How much do you need for retirement

A nice thing about CPAs is you can pay them hourly for advice particular to your situation, without them hooking into your assets. With financial planners its "That advise will cost you $5000 per year if you have $1M invested, but if you have $2M you'll pay me $10,000 for the exact same amount of time and effort".


My mother's best words of wisdom are "the greatest gift you can give your children is to not become a burden to them".
Always pay a fee, never a percentage.
 
A bit off topic, but go for the anterior approach if your surgeon recommends it and, if (s)he doesn't, ask if they are qualified and experienced with that approach when appropriate. You should avoid an MD making that particular decision on the basis of "I don't know how to do it so I don't recommend it". I had the anterior approach and it worked great.
If you are a male and you need your hips replaced, do not get a THR. HSR, Hip Surface Replacement, is a far, far better alternative. I haf both mine done by Thomas Gross in Columbia SC. Research HSR. If you need your hips replaced I just gave you the best advice you will ever receive in your life.
 
If you are a male and you need your hips replaced, do not get a THR. HSR, Hip Surface Replacement, is a far, far better alternative. I haf both mine done by Thomas Gross in Columbia SC. Research HSR. If you need your hips replaced I just gave you the best advice you will ever receive in your life.
How does that differ for a THR with a ceramic ball instead of metal (what I got done). I have the Ti shaft in the femur, but the bearing surface is ceramic on plastic.
 
If you are a male and you need your hips replaced, do not get a THR. HSR, Hip Surface Replacement, is a far, far better alternative. I haf both mine done by Thomas Gross in Columbia SC. Research HSR. If you need your hips replaced I just gave you the best advice you will ever receive in your life.
perfect timing. I'm headed to lower back surgery in Jan for spinal stenosis, then left hip replacement after recovery.
 
Not sure how big the ceramic ball is, whether it is original size or not, but keeping the neck of the femur ensures proper length, angle, etc. More anatomically correct.
 
Not sure how big the ceramic ball is, whether it is original size or not, but keeping the neck of the femur ensures proper length, angle, etc. More anatomically correct.
Don't know those details, just that the joint disintegrated from a bad reaction to prednisone (AVN). Generally medical rule - you do not want any disease with the word "necrosis" in it. The surgeon asked my wife if I really walked into the hospital after he was done the work.
 
I have heard good things about ceramic and that p
Don't know those details, just that the joint disintegrated from a bad reaction to prednisone (AVN). Generally medical rule - you do not want any disease with the word "necrosis" in it. The surgeon asked my wife if I really walked into the hospital after he was done the work.
Ahhh!!! It sounds like you couldn't have gotten HSR as the head of the femur was necrotic. I have heard that if you can't get HSR then a ceramic THR is the way to go, and that ceramic has come a long way.
 
I thought of a great idea if I win Mega Millions...

I'm always afraid of getting killed by my beneficiaries. They are fine now but money changes people.

What if a millionaire made a will to donate it all to charity.

Can that prevent assassination?
 
I thought of a great idea if I win Mega Millions...

I'm always afraid of getting killed by my beneficiaries. They are fine now but money changes people.

What if a millionaire made a will to donate it all to charity.

Can that prevent assassination?

Just put it into a trust and give yourself a nice salary.
 
I thought of a great idea if I win Mega Millions...

I'm always afraid of getting killed by my beneficiaries. They are fine now but money changes people.

What if a millionaire made a will to donate it all to charity.

Can that prevent assassination?

Sometimes, though, people just want to kill you anyways (not me, though, as in wanting to kill you).

.
 
the post from @watchman about calling it quits got me thinking about a retirement question for the NES brain trust.

How much do you think is needed for retirement. Assuming debt free, own your home, and contemplating somewhat minimal retirement plans in reasonably decent health.
I don't have a financial advisor yet, but looking into online retirement plans from Fidelity that seem to imply anything less than $1m in funds/assets are needed for a comfortable retirement.
I'm nowhere close to that, but do have a 403b and employer cash balance fund of about half that amount.
I plan to stay in MA unfortunately, for the foreseeable future, but winning the lottery would change those plans.
As someone who 'retired' last year. This year has been just brutal for a 'newbie' retired person. Thankfully, I'm young enough to still do stuff and make extra money.

I know it's hard, but you'll need well over a million to retire and have somewhere near $4k a month, assuming you are still actively investing the money. I always put away the max and without my annuity, I wouldn't have been able to retire comfortably.

I'm turning off my TSP installments for the time being, working a little more to cover the installment.
 
As someone who 'retired' last year. This year has been just brutal for a 'newbie' retired person. Thankfully, I'm young enough to still do stuff and make extra money.

I know it's hard, but you'll need well over a million to retire and have somewhere near $4k a month, assuming you are still actively investing the money. I always put away the max and without my annuity, I wouldn't have been able to retire comfortably.

I'm turning off my TSP installments for the time being, working a little more to cover the installment.
I'm about 6 years from full retirement age of 67, but planning on 65.
Too many friends of mine have passed away just prior or a few years into retirement that makes me re-think my plans.
I will be close to $800k in retirement funds and with SS should do fine, hopefully.
I don't mind doing some light part time work while retired doing something I might enjoy, just to keep a little busy.
My retirement plans are very simple - ride around North America traveling this great country of ours.
 
I'm about 6 years from full retirement age of 67, but planning on 65.
Too many friends of mine have passed away just prior or a few years into retirement that makes me re-think my plans.
I will be close to $800k in retirement funds and with SS should do fine, hopefully.
I don't mind doing some light part time work while retired doing something I might enjoy, just to keep a little busy.
My retirement plans are very simple - ride around North America traveling this great country of ours.
If your home is paid off, that would help a lot. I'm a retard who bounced all over the country most of my career and lost money on every house I've ever owned.
 
If your home is paid off, that would help a lot. I'm a retard who bounced all over the country most of my career and lost money on every house I've ever owned.

Is your house paid off now? Just wondering if that is making it a bit more difficult. Not being nosy just to be nosy, just trying to gauge what real world experiences are for retirement for the regular people as I get closer.
 
Is your house paid off now? Just wondering if that is making it a bit more difficult. Not being nosy just to be nosy, just trying to gauge what real world experiences are for retirement for the regular people as I get closer.
ROFL, no. I just moved....again, and bought a house. I do believe I said I was a retard? Go back, I said it.

The big thing this time is I plan on staying here for the foreseeable future. Until kids are out of college at least. I did get a 'decent' interest rate, but man I bought at the top of the bubble. I really didn't have a choice this time though. Rent in New Orleans doubled after Ida, I'd be paying 3k a month for a 3br 1 ba house like my SIL is doing while her 'main' house is being remodeled. I was screwed either way, so I moved to the mountains.
 
ROFL, no. I just moved....again, and bought a house. I do believe I said I was a retard? Go back, I said it.

The big thing this time is I plan on staying here for the foreseeable future. Until kids are out of college at least. I did get a 'decent' interest rate, but man I bought at the top of the bubble. I really didn't have a choice this time though. Rent in New Orleans doubled after Ida, I'd be paying 3k a month for a 3br 1 ba house like my SIL is doing while her 'main' house is being remodeled. I was screwed either way, so I moved to the mountains.

Thank you for the information. I just turned 55, my wife and I (no kids, it just did not work out for us) have lived in our house for 27 years , it is paid off fortunately. However, our plan is to build a new house next year and sell ours afterwards, hopefully the proceeds will cover the cost of the new house, we already own the land (58 acres) outright and will have the well, septic, and driveway in/paid for by spring. I would like to retire by 58, I have a pension that, at 58, will give me around what you have a month. I could work longer and the pension would go up (about $5k more per year for each additional year I work as I am in the "higher gains" years, being over 55 and having 20+ years of service) but I really do not want to, there are a lot of things I would like to do that working gets in the way of. I also have a part-time business that could supplement things but I also do not want to do that through my 60s and beyond.
 
Thank you for the information. I just turned 55, my wife and I (no kids, it just did not work out for us) have lived in our house for 27 years , it is paid off fortunately. However, our plan is to build a new house next year and sell ours afterwards, hopefully the proceeds will cover the cost of the new house, we already own the land (58 acres) outright and will have the well, septic, and driveway in/paid for by spring. I would like to retire by 58, I have a pension that, at 58, will give me around what you have a month. I could work longer and the pension would go up (about $5k more per year for each additional year I work as I am in the "higher gains" years, being over 55 and having 20+ years of service) but I really do not want to, there are a lot of things I would like to do that working gets in the way of. I also have a part-time business that could supplement things but I also do not want to do that through my 60s and beyond.
Sounds like a good plan. I can tell you, working because you want to is different.
 
Sounds like a good plan. I can tell you, working because you want to is different.
+1. I unretired because I wanted back in the game, not because I was economically forced to.

Not having to even worry about layoff rumors, or pre-announcements of upcoming layoffs, is a big stress reducer - as is the fact that during the last few years of your career you eventually get t the point where it's no longer about chasing promotions.
 
+1. I unretired because I wanted back in the game, not because I was economically forced to.

Not having to even worry about layoff rumors, or pre-announcements of upcoming layoffs, is a big stress reducer - as is the fact that during the last few years of your career you eventually get t the point where it's no longer about chasing promotions.
Im there dude.......back 9......headed to the 19th hole. Could give a F about moving up......that will likely be my downfall as I what do we call it now "quietly quit" or whatever bs they call it.

Started with paying off my mortgage, cars, then kids college ended paid for that, then daughter's wedding last year sealed the attitude of DGAF. Many of lifes events I thought I've have to take loans for. I didn't have to. We were lucky to move up in income, yet still live the same old way. So I paid them in full after dumping them on a credit card to collect points first. And holy fxck it feels good. Taking the whole family on a cruise next year to celebrate. That too will be paid in full with the CC points.

I won't retire realistically, but I'm at the point where I need to get smart in real estate tax writeoffs, because I'm sick of this tax shit. Staying working my day job will be funding real estate buys.
I'll need to take on some debt...but it will be in an LLC. Working on getting a real estate business going but finding properties that cash flow.....yeah....probably the worst time to do it. And with equity likely to start downward......i'm not jumping in yet. Just building cash for buys if the RE market skids out.

The only good thing, I can hold cash at almost 4% interest now in the bank, and also some I bonds that pay higher, but are less liquid.
 
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Yes and maybe 4.

Problem with #4 is people lack discipline and they will just continually drain their retirement and then retire broke or work til death.
Lot of people live beyond their means, I beleive we will find that out next year if RE equity takes a hit and prices start to move downward significantly.

Of course there are people with variable interest equity loans......ouch...they are feeling it now.
 
Lot of people live beyond their means, I beleive we will find that out next year if RE equity takes a hit and prices start to move downward significantly.

Of course there are people with variable interest equity loans......ouch...they are feeling it now.
I had a couple banks try and get me to sign off on low interest adjustable mortgages when the rates started going up. Told them where to go and pound sand with their private parts, went to another broker. Locked in at 3.7 thanks to Uncle Sammy taking forever to process my retirement paperwork. I started at 2.6, but in the 4 months I had to wait, I lost a percent.
 
Lol, retirement. I'm definitely going to have to work til the day I die. If I miraculously live another 27 years, there probably won't be any SS money to be had, so I'll be screwed no matter what.
 
It definitely needs more than I have. Turning 69 next month and planning on working full time at least until I'm 72. I will take full SS starting at 70 and see if I can save up some. If FJB keeps fing with oil and the Greens I will never be able to retire.
 
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