I think retirement is a pipe dream... (1 Viewer)

[Snakehead]

I think one reason I'm never bored is that I started adulting at such a young age that I "waste" a lot of time doing childish things that I felt I never got a chance to finish as a kid/young adult.

Same. I started working fulltime at 14 to support myself after my dad had a massive heart attack at 35 requiring a heart transplant that he got at 37. I retired from the Air Force in 2019 at 42, but I only work 40 hrs/wk now as a DoD Civilian so I try to fish as much as possible since I missed so much of it growing up and while in the AF.

 

[Cage1]

Just curious -- what does that 3rd type look like fo you?

11:00 Wake up
11:00-12:00 get moving, get coffee, sit on the porch and watch trees and throw a toy with the dog.
12:00-12:05 rub one off
12:05-4:00 Keep sitting, staring, playing guitar, playing with dog
4:00-5:00 Eat something
5:00-8:00 Watch The Office reruns (and when done, cycle through Cheers, Community, 30 Rock, Frasier, Seinfeld, Simpsons, Archer, Rick and Morty, and whatever else I want to.
8:00-8:05 Rub a second one off
8:05-8:30 maybe eat something else
8:30 - 11:00 write, play guitar, talk to the kids/grandkids, read, catch up on correspondence, whatever.

And so on and so forth, ad mortem

 

[Mr. Blue Sky]

11:00 Wake up
11:00-12:00 get moving, get coffee, sit on the porch and watch trees and throw a toy with the dog.
12:00-12:05 rub one off
12:05-4:00 Keep sitting, staring, playing guitar, playing with dog
4:00-5:00 Eat something
5:00-8:00 Watch The Office reruns (and when done, cycle through Cheers, Community, 30 Rock, Frasier, Seinfeld, Simpsons, Archer, Rick and Morty, and whatever else I want to.
8:00-8:05 Rub a second one off
8:05-8:30 maybe eat something else
8:30 - 11:00 write, play guitar, talk to the kids/grandkids, read, catch up on correspondence, whatever.

And so on and so forth, ad mortem

I mean, that‘s pretty much the type #2 i mentioned.. like i said, it doesn’t mean ur necessarily ‘busy’ in retirement, just preoccupied - preoccupied with things like sleeping and screwing off… completely legitimate pursuits IMO, and similar to what my retirement will look like, except there will be more tennis and more sleeping/naps .

 

[HoustonSaint68]

12:00-12:05 rub one off...

...8:00-8:05 Rub a second one off

haha, so twice as long as the real thing??

 

[sfidc3]

I think one reason I'm never bored is that I started adulting at such a young age that I "waste" a lot of time doing childish things that I felt I never got a chance to finish as a kid/young adult.

At heart I'm somewhere between 12-14.....and I'm getting back to doing many of the things I did at that age, thankfully I'm still in pretty good physical shape.....I can still ride my skateboard reasonably well and there are plenty of interesting places to do that in our area....I plan on learning to surf this summer and fishing, I love fishing probably more than anything.....

 

[HoustonSaint68]

.....I can still ride my skateboard reasonably well and there are plenty of interesting places to do that in our area....

Well, to be sure, the problem when you’re older is not the riding, it’s the falling….

 

[sfidc3]

Well, to be sure, the problem when you’re older is not the riding, it’s the falling….

True dat, I can still do a handful of tricks, ride bowls/pools, but will never attempt aerials again.....I'm a much more conservative skater for sure and falling sucks.....

 

[BarBar]

I doubt that I'll retire by choice. Two divorces chopped my 401k in half, twice. I had a stent put in at 51 and two veins in my legs glued shut last month. My maternal grandmother died at 52 with a bad heart. I have my problems. My 33 year old half brother is the picture of fitness except for the bad heart that caused his doctor to say that he'd be lucky to live into his 50's.

Despite that, I'm putting the equivalent of a full-time, minimum wage job in my 401k because I might goof around and live, or become disabled and need it. Both of my parents became disabled (Dad Fibromyalgia/Mom mini strokes) before they could retire. If I don't live, my 35 year old half-sister will get the 401k, life insurance, and house. With that, and what she has, retirement will be possible for her, and her fiancee.

As I learned recently when my father died, many 401k's do NOT have any death benefits. Meaning when you die they just keep it. Check into that if you havent already. My father had made me the beneficiary....etc. but they don't pay out on death so what was the point?


I am 42 and plan to retire ASAP. I am not planning to stay in the rat race past 50 if I can help it. 55 at the absolute latest. We are saving every dollar we earn and we have a big plan. At this rate we are 2-3 years savings away and then we probably need another 2-3 to fully get up and running. After that....anything is possible.

 

[Bayouboy]

As I learned recently when my father died, many 401k's do NOT have any death benefits.

Many? doubtful. Sorry you had to deal with that, but the vast majority of plans pass on to heirs. A true 401K is your money. Employers match a certain amount, but the majority of the money comes from your own pocket.

 

[HoustonSaint68]

As I learned recently when my father died, many 401k's do NOT have any death benefits. Meaning when you die they just keep it. Check into that if you havent already. My father had made me the beneficiary....etc. but they don't pay out on death so what was the point?

Are you sure you’re talking about a 401k??? Your father’s contributions can’t just be taken from his beneficiaries/heirs.

There’s something off here. I’m not sure what you’re referring to as “death benefits “.

 

[jboss]

Many? doubtful. Sorry you had to deal with that, but the vast majority of plans pass on to heirs. A true 401K is your money. Employers match a certain amount, but the majority of the money comes from your own pocket.

Are you sure you’re talking about a 401k??? Your father’s contributions can’t just be taken from his beneficiaries/heirs.

There’s something off here. I’m not sure what you’re referring to as “death benefits “.

Yea this needs to be looked into. Not transferring benefits to the beneficiary is straight up illegal.

 

[Bleu Raeder]

haha, so twice as long as the real thing??

More setup involved.

 

[Mr. Blue Sky]

haha, so twice as long as the real thing??

Reminds me of the joke from years ago when Viagara was new, an old guy goes to the doctor’s office, and in the course of conversation, the doctor mentions this new wonder drug.. so he gives a Viagara pill to the old guy, and says ‘Take one of these, you’ll last an hour in bed’.. and the guy looks at the doctor and says ‘Gee, thanks Doc- that’s 57 minutes longer than ive ever lasted before !’

 

[sfidc3]

As I learned recently when my father died, many 401k's do NOT have any death benefits. Meaning when you die they just keep it. Check into that if you havent already. My father had made me the beneficiary....etc. but they don't pay out on death so what was the point?


I am 42 and plan to retire ASAP. I am not planning to stay in the rat race past 50 if I can help it. 55 at the absolute latest. We are saving every dollar we earn and we have a big plan. At this rate we are 2-3 years savings away and then we probably need another 2-3 to fully get up and running. After that....anything is possible.

Something sounds off here....I believe 401k's and many other retirement savings instruments by law have to pay out to beneficiaries of the bereaved....

Retirement annuities (which are becoming increasingly rare these days) where the company pays into exclusively (or nearly exclusively) may be a different story....

 

[BarBar]

Are you sure you’re talking about a 401k??? Your father’s contributions can’t just be taken from his beneficiaries/heirs.

There’s something off here. I’m not sure what you’re referring to as “death benefits “.

Meaning when the person dies there is still a payout. Survivors benefits is the proper term. Apologies.

With his the payment literally stops on the day of his death and I got nothing. There was still like 40 grand in there that they just kept.

Just check into yours and make sure is all I am saying. I am sure he thought the same, but once you are gone there isn't much you can do about it.


Another small bit of advice is to keep up with everything and stay on top of it.

20 years ago my mother was awarded half of the value of that same 401k in a divorce.

She kept the claims paperwork in a folder until she was ready to retire(this year). Turns out the company who administered that 401k has been bought and sold 7 times in the last 20 years and finally shuttered due to bankruptcy. We spent MONTHS trying to get that money. I contacted a few attorneys and even used LinkedIn to find a bunch of employees that used to work for said company. The same message from all of them "sorry it's too late. The money is gone."


I learned a lot about this stuff in the last 2 years, unfortunately. It seems like every move is designed to help you lose your money.