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#76 |
On Hiatus
Join Date: Aug 2000
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Just bumping this to the top after BRC's thread....
Anyone who has any advice.....stories to pass along...or just wants to vent about something you faced when you retired please feel free to jump in here |
Posts: 11,524
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#77 |
Has a particular set of skills
Join Date: Dec 2003
Location: On the water
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Yeah, I would have put my retirement post in here but I also needed to let planeteers know about my memory issues. I was worried many wouldn’t see it because they are not retired or thinking about retiring.
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Posts: 79,680
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#78 |
On Hiatus
Join Date: Aug 2000
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You wre absolutely right to put it in its own thread as most people nay not check out this thread until they have something to contribute.
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Posts: 11,524
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#79 |
Has a particular set of skills
Join Date: Dec 2003
Location: On the water
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I've got some CD's that are mature in a couple of months. I have a 401K I have to make a decision on in a couple of weeks. What have you guys done with these in the past or will in the future?
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Posts: 79,680
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#80 |
Bono & Grbac wasn't enough
Join Date: Oct 2000
Location: Sioux City, IA
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Posts: 35,987
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#81 |
Has a particular set of skills
Join Date: Dec 2003
Location: On the water
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Posts: 79,680
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#82 |
Banded
Join Date: Feb 2001
Location: Oz
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Good thread. My wife plans to retire in a couple of years. Her job is just too stressful. She will still have to find some other employment as I don't think we can afford to live on my income and her retirement.
Me, I figure unless I can work some magic, I probably have at least 10-12 more years before I can retire. Most people that I have ever talked to about retirement are looking at what health care costs and/or when they are eligible for Medicare. We are both early 50s so Medicare will be awhile. But she can retire and I'll just add her to my healthcare. We both work for the same main entity, just different departments. So, the healthcare should remain the same for her. |
Posts: 41,702
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#83 | |
Supporter
Join Date: Dec 2004
Location: Ozarks
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Posts: 33,877
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#84 |
Supporter
Join Date: Dec 2004
Location: Ozarks
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I might suggest rolling over your 401k to an IRA. Once you hit 73, you will be required to take min distributions
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Posts: 33,877
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#85 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Quote:
Take your CD money and split it like 4 ways and then every 3 months put one section in a CD. Or you can do it 12 ways and do it every month. Laddering CDs can help offset the timing risk. As for your 401K, I’d leave it in the market as long as you’re comfortable with the risk profile of your investments. One thing I would do is figure out if there are any client paid fees. They don’t advertise them so you’ll have to do some looking. If there are any fees, definitely roll that shit into a self directed IRA. Almost all the big ones have no fees. Then if it’s me I keep some index fund type exposure to the market. EDIT: another thing you should probably figure out is how difficult it is to get normal distributions out of your 401K. If that’s very difficult, again I’d roll it to an IRA. |
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Posts: 57,499
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#86 |
Veteran
Join Date: Mar 2024
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I'm pretty fascinated by people who could retire, but don't want to. I like what I do well enough, but if I could afford it, I'd never work again. I admire people who love what they do for a living, but it's a foreign concept to me.
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Posts: 3,805
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#87 |
Supporter
Join Date: Nov 2005
Location: Peoples Republic of CoMo
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Just under 5 months for my planned retirement. Question for those that have retired. Did you have any apprehension or second thoughts about turning in the paperwork and making it official? I have to give 1 month or more notice and sometimes I am feeling unsure about it.
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Posts: 4,346
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#88 | |
Red, White & Blue for the U.S.
Join Date: Sep 2001
Location: The Great Northwest now..
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Posts: 7,013
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#89 | |
Has a particular set of skills
Join Date: Dec 2003
Location: On the water
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Quote:
I'm paying close to $400 a month for Medicare A&B, G plan and a drugs plan. But when I get the new tax return for 2004 taxes, we should get that down to around $150 a month. I had a good PPO plan. Still charged me $500 co-pays for MRI ‘s and Cat Scans. $60 for an office visit. I don’t have to pay those co-pays on Medicare. So that’s saving me more than chump change. Last edited by BigRedChief; 05-09-2024 at 05:28 PM.. |
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Posts: 79,680
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#90 | |
On Hiatus
Join Date: Aug 2000
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Posts: 11,524
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