I'm very much in agreement with you Norman. I also worked long and made the most of my options on the jobs. All the overtime and shift differential bonus over the decades really added up. I maxed out my retirement opportunities as far as I could, and didn't have to think about that much. For instance, with S.S. my official 'full retirement' age was 66. BUT, at 67, I would receive more, 68 even more! My FULL retirement was 70 for me. I did what I could to get the most and then not have to worry about it. Of course, married folk have many options and having a plan for that circumstance is prudent. So, yes, work long, work wise and enjoy the freedom of time and money in retirement. Freedom to be productive as you want and decide to do.
I believe Mr. Quinn possibly has a life style that lends its self to retirement success. Using spreadsheets and intensely studying investment prospects doesn't help these folk as much.
Someone that can not, will not separate wants, from needs certainly will have to spend more time and effort in the ol investment research game to nail a healthy retirement.
Both my sons know the value of paying off a loan such as their homes. It raises your net spendable every month. If one paid for home is good, isn't two better? I showed my neighbor a leaky wealth bucket illustration and applied the concept to her home payment. At the end she said, 'I'll talk to Joan, she's really smart with mortgages.' Sigh...of course those people make money from keeping you in debt. Then, just last month she mentioned that she bought a $1200 . . . heated bidet toilet seat. I think a lifetime of simply living well within means and maximizing any retirement benefits offered will go a very long way for a comfortable retirement.
Mostly because if the means change, the retirees living also will by nature.
Good going! I quit cold turkey, boy I wasn't ready for the stress of having no schedule to follow. It took months for my to be able to relax, and just chill if I want. I volunteer and have 'home work' as well and have learned...'one thing a day' and quit.
After over a half century of working, it takes concentration to not do anything!
So much concern and diversion in these comments coming from the ol stock/bond investment conundrum.
I've got a little different approach as my Schwab account is so very sparse.Rather, my legacy is in rental homes, paid off and producing quite reliable income for a trust to pass on.
Paid for means a lot of freedom and less angst in an investment. If the proverbial fan get to splattering, I have options of lowering the rent to a manageable amount for my people to...manage and still have money for taxes and insurance. I don't have to make a profit for a while you see.
Now, I learned something during COVID when folks lost their jobs and of course in danger of loosing their housing. When I had a call from a tenant, I assured him I could let him skip a payment of two and not loose his home. Then, of course came the stimulus checks... and most folks used the money to be rent paid up.
One though, made different decisions and spent the windfall unwisely. They were the only ones to fall behind so they had to leave after the lease was not renewed. They were several months behind in rent, but had applied to the state for financial help.
The result was about 2 months later the manager got a big ol check from the government and we all got paid and the tenants got their deposit back. I realized after thinking about it, that the big business housing lobbyists had gotten the taxpayers to pay my tenants back rent.
I'm giving my Roth proceeds to my boys monthly. They get $5000 per year to put in their own Roth accounts. It's a way they can have an inheritance while I'm still above the grass.
But I realize that's not part of what you were asking.
Yeppers! It's time plus consistency that is a basic investment procedure to have success. SS is so simple and if we take advantage of the opportunity, it can last the rest of our lives, allowing us to live large.
The yellow cloth bag I really like is one I received for volunteering. It's hand made by a very nice lady who loves to sew, and does such a super job with tons of love.
This is something not found in some store. And I also wish I could share a picture. Hmmmm gotta be a way.
Yes Sir Richard, I agree... I've also got several annuities that I've cultured over my working years to secure guaranteed income. My retirement income is generated by 5 lifetime payments accounts.
Absolutely, I do pay fees and taxes galore. But when adding my net from the deposits to the banks, there is just over $10,110 per month in 2025 from all of the retirement accounts. So, why not still be happy? One little trick was to switch the Traditional IRA around to different companies, finding firms that offer so many percent bonus to a switched account. After 5 or 10 or whatever years, the money is credited to the account. When the amount deposited is fairly large, the bonus is also! Doing several switches over the years of the growth period, adds quite an amount to the balance. This naturally gives a better payout. There's other ways to max the account balance that is dependent on the individuals situation and the account that is being grown.
Finding the tricks and following the protocol discovered gives the best results.
Comments
I'm very much in agreement with you Norman. I also worked long and made the most of my options on the jobs. All the overtime and shift differential bonus over the decades really added up. I maxed out my retirement opportunities as far as I could, and didn't have to think about that much. For instance, with S.S. my official 'full retirement' age was 66. BUT, at 67, I would receive more, 68 even more! My FULL retirement was 70 for me. I did what I could to get the most and then not have to worry about it. Of course, married folk have many options and having a plan for that circumstance is prudent. So, yes, work long, work wise and enjoy the freedom of time and money in retirement. Freedom to be productive as you want and decide to do.
Post: Change Lanes, Expand Your Wheelhouse, Learn Some New Tricks
Link to comment from June 14, 2025
I believe Mr. Quinn possibly has a life style that lends its self to retirement success. Using spreadsheets and intensely studying investment prospects doesn't help these folk as much. Someone that can not, will not separate wants, from needs certainly will have to spend more time and effort in the ol investment research game to nail a healthy retirement. Both my sons know the value of paying off a loan such as their homes. It raises your net spendable every month. If one paid for home is good, isn't two better? I showed my neighbor a leaky wealth bucket illustration and applied the concept to her home payment. At the end she said, 'I'll talk to Joan, she's really smart with mortgages.' Sigh...of course those people make money from keeping you in debt. Then, just last month she mentioned that she bought a $1200 . . . heated bidet toilet seat. I think a lifetime of simply living well within means and maximizing any retirement benefits offered will go a very long way for a comfortable retirement. Mostly because if the means change, the retirees living also will by nature.
Post: Is it possible to achieve financial well being without a plan or even a spreadsheet?
Link to comment from May 31, 2025
Good going! I quit cold turkey, boy I wasn't ready for the stress of having no schedule to follow. It took months for my to be able to relax, and just chill if I want. I volunteer and have 'home work' as well and have learned...'one thing a day' and quit. After over a half century of working, it takes concentration to not do anything!
Post: Almost There
Link to comment from May 24, 2025
So much concern and diversion in these comments coming from the ol stock/bond investment conundrum. I've got a little different approach as my Schwab account is so very sparse.Rather, my legacy is in rental homes, paid off and producing quite reliable income for a trust to pass on. Paid for means a lot of freedom and less angst in an investment. If the proverbial fan get to splattering, I have options of lowering the rent to a manageable amount for my people to...manage and still have money for taxes and insurance. I don't have to make a profit for a while you see. Now, I learned something during COVID when folks lost their jobs and of course in danger of loosing their housing. When I had a call from a tenant, I assured him I could let him skip a payment of two and not loose his home. Then, of course came the stimulus checks... and most folks used the money to be rent paid up. One though, made different decisions and spent the windfall unwisely. They were the only ones to fall behind so they had to leave after the lease was not renewed. They were several months behind in rent, but had applied to the state for financial help. The result was about 2 months later the manager got a big ol check from the government and we all got paid and the tenants got their deposit back. I realized after thinking about it, that the big business housing lobbyists had gotten the taxpayers to pay my tenants back rent.
Post: Feeling Moody
Link to comment from May 24, 2025
I'm giving my Roth proceeds to my boys monthly. They get $5000 per year to put in their own Roth accounts. It's a way they can have an inheritance while I'm still above the grass. But I realize that's not part of what you were asking.
Post: Gifting Confusion
Link to comment from May 17, 2025
A fellow once asked me, 'what kind of money would you have to have invested, to get the payout provided?' And get the COLA to boot.
Post: You versus Social Security – Quinn is betting against you.
Link to comment from May 3, 2025
Yeppers! It's time plus consistency that is a basic investment procedure to have success. SS is so simple and if we take advantage of the opportunity, it can last the rest of our lives, allowing us to live large.
Post: You versus Social Security – Quinn is betting against you.
Link to comment from May 3, 2025
The yellow cloth bag I really like is one I received for volunteering. It's hand made by a very nice lady who loves to sew, and does such a super job with tons of love. This is something not found in some store. And I also wish I could share a picture. Hmmmm gotta be a way.
Post: The Opposite of HumbleDollar
Link to comment from May 3, 2025
Bravo! My wife learned through this same practice.
Post: It’s 2025. Do you send checks by mail?
Link to comment from May 3, 2025
Yes Sir Richard, I agree... I've also got several annuities that I've cultured over my working years to secure guaranteed income. My retirement income is generated by 5 lifetime payments accounts. Absolutely, I do pay fees and taxes galore. But when adding my net from the deposits to the banks, there is just over $10,110 per month in 2025 from all of the retirement accounts. So, why not still be happy? One little trick was to switch the Traditional IRA around to different companies, finding firms that offer so many percent bonus to a switched account. After 5 or 10 or whatever years, the money is credited to the account. When the amount deposited is fairly large, the bonus is also! Doing several switches over the years of the growth period, adds quite an amount to the balance. This naturally gives a better payout. There's other ways to max the account balance that is dependent on the individuals situation and the account that is being grown. Finding the tricks and following the protocol discovered gives the best results.
Post: RDQ Sorry folks, I still see annuities, including deferred annuities, as a viable option for creating steady retirement income.
Link to comment from April 27, 2025