Put into my retirement notice.

[Deleted member 20812]

Congratulations bobbydean.

 

[SFC B]

Congratulations!! Now this is my opinion, but I simply don't understand why people aren't trying to find a way to retire as soon as they are able. The ONE thing you will never get more or and have no idea how much you have is TIME. A SGM from my old unit was just laid to rest after be KIA in that toilet of sand. He was to retire to a cherry orchard in MT 2 weeks after he was to return. Left a wife and little ones. In the last year I have lost 8 others and my father was the only one older than me (49). Enjoy what you have earned!!!

 

[bobbydean]

SFC B.

Sorry for your friend!

 

[bobbydean]

elkduds,

your situation is the perfect retirement.

 

[Pucky Freak]

Consider consolidating 401(k)s into a TD Ameritrade account (or 2, if one has to be tax deferred and the other is not). Use investment vehicles that average 10-12%/year, then draw off 8% per year, so the account grows over time. That way you live completely off the interest (plus social security and any other income streams) and leave the principal as an inheritance for your family. Plus, you never run out of $. An investment professional can set this up for you very easily for a reasonable cost.

The retirement strategy used by most people is to have a conservative growth rate, then draw down the principal, hoping you never run out of money. This is very silly strategy IMO, since who wants to worry about running out of $??

 

[grizzly_]

I'm trying to build mine to the 3-4% rule which helps to account for inflation and market variability. In a lot of instances, I find investing in rental real estate actually has a better monthly return than stocks. Plus it offers an inflationary hedge and is generally an appreciating asset with some tax benefits.

But, of course, I'm in real estate so I'm super biased so forget everything I said and go kick @ss in retirement. I hope to join you someday.

 

[bobbydean]

ElkFever2.

Good points. My investment strategy has always been ultra aggressive. Not popular, but works for me. I am conservative politically only. I have rebalanced my investments. Not ultra but still aggressive.

I have helped my daughter financially thru the years. She has now matured in the lady I have always loved and now respect. With that support and right thing to do and no regrets, her support has cost my retirement at least $1,000,000. She may not receive much inheritance or a large one. My wife and I and my daughter are comfortable with past decisions made. My wife and I just had the conversation that we balanced well what we had to do with we should do with our future. Family is a burden and a blessing.

I preached too much. My daughter has received her inheritance. On my passing she may receive zero or more, but she knows our love.

 

[bobbydean]

I know that I talking too much.

Several have mentioned the rental property is the best option. I agree! But, that is now me. Cannot fix a leak, fix electricity, no.

Hell, my wife is my handy man. Her dad was fireman and did construction on the side. Taught her well. We did massive concrete work on one our homes. I did all heavy lifting and pouring, Jim, my father-in-law, extremely good guy, did the finish work.

I will leave rentals to those who are capable. Did it twice and was a nightmare and cost me money.

 

[Hilljackoutlaw]

Congrats on the achievement! I have a long ways to go, but I promise to keep working to do my part for social security. enjoy the good life and budget a drink or two in for us HTers you run into along the way.

 

[LopeHunter]

I'm trying to build mine to the 3-4% rule which helps to account for inflation and market variability. In a lot of instances, I find investing in rental real estate actually has a better monthly return than stocks. Plus it offers an inflationary hedge and is generally an appreciating asset with some tax benefits.

But, of course, I'm in real estate so I'm super biased so forget everything I said and go kick @ss in retirement. I hope to join you someday.

First congrats.

I would suggest you read up on withdrawal rates and market cycles as you plan for the 7% draw down rate.

Anything more than annual 3% draw down of your stocks and bonds can be a regretful decision if you live more than 30 years or if the investments fall in value during the first decade or so. If the stocks and bonds have to last long enough for two persons then odds are one or more of you live beyond 30 more years.

Financial markets have cycles and retirees that retire as a pullback in investments happens are in a bad spot and if are not still building assets value during those pullback years through work, inheritance or lottery then he retiree can experience stress as the net value can get cut to 50% of so with what started retirement with in just 5-10 years. When the market recovers is too late as pulled out so much of the falling balance there is not as much left to grow while the market rebounds. I am not a financial advisor. I am not infallible. What I do does not mean anything for what you might want to do. I hate stress and would stress the heck out of me to see a 20% pullback then stagnant markets like saw 2000-2010 while I was pulling 7% of the original balance each year.

I do not invest directly in rental real estate. I do not buy REITs as they mimic bond behavior as markets rise and fall. I use five funds to achieve the stock and bond balance I want and all charge under $1 annually per $1000 invested. I rebalance one or more times a year which means I sell some of the fund or funds that grew faster than others and buy more or the funds that trailed. This keeps my investment mix where I want and since stocks tend to rise then fall and bonds tend to rise then fall I in theory and selling after a run up to overvaluation then buying when undervalued.

There are people a lot smarter than me that look at 3% vs 7% draw down risk, big bucket funds with low annual costs, and rebalancing strategy. BogelHeads.org is a forum for people that enjoy planning retirement and building wealth in the same passionate way that HuntTalk is for people that enjoy planning hunting and hunting.

Again, congrats and enjoy the heck out of retirement. You earned it!

 

[Sytes]

Retirement content... I listen more than speak.

Congrats on your retirement! I'm 8 years out... and counting.

 

[BearFoot]

Congrats on the retirement. Best days are ahead!

 

[hank4elk]

Welcome to the Real World BD!
No advice.
I lost big in the 1st post 9/11 crash,then was offered early retirement after 2008.....I went,& not with the bundle I was hoping. I could not see waiting for some recovery...
Bought property low & paid everything off & live simple.

 

[sbhooper]

Congrats on the retirement. Make sure that you stay busy. You stop moving and you will STOP MOVING! I retired from ICE at 50 1/2 (15 years ago) and have never regretted the decision for one minute. I could have made more money on retirement, had I stayed until the maximum age of 57, but I was to the point that the sanity was worth more than the money. I left before I killed somebody-in office, or out!

I finally got old enough to start withdrawing from another retirement account. When you are young, you think that you will never get there and then BAM you made it and have to make some decisions.

If I had it to do all over again, I would still retire early.

 

[manitou1]

I'm in your boat WyoDoug, except I will beat you to the punch at Feb, 2021... 18 months brother!
34 yrs military (active/reserve combined)
civil service, 15 yrs (26 with buy back)
Municipal Fire Dept retirement, 16 yrs
Social Security
It has been a good ride, but I am am getting tired, lol.
We are actually out in Wyoming looking at land purchase options (for building a home) right now!

 

[dcopas78]

Congrats on the retirement!

 

[Crossbowguy]

Congrats on your well deserved retirement! 9 more to go here!!!

 

[Irrelevant]

Congrats, in the words of my father, I might finally get to retire 2 days after I die.

 

[elkhnter]

Congratulations! Wife pulled the trigger 3/1 and I followed 4/1 this year. I had concerns about income, work get paid, don’t work don’t get paid, was the way I was raised. I took a 75 day contract with the state, so money’s not been an issue. They want to renew next year, so may agree.
In my opinion, rentals would be the last place I’d park money. We’ve had 5 other the years. Worst nightmare I lived through. Still have one and when the tenets move, I’m burning it down and selling the lot.
Hope you have a financial planner you trust, if not, get one.
Enjoy YOUR time. You’ll find you’re busier than when you worked.

 

[Old man bob]

I was gonna retire in NM. untill Phoenix econemy took a crap 10 years ago. You are in a Good place unless the Cartell is in Your Hood.I know they run New Mexico..To bad. I wont retire there now But if You have a pad paid for . Relax.............BOB!