Wilbur ★ Posted February 11, 2018 Share #1 Posted February 11, 2018 Did or will you have to adjust your lifestyle? Link to comment Share on other sites More sharing options...
Dirtyhip Posted February 11, 2018 Share #2 Posted February 11, 2018 Since we live a relatively modest life. Our lifestyle will look exactly the same. We save tons, and we will no longer need to do that at such an aggressive level. We can live happily on 2000 month now, and with no bills besides utilities it should be pretty easy. We might need to have some side hustles to help with the health insurance piece and luxuries like newer bikes. 2 Link to comment Share on other sites More sharing options...
donkpow Posted February 11, 2018 Share #3 Posted February 11, 2018 I'm planning on an early grave, if that answers your question. 1 1 Link to comment Share on other sites More sharing options...
Ralphie ★ Posted February 11, 2018 Share #4 Posted February 11, 2018 We will take quite a hit. The only expense I can see loosing is commuting. So the Longjohn life is being elusive, dangit!. Link to comment Share on other sites More sharing options...
Green Grass Posted February 11, 2018 Share #5 Posted February 11, 2018 IF I retire, it means that I've sold my company. Based upon current valuation, projected investment income on the net proceeds, i will make less than I do now, but my personal cash flow will actually be higher as I'm not reinvesting any earnings back into the company. Financially things will be just fine...and won't need to draw upon the principal during retirement. My big changes to deal with will be the increase in free time and of course the aging of children completely changing the family dynamic that I've had for nearly 25 years. Link to comment Share on other sites More sharing options...
ChrisL Posted February 11, 2018 Share #6 Posted February 11, 2018 Unknown at this point. Retirement savings have been less than optimal due to life... We carry no debt and have close to $500K in home equity so the plan is to go into retirement debt free. Hopefully in the next few years kid related expenses like tuition, medical and weddings will subside and we can start putting more retirement money away. Link to comment Share on other sites More sharing options...
Wilbur ★ Posted February 11, 2018 Author Share #7 Posted February 11, 2018 4 minutes ago, Goat Geddah said: IF I retire, it means that I've sold my company. Based upon current valuation, projected investment income on the net proceeds, i will make less than I do now, but my personal cash flow will actually be higher as I'm not reinvesting any earnings back into the company. Financially things will be just fine...and won't need to draw upon the principal during retirement. My big changes to deal with will be the increase in free time and of course the aging of children completely changing the family dynamic that I've had for nearly 25 years. My brother is struggling with the sell or not to sell decision right now. He wants a stress free life but he has lifestyle related overhead the businesses easily supports but doesn't want to support without the businesses. ie: He wants his cake and eat it too. Link to comment Share on other sites More sharing options...
shootingstar Posted February 11, 2018 Share #8 Posted February 11, 2018 The stock market did dent portfolio abit... But no changes to lifestyle. I'm a woman who doesn't get much into fashion anymore. Thank goodness mortgage paid off before I received notice I was losing job (soon). Interesting 2 ETF index funds are ok but don't compromise a huge hunk. I'm still betting a Canadian high tech will do better next yr. (If Amazon HQ2 enters Toronto, they might be under serious threat..for talent poaching, etc.) 1 Link to comment Share on other sites More sharing options...
sheep_herder ★ Posted February 11, 2018 Share #9 Posted February 11, 2018 48 minutes ago, Wilbur said: Did or will you have to adjust your lifestyle? Not sure about a hit, but I retired in 2006 and we still live about the same with too many sheep. My wife will have to take care of me in the waning years. 1 1 Link to comment Share on other sites More sharing options...
Page Turner Posted February 11, 2018 Share #10 Posted February 11, 2018 52 minutes ago, Wilbur said: Did or will you have to adjust your lifestyle? ...oh man, the list is endless. I sleep in sometimes now, shave maybe twice a week, haven't needed to directly deal with drunks or derelicts (some of my favorite people) on a personal basis since I stopped working, and haven't turned on the lights and siren in the car since I can't remember when. Don't even get me started on the adjustments I've needed to make with regard to eating. 3 Link to comment Share on other sites More sharing options...
Page Turner Posted February 11, 2018 Share #11 Posted February 11, 2018 43 minutes ago, Dirtyhip said: ...and luxuries like newer bikes. ...newer bikes are hardly a luxury, madame. 1 Link to comment Share on other sites More sharing options...
Dirtyhip Posted February 11, 2018 Share #12 Posted February 11, 2018 5 minutes ago, Page Turner said: ...newer bikes are hardly a luxury, madame. Pro level ones are. 2 Link to comment Share on other sites More sharing options...
maddmaxx ★ Posted February 11, 2018 Share #13 Posted February 11, 2018 Huge hit because I got retired 12 to 18 months before I planned on it. Because I would have been collecting Social Security before I retired I lost a lot of principal in the nest egg plus a larger SS payment. I also would have been putting money in when the market was going up. As it was, 12 was still too close to 08. Link to comment Share on other sites More sharing options...
BR46 Posted February 11, 2018 Share #14 Posted February 11, 2018 52 minutes ago, Dirtyhip said: Since we live a relatively modest life. Our lifestyle will look exactly the same. We save tons, and we will no longer need to do that at such an aggressive level. We can live happily on 2000 month now, and with no bills besides utilities it should be pretty easy. We might need to have some side hustles to help with the health insurance piece and luxuries like newer bikes. race motorcycles About the same boat we are in. Looking into early retirement and would just have to work a part time gig to help with insurance and beer money race gas Link to comment Share on other sites More sharing options...
Guest Posted February 11, 2018 Share #15 Posted February 11, 2018 We’ll be good. Link to comment Share on other sites More sharing options...
Razors Edge ★ Posted February 11, 2018 Share #16 Posted February 11, 2018 Only time will tell. I can see one or two big downturns before I retire which will affect my accounts and therefore my timeline. And hopefully, retirement for me means a slow glide path from fully employed to totally retired. The sooner the descent can be started, the better, but I'm guessing we'll hit a big roadbump in the markets before then. Tom Link to comment Share on other sites More sharing options...
JerrySTL ★ Posted February 11, 2018 Share #17 Posted February 11, 2018 WoJSTL retired last year and we are doing fine. We had the new siding, gutters, garage door, and fences put up a couple of years ago plus all the appliances and HVAC system are less than 5 years old. We are having the windows replaced in March. Therefore we shouldn't have any unexpected expenses for a while. We both have money in 401s and 403s. They are in safer investments so the recent stock market woes don't hurt too much. Plus WoJSTL gets a nice retirement check from a place she worked at for 29 years. I already get my military retirement check plus a little retirement check from teaching college night classes for 16 years. We plan on waiting until we are both 66 YO to get full Social Security even though WoJSTL is already retired. That way we shouldn't miss my paycheck very much. Link to comment Share on other sites More sharing options...
Page Turner Posted February 11, 2018 Share #18 Posted February 11, 2018 2 hours ago, Dirtyhip said: Pro level ones are. ...you're probly not quite old enough yet to have figured out how much the healing process slows down when you get into your 60's and 70's. Personally, I'm a lot more careful now when I jump a mountain bike, and regularly pass up stuff I used to take routinely. So at least in my case, ten year old bikes are plenty pro enough for what I do. And you've already seen what I ride for road here.......nothing newer than early 90's. Might be different if I were interested in age class competition, but thankfully I'm not. A lot of the road bikes I post photos of were pro level in their day. I guess what I'm saying is that it's dubious that you will be the one person whose shralping abilities don't decline a little, and that being the sensible young woman you are, you'll recognize this before you get badly injured trying something you just don't have the reflexes to pull off any more. I might be just a wuss, but I have this mental image of one bad fall translating into spending the remainder of my years in the day room of the home, fighting over what channel to watch. Not pretty. 2 Link to comment Share on other sites More sharing options...
petitepedal ★ Posted February 11, 2018 Share #19 Posted February 11, 2018 I don't know if I will ever be able to retire I struggled job/career wise for a good 15 to 20 years....under employed and well struggling with a career direction...where I am at now..is what I was hoping to get into back then...So what little retirement I had back in the late 90's eventually went toward my Condo....and that was a buy high situation So I have whatever I have accumulated in the past 16 years..SSI and whatever I can accumulate between now and when I retire...I am putting about twice as much in the retirement account due to changes in our benefits and cost...but....it ain't gonna be pretty... Link to comment Share on other sites More sharing options...
Dottleshead ★ Posted February 11, 2018 Share #20 Posted February 11, 2018 38 minutes ago, Page Turner said: I might be just a wuss, but I have this mental image of one bad fall translating into spending the remainder of my years in the day room of the home, fighting over what channel to watch. Not pretty. No. This is smart thinking. DH is obviously fit and slender but bones often become brittle regardless of the physical health you are in Link to comment Share on other sites More sharing options...
Dottleshead ★ Posted February 11, 2018 Share #21 Posted February 11, 2018 ... besides... I often wonder if you aren't more of a risk taker than the rest of us, Paige. Link to comment Share on other sites More sharing options...
Dottleshead ★ Posted February 11, 2018 Share #22 Posted February 11, 2018 Link to comment Share on other sites More sharing options...
maddmaxx ★ Posted February 11, 2018 Share #23 Posted February 11, 2018 44 minutes ago, Page Turner said: ...you're probly not quite old enough yet to have figured out how much the healing process slows down when you get into your 60's and 70's. Personally, I'm a lot more careful now when I jump a mountain bike, and regularly pass up stuff I used to take routinely. So at least in my case, ten year old bikes are plenty pro enough for what I do. And you've already seen what I ride for road here.......nothing newer than early 90's. Might be different if I were interested in age class competition, but thankfully I'm not. A lot of the road bikes I post photos of were pro level in their day. I guess what I'm saying is that it's dubious that you will be the one person whose shralping abilities don't decline a little, and that being the sensible young woman you are, you'll recognize this before you get badly injured trying something you just don't have the reflexes to pull off any more. I might be just a wuss, but I have this mental image of one bad fall translating into spending the remainder of my years in the day room of the home, fighting over what channel to watch. Not pretty. Just keep a bag or two of frozen peas around. 2 Link to comment Share on other sites More sharing options...
Longjohn ★ Posted February 11, 2018 Share #24 Posted February 11, 2018 4 hours ago, RalphWaldoMooseworth said: We will take quite a hit. The only expense I can see loosing is commuting. So the Longjohn life is being elusive, dangit!. My retirement income is less than half what my working income was. I think that is enough. Some of our charible giving may have to be adjusted in the future. My Medicare Advantage plan is crap compared to the insurance I had when working. I don’t have a lot of living expenses. A lot of the things we give money to support I decided to leave at the same level that they were when I was making twice as much and see how it goes. It’s almost been two years since I retired and we are doing ok. Some of my charitable giving will probably shift more to giving my time and less giving my money. You can’t give what you don’t have. 4 Link to comment Share on other sites More sharing options...
maddmaxx ★ Posted February 11, 2018 Share #25 Posted February 11, 2018 Medical expenses and sudden repairs of your home or car are the unplanned things that can ruin you plans. Or somebody unplanned coming to live with you. 1 Link to comment Share on other sites More sharing options...
Dottleshead ★ Posted February 11, 2018 Share #26 Posted February 11, 2018 15 minutes ago, maddmaxx said: Medical expenses and sudden repairs of your home or car are the unplanned things that can ruin you plans. For this reason, our plans are to seriously down size, own outright, and max out insurance. They have senior living communities that's an option here. You own your home albeit not large and I believe some HOA dues. If I can own my own home, maybe live near a bus line, have solid income w/ SS, 401K, and other funds, and I have solid medical insurance, it's a big start. I think my monthly funding will be ok. The value of my home has already gone up $50k in a year. If that continues, DH may get some new neighbors. The plan was always to move again as there is no way to pay off this house before we retire. Link to comment Share on other sites More sharing options...
Longjohn ★ Posted February 11, 2018 Share #27 Posted February 11, 2018 5 minutes ago, maddmaxx said: Medical expenses and sudden repairs of your home or car are the unplanned things that can ruin you plans. Or somebody unplanned coming to live with you. My shoulder repair cost me a lot of money I wasn’t expecting to pay. I have been doing well with my car. Last week I was losing brake fluid and it was zero degrees out with a foot of snow. I can’t fit a car in my garage because it’s full of stuff. I took it to a shop and had them find the leak. Bad caliper, they said it would be $260. I told them it was lifetime warranty and I would bring them a new one. They charged me $69 to install the new one. Doing your own car repairs or knowing where to take your car can save you a lot of money. 1 Link to comment Share on other sites More sharing options...
Dottleshead ★ Posted February 11, 2018 Share #28 Posted February 11, 2018 1 minute ago, Longjohn said: Doing your own car repairs or knowing where to take your car can save you a lot of money. Yes, unfortunately this not a skill in my wheel house. Link to comment Share on other sites More sharing options...
groupw Posted February 11, 2018 Share #29 Posted February 11, 2018 Looking at 9-10 years away. We are paying down a couple mistakes we made. They should be gone in a couple years. Our mortgage will be paid off right at retirement age. Debating if we should pay off the mortgage early or put the extra money directly into savings. Beyond SS, whatever that meat be then, we each have some pension money from a former employer, 401k is on a decent growth path even with market corrections. There may be some rental income depending on what WoW’s family decides to do with some rental properties after MIL passes. Link to comment Share on other sites More sharing options...
Page Turner Posted February 11, 2018 Share #30 Posted February 11, 2018 1 hour ago, dotman17 said: ... besides... I often wonder if you aren't more of a risk taker than the rest of us, Paige. ...I have been in some higher risk environments, but there's no way I'm gonna risk losing the argument over whether the TV in the day room is tuned to Oprah or Fox News. 1 1 Link to comment Share on other sites More sharing options...
Wilbur ★ Posted February 11, 2018 Author Share #31 Posted February 11, 2018 13 minutes ago, Page Turner said: ...I have been in some higher risk environments, but there's no way I'm gonna risk losing the argument over whether the TV in the day room is tuned to Oprah or Fox News. Only two channels? Link to comment Share on other sites More sharing options...
maddmaxx ★ Posted February 11, 2018 Share #32 Posted February 11, 2018 You don't need Continentals. You can always get by on a lesser tire. Link to comment Share on other sites More sharing options...
Ralphie ★ Posted February 11, 2018 Share #33 Posted February 11, 2018 1 hour ago, dotman17 said: Yes, unfortunately this not a skill in my wheel house. Knowing where to take it is something you can work on. Link to comment Share on other sites More sharing options...
Ralphie ★ Posted February 11, 2018 Share #34 Posted February 11, 2018 Sadly in NJ getting the mortgage paid off is not the big deal you would expect since my property taxes are darn near the same as the mortgage was. And the Homeowners insurance - damn! I think that has gone up aboot 10 fold from when it started in 1986. I suspect I am getting rolled for staying with the same company for 30 years (reverse loyalty discount. ), but I think we are all paying for hurricanes and the like. Link to comment Share on other sites More sharing options...
JerrySTL ★ Posted February 11, 2018 Share #35 Posted February 11, 2018 2 hours ago, dotman17 said: Yes, unfortunately this not a skill in my wheel house. In that case you should do all your medical needs at home. 1 Link to comment Share on other sites More sharing options...
Page Turner Posted February 11, 2018 Share #36 Posted February 11, 2018 1 hour ago, Wilbur said: Only two channels? ...you think I'll be able to afford the care home with cable ? Two channels, and you only get one of them (with some snow) if they make Fred hang tin foil from his arms and grab the rabbit ears. 1 Link to comment Share on other sites More sharing options...
BR46 Posted February 12, 2018 Share #37 Posted February 12, 2018 If I need extra money in retirement I can always make extra money building bike racks for the backs of motorhomes. 1 2 Link to comment Share on other sites More sharing options...
Dirtyhip Posted February 12, 2018 Share #38 Posted February 12, 2018 4 hours ago, Page Turner said: ...you're probly not quite old enough yet to have figured out how much the healing process slows down when you get into your 60's and 70's. Personally, I'm a lot more careful now when I jump a mountain bike, and regularly pass up stuff I used to take routinely. So at least in my case, ten year old bikes are plenty pro enough for what I do. And you've already seen what I ride for road here.......nothing newer than early 90's. Might be different if I were interested in age class competition, but thankfully I'm not. A lot of the road bikes I post photos of were pro level in their day. I guess what I'm saying is that it's dubious that you will be the one person whose shralping abilities don't decline a little, and that being the sensible young woman you are, you'll recognize this before you get badly injured trying something you just don't have the reflexes to pull off any more. I might be just a wuss, but I have this mental image of one bad fall translating into spending the remainder of my years in the day room of the home, fighting over what channel to watch. Not pretty. There are plenty of lines that I don't take. I choose to walk certain features, cause I am playing my long game. Remember the drops at Bachelor that I talk about. Baby bear, momma bear and big daddy. I had dreams and aspirations of jumping off big daddy. It's a good 20 foot drop. I have decided that I am perfectly fine with sticking with baby and momma. Big Daddy has been put to bed and I don't think that anymore. Maybe, next life. I am not quite ready to just only ride older bikes and avoid jumps. I am quite skilled at some of this crap that I pull off. I do dismount for plenty of stuff. I got off my bike yesterday on Heckletooth. I probably could ride those few features that I chickened out on, but there is a significant drop that might send you a good 50+ feet down, if you fuck up. I walked it. Then, I got back on my bad ass bike and continued to rally the rest of the trail. Do know this. I am not a dummy. There is no death wish here, but I enjoy some excitement. I am not sure why this derailed into a talk about me going over the hill, Page. I was merely talking about adjusting my income in retirement, and that I really don't want to give up having nice rides. ...Oh, and I won't be 60 when I retire. I'll be young enough to still rally a bit. 1 Link to comment Share on other sites More sharing options...
Scrapr ★ Posted February 12, 2018 Share #39 Posted February 12, 2018 2 hours ago, Page Turner said: ...I have been in some higher risk environments, but there's no way I'm gonna risk losing the argument over whether the TV in the day room is tuned to Oprah or Fox News. Can you pack heat in the community room? ummm....asking for a friend 1 1 Link to comment Share on other sites More sharing options...
Dottleshead ★ Posted February 12, 2018 Share #40 Posted February 12, 2018 3 hours ago, RalphWaldoMooseworth said: Knowing where to take it is something you can work on. My old man hates cars. So guess who grew up auto mechanic deficient? I mean, I can jump the car, mind you, and I can replace my windshield wipers, bubba, and even change the oil with a shotgun at my back, or change a tire. But if it's any kind of engine, wheel joints, etc... what am I going to do about it?? Give my friend a jingle or open my wallet. Dems da facts, sir. 1 Link to comment Share on other sites More sharing options...
Page Turner Posted February 12, 2018 Share #41 Posted February 12, 2018 3 hours ago, Dirtyhip said: Do know this. I am not a dummy. There is no death wish here, but I enjoy some excitement. I am not sure why this derailed into a talk about me going over the hill, Page. I was merely talking about adjusting my income in retirement, and that I really don't want to give up having nice rides. ...Oh, and I won't be 60 when I retire. I'll be young enough to still rally a bit. ...I was only pointing out that you can probably make do with the bikes that are about at the same level of technical sophistication that you now own. Really, I was trying to put your mind at ease in terms of your expenses. Stuff that was pro a few years back is way cheaper cause it's used. Link to comment Share on other sites More sharing options...
Kirby Posted February 12, 2018 Share #42 Posted February 12, 2018 I'll have a very small pension from my company, so most of my retirement spending will come from my own savings. I've adjusted my asset allocation as I get older to be more conservative, and I'm trying to save cash reserves that I could use in a "correction". Even under the good projections, my income will take a hit, but then I won't need money to put into my 401(k). My problem is that I'm a worrier, and even if I'd likely be fine, I think I'd tend to be more careful with spending splurges just knowing that I won't have a salary coming in. 1 Link to comment Share on other sites More sharing options...
Dirtyhip Posted February 12, 2018 Share #43 Posted February 12, 2018 49 minutes ago, Page Turner said: ...I was only pointing out that you can probably make do with the bikes that are about at the same level of technical sophistication that you now own. Really, I was trying to put your mind at ease in terms of your expenses. Stuff that was pro a few years back is way cheaper cause it's used. I do appreciate you looking out. I'm having a tough time with turning 50. AARP is mailing me. You're reminding me that my schralp days are numbered is not a happy feeling. These years are passing too quickly. Link to comment Share on other sites More sharing options...
tybeegb Posted February 12, 2018 Share #44 Posted February 12, 2018 So far so good, after eight years. We were more lucky than wise. 1 Link to comment Share on other sites More sharing options...
12string Posted February 12, 2018 Share #45 Posted February 12, 2018 IF I can stay employed for another 10 years or so, I should be OK. A lot depends on how I (and my 401K) navigate the next year in the market, it's going to correct rather drastically. My wife gets a pittance of a pension, if it is still there when the time comes. I'll need the SS an Medicare $$, too. But the house will paid off in a couple years (though that's only a couple hundred) and with the kids grown, we've been able to put more money away. And I'll have way more time to work on the house, fix my cars, grow my food...... Link to comment Share on other sites More sharing options...
Page Turner Posted February 12, 2018 Share #46 Posted February 12, 2018 13 hours ago, Dirtyhip said: I do appreciate you looking out. I'm having a tough time with turning 50. AARP is mailing me. You're reminding me that my schralp days are numbered is not a happy feeling. These years are passing too quickly. ...don't put off until tomorrow, the schralp you can schralp today. Link to comment Share on other sites More sharing options...
Prophet Zacharia Posted February 12, 2018 Share #47 Posted February 12, 2018 I have 52.5 months until my kids graduate from high school. At that point, my mortgage and all other debts should be paid off. College tuition assistance is saved. At that point I will begin decreasing work responsibilities AND increasing time away from snowy Pittsburgh during the winter. This time away will gradually build, ultimately resulting in working part time, 8 or 9 months a year and snow birding. By doing this, I should not have any impact on my life style as I transition from full to part time to fully retired. Link to comment Share on other sites More sharing options...
Zephyr Posted February 12, 2018 Share #48 Posted February 12, 2018 Other than buying myself all new dive gear because it won't be provided anymore, everything should remain status quo when I pull the chute. I do have another 6+ to go before that happens Link to comment Share on other sites More sharing options...
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