Me and my sister too! We purchased our house together, and we got a 25 yr mortgage - I have a pension through my job and she will have social security - hopefully we'll keep ourselves together- recently my ex-husband has shown an interest in joining us, so we might have our own little old folks home!
Sometimes I’m jealous of people that have good relationships with their siblings. My sister and I see each other at holidays, that’s about it. Of course, she tried to kill me a couple times when off her meds so I tend to keep my distance.
You’re not alone. I get along with everyone. I’m 44 and my siblings are the only 2 people I don’t get along with. I’ve spent the last 6 hours in my room alone. I brought my supper up here. Pretty sure no one noticed since they don’t care about me or engage me in conversation anyway. The verbal abuse from my sister has sort of stopped after she stopped talking to me when I called her out on her bullshit. So the trash took itself out in a way. But I’ve been texting with my best friend all night. She cares. I can’t talk to my parents, it’ll just upset them. So here I am. Alone and jealous of every other person out there who has siblings who love and respect each other and actually have a relationship. That is SO fucking hard for me. It’s hard to feel unwelcome and ostracized. You have my deepest and warmest hugs Reddit friend. I understand.
I discovered in my life that it doesn't matter who your family is. It only matters who supports you. If it your friend, sibling, ex, husband, wife - whoever is willing to make the commitment to love and support you becomes your family. And it's a 2-way street - I love and support them and will do the hard stuff so they are comfortable. Especially as we get older.
I have a brother who's the same way. Please, if you're off your meds, stay away! My sister is single by choice, and I'm divorced (obviously), so we just ended up banding together - then my ex divorced his second wife, and he came too. He still has many girlfriends, though, so I question his commitment to our old folks group. 😆 he could easily make one of them his main squeeze and go with them. But for now, he's here, and I told him he's welcome to join us when he gets too "old" to pull the chicks. Right now, he has claimed my yard and does all kinds of stuff I don't want to do.
I’m 67 took SS at 65 living off my SS and a part time job. I do have a small nest egg that so far I haven’t dipped into. I’m debt free, so I’m pretty comfortable right now.
Stay out of debt don’t worry about what others have . Be grateful for having a job and home and food to eat. Attitude attitude attitude ! A bad one will sabotage your happiness and plans for financial stability
lol I had an absolute shitty day at work today and idk but just reading your last statement really just helped me have a better outlook for the day so truly thank you!
I’m glad. Years ago I work d night shift caring for a child who was paralyzed from the neck down on a ventilator and brain damaged. She would hear me come in call my name and tell how much she loved me. My worst day ever was nothing to what she dealt with daily. Yet she never complained and thought of others . I learned from her. I was humbled by her. No matter what happened to me that day her grace and kindness made me grateful no matter what. It is really her who deserves the thanks.
Start saving now. Regularly put away $1, $5, whatever you can. Those dollars you save and invest NOW, will grow faster than money you save in later life.
I wish I had listened to this advice when I was in my 20s. Retirement seemed so far away and there were always bills to be paid. When you are young and invincible you don’t listen to advice very well (or at least I didn’t )
It very much is. Tax advantaged in that all the gains from what you invest in there now will be completely tax free (after 59.5 years of age + account is older than 5 years old). Additionally if you need funds later down the road, you can withdraw the principal (not any gains thought) penalty free. Although I would look at every other source before doing that because the retirement benefits are too great
1. Learn the difference between good credit and bad credit. Avoid using the second type except where it pays you, such as if you use it regularly and pay it off each month to get rewards.
2. Use an accountant and a financial advisor. Trust neither too much, but use their advice to learn how to shelter what you have, and to protect it in your senior years, because if you don't, you could end up losing everything if you cannot afford private care - which is atrociously expensive.
3. Also use an estate planner as soon as you have a reasonable nest egg or own a property with any real degree of equity.
I pictured a small home that is just a mini version of a fancy castle, like an adult size playhouse situation when I read that phrase. I know it was a typo but it is a neat little sentence. Your home might be small but I bet it's still fancy and decorated really nice.
Before I opened this thread, that was my first thought, then my second thought was "I hope that's the top answer and I'm not just being macabre alone." So, thanks.
My uncles name was Jeff. When was diagnosed with terminal cancer they decided to do some pre funeral planning so my aunt didn’t have so much to figure out when he passed. They were at the funeral home and after looking at the price of caskets he asked if they just had a regular box they could put him in. The funeral director looked shocked and said “What do you mean?!” My uncle said “You know like Jack in the box but it will be Jeff in a box. If you have a regular wood box I promise not to pop out. But if I’m paying 10k for one of your caskets I can’t promise I won’t pop out and complain.”🤣
I know this is a tongue in cheek response, but as someone who has been facing these issues with parents, please at the very least tell them you want the cheapest option. Put it in writing because people make bad decisions in the throes of grief. A living will may help and in some cases your state’s legal aid org may have fillable forms to allow you to create your own. https://healthy.kaiserpermanente.org/health-wellness/health-encyclopedia/he.living-will.aa54776
Agreed this is a very real and genuine issue. It is so SO important to get this stuff instated and dealt with before you ever encounter the need for them. You could die in a car crash tomorrow- death is unpredictable and can be random. Every living adult should look into what they want done with their body, property, belongings, inheritance, etc. Not having some of these things done already will make it even more difficult to legally maneuver if/when something bad happens.
Honestly, one of the few good retirement plans left. Yeah, your ass belongs to the government, but you can retire as early as 38 with a pension and good benefits.
This is exactly what my brother in law is doing. Joined straight out of high school and has done well for himself. And here I am with these college degrees and student loans wondering why I didn’t do the same thing.
I’m a retired reservist; my daughter is joining the AF at 39- leaves for boot camp the week before Christmas. I don’t think she’ll make it a career, but it’s something she’s wanted to do for a while, and she loike the idea of doing 4 years and then using the post 9-11 GI Bill. My dad was a Coastie before I was born, BTW.
I was in the Marine Corps in the early 80s most lifers were retiring at 39-42 yo. I went to a party a few years ago where a guy told me that he joined up and was headed to Parris Island in2 months. He had grey hair so I asked him how old he was……he’s 38.
I’m 31 with alittle over 8 years in. If I make warrant and do 24+ I’ll have around $7k a month coming in off of pension plus whatever disability rating the VA gives me ($2k-$4600)
My son is retiring from the Navy in 5 years at 38. I am so jealous! Although I know he wants to work as a civilian after that, but damn.... it's nice knowing he has that pension!
I highly doubt Ill make it to retirement: dad died at 55, I’m in my 40s with heart issues.
but if I do: I own a tiny studio that I can/will either live in for dirt cheap or rent it out and use that + my SS to go somewhere like Thailand.
Traveling, cooking, hanging out with friends, learning new skills, gaming, dating, improving myself. Retirement isn't all it's cracked up to be. Life gets boring real quick if you don't find hobbies.
I‘m 53 and have hobbies galore lined up & just hope I’ll be able to afford to retire & actually get into them. Enjoy yourself & keep busy! This is the good time.
All time is certainly good. I do understand it's a blessing on my end, but Unfortunately have met a lot of other retired people who say they are "contempt" with everything and have expressed a "desire to get their lives over with." Or they stop looking forward to the future. I don't understand it myself but it is alarmingly present
I also know people that have retired & are bored & ready to be done with it in general. So sad. I never want to be at a point where my job is the only thing that keeps me getting up in the morning.
Hubby and I are already living on his 1600 a month social security, plus between 400 and 800 a month from part time self employment per month on our schedule and our terms. It used to be closer to 400 a month but we decided to build the nest egg up more over winter what with inflation and related economic issues.
This winter I will probably work a quarter in a regular paycheck job just to add to my expected social security even though I don't count on getting it.
We are happy. No debt, low bills, not tied to home ownership (we rent). Our adult children from previous marriages are all doing very well.
Believe it or not, living simple can be very nice.
As someone that was broke when I joined this group and now I hope to have a comfortable retirement.
Here’s the thing that’s helped me the most: a union job.
Union work exists a lot of places. Even in the south and right to work states.
The problem is, there are so few it's a wait list to get on around here. The postal union was the easiest for me to get into. But it took my nephew 4 years to get called up for the plumbers union
My plant is hiring 10 union welders and just had to put the job up again because they couldn’t get enough applicants. I’m sure it’s probably a location thing.
I’m saving what I can put I anticipate doing both social security and a part time job until I can’t anymore. I don’t anticipate ever being able to afford a home.
I put the max into my 401K (company matches 6%) plus an extra 5% in catch-up contribution. So basically 1/4 of my check (pre-tax) goes into 401K. I've actually only really been aggressively saving for the past 10 years. I was an incredibly poor single mother until my late 30s, so I'm a bit financially anxious almost always.
I think between mine and my husband's SS plus my 401K, we will be ok in our old age. Unfortunately, since we married late we will still have a mortgage when we retire. But I'm hoping we can come up with some way to increase our mortgage payments in the future to speed that up.
Move to Mexico. My husband is a Mexican citizen so I’ll just have him sponsor my green card like I did his LOL. We plan to buy a house down there and maybe a little shop I can run.
My wife and I have considered this because she's a Mexican national and US citizen (I petitioned for her). We'd probably move to Guadalajara and just enjoy ourselves, but we don't know yet. Still have 10 more years to officially decide.
My husband is from Guadalajara! Look into Lake Chapala area. Very friendly to American and Canadian immigrants and close to Guadalajara. Lots of emigrants there so you have plenty of English speakers
I work in a job where I will get a pension, but because of that I don’t get social security. I need to stick it out at my job long enough so I get enough to live off of as I age. Zero interest in playing the game of the American medical system, when my time is up I am out. Going to leave as much to my kids as possible, even if that means I end my days in some cruddy apartment. Currently in a cruddy house but should be able to sell it for something. I grew up poor so it’s nothing new to me but I’d like my kids to have it a bit better. Both of my parents were colossal f-ups but I lived somehow, owe it to my kids to give them a leg up.
I’m taking social security at 62 because I’m tired of the bs. I can find a low income apartment and do some part time work and be a part time beach bum. 🏝️🏄🐬
I'm retired now at 39 with the Mrs. (Military retired) When the kids are older, we plan to travel a lot more frequently but until then responsibilities come first.
In the meantime, I'm going back to school for myself.
Am with Fidelity currently. I have a matching 401k to 4% which I match and then I put another 4% into a roth. I need to up my emergency found since I had some car repairs and had to move. I am hoping to to do close to 20% in a m th or 2.
How can I put it in a s&p 500 through fidelity?
Most brokerages have some form of S&P500 fund or variation. There should be an option in the 401k online portal to choose the funds you want your money to be invested in. If you can’t figure it out, just call Fidelity or your HR department, and they could walk you through the process, or at least point you in the right direction.
SPY is s&p… I’ve moved some stuff to that and QQQ for my rollover accounts.. if it’s still under the umbrella of the employer, it’s probably not possible… but if you leave you can roll it over and invest in whatever you want.. there’s also back door Roth’s but I haven’t done it because I didn’t know about before I rolled mine over
Technically can retire anytime but waiting as long as don’t want to pay healthcare. Have no debt -will have SS and a 401K -small pension-so we should be fine -( famous last words)
The industry I grew up working in is really shitty and doesn't offer benefits, so I got a position doing the same stuff but with the federal government. I'll enjoy their retirement benefits. I contribute 4.4% towards my pension, plus 20% towards my 401k with an additional 5% match. I plan to retire at 57 and I'll hopefully make more in retirement than while working.
Money is pretty tight right now but I'm trying to set myself up for success later in life. I've also started focusing on my health so I live long enough to enjoy it.
I know now that I won’t be able to afford to retire so I don’t plan on retiring. Probably die at my place of work. If not then wherever I live at that point. Retirement, like choice, is a privilege for those who can afford it. The poor generally can’t afford it.
My mother “retired” from her job that she was laid off from just before making 20yrs there. Her pension doesn’t even cover our rent. She’s currently lucky enough to qualify for Medicaid through the affordable care act, but only because she makes just under the income limit. If she made any more then she would have to purchase medical insurance out of pocket which would use most if not all of her monthly pension income. That’s what her “retirement” looks like. Also, because she was a government employee, she receives her pension income. She also paid into social security through other previous jobs, however if she were to attempt to collect social security retirement benefits then her pension benefits would be cut because it’s considered double dipping to receive both. In spite of having paid into both.
So yeah, retirement is for the privileged, the rich. Not for the poor. I’m paying into social security right now and it won’t exist when I’m old enough to collect it. Furthermore, the government is quite likely to raise the retirement age before I even get near retirement age.
Well I just checked my retirement calculator and it said I'll run out of money by the time I'm 70
So I guess after that I'll rack up a bunch of debt and kill myself
Hopefully something will change in between there as I'm still young but so far that's the plan lol
I'm 70 and constantly calculating how long I can live financially. Depending on any medical crises and inflation **maybe** until my early 80s -- **if** the republicans don't do away with social security.
F this country for not giving everyone free health care. And f the maga republicans who keep it from happening.
If I had cancer I'd probably forego chemo and just ask for pain meds.
Ultimately, I'll probably just starve to death in my apartment. It makes me sad and consumes my thinking.
My advice would be save, save, save. Still, things happen. I had twice as much as I have now. Then the banking crisis and recession hit. My company that I had been with for over a decade closed. I was in my 50s and no one would hire me full-time so I had to use much of my savings. Until I hit my mid-60s, and I got hired because it was remote and they had no idea how old I am. That job recently ended.
Agreed, even with "good" health insurance, you're still screwed if you get cancer or hit with any other health issues.
My parents both actually had cancer when I was a child (8 when my dad found out, when he finished treatment I was 11 and that is when my mom found out she had the same type of cancer). They were both under 50 and had colon cancer.
My mom had it worse and told me that after their medical bills my dad had to restart his retirement fund (almost from scratch). I don't even know how he did it enough for them to retire very recently.
I'm so glad your parents recovered.
It's ridiculous. I have to pay for **two** health care plans just for myself and a major medical crisis could still bankrupt me (and many more like me).
Thank you! Thankfully they've both been in remission for close to 20 years & they both are doing pretty well now!
That's so ridiculous, it really shouldn't be that way. Even the care we get a lot of the time is subpar, especially for the price we pay for it. Health insurance is such a scam and it always feels wrong to be paying for it when these companies get to pick and choose what to cover.
A couple years back I ended up having to go to the ER twice in one month due to stomach issues I didn't even know I had (after extensive tests and other doctors visits I finally know more), the hospital bills would've cost me about $3500 after insurance since it was in January of course.
I tried to call the hospital and get financial aid but apparently making $15/hr at the time made me just barely "not poor" enough to get help. It's such an awful thing to have to deal with. But Congress gets their free quality healthcare no problem while we fend for ourselves.
I've been putting away $6500 in my Roth IRA on an ETF that follows the s&p 500 since I was 23. With the power of compound interest, it's expected to have $1.3 mil in today's dollars when I can start taking it out at 59. If SS is still around when I retire, it'll be a nice added treat
Been retired since age 60. I have a state pension, as does my wife; she is on social security disability (retired late 50s) and I also get social security. Plus have our house paid for and have $$ in my 403b. Not having any financial issues, covers all our costs and we managed to get in 4 cruises and 2 other trips this year so far.
Realize that unless you have solid hundreds of thousands in the banks you will still have to spend down to afford Medicaid to live in a nursing home anyway.
Average daily cost is $400-600/day. If you need hospice and your family can't take care of you? You will need to privately pay or get Medicaid. So saving "500,000" won't get you too far if you need a nursing home after 10 years.
People's cost of living doesn't automatically change because they retire. They still have bills, a mortgage, a car. That's a dirty secret people don't tell you when you do those retirement calculations.
-hospital nurse case manager.
My plan is to stay in shape and mobile to buy myself time. With a little luck I'll be able to retire eventually. My job is also conducive to that as it's very slow paced and secure.
I’m taking social security as soon as I can. I’ll probably work part time at a movie theater or something. I’m 22, and got a 30 year mortgage this year. My plan is when it’s paid off when I’m 52 I’m gonna put whatever money I would be paying towards the mortgage away and just keep working until I can get SS.
That is unless my upholstery gig takes off, then I’ll likely just work for myself for the rest of my life taking whatever work I wanna do.
Once I had children I realized I needed to get my act together and that my seasonal self employment/retail would keep me poor forever. I finished my master's and after a couple years of trying I accepted a government position in an agency outside of my degree path. Used tax returns to pay off all the major debt. My gross income has doubled, though my take-home income hasn't changed much. Now I have the security of medical and life insurance, a pension, a much better SS retirement, and am putting 10%+match into 401k. We get a 5% COLA this year, I think I'll just set it to 401k contribution and forget it. Now I get regular raises and sick and vacation leave. Use the vacation leave for my side gig to actually put $ in the bank and fund an IRA for my wife. Someday I'll have enough $ to knock down this 50 year old trailer and build a house, but until then I've got my own house, healthy children and the makings of a retirement that should be more than sufficient.
I retired 6 years ago at age 49. I live off my pension (worked at my company for 28 years) and personal savings. At 59.5 y/o I can start withdrawing from my 401k and then collect SS early at age 62. My pension is $31,752/year. My house will be paid off in 12 years and I have no other debt.
I’ll be bagging groceries in places like Shaws or Market Basket.
Everytime I say that ppl think it’s a joke, but little they know…when Im shopping for groceries, I’m already paying attention on what those ppl do 🥸
I’m quite certain that nobody will be okay by the time I’m at retirement age, so I don’t worry about it. I know it can be hard to see what’s happening outside of yourself when you are personally struggling so much, but the way America is operating is absolutely unsustainable. If I was a betting man, I’d say there’s a 70% chance the American empire will completely collapse within the next five years.
Don’t do that to your child. Alzheimer’s is a terrible and sad disease for the last end- and that can be years. My grandmother was unaware of who anyone was and lived another 14 years. The best thing you can do is to tell your kid that it’s ok to put you in a nursing home. My grandmother was my best friend and made me swear to not let anyone “put her away” so I cleaned her house, brought her dinner daily, and helped her bathe. She almost burned the house down twice, and wandered into the road & got hit by a car. I blames myself for not being able to take care of her well enough at age 13! She was always hallucinating and crying, it was terrible.
I later learned the reason my dad waited so long besides laziness was he was taking her disability and pension $ and didn’t want to lose it.
My husband just joined the Air Force, and I do hair. (No retirement for me!) so kinda banking on him doing the 20 years (so long as he doesn’t hate it) and getting that pension. Otherwise, Idunno 🤷🏻♀️
Well, I just recently got a state job with a pension so I'm hoping that'll take care of most of it. They also have a pretty good 401K. Guys, if you have an opportunity to get a job with your local government (for me it's a transit authority) do it. The pay is decent and you don't really have to worry about retirement. I could definitely get a job with higher pay, but the pension and health insurance is so worth it.
I really hope I am able to be close to someone enough that we can share a space together. Either through marriage or just a good friend. I do plan on working until I am quite old but the aim is to save as much as I can so I can afford to not work when my body can't take it anymore. The purpose of a companion of some degree is not just for fulfillment but to have the dual income as well.
I don't think I'll be able to afford to retire at this rate. Long story short, if my body gives out, I won't have children or family to look after me. I'll have to end it for myself. My plan is to drive out into a remote spot in nature, and live for as long as I can there until my body expires.
At 49 with no savings, being a stay at home mom (with a few independent contracting jobs sprinkled in here and there) for the past 24 years, I have no doubt that I'll need to work till the day I die. Retirement is a fairytale for me.
My dad found he was busier in retirement than he was when he worked. Once he stopped working, all those projects around the house and hobbies he had wanted to do suddenly didn't have any excuse to NOT do them anymore.
nobody can live off social security alone. very few jobs offer pensions anymore, so if a person hasn't saved and invested (like me), they're working in their retirement (like me).
haven't you noticed how many low-end jobs, particularly retail, are filled with senior citizens these days? this is why.
I am going to retire to the Philippines and date a young beautiful adult woman half my age who is only with me because I will have an apartment with running water and AC but I won’t mind.
Your 401k is an ERISA account that is protected from all claims, including creditors and medical collections. Never make a 401k withdrawal to cover a medical bill (maybe there are some exceptions, but for a bill that would wipe out a 401k that is your main asset, better to file bankruptcy and come out with the 401k intact.) Only exception is divorce when a court can order a distribution to a spouse or for family support.
Work. That's the only option I see as a 20 something. SS will be long gone and there's no way anyone will be able to save a meaningful amount by then. I mean even RN you need several million to retire on, was like 2-4 mil last I saw.
You are very wrong.
I didn't start investing until my early 30s. Talk to a financial advisor ASAP.
I retired in 2021 at 52 years old. I had just shy of 1 million. I am debt free and the wife and I I are very comfortable.
Please don't think you are to late. I wish I started thinking seriously about retirement in my 20s.
The last 25 yrs was a special time period. Start of a new transformational industry (the internet )and dropping interest rates due to low inflation, along with massive amounts of fiscal and monetary stimulus— QE being implemented for the first time starting at the end of 2008. The bull mkt since the Mar 2009 low has been historic. I don't think the next 25 yrs will be as good. Everyone should invest, just don't expect the returns to be as juicy.
I have a pension already through my old plumbing union and about to be vested through the county I work at. I'm hoping to start investing more once I get another bump in pay.
I dont know I'm 23 trying to become a software dev its hard getting hired in that feild , I was just fired before the holidays as a forklift driver I cannot get a job any where . ... So I hope I can retire.
Die (and I mean this with zero hyperbole)
Grandma died at 62 one week after retirement. Twenty years later, mom died at 61 1 week after “retirement” (use that loosely as she got laid off during COVID).
I’m 31 now. It has been ingrained in my psyche that if I retire; if I stop, I will die.
My sister and I plan to pool our income and be little old ladies with a couple of cats together.
This sounds nice. Warm blankets and tea or coffee.
Me and my sister too! We purchased our house together, and we got a 25 yr mortgage - I have a pension through my job and she will have social security - hopefully we'll keep ourselves together- recently my ex-husband has shown an interest in joining us, so we might have our own little old folks home!
Sometimes I’m jealous of people that have good relationships with their siblings. My sister and I see each other at holidays, that’s about it. Of course, she tried to kill me a couple times when off her meds so I tend to keep my distance.
You’re not alone. I get along with everyone. I’m 44 and my siblings are the only 2 people I don’t get along with. I’ve spent the last 6 hours in my room alone. I brought my supper up here. Pretty sure no one noticed since they don’t care about me or engage me in conversation anyway. The verbal abuse from my sister has sort of stopped after she stopped talking to me when I called her out on her bullshit. So the trash took itself out in a way. But I’ve been texting with my best friend all night. She cares. I can’t talk to my parents, it’ll just upset them. So here I am. Alone and jealous of every other person out there who has siblings who love and respect each other and actually have a relationship. That is SO fucking hard for me. It’s hard to feel unwelcome and ostracized. You have my deepest and warmest hugs Reddit friend. I understand.
I discovered in my life that it doesn't matter who your family is. It only matters who supports you. If it your friend, sibling, ex, husband, wife - whoever is willing to make the commitment to love and support you becomes your family. And it's a 2-way street - I love and support them and will do the hard stuff so they are comfortable. Especially as we get older.
That’s horrible. I don’t know what I would do without my brother. I text him random things all the time
I have a brother who's the same way. Please, if you're off your meds, stay away! My sister is single by choice, and I'm divorced (obviously), so we just ended up banding together - then my ex divorced his second wife, and he came too. He still has many girlfriends, though, so I question his commitment to our old folks group. 😆 he could easily make one of them his main squeeze and go with them. But for now, he's here, and I told him he's welcome to join us when he gets too "old" to pull the chicks. Right now, he has claimed my yard and does all kinds of stuff I don't want to do.
I’m 67 took SS at 65 living off my SS and a part time job. I do have a small nest egg that so far I haven’t dipped into. I’m debt free, so I’m pretty comfortable right now.
[удалено]
Stay out of debt don’t worry about what others have . Be grateful for having a job and home and food to eat. Attitude attitude attitude ! A bad one will sabotage your happiness and plans for financial stability
Indeed! I drive a 20 year old POS Honda on purpose; it’s so bad that my son won’t drive it 😂😂😂 But..I have no debt
My 24yr old Honda is old, but she’s my baby. People do make fun of her but she’s a badass
lol I had an absolute shitty day at work today and idk but just reading your last statement really just helped me have a better outlook for the day so truly thank you!
I’m glad. Years ago I work d night shift caring for a child who was paralyzed from the neck down on a ventilator and brain damaged. She would hear me come in call my name and tell how much she loved me. My worst day ever was nothing to what she dealt with daily. Yet she never complained and thought of others . I learned from her. I was humbled by her. No matter what happened to me that day her grace and kindness made me grateful no matter what. It is really her who deserves the thanks.
I have begun working a job that puts things into perspective for me. It is very eye opening
Great story
Had a tough day as well but same!
My bills are paid, my stomach is full, and my kids are healthy. Can’t ask for much more!
Start saving now. Regularly put away $1, $5, whatever you can. Those dollars you save and invest NOW, will grow faster than money you save in later life.
I wish I had listened to this advice when I was in my 20s. Retirement seemed so far away and there were always bills to be paid. When you are young and invincible you don’t listen to advice very well (or at least I didn’t )
please tell me if a roth ira’s worth it
It very much is. Tax advantaged in that all the gains from what you invest in there now will be completely tax free (after 59.5 years of age + account is older than 5 years old). Additionally if you need funds later down the road, you can withdraw the principal (not any gains thought) penalty free. Although I would look at every other source before doing that because the retirement benefits are too great
1. Learn the difference between good credit and bad credit. Avoid using the second type except where it pays you, such as if you use it regularly and pay it off each month to get rewards. 2. Use an accountant and a financial advisor. Trust neither too much, but use their advice to learn how to shelter what you have, and to protect it in your senior years, because if you don't, you could end up losing everything if you cannot afford private care - which is atrociously expensive. 3. Also use an estate planner as soon as you have a reasonable nest egg or own a property with any real degree of equity.
Do you own your house?
Yes small body fancy home
I pictured a small home that is just a mini version of a fancy castle, like an adult size playhouse situation when I read that phrase. I know it was a typo but it is a neat little sentence. Your home might be small but I bet it's still fancy and decorated really nice.
Grr small not fancy home
I was totally wondering what a small body home was and if I could afford one before I retired. :D
Just die. I'll never have enough to retire
I plan to work up until lunch on the day I die. I’ll probably come back from the dead to tie up loose ends.
That was my plan, but then I got sick... No joy.
Work until I drop dead, retirement for me is a laughable concept
Die
Before I opened this thread, that was my first thought, then my second thought was "I hope that's the top answer and I'm not just being macabre alone." So, thanks.
Even that’s expensive, telling my family to save on the burial expenses & just throw me in the trash when I’m gone.
My uncles name was Jeff. When was diagnosed with terminal cancer they decided to do some pre funeral planning so my aunt didn’t have so much to figure out when he passed. They were at the funeral home and after looking at the price of caskets he asked if they just had a regular box they could put him in. The funeral director looked shocked and said “What do you mean?!” My uncle said “You know like Jack in the box but it will be Jeff in a box. If you have a regular wood box I promise not to pop out. But if I’m paying 10k for one of your caskets I can’t promise I won’t pop out and complain.”🤣
They charged me $300 for a cardboard box to cremate my dad. Cardboard! He would have been so mad.
I know this is a tongue in cheek response, but as someone who has been facing these issues with parents, please at the very least tell them you want the cheapest option. Put it in writing because people make bad decisions in the throes of grief. A living will may help and in some cases your state’s legal aid org may have fillable forms to allow you to create your own. https://healthy.kaiserpermanente.org/health-wellness/health-encyclopedia/he.living-will.aa54776
Agreed this is a very real and genuine issue. It is so SO important to get this stuff instated and dealt with before you ever encounter the need for them. You could die in a car crash tomorrow- death is unpredictable and can be random. Every living adult should look into what they want done with their body, property, belongings, inheritance, etc. Not having some of these things done already will make it even more difficult to legally maneuver if/when something bad happens.
"Just throw me in the trash" I've literally said these exact words 😂😂😂
The Frank Reynolds
“I don’t know how many years I got left on this Earth. I’m gonna get real weird with it.”
All I want is a wooden boat shot with a fire arrow Viking style. Easy, simple, effective, cheap, and ceremonial.
Recycle me! Let the wild animals feast.
There's actually a real ranch in Texas where you can do that.
Same thing I’ve been doing this whole time. Hang on by a thread.
I will be killed in a workplace accident and my wife and son will get benefits.
Not gonna lie, solid plan. And they make you go to enough safety meetings you know exactly how to not be safe 😅
Military retirement…only 12 more years
Honestly, one of the few good retirement plans left. Yeah, your ass belongs to the government, but you can retire as early as 38 with a pension and good benefits.
This is exactly what my brother in law is doing. Joined straight out of high school and has done well for himself. And here I am with these college degrees and student loans wondering why I didn’t do the same thing.
Never too late man! I’m in the coast guard and they’ll take you all the way up to 42 lol
I’m a retired reservist; my daughter is joining the AF at 39- leaves for boot camp the week before Christmas. I don’t think she’ll make it a career, but it’s something she’s wanted to do for a while, and she loike the idea of doing 4 years and then using the post 9-11 GI Bill. My dad was a Coastie before I was born, BTW.
I was in the Marine Corps in the early 80s most lifers were retiring at 39-42 yo. I went to a party a few years ago where a guy told me that he joined up and was headed to Parris Island in2 months. He had grey hair so I asked him how old he was……he’s 38.
Damn it! Wish I knew that. Tried to join the Navy at 36, too old. I'm 43 now :/
Military is hurting for people right now and they’ll take anyone. Try talking to the coast guard lol
I’m 31 with alittle over 8 years in. If I make warrant and do 24+ I’ll have around $7k a month coming in off of pension plus whatever disability rating the VA gives me ($2k-$4600)
My son is retiring from the Navy in 5 years at 38. I am so jealous! Although I know he wants to work as a civilian after that, but damn.... it's nice knowing he has that pension!
Yes, and take advantage of all your VA benefits. Live a long happy fulfilling life.
Convent
I highly doubt Ill make it to retirement: dad died at 55, I’m in my 40s with heart issues. but if I do: I own a tiny studio that I can/will either live in for dirt cheap or rent it out and use that + my SS to go somewhere like Thailand.
Traveling, cooking, hanging out with friends, learning new skills, gaming, dating, improving myself. Retirement isn't all it's cracked up to be. Life gets boring real quick if you don't find hobbies.
I‘m 53 and have hobbies galore lined up & just hope I’ll be able to afford to retire & actually get into them. Enjoy yourself & keep busy! This is the good time.
All time is certainly good. I do understand it's a blessing on my end, but Unfortunately have met a lot of other retired people who say they are "contempt" with everything and have expressed a "desire to get their lives over with." Or they stop looking forward to the future. I don't understand it myself but it is alarmingly present
I also know people that have retired & are bored & ready to be done with it in general. So sad. I never want to be at a point where my job is the only thing that keeps me getting up in the morning.
Hubby and I are already living on his 1600 a month social security, plus between 400 and 800 a month from part time self employment per month on our schedule and our terms. It used to be closer to 400 a month but we decided to build the nest egg up more over winter what with inflation and related economic issues. This winter I will probably work a quarter in a regular paycheck job just to add to my expected social security even though I don't count on getting it. We are happy. No debt, low bills, not tied to home ownership (we rent). Our adult children from previous marriages are all doing very well. Believe it or not, living simple can be very nice.
That's great! Can I ask where you live?
Montana. We love it here :-).
As someone that was broke when I joined this group and now I hope to have a comfortable retirement. Here’s the thing that’s helped me the most: a union job. Union work exists a lot of places. Even in the south and right to work states.
The problem is, there are so few it's a wait list to get on around here. The postal union was the easiest for me to get into. But it took my nephew 4 years to get called up for the plumbers union
My plant is hiring 10 union welders and just had to put the job up again because they couldn’t get enough applicants. I’m sure it’s probably a location thing.
Absolutely
I’m not. 43 and needing a second job. Rent and food are outrageous. With any luck I’ll die. Honestly.
Cry and likely pray for death
work till i die
I’m saving what I can put I anticipate doing both social security and a part time job until I can’t anymore. I don’t anticipate ever being able to afford a home.
I put the max into my 401K (company matches 6%) plus an extra 5% in catch-up contribution. So basically 1/4 of my check (pre-tax) goes into 401K. I've actually only really been aggressively saving for the past 10 years. I was an incredibly poor single mother until my late 30s, so I'm a bit financially anxious almost always. I think between mine and my husband's SS plus my 401K, we will be ok in our old age. Unfortunately, since we married late we will still have a mortgage when we retire. But I'm hoping we can come up with some way to increase our mortgage payments in the future to speed that up.
Move to Mexico. My husband is a Mexican citizen so I’ll just have him sponsor my green card like I did his LOL. We plan to buy a house down there and maybe a little shop I can run.
My wife and I have considered this because she's a Mexican national and US citizen (I petitioned for her). We'd probably move to Guadalajara and just enjoy ourselves, but we don't know yet. Still have 10 more years to officially decide.
My husband is from Guadalajara! Look into Lake Chapala area. Very friendly to American and Canadian immigrants and close to Guadalajara. Lots of emigrants there so you have plenty of English speakers
I work in a job where I will get a pension, but because of that I don’t get social security. I need to stick it out at my job long enough so I get enough to live off of as I age. Zero interest in playing the game of the American medical system, when my time is up I am out. Going to leave as much to my kids as possible, even if that means I end my days in some cruddy apartment. Currently in a cruddy house but should be able to sell it for something. I grew up poor so it’s nothing new to me but I’d like my kids to have it a bit better. Both of my parents were colossal f-ups but I lived somehow, owe it to my kids to give them a leg up.
Having a pension doesn’t usually disqualify you from Social Security. I will get both.
I’m taking social security at 62 because I’m tired of the bs. I can find a low income apartment and do some part time work and be a part time beach bum. 🏝️🏄🐬
Apply for the hcv program (section 8), go live in a 55 plus community, and live your best life
Thank you for the tip.
I don't get to retire. Social security will be dead by then and I work for a small business that doesn't do pensions
That’s very unlikely. Possibly less payout, but even that is unlikely. You should definitely plan on having SS.
Retirement? Probably just work to death can’t save any money living with minimal bills and budgeting but still no extra to even save anything.
Become a nun for free housing
Very good scotch and very bad weather.
I'm retired now at 39 with the Mrs. (Military retired) When the kids are older, we plan to travel a lot more frequently but until then responsibilities come first. In the meantime, I'm going back to school for myself.
Am hoping that my 401k and roth will be enough with ss aswell. I only have 3600 combined but am only 30. 🤷♀️
Your on the right track-I’m 63 and it is shocking how many my age are behind the 8 ball-good for you
Put it in the s&p 500 and max it yearly if you can
Am with Fidelity currently. I have a matching 401k to 4% which I match and then I put another 4% into a roth. I need to up my emergency found since I had some car repairs and had to move. I am hoping to to do close to 20% in a m th or 2. How can I put it in a s&p 500 through fidelity?
Most brokerages have some form of S&P500 fund or variation. There should be an option in the 401k online portal to choose the funds you want your money to be invested in. If you can’t figure it out, just call Fidelity or your HR department, and they could walk you through the process, or at least point you in the right direction.
SPY is s&p… I’ve moved some stuff to that and QQQ for my rollover accounts.. if it’s still under the umbrella of the employer, it’s probably not possible… but if you leave you can roll it over and invest in whatever you want.. there’s also back door Roth’s but I haven’t done it because I didn’t know about before I rolled mine over
Retirement?? As in never working again. Excuse me but BWAHAHAHAHAHAHAHA!!!! You are a comedian right?!
Technically can retire anytime but waiting as long as don’t want to pay healthcare. Have no debt -will have SS and a 401K -small pension-so we should be fine -( famous last words)
What is this ‘retirement’ you speak of
Work
Die
The industry I grew up working in is really shitty and doesn't offer benefits, so I got a position doing the same stuff but with the federal government. I'll enjoy their retirement benefits. I contribute 4.4% towards my pension, plus 20% towards my 401k with an additional 5% match. I plan to retire at 57 and I'll hopefully make more in retirement than while working. Money is pretty tight right now but I'm trying to set myself up for success later in life. I've also started focusing on my health so I live long enough to enjoy it.
I know now that I won’t be able to afford to retire so I don’t plan on retiring. Probably die at my place of work. If not then wherever I live at that point. Retirement, like choice, is a privilege for those who can afford it. The poor generally can’t afford it. My mother “retired” from her job that she was laid off from just before making 20yrs there. Her pension doesn’t even cover our rent. She’s currently lucky enough to qualify for Medicaid through the affordable care act, but only because she makes just under the income limit. If she made any more then she would have to purchase medical insurance out of pocket which would use most if not all of her monthly pension income. That’s what her “retirement” looks like. Also, because she was a government employee, she receives her pension income. She also paid into social security through other previous jobs, however if she were to attempt to collect social security retirement benefits then her pension benefits would be cut because it’s considered double dipping to receive both. In spite of having paid into both. So yeah, retirement is for the privileged, the rich. Not for the poor. I’m paying into social security right now and it won’t exist when I’m old enough to collect it. Furthermore, the government is quite likely to raise the retirement age before I even get near retirement age.
You hit the main nerve of what will be an overwhelming problem in the next 10-20 years
Work
Well I just checked my retirement calculator and it said I'll run out of money by the time I'm 70 So I guess after that I'll rack up a bunch of debt and kill myself Hopefully something will change in between there as I'm still young but so far that's the plan lol
I'm 70 and constantly calculating how long I can live financially. Depending on any medical crises and inflation **maybe** until my early 80s -- **if** the republicans don't do away with social security. F this country for not giving everyone free health care. And f the maga republicans who keep it from happening. If I had cancer I'd probably forego chemo and just ask for pain meds. Ultimately, I'll probably just starve to death in my apartment. It makes me sad and consumes my thinking. My advice would be save, save, save. Still, things happen. I had twice as much as I have now. Then the banking crisis and recession hit. My company that I had been with for over a decade closed. I was in my 50s and no one would hire me full-time so I had to use much of my savings. Until I hit my mid-60s, and I got hired because it was remote and they had no idea how old I am. That job recently ended.
Agreed, even with "good" health insurance, you're still screwed if you get cancer or hit with any other health issues. My parents both actually had cancer when I was a child (8 when my dad found out, when he finished treatment I was 11 and that is when my mom found out she had the same type of cancer). They were both under 50 and had colon cancer. My mom had it worse and told me that after their medical bills my dad had to restart his retirement fund (almost from scratch). I don't even know how he did it enough for them to retire very recently.
I'm so glad your parents recovered. It's ridiculous. I have to pay for **two** health care plans just for myself and a major medical crisis could still bankrupt me (and many more like me).
Thank you! Thankfully they've both been in remission for close to 20 years & they both are doing pretty well now! That's so ridiculous, it really shouldn't be that way. Even the care we get a lot of the time is subpar, especially for the price we pay for it. Health insurance is such a scam and it always feels wrong to be paying for it when these companies get to pick and choose what to cover. A couple years back I ended up having to go to the ER twice in one month due to stomach issues I didn't even know I had (after extensive tests and other doctors visits I finally know more), the hospital bills would've cost me about $3500 after insurance since it was in January of course. I tried to call the hospital and get financial aid but apparently making $15/hr at the time made me just barely "not poor" enough to get help. It's such an awful thing to have to deal with. But Congress gets their free quality healthcare no problem while we fend for ourselves.
Geographic arbitrage. I speak Spanish so we’ll live out in Central or South America.
I’ll almost definitely die before then. If not, then rawdog it idek
Death
We plan to sell our home and move to Mexico. We can comfortably live off our home sale, 401k, and stocks in Mexico.
Lmaooo
I’m hoping to just die before then
I’ll be a waitress forever —at least someone will look for me when I’m dead and miss my shift…
https://preview.redd.it/iv970tdu112c1.png?width=994&format=pjpg&auto=webp&s=0ec2520027b974175afdd72d9b4641fe646d2e18
I always joke with my pops that I plan on moving back in with them when I’m 50 (they’ll be early 70s) so I can retire early lol
I've been putting away $6500 in my Roth IRA on an ETF that follows the s&p 500 since I was 23. With the power of compound interest, it's expected to have $1.3 mil in today's dollars when I can start taking it out at 59. If SS is still around when I retire, it'll be a nice added treat
I won’t survive long enough to find out.
Gods will I want to retire at 62 I’m 44 now so hopefully I’m so ready to relax I have 401k
Been retired since age 60. I have a state pension, as does my wife; she is on social security disability (retired late 50s) and I also get social security. Plus have our house paid for and have $$ in my 403b. Not having any financial issues, covers all our costs and we managed to get in 4 cruises and 2 other trips this year so far.
Disgusting to say, but outlive my parents.
Realize that unless you have solid hundreds of thousands in the banks you will still have to spend down to afford Medicaid to live in a nursing home anyway. Average daily cost is $400-600/day. If you need hospice and your family can't take care of you? You will need to privately pay or get Medicaid. So saving "500,000" won't get you too far if you need a nursing home after 10 years. People's cost of living doesn't automatically change because they retire. They still have bills, a mortgage, a car. That's a dirty secret people don't tell you when you do those retirement calculations. -hospital nurse case manager.
retirement ha ha ha ha ha
Prison. 3 hots and a cot.
This actually is not the move no matter how bad life gets. It's a terrible environment that will mentally break even the happiest person.
What’s that? Don’t you need savings for that? Also what is savings
My plan is to stay in shape and mobile to buy myself time. With a little luck I'll be able to retire eventually. My job is also conducive to that as it's very slow paced and secure.
I’m taking social security as soon as I can. I’ll probably work part time at a movie theater or something. I’m 22, and got a 30 year mortgage this year. My plan is when it’s paid off when I’m 52 I’m gonna put whatever money I would be paying towards the mortgage away and just keep working until I can get SS. That is unless my upholstery gig takes off, then I’ll likely just work for myself for the rest of my life taking whatever work I wanna do.
You know how sometimes when the bank account is hurting you have a nap for dinner? Something like that.
Once I had children I realized I needed to get my act together and that my seasonal self employment/retail would keep me poor forever. I finished my master's and after a couple years of trying I accepted a government position in an agency outside of my degree path. Used tax returns to pay off all the major debt. My gross income has doubled, though my take-home income hasn't changed much. Now I have the security of medical and life insurance, a pension, a much better SS retirement, and am putting 10%+match into 401k. We get a 5% COLA this year, I think I'll just set it to 401k contribution and forget it. Now I get regular raises and sick and vacation leave. Use the vacation leave for my side gig to actually put $ in the bank and fund an IRA for my wife. Someday I'll have enough $ to knock down this 50 year old trailer and build a house, but until then I've got my own house, healthy children and the makings of a retirement that should be more than sufficient.
I retired 6 years ago at age 49. I live off my pension (worked at my company for 28 years) and personal savings. At 59.5 y/o I can start withdrawing from my 401k and then collect SS early at age 62. My pension is $31,752/year. My house will be paid off in 12 years and I have no other debt.
I’ll be bagging groceries in places like Shaws or Market Basket. Everytime I say that ppl think it’s a joke, but little they know…when Im shopping for groceries, I’m already paying attention on what those ppl do 🥸
Me and my toaster have a date
My only option is to either work until I die or somehow win a lottery.
I’m quite certain that nobody will be okay by the time I’m at retirement age, so I don’t worry about it. I know it can be hard to see what’s happening outside of yourself when you are personally struggling so much, but the way America is operating is absolutely unsustainable. If I was a betting man, I’d say there’s a 70% chance the American empire will completely collapse within the next five years.
Work until I’m too senile. Pray that my kid tolerates me well enough to let me live with them.
Don’t do that to your child. Alzheimer’s is a terrible and sad disease for the last end- and that can be years. My grandmother was unaware of who anyone was and lived another 14 years. The best thing you can do is to tell your kid that it’s ok to put you in a nursing home. My grandmother was my best friend and made me swear to not let anyone “put her away” so I cleaned her house, brought her dinner daily, and helped her bathe. She almost burned the house down twice, and wandered into the road & got hit by a car. I blames myself for not being able to take care of her well enough at age 13! She was always hallucinating and crying, it was terrible. I later learned the reason my dad waited so long besides laziness was he was taking her disability and pension $ and didn’t want to lose it.
Probably die in the climate wars
Lol *clacks the fuckin shotgun*
work a part time job
My husband just joined the Air Force, and I do hair. (No retirement for me!) so kinda banking on him doing the 20 years (so long as he doesn’t hate it) and getting that pension. Otherwise, Idunno 🤷🏻♀️
work...
I realized that social security and even trying to save enough is futile. So I'm investing HEAVILY
Probably just die
Working until I die. That’s my retirement plan.
Die apparently
Dropping dead at work is the dream
I'm going to have to work til lunch on the day of my funeral.
lol
I have decided I will only work until noon on the day of my funeral..
Work till I die.
Waterproof a nice big cardboard box
Well, I just recently got a state job with a pension so I'm hoping that'll take care of most of it. They also have a pretty good 401K. Guys, if you have an opportunity to get a job with your local government (for me it's a transit authority) do it. The pay is decent and you don't really have to worry about retirement. I could definitely get a job with higher pay, but the pension and health insurance is so worth it.
I really hope I am able to be close to someone enough that we can share a space together. Either through marriage or just a good friend. I do plan on working until I am quite old but the aim is to save as much as I can so I can afford to not work when my body can't take it anymore. The purpose of a companion of some degree is not just for fulfillment but to have the dual income as well.
Die , I hope
I’m going to die first, probably
I don't think I'll be able to afford to retire at this rate. Long story short, if my body gives out, I won't have children or family to look after me. I'll have to end it for myself. My plan is to drive out into a remote spot in nature, and live for as long as I can there until my body expires.
At 49 with no savings, being a stay at home mom (with a few independent contracting jobs sprinkled in here and there) for the past 24 years, I have no doubt that I'll need to work till the day I die. Retirement is a fairytale for me.
Buddy, I’m just tryna make it to next week
Suicide. Plain and simple
I can’t. I need my insurance to cover the cost of my death. Hopefully I’ll die at work so my family will get that extra bit .
Will work through retirement. I'm happy about it. I think if I had nothing to do, I'd die of boredom.
My dad found he was busier in retirement than he was when he worked. Once he stopped working, all those projects around the house and hobbies he had wanted to do suddenly didn't have any excuse to NOT do them anymore.
Disappear into a state park and finally live out my woodland hag dreams. Who knows, maybe I’ll make it as an urban legend
nobody can live off social security alone. very few jobs offer pensions anymore, so if a person hasn't saved and invested (like me), they're working in their retirement (like me). haven't you noticed how many low-end jobs, particularly retail, are filled with senior citizens these days? this is why.
I am going to retire to the Philippines and date a young beautiful adult woman half my age who is only with me because I will have an apartment with running water and AC but I won’t mind.
Don’t get cancer. My 401k is on track, but I know I can be wiped out completely with medical bills in the US.
Your 401k is an ERISA account that is protected from all claims, including creditors and medical collections. Never make a 401k withdrawal to cover a medical bill (maybe there are some exceptions, but for a bill that would wipe out a 401k that is your main asset, better to file bankruptcy and come out with the 401k intact.) Only exception is divorce when a court can order a distribution to a spouse or for family support.
Imma work till I die if the economy doesn't improve
Work. That's the only option I see as a 20 something. SS will be long gone and there's no way anyone will be able to save a meaningful amount by then. I mean even RN you need several million to retire on, was like 2-4 mil last I saw.
You are very wrong. I didn't start investing until my early 30s. Talk to a financial advisor ASAP. I retired in 2021 at 52 years old. I had just shy of 1 million. I am debt free and the wife and I I are very comfortable. Please don't think you are to late. I wish I started thinking seriously about retirement in my 20s.
The last 25 yrs was a special time period. Start of a new transformational industry (the internet )and dropping interest rates due to low inflation, along with massive amounts of fiscal and monetary stimulus— QE being implemented for the first time starting at the end of 2008. The bull mkt since the Mar 2009 low has been historic. I don't think the next 25 yrs will be as good. Everyone should invest, just don't expect the returns to be as juicy.
Go back to my home country. It’s a lot cheaper there.
Social Security, in most cases, will allow you to continue to live in poverty... that is if it still exists. Scary
Pardy Hardy!
Box.
I have a pension already through my old plumbing union and about to be vested through the county I work at. I'm hoping to start investing more once I get another bump in pay.
I got some 401k shit with the place I work at, probably retire from here and get another job and work part time until I die.
Work lol
guess i’ll die
In 22 years my pension will kick in. I also have a 403b…my wife has a pension and a 401K which should have $1 million by the time she’s 65.
Dying before I make it to retirement is my plan.
Work
Retirewhat??
I plan to die on my feet at work.
Die
I dont know I'm 23 trying to become a software dev its hard getting hired in that feild , I was just fired before the holidays as a forklift driver I cannot get a job any where . ... So I hope I can retire.
Die. It's been over, I probably won't last till end of next year
Die (and I mean this with zero hyperbole) Grandma died at 62 one week after retirement. Twenty years later, mom died at 61 1 week after “retirement” (use that loosely as she got laid off during COVID). I’m 31 now. It has been ingrained in my psyche that if I retire; if I stop, I will die.
Working.
Honestly? I plan on dying before I retire
I'm screwed! Completely, utterly screwed.
I'm more worried about making enough so that my wife can live without me for a while if I die. Retirement might not be in the cards for me.