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becareful of alot of those 7% annuities. most i looked at say in little letters in the fine print its based on age and the 7% applied if you were 80 and is not inclusive of fees and expenses.. when all is said and done if you see 2-3% your lucky. read them very carefully
That's your choice if you wish to spend it on crap, rather than spend it on something that will bring you a happier death, more peace of mind in the face of a vastly reduced income.
As they say: Nothing brings you closer to eternity than travel.
With my continual uncertainty that I wouldn't live long enough to enjoy world travel, I've traveled the entire globe, just to make double-sure I saw it all
before my first retirement check hit my mailbox.
Now? I've seen it all! Won't need that extra money anymore.
And who wants to climb around Greek ruins, Macchu Picchu, climb the Great Wall at 65?
That's a helluva lot of work, will you have the strength to do it at 65?
Now, now, now, is the time to do it, don't postpone it one single second, unless you plan to travel on cruise ships!
I agree with you about traveling as much as possible whenever possible. But what does that have to do with saving for retirement? You act as if the two are mutually exclusive. I've been traveling the world since my late 20s (I'm now 54), but I saved for retirement as well. The difference is back then I could only travel during certain timeframes and for specific periods of time based on my workload at the office and the regulations of my employer. So when I traveled to Indonesia, Thailand, Singapore and Hong Kong while in my 30s on one trip for example, I had to be back at work in three weeks. That didn't really give me adequate time to visit the area. And it was the only vacation I could take that year.
Now that I'm retired, I have the time and the money to travel as much as I want and as often as I want. In January for example, my wife and I are off for a six-week trip to South America. That's just not something we could have done while working. And it won't be our only trip next year either.
I started saving for retirement when I first entered the work force after college at age 22. Because I did so, I was able to take early retirement this year at age 54. Now I have all the time I need to really travel the world rather than trying to do it in two or three week vacation increments once or twice a year.
I agree with you about traveling as much as possible whenever possible. But what does that have to do with saving for retirement?
A lot, just see the rest of your post. When you are working full-time without gaps you don't get much vacation time. Furthermore, not everyone has a plush salary, many can't both contribute meaningfully towards retirement and go on vacations.
My retirement fund died with the Las Vegas real estate crash, and I'm just glad I wasn't depending on it to travel the world some day, as I wouldn't have gotten very far.
Curious = was your retirement fund invested mainly in a local real estate market?
I wasn't flipping houses, it was my own home. Paid $72k for it in 1996, it balooned to $200k in 2005, and now these townhouses are now selling for $39.5, and some are even picking them up at auctions for $25k.
I still have $12k left to pay on it and it will be paid off in less than two years with advanced payments. Wonderful retirement fund, huh?
I still have $12k left to pay on it and it will be paid off in less than two years with advanced payments. Wonderful retirement fund, huh?
Well, wonderful in that you'll have a paid off house that is an unreachable goal for many. That would certainly make retirement easier all you need is money for beer and the electricity to keep it cold.
I wasn't flipping houses, it was my own home. Paid $72k for it in 1996, it balooned to $200k in 2005, and now these townhouses are now selling for $39.5, and some are even picking them up at auctions for $25k.
I still have $12k left to pay on it and it will be paid off in less than two years with advanced payments. Wonderful retirement fund, huh?
It's only a paper loss or gain until sold. In the meantime it is the roof over your head.
I know many that moved to LasVegas... most moved from Oakland, California
One entire family moved... 5 households in all... Parents and their 4 married children and family... they camped out somewhere near Iron Mountain to win the lottery for homes.
They were so excited to move... never seen anything like it. A lot of their friends also moved... Several had homes that were nearly paid off here in Oakland.
All 4 of the children lost their homes... and the money they had put in. The parents still have their home because they paid cash.
One of the daughters said it was a huge mistake... she didn't like the temperature extremes, the jobs she and husband got paid 30% less and a lot of the promised improvements were stopped because of lack of funding.
A neighbor bought 2 luxury condos and also walked away... I feel sorry for all those that came with such high hopes and lost.
For a welcome change, Las Vegas is now losing population to the tune of 70,000 in the last year alone. Where are they going? With a one-way U-Haul rental having risen to $1100 one way to Dallas(as reported in the local paper) with no U-Hauls coming this way, I wish many of them luck in Texas.
If the prices had even remained a little above what I paid for my home in 1996, I had planned, once paid off, to downsize to a $25k Coop unit in Tucson. which I've had my eyes on for some time, and go thru the torture of deciding how I'd spend the savings from downsizing.
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