So ya think you're gonna retire? Think again.

originally posted by: TDawgRex

originally posted by: buster2010

So this is what you'll be like in a couple of years?

In one short sentence.

Yes Buster, Retirement is a pain in the ass.

For some reason that video is banned overseas.

originally posted by: musicismagic

originally posted by: TDawgRex

originally posted by: buster2010

So this is what you'll be like in a couple of years?

In one short sentence.

Yes Buster, Retirement is a pain in the ass.

For some reason that video is banned overseas.

That's bizarre

I hedge the possible collapse of social security with playing powerball.
Winning!!

a reply to: TDawgRex

I just do wood spirits...and i looked it all up on youtube and bought a couple books...although im sure there is tons on chainsaw carving...that stuff is amazing....youtube it! And good luck

originally posted by: cosmicexplorer
a reply to: TDawgRex

I just do wood spirits...and i looked it all up on youtube and bought a couple books...although im sure there is tons on chainsaw carving...that stuff is amazing....youtube it! And good luck

So in other words. Carve away anything that doesn't look like I'm wanting others to see?

a reply to: TDawgRex
Two years ago, the wife wanted to get a brand new 4x4 suv. I told her we could afford it but she couldn't retire before until she was sixty five instead of sixty two. She decided we could live with the vehicles we have. We have a 2000 explorer with only seventy eight thousand miles on it and a 98 buick century we bought from her aunt with fifty thousand miles on it. Both are in good shape except the explorer now has some front end rattle from the potholes. A brand new car hitting potholes would also have rattles. I think we messed up a shock and it may need an alignment. Damn the big potholes here this year, some are about eight inches deep and they fill with water and are hard to see.

I like to pick blueberries, cherries from my brothers tree, and raspberries. I find chopping and stacking wood to be relaxing. Splitting a block of wood relieves stress if you picture the face of someone who made you mad on it. If you are lucky enough to have a deer come up to you when you are deer hunting, picture everyone's face on it that pissed you off during the year. It is one of the most relaxing therapies you can have...You lose a little meat shooting it seven times though. The stress relief lasts at least a year. I wonder why your mental health part of the insurance doesn't cover the cost of the license....lot cheaper than one trip to the therapist.

Finding cheap hobbies that actually save you money is essential. Make sure that you find a close place to pick berries, the cost of going twenty miles away can make the berries expensive. Go with a couple of people to pick so the cost is spread out, three people can go and take a different car each time. don't forget toilet paper.

a reply to: TDawgRex

I retired in 2005.. I am not rich by any means. Not being a drinker or a party dog my life is pretty simple...I suppose my only extravagant expenditure is I do play golf several times a week. I do golf because otherwise I might turn into a couch potato plus I still enjoy the competition.

I got very tired of paying property taxes, and ISD taxes and insurance on a house not to mention trash, water, and electric bills; all the normal things we pay as Americans.. I am lucky for I have had ties to Thailand for over 40 years and actually own a small farm there. There are no taxes on the farm house..no school taxes, if you have kids in school you pay, trash collection is $6 a month, water is $1.75 a month, and the highest electric bill I have ever received was $57. Car full coverage insurance cost me $600 a year per vehicle with no deductible/ My wife's medical insurance cost $540 a year full coverage . Once a year I do have to pay the government to renew my visa which is about $60...but other than that...?

There are many expats in various parts of Asia; not all countries are created equally that is for sure but at this stage in my life I can live very well on $1500 a month and anything over that is just money in the bank. Not for everyone and there may come a day when I return with my tail between my legs... But I plan on dying of old age in Thailand with my wife at my side....She will Probably be thinking, "well it took him long enough" ! Poor attempt at a joke..

Anyway there are many expats from all over the world, all looking for greener pastures or a place they can afford to live on their retirement funds... Certain countries in central and south America seem to work for some.. Laos, Cambodia, Malaysia, and Viet Nam all have their expat communities... I spoke Thai so it was much easier for me to make the transition plus I always liked their Buddhist culture.. My American wife passed away in 2000; I was some kinda messed up when she died... She was way to young and wanted to live and be with me as I did her... We were married for 25 years and still going strong.

I had always promised myself one day I would go back to S.E. Asia and thank goodness I was able to go back to Thailand...I had been stationed there from 1973 to 1976 and it was a very happy time of my life...

The advice you gave in your op was very sound... I read or heard many people do not have $10,000 in a savings account as they approach retirement.. That is very bad happenstance or piss poor prior planning if that is the case and now with ACA (Obama care) it may be harder for many to have anything saved if what I read is correct. If they think they can live on social security they will have a very rude awakening when the time comes IMO.

We have been back in the states since February selling the stateside house, taxes, and getting rid of stuff . I cannot believe how much everything has increased in price ! I am seeing price per gallon at the gas pump of $3.39 to $3.49 and we are in North Houston at the moment which is not known for outlandish gas prices...! A trip to a fast food burger joint now cost as much as a real restaurant used to cost ! Anyway if you do not have something you enjoy doing that gets you out of the house... retirement will kill most out of boredom.. I personally feel I am busier now than I was when working.. But I can always just sit down and say, "no thanks" which is nice.. Sorry for the long write up guess I was bored, wink wink nod nod !

originally posted by: 727Sky
a reply to: TDawgRex

I retired in 2005.. I am not rich by any means. Not being a drinker or a party dog my life is pretty simple...I suppose my only extravagant expenditure is I do play golf several times a week. I do golf because otherwise I might turn into a couch potato plus I still enjoy the competition.

I got very tired of paying property taxes, and ISD taxes and insurance on a house not to mention trash, water, and electric bills; all the normal things we pay as Americans.. I am lucky for I have had ties to Thailand for over 40 years and actually own a small farm there. There are no taxes on the farm house..no school taxes, if you have kids in school you pay, trash collection is $6 a month, water is $1.75 a month, and the highest electric bill I have ever received was $57. Car full coverage insurance cost me $600 a year per vehicle with no deductible/ My wife's medical insurance cost $540 a year full coverage . Once a year I do have to pay the government to renew my visa which is about $60...but other than that...?

There are many expats in various parts of Asia; not all countries are created equally that is for sure but at this stage in my life I can live very well on $1500 a month and anything over that is just money in the bank. Not for everyone and there may come a day when I return with my tail between my legs... But I plan on dying of old age in Thailand with my wife at my side....She will Probably be thinking, "well it took him long enough" ! Poor attempt at a joke..

Anyway there are many expats from all over the world, all looking for greener pastures or a place they can afford to live on their retirement funds... Certain countries in central and south America seem to work for some.. Laos, Cambodia, Malaysia, and Viet Nam all have their expat communities... I spoke Thai so it was much easier for me to make the transition plus I always liked their Buddhist culture.. My American wife passed away in 2000; I was some kinda messed up when she died... She was way to young and wanted to live and be with me as I did her... We were married for 25 years and still going strong.

I had always promised myself one day I would go back to S.E. Asia and thank goodness I was able to go back to Thailand...I had been stationed there from 1973 to 1976 and it was a very happy time of my life...

The advice you gave in your op was very sound... I read or heard many people do not have $10,000 in a savings account as they approach retirement.. That is very bad happenstance or piss poor prior planning if that is the case and now with ACA (Obama care) it may be harder for many to have anything saved if what I read is correct. If they think they can live on social security they will have a very rude awakening when the time comes IMO.

We have been back in the states since February selling the stateside house, taxes, and getting rid of stuff . I cannot believe how much everything has increased in price ! I am seeing price per gallon at the gas pump of $3.39 to $3.49 and we are in North Houston at the moment which is not known for outlandish gas prices...! A trip to a fast food burger joint now cost as much as a real restaurant used to cost ! Anyway if you do not have something you enjoy doing that gets you out of the house... retirement will kill most out of boredom.. I personally feel I am busier now than I was when working.. But I can always just sit down and say, "no thanks" which is nice.. Sorry for the long write up guess I was bored, wink wink nod nod !

Nice, I too live here in Asia. Was stationed here during the Vietnam War, met my wife and years later we moved back to her country. Life is not all grand, but I haven't driven a car in about 12 years. Get around on bicycle or walk everywhere. There's actual no pension here although they say its $2000.00 a year, they take out old age health tax insurance on it. Can't win. Debt free. Time to sell the house and rent, but the wife won't go for it. Too big for the 2 of us and 2 story. I actually thought about moving back to the States and buying some farmland in Missouri and plant a sh..load of blueberries. They are so expensive here. Anyway, I kind of wish I was living in Thailand. Was stationed there also. I'm sure it has all changed but...

a reply to: TDawgRex

haha pretty much ...my first one came out ok though....i mean you can tell its a face and a beard....its fun...im going to try to do walking sticks next

a reply to: TDawgRex

Sorry I didn't get your reply in my in box…

No son, its not me.

a reply to: TDawgRex

When my dad retired he found a few things out very quickly. First thing he found out was that there was too much month and not enough money, followed by the fact that there not being enough money led to being bored and finally that his wife whom he loves very much got on his last freaking nerve when he was stuck with her nearly 24/7. Needless to say he went back to work ASAP and is a much happier guy!

"Retirement" is a relatively modern concept. In the whole of human history it has existed for only a few dozen years, really. Even "social security" is a 20th century phenomenon. Before that, if you could not support yourself on saved or current income, you simply did not retire. Indeed, the retirement age of 65 was chosen precisely because that was the life expectancy of the average worker. The idea was that if he beat the odds and managed to live longer than the actuarial tables said he would, then the state government threw in a small pension to help with food and incidentals. The family was expected to provide shelter and everything else for the very few more years the worker would live. This first happened in Germany due to worker unrest. It was a bone thrown to the masses to keep them from revolting.

Of course this idea spread to the developed world like wildfire so that today everyone "expects" to retire well enough to live on their own for at least a couple of decades and they expect the government to pay for it as their "right." Social security, once seen as a boon to the working class and something that virtually eliminated elderly poverty in the country is now seen as inadequate because you "can't live on it." But it was never meant to be your sole income. it was conceived as one leg of the triad: social security, pensions, savings. The three together were supposed to provide a decent retirement income. And if you look at social security pay-outs, you will find that the less you made during your working life, the more you get, i.e.: social security payments make up a greater portion of your working income at lower levels than they do for people who made more during their lifetime. It's a sliding scale.

Now we all know that the legs of this triad aren't working so well lately. Pensions, even for government workers, are iffy and people tend to NOT have any savings at all. This is true not only for people not making much, therefore they can hardly be expected to save anything when every penny goes to basic survival, but also for people who make plenty of money, really, but spend it all. I have relatives in this category. One set is in their forties and their peak earning years making in excess of $200K and they have no savings. But they do have a boat, new cars, new house, and spend lavishly. They live in the moment. The other set is now at retirement age with nothing but social security. They made GOBS of money during their lifetime, but they spent it all--every last dime. Now they're "poor" and complaining loudly. Well, they made stupid decisions. Both sets are grasshoppers, not ants.

I have a lot if sympathy for people who have never managed to get a leg up, and I have a certain amount of sympathy for people who tried to do the right thing, but got screwed over by the economy or corporate pensions, or other things beyond their control, even though some of it was absolutely in their control, but they made the wrong decisions--investing in areas that got hammered, for example. Maybe they should have been more conservative in their investments. They're inherently risky, and if you choose wrong, you lose. When people complain and say, "The recession ruined me!" I think, why?? Why were you so far out there that it ruined you? Isn't some of this YOUR responsibility for essentially being stupid?

So don't resent the ants who lived frugally and can now enjoy their retirement. They didn't get there by accident, but all through your life you didn't pay attention to what they were saying because after all, they weren't doing so well and always drove old cars and were content with a small house and modest vacations. So why pay attention to them?

But bottom line is that the entire concept of "retirement" is not a given and never has been. It's just that we have been living in a rather narrow window of history where people have grown up believing retirement is part of reality and is OWED to them.

It isn't. In fact, to most of the billions of people who have ever lived, it's a rather novel concept.

a reply to: TDawgRex

S&F TDawg, this is a great thread. Where I work most of the employees are on an 85 and out program where if you are at least 55 years old and have a minimum of 30 years experience you can retire with a good pension. Roughly 60% of your current wage. The new hires coming in will need to be 62 to get the same benefits, although they will probably make higher wages overall.

Most of those in our department are eligible to retire and are playing numbers games to "pad the payout" so to speak. I will reach the magic number in 18 months, but look at what others are doing to gauge my response. One woman I worked with, and who is a very close friend, retired 5 years ago. She had 40 years with the company and was 57 at the time. We get together every week and go for lunch, and it is sad to say that it is the week's highlight for her. Her days are spent watching TV and she doesn't get dressed most days unless she has to go out for some reason. She talks about the the shows she watches and I listen attentively as the TV is rarely on for us.

This is the reason that I started teaching Yoga so that I would have hobby/job to do when I do leave, and my job will be phased out and sent offshore at that time. As many of you know Iwinder has been on disability for 20 years (and can relate you your current situation) and he keeps stressing to me to have a plan and something to do when I retire. If I don't I will make him crazy in very short order.

Our philosophy has always been to buy what we want only when we can pay for it in cash. We do not care to travel and have few other expenditures, save for the necessities and a few treats. Retiring is a big decision to make, one I don't want to regret rushing into. So I thank you for this thread, and hope that many others offer their experience and wisdom for me to digest.

So come on everyone lets make this a good thread with lots of info and advice.

Namaste,
YogaGinns

a reply to: YogaGinns

That really is a great story and I'm happy for you. When I retired, I had cut off all credit cards and was totally debt free. I lived frugally, though I probably did go out to much. Being single gets boring quick as well when not working. Within six months of retirement I had enough and I had found a part-time job, with weekends off that paid comparable to my old full-time job. I was beside myself with joy.

But I was not prepared for a medical emergency, in my naivete, I thought insurance would cover me. Boy was I stupid, I will admit that. My back injury drained my bank account in short order. Never had surgery, nor injections either and the place where I worked successfully fought my claim. (I did hurt myself there).

The hole is mostly filled, still living frugally, albeit bored, but trying to put the past in the past. I now realize that having a credit card is not that bad of a thing...if you can keep it paid off and use it only in emergencies. Too late for this kid though. I went cash only back in '88. My FICO is toast, if someone wants to steal my identity credit wise, they will get nowhere fast. I'm not willing to pay 29% for a credit card...I don't think anyways. Like a siren, they call to me.

My advice for anyone younger than me. Pay off all debt, keep one credit card for JIC purposes, and save, save, save. And when you do buy something, make sure it is needed, not a want item. A quality used car is just as good as a Lambo. All they do get is get you from point A to Point B. But one costs a hell of a lot less.

My GF, also retired has found a fantastic way to supplement her pension from teaching at the Univ. She read a book on Texas Holdem and now fleeces the old retired guys who are usually her opponents in the 11am tournaments at the Indian Casino. They have lost a lot of their mental faculties and can't pay attention to the play. They also underestimate her as a woman player and lose to her rock solid strategy and playing style.

If you play....

"Look around the table and if you can't spot the chumps....it's you!!!" Amarillo Slim

a reply to: benrl

"he lost his entire lives work to bankers who milked him dry of all he had, before taking everything he owned. "

If I'm interpreting this correctly he owed a lot of money and they made him pay it, they didn't take things he owned, they took what he OWED, big difference. Cry me a river.

If I'm interpreting this wrong I apologize. Feel free to correct me.

originally posted by: Dfairlite
a reply to: benrl

"he lost his entire lives work to bankers who milked him dry of all he had, before taking everything he owned. "

If I'm interpreting this correctly he owed a lot of money and they made him pay it, they didn't take things he owned, they took what he OWED, big difference. Cry me a river.

If I'm interpreting this wrong I apologize. Feel free to correct me.

If you must know,

He remortgaged his properties after paying them off,

Mostly due to a prolonged illness My mother suffered through, after losing her.

He got cancer, Lost his job, bills included with that.

The bank would not negotiate and seized the opportunity to try and seize his main house with the mortgage.

He stupidly sold his other homes to cover the loss on that, BUT due to cancer expenses it wasn't enough.

He lost everything when they took the main home.

So I don't know who to be more mad at, The banks, OR The health ins industry.

OR my father, for Believing in a system that #ed him in more ways than one.

a reply to: TDawgRex

Now that I have retired, to be truthful, I'm bored stiff.

It's okay, I'll take that chance.

Unfortunately, I have no choice but to work for the next 14 years.

originally posted by: cosmicexplorer
Im retired...in my mid 30s...not rich by any means...saved a crap ton and make a little here and there through some ventures...and a steady payment....im never bored...

In fact I dont have enough hours in my day to do what I want. Between...chess, reading, guitar, composing music, computer games, fishing, rock climbing, wood carving, astronomy....almost all those are free or dirt cheap...even buying a basic set of stuff can last you 10 years...such a small investment. I bought a nic 100 dollar wood carving knife...itll last probably forever...I walk in the woods...find nice little log..and carve out one of the ugliest faces you will ever see...but I love it.

My time has let me be more creative....I have coffee or tea almost every morning..I get to know the people there and talk with them....but thats aobut the human interaction I intentionally get haha....find some hobbies..some cheap ones...youl be amazed at how good you get at something in only a couple months.

Write an ebook too...you can knock out those on a free publishing sites...ive written 2...both suck but one got a good review by a professional reviewer! I didnt make much off them ..but still made something. Im working on a board game now and another book...both will probably suck but its fun anyway.

Man, that's the life, I'm totally with you. I'm only 40 and I can't wait until I can retire so I can start doing the things I want to do. There's never enough time in the day for me! Always another book to read, another bike path to ride, another instrument to learn how to play, another song to write, another game to play, another book to write, another flower to grow. I can't possibly imagine being bored.

That's what life is about, waking up every morning and looking forward to doing something you want to do. Instead, we go to work all day to make money to buy the clothes we need to wear to work, buy the car we need to get to work, and buy the house we are never in since we are always working. Seems like a cruel trick to me...

a reply to: Subsonic

That's the way I thought of life. Then I missed the social aspects of it. Then I became medically unfit to work.

Best be careful.

But I did have a good 1 1/2 year run at it. And that is something I will never forget and once again strive for. I guess we really never retire do we? It's just that our goals change.