Retirement Salvage

[lorenzo b]

Jeeze, was it yesterday that the DOW cracked 12.7?
It's a few points from cracking 12.8.
Time to stock up on tea bags and gold.

[Khagan1227]

Capngeo, would love to hear what your final decision will be. A good frined of mine waited and waited to retire because he "heard" there was going to be a buy out.

Today is his last day and he is leaving $80K richer, after taxes because the buyout wasn't protected like his lump sum.

[capngeo]

Well.... The Florida legislature has more or less spared us for a year. No sweeping changes, other than us putting in 3% more than last year. So I guess I'll work at least another year and see what shakes then.

I do believe though, I've decided that the lump sum, and real estate is the way to go, and I now have a year to work out the trust part. I think my next big decision is to decide if Key West real estate has bottomed yet... I might be better bailing and buying now than next year.... I think Boatman is right, poorer means less worries, but the cruising on $500/mo just doesn't sound right for me!

[dohenyboy]

Keep investing in rental real estate if only for the reason that you know what you are doing.
I cannot imagine retiring at 52. I retired at 47 and got bored. Very bored.
I plan to work until at least my mid 70s.
I think it keeps you young.
I also plan to have 3-4 kids in my 70s too haha.

[JanetGroene]

Don't fall for that COLA baloney. Grocery and energy prices are not included in the COLA index yet these costs are leaping like wildfire. Government tells us we have no inflation. That's true only if you don't eat or use fuel. Guys who don't do the grocery shopping, and people who shop often, may not notice this relentless rise but I provision only about every two weeks and I can't believe the changes I am seeing in only two weeks.

[smurphny]

Originally Posted by JanetGroene

Don't fall for that COLA baloney. Grocery and energy prices are not included in the COLA index yet these costs are leaping like wildfire. Government tells us we have no inflation. That's true only if you don't eat or use fuel. Guys who don't do the grocery shopping, and people who shop often, may not notice this relentless rise but I provision only about every two weeks and I can't believe the changes I am seeing in only two weeks.

So true. My food bill has doubled over the last 6 years. My health insurance has almost tripled. Being single, this is an easy number to quantify. 2005=$35 per week 2011=$70 per week. Gas has more than doubled. WHY DO AMERICANS KEEP BELIEVING THE MISINFORMATION pushed by U.S. representatives (of insurance companies, bankers, and lobbyists)? It is difficult to predict the cost of essential provisions for cruising given the wild gyrations in exchange rates, runaway inflation in foreign countries and the uncertainty of the world economic picture.

[webejammin]

I'm 61 this year and I have only worked for one company long enough to get some retirement about $150 a month Ha. Glad I bought an apt complex 11 years ago and in the last 2.5 years sence the housing bubble busted my rents have doubled and now I have some crusing money coming in monthly. I really don't see another housing bubble in the USA's future. I'm glad I planned for myself instead of depending on some corperation or bank to help my money grow

[Capt Phil]

I used Hud3's financial planning program... took the lump sum and ran to the nearest IRA. At least I have control over my $. I watch the markets carefully, invest conservatively and spend my twilight years enjoying family and friends. My feeling is that many states are in serious financial trouble and within 2-3 years will have to be bailed out by the feds who cannot allow states to file for bankruptcy so muni and state bonds are not in my portfolio. Capt Phil