Comments on: What Are My Options For Retirement? http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html Living for today - Planning for Tomorrow Thu, 18 Mar 2010 17:14:15 -0700 http://wordpress.org/?v=2.9.1 hourly 1 By: John http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html/comment-page-1#comment-192129 John Fri, 27 Mar 2009 08:30:10 +0000 http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html#comment-192129 Well, I would say retire at 50 and start turning your hobbies into profession. I am going to do that for sure or maybe retire even earlier. Well, I would say retire at 50 and start turning your hobbies into profession. I am going to do that for sure or maybe retire even earlier.

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]]> By: Doctor S http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html/comment-page-1#comment-170363 Doctor S Tue, 02 Sep 2008 20:05:18 +0000 http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html#comment-170363 I am of the group that wants to retire around 50ish and be able to do it up for a good amount of years. I want to retire and be able to run my own gig so I am going to need a pretty penny by that point in life. I am of the group that wants to retire around 50ish and be able to do it up for a good amount of years. I want to retire and be able to run my own gig so I am going to need a pretty penny by that point in life.

]]> By: Jerry http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html/comment-page-1#comment-169286 Jerry Thu, 28 Aug 2008 22:23:23 +0000 http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html#comment-169286 Part of the reason that I am returning to school this Fall is so that I can work in a field that I really enjoy, so that the work doesn't lead to sheer drudgery. I had a professor once who was in his 80's, a semi-retired surgeon, and he still taught on the side as an adjunct prof because he could, and he loved it. He had a tremor which kept him from operating on people, but he knew a ton of stuff and was a fascinating guy! Also, "Savings" makes a really good point about annuities. You can do things in phases and that can help it along. Jerry Part of the reason that I am returning to school this Fall is so that I can work in a field that I really enjoy, so that the work doesn’t lead to sheer drudgery. I had a professor once who was in his 80’s, a semi-retired surgeon, and he still taught on the side as an adjunct prof because he could, and he loved it. He had a tremor which kept him from operating on people, but he knew a ton of stuff and was a fascinating guy!
Also, “Savings” makes a really good point about annuities. You can do things in phases and that can help it along.
Jerry

]]> By: Savings http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html/comment-page-1#comment-169033 Savings Wed, 27 Aug 2008 15:53:16 +0000 http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html#comment-169033 My view on retirement have always been work hard when your young,make the money and retire. Starting a business then now makes much more sense,have a plan.Each time you convert part of your plan to an annuity, you can take part of it as tax-free cash. Insurance companies often set a minimum fund size for annuity purchases. This is called a phased retirement. My view on retirement have always been work hard when your young,make the money and retire. Starting a business then now makes much more sense,have a plan.Each time you convert part of your plan to an annuity, you can take part of it as tax-free cash. Insurance companies often set a minimum fund size for annuity purchases. This is called a phased retirement.

]]> By: Talk About Debt http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html/comment-page-1#comment-168965 Talk About Debt Wed, 27 Aug 2008 06:32:08 +0000 http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html#comment-168965 Retirement is complicated. I have seen my family pay into a pension for it to be worth very little when it matured because of stock prices being low. I think the best plan for retirement I have read come from a book I read 'the 4 hour workweek'. Essentially the plan is to work forever and to choose quality of life over retirement. To do work you enjoy, not the 40 hours grind. To do work that can be done in short bursts and from anywhere you have a PC / WiFi. A great read. Retirement is complicated. I have seen my family pay into a pension for it to be worth very little when it matured because of stock prices being low.

I think the best plan for retirement I have read come from a book I read ‘the 4 hour workweek’. Essentially the plan is to work forever and to choose quality of life over retirement. To do work you enjoy, not the 40 hours grind. To do work that can be done in short bursts and from anywhere you have a PC / WiFi. A great read.

]]> By: Carnival of Personal Finance #167 - Highlights from the Beijing 2008 Olympics — Broke Grad Student http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html/comment-page-1#comment-168638 Carnival of Personal Finance #167 - Highlights from the Beijing 2008 Olympics — Broke Grad Student Mon, 25 Aug 2008 11:05:14 +0000 http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html#comment-168638 [...] What Are My Options For Retirement? [...] [...] What Are My Options For Retirement? [...]

]]> By: fern http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html/comment-page-1#comment-167973 fern Wed, 20 Aug 2008 20:40:21 +0000 http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html#comment-167973 i think 1 important key to a fulfilling retirement is to schedule your time in more easily managed blocks. In other words, if you have days upon days with no particular schedule, you may well wind up whiling it away or doing not much of anything, bored out of your wits. but if you budget your time in the same way you might budget your finances, you'll likely end up more satisfied. For instance, sharpen your pencil and make a list of the types of things you want to do, on a weekly or monthly basis, from say, a good brisk early morning walk 4x weekly to family/friends visits to volunteer work, etc. Try to incorporate fixed activities at least a few times a week and then flesh out the rest as you go. i think 1 important key to a fulfilling retirement is to schedule your time in more easily managed blocks. In other words, if you have days upon days with no particular schedule, you may well wind up whiling it away or doing not much of anything, bored out of your wits.

but if you budget your time in the same way you might budget your finances, you’ll likely end up more satisfied. For instance, sharpen your pencil and make a list of the types of things you want to do, on a weekly or monthly basis, from say, a good brisk early morning walk 4x weekly to family/friends visits to volunteer work, etc. Try to incorporate fixed activities at least a few times a week and then flesh out the rest as you go.

]]> By: Jay @ Advance http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html/comment-page-1#comment-167941 Jay @ Advance Wed, 20 Aug 2008 14:55:19 +0000 http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html#comment-167941 Two comments: 1) Retirement can be a lot more boring than people anticipate. As much as work can be dull, at least it fills up the day and makes you feel productive. You'd be surprised how quickly sitting at home all day can get old. Besides, daytime TV is terrible. Hobbies and traveling can fill that void, but most of those kinds of things require significant expenditures. If you're pinching pennies to make sure you don't outlive your money, you'll likely find that retirement isn't all that it's cracked up to be. 2) Money goes much more quickly than you would think, especially when you get older. You may find that you want/need to help your children or grandchildren with housing or education expenses, you'll probably want to travel to visit them with some regularity, and you won't want to leave them with the burden of supporting you in your old age. Furthermore, if your friends are still drawing a paycheck, they won't be looking for low-cost activities to the same degree that you are. Moral of the story: you can never have too much in the bank when you retire. One idea that is appealing to me is taking a few months or a year off from work when I reach 55 or so. See how I like the lifestyle, and see how much money I blow through. Then evaluate whether I should try to go back to my old job, look for a part time replacement, or retire altogether. Just another option potentially worth considering. Two comments:

1) Retirement can be a lot more boring than people anticipate. As much as work can be dull, at least it fills up the day and makes you feel productive. You’d be surprised how quickly sitting at home all day can get old. Besides, daytime TV is terrible. Hobbies and traveling can fill that void, but most of those kinds of things require significant expenditures. If you’re pinching pennies to make sure you don’t outlive your money, you’ll likely find that retirement isn’t all that it’s cracked up to be.

2) Money goes much more quickly than you would think, especially when you get older. You may find that you want/need to help your children or grandchildren with housing or education expenses, you’ll probably want to travel to visit them with some regularity, and you won’t want to leave them with the burden of supporting you in your old age. Furthermore, if your friends are still drawing a paycheck, they won’t be looking for low-cost activities to the same degree that you are. Moral of the story: you can never have too much in the bank when you retire.

One idea that is appealing to me is taking a few months or a year off from work when I reach 55 or so. See how I like the lifestyle, and see how much money I blow through. Then evaluate whether I should try to go back to my old job, look for a part time replacement, or retire altogether. Just another option potentially worth considering.

]]> By: Kaye http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html/comment-page-1#comment-167936 Kaye Wed, 20 Aug 2008 14:35:01 +0000 http://www.everybodylovesyourmoney.com/2008/08/19/what-are-my-options-for-retirement.html#comment-167936 Great pondering for the public to see, as many have/will have/have had the same quandry before them. It always helps me to see that others are deliberating the same things I am...makes me feel human and helps make my concerns feel legitimate. CONGRATULATIONS! You have won the Mrs Nespy’s Frugal World Gold Medal for August 19th. Go to http://mrsnespy.googlepages.com/grabyourmedalhere to get the code to post your medal if you’d like. Thanks for the great writing! Great pondering for the public to see, as many have/will have/have had the same quandry before them. It always helps me to see that others are deliberating the same things I am…makes me feel human and helps make my concerns feel legitimate.

CONGRATULATIONS! You have won the Mrs Nespy’s Frugal World Gold Medal for August 19th. Go to http://mrsnespy.googlepages.com/grabyourmedalhere to get the code to post your medal if you’d like. Thanks for the great writing!

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