tag:blogger.com,1999:blog-1611711622146875201.post2861175764830093535..comments2024-03-27T19:07:06.944-04:00Comments on DON'T READ THIS; IT'S BORING!: The Retirement Meetingslugmamahttp://www.blogger.com/profile/12728856166374248591noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-1611711622146875201.post-32846346265515676072015-10-03T19:27:59.048-04:002015-10-03T19:27:59.048-04:00I have been planning for retirement for YEARS! LOL...I have been planning for retirement for YEARS! LOL! I have been socking away money in my 401K, have a pretty decent IRA and some additional savings. Hubby has a small 403B fund from when he was a sub teacher. We have just left it there to grow a little more before he has to start taking it out. We live on less than 7 grand a month now, we can sure do it in retirement!Franceshttps://www.blogger.com/profile/01817017829323955078noreply@blogger.comtag:blogger.com,1999:blog-1611711622146875201.post-25510004333977599022015-10-02T15:55:25.996-04:002015-10-02T15:55:25.996-04:00It sounds like you are set for the financial aspec...It sounds like you are set for the financial aspect of retirement. <br /><br />I have a ways to go, but I worry about retirement all the time. We are maxing out DH's 401K, maxing out IRA's and trying to pay everything off ... but I often wonder if that will be enough - particularly when healthcare gets tossed into the mix. Ms. Morelesshttps://www.blogger.com/profile/05254210551387134202noreply@blogger.comtag:blogger.com,1999:blog-1611711622146875201.post-46182294134234503042015-10-01T04:58:58.779-04:002015-10-01T04:58:58.779-04:00My inlaws didn't want their sons to waste mone...My inlaws didn't want their sons to waste money paying funeral expenses so they donated their bodies to science. Their ashes were returned a few months afterwards. Didn't cost a thing. Now that's frugal! Sluggy, it sounds like you and hubs are well set for the future. You did good!Lorrainehttps://www.blogger.com/profile/15328674280714013955noreply@blogger.comtag:blogger.com,1999:blog-1611711622146875201.post-89465780667650270892015-09-30T19:01:12.383-04:002015-09-30T19:01:12.383-04:00Anne, thanks for the info. Cremation is on my agen...Anne, thanks for the info. Cremation is on my agenda. I'd love to save my family three hundred bucks at the end. Frugal forever. And ever!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1611711622146875201.post-38810673635596522392015-09-30T14:15:42.095-04:002015-09-30T14:15:42.095-04:00I was just laughing at your pre-paid funeral parag...I was just laughing at your pre-paid funeral paragraph. My parents had bought burial plots years ago, but decided fairly recently they wanted to be cremated so they bought a spot at the columbarium at our church. Before Dad died he made sure we all knew to not call the funeral home, but to call the cremation services direct. It seems there is a 300 dollar add on for the funeral home to make the arrangements. Nothing like being thrifty literally until the day you die!Anne in the kitchenhttps://www.blogger.com/profile/01533249631969001657noreply@blogger.comtag:blogger.com,1999:blog-1611711622146875201.post-85454939472487606132015-09-30T12:22:49.708-04:002015-09-30T12:22:49.708-04:00Like said, Hubs get a special rate with an annuit...Like said, Hubs get a special rate with an annuity b/c he works for that company we'd buy it from. I don't think annuities are such a great deal for most(especially if you have to lock in ALL your nest egg). And we'd choose an option that would either give me a 50% or 75% value if Hubs kicks off first. And we'd only use a piece of our savings to buy it so for us it's a wise option.<br />We do have back-up plans because things will go awry. But this is our Best Case Scenario.<br /><br />I'd also suggest to anyone retired to go pre-pay/pre-plan your funeral arrangements. This is a good thing to do especially if you plan on living very long(and in that case the odds of needing nursing care go up exponentially). Get that all paid for before you have to spend down your savings to get Medicaid to pay for your care. So glad we did that in regards to Hubs mom before she passed. Everything was paid for and we didn't have to scramble once she died to make decisions.slugmamahttps://www.blogger.com/profile/12728856166374248591noreply@blogger.comtag:blogger.com,1999:blog-1611711622146875201.post-27538227715033945212015-09-30T11:21:34.651-04:002015-09-30T11:21:34.651-04:00You lost me at 'hello'. Too complicated fo...You lost me at 'hello'. Too complicated for me. My life is so much more simpler and easier for me to understand.<br />Suze Orman cautioned exclusively about annuities. She hated them. If one of you die, depending on how you set up the annuity, the money could all go away. I know many more annuity packages are coming out now, but I'm staying away from them. In order to get a decent return you have to lock so much money away. And then if you have an emergency and need money, it's not there for you.<br />I like our laddered ROTH IRA's instead. Unlike you, we never had the opportunity to invest in employee 401K's. But DH does get a pension from his years in corporate land many, many moons ago.<br />I'm just a straight shooting gal. I took my SS directly. No games there. Ditto for DH. We're just collecting at our desired ages. No hold and suspend, spouse collecting or any other SS games people are playing now only to find out later on the govt is on to the games and discontinues them by changing the laws. Leaving many retirees hanging.<br />My retirement plan was always to be out of debt and own my house outright in a home we planned to die in. RVing was also in our plan as we want to see America in retirement. We did all our overseas vacations while employed. It always bothered me to see very old people in walkers dragging themselves through the streets of Florence or Paris. But hey! That was just me. <br />My retirement planning also included investing in real estate vs Wall Street. That stupid decision caused me to lose almost $100K after 10 years of ownership. It's a loss now, in my 60's that could never be made up. In order to compensate for this loss, DH will be working 7 more years while we sock away as much cash as possible. Unlike you, we live on $40K a year. That's $3300 approx a month. I'd be in heaven at $7K like you guys. I wouldn't know what to do with myself.<br />My only advice I can give to anyone contemplating their retirement is: even the best laid plans go awry. Always have a Plan B, C D and F (for fu**ked). <br />Another thing I just recently learned, is to prepare for retirement from your death first and work backward. Figure out how long you are going to live (I hope for me it's 90) and then make sure you have enough money to last till then. We have to start thinking about death, which is what you guys have already discussed. If my DH died I could never live where I am at now. I'd sell and either move to Florida to be with my bro and sis. Or move in with one of my daughters and thankfully be able to pay my own way.<br />Lots to think about.<br />Good luck to everyone!Anonymousnoreply@blogger.com