Right around this time, about 17-18 years ago, another meltdown was happening. I had always been 95+% in mutual funds, but pulled a bunch out and into money market but kept contributing monthly to my 457 and IRA. Getting antsy to get back into the stock funds, my plain dumb luck got me back in at about the bottom. Until now. I am backing off (as I probably should at my age of 77), although I am envious of the opportunity that young people will have at some point going forward, I just don’t know if I will get to see it.
No. How much is enough? I am retired, travel, play golf, go to the gym, volunteer, etc. I may not stay in the fanciest hotels, or fly 1st class, but I wouldn’t trade my life and adventures to be uber wealthy. Also, the other problems of being in the mega-group.
I had traditional IRAs, ROTHs, and a 457 savings plan through my county employment. I would have put more into my ROTH, and, as a veteran I should have checked on buying my service early in my career to have added time to my pension, as later it got too expensive. I didn’t know that buying it was available at my county level.
I agree. It seems that most of the people arguing for investment are the ones looking back, so as usual, hindsight is 20/20. It would probably only work if 1) you got extremely lucky with your choice of investments, or 2) it was a mandatory investment into mutual fund type of investment. Do you choose the stock or bond option? What combination/percentage of each? These options were very new when I started working a long time ago.
I always find it interesting how many state and local government employees have their pensions fully funded by the government. In Minnesota, we split the contribution just like Social Security, at about the same rate. I would have enjoyed having that 7-8% for me to add to my 457 plan or IRA.
I recall a similar talk, but with a friend who constantly harped on us to get started with our 457 savings plan. I was one of the few (only one?) who did, and I still cannot believe the difference it has made (along with our IRAs) in our lives, being able to do just about anything and everything we want.
We were in Banff in September, and judging by the crowds, it is doing fine. Jasper, however, is different. The highway was closed so we couldn’t even consider visiting.
Comments
Right around this time, about 17-18 years ago, another meltdown was happening. I had always been 95+% in mutual funds, but pulled a bunch out and into money market but kept contributing monthly to my 457 and IRA. Getting antsy to get back into the stock funds, my plain dumb luck got me back in at about the bottom. Until now. I am backing off (as I probably should at my age of 77), although I am envious of the opportunity that young people will have at some point going forward, I just don’t know if I will get to see it.
Post: Twenty-five years ago today… by Sanjib Saha
Link to comment from March 29, 2025
I did until I took one. Now I kick myself for not cruising sooner.
Post: Taking on Water by Jonathan Clements
Link to comment from March 22, 2025
No. How much is enough? I am retired, travel, play golf, go to the gym, volunteer, etc. I may not stay in the fanciest hotels, or fly 1st class, but I wouldn’t trade my life and adventures to be uber wealthy. Also, the other problems of being in the mega-group.
Post: Care to join me on my yacht cruising the Mediterranean? Do you envy the super wealthy? RDQ
Link to comment from March 22, 2025
I had traditional IRAs, ROTHs, and a 457 savings plan through my county employment. I would have put more into my ROTH, and, as a veteran I should have checked on buying my service early in my career to have added time to my pension, as later it got too expensive. I didn’t know that buying it was available at my county level.
Post: What wisdom can you share?
Link to comment from February 15, 2025
I agree. It seems that most of the people arguing for investment are the ones looking back, so as usual, hindsight is 20/20. It would probably only work if 1) you got extremely lucky with your choice of investments, or 2) it was a mandatory investment into mutual fund type of investment. Do you choose the stock or bond option? What combination/percentage of each? These options were very new when I started working a long time ago.
Post: Scrap Social Security. I’ll invest what I pay in payroll taxes and do much better. SS is a scam. Really, asks RDQ
Link to comment from February 15, 2025
I always find it interesting how many state and local government employees have their pensions fully funded by the government. In Minnesota, we split the contribution just like Social Security, at about the same rate. I would have enjoyed having that 7-8% for me to add to my 457 plan or IRA.
Post: The Que sera, sera retirement planning strategy.
Link to comment from January 18, 2025
I recall a similar talk, but with a friend who constantly harped on us to get started with our 457 savings plan. I was one of the few (only one?) who did, and I still cannot believe the difference it has made (along with our IRAs) in our lives, being able to do just about anything and everything we want.
Post: The Que sera, sera retirement planning strategy.
Link to comment from January 18, 2025
We were in Banff in September, and judging by the crowds, it is doing fine. Jasper, however, is different. The highway was closed so we couldn’t even consider visiting.
Post: Would You Rebuild?
Link to comment from January 18, 2025
#1- can you afford to rebuild? Many lost insurance not long before the fires.i
Post: Would You Rebuild?
Link to comment from January 18, 2025
Yes, Minister is, in my humble opinion, the absolute BEST comedy series ever. I often rewatch episodes on YouTube.
Post: Limits of Power by Jonathan Clements
Link to comment from January 18, 2025