Is Retirement age Monetary or Age based?

Discussion in 'College Basketball Board' started by lurkeraspect84, Feb 29, 2020.

  1. lurkeraspect84

    lurkeraspect84 Well-Known Member
    Expand Collapse

    Joined:
    Mar 4, 2014
    Messages:
    23,124
    Likes Received:
    18,780
    It's 100% Monetary for me. I can't wait to stop everything, move to the country and live off the land. Solar panels, garden, tankless water heater, etc.

    I have a number in mind, but also have doubt on if it's enough. Returns seems to be the key.

    I'll probably always have a few trucks/cars/etc to sell but **** the waking up and heading to a place of employment.
     
    Sound.Slave, WildcatDJ and Big_Blue79 like this.
  2. Cat_Incognito

    Cat_Incognito Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Dec 17, 2017
    Messages:
    2,138
    Likes Received:
    4,716
  3. lurkeraspect84

    lurkeraspect84 Well-Known Member
    Expand Collapse

    Joined:
    Mar 4, 2014
    Messages:
    23,124
    Likes Received:
    18,780
    I don't need to be rich. I'm ok with being a poor. I just want my wife and I to live our last years together....together. I want as many of those years as possible.

    We have a good amount, but I'm curious if it's enough. We've got to the point we can have postive cashflow by not working after all bills are paid, but it's such a huge step.
     
  4. GE Nole

    GE Nole Well-Known Member
    Expand Collapse

    Joined:
    Sep 12, 2005
    Messages:
    36,529
    Likes Received:
    18,720
    If have the means to do it, it’s based on money. If you don’t, it’s based on when you die.
     
    treyforuk likes this.
  5. Hank_

    Hank_ Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Mar 31, 2017
    Messages:
    1,593
    Likes Received:
    2,214
    Retirement is antiquated for millennials on.

    Unless you make yourself wealthy enough to build a large, passive income portfolio, inflation and lack of wage growth is going to actively crush those hopes and dreams.

    Most of us are going to be working until we die.
     
  6. toonces11

    toonces11 Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Mar 3, 2010
    Messages:
    9,502
    Likes Received:
    8,784
    With the overhead that I somehow manage to spend, 55 is the earliest. But by then, you’ll be making max money so you’d rather work and be flush imo.
     
  7. lurkeraspect84

    lurkeraspect84 Well-Known Member
    Expand Collapse

    Joined:
    Mar 4, 2014
    Messages:
    23,124
    Likes Received:
    18,780
    I f'n hate that line of thinking from your last sentence. 60-70 hrs a week for 30 years takes a toll. Living like a poor during those years takes a toll. I've been so scared of being dirt poor again, I save everything an live dirt poor.
     
    Hank_ likes this.
  8. lurkeraspect84

    lurkeraspect84 Well-Known Member
    Expand Collapse

    Joined:
    Mar 4, 2014
    Messages:
    23,124
    Likes Received:
    18,780
    I just have to accept, I'm not going to stop working. To much fear and doubt.

    We have a healthy savings. No idea on how long we live. We get a good return. No idea if that will last.
     
  9. toonces11

    toonces11 Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Mar 3, 2010
    Messages:
    9,502
    Likes Received:
    8,784
    I’ve taken a different approach from my parents. I live for the now. Travel, work, some extra luxuries. My dad died at 36 when I was three. My son and I are identical ages and I can’t imagine how it would be if this was the only time we had got together. I squeeze as much ‘living life’ out of most days as a human can.
     
  10. lurkeraspect84

    lurkeraspect84 Well-Known Member
    Expand Collapse

    Joined:
    Mar 4, 2014
    Messages:
    23,124
    Likes Received:
    18,780
    I wished I had kids. I think my entire mindset would change.

    Every single thing I gather will end up at some charity. I'm too spooked of being poor, I don't enjoy the money I make. I'm sure I could afford to go anywhere in the world, Can't think of a place that is worth the money.

    I just want to stop working and have my wife do the same. She's 100% down with retiring. She's 39. I'm 44.

    I think when we move to Knoxville, we're going to really consider it. I'll give up cell phones. *snicker*,all the nonsense of modern luxuries, and just eat and work the land. I'll give up UK basketball. Start reading boxscores in the paper again.

    Been there done that with so much nonsense with the streaming and video games and constant ads on the internet. Bah humbug.
     
    10 lurkeraspect84, Feb 29, 2020
    Last edited: Feb 29, 2020
    toonces11 likes this.
  11. GE Nole

    GE Nole Well-Known Member
    Expand Collapse

    Joined:
    Sep 12, 2005
    Messages:
    36,529
    Likes Received:
    18,720
    Ehh. It’s not THAT hard to save enough and/or have some passive income that allows you to have $50-60k a year. It certainly takes some discipline and wherewithal, but it should be doable for at least 50-60% of people.
     
    Hank_ and lurkeraspect84 like this.
  12. Hank_

    Hank_ Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Mar 31, 2017
    Messages:
    1,593
    Likes Received:
    2,214
    All true, my man.

    But, saving and having funds that can bail you out in emergencies are always great for peace of mind.

    Having the fear of not having will always make you protect yourself and your family.

    We celebrate the “hustle” in this country. Dudes bragging about working 80 - 100 weeks like it’s a badge of honor, instead of what it truly is. It’s mostly bullshit, but it’s productive bullshit that gets ingrained in our mentality towards work and money.
     
    lurkeraspect84 likes this.
  13. lurkeraspect84

    lurkeraspect84 Well-Known Member
    Expand Collapse

    Joined:
    Mar 4, 2014
    Messages:
    23,124
    Likes Received:
    18,780
    The wife works as many hours as I do. She logged 94 hours last week. 86 the week before and 68 the week before. She used to get salery, but now she' paid by the hour, 30/hr/ time and a half for over 40,double for over 60. I service her every time she ask.

    We're not living in Memphis for the fun of it. We're Kentuckians trying to make as much money as we can.....to go back to Kentucky.

    It's all an end game.
     
    Big_Blue79, AWilli6995 and Hank_ like this.
  14. Hank_

    Hank_ Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Mar 31, 2017
    Messages:
    1,593
    Likes Received:
    2,214

    It’s not THAT hard, but for most of America, it is. I would estimate it closer to 70%+ by 2040. Most Americans are financially illiterate, don’t have access to capital, and depend on computer algos to structure their no fee mutual funds appropriately.

    Combine that with ever creeping cost of living inflation - especially on the healthcare/education side-, as well as stagnant wage growth, and you’re looking at a constantly widening divide between have and have nots.
     
    lurkeraspect84 likes this.
  15. uncfan in ky

    uncfan in ky Well-Known Member
    Expand Collapse

    Joined:
    Oct 23, 2008
    Messages:
    6,177
    Likes Received:
    3,381
    There’s no way I could go back to punching a time clock. The idea of having to be at work at a certain time every day is mind numbing.
    One of my best friends works an afternoon shift from 3:00 till 11:00 Monday- Friday. There’s no way in hell I could that day after day after day.
    I think God that my older brother talked me into starting my own business, taught me how to train dogs, got my foot in the door with some clients & eventually retired from the Illinois State Police & joined me.
    I’m doing something that I love, I work with animals, I’m my own boss, make an above average living & I set my own hours.
     
    Cat_Incognito likes this.
  16. Hank_

    Hank_ Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Mar 31, 2017
    Messages:
    1,593
    Likes Received:
    2,214
    I feel that. I grew up in ex coal country where young people had no choice but to leave at 18.

    I didn’t go far, Lexington is a big, small town. Big enough for me, but I never wanted to live in a metro/urban area, just not my style.

    It probably limited me financially, but I think I’m happier for it.
     
    lurkeraspect84 likes this.
  17. lurkeraspect84

    lurkeraspect84 Well-Known Member
    Expand Collapse

    Joined:
    Mar 4, 2014
    Messages:
    23,124
    Likes Received:
    18,780
    I left my hometown Kentucky and moved to Columbus OH at age 20. Small '86 nova, with my ironing board sticking out the back window during a f'n blizzard. True story. I had nothing. I think I had about 500 bucks and no debt.

    proceeded to set sales records at Norse Chevrolet, Toyota, Cadillac. I give all the credit to "hillbilly wisdom". I pretended to be too stupid to actually make money off them. 21 year old Kentuckian can get away with a lot of ignorance.

    bought my uncle's dealership at 25, sold it at 27. Just messed around with sales since then. I love selling cars/trucks, wtf ever. It's fun to **** with some and help others.

    I have 3 box trucks for sell right now. Swore I'd never buy another the last ones but here I am.
     
    17 lurkeraspect84, Feb 29, 2020
    Last edited: Feb 29, 2020
    uncfan in ky likes this.
  18. AWilli6995

    AWilli6995 Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Jan 21, 2005
    Messages:
    7,136
    Likes Received:
    3,106
    Location:
    Greensboro, NC
    I’m from a small town in NC, joined the Navy the day after I graduated HS, got stationed in San Diego and retired at 38. Took about 6 months off and I loved it, took the postal exam and left San Diego after 27 years to move back to NC. Retiring from the Navy wasn’t my plan but kids/marriage have a habit in dictating to you what to do. I’m about 2 years from retiring from the PO and I can’t wait. I feel like I have my ducks in a row when it comes to money and bills so I’m not worried . I do know I’m going to have manage my time because I’m going to have a lot of it.
     
  19. Afamu

    Afamu Well-Known Member
    Expand Collapse

    Joined:
    Feb 9, 2017
    Messages:
    2,025
    Likes Received:
    571
    Not surprised you are uneducated.
     
  20. AWilli6995

    AWilli6995 Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Jan 21, 2005
    Messages:
    7,136
    Likes Received:
    3,106
    Location:
    Greensboro, NC

    Pot meet kettle SmokinSmile
     
  21. uncfan in ky

    uncfan in ky Well-Known Member
    Expand Collapse

    Joined:
    Oct 23, 2008
    Messages:
    6,177
    Likes Received:
    3,381
    I never knew you were in the military. Thank you for your service.
     
  22. Bert Higginbotha

    Bert Higginbotha Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Jan 9, 2003
    Messages:
    21,291
    Likes Received:
    6,001
    Location:
    Smiths Grove, Kentucky
    Monetary based for me.

    When I could, I did.
     
    AWilli6995 and lurkeraspect84 like this.
  23. lurkeraspect84

    lurkeraspect84 Well-Known Member
    Expand Collapse

    Joined:
    Mar 4, 2014
    Messages:
    23,124
    Likes Received:
    18,780
    How old were you when you retired?
     
  24. Afamu

    Afamu Well-Known Member
    Expand Collapse

    Joined:
    Feb 9, 2017
    Messages:
    2,025
    Likes Received:
    571
    My Masters says hello.
     
    Random UK Fan likes this.
  25. Afamu

    Afamu Well-Known Member
    Expand Collapse

    Joined:
    Feb 9, 2017
    Messages:
    2,025
    Likes Received:
    571
    What is everyone’s #? Mine is 2.5 mil
     
  26. lurkeraspect84

    lurkeraspect84 Well-Known Member
    Expand Collapse

    Joined:
    Mar 4, 2014
    Messages:
    23,124
    Likes Received:
    18,780
    RollLaughmine is a very small fraction of that. Very small.
     
  27. GE Nole

    GE Nole Well-Known Member
    Expand Collapse

    Joined:
    Sep 12, 2005
    Messages:
    36,529
    Likes Received:
    18,720
    What’s hard for most of America is the discipline part. Too many people want to live an upper middle class life on a middle class salary. Folks don’t need the latest phone, two $30k cars, a gym membership, etc.

    If you live within your true means, saving sorts itself out.
     
  28. Hank_

    Hank_ Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Mar 31, 2017
    Messages:
    1,593
    Likes Received:
    2,214
    You're correct, but everything in the way that our economy operates on consumption discourages saving, and with banks borrowing at 0%, they are perfectly fine with extending credit to those that have no business having it.

    Auto loan with 7 year terms to get the payment down to $150 a month? Sure. It'll be underwater in a year, but they'll just roll it to the next creditor, not our problem.

    Finance that new phone for two or three years? it's a small enough payment, go ahead.

    It's an awful way to decide affordability, but it's mainstream, and encouraged.
     
  29. Crums Bald Spot

    Crums Bald Spot Well-Known Member
    Expand Collapse

    Joined:
    Aug 22, 2001
    Messages:
    693
    Likes Received:
    731
    $5M is my number. 1/5 the way there but if we (the wife and I) stay the course we will hit by 63.
     
  30. AWilli6995

    AWilli6995 Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Jan 21, 2005
    Messages:
    7,136
    Likes Received:
    3,106
    Location:
    Greensboro, NC

    You don't have a masters.
     
    Random UK Fan likes this.
  31. AWilli6995

    AWilli6995 Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Jan 21, 2005
    Messages:
    7,136
    Likes Received:
    3,106
    Location:
    Greensboro, NC

    In Monopoly money, no need to lie Fil.
     
  32. Afamu

    Afamu Well-Known Member
    Expand Collapse

    Joined:
    Feb 9, 2017
    Messages:
    2,025
    Likes Received:
    571
    I was at 2.5 on Monday.
     
  33. Crums Bald Spot

    Crums Bald Spot Well-Known Member
    Expand Collapse

    Joined:
    Aug 22, 2001
    Messages:
    693
    Likes Received:
    731
    Haha.
     
  34. Connecticut Wildcat

    Connecticut Wildcat Well-Known Member
    Expand Collapse

    Joined:
    Feb 18, 2019
    Messages:
    333
    Likes Received:
    647
    It’s all a number unless you just want to work. Wife and I put in 50k a year into retirement, not counting savings. Didn’t for a long time due to being in the Army for 12 plus years.
     
  35. WojoRising

    WojoRising Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Jul 3, 2015
    Messages:
    3,524
    Likes Received:
    5,345
    Are you @kycats(can’t remember the numbers)?
     
    Connecticut Wildcat likes this.
  36. Connecticut Wildcat

    Connecticut Wildcat Well-Known Member
    Expand Collapse

    Joined:
    Feb 18, 2019
    Messages:
    333
    Likes Received:
    647
    i am, 4383. Was ban on tMB for posting what they considered pron. didn’t think it was, but oh well. New day, new handle
     
    WojoRising likes this.
  37. WojoRising

    WojoRising Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Jul 3, 2015
    Messages:
    3,524
    Likes Received:
    5,345
    I thought so. I was going to call bullshit on the $1K bet but then I thought I remembered that this was you and that you were certifiably good for it
     
    Connecticut Wildcat likes this.
  38. Connecticut Wildcat

    Connecticut Wildcat Well-Known Member
    Expand Collapse

    Joined:
    Feb 18, 2019
    Messages:
    333
    Likes Received:
    647
    Im good for it my friend. You want it?
     
    WojoRising likes this.
  39. WojoRising

    WojoRising Well-Known Member
    Gold Member
    Expand Collapse

    Joined:
    Jul 3, 2015
    Messages:
    3,524
    Likes Received:
    5,345
    No way. I’m just hoping for a Sweet 16 right now
     
    Connecticut Wildcat likes this.
  40. Connecticut Wildcat

    Connecticut Wildcat Well-Known Member
    Expand Collapse

    Joined:
    Feb 18, 2019
    Messages:
    333
    Likes Received:
    647
    understandable. It’s a crazy season. I had great seats for the champions classic and walked away knowing who was the best team in the country. Hint, it wasn’t yours or mine, which is why I threw that bet out there.
     
    WojoRising likes this.

Share This Page