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Retirement - Where Are You?

Discussion in 'Non-Vegas Chat' started by VegasGroove, Jun 11, 2015.

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  1. ken2v

    ken2v This Space For Rent

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    19 and change. Mind boggling.
     
  2. breanna61

    breanna61 Super Moderator

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    You can't fix stupid!
     
  3. johnvic

    johnvic VIP Whale

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    I'll be honest, I have no idea where I'm at in term of retirement. I'm 55 and make decent money, have a mortgage and small debt. I should be out of debt in a year. But I have no idea what I need to retire. I thought about going to a consultation at Fidelity but the paranoid me thinks it's just an effort to sell me on a managed fund.

    Other than that, my goal is to retire, sell my NYC apartment and move to Vegas. Then I'll play poker at a local's casino and complain about the buffet.
     
  4. SandsFan

    SandsFan VIP Whale

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    Interesting question, my father retired at 77 and he was an operator in a chemical plant. When it became too difficult to climb towers, he moved into the lab for the last 5 years. Why did he work? Kept his mind sharp and he had fun
     
    The 3 P Trip (Paris and Palms)
  5. Electroguy563

    Electroguy563 Vegas Joker

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    I feel the same way. I'm not retired yet but I will certainly make it very clear that even though I have all this time on my hands, they (kids, friends, relatives, etc.) better not take advantage and expect me to jump to do things for them at a moment's notice. It will not happen. I worked hard my whole life and sacrificed my time and money to cater to my loved ones. I will still continue to do that when I'm retired but they WILL understand that my retirement is all about me.

    Thanks for this very insightful post!
     
  6. NYNYGirl

    NYNYGirl VIP Whale

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    As far as retirement, not where I should be
    Anticipate working past retirement age, yes. But I feel I'd be bored otherwise.
     
  7. johnvic

    johnvic VIP Whale

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    My Uncle was decent with savings and investments. But he had no interests in life, was single, worked the night shift and had no real friends. He basically was lost when he retired and had a breakdown. He never enjoyed retirement.
     
  8. shokhead

    shokhead No big spender unless eating drinking having fun!

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    Yes.
     
  9. LeCaid

    LeCaid Newbie

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    How about casinos in LA, they aren't too far from Dallas.
     
  10. bjpcyclone

    bjpcyclone High-Roller

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    That's exactly why I go to Vegas. It's an excuse to focus on me and shed myself of the pressures and responsibilities of work.
     
  11. wizard950

    wizard950 High-Roller

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    Sorry, very late to this thread, work keeps getting in the way of all fun things! I've been working since I was 16, this November 24th I celebrate my 70th birthday. One week after that, I will be retired. I am both looking forward to it and a nervous about it finally happening. :rolleyes2:
     
  12. sandybeachbar

    sandybeachbar Low-Roller

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    Happily retired since last year. Keep myself semi busy by dabbling in a little side business in property management; but only when it doesn't interfere with trips to Vegas ;) (3 this year. lol)
     
  13. Jonnyvegas

    Jonnyvegas Low-Roller

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    Without giving all my specifics....I'm 44 and my wife is 49. Forgetting about her 401K, for a moment, here is my plan. At 55, I plan to retire from my job in the Biopharmaceutical field with my mortgage paid off, a pension that will pay me 1K / month till death and have 1 million in my 401K. I will be able to get health benefits from my current employer being that I met the magic number(age & service = 75) At that age, I plan to sell my house and downsize to Florida netting me an additional 200K for retirement funds. At this time I plan to be debt free and work part time. Now at 55, with no debt and a maintenance/mortgage free home, I'll tap into my wife's 401K for a few years to get us to social security age and my age for tapping into my 401K.

    I know there is no crystal ball in life. i do know that my parents and my wife's parents did not have longevity on their side. They all passed between 64 and 79 years of age. I know some out there (including my friends) feel the need to have a huge retirement fund for their golden years. Not me. I want enough to live and enough to have some fun. I have a friend/ coworker who insists he needs 3 million for retirement. He doesn't do anything fun now. He sits in his garage and drinks Miller Lite. How much money in retirement do you really need to do that??

    I think all the time, if I didn't have a mortgage and any debt, I could work part time and still have the same lifestyle I do now. Tell my I'm crazy or tell me you agree with me.
     
  14. sandman992

    sandman992 Tourist

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    Love hearing stories of people retired or soon to be retired. I might see that one day,and I know everyone has been told at a young age to save save save for retirement but it's hard to do. Married at 18 with one on the way and by 21 had two running around. After 27 yrs of marriage my real retirement was having them both out by age 39. We got them on the right path that we didn't have but luckily my wife is a state worker so her retirement and insurance is pretty good,so I hope by 62 I can retire,if I'm still on this side of the dirt!
     
  15. UCLAGirl

    UCLAGirl High-Roller

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    My neighbor was at the same job from age 19 until he decided to retire at 55. He had a massive heart attack and died at his retirement party. His lifelong dream was to visit famous architectural sites throughout Europe and he was set to begin a three month trip with his wife a few days after the party to do that.
     
    Last edited: Jun 16, 2015
  16. NickPapageorgio

    NickPapageorgio OG of the Sal Sagev Hotel

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    Have no fear, if you happen to be on the other side, you can retire as well. :wink2:

    Nick:beer:
     
  17. Joe

    Joe VIP Whale

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    Two of my co-workers died within 3 months of retirement, both heart related. But, I have at least 8 others that have beat the game and are retired over 20 years already.
     
  18. breanna61

    breanna61 Super Moderator

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    We often hear stories about people retiring and passing shortly after and some will say or think that it is in some way related to the person no longer working but I often wonder if perhaps they weren't feeling well and just didn't tell anyone.
     
  19. shokhead

    shokhead No big spender unless eating drinking having fun!

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    Talk to an expert as there s a lot you have to do and tax laws change with what and when you can do what with certain money.
     
  20. Joe

    Joe VIP Whale

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    Both had massive heart attacks and usually those aren't predictable, but who knows...
     
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