Originally posted by imanihonjin
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yep. we have a good pension, yet I still max out my 401k and double that amount by contributing to a 457b. I've never talked to a retiree who complains about having too much money in retirement.I'm like LeBron James.
-mpfunk -
You may not care, but if nothing is done, you will pay for it.Originally posted by BigFatMeanie View PostComment
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Correct - it does cut both ways and a pension/401K combo is a good solution. I was looking at it from an either/or position. I wonder what the ROI difference would be between a traditional pension with average life span and having those same funds invested in the market over a 30-40 year period in a 401K. I already know that I will be taking my small pension as a lump sum so I can invest those funds. But that's just my situation since that small pension is only about 5% of my retirement funds. I doubt I would make the same decision if I had a government pension paying 65% of my salary.Originally posted by Jeff Lebowski View Post“Not the victory but the action. Not the goal but the game. In the deed the glory.”
"All things are measured against Nebraska." falafelComment
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Anyone a Mustachian? I work with a gal who is set to retire in 4 years at the ripe old age of 34. She will have her house paid off and have 800k in the bank."Be a philosopher. A man can compromise to gain a point. It has become apparent that a man can, within limits, follow his inclinations within the arms of the Church if he does so discreetly." - The Walking Drum
"And here’s what life comes down to—not how many years you live, but how many of those years are filled with bullshit that doesn’t amount to anything to satisfy the requirements of some dickhead you’ll never get the pleasure of punching in the face." – Adam CarollaComment
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How much would it take for you to retire/leave work
My wife like that blog.Originally posted by Mormon Red Death View Post
Hmm, doesn't seem like enough money.Ain't it like most people, I'm no different. We love to talk on things we don't know about.
Dig your own grave, and save!
"The only one of us who is so significant that Jeff owes us something simply because he decided to grace us with his presence is falafel." -- All-American
"I know that you are one of the cool and 'edgy' BYU fans" -- Wally
GIVE 'EM HELL, BRIGHAM!Comment
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It depends if you live on small amounts like she does you would live on the interest and never touch the principle. She isn't going to have a mortgage, she rides her bike instead of drives so her car last forever. She has google internet so it was a one time payment. Very minimalist/frugal life.Originally posted by falafel View Post"Be a philosopher. A man can compromise to gain a point. It has become apparent that a man can, within limits, follow his inclinations within the arms of the Church if he does so discreetly." - The Walking Drum
"And here’s what life comes down to—not how many years you live, but how many of those years are filled with bullshit that doesn’t amount to anything to satisfy the requirements of some dickhead you’ll never get the pleasure of punching in the face." – Adam CarollaComment
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The idea of a life that frugal sounds like hell to me. I can't imagine being in that kind of budget from 34 on just so I don't have to have a job.Originally posted by Mormon Red Death View PostAin't it like most people, I'm no different. We love to talk on things we don't know about.
Dig your own grave, and save!
"The only one of us who is so significant that Jeff owes us something simply because he decided to grace us with his presence is falafel." -- All-American
"I know that you are one of the cool and 'edgy' BYU fans" -- Wally
GIVE 'EM HELL, BRIGHAM!Comment
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To each his own... I mean they claim they don't make that many sacrifices. They ride their bike a lot. They hang their clothes instead of the dryer. They make their lunch. I dont know it would be nice to wake up and not have to deal with the shit that comes with working.Originally posted by falafel View Post"Be a philosopher. A man can compromise to gain a point. It has become apparent that a man can, within limits, follow his inclinations within the arms of the Church if he does so discreetly." - The Walking Drum
"And here’s what life comes down to—not how many years you live, but how many of those years are filled with bullshit that doesn’t amount to anything to satisfy the requirements of some dickhead you’ll never get the pleasure of punching in the face." – Adam CarollaComment
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Yeah. For a few weeks. Then I would go crazy.Originally posted by Mormon Red Death View Post"There is no creature more arrogant than a self-righteous libertarian on the web, am I right? Those folks are just intolerable."
"It's no secret that the great American pastime is no longer baseball. Now it's sanctimony." -- Guy Periwinkle, The Nix.
"Juilliardk N I ibuprofen Hyu I U unhurt u" - creeksterComment
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I have a good friend who came up with an algorithm that is used for a hedge fund. The fund has over $700M under management and he is now retired. All he does now is read reddit and drive his wife crazy."If there is one thing I am, it's always right." -Ted Nugent.
"I honestly believe saying someone is a smart lawyer is damning with faint praise. The smartest people become engineers and scientists." -SU.
"Yet I still see wisdom in that which Uncle Ted posts." -creek.
GIVE 'EM HELL, BRIGHAM!Comment
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Maybe but you could decide what you would want to do. Coach football...get into woodworking, go on bike rides. Have a kick ass garden. You could write, learn new languages... the idea is intriguing.Originally posted by Jeff Lebowski View Post"Be a philosopher. A man can compromise to gain a point. It has become apparent that a man can, within limits, follow his inclinations within the arms of the Church if he does so discreetly." - The Walking Drum
"And here’s what life comes down to—not how many years you live, but how many of those years are filled with bullshit that doesn’t amount to anything to satisfy the requirements of some dickhead you’ll never get the pleasure of punching in the face." – Adam CarollaComment
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Your options of what you could get into on that budget are severely limited. Woodworking, for one, is not really an option. And I think several on here can talk to the expenses of biking as a hobby. Travel, which is what a whole lot of people want to do when they retire, is pretty much out as well.Originally posted by Mormon Red Death View Post
As you said, to each his own, but I kind of like my job. I certainly like it more than restraining myself to that extent.Comment
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For her sake, I hope she stays healthy. Hospital costs will blow that plan out of the water real fast.Originally posted by Mormon Red Death View PostI'm like LeBron James.
-mpfunkComment
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We throw the term around all the time, but it is mostly misused. But here is a genuine, honest-to-goodness humblebrag. Well done.Originally posted by Bo Diddley View Post"There is no creature more arrogant than a self-righteous libertarian on the web, am I right? Those folks are just intolerable."
"It's no secret that the great American pastime is no longer baseball. Now it's sanctimony." -- Guy Periwinkle, The Nix.
"Juilliardk N I ibuprofen Hyu I U unhurt u" - creeksterComment
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Since I work for the Feds and it's getting close, I will get a small pension (1.1% x nr of yrs worked x average high three yrs salary, if I work to age 62) + social security + TSP savings. The Feds match the TSP contribution dollar for dollar for the first 5%. I'm still amazed at how many new hires are not putting the full 5% into the TSP
My FU point ( the point that if I get fed up enough I can just retire) is in 3 1/2 yrs, but I wll probably work 2 or 3 yrs beyond that. I figure I will have somewhere between 800K and a million dollars in my TSP accounts and about 33 to 35 yrs, including my military time when I finally pull the plug.
One story - when I first started, the Feds were still using the old retirement system - pension and no Social Security and max out pension at 41 yrs. One of my coworkers was tasked to go TDY to South Dakota and he didn't want to go. He said there was no reason for him to go and the Unit in South Dakota just wanted someone to hold their hand while the modded their air planes. The discussion between this gentleman and the boss went on for about 6 weeks. Finally on the Friday before he was supposed to go, the boss gave him a direct order to go get his tickets. The Gentleman excused himself and left. We all thought to get the tickets. The next Tuesday morning, the boss gets a call from the unit wanting to know where the gentleman is. The boss says he's supposed to be there, so he'll check it out. The boss calls the calls the gentleman at home to find out what's going on. The gentleman tells the boss "I told you I wasn't going - I retired Friday, so I don't work for you anymore." and hangs up the phone.
The gentleman 57/58 and was one of the people who was drafted at 18, when the got out went right to work for the Feds, so he had just about maxed out his retirement
You can't do that any more - you have to give them two weeks to process the paperwork - but that is the way to go!Last edited by happyone; 01-20-2016, 10:03 AM.
I may be small, but I'm slow.
A veteran - whether active duty, retired, or national guard or reserve is someone who, at one point in his life, wrote a blank check made payable to, "The United States of America ", for an amount of "up to and including my life - it's an honor."Comment
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