Your Retirement: What Are You MOST Counting On? (1 Viewer)

Which do you see as the TOP 2 most solid/reliable/significant vehicle to your retirement wealth?

  • Social Security

    Votes: 8 80.0%
  • Real Estate Equity or Revenue

    Votes: 2 20.0%
  • Retirement/401k/Investment Accounts/Stocks/Annuities/Pensions

    Votes: 8 80.0%
  • My Own or Family Business Revenue

    Votes: 0 0.0%
  • Sales or Revenue of Other Assets (Not my primary business)

    Votes: 0 0.0%
  • Support from Family/Children/Other Individuals

    Votes: 0 0.0%
  • Public Assistance or Veterans Benefits

    Votes: 0 0.0%
  • Working While I'm Old

    Votes: 1 10.0%
  • Other

    Votes: 0 0.0%
  • Lottery/Inheritance/Other Windfall

    Votes: 0 0.0%

  • Total voters
    10

Isaac

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I'm curious how people view their retirement, financially speaking. This can be a "forecast"/expectation if you are younger, or a "reality"/how it turned out, if you are older.

If you are younger, and still consider yourself largely in the "forecast" stage, then the question pertains to which financial vehicles you believe will be the most relevant to your final retirement situation - the ones you personally feel most sure about. The one(s) which you are most confident will have the best positive influence on your final retirement that you'll live on once your primary full-time working days are over.

If you are older and have already proved out what your reality is, then the question would be about how it turned out - (Referring to the positive influence of something)

I set this as anonymous so that it is completely detached from personalities, expectations, ego and shouldn't give rise to any privacy concerns. (At least I think I did - "Display Votes Publicly" was left un-checked).

I hope I designed reasonable choices, and that many people participate so that we all learn something interesting!

This would be more fun if I could allow ranking of choices, but the only option was Single, Multiple, Unlimited - so choose 2
 

pbaldy

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I'm still working but I'm in home stretch. :geek:

I could actually retire now. I got cut back to one day a week for much of covid, brought back to full time a month ago. Part of me is "gee, this having to work every day is cutting into my fun time!". There was a point when I wondered if the company would survive; it was all but shut down. I ran the numbers and decided I could retire now. I'd be more likely to but I have the freedom of working from home and setting my own schedule to a large degree. I enjoy my job so might as well keep working.

I've always been a person who lives within his means, so between savings/401k and Social Security I should be fine. Until they change the rules and decide the ants need to take care of more grasshoppers. :mad:
 

AccessBlaster

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Retirement is a complex issue because it depends on the individual to determine their own fate. Take Social Security in the US for example. Social Security is a type of government pension that we all contribute to. There are many factors regarding S.S. but the two main features are longevity and the highest lifetime earnings. This is true of most pensions even in the private sector. To get the maximum benefit from any pension you need Years of Service + Max Pay. Unfortunately, most youngsters do not consider this when starting out in life.

Next to private-sector pensions, I am a big fan of 401k's, 403b's especially if you have a few extra bucks you want to invest before taxes. Roth IRA's are a great tool if you have an old 401k sitting around collecting dust. You can easily convert it to a Roth IRA and continue to contribute after-tax dollars without penalties. So that nice.

The point is you need an early strategy discipline and luck. ;)
 

The_Doc_Man

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What am I most counting on?

Mark Twain's answer seems appropriate: To be absent when my time comes.

(I voted already.)
 

kevlray

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I plan to retire within the next 22 months. And hopefully move out of California. I also plan not to fully retire. Either pickup a part time job or turn my wood working hobby into a money maker.
 

conception_native_0123

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And hopefully move out of California.

are yyou sure you don't want to make that Florida? either way though, you're probably asking for it. both of those states are a bit strange, don't ya think? I got this article sent to me by a friend that lives in Florida...


but that's not all. I've gotten many more things from him ABOUT FL and CA.

turn my wood working hobby into a money maker.

my father created pretty much his entire house by way of his own wood working talent.
 

kevlray

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Been to Florida several times, it does not interest me. I lived in Missouri 26 years and still have family there. Aspects of the weather can be brutal (as it can be in most states). Leaving California has to do more with the cost of living (taxes, high gas prices, etc.). On the flip side, we tend to have good vegetables and fruit and a decent price.
 

conception_native_0123

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I think the high prices in California are more or less due to their mistake of cutting out their own middle class and creating things like Hollywood and the gold rush in the late 1800s.

Furthermore if you move to missouri, you would be entertained by places like Branson. That is the community theater capital of the world if you didn't know :)
 

Isaac

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If he lived in MO 26 years, he probably does know that.

I lived in Kansas City MO for 1 year and still have great memories of the storms, rain, beautiful trees, and a yard the size of Brazil where I installed my daughter's first swingset and taught her to ride a bike. In contrast she is now 20 and learns everything she knows from blogs. How life changes. :sneaky:
 

kevlray

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When I retire I hope to be near the Lake of the Ozarks (and close to Branson). I got my Computer Science degree at the University of Missouri-Rolla (Now the Missouri University of Science and Technology). One of the best campgrounds in Missouri (at least 40 years ago) was Johnson Shut Ins. A wonderful place of pools and small waterfalls. Of course I still consider some of the best BBQ to be in KC (Gates and Sons).

Of course there is the hot and humid summers (not as bad as Houston, TX) and the cold, bitter winters (like the week it did not get above 0 deg Fahrenheit).
 

conception_native_0123

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like the week it did not get above 0 deg Fahrenheit).

that happened up here quite a few times. 2 years ago, for one week straight, I had the heat running 24 hours a day because it was -10 to -20. 7 day stretch. wow. and this is iowa. not wisconsin!
 

kevlray

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I know that a lot of states North of Missouri get colder for longer periods of time. The interesting thing is that I knew a woman that moved down from Wisconsin and she said the winters felt colder than when she lived in Wisconsin.
 

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