Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
If you have a chance to advice someone who is 20+ yrs from retirement what would it be
other than the usual financial stuff [ like saving more, spending less etc]
Thanks
You also need a Plan #2 as many companies will shove Senior employees out the door in their mid-50's, a decade earlier than the workers may have planned.
Plan should include:
• getting by on the income from their projected age 55 savings.
• developing the skills necessary to make themselves highly desirable as a mid-50's employee.
• building a very strong contact list for a late career hire.
• creating and sustaining the mind-set that will allow the person to acceot such a change.
When I was 54 I switched over to putting new 401k contributions into a Roth account. There are a couple of lines of thought on this.
The main consideration is for the survivor (wife or myself) to stay out of higher tax brackets and higher IRMAA bands. Spending will drop when it's just one of us, but nothing close to a 50% cut.
Second consideration is to possibly help pay for large expenses (dental work, home repairs, etc). Again, the concern is getting pushed into higher bands.
So... not planning to use it for spending when we first retire. Will just let it grow until a situation arises where a non-taxable withdrawal is useful.
we dont share the same interests or hobbies
we dont like the same places to visit
but intimacy is good and we agree on raising kids the same way
no marriage = no divorce
I did all the traveling i wanted to , no desire anymore
other than wanted to see land of slavs well that cant happen for a long time anyway
agree benefits are very important
I don't have kids, but I believe it's important that you enroll them in good schools despite the cost of private schools. In addition to being the best thing you can buy to your kids, it greatly increases probability that they won't depend on you when you are retired. Re land of Slavs, there are many Slavic lands that are not in a war (eg, Chech Republic, or Poland, or South Slavic countries) where you can travel. But I hear what you say; I was all set on a Trans-Siberian Railway trip from Beijing to Moscow before the hell broke loose. Doesn't seem that particular trip will be happening for me, probably ever .
Plan where you will retire. Visit the possibilities in all seasons. Each place is different. Seattle gets a tiresome volume of rain, Arizona gets serious heat in the summer, Hawaii is said to be expensive.
We moved to Florida twice, have no plans to ever leave. Some folks like to go skiing, I would prefer sailing.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
.