Just curious - whats everyones plans for retirement? other than 401K

ezbtr

ezbtr

Commander
Joined
May 1, 2002
Messages
2,965
i'd like to start investing like I used to, whats a good safe, steady investment, Im 45 but want more than 401K and SS.
 
tashasdaddy

tashasdaddy

Honorary Moderator Emeritus
Joined
Nov 11, 2005
Messages
51,019
Re: Just curious - whats everyones plans for retirement? other than 401K

i retired younger than you are now. you will never save enough.
 
K

Knightgang

Lieutenant
Joined
Oct 6, 2003
Messages
1,428
Re: Just curious - whats everyones plans for retirement? other than 401K

Lottery!!!!!!!!! Without that, there will never be enough these days... In this economy, just keeping a job and keeping your head above water is difficult enough...
 
triumphrick

triumphrick

Lieutenant Commander
Joined
Jun 26, 2008
Messages
1,737
Re: Just curious - whats everyones plans for retirement? other than 401K

The best thing I have ever done in my retirement was to sell all my mutual funds and buy Ford stock. At $2.45. I had already dumped the mutuals and had it in a money market acct. I just took a gamble, bought on emotion, when I read they were solvent, and would not take any gov't money. I just recovered any and all my losses from when the market tanked two years ago...and then some...:)
 
rogerwa

rogerwa

Commander
Joined
Nov 29, 2000
Messages
2,339
Re: Just curious - whats everyones plans for retirement? other than 401K

Walmart greeter. After the losses in the market and then putting my kids through private high school and college, I will be broke.
 
kenmyfam

kenmyfam

Supreme Mariner
Joined
Aug 10, 2006
Messages
14,385
Re: Just curious - whats everyones plans for retirement? other than 401K

Mrs Ken and I are looking into buying a small year round campground resort on an inland lake. Seasonal sites, boat rental etc and have an outboard repair business on site.
Time will tell.
 
paulspaddle

paulspaddle

Senior Chief Petty Officer
Joined
Mar 2, 2009
Messages
753
Re: Just curious - whats everyones plans for retirement? other than 401K

Freedom 95 Plan.
 
F

fishrdan

Admiral
Joined
Jan 25, 2008
Messages
6,989
Re: Just curious - whats everyones plans for retirement? other than 401K

ezbtr said:
whats a good safe, steady investment
Click to expand...

Gambling :D

I pulled a healthy chunk out of my 401K before it tanked, watched it like a hawk for it to bottom out, then moved it back into aggressive funds. I'm much better off than I was 2 years ago,,, well 401K wise anyways...

I have to tell you though, I was sweating bullets doing it and my wife thought I was crazy. Hey, what can I say, I live in Vegas :rolleyes:
 
bruceb58

bruceb58

Supreme Mariner
Joined
Mar 5, 2006
Messages
30,476
Re: Just curious - whats everyones plans for retirement? other than 401K

I've maxxed out my 401K ever since I started working at 24(now 51). I also have done numerous additional IRAs even though they weren't tax deductible. I was telling all my younger friends to max out their 401K at the beginning of this year but few listened to me. My 401k went up over 40% for the year. What happened this year may never happen again and many missed out on it.

Most people wait way to long to start saving for retirement. You need to start in your 20's.
 
R

rbh

Fleet Admiral
Joined
Mar 21, 2009
Messages
7,939
Re: Just curious - whats everyones plans for retirement? other than 401K

loto ticket, anyone else:D
 
eastont

eastont

Chief Petty Officer
Joined
Dec 16, 2008
Messages
511
Re: Just curious - whats everyones plans for retirement? other than 401K

Marry a woman with a really good pension plan.
 
Howard Sterndrive

Howard Sterndrive

Rear Admiral
Joined
Nov 5, 2008
Messages
4,603
Re: Just curious - whats everyones plans for retirement? other than 401K

I'm hoping to discover a "Go Broke Slow scheme"
 
E

ENSIGN

Lieutenant Junior Grade
Joined
Jun 21, 2009
Messages
1,179
Re: Just curious - whats everyones plans for retirement? other than 401K

I've been planning for years for a 20 year old rich girlfriend.STILL WAITING!
 
Huron Angler

Huron Angler

Admiral
Joined
Apr 7, 2009
Messages
6,025
Re: Just curious - whats everyones plans for retirement? other than 401K

Something besides social security payments...that is one ponzi scheme that is destined to fail and I won't be getting anything back in 30 years:eek:

Commodities are a safe play since they hedge against inflation(that check is in the mail) or anything denominated in something other than dollars.

I think investing in means of production(anything that generates electricity like solar/wind/geothermal) is a good way to go once the economy of scale kicks in and the prices come down some.

Glad to hear folks have recovered some with the stock market being up this year(like it had anywhere else to go:)).

My 401k looks better too since I stayed out of stock funds and was all in bonds until last April when it started to rebound.
 
JustJason

JustJason

Vice Admiral
Joined
Aug 27, 2007
Messages
5,319
Re: Just curious - whats everyones plans for retirement? other than 401K

the only way your going to be able to do it is to play by your own rules. And I wont knock it because you have to do what's right for you.
You need to start some kind of business, work for yourself, and pay little to no taxes. 70 an hr goes a lot further when the fed, state, fica and SS keeps their hands out of it.
 
slasmith1

slasmith1

Lieutenant Junior Grade
Joined
Dec 2, 2008
Messages
1,028
Re: Just curious - whats everyones plans for retirement? other than 401K

Army retirement.
VA disability compensation.
SS disability.
I retired at 24 on the taxpayers dime. I would much rather be able to walk without a limp then take your tax money though.
 
T

thefairlaneman

Banned
Joined
Sep 5, 2007
Messages
1,790
Re: Just curious - whats everyones plans for retirement? other than 401K

Wife and I both will be retired state workers with full health coverage. We will get this and SS and a small IRA account. Keeping or debts down at this point is very inportant to our future spending. We may sell our home and protect the cash and then rent a small condo later.
 
S

slia67

Petty Officer 1st Class
Joined
Jul 11, 2007
Messages
272
Re: Just curious - whats everyones plans for retirement? other than 401K

...Roth IRAs and rental properties that will provide passive income.

You need to sit down with a financial planner and find out where you are now, and where you want to go. Then you and your wife need to determine if those goals can be reached or if compromises need to be made.

Good Luck, if you need more info shoot me a PM. (I don't want to bore everyone)
 
j_martin

j_martin

Admiral
Joined
Sep 22, 2006
Messages
7,474
Re: Just curious - whats everyones plans for retirement? other than 401K

We're gonna sell the farm and put it in rolling stock. Thinking Dodge diesel, fifth wheel camper, and pull the bass bote behind. Another plan would be a motor home and a trailer with the bass bote and a golf cart (or equiv) on it for touring.

We'll visit one of our many children. When they get fed up with us enough to buy fuel to get to the next one, we'll be on our way.:D
 
skargo

skargo

Banned
Joined
Sep 14, 2008
Messages
4,640
Re: Just curious - whats everyones plans for retirement? other than 401K

I can't believe no one has mentioned real estate, that is my wife and my retirement. For now, they provide a nice monthly income, but when we retire we will sell all of our rentals.
 
You must log in or register to reply here.
Top