Re: Early retirement
[Re: coonman220]
#7304937
07/13/21 07:02 AM
07/13/21 07:02 AM
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Joined: Nov 2011
Posts: 2,857 Mn
Whopper Stopper
trapper
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trapper
Joined: Nov 2011
Posts: 2,857
Mn
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Sound tempting the early retirement even if not ready , 1 year from end this week, lot could change but plan on partial week an then just pt hrs, can't wait but can wait to be older, so if had to, could u get auto loan an ss is consider as income ? That will happen in the blink of an eye. WS
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Re: Early retirement
[Re: BuckMink]
#7305100
07/13/21 11:40 AM
07/13/21 11:40 AM
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Joined: Feb 2010
Posts: 19,719 pa
hippie
trapper
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trapper
Joined: Feb 2010
Posts: 19,719
pa
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will your retired income support the monthly payments in addition to monthly living expenses? if your truck costs you 550 a month, got enough money for the rest of the month? i hear electric smart cars are great trapping vehicles...fit into tight places in the woods and they are quiet. portable blind. That's the first thing the wife and I did before she retired early, figure our YEARLY expenses just to maintain how we live now. Not listing all here but just the major ones were.... Electric .....1,200 Heating .....600 gal.@ 2.50...1,500 Property taxes....3,500 Car a d homeowners ins.......1,100 Phones, tv, and internet......1,400 All subject to raises. The basics come to 8,700 dollars a year...basics not including food and what not like any repairs, car licenses ECT. It'd be a good idea for Coonman to make his list for yearly expenses and see if his SSI covers them.
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Re: Early retirement
[Re: coonman220]
#7305295
07/13/21 06:36 PM
07/13/21 06:36 PM
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Joined: May 2010
Posts: 10,485 MN
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 10,485
MN
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Hipie, Coonman still has a house payment, will need a new vehicle he can't pay out of pocket for and doesn't have any money in the bank, and no mention of 401k type plans or pension. Doesn't have health insurance and won't be able to afford supplemental when he goes on Medicare.
The only positive of his situation is he won't be alone. There are millions of Americans that don't realize what's coming when they "retire".
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Early retirement
[Re: Steven 49er]
#7305395
07/13/21 09:06 PM
07/13/21 09:06 PM
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Joined: Dec 2006
Posts: 1,932 iowa
bankrunner
trapper
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trapper
Joined: Dec 2006
Posts: 1,932
iowa
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Hipie, Coonman still has a house payment, will need a new vehicle he can't pay out of pocket for and doesn't have any money in the bank, and no mention of 401k type plans or pension. Doesn't have health insurance and won't be able to afford supplemental when he goes on Medicare.
The only positive of his situation is he won't be alone. There are millions of Americans that don't realize what's coming when they "retire".
You neglected his always optimistic high dollar coon to save the day for supplemental income.
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Re: Early retirement
[Re: coonman220]
#7305529
07/13/21 11:45 PM
07/13/21 11:45 PM
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Joined: Dec 2015
Posts: 6,341 se South Dakota
NonPCfed
trapper
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trapper
Joined: Dec 2015
Posts: 6,341
se South Dakota
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Lots and lots of senior public housing a coming. If Sleepy Joe and his party don't get us into a civil war first...
"And God said, Let us make man in our image �and let them have dominion �and all the creatures that move along the ground". Genesis 1:26
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Re: Early retirement
[Re: Steven 49er]
#7305575
07/14/21 06:48 AM
07/14/21 06:48 AM
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Joined: Jan 2007
Posts: 6,490 central Haudenosaunee, the De...
white marlin
trapper
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trapper
Joined: Jan 2007
Posts: 6,490
central Haudenosaunee, the De...
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Hipie, Coonman still has a house payment, will need a new vehicle he can't pay out of pocket for and doesn't have any money in the bank, and no mention of 401k type plans or pension. Doesn't have health insurance and won't be able to afford supplemental when he goes on Medicare.
The only positive of his situation is he won't be alone. There are millions of Americans that don't realize what's coming when they "retire". they'll be just fine. there's already a "movement" afoot in DC to redistribute your retirement account to others who have none. it's only "fair". they'll call it a "living retirement" and it'll be paid for by the only large pot of money still available: the savings that responsible people put away for their own use. [those folks will get a "fair" stipend to live on, though; so it's all good]
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Re: Early retirement
[Re: coonman220]
#7305584
07/14/21 06:56 AM
07/14/21 06:56 AM
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Mark June
Unregistered
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Mark June
Unregistered
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The choices people make will construct the behaviors and outcome of their life's situations.
- Alfred Adler (1870-1937)
'Ol Al seems to have been close to the green with this major psychology theory chip shot IMO.
Blessings, Mark
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Re: Early retirement
[Re: wissmiss]
#7305706
07/14/21 10:02 AM
07/14/21 10:02 AM
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Joined: Aug 2008
Posts: 16,275 ny
upstateNY
trapper
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trapper
Joined: Aug 2008
Posts: 16,275
ny
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If you start taking SS at 62, which is before your full retirement age, be very sure you understand how much money you can make from working before your SS benefits are affected. $21,000 here in NY.Not sure if that is Nation wide or not.
the wheels of the gods turn very slowly
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Re: Early retirement
[Re: coonman220]
#7305750
07/14/21 11:09 AM
07/14/21 11:09 AM
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Joined: Aug 2011
Posts: 45,519 james bay frontierOnt.
Boco
trapper
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trapper
Joined: Aug 2011
Posts: 45,519
james bay frontierOnt.
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Should have worked a good union job coonman.You'd be rollin in the dough retiring at 55.
Forget that fear of gravity-get a little savagery in your life.
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Re: Early retirement
[Re: ILcooner]
#7305864
07/14/21 01:45 PM
07/14/21 01:45 PM
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Joined: Oct 2015
Posts: 3,077 Wyoming
cmcf
trapper
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trapper
Joined: Oct 2015
Posts: 3,077
Wyoming
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anybody under say 32 ought to read these posts and think long and hard about their future over the next 30yrs and what you want fo retirement.
Imagine being early 60s and having ~ $2M in 401k and IRAs after years/decades of maxing both out, being able to live off the 4.5% interest it makes annually giving you a $90k salary...without ever touching the principal. A couple year old (paid for in cash of course) truck and a paid for home. If you get tired of working, and want to draw your SS early (assuming it is still around), you say "see ya".. you have the cash to do so.
The hard work and discipline gives you the freedom later to decide.
This is the future I am saving for... The best response of all. The time to think about retirement is when your 25 not 62.
“The world is governed by very different personages from what is imagined” B. Disraeli
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Re: Early retirement
[Re: coonman220]
#7305879
07/14/21 02:03 PM
07/14/21 02:03 PM
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Joined: Feb 2007
Posts: 1,689 S Illinois, former cheesehead
Kelly
trapper
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trapper
Joined: Feb 2007
Posts: 1,689
S Illinois, former cheesehead
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Anyone know if ever apply small personal loan if need be, an work some pt an on soacil security, do they consider ss as income on loan app? Yes all income is considered including retirement income and it's all taxed.
Enjoy Mother Nature's Glory, everyday!
Once one opens the mind to the plausible, the unbelievable becomes possible!
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