(Topic ID: 286379)

Retirement! Hacks, tips and insights to get there faster.

By DadofTwins

3 years ago


Topic Heartbeat

Topic Stats

  • 1,168 posts
  • 176 Pinsiders participating
  • Latest reply 11 days ago by arcyallen
  • Topic is favorited by 140 Pinsiders

You

Topic poll

“At what age do you plan on retiring?”

  • 45-55 107 votes
    30%
  • 56-65 185 votes
    52%
  • 65 and over..... 61 votes
    17%

(353 votes)

Topic Gallery

View topic image gallery

PXL_20240920_161551788.MP (resized).jpg
IMG_6508 (resized).jpeg
IMG_6341.gif
Screenshot 2023-11-21 at 4.22.38?PM (resized).png
pasted_image (resized).png
4450 weeks1 (resized).png
beach house (resized).JPG
house (resized).JPG
Screenshot_20230709-192240_Chrome (resized).jpg
20230627_184053 (resized).jpg
4466FF27-043B-4F7E-9819-F7994C92EF67 (resized).png
Screen Shot 2021-11-21 at 8.32.29 AM (resized).png
IfYouCan.pdf (PDF preview)
B1B366D2-0D07-4A7B-A657-40B5715C2713 (resized).jpeg
giphy.gif
31B3CF0D-2D58-4C40-B74C-F88E00AE2FCD (resized).jpeg
There are 1,168 posts in this topic. You are on page 22 of 24.
#1051 3 months ago
Quoted from pinzrfun:

My younger brother made his money in real estate, but he said the best investment he ever made was a 100 unit storage facility. No plumbing, no heat or a/c to deal with, no tenants tearing anything up, and lots of people pay in cash. And he's sold thousands of dollars worth of stuff from people that just abandoned their units. My snowblower croaked 2 years ago, he says "I have 3, come get one".

My parents had the opposite experience with storage units. I'm sure it depends on location etc. They only had a 20 unit location. They were not able to break even and eventually sold it. Every time my dad had to clean out a unit it was 99% throw away crap. I think about 30% of people never paid after initial deposit.

#1052 88 days ago
Quoted from NPO:

ROTH IRA or ROTH TSP ...?
I ask as everything I have read since "no touchie touchie" for the ROTH TSP until 59.5 years old...that includes your contributions.
Anyone got clarification from an official "in writing" source somewhere that says we can pull contributions whenever we want from our federal ROTH TSP?

I'm talking about a Roth IRA. I'm not familiar with the current rules for TSPs, but I'm assuming you can't make in-service rollovers. That's pretty rare with employer-sponsored retirement plans. And yes, TSPs and IRAs are treated differently regarding withdrawals. Once you leave employment you can roll them into a Roth IRA and the Roth IRA rules generally apply (with exceptions).

#1053 88 days ago

For those with experience doing a backdoor Roth IRA, I'm wondering how quickly you can move money from the traditional IRA, once money is there, into the Roth IRA. Can you do it immediately (same day) or do you need to wait a day, week, longer? I think the idea is to avoid earnings in the traditional IRA due to tax consequences, but I'm not even sure on that.

#1054 88 days ago
Quoted from mostater:

I think the idea is to avoid earnings in the traditional IRA due to tax consequences, but I'm not even sure on that.

Not sure I understand the question but ‘avoid earning in the traditional IRA’ doesn’t make sense because it’s all taxed the same. I mean the income is treated the same as the contribution there’s no difference unless you also have a non deductible IRA.

One thing that’s sticky is that when you convert a non deductible IRA.

‘ If you have a nondeductible IRA, you can convert it into Roth IRA. You won't have to pay tax on your contributions to the account, but the account's earnings will be taxable at the time of the conversion.’

This is not what you are talking about the the earnings on a non taxable IRa will be taxed when you convert. And there are other factors to consider with non deductible IRAs.

‘ If You Have Both Nondeductible and Deductible IRAs
If you have both types of traditional IRA, making a conversion is more complicated. Unfortunately, you can't simply convert your nondeductible IRAs. Instead, you must treat all of your IRAs (of both types) as if they were one IRA. Then you must prorate the amount of money you convert based on the proportion of nondeductible versus deductible funds in your total IRA’
IMG_6508 (resized).jpegIMG_6508 (resized).jpeg

#1055 87 days ago
Quoted from mostater:

For those with experience doing a backdoor Roth IRA, I'm wondering how quickly you can move money from the traditional IRA, once money is there, into the Roth IRA. Can you do it immediately (same day) or do you need to wait a day, week, longer? I think the idea is to avoid earnings in the traditional IRA due to tax consequences, but I'm not even sure on that.

It has been a few years since I did it, but I believe there was no required waiting period. I think I did the conversion somewhere between 2 weeks to 2 months after.

To rai’s point, I made sure it was into a new account, and not mingled with other trad. Ira contributions (that would have gains), because any gains would be attributed to a conversion. I forget how gains and losses in the account are allocated, but it isn’t last in first out.

#1056 86 days ago
Quoted from pinzrfun:

Paid off the mortgage a couple weeks ago.

Quoted from pinzrfun:

Feels good to see the plan coming together.

Turning 59 in a couple of months, first pension (military) starts. We paid off our mortgage a couple of years ago - yes, not a good "investment" as it was only 3.24% interest rate, but what a feeling. Doing projects around the house (Garage expansion, rebuilt deck with composite, lake deck, roof replacement, etc.) pay as we go with the anticipation of being "done" with major planned expenditures by age 62. Military pension will just go into investments. Agree on the seeing the plan come together - could retire now but like paying someone else to do a lot of the major work around the house, so I can just putter with the shop/pinballs and basic maintenance.

BTW, the wife likes her job and will probably keep working after I retire for a while at least (she is two years younger). Anyone with experience with that? How has it worked out?

#1057 86 days ago
Quoted from mostater:

For those with experience doing a backdoor Roth IRA, I'm wondering how quickly you can move money from the traditional IRA, once money is there, into the Roth IRA. Can you do it immediately (same day) or do you need to wait a day, week, longer? I think the idea is to avoid earnings in the traditional IRA due to tax consequences, but I'm not even sure on that.

Do it ASAP. Check the TIRA account everyday and when you see it clear move it to Roth right away. You don’t want any interest generated on the money while in TIRA or it messes up your form 8608 filing.

#1058 86 days ago
Quoted from ReadyPO:

Turning 59 in a couple of months, first pension (military) starts. We paid off our mortgage a couple of years ago - yes, not a good "investment" as it was only 3.24% interest rate, but what a feeling. Doing projects around the house (Garage expansion, rebuilt deck with composite, lake deck, roof replacement, etc.) pay as we go with the anticipation of being "done" with major planned expenditures by age 62. Military pension will just go into investments. Agree on the seeing the plan come together - could retire now but like paying someone else to do a lot of the major work around the house, so I can just putter with the shop/pinballs and basic maintenance.
BTW, the wife likes her job and will probably keep working after I retire for a while at least (she is two years younger). Anyone with experience with that? How has it worked out?

ANG or Reserves....? I ask as active duty pensions start the month you retire.

I've never, ever heard anyone complain about the feeling of having the mortgage paid off. If I had a .01% mortgage, I'd still pay it off ASAP. I don't think you made a mistake at all!

#1059 86 days ago
Quoted from NPO:ANG or Reserves....? I ask as active duty pensions start the month you retire.

Army NG M-day (drilling not full time) for most of my service, though a total of 5 years active, and some reserve time. Pension for M-day starts at 60 minus countable time in the sandbox. I only retired two years ago so not long for to wait for me, about 37 years total.

#1060 86 days ago
Quoted from ReadyPO:

BTW, the wife likes her job and will probably keep working after I retire for a while at least (she is two years younger). Anyone with experience with that? How has it worked out?

SO retired about 6 years ago. The deal we made at the time was that she would take care of running the household and everything else while I continued to work. So she took over the stuff that was sort of “my responsibility”, yard work, setting up house/car maintenance, bills etc. All the little stuff that you need to deal with to get through daily life. I don’t miss any of that stuff and I like getting to the weekend and not having to spend it “running errands” etc. I’m trying to convince her that Pinball maintenance is included in those responsibilities but it’s a tough sell lol. To her credit though she’s actually taken some of that on and fixed a few games. I can tell that she’s not particularly into it though. The truth is that she’s way better at fixing stuff, she has a much broader technical background and mind than I do.

She does feel somewhat guilty sometimes when she gets to read a book some mornings while I have to log on or go somewhere, so however you work it out, you have to make sure you’re both REALLY okay with whatever arrangement you make and you should revisit it and communicate as you go on to make sure that you both continue to feel good about it. The other thing you will have to keep in mind is that she’s still working, so you’re going to have to find your own things to do while she is. She’s not going to be able to entertain you or go along with you to do things during the day.

#1061 86 days ago

well here for the final 4 days. pretty strange feeling.

somehow cant see much being done this week.

#1062 86 days ago
Quoted from SergioJ:

so however you work it out, you have to make sure you’re both REALLY okay with whatever arrangement you make and you should revisit it and communicate as you go on to make sure that you both continue to feel good about it.

100%. So many couples get into money trouble because of lack of communication. My wife and I have never, ever fought about money. She spends what I consider dumb money on games for her phone. I spend what she must at times feel is dumb money on pin stuff. But we have an agreement and know how the other feels and what they expect. We communicate 100% about all of it.

Quoted from illawarra92:

well here for the final 4 days. pretty strange feeling.

somehow cant see much being done this week.

No, knock it out of the park. Make them miss you. If they're great, it'll make them say "Holy shit, what a great employee we just lost!" Seriously, you won't regret it. And if they're horrible to work for - then they'll just regret your departure even more.

#1063 85 days ago
Quoted from SergioJ:

SO retired about 6 years ago. The deal we made at the time was that she would take care of running the household and everything else while I continued to work. So she took over the stuff that was sort of “my responsibility”, yard work, setting up house/car maintenance, bills etc. All the little stuff that you need to deal with to get through daily life. I don’t miss any of that stuff and I like getting to the weekend and not having to spend it “running errands” etc. I’m trying to convince her that Pinball maintenance is included in those responsibilities but it’s a tough sell lol. To her credit though she’s actually taken some of that on and fixed a few games. I can tell that she’s not particularly into it though. The truth is that she’s way better at fixing stuff, she has a much broader technical background and mind than I do.
She does feel somewhat guilty sometimes when she gets to read a book some mornings while I have to log on or go somewhere, so however you work it out, you have to make sure you’re both REALLY okay with whatever arrangement you make and you should revisit it and communicate as you go on to make sure that you both continue to feel good about it. The other thing you will have to keep in mind is that she’s still working, so you’re going to have to find your own things to do while she is. She’s not going to be able to entertain you or go along with you to do things during the day.

My gf retired a year and a half ago, she doesnt do the lawn work or anything but it's still nice coming home to a full fridge, dinner and laundry done, etc.. My ex wasnt home during the day so all of that fell to weekends or after work - just having a few things off your plate is nice. She basically gets things done before I get off work to spend time w me. I live 8 min from my work - we were thinking of moving to another place she likes, about an hour drive, but she decided no, that's MY time w you. You arent spending it in a car.

#1064 84 days ago
Quoted from bruinfan:

It has been a few years since I did it, but I believe there was no required waiting period. I think I did the conversion somewhere between 2 weeks to 2 months after.
To rai’s point, I made sure it was into a new account, and not mingled with other trad. Ira contributions (that would have gains), because any gains would be attributed to a conversion. I forget how gains and losses in the account are allocated, but it isn’t last in first out.

Can’t just open a new IRA account to avoid pro-rata. If you have an existing IRA with pre-tax contributions you’re in for some paperwork every year.

As for timing, Vanguard lets me do it the next day. There is some fractional interest earned, but nothing reportable.

#1065 84 days ago
Quoted from NPO:

ROTH IRA or ROTH TSP ...?
I ask as everything I have read since "no touchie touchie" for the ROTH TSP until 59.5 years old...that includes your contributions.
Anyone got clarification from an official "in writing" source somewhere that says we can pull contributions whenever we want from our federal ROTH TSP?

You cannot pull your contributions from your ROTH TSP, that only applies to ROTH IRAs (don’t know about Roth 401k cause I don’t have a 401k).

There are in-service withdrawals and TSP loans available if you really need the cash. I have been considering a primary residence loan if we decide to get a new house. I hate having a portion of my money out of the market, but the terms are pretty good.

1 month later
43
#1066 47 days ago

My 100-day countdown to retirement starts on Sunday. I accepted a generous voluntary separation package, but I have to wait 6 weeks for full approval. Already planning my first monthlong road trip out west.

38 years of corporate service finally coming to an end. I was planning to wait 18 more months, when I turn 62, but this unexpected gift was too good to ignore.

#1067 47 days ago

Congrats, don’t look back

#1068 46 days ago
Quoted from swampfire:

My 100-day countdown to retirement starts on Sunday. I accepted a generous voluntary separation package, but I have to wait 6 weeks for full approval. Already planning my first monthlong road trip out west.
38 years of corporate service finally coming to an end. I was planning to wait 18 more months, when I turn 62, but this unexpected gift was too good to ignore.

thats great! Congrats!

#1069 46 days ago
Quoted from swampfire:

My 100-day countdown to retirement starts on Sunday. I accepted a generous voluntary separation package, but I have to wait 6 weeks for full approval. Already planning my first monthlong road trip out west.
38 years of corporate service finally coming to an end. I was planning to wait 18 more months, when I turn 62, but this unexpected gift was too good to ignore.

Congratulations!

#1070 46 days ago
Quoted from swampfire:

My 100-day countdown to retirement starts on Sunday. I accepted a generous voluntary separation package, but I have to wait 6 weeks for full approval. Already planning my first monthlong road trip out west.
38 years of corporate service finally coming to an end. I was planning to wait 18 more months, when I turn 62, but this unexpected gift was too good to ignore.

If you come out west (SF Bay), come visit us at The Flipper Room.

1 week later
#1071 39 days ago

From a retirement investment preceptive what are your thoughts on putting an entire 401k into a low cost S&P 500 index fund? Sounds like Warren Buffet is all for it. I did this nearly 10 years ago and it's been working out well so far.

Target date funds have decent returns but the returns on the index funds have been much better. During market downturns the index fund will go down but so will the target date funds. Maybe with 5 years left until retirement a target date fund would be the way to go just from a risk factor.

https://www.cnbc.com/2017/05/12/warren-buffett-says-index-funds-make-the-best-retirement-sense-practically-all-the-time.html

#1072 39 days ago
Quoted from PanzerFreak:

From a retirement investment preceptive what are your thoughts on putting an entire 401k into a low cost S&P 500 index fund? Sounds like Warren Buffet is all for it. I did this nearly 10 years ago and it's been working out well so far.
Target date funds have decent returns but the returns on the index funds have been much better. During market downturns the index fund will go down but so will the target date funds. Maybe with 5 years left until retirement a target date fund would be the way to go just from a risk factor.
https://www.cnbc.com/2017/05/12/warren-buffett-says-index-funds-make-the-best-retirement-sense-practically-all-the-time.html

My 401k is 100% S&P500. Time wins the race.

#1073 39 days ago

An S&P 500 index fund is a good bet. But as you move closer to retirement, you might want to move some of that money into less risky investments. That last thing you want nearing retirement is a big market dip to take a huge chunk of your savings.

#1074 39 days ago
Quoted from hypnotoad:

An S&P 500 index fund is a good bet. But as you move closer to retirement, you might want to move some of that money into less risky investments. That last thing you want nearing retirement is a big market dip to take a huge chunk of your savings.

Not anymore. You do that, you’ll lose money via inflation.

#1075 39 days ago
Quoted from Methos:

Not anymore. You do that, you’ll lose money via inflation.

I have about half of my accounts in buffered offerings. I'm retired, it seems to be a nice option to reduce risk, but there is a cap on the upside.

#1076 39 days ago
Quoted from SantaEatsCheese:

My 401k is 100% S&P500. Time wins the race.

Quoted from hypnotoad:

An S&P 500 index fund is a good bet. But as you move closer to retirement, you might want to move some of that money into less risky investments. That last thing you want nearing retirement is a big market dip to take a huge chunk of your savings.

Thanks. I still have 15 - 20 years left until retirement so will just leave all of my 401k in the index fund and keep adding.

#1077 39 days ago
Quoted from mbwalker:

I have about half of my accounts in buffered offerings. I'm retired, it seems to be a nice option to reduce risk, but there is a cap on the upside.

I have about half of that. Not saying to totally leave fixed income, but the old mantra of the majority out of the market is long gone. It’s easy when t bills are paying 5%, it’ll be a bit more difficult when rates decrease.

#1078 39 days ago
Quoted from PanzerFreak:

From a retirement investment preceptive what are your thoughts on putting an entire 401k into a low cost S&P 500 index fund? Sounds like Warren Buffet is all for it. I did this nearly 10 years ago and it's been working out well so far.
Target date funds have decent returns but the returns on the index funds have been much better.

Financially it will very likely do great over the next 15-20 years. But you need to have the stomach to handle it, and I can tell you from experience most people do not. They think they do, but a lot of those same people have never watched their investments slowly drop by half over a couple of years. I can't stress enough - make sure you have an allocation that you can emotionally handle when the bad times come. For most people that involves having some bond exposure to level it out. Having all your money in stocks, and then selling after a big drop will destroy your plan. To quote the financial guru Mike Tyson: “Everybody has a plan until they get punched in the face”

Quoted from Methos:

Not anymore. You do that, you’ll lose money via inflation.

What do you mean by that?

#1079 38 days ago

Speaking for those that follow a more traditional approach, there is nothing wrong with being conservative. It's just a choice. You have the most risk while you are earning and able to tolerate the losses. When you are ready to retire and no longer making steady income, you will need the money to live on and would take less risk to avoid losses.

I don' think of it as lottery money, I think of it as my money that has benefited from delayed gratification and steady market growth. When I'm ready to slow down, I want less chances of losing it.

#1080 38 days ago

Any thoughts on living arrangements in retirement?

We've looked at 55+ communities, but downsizing from a home to an apartment might be unsatisfying (even with the luxury amenities).
Not sure if want to live with family in a multi generational home.
Rural is appealing, but to far from medical facilities.
Stay in suburbia ... meh...

My current mood is towards a 55+ villa.

#1081 38 days ago
Quoted from Tiki_Mike:

Any thoughts on living arrangements in retirement?
We've looked at 55+ communities, but downsizing from a home to an apartment might be unsatisfying (even with the luxury amenities).
Not sure if want to live with family in a multi generational home.
Rural is appealing, but to far from medical facilities.
Stay in suburbia ... meh...
My current mood is towards a 55+ villa.

Depends on what part of the country you want to be in.

#1082 38 days ago
Quoted from Tiki_Mike:

Any thoughts on living arrangements in retirement?
We've looked at 55+ communities, but downsizing from a home to an apartment might be unsatisfying (even with the luxury amenities).
Not sure if want to live with family in a multi generational home.
Rural is appealing, but to far from medical facilities.
Stay in suburbia ... meh...
My current mood is towards a 55+ villa.

When you mention 'rural', how far removed from a city are you talking about? We're rural, but only ~8 miles removed from a mid sized city limits and ~8 miles the opposite direction from a smaller city, but both have hospitals. I prefer to visit the smaller city (no traffic) and it's hard to beat out the view out our windows being in the country.

#1083 38 days ago
Quoted from mbwalker:

When you mention 'rural', how far removed from a city are you talking about? We're rural, but only ~8 miles removed from a mid sized city limits and ~8 miles the opposite direction from a smaller city, but both have hospitals. I prefer to visit the smaller city (no traffic) and it's hard to beat out the view out our windows being in the country.

That's what we had until the grand children came along and we "had to be closer". I figure that in a few years once they start regular school, it will be easier to make the transition into what will be our final move.

#1084 38 days ago
Quoted from Tiki_Mike:

Any thoughts on living arrangements in retirement?
We've looked at 55+ communities, but downsizing from a home to an apartment might be unsatisfying (even with the luxury amenities).
Not sure if want to live with family in a multi generational home.
Rural is appealing, but to far from medical facilities.
Stay in suburbia ... meh...
My current mood is towards a 55+ villa.

There are lots of options for the 55+ communities. It all depends what you want to do after you retire. We “downsized” from a 2000 sq ft home in a residential neighborhood to a 2500 sq ft home with a swimming pool in a 55+ LOL. Community has 7 golf courses, 4 rec centers, bowling alley, and more activities and things to do that you could ever get to. Liking it a lot so far after one year.

#1085 38 days ago

I’ve gradually reduced my allocation as I got closer to retirement, currently at 30% VOO (S&P) and the rest T-bills. Next year (first year of retirement), I’ll gradually start adding until I’m back up to 50-60% in 2026. I could be wrong (I often am), but I don’t think 2025 will be the barn-burner that 2024 was.

I had some money in a target date fund last year, and it did terrible due to its heavy bond allocation. Look at Vanguard’s BND (total bond market) fund - down 8.21% over 10 years! I know bonds will eventually beat cash, so I’ll start increasing that allocation too. But could bonds suck for another 10 years?

#1086 38 days ago
Quoted from xsvtoys:

There are lots of options for the 55+ communities. It all depends what you want to do after you retire. We “downsized” from a 2000 sq ft home in a residential neighborhood to a 2500 sq ft home with a swimming pool in a 55+ LOL. Community has 7 golf courses, 4 rec centers, bowling alley, and more activities and things to do that you could ever get to. Liking it a lot so far after one year.

If you don't mind me asking, HOA (or whatever they're called) fees?

#1087 38 days ago
Quoted from mbwalker:

If you don't mind me asking, HOA (or whatever they're called) fees?

540 each resident, per year.

#1088 38 days ago
Quoted from xsvtoys:

540 each resident, per year.

That's not bad, but I imagine it's a large community.

We're in a small townhouse community, not 55+, and our HOA is 175/month.

#1089 38 days ago

<

#1090 38 days ago
Quoted from poppapin:

That's not bad, but I imagine it's a large community.
We're in a small townhouse community, not 55+, and our HOA is 175/month.

Its about 27,000 total. Well, at least from around Late October through late May. During the summer about 70% of the population flees elsewhere, because let's face it, AZ is ridiculously hot in the summer. But if you don't mind the heat, its a great time of year with all the snowbirds gone.

There is a bit of a late hot streak going right now, the high today is hitting about 115F. Over the summer we had 113 consecutive 100+ days. If those numbers scare you, this is not the place you want to go. We generally consider anything under 110F to be decent golf weather. Above that is a bit on the hot side, but still doesn't stop us.

#1091 38 days ago

We'll probably head down to The Villages in Orlando in a few years, or at least snowbird it. The fees are only 190 per month and it has everything you can ask for. The construction is mindblowing as they are starting to take in Gen Xers and they are flocking down there in droves.

#1092 38 days ago
Quoted from Methos:

We'll probably head down to The Villages in Orlando in a few years, or at least snowbird it. The fees are only 190 per month and it has everything you can ask for. The construction is mindblowing as they are starting to take in Gen Xers and they are flocking down there in droves.

Any chance you are going to rent for a short time to see what it's like before making a commitment?

#1093 38 days ago

Don't rush retirement. Just celebrated 10 years and couldn't tell you where the time went.

#1094 38 days ago
Quoted from phil-lee:

Don't rush retirement. Just celebrated 10 years and couldn't tell you where the time went.

I can verify that. Time flies when you no longer have to set an alarm clock, sit in traffic, and deal with crap that you don't want to deal with.

#1095 38 days ago
Quoted from JohnnyPinball007:

I can verify that. Time flies when you no longer have to set an alarm clock, sit in traffic, and deal with crap that you don't want to deal with.

Ditto, at ~ 4 years in. Busy all the time, but when people ask what I've been up to, it's hard to answer for some reason.

#1096 38 days ago
Quoted from mbwalker:

Ditto, at ~ 4 years in. Busy all the time, but when people ask what I've been up to, it's hard to answer for some reason.

Just over 2 years since I've had to be up at 4am or 5am, and I stay busy.

Sometimes busy actually doing something, and sometimes just busy having an afternoon nap.

But no longer sitting in traffic, and that's the best part.

When I go to the grocery store, I try to go around 11am. No lines, no traffic, stress free!

#1097 38 days ago

Being in my mid-30s, this isn't the type of thread that would even be on my radar, but I saw it come up and it's also been something I've been actively thinking about recently. Mostly, I've been trying to rationalize the point of retirement. I feel like living life at 2/10s for 30-40 years just so you can spend your last 15-30 years finally enjoying life seems a bit counter productive. Not to mention, your health is essentially on the decline by the time you reach 40, and by the time most people reach their 60s they're already on a cocktail of medications, lacking the energy to do most things they used to do regularly, and also have a plethora of new health problems to deal with until they finally die.

Then there's the reality of retirement, aka most people finding ways to fill their time 99% of the time, while the other 1% is spent going on those dream vacations, or doing something genuinely fulfilling like spending time with your family. Most retired people I've met typically consider a trip to Costco or falling asleep in front of the nightly news as the highlight of their day. Some even started working again, albeit part time, just to fill their lives with something productive or meaningful.

I'm not trying to criticize or shit on people who are retired or want to retire someday, but I simply do not understand the point of retiring. I get someday maybe being too old to work, but most people cash out well before then. I guess, life seems more worth living doing the things you want to while you're still young, energetic, and relatively healthy, rather than waiting to do them when you're best years are behind you. Maybe I'm thinking about this all entirely wrong, but I guess I'd welcome someone changing my mind about this and point out something I'm missing.

#1098 38 days ago
Quoted from Wiggles:

Being in my mid-30s, this isn't the type of thread that would even be on my radar, but I saw it come up and it's also been something I've been actively thinking about recently. Mostly, I've been trying to rationalize the point of retirement. I feel like living life at 2/10s for 30-40 years just so you can spend your last 15-30 years finally enjoying life seems a bit counter productive. Not to mention, your health is essentially on the decline by the time you reach 40, and by the time most people reach their 60s they're already on a cocktail of medications, lacking the energy to do most things they used to do regularly, and also have a plethora of new health problems to deal with until they finally die.
Then there's the reality of retirement, aka most people finding ways to fill their time 99% of the time, while the other 1% is spent going on those dream vacations, or doing something genuinely fulfilling like spending time with your family. Most retired people I've met typically consider a trip to Costco or falling asleep in front of the nightly news as the highlight of their day. Some even started working again, albeit part time, just to fill their lives with something productive or meaningful.
I'm not trying to criticize or shit on people who are retired or want to retire someday, but I simply do not understand the point of retiring. I get someday maybe being too old to work, but most people cash out well before then. I guess, life seems more worth living doing the things you want to while you're still young, energetic, and relatively healthy, rather than waiting to do them when you're best years are behind you. Maybe I'm thinking about this all entirely wrong, but I guess I'd welcome someone changing my mind about this and point out something I'm missing.

Some truth there.

Some people noted that a big perk of retirement is not being stuck in traffic.

For me, I look forward to retiring just so I don’t have to deal with all the BS of work. Its the traffic, the office, the pointless meetings, the management. I have my own BS to deal with in life, I am tired of carrying work’s on top.

Maybe that is why some people never retire, because they love what they do and don’t consider the BS. Maybe the perks of their job outweigh the BS.

I know staying busy is important for retirement. Sitting around is not healthy. Maybe a healthy hobby, that offsets living expenses or generates income.

Another thing to consider is being healthy benefits retirement health care costs later in life. Never too late to start saving health points.

#1099 37 days ago
Quoted from Wiggles:

Being in my mid-30s, this isn't the type of thread that would even be on my radar, but I saw it come up and it's also been something I've been actively thinking about recently. Mostly, I've been trying to rationalize the point of retirement. I feel like living life at 2/10s for 30-40 years just so you can spend your last 15-30 years finally enjoying life seems a bit counter productive. Not to mention, your health is essentially on the decline by the time you reach 40, and by the time most people reach their 60s they're already on a cocktail of medications, lacking the energy to do most things they used to do regularly, and also have a plethora of new health problems to deal with until they finally die.
Then there's the reality of retirement, aka most people finding ways to fill their time 99% of the time, while the other 1% is spent going on those dream vacations, or doing something genuinely fulfilling like spending time with your family. Most retired people I've met typically consider a trip to Costco or falling asleep in front of the nightly news as the highlight of their day. Some even started working again, albeit part time, just to fill their lives with something productive or meaningful.
I'm not trying to criticize or shit on people who are retired or want to retire someday, but I simply do not understand the point of retiring. I get someday maybe being too old to work, but most people cash out well before then. I guess, life seems more worth living doing the things you want to while you're still young, energetic, and relatively healthy, rather than waiting to do them when you're best years are behind you. Maybe I'm thinking about this all entirely wrong, but I guess I'd welcome someone changing my mind about this and point out something I'm missing.

Lots of people never retire, but I think what it comes down to is doing what ultimately makes you happy. If you love your job and think there is nothing better, by all means keep doing it. If you don’t like your job because of whatever reasons, life is short, get out and retire when you can. No matter what, you have to occupy your time doing what you love, whether it’s a hobby, traveling, spending more time with family, etc. That said and in relation to this thread, you still have to plan your financial future at an early age so that you don’t yourself stuck.

#1100 37 days ago
Quoted from Wiggles:

Being in my mid-30s, this isn't the type of thread that would even be on my radar, but I saw it come up and it's also been something I've been actively thinking about recently....
I'm not trying to criticize or shit on people who are retired or want to retire someday, but I simply do not understand the point of retiring. I get someday maybe being too old to work, but most people cash out well before then.

I'm 53. I think its a matter of experience and perspective. As you go through life, things change for you physically, mentally and financially. There is simply no way to predcit the future or what your desires will be at that time. Some are drawn to plan and some are not.

We are all different. In my mid 30's, I had 4 young children and was just beginning by professional life after a decade of training. At that point, I used structure to aquire the things I desired for my family and pay down accumilated debts. Even then, my wife and I began retirement savings.

I have said before that I enjoy my work and don't plan to retire unless circumstances force it (the clock always wins), but I am now finanacially able to handle an unplanned disaster without being destitiute. Thats is the result of structured planning.

There are 1,168 posts in this topic. You are on page 22 of 24.

Reply

Wanna join the discussion? Please sign in to reply to this topic.

Hey there! Welcome to Pinside!

Donate to Pinside

Great to see you're enjoying Pinside! Did you know Pinside is able to run without any 3rd-party banners or ads, thanks to the support from our visitors? Please consider a donation to Pinside and get anext to your username to show for it! Or better yet, subscribe to Pinside+!


This page was printed from and we tried optimising it for printing. Some page elements may have been deliberately hidden.

Scan the QR code on the left to jump to the URL this document was printed from.