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Retirement

284winner said:
With an itinerary like that, either your pension is incredible, your 401 is busting at the vault door, you married a bank or your Jeff Bezo's. In any case, all those take $$$ and while I do many of them, I can't do them all. I didn't add or subtract any of what I did while I worked but I do them all about the same. If I did them alot more often, I would need another job.
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I've been IN, Mutual Funds and CEF's, since I was 31 Yrs old ( Now 74 ) Owned a couple of Businesses ( self employed, since 1971 ) owned some " good" Real Estate. Death and Divorce by 2 wives, "Got me", a couple of Times in my life ( Bankrupt & Poor,.. TWICE ! ),.. been trying to avoid that, "chit", ever since !
Now "Live" on, SS and, "can" spend those Monthly Dividends,.. IF, I "want" to. Mostly, just letting it, "Snowball" for, the Kids / Grand kids as, I live / spend, modestly. PS; most of that, "itinerary" doesn't cost that, much to do, when you live, close to IT, like I do. Good, Fishing, Hunting, Camping Target, Varmint, shooting, is all within, a Hundred Miles or,.. less ! OH, and my Parents were from, the Greatest Generation ( lived thru, the Depression and were "Savers" ) and they, left me "some", too ! God,.. HAS Blessed, me !
 
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JimT said:
Less than 4% of people wait till 70 to claim. You can imagine the demographic we are talking about. Probably good health and intelligent. Most likely vaccinated against COVID by now to make sure their bet pays off.
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More like still working and earning a living wage. As far as intelligent. I know and have known many in that category. They don't know how big is a 2x4, need electric start lawn mowers, don't know what is a spark plug, don't know anything but what was their life's work, and overthink everything including when to take social security.
Looking at the stats, half of the white male population won't make it to 78.5 years, roughly the break even point. Having said that, the boomers have been known to think they'll live forever.
 
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JimT said:
Less than 4% of people wait till 70 to claim. You can imagine the demographic we are talking about. Probably good health and intelligent. Most likely vaccinated against COVID by now to make sure their bet pays off.
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Isn’t it also true the majority file at 62? I’m past that and haven’t filed -
 
I looked at selling out and retiring this past year but when I sat down and crunched the numbers I just don’t think I’m where I want to be. I’m not counting on any social security, if it’s there when I call it quits I’ll consider it a bonus. I’m 54 now and don’t plan on working past 60. I’ve built four VA outpatient clinics that all have 20 year leases with the VA (Government). The buildings should be paid off 11-13 years into the lease. Im 4 years away from the first building being liquid and the others are a right behind it, if government isn’t broke by then that will be a good source of income. I’ve always lived debt free, invested in real estate mostly and I enjoy working but I’m starting to burn out. Been self employed since age 23. I look forward to retirement, grandkids are coming. I’d love to spend more time with them and our seven children. I don’t think I’ll ever fully retire though, I could see myself owning a business, something I enjoy doing that isn’t too demanding. I thank God everyday for my blessings, it’s hasnt always been easy but I am happy with journey.

I’m just glad Alex isn’t retiring, I read that title and was alarmed.
 
hoz53 said:
The only reason I didn’t take it at 62 was you have to pay it back after you earn a small amount (to me) each year.
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You may want to double check that. The numbers changed.

There was a time (not long ago) where if you retired and worked for every $2 over $12,000 you made $1.00 was deducted from your monthly check. You don't have to be financially inclined to see this was crazy. This is now gone. Earn as much as you like and you will still get your full SS check. You will also continue to pay into SS.
As I have told anyone who asks" Call Social Security, make an appointment, and that person will tell YOU exactly what you'll get". They will offer no financial advice as to what you should do but they tell you your benefits. That's the ONLY way to get an answer that's correct.
 
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Forum Boss said:
I will be 66 in October. So-called "full SS" benefit for birth year 1955 supposedly is 66 plus 2 months. Right now that is my target.

The real question is whether to stay in CA given the corrupt scoundrels in charge, high cost of living, and exorbitant taxes.
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You have to have some really compelling positive reasons that outweigh those significant negative ones!!
 
Forum Boss said:
I will be 66 in October. So-called "full SS" benefit for birth year 1955 supposedly is 66 plus 2 months. Right now that is my target.

The real question is whether to stay in CA given the corrupt scoundrels in charge, high cost of living, and exorbitant taxes.
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Granted other places to live are NOT perfect but if I lived in CA I'd leave there walking, broke as a convict, and nowhere in mind to finally lodge.
 
I’m 58 and trying to pick a year for retirement. I am fortunate to have a job I enjoy with a great salary and benefits along with five weeks of vacation. In my line of work, oil and gas production, I’m sure I could retire and go right to work as a consultant but I don’t think I really want to.

That is why I’m planning on starting a business catering to the shooting sports after I retire. I’ve owned a few businesses in the past and I miss it.

Dave
 
Five weeks of vacation?…. Man that could be a life-changing trip to South America or Northern Europe (I have never been to Sweden, Norway, or Finland). I have worked on this site all but two days in 2021, typically 10 hours a day. Last actual vacation was two weeks in 2016.
 
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