Knoxville, TN
Am I the only one who thinks the $212,000 isn't enough to really do some fun stuff with over the next 20-30 years? Need another "0".
Gotta say though, I've not laughed this much reading a thread in a long time. Love it!
(Topic ID: 211498)
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Quoted from DCFAN:To avoid higher taxes, I don't think you want to withdraw all the money from the IRA in the same year.
Maybe it's a ROTH 
Quoted from o-din:Say your house is paid off and likewise your truck and child support. And the kid is well on her way to making her own fortune. Social security and your part time job are covering all your bills with some leftover.
That IRA account you have been so diligently socking money away in can soon be raided with no penalty. What to buy with the money?
I would pay to watch this until the money ran out. I'd die broke but happy...
Quoted from zr11990:Invest in AR-15s and ammo along with ready to eat meals then when the shit goes down you will be the richest man in town.
What if the "shit" never goes down?
Quoted from zr11990:Invest in AR-15s and ammo along with ready to eat meals then when the shit goes down you will be the richest man in town.
Hell yea brother that's what I am talking about.
Quoted from Astropin:What if the "shit" never goes down?
Yo got a stockpile of ammo bought when the price of ammo is going up not a bad position to be in.
I got it! Cryogenic feeeze your body when you die in the desert of Arizona. $200,000 gets you in the club. Pinball in 100 years, wgo doesn't want to see that, or longer?
https://www.nbcnews.com/tech/innovation/company-will-freeze-your-dead-body-200-000-n562551
Quoted from Ericpinballfan:I got it! Cryogenic feeeze your body when you die in the desert of Arizona. $200,000 gets you in the club. Pinball in 100 years, wgo doesn't want to see that, or longer?
https://www.nbcnews.com/tech/innovation/company-will-freeze-your-dead-body-200-000-n562551
Or just freeze the head, should be cheaper ...
Quoted from fosaisu:Or just freeze the head, should be cheaper ...
Sure...I mean if they can repair your crappy old body they can certainly clone you a new one. Or maybe you can pick an entirely new one from the current catalog?
On a serious note: if you've got any debt, pay that shit down. Your best return is _not_ paying interest (especially credit card interest).
After that, throw a decent party for your next round-number birthday, and Liver Fund the rest.
Quoted from Astropin:What if the "shit" never goes down?
When you die your kids are annoyed when they get to sorting our your estate.
"There is one way to take the prop tax with me depending on which county, but you can't beat the easy life here 15 minutes from Disneyland."
My wife would be seriously jealous, Disneyland is truly her favorite place on earth. In fact she is headed to So Cal Sat to visit her daughter, son in law, and grandson --- and to use her season pass to Disney.
Quoted from EricHadley:$212,000 won't last very long in retirement, need like 3 million to retire comfortably
3,000,000?
That will net you well over 100 grand a year without ever touching the principle.
And that does not include SS income or a pension.
I think a lot of people can get by on a million plus SS. Or even less if a pension is included.
Or if you're o-din...far less.
Quoted from Astropin:3,000,000?
That will net you well over 100 grand a year without ever touching the principle.
And that does not include SS income or a pension.
I think a lot of people can get by on a million plus SS. Or even less if a pension is included.
Or if you're o-din...far less.
Correct, $3M is the goal. $5M would be better. Don't forget you need to be able to ride out a bad year too.......Some years you will net nothing and see your balance drop.
Prague
Buy a nice property in Eastern Europe. Maybe Prague. You could hang out here..... http://www.joystickbar.cz/
I am truly disappointed that "Invest in the "Gameseum" that is sure to be opening soon in PA, was not an option.
Sorry had to go there!
Set up an annual donation to Make-A-Wish or Give Kids the World, spread the comfort with kids who won't get the chance to be at your stage in life.
After looking at my latest statement and talking to my investment adviser, it seems I should have taken his advice and sold off all that Blockbuster and Pocket Fisherman stock a long time ago.
So now the only question seems to be what to do with the remaining $2,120?
ebay.com link: VINTAGE SINGING BIG MOUTH BILLY BASS MOTION ACTIVATED 1999 GEMMY B14
You can get 53 Billy Big mouth Bass's!
Quoted from o-din:So now the only question seems to be what to do with the remaining $2,120?
This thread may suddenly be relevant (if you're willing to accept DMDs into your home, of course):
https://pinside.com/pinball/forum/topic/whats-the-best-dmd-era-game-under-2000
Quoted from fosaisu:if you're willing to accept DMDs into your home, of course
That's part of the reason I have very little of an IRA left.
I'll somehow get by though. I always have. 
Quoted from EricHadley:Correct, $3M is the goal. $5M would be better.
Well of course more is better. Just commenting that most people (even "most pinsiders") aren't going to have 3+ million in retirement (although I'm sure some will). And Pinsiders are not the average population income wise.
At the level your planning on you can live a pretty nice retirement involving no work and still have 3-5 million to pass down when you're gone.
My kids can make their own retirement nest, so I'm not too concerned with eventually chewing into the principle. If things get really bad I'll go drive a boat at Disney
Quoted from o-din:After looking at my latest statement and talking to my investment adviser, it seems I should have taken his advice and sold off all that Blockbuster and Pocket Fisherman stock a long time ago.
So now the only question seems to be what to do with the remaining $2,120?
You could buy a nice refrigerator.
Quoted from Astropin:If things get really bad I'll go drive a boat at Disney
My plan is to drive that train.
My old man always told me I should become an engineer, and if I become cash strapped in retirement that may just happen.
I'm not worried about it though. If I can live comfortably on the $400 a week I earn now, social security will actually boost my standard of living.
Quoted from o-din:If I can live comfortably on the $400 a week I earn now
That is (honestly) impressive. $400 a week wouldn't cover my credit card bill (yes, paid off monthly...I never pay interest if I can help it).
Quoted from o-din:Well, the house was paid off 15 years ago, and my daughter is getting straight 'A's in college and already has a decent paying job. My part time job already covers all my bills with money left over.
I just turned 56 so I am 6 years away from being able to collect social security and three years away from IRA withdrawals with no penalty. Now if I hadn't already raided the IRA account some when I got into this hobby, I'd really be farting thru velvet soon.
So, not hypothetical. Congrats, man!
Quoted from o-din:Nah. Those high taxes are only for the immigrants and other new arrivals around here. My property tax is $1k a year.
You're welcome.
Do the math.
$1000 year for property tax.
$2500 year aprox for utilities and directv.
$1500 year for auto and homeowners insurance.
----------------------------------------------------
$5000 out of $22,000 and the rest for me! You don't pay much income tax if you don't make much money.
Quoted from o-din:So now the only question seems to be what to do with the remaining $2,120?
I’ll have to revise my calculations.
54 bottles of Jack!
rd
Quoted from TheLaw:Sheeeet homie no wonder you'd never move!
If it wasn't for Prop 13 I'd probably be back living at the beach working as hard as I used to. The neighbors in the same house pay probably 8 grand a year. It makes it so you want to stay put.
So you make the best of it and plant avocado trees everywhere and fill your house and garage with pinball machines and find the easiest, closest to home job you can. Not the most conventional way of thinking but it works for me.
Quoted from o-din:Do the math.
$1000 year for property tax.
$2000 year aprox for utilities and directv.
$1500 year for auto and homeowners insurance.
----------------------------------------------------
$4500 out of $22,000 and the rest for me! You don't pay much income tax if you don't make much money.
What about Pinside donations?
Quoted from o-din:If it wasn't for Prop 13 I'd probably be back living at the beach working as hard as I used to. The neighbors in the same house pay probably 8 grand a year. It makes it so you want to stay put.
We're on the other end of this. Neighbors who bought in the 70's bought their houses for, essentially, what we pay over two years in property taxes.
There has been extensive research on both the positives and negatives of Prop 13, so I won't re-litigate the issue here. What I will say is that nobody forced me to live where I live (ha...mistakenly typed "love" here; this is accurate) and I bought knowing full-well what all the costs, benefits and downsides were.
I'm grateful that we have dynamic neighborhood comprised of families from various generations. Going forward, I do see the housing issue as being a major obstacle to equity, inclusion and economic growth for the region. This was a trending topic on Twitter yesterday:
BUT for now, California is booming as evidenced by things like:
https://la.curbed.com/2017/7/13/15966156/los-angeles-crane-count-construction-development
and
http://www.sacbee.com/news/politics-government/capitol-alert/article161472333.html
Just so this isn't too deep/heavy,
Quoted from o-din:So you make the best of it and plant avocado trees everywhere
I'm having issues with my two avocado trees. I can't seem to get the watering right. Sigh.
Quoted from o-din:If I can live comfortably on the $400 a week I earn now, social security will actually boost my standard of living.
I'd be happy to provide at least one meal a month for access to your games! And, not even crappy fast food.
I think retirement planning is on a case by case basis. Everyone is a little different in what their lifestyle and expenses are and what they think they need/want in retirement.
I think the best thing about having money is not worrying about money. If frees your energy and time a bit. I try to be intentional about cultivating passive sources of income through business investments, the stock market, real estate, etc... Neither my wife or I came from money, and have always lived below our means.
My goal is to be able to retire and not have to think about money...within reason.
Quoted from Rockytop:What about Pinside donations?
Like I said, I do still have a job that supports me comfortably and enough pride where I don't ask for handouts. I have never started a go fund me either.
However, if you insist, PM me and I will give you my paypal address.
Quoted from zh2oson:I'd be happy to provide at least one meal a month for access to your games! And, not even crappy fast food.
That will work too!
Quoted from zh2oson:I'm having issues with my two avocado trees. I can't seem to get the watering right. Sigh
ODIN has no problem with his .. he pisses on them every night!
No bull!
rd
Quoted from LTG:You could buy 3,533 of those Banger Jay dolls.
LTG : )
Or one Break Shot. You still got that thing?
Quoted from o-din:Like I said, I do still have a job that supports me comfortably and enough pride where I don't ask for handouts. I have never started a go fund me either.
However, if you insist, PM me and I will give you my paypal address.
haha, nice. I was referring to donating to Pinside, the website, you know...turning that grey heart red.
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