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Dirtyhip

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Sometimes stuff happens and the folks that planned the early retirement end up working longer but it doesn’t hurt to plan. I worked with a guy that always said he was going to retire at 50. Then he got remarried and his wife wanted a nicer house, then she was in an accident and wasn’t able to work, then the stock market crashed. He finally retired in his seventies when he was no longer able to work. I always played it by ear, it’s working out fine.

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27 minutes ago, Dirtyhip said:

The guy gave me some great advice a bunch of years back.  When my husband was in school, I was hell bent to quit my job after he finished.  I was miserable. My Then, a miracle happened.  My boss was demoted.  They basically just pushed her into a cushy easy job, but with no employees under her.  I am sure she had the same pay, but she was essentially removed. 

And that is why the government is "broken"! It operates not at all like a private corporation. :P

Tom

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47 minutes ago, Razors Edge said:

And that is why the government is "broken"! It operates not at all like a private corporation. :P

Tom

Not always.  Corps do this too, if you are high enough up the chain.

and, I don't work for the Govt anyway.  This kind of behavior is rampant, if you know the right people. 

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1 hour ago, Longjohn said:

Sometimes stuff happens and the folks that planned the early retirement end up working longer but it doesn’t hurt to plan. I worked with a guy that always said he was going to retire at 50. Then he got remarried and his wife wanted a nicer house, then she was in an accident and wasn’t able to work, then the stock market crashed. He finally retired in his seventies when he was no longer able to work. I always played it by ear, it’s working out fine.

OK, Debbie Downer. 

I hope I don't have an accident, have a stroke, or whatever.  The stock market could crash.  That is why when you are close to retirement, you invest much more in safer investments.  A balanced portfolio is the goal.  Target funds are great, and even using a more conservative target date.  I have an appointment with a planner to make sure I am on track with the goal. 

We may still try to bang out 3 months of work per year, in retirement.  This is due to the health care concern.  We can probably afford a good policy if we work just a little, each year.  Well, until we get to 65, when there are more options for us.

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1 hour ago, Dirtyhip said:

OK, Debbie Downer. 

I hope I don't have an accident, have a stroke, or whatever.  The stock market could crash.  That is why when you are close to retirement, you invest much more in safer investments.  A balanced portfolio is the goal.  Target funds are great, and even using a more conservative target date.  I have an appointment with a planner to make sure I am on track with the goal. 

We may still try to bang out 3 months of work per year, in retirement.  This is due to the health care concern.  We can probably afford a good policy if we work just a little, each year.  Well, until we get to 65, when there are more options for us.

Another thing to consider is not carrying debt intonretirement.  That's our goal, sell the house or if we stay it will be paid off by retirement and not get into debt while we build on our retirement savings another 15 years or so...

My mom didn't live on much in retirement but she had no bills either.

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2 minutes ago, ChrisL said:

Another thing to consider is not carrying debt intonretirement.  That's our goal, sell the house or if we stay it will be paid off by retirement and not get into debt while we build on our retirement savings another 15 years or so...

My mom didn't live on much in retirement but she had no bills either.

I could not agree more.  I read that more people are carrying debt into retirement.  That hopefully will not be us. 

Maybe we take a loan to build the new home, but as soon as we can get out renters out of our other home, we can sell it and use that cash.  Personally, I would prefer an all cash thing.  Building a home is spendy tho, even with or tiny plans. 

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2 hours ago, Dirtyhip said:

OK, Debbie Downer. 

. . . ..  Target funds are great, and even using a more conservative target date.  I have an appointment with a planner to make sure I am on track with the goal. 

 

I agree re target funds but you also need to make sure you understand the glide path for your particular fund.  Two different Target Retirement 2025 funds from different fund families can have very different asset allocations along the way and even end up with different final allocations.  Always make sure the particular glide path for a Target Fund is consistent with your desired allocation, especially if a couple has multiple retirement accounts with different allocations.

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2 hours ago, Kirby said:

I agree re target funds but you also need to make sure you understand the glide path for your particular fund.  Two different Target Retirement 2025 funds from different fund families can have very different asset allocations along the way and even end up with different final allocations.  Always make sure the particular glide path for a Target Fund is consistent with your desired allocation, especially if a couple has multiple retirement accounts with different allocations.

Smart cookie, you are, Kirb. 

I have a little in Vanguard, but mostly Fidelity.  Fidelity seems to be on the more conservative side, and I appreciate that.  Also, I target an earlier date than maturity date.  I like a bit of safety.

 

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7 hours ago, Dirtyhip said:

Not always.  Corps do this too, if you are high enough up the chain.

and, I don't work for the Govt anyway.  This kind of behavior is rampant, if you know the right people. 

I have seen that happen a few times - screw up enough and some people get kicked upstairs.  Amazing.

I agree completely with waiting out the bad bosses.  I just saw an extreme case of that, thankfully not my direct boss, but close enough to make my life miserable.  Some last longer than others, but usually they are high flyers that soon disappear up the food chain.

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