign of a down turn and possibly received 80% of its then value. 
 Bought a cheap house where I didn't want to live and possibly be a couple of hundred thousand ahead of where I am now. 
 

I couldn't get back here though.  2 doors north of me they are building a house a little larger than mine on a little smaller lot. Not the same construction, a little more modest than most in the neighborhood.  Their buy in is $2,650,000 plus construction over-runs. 
The last lot the owner is asking for $4,000,000 but there is a restriction limiting that lot to a single story. ( and obviously no basement ) I think it's over priced but I thought 2 million for the first lot was overpriced.  

I don't know or particularly care what my home is worth in today's market. When last appraised I've recovered  what I lost in cashing in my retirement to keep it and a significant amount besides. 
 

I'm a few months away from solidly being able to remain here through the rest of my life, however long or short that is.  I'm in good health and may be able to continue to work for 4-6 more years.  
 

Travel is something I've done so much of my whole life that it's a great comfort to remain where I want to be. SWMBO hasn't, so I'll need to do some traveling with her.  But At least where she wants to go I've been there enough to know what to focus on. 
 

I've got my hobby and while much more modest than in the past it will still be enough of a challenge to be rewarding upon completion.  

So your point should be that you're comfortable because you saved for your retirement, even though things went about as poorly as they could have. 

Seriously, what is the point of dredging it up again? You make it sound like there is no point to saving and living conservatively because you can't plan on things happening like you think they're going to, yet because you did that you could raid your retirement accounts instead of going bankrupt caring for your sick wife. Why do you point it out? The only thing you should be saying is "Look at me, I saved, and because of that I am not bankrupt even though things went wrong". Yet what you say is "things don't go like you plan". 

Knowing what you know now, what would you have done differently? Because it sure as hell doesn't sound like you would have saved differently for your retirement. 

dculberson said:

In reply to mtn :

And by his own admission went full in on risky leveraged "investments" (really gambling) and not the diversified long term buy and hold investments that people have recommended here.  

Please get your facts straight.  
I invested Twice. The first time was risky highly leveraged and for a while yielded fantastic.  That all disappeared within hours. 
 

The second time I bought the DOW. That's pretty diversified  and monthly I added to it. Over  almost 3 decades it  returned better than most funds plus no fees!   Well the last 5 years I had modest funds in the NASDAC  too.  Everything went away to meet obligations during the 7 years I was unemployed. 
 

mtn said:

So your point should be that you're comfortable because you saved for your retirement, even though things went about as poorly as they could have. 

 

Seriously, what is the point of dredging it up again? You make it sound like there is no point to saving and living conservatively because you can't plan on things happening like you think they're going to, yet because you did that you could raid your retirement accounts instead of going bankrupt caring for your sick wife. Why do you point it out? The only thing you should be saying is "Look at me, I saved, and because of that I am not bankrupt even though things went wrong". Yet what you say is "things don't go like you plan". 

 

Knowing what you know now, what would you have done differently? Because it sure as hell doesn't sound like you would have saved differently for your retirement. 

My point is as I said repeatedly. Plan for the future, hope for the best, Never give up.  
My plans didn't work out.  Life happens. 
At the bus company we have drivers as old as 80 still working.  ( we used to have one 84 but he failed his physical ) 

Or as you've heard since a child. 
Don't count your chickens before they hatch.  

I'll redirect this back to the "invest early, invest often".  It's harder when you are young with less income, but I really wish I had started saving a bit earlier.  I am "only" 40, but I can already see how much farther ahead I could have been if I was saving more agressively in my 20s.  

I think I still have a shot at semi-retiring at 50 though.  I wish it were a sure thing, but nothing in life is.

In reply to (not) WilD (Matt) :

That's fair but one other thing to consider.  In life there are opportunities.  I can't tell you where yours are, nor can anyone else.  
Me? I bought a junky old house, tore it down and built something that I wanted.  Your's might be a Ferrari in a barn.  Or a treasure map?  Maybe a friendship that yields great rewards. Maybe a rare coin you find in a box at a swap meet.  

Just please don't make your life about a sacrifice for money.  Find the thing that brings you satisfaction, Joy. 
 

I've met too many hollow people with impressive net worth. Some who display it for all to see and those who save and save.  
 

frenchyd said:

In reply to (not) WilD (Matt) :

That's fair but one other thing to consider.  In life there are opportunities.  I can't tell you where yours are, nor can anyone else.  
Me? I bought a junky old house, tore it down and built something that I wanted.  Your's might be a Ferrari in a barn.  Or a treasure map?  Maybe a friendship that yields great rewards. Maybe a rare coin you find in a box at a swap meet.  

Just please don't make your life about a sacrifice for money.  Find the thing that brings you satisfaction, Joy. 
 

I've met too many hollow people with impressive net worth. Some who display it for all to see and those who save and save.  
 

 

For some people money brings joy. 

I know money brings me joy, because money allows me to do the things I enjoy when I'm not at work earning said money.

As they say “money doesn’t buy happiness but poverty sucks”.

I make a very good living, live far below my means, and put the surplus almost entirely into index funds.

I’m 55 and any conventional financial advisor would tell me that I don’t need to save any more for retirement but that’s assuming I don’t retire until 62ish. I want to eliminate the stress of knowing I have to produce more Aaaa.S.A.P!!!

On Jan. 20, 2020, I’ll be the same age my brother was when he died suddenly and I’ve got two daughters that are 11 and 14…I want to not matter Aaaa.S.A.P.!!!

I believe everyone who has posted here has valid input on the topic (even Frenchy ... of whom I appreciate all of his posts).