TexasCTD

Here is a thread I started a couple of years ago regarding your plans for retirement. https://www.dieseltruckresource.com/...s-t150550.html


I thought it was interesting to read everybody's comments in it. Has the market crash and the current administration effected those plans now? Has this sidetracked your retirement? Thoughts?

Personally, I took a pretty good hit on my retirement accounts so it may have pushed me out a few years. Im not sure yet how much. Also, I have been reading a book by Dave Ramsey and trying to pay off all debts and live debt free from this point forward.

How about you?

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justcampin

got everything paid off execpt for the house and am paying extra on it , should be paid off in 4 years, and then retireing or at least semi retireing

TexasCTD

R u gonna full-time it (RVing) or plan to keep your home in Allen? Did your retirement accounts not take a hit that impacted what you thought your income stream would be? I am not trying to get into your personal finances, im just curious how you avoided being impacted by the market crash at least to some degree.

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s cesnick

I am 39 yrs old and work for Uncle Sam. I am eligible to retiring at age 50 but my TSP ( a form of 401k) took a nice big nose dive last year. If it recovers enough I still might be able to retire at my planned age as long as that Walmart greeter gig comes through for me.....

eddiebob

Well, I'll be 53 this year and still plan on working for 8 more years. I managed to make 5.5% on my 401K last year. Because of my age and the amount of money involved I chose to put all of my 401K into our fixed (bond) fund in the late 90's. My biggest concern with early retirement is the cost of insurance. Healty, home, and auto insurance can easily cost $1500/month! As far as credit cards go I have always been a "pay cash or put it on lay-away" kind of guy. I guess there is no other way to put it than I have been blessed many ways. One of my children told me that I live in a dream world. I guess I do but, it's my dream! I did take a pretty heavy reduction (90K) in wages this year but it really does not effect anything. My plans were to retire with a monthly income after taxes of $7,000/month and this goal will be easily achieved. I have never counted on getting any social security and if I do that will be great. Between the 401K, 409A, and discounted stock (not a stock option, I have to buy it) the future looks great and none of my plans have changed. Ed B

madhat

Hopefully, I'll do ok from 30 years from the Corps. I have a lot of bills right now, but soon (next 3-5 years) I hope to start something that resembles an investment. After watching one of my friends put 10k into TSP and watching it crash (just over 1k worth) I am leary of investing in anything that has to do with intangible items...

j-fox

Fed up with the system, as a business owner, I sold out last year.
Paid off the house and everything BUT some rental propery.
I've been coasting and watching my retirement funds dwindle away..
Very sad and tough.
I worked very hard for it. This last quarter it was positve.

BUT I am tired of the MAGGITs riding the system.
Both low end and high end.( POLITICIANS ).They seem to think what I have worked hard for is thiers to take by changing laws. I got news for them, I will spend it first, sell what I bought and have the cash in hand. (or better yet gold silver).

You asked me!!!!

MikeyB

Going to work until the day I die.....

MikeyB

bigfoot

I still plan to retire at age 60. I’ll be 52 in September and the city that I work for will pay my insurance until I am able to receive Medicare. So long as I work until I turn 60 and have at least 20 years service. By the time I am 60 I will have over 30 years.

PistolWhipt

The military retirement definately helps ... but it ain't gonna carry ya. Not with a family at least.

We are trying to do the Dave Ramsey thing too and really hope to get busy saving for retirement as soon as we can. Although I can't see myself being totally retired ... not too sure that I could handle it.

Cheers,
PISTOL

TexasCTD

I feel like the politicians are the biggest single threat to my own retirement!!!
And all this talk about changes in healthcare.....somehow I don't think is going to benefit me. I'll be paying more and more and receiving less while my money pays more for the freeloaders.

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TexasCTD

Mike, is this because you want to or because you will have to? Or maybe both?

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t-boe

I'm retiring from the military in 9 years and then I'm going civil service and retiring from that. My wife is a school teacher and will be eligible for retirement at 58. We also started IRA's last year when the market tanked. Get in while the market is low.

Rednecktastic

I'm 27 and plan to have like a hay farm and do some small time ranching as well to pass the time when I'm old.

I plan to try to make it self sustainable in that I work for the rest of my life, like find an area with like 50+ low lying acres and dredge it out to help pay for the land and sell some timber off it before I retire.
I'd like to pick up the land in my 30's in an area I can see will eventually grow, like 600 to maybe 1000 acres. I seen a girl recently and her grandpa did the same thing but he's got like 2000 acres, it's funny how similar we are I need to get back in touch with her.



I save every dime I can but for some reason feel one day I'll have to "spread" my wealth.


The market didn't hurt me too bad because I pulled out and started shorting it. Among other things I do my best friend is my broker and we'll get on yahoo messenger and talk and day trade my account. I've done well for my age and hope I continue to do well. I went to college and got a finance degree so I understand this stuff ok.

RowJ

Just be aware... there won't be any more medical by then. Sorry, but that's the latest Obamaplan!

RJ