I retired around 10 years ago,at age 56,but I still do a lot of things on my own that churn out money.But I dont do it because I need or even want the money,it is stuff I just like to do and the money is like gravy.3 pensions,no debt,too many toys vehicles etc,and more money than I will ever use or need,so I give it away.

I plan on retiring early, though not on social security. I have two 401ks, the larger one is on track to have $500,000 in it by the time I turn 50, the smaller one only about $100,000, and that’s if I never add anything to them, which I obviously am going to keep contributing. I figure on retiring at around 60 with about 2 million in those accounts, which at a ten percent average rate of return will give me a $200k annual income and the government can keep its poorly run social security program. I’ll live on the 200k and leave the 2 mil to my kids and they won’t have to depend on government retirement either. I also plan on having a paid for home by then, so I won’t have any expenses except healthcare and utilities.

What constitutes a reasonable amount of interest?

Actor, I’m sorry about your misfortune but you brought both those things on yourself, by not using a reputable, big name broker and by making a bad deal to sell your business on a payment plan.

JD hornet, unless you pulled your money out you didn’t lose a cent. The market has since quadrupled from what it was before the 2008 crash.

I retired around 10 years ago,at age 56,but I still do a lot of things on my own that churn out money.But I dont do it because I need or even want the money,it is stuff I just like to do and the money is like gravy.3 pensions,no debt,too many toys vehicles etc,and more money than I will ever use or need,so I give it away.

I retired around 10 years ago,at age 56,but I still do a lot of things on my own that churn out money.But I dont do it because I need or even want the money,it is stuff I just like to do and the money is like gravy.3 pensions,no debt,too many toys vehicles etc,and more money than I will ever use or need,so I give it away.

Iam leaving this earth..the same way ,I came in. Red Faced and broke.

You are not financially ready to retire. I can tell that just by your posts on here. If you want to retire you’re going to have to live on nothing and start saving aggressively In an IRA or 401k for the next five to ten years. And I mean aggressively, the legal maximum the government will allow, which I believe This year is 18,000 a year in a 401k and 7,000 a year in an IRA. I think you can even do a little extra at your age as catch up.

Young people on here, take note. 60 might seem way far away, but you gotta start saving now if you’re ever going to retire. This would be a much different conversation if coonman had saved 15 percent of his income in a 401k for the last 30 years. He would be a millionaire. He wouldn’t have to worry about his truck breaking down, cause he could just go pay cash for a brand new one. He could never work another day in his life if he felt like it.

Coonman, I’m not trying to be down on you. I just want the young folks here to understand that THEY control their future and retirement, not the government or social security.