Annual bump. Another year older...
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Annual bump. Another year older...
3.5...Quote:
Originally Posted by GiBo
Quote:
Originally Posted by El Chupacabra
...and deeper in debt.
A year later, nothing has changed.Quote:
Originally Posted by Danno
Damn. Sorry to hear about your kid having to repeat kindergarten.Quote:
Originally Posted by Danno
:D
That's gotta be disheartening.
I hit my # this year @ 59.
So far, so good.
31 days on the hill already.
Damn that was funny.Quote:
Originally Posted by El Chupacabra
I keep reading that even with Medicare you should anticipate $250,000 of medical expenses after the age of 65, but the Republicans are now talking about shaving Medicare back. I retired 4 years ago at 62, kicked in SS and have averaged 100 ski days a year since then. Things are going well because of the raging stock market, but if Trump starts lobbing nukes at N. Korea or something equally as stupid and the market tanks, according to my financial guy I'll need a cushion to allow for a 30% drop in the market to stay on track. So you need to pick your target lifestyle number, figure in inflation, and then how much cushion you'll need.
hehQuote:
Originally Posted by El Chupacabra
and on track, thanks to the stock market [bubble?] and just enough (1/4 time max) work to keep me treading water -- well, actually a bit ahead of treading water thanks to the stock market [bubble?]Quote:
Originally Posted by El Chupacabra
Honey, who is 8 years younger than I, has been talking about retiring in 5-6 years, selling the house and hitting the road. 6 years out puts me 2-1/2 years until I start taking max SS at age 70 and she starts taking SS at age 62. That's the smart play for us: When I kick, she gets my higher SS check. Our combined SS checks will be more than we currently spend (unless Paul Ryan and Koch brothers fuck it up).
WOW!!! Congrats. We are at least 3-5 years away from retirement. Just hoping my body can hold together for a first ever 100 day season.Quote:
Originally Posted by Shredhead
I am banking on not getting my SS benefits that I have paid into for 42 years (from age 17). Hope no one else is counting on it. Told the wife her Calsters pension will likely be cut in half in the next 10 years. But I am a half empty kind of guy. Hopefully YRABQuote:
Originally Posted by OldSteve
If skiing is the goal then you also need to factor in age and the kind of skiing you want to do. We all know a few guys who are 65+ and still ripping, but realistically what kind of skiing will you be doing at that age? When will you reach the point when the goal of skiing all the time stops making sense? The other issue is having the $ to do good skiing. There is a group of retired guys that are at first chair every day at our lame local area. They are skiing as much as they want, but it is quantity over quality. Having enough $ to travel and chase good snow (old guys have too few ski years left to wait out a bad season) but accomplishing that while you are still young enough to ski everyday on something other than groomers puts the target age and needed nut at a younger age and higher amount than you may think.
As someone who is retired and seeing what it is like for all types of old skiers, IMO the best plan is to set up your lifestyle to ski as much as you can now at whatever age you are. We all dream of a retirement of heli-skiing as much as we want, but betting on the come financially and physically is probably a risky proposition. Carpe Skium!
Well, first of all, buy supplementary insurance with Medicare, take really good care of your teeth, exercise and lose weight and cut back on drinking. And, on a much more morbid note, if you're diagnosed with fairly advanced cancer, especially lung or skin, find a hospice instead of giving your estate away to the medical industry trying to stay alive. It will be miserable and really expensive, and you'll probably die anyway.Quote:
Originally Posted by Mudfoot
As far as a nuclear war, your last concern will be the stock market crashing. Learn to enjoy human meat if you survive that event.
The Republicans aren't going to touch Medicare. They got what they wanted with this tax cut for the rich. Old people vote. The incoming Democratic congress will prop it up somehow, along with SS, but the latter is in pretty good shape, anyway.
All my life we've heard the fearmongering of SS going away or getting gutted, but it hasn't happened because SS is the true third rail of politics. When the Dems take power, they will lift the payroll cap, which is a simple fix to keep SS healthy for decades. The GOP won't dare to slash SS because old angry white folk on SS comprises 40% of its base.Quote:
Originally Posted by liv2ski
ETA per Bunny's cross post:Like a broken clock, every now and then Bunny nails it.Quote:
Originally Posted by Benny Profane
Quote:
Originally Posted by Mudfoot
Yup. Get it while you can.
Good friend of mine who is a better skier laughed at me when I was 50 and told him I was planning on "retiring" to a ski town, and he was right. You're not going to be ripping at 65 so much all day, and, besides, you'll be 70 in five years. Not a great place to grow old.
I've thought about this. $5.0M is my number. Though frankly it will be more of a F.U. in my back pocket, meaning I wouldn't quit (think I would be bored without some structure) but would make changes to improve the work/play balance (move the franchise to Colorado (Florida?), etc,..., less travel to third-tier clients in Cleveland and Akron, etc,...). If the company don't like that, then F.U.
(nice blog)
Dahyam.Quote:
Originally Posted by Mudfoot
don't have hudge amounts in the bank but zero debt and 40-50K steady income per year is making for effortless retirement its all about the income IME
^^^ and being able to count on not going broke because of medical problems doesn't hurt.
Why isn't it a ski town a good place to grow old, though? Seems like the mountain is there when you want it. Get in a few runs a day and you've still got time for your day-to-day chores. I have a feeling that when I'm 70 I'm not really going to want to drive an hour and chain up to chase powder.Quote:
Originally Posted by Benny Profane
Youth centric culture, generally vapid culture, mud season, distant hospitals and generally crappy health care except for trauma and orthopedics, again, youth centric and vapid culture, and, in my case, pretty bad road biking, which is my warm weather activity, and is a longer season than ski season. Oh, and pretty expensive housing near good mountains.Quote:
Originally Posted by The AD
I'm good with renting for a month or two up there and spending the rest of my life elsewhere.
Benny is hitting some good points. FKNA take care of your teeth. Agree on real estate prices more importantly the property tax. I am 20 minutes from the hill reasonable real estate prices embarrassingly low taxes. Also who wants to be around the crowds. Retirement should be relaxing.
As I get older, I appreciate warm weather a little bit more each year, so yeah, living in a mountain town full time when you're old, I don't know about that. Maybe rent a place for 3 months and be happy with 60 days skiing.Quote:
Originally Posted by The AD
Haven't read every post but I think it's very dependant on where you plan to retire. XXX-er can do it on 900k, cause he lives in a remote
beautiful little village in NW BC. If you're pulling the pin in Tahoe you'll need more than that. I think my number is 1.2MM - 1.4MM.
As ice pointed out, those who live in Canada have a different calculus, because of the whole health care thing.Quote:
Originally Posted by garyfromterrace
Benny cleared that up earlier. Screw healthcare just die.Quote:
Originally Posted by Danno
My dad was never a ripper. But he ended his skiing career with the likes of Friedl Phieffer and Pete Siebert, out at Buttermilk.
Age is the great equalizer.
They would ski a couple of runs, then share a bottle of wine.
Good point. So ideally save enough to be able to live in two places.Quote:
Originally Posted by liv2ski
I don't think a youth-centric culture is going to bother me. I'm perfectly content to do my own thing and I don't require a whole lot of culture whether it be youth or old fart centric.
Hopefully I won't have to worry too much about healthcare costs. Right now my company has retiree medical that is the same as employee medical. Will that still be the case in a decade or two? I sure hope so. I've even got a fucking defined pension. Honestly I don't think my number needs to be huge.
In ten years, my early retirement health insurance from an employer went from 600 dollars to over 5000. Still good for someone my age, but, thats all relative in the US of A these days. You can expect that pace to continue, since the rich just shoved it up your backside a little further.
I retired at 50, 18 years ago, live in a ski town, ski 100 days a year, mountain bike and climb.
But I really work at it, lift, stretch. I'm sure I'm just delaying the inevitable.
Someone I know died of a heart attack right after skiing that day. Great way to go.
Sent from my Moto G (5) Plus using TGR Forums mobile app
But yeah, you need 3-5mm minimum.
Even better, retire to France, you need half that.
Sent from my Moto G (5) Plus using TGR Forums mobile app
The last page or two touches on a few things for me, basically reminding me how fortunate I've been. My number was 32...years of fire service. Retired at 53, defined benefits pension including health care contributions, took up paid patrolling and trail crew which keeps me in shape and on top of my ski game, live in a paid-for mountain town home near a few ski hills - but not a ski town.
It's not all cold beer and tall cotton, but I wish you all the luck I've had as you approach your number. Thanks for the reminder that I haven't got much to complain about...except maybe the weather and other people.
Who is "you?" A couple in their 60s with no debt, a home in good shape, vehicles, on Medicare, reasonably low RE taxes, living in a place with reasonable cost of living, $5,000/mo. ($60K/year) SS income and a $1 million savings cushion is 95%-tile. Nearly all couples in that position do just fine. 9/10 Americans retiring in the next 10 years will never get close to having $1 million in savings.Quote:
Originally Posted by rod9301
One problem with the "what's the number" game is that the answer is dependent many factors, e.g., age of retirement, SS benefit level, age of taking SS, home ownership, kids/no kids, frugality. Contrast above example of couple in their 60s taking $5,000/mo. in SS and covered by Medicare vs. 35 y.o. couple with kids who want to retire at age 40. $3-5 million may well be required for the latter couple (or maybe not enough) who need $$ to raise kids, cover HC insurance premiums for 25 years, put kids through college, etc., etc. But there's no way the former couple on $5K/mo. SS and Medicare need $3 million to live a good life.
It's interesting looking back at my reply to this thread in 2011. I had just barely started dating my wife and wasn't all that grown up yet. Anyway, my target has definitely moved in that time. In 2011 I sincerely thought that I would retire at 49 (eligible for FF pension) and live out of a van 6-8 months a year and in my small, paid for home the rest. Now, being married, and through the miracle of getting older and softer, I think I want a little more from life/retirement. I'd like to live outside of the country for several months every year, not high roller style, just living simply in a cheap apartment and traveling around somewhere new. I guess my point is, it's a moving target, I don't really know what I'll want in ten more years. All I really know for sure is that I want to retire as soon as is realistically possible.
Anyway, I just came here to ask if there are any realistic retirement calculators out there. It seems like no matter how much you tell them you'll have in income/savings, they spit out that you are grossly underprepared.
Being from Canada I had never even heard of the word "copay" before reading it on TGR eh?Quote:
Originally Posted by Danno
I see a lot guys in the ski hill bar who are too fat and don't take care of themselves but that's nobody here I assume ?
I was going for freedom 55 but I fucked up by retiring at 49 ... Missed it by 6 years
I figured out that I will take more in pension than I collected in wages if I can live to 90 with the superior hybrid azn genes
They say you need 70 % but I found 50% of what you used to make adequate in retirementQuote:
Originally Posted by zion zig zag
I didn't plan or calculate anything man, like I tell people " you seen the big Lebowski? I'm the dude "