dogghr
5 year old buck +
Statistically The average is you will live 10 years longer than your parents.
As to planning, I've never been too good at it. But I have tried my best to get done what I want to do before reaching retirement age. Life plays tricks. Health can go south. Friends you hang with pass. I've got my stuff paid for. The HD and sports car are 10+ years old and will out survive me. I've hunted and fished most the country and Canada. I've ridden the Harley across 44 states and Canada. I've visited what countries I wanted to see. So anything from here on is a bonus.
Watch and you will see MOST people do a major slowdown once they are in their 80s. And with that goes a lot of their spending.
My point, do while <60 yo. Plan to do plenty of stuff yet from 60-80. Then do what one wants from there on. And with that in mind, plan your monies accordingly.
Advisers don't want you draw on your retirement, as it hurts them. You are smart guys, just sit with paper and do the hard, sometimes painful math of what you truly need.
And plan ahead to some degree. I just sold my business, financing it myself at a respectable 6%. Leased the building I built 21 years ago to said buyer for 10 years. I can live on that but have filed to get some of my money back from the govt/social security. I am building down sized house after selling 26 yo house for decent profit. I sold an extra lot I paid $16000 for 65000. I will owe nothing but perhaps purchase a new car and the taxes on the farm and house. My current wife still works, and I will support another wife of past poor choices for some time to come!
I will perhaps draw 5%/yearly from my retirement nest egg but have no plans for that yet.
Plan ahead. Work your ass off without ignoring family. Do what you can when you are young enough and health doesn't rob you. Then slide into your October and ride the flow. Good luck to all.
As to planning, I've never been too good at it. But I have tried my best to get done what I want to do before reaching retirement age. Life plays tricks. Health can go south. Friends you hang with pass. I've got my stuff paid for. The HD and sports car are 10+ years old and will out survive me. I've hunted and fished most the country and Canada. I've ridden the Harley across 44 states and Canada. I've visited what countries I wanted to see. So anything from here on is a bonus.
Watch and you will see MOST people do a major slowdown once they are in their 80s. And with that goes a lot of their spending.
My point, do while <60 yo. Plan to do plenty of stuff yet from 60-80. Then do what one wants from there on. And with that in mind, plan your monies accordingly.
Advisers don't want you draw on your retirement, as it hurts them. You are smart guys, just sit with paper and do the hard, sometimes painful math of what you truly need.
And plan ahead to some degree. I just sold my business, financing it myself at a respectable 6%. Leased the building I built 21 years ago to said buyer for 10 years. I can live on that but have filed to get some of my money back from the govt/social security. I am building down sized house after selling 26 yo house for decent profit. I sold an extra lot I paid $16000 for 65000. I will owe nothing but perhaps purchase a new car and the taxes on the farm and house. My current wife still works, and I will support another wife of past poor choices for some time to come!
I will perhaps draw 5%/yearly from my retirement nest egg but have no plans for that yet.
Plan ahead. Work your ass off without ignoring family. Do what you can when you are young enough and health doesn't rob you. Then slide into your October and ride the flow. Good luck to all.
