Retirement plan status
09-09-2018, 06:55 AM
#191
Thread Starter
I think Dave’s initial comment was facetious, Ken.
Health insurance or “health care for all” is the same basic approach. You pool the risk and pool the funds to pay for it. You then have some group of administrators between you and the health care providers. If they are not employees in a private company, they are employees in the government. When it comes to health care there is a good argument that it should be government controlled because it impacts every citizen and one entity could handle the administration more efficiently than multiple private companies. Plus we already have elements of government managed health care with Medicare, Obama Care, and Medicaid. After that it is all about which economic and political theory you endorse. Private companies are more efficient versus private companies are greedy and corrupt; the government works for us versus the government is inefficient and corrupt.
Health insurance or “health care for all” is the same basic approach. You pool the risk and pool the funds to pay for it. You then have some group of administrators between you and the health care providers. If they are not employees in a private company, they are employees in the government. When it comes to health care there is a good argument that it should be government controlled because it impacts every citizen and one entity could handle the administration more efficiently than multiple private companies. Plus we already have elements of government managed health care with Medicare, Obama Care, and Medicaid. After that it is all about which economic and political theory you endorse. Private companies are more efficient versus private companies are greedy and corrupt; the government works for us versus the government is inefficient and corrupt.
09-09-2018, 06:59 AM
#192
09-17-2018, 12:58 PM
#194
Registered User
i have enjoyed reading all of this.
I am 68, next year I will retire @ 69, after 40 years of running my own company. i have had partners and they are long gone. i will sell to my son who has been with me for 5 years and is ready. I bought my business from my father who started it in 1947, I am an independent insurance agent/broker who owns his own agency. i look forward to that date, next June. I can work forever if I wish. My dad got out when he was about 70 and had more health issues than i have, he lived to be 92, my mom is 101 and still here!
I am in great health and work at it...that's key to any retirement....if not now then when???
I have friends to moved to Venice FL which was cheaper than Bend Ore and has no snow. They built a cage around their yard for gaters and snakes....and have weather issues. In Bend they had snow. I have another friend who moved to Kansas, got a two bed home, no garage, for $40,000 , that's right, but it's in nowhere Kansas...I don't see any of this being good for me, although much cheaper than my current situation.
If i see a move it maybe to a cheaper county in the SF bay area, as that is my home and where my family and friends are. I can then access my equity with no added debt.
my work week is now about 4 days....sometimes 5. And my hours are 16-20 a week, usually the smaller number, which is like a vacation for someone who has worked 60 hours a week in past. i am not a workaholic and do not wear my profession on my sleeve and do not wish to die at my desk.
I have been doing this for a very very long time!
I am leaving because I want to leave......
I have had enough of work life , worked since I was 16 or went to school full time, three degrees. My kids are launched and have no college debt. I have little debt as I have a mortgage which I set up a while ago which is affordable. I have no other debt. Elimination of debt has been a large priority in my plans. Will I have enough money? good question.
I got divorced 8 years ago, lost 1/2 of everything I ever earned, it's Calif and it was a fair settlement. Loosing that partnership meant I had almost no retirement, as all through my spouses work life we took the 401K limit and I had a personal IRA for her as well. She is getting several checks a month and is still working. So my retirement started 10 years ago....
I have built up a personal ira, self directed. I have a small roth self directed. and an investment account. I love to trade and can with Merrill for 100 free trades a month which helps. I max out my IRA contributions every year as well.
My home has been my best investment, bought out the wife, living here for 30 years and best of all it is silicon valley so i have done well...it's all equity almost and increasing every month. i have had offers from Google and Amazon and Facebook employees directly to buy my place, not for sale yet.
How much do I need? As much as possible, things cost more each year,period. So I hope to have enough, nobody and no tables can tell me the correct figure. I get my SSA money every second Wednesday of the month, that helps. I took my money at age 65.....if you wait and can add8% a year it takes 12 years to break even and I invest the SSA money anyway, so I did not want to wait.
I am on my own, if I am fortunate enough to find another life partner things can change, two can live cheaper than one etc....
Friends, well some have consultants, finance people, financial advisors. I have my cpa who is great, i bounce my plans off him and his wife who works with them, personal friends and clients forever.....its good to have a personal finance consultant who is not interested is selling you anything. I have no mutual funds, just individual stocks. Average return is about 10% for the industry as a whole, I have averaged better than that, I take risks cause I feel I have little choice.
My interests include nonprofit board work, been giving back forever....cars....home maintenance, yard work....stocks....art...cooking....film....I am somewhat eclectic ....My retirement plans are:
have little responsibility to anyone for the first time in decades....do what I want each day...develop new interests and meet new people, more travel with the right person. I also have a collie and walk him all the time....
So far, so good....
my average return for over 10 years is about 15%, some years, like this one, are way better. I am lucky. My guru is Jim Kramer, have his books, watch his show, he has kept me in the home gamer status for a long time....
I am 68, next year I will retire @ 69, after 40 years of running my own company. i have had partners and they are long gone. i will sell to my son who has been with me for 5 years and is ready. I bought my business from my father who started it in 1947, I am an independent insurance agent/broker who owns his own agency. i look forward to that date, next June. I can work forever if I wish. My dad got out when he was about 70 and had more health issues than i have, he lived to be 92, my mom is 101 and still here!
I am in great health and work at it...that's key to any retirement....if not now then when???
I have friends to moved to Venice FL which was cheaper than Bend Ore and has no snow. They built a cage around their yard for gaters and snakes....and have weather issues. In Bend they had snow. I have another friend who moved to Kansas, got a two bed home, no garage, for $40,000 , that's right, but it's in nowhere Kansas...I don't see any of this being good for me, although much cheaper than my current situation.
If i see a move it maybe to a cheaper county in the SF bay area, as that is my home and where my family and friends are. I can then access my equity with no added debt.
my work week is now about 4 days....sometimes 5. And my hours are 16-20 a week, usually the smaller number, which is like a vacation for someone who has worked 60 hours a week in past. i am not a workaholic and do not wear my profession on my sleeve and do not wish to die at my desk.
I have been doing this for a very very long time!
I am leaving because I want to leave......
I have had enough of work life , worked since I was 16 or went to school full time, three degrees. My kids are launched and have no college debt. I have little debt as I have a mortgage which I set up a while ago which is affordable. I have no other debt. Elimination of debt has been a large priority in my plans. Will I have enough money? good question.
I got divorced 8 years ago, lost 1/2 of everything I ever earned, it's Calif and it was a fair settlement. Loosing that partnership meant I had almost no retirement, as all through my spouses work life we took the 401K limit and I had a personal IRA for her as well. She is getting several checks a month and is still working. So my retirement started 10 years ago....
I have built up a personal ira, self directed. I have a small roth self directed. and an investment account. I love to trade and can with Merrill for 100 free trades a month which helps. I max out my IRA contributions every year as well.
My home has been my best investment, bought out the wife, living here for 30 years and best of all it is silicon valley so i have done well...it's all equity almost and increasing every month. i have had offers from Google and Amazon and Facebook employees directly to buy my place, not for sale yet.
How much do I need? As much as possible, things cost more each year,period. So I hope to have enough, nobody and no tables can tell me the correct figure. I get my SSA money every second Wednesday of the month, that helps. I took my money at age 65.....if you wait and can add8% a year it takes 12 years to break even and I invest the SSA money anyway, so I did not want to wait.
I am on my own, if I am fortunate enough to find another life partner things can change, two can live cheaper than one etc....
Friends, well some have consultants, finance people, financial advisors. I have my cpa who is great, i bounce my plans off him and his wife who works with them, personal friends and clients forever.....its good to have a personal finance consultant who is not interested is selling you anything. I have no mutual funds, just individual stocks. Average return is about 10% for the industry as a whole, I have averaged better than that, I take risks cause I feel I have little choice.
My interests include nonprofit board work, been giving back forever....cars....home maintenance, yard work....stocks....art...cooking....film....I am somewhat eclectic ....My retirement plans are:
have little responsibility to anyone for the first time in decades....do what I want each day...develop new interests and meet new people, more travel with the right person. I also have a collie and walk him all the time....
So far, so good....
my average return for over 10 years is about 15%, some years, like this one, are way better. I am lucky. My guru is Jim Kramer, have his books, watch his show, he has kept me in the home gamer status for a long time....
09-17-2018, 01:15 PM
#195
Sounds like you have a good life plan and financial plan; hell you are all set. Just need a partner to enjoy it with.
09-18-2018, 08:27 AM
#198
09-18-2018, 01:40 PM
#200
Join Date: Aug 2012
Location: Foothills East of Sacramento
Posts: 5,872
Received 1,722 Likes
on
1,027 Posts