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Everything is better deep fried.
Several years later and I'm still on track for a paid off house, a million in the bank, and a paid off rental. I've kinda switched the rental plan to an air bnb accessory dwelling though as it appears I'm going to be the child who takes care of the parents, possibly the in laws as well. If it's both I'm bumping to 1.5 mill.
way to go !Quote:
Originally Posted by AdironRider
I'm on a similar track, I'm using the rentals to replace income in retirement so I can keep a lower stash and not be affected as much in another mkt crash, but will be taking care of some siblings in retirement that never have money, never save money and do not make money; tthey're "adult children"; their words.. I expect i'll need to plan to house them at some point.
We’ll get you on the program, when you get here!Quote:
Originally Posted by Bobby Stainless
Well this has been an entertaining read. Trying to get to two hrs on the spinner this afternoon so this thread has helped time fly.
U all are doing it wrong. Ski town and 100 day seasons after retirement. Sounds fun but u are backwards.
Do what I did
Ski town at 19. Fuck off for ten plus years well into your thirties. Work is not a priority. Liarer loan and buy a shit hole condo. Worth three times what you paid for it. Smoke in dope all day. 100 day seasons. 10k miles min on the bike. All the while hoping to be a bad ass pro. Think that lasted almost 15 years.
I'll cash out someday. Move to some small shit hole town in the desert. Live in a trailer fuck off all day.
Who cares when your old you can't live the good life like that. Listening to young money right now. It'll tell you everything you need to live life the right way.
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Retiring in a trailer in the desert. So inspirational.Quote:
Originally Posted by fastfred
I don't personally know anyone who lived the ski bum dream in their 20s for more than two years who turned out ok. Good employers tend not to take risks on 30 something ski bums.
I'm kind of with fastfred. I decided in my twenties to work as little as possible and just take life one day at a time because you never know when the hammer will come down. Twenty-five years later, still no plan and no regrets. My active years were, and still are, spent climbing and skiing and only working enough to get by. If I have to be a Walmart greeter in my 70s and live in a dinky apartment, I don't give a fuck. All I need is a place out of the weather to lay my head.
I will admit to getting lucky on a house purchase that I sold before the crash and that helped. But it was blind luck. Actually I can probably credit my wife. Funny thing is she's not much of a planner either. But I do respect you guys who plan for retirement and make it happen. I wish you good health to enjoy the fruits of your labor. (And if you want to help pay for my kids' college, please PM me.)
Life’s not over at 60. Tons of old timers rippin it up here.
Colorado Mountain College claims to have the lowest cost 4 yr degree in the country.Quote:
Originally Posted by yeahman
First time for me. There was a NYE special with a filet and lobster. They cut it up and flash fry it with some goodness.Quote:
Originally Posted by iceman
Then spoon it back into the shell. It was pretty awesome.
Bob's is a hell of a steakhouse.
https://www.icmag.com/ic/picture.php...tureid=1813513
https://www.icmag.com/ic/picture.php...tureid=1813516
Meh..... results will vary
That said, I moved to a ski town at 26, fell into ski patrolling and suddenly I am 60.
Somehow I own most of my own home (paid off in another 5 years) in a hot RE market, somehow managed to save a pretty fat IRA, have a decent business working for myself (asshole for a boss) and am a semi-reformed ski patroller.
I have about 28 days in so far, can still enjoy skiing chopped up, steep snow at speed and love to mountain bike for several hours at a time.
If at some point I have to move to the land of warmth and cheap and work in the local hardware store? I can accept that.
You under estimate a humans will to survive. And being broke will guarantee you cannot afford those knee surgeries, root canals, and will generally be in misery.
It’s about balance.
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Quote:
Originally Posted by Not bunion
There are no local hardware stores left.
it is to me i look forward to the trailer, on the other hand I look at someone living on the front range going through the daily slog of family, commuting, work, suburbs, and all that fine stuff as misery. But that's just me. I don't dog it too hard, because there area lot of guys who live that life and get after it when it's time to have fun........... but they are far and few betweenQuote:
Originally Posted by Kevo
I love the quote about 30 plus ski bums and not taking a risk on hiring them. I had the greatest time from age 19 to my early 30's. Lived in a tent, squatted in cabins. Ski'd every day. No need to take a risk on me, went into business for myself, work way too much these days, I call it payback for fucking off for so long. Did everything I could to have no responsibility for as long as I could. These days I have employees, an office, and deal with a shit ton of money, I mostly let someone else deal with the money because I barely finished high school.
Just last week I was dealing with a guy who I have known for twenty something years, I worked for him way back when, he knew I was baked everyday and rolled with it. Here I am today giving him orders and writing him checks for 10 grand. Every once in awhile he gets a joke in on me about the good ole days and we laugh.
Consider myself pretty lucky to do what I do now and be able to look back, I didn't just take that year or two off from real life then jump in to it, I took a decade plus off
Pension was from old finance company that was part of company that bought Wells Fargo. Such a small group that qualified, that I'm confident we are solvent under Wells (unless they keep making stupid errors).Quote:
Originally Posted by El Chupacabra
Sounds like I need to study up more on those payouts. I'm conservative, so a payment stream would be nice. So hard to not take it at age 55, but now sitting on 35 days of vacation a year, nice salary, dollar for dollar matching 401k, ability to work remotely, etc. Probably just keep working into my 60s, try to double the number saved but allow myself more fun vacations using that time off.
Currently age 52.5 and enjoy the job.
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That should be your signature for 2018.Quote:
Originally Posted by Benny Profane
Quote:
Originally Posted by Iowagriz
Wow. "Dollar for dollar matching" 401k. Is that to a certain limit? Or max contributions? For that alone, dump as much as you can into that savings, sacrificing everything else. Where else can you make an instant doubling of your investment, and then watch things grow further tax free?
7 weeks vacation and the working remotely part sounds like retirement already, let alone the 401k match.
I was flipping through my cable channels and stopped at some sort of real life murder mystery thing that got my interest because it was on the outskirts of Taos in some fucked up place (Two peaks? Two something or other mountain) where people just roll up and plant their trailer or school bus and live their miserable lives. No power, roads, or water. Pretty much lawless to the point that no cop from Taos will go out there alone, for fear of being shot. Another reason on the list that Taos gives me the creeps.Quote:
Originally Posted by Kevo
Plenty are thriving in small towns that are not threatened by any Home Depot or Amazon.Quote:
Originally Posted by Benny Profane
Two in Aspen, one in Snowmass.Quote:
Originally Posted by Benny Profane
One of my buds parlayed a gig at Ace, into the house manager, at s $50 million dollar pad.
Skis everyday.
The money in Aspen is absolutely bonkers. Billionaires pushing out millionaires.
Well, that certainly would be movin' on up to the east side for Fred. Aspen. Yup.Quote:
Originally Posted by Shredhead
DELRAY BEACH, FL—Inviting the recently fired White House chief of staff to take a load off and embrace his newfound freedom, a blissed-out, hemp-wearing former press secretary Sean Spicer reportedly assured Reince Priebus on Monday that leaving the White House was the best thing that ever happened to him. “Seriously, man, that place was toxic—after I got out of there, it was like this huge weight had been lifted off my shoulders,” said the serene, baja-hoodie-clad former spokesman, offering Priebus some of his homemade kombucha and his copy of Alan Watts’ Become What You Are while assuring him that leaving the Trump administration would allow him to find a sense of tranquility and spiritual reconnection. “I take long walks now. I read. I meditate. Remember how flustered I used to get? The other day, someone totally screwed up my lunch order, but I didn’t even let it get to me. Trust me, you’re going to look back on this as the day you rediscovered yourself. Welcome back, brother.” At press time, Priebus was attending a silent meditation retreat in Bali, waiting for the echoes of Donald Trump shrieking at him to finally subside.
1:1 matching certainly not guaranteed, but has been baked into goals/plan and never been missed in my 28yrs. Can get the match up to the fed max, which I think is 18k.
The crazy part....the little finance company was paying 2.5 to 1 for many years prior. I was able to get my first 10yrs under that plan. I was certainly lucky to get my start with this company right out of college and stick it out the entire time.
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No limit on employer contribution up to the maximum of $55k:
Compensation and contribution limits are subject to annual cost-of-living adjustments. The annual limits are:
salary deferrals - $18,500 in 2018 ($18,000 in 2015 - 2017), plus $6,000 in 2015 - 2018 if the employee is age 50 or older (IRC Sections 402(g) and 414(v))annual compensation - $275,000 in 2018. $270,000 in 2017 (IRC Section 401(a)(17))
total employee and employer contributions (including forfeitures) - the lesser of 100% of an employee’s compensation or $55,000 for 2018 ($54,000 for 2017 not including "catch-up" elective deferrals of $6,000 in 2015 - 2018 for employees age 50 or older) (IRC section 415(c))
you are old enough that the low-skill, low-intensity walk up jobs might still be there. People under 50 planning on that when they are in their 70s? good luck with that.Quote:
Originally Posted by Not bunion