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UCGal
ParticipantMy grandfather retired early (55) in the early 70’s. Inflation KILLED thier budget. My grandmother, who’d never worked outside the home, became a “shop girl” at Quon Mane in La Jolla…, in her 60’s. The fixed income/pension that they thought would be enough wasn’t. It wasn’t the retirement of their plans.
[quote=walterwhite]Otoh instead of retirement taking time out for radical retooling for a better different job or adventure sounds more prudent and probably more fun and invigorating[/quote]
This is actually a great idea. I have 2 friends and a sister who’ve done this. One friend has an undergrad degree from Penn, MBA from Columbia, and was doing technical marketing for 15 years… She realized she’s always be a square peg in a round hole. She took some inheritance, paid off her house, traveled around the world for a year (volunteering in 1 month increments to allow her to meet people and get her host family lodging.) She came back, and started working as a director for a non-profit… Much more fulfilling for her than the corporate rat race. My sister decided in her early 30’s to chuck her corporate job and get a teaching credential… Lower income potential, but it was a good choice for her and her students – she’s a great teacher. Plus summers off to travel and do mission work in Africa. She’s never looked back.
ParticipantMy grandfather retired early (55) in the early 70’s. Inflation KILLED thier budget. My grandmother, who’d never worked outside the home, became a “shop girl” at Quon Mane in La Jolla…, in her 60’s. The fixed income/pension that they thought would be enough wasn’t. It wasn’t the retirement of their plans.
[quote=walterwhite]Otoh instead of retirement taking time out for radical retooling for a better different job or adventure sounds more prudent and probably more fun and invigorating[/quote]
This is actually a great idea. I have 2 friends and a sister who’ve done this. One friend has an undergrad degree from Penn, MBA from Columbia, and was doing technical marketing for 15 years… She realized she’s always be a square peg in a round hole. She took some inheritance, paid off her house, traveled around the world for a year (volunteering in 1 month increments to allow her to meet people and get her host family lodging.) She came back, and started working as a director for a non-profit… Much more fulfilling for her than the corporate rat race. My sister decided in her early 30’s to chuck her corporate job and get a teaching credential… Lower income potential, but it was a good choice for her and her students – she’s a great teacher. Plus summers off to travel and do mission work in Africa. She’s never looked back.
Participant[quote=PatentGuy]Sorry, but I have to draw the line. Life is too short for bad beer. San Diego has many wonderful microbrews to slurp down. Save your pennies someplace else in the budget. Not on beer.[/quote]
LOL – I’m with you on this. I made a vow when I got my first post-college job… no more bad beer. Best life choice I’ve made.Participant[quote=PatentGuy]Sorry, but I have to draw the line. Life is too short for bad beer. San Diego has many wonderful microbrews to slurp down. Save your pennies someplace else in the budget. Not on beer.[/quote]
LOL – I’m with you on this. I made a vow when I got my first post-college job… no more bad beer. Best life choice I’ve made.Participant[quote=PatentGuy]Sorry, but I have to draw the line. Life is too short for bad beer. San Diego has many wonderful microbrews to slurp down. Save your pennies someplace else in the budget. Not on beer.[/quote]
LOL – I’m with you on this. I made a vow when I got my first post-college job… no more bad beer. Best life choice I’ve made.Participant[quote=PatentGuy]Sorry, but I have to draw the line. Life is too short for bad beer. San Diego has many wonderful microbrews to slurp down. Save your pennies someplace else in the budget. Not on beer.[/quote]
LOL – I’m with you on this. I made a vow when I got my first post-college job… no more bad beer. Best life choice I’ve made.Participant[quote=PatentGuy]Sorry, but I have to draw the line. Life is too short for bad beer. San Diego has many wonderful microbrews to slurp down. Save your pennies someplace else in the budget. Not on beer.[/quote]
LOL – I’m with you on this. I made a vow when I got my first post-college job… no more bad beer. Best life choice I’ve made.ParticipantI’m planning on increasing my 401k contribution by 2%. Since 2011 is the year I turn 50 – I qualify for “catch up” contributions this year.
No economy stimulating for me. Just early retirement stimulation.
ParticipantI’m planning on increasing my 401k contribution by 2%. Since 2011 is the year I turn 50 – I qualify for “catch up” contributions this year.
No economy stimulating for me. Just early retirement stimulation.
ParticipantI’m planning on increasing my 401k contribution by 2%. Since 2011 is the year I turn 50 – I qualify for “catch up” contributions this year.
No economy stimulating for me. Just early retirement stimulation.
ParticipantI’m planning on increasing my 401k contribution by 2%. Since 2011 is the year I turn 50 – I qualify for “catch up” contributions this year.
No economy stimulating for me. Just early retirement stimulation.
ParticipantI’m planning on increasing my 401k contribution by 2%. Since 2011 is the year I turn 50 – I qualify for “catch up” contributions this year.
No economy stimulating for me. Just early retirement stimulation.
ParticipantI’m a little older (ok a decade older) and have been running the numbers for my own plans… The big kicker in every retirement budget I come up with is health insurance.
My husband is older than me, and will qualify for medicare in 6ish years. I’ve got 16 years. Kids (2 of them) will need insurance through college.
My goal is to get my house paid off early. (If things go well in 5 years or less.) After that, the other big budget item is health insurance. For a family of four, using a lower cost insurance (Kaiser Permanente HMO) it’s still over $13k/year. That’s a big chunk of money on a limited budget retirement.
If you use Quicken – they have the “financial overview” feature that you can plan all of your expenses vs savings/investments… You can put in stuff like college for the kids, when social security kicks in, when you can start drawing your 401k/IRA funds without penalty. You can play with the rate of return, etc… The key is coming up with a reasonable budget in the first place… then adding overage because…well, $hit happens in real life.
ParticipantI’m a little older (ok a decade older) and have been running the numbers for my own plans… The big kicker in every retirement budget I come up with is health insurance.
My husband is older than me, and will qualify for medicare in 6ish years. I’ve got 16 years. Kids (2 of them) will need insurance through college.
My goal is to get my house paid off early. (If things go well in 5 years or less.) After that, the other big budget item is health insurance. For a family of four, using a lower cost insurance (Kaiser Permanente HMO) it’s still over $13k/year. That’s a big chunk of money on a limited budget retirement.
If you use Quicken – they have the “financial overview” feature that you can plan all of your expenses vs savings/investments… You can put in stuff like college for the kids, when social security kicks in, when you can start drawing your 401k/IRA funds without penalty. You can play with the rate of return, etc… The key is coming up with a reasonable budget in the first place… then adding overage because…well, $hit happens in real life.
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