The Retirement Thread...

[data]

Okay. I was thinking in terms of retirement. Thanks.

Yeah, that’s why I mentioned 529 consideration after you’ve maxed your 401k or pre-tax retirement accounts.

 

[fortsbest]

I could have retired from the department 4 years ago. I'll do at least 2 more before I separate from the city. I've had offers from small towns to come be a Chief, but the pay cut is too drastic. In 2 years it won't impact me at all if I decide to take a job of that sort. My daughter is a senior and wants to go to Columbia. Sheesh

 

[skidadl]

I have a plan of action as of now. 4-5 years ago my life and financial situation was worse than a tire blow-out at 100mph. Since then I got back on the horse full speed. Thankfully, my business has greatly expanded and shows no signs of slowing down anytime soon. By July 1sy of next year, Lord willing, all of my real estate will be paid off. At that time I will be sitting on a chunk of equity spread over 5 properties. My business is worth a crapton of money atm. My plan is to continue to build infrastructure pretty intensely over the next 2 year and let it ride for a while. I'd like to get out of this game and into another one soon.

As for legit retirement savings out of those two things, I got nuthin. After July of next year I plan to diversify my investments but I really don't know a lot about how to do that.

 

[L.T. Fan]

I have a plan of action as of now. 4-5 years ago my life and financial situation was worse than a tire blow-out at 100mph. Since then I got back on the horse full speed. Thankfully, my business has greatly expanded and shows no signs of slowing down anytime soon. By July 1sy of next year, Lord willing, all of my real estate will be paid off. At that time I will be sitting on a chunk of equity spread over 5 properties. My business is worth a crapton of money atm. My plan is to continue to build infrastructure pretty intensely over the next 2 year and let it ride for a while. I'd like to get out of this game and into another one soon.

As for legit retirement savings out of those two things, I got nuthin. After July of next year I plan to diversify my investments but I really don't know a lot about how to do that.

The simplest method is to begin with IRA accounts. That’s something anyone can do and it doesn’t take a sophisticated foundation to set it up.. If however your are wanting to get the maximum return you will probably have to go to the securities market to do that. This will probably require a financial planner and there’s always a dilemma as to what to invest in and the risk versus reward circumstance. The higher the return the higher the risk is the general rule of thumb. For peace of mind a moderate risk investment is a good starting point. If you then have additional funds for investment then you can diversify and pick up some high yield investments but keep this as a small portion of your overall portfolio until you get more acquainted with the securities market and the things that cause it to move up and down.

 

[midswat]

This thread is kind of depressing because I was like 23 when I started posting on the ESPN forums and now I’m 42 and have to take threads like this serious.

 

[p1_]

This thread is kind of depressing because I was like 23 when I started posting on the ESPN forums and now I’m 42 and have to take threads like this serious.

wait til that humbling day you receive AARP documents in the mail.

 

[Rev]

wait til that humbling day you receive AARP documents in the mail.

Those fuckers will troll you. It will arrive just a few days before your birthday.

 

[boozeman]

My wife and I have decided we are not going to retire in the States.

There are plenty of options in Belize or Honduras that make a lot more sense.

Yeah, you have to give up some amenities, but at the end of the day, you can live way fucking cheaper.

 

[data]

@L.T. Fan

Your thoughts on permanent whole life insurance?

 

[data]

This thread is kind of depressing because I was like 23 when I started posting on the ESPN forums and now I’m 42 and have to take threads like this serious.

Your broke-ass ain’t ever retiring.

 

[midswat]

Your broke-ass ain’t ever retiring.

I’m already collecting two pensions from my time as the CowboysCentral and DallasCowboysTalk moderator. Fkn @Sheik was too much of a Jew to offer us DCU mods a pension.

 

[data]

I’m already collecting two pensions from my time as the CowboysCentral and DallasCowboysTalk moderator. Fkn @Sheik was too much of a Jew to offer us DCU mods a pension.

Lifetime supply of double-dipped fries?

 

[UncleMilti]

I'm set up for retirement, but I have worked all my life, and really enjoy working. All my commercial real estate is paid off, and the commercial construction side is booked thru 2021.

I had a really nice offer to buy my commercial business in 2019, but turned it down and instead added a full time residential arm of the business. The residential market is on fire. I built a model/spec home for right at 850K that we've already had offers on for 2M. We plan to live in it for a year, showing it by appt to spur business in the 1M+ market while concentrating on specs in the 400-600K range. So I now have commercial and residential construction portfolios. Plus, I'm dabbling in development which is a way different animal in itself.

I have a couple friends my age who retired early (within the last 2-3 years) and they are bored shitless. Just not where I want to be right now. That might change in the next year...or two...or three.

 

[Rev]

I'm set up for retirement, but I have worked all my life, and really enjoy working. All my commercial real estate is paid off, and the commercial construction side is booked thru 2021.

I had a really nice offer to buy my commercial business in 2019, but turned it down and instead added a full time residential arm of the business. The residential market is on fire. I built a model/spec home for right at 850K that we've already had offers on for 2M. We plan to live in it for a year, showing it by appt to spur business in the 1M+ market while concentrating on specs in the 400-600K range. So I now have commercial and residential construction portfolios. Plus, I'm dabbling in development which is a way different animal in itself.

I have a couple friends my age who retired early (within the last 2-3 years) and they are bored shitless. Just not where I want to be right now. That might change in the next year...or two...or three.

By chance are you looking to adopt?

 

[NoDak]

I'm set up for retirement, but I have worked all my life, and really enjoy working. All my commercial real estate is paid off, and the commercial construction side is booked thru 2021.

I had a really nice offer to buy my commercial business in 2019, but turned it down and instead added a full time residential arm of the business. The residential market is on fire. I built a model/spec home for right at 850K that we've already had offers on for 2M. We plan to live in it for a year, showing it by appt to spur business in the 1M+ market while concentrating on specs in the 400-600K range. So I now have commercial and residential construction portfolios. Plus, I'm dabbling in development which is a way different animal in itself.

I have a couple friends my age who retired early (within the last 2-3 years) and they are bored shitless. Just not where I want to be right now. That might change in the next year...or two...or three.

@Iamtdg change his username to UncleTrumpy.

 

[yimyammer]

If you’re young enough, better start saving so you can do an end run around gov health care if you ever need to

 

[Cowboysrock55]

If you’re young enough, better start saving so you can do an end run around gov health care if you ever need to

Yeah for the people who want government stuff, they don't understand how god awful the government is at running most things. These people don't have a business mind. They have ideas and no idea how to actually put them together in an efficient manner. Socialized medicine, great idea. But how do you do it so the services are great and the costs are lower. They always nail the first part but fail miserably in making the services great at a lower cost. Because what's their motivation to do those things? Pelosi and her cronies couldn't give a shit about making people's lives better. The money they play with isn't there money so they don't give a shit about it. The services people receive aren't the services they receive, so again, they don't give a shit.

 

[boozeman]

Time to fire this one up again.

It is getting the point where I don't want to deal with bullshit each and every day anymore.

I either need a change of scenery at work or just drop out and become some sort of weird RV-driving hippie.

I don't have shit in terms of savings.

But I don't give a shit sometimes. I am getting tired of the grind.

 

[gp_cowpolk]

Im retired going fishing tomorrow

 

[Angrymesscan]

Im retired going fishing tomorrow

Seems the new kids on the block ain’t so new…