Where did most of your assets in retirement come from? (moving, conversation)
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Played, played played....spent, spent, spent...invested in what I was passionate about....lived above my means. NOW I'm living a simple life and I'm enjoying it immensely!
I was lucky. I don't want to say it was all luck, but my Retirement Funds benefited from the Big Bull Market of our Generation. I opened an IRA as soon as it was legislated, mainly for the Tax Reduction. It was invested aggressively, it took off in 1982 and ran-up impressively.
My MegaCorp offered a 401K with a generous match. The Company Stock became the darling of Wall Street, and I was heavily over-weighted. Some would say too heavy. But when the stock is doubling and splitting and doubling again -- I let it ride.
My position at Mega gave me an overview of the Tech Sector Stocks. I used Fido's Mutual Funds in my IRA, like Select Tech and their Low Priced Fund. The 80's and 90's were very good to us.
The happy by-product is that all this Tax Sheltered Loot allowed us to get a 15-year Mortgage and by the time we paid it off, our DD was starting College. We helped her get a Master's Degree with zero Student Loan Debt.
The People's Republic of New Jersey is a very HCOL place, even with minimal Housing Expense. Very difficult to Retire with that Cost of Living. We moved to a more stable region of the country.
Since this is a retirement forum and most of us are retired and of a certain age:
Company pensions. Most people I know get one.
Social Security. Most people I know get that.
Downsized. I live in a 55+. We all had bigger homes before. We spent less on this one than we sold the last one for. I bought about 40% less than I sold for.
Inheritance. Most people inherit something. Maybe not much but they do get something.
Stocks and Funds. Again, don't really know anyone that never had any.
Since this is a retirement forum and most of us are retired and of a certain age:
Company pensions. Most people I know get one.
Social Security. Most people I know get that.
Downsized. I live in a 55+. We all had bigger homes before. We spent less on this one than we sold the last one for. I bought about 40% less than I sold for.
Inheritance. Most people inherit something. Maybe not much but they do get something.
Stocks and Funds. Again, don't really know anyone that never had any.
This post reflects a reality that often gets lost in the forum. We know who we know and not who other people know. So yes we have the generalized other people's world v our own real world. Mine is like yours.
On a more serious note, most of our retirement assets were not generated in 401ks or IRAs or Roth IRAs. They were from saving then-current compensation instead of spending it. We invested mostly in equities.
Sold two houses for 1 million dollars after taxes. Will inherit two more houses which I will sell for another million. I'll never get to spend it all. Then again, if I have to hire an-around-the-clock nurse I guess I will.
Q: Where did the majority of your retirement assets come from
Also need to add the Plastic Surgeon.
Nice Tada's.
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