How do you plan to retire?

[ShadowMaster]

I was just wondering what everyone is doing to prepare for retirement? I know some of you have large amounts money coming in from a variety of lucrative endeavors so I was wondering if anyone is saving or investing their money to be comfy in the future? And if you have achieved the majority of your life goals whatever those may be? What are your life goals? And what are you doing to accomplish those goals?

[Nowhere]

I actually do not care to 'retire'. Most people I know who have become wealthy enough to do that miss the socialization and productivity they had when they actually "worked" and end up doing just that, even if it is only part-time.

I understand that in the past when someone would work hard labor in a steel mill their whole life, wanting to escape that, eventually, but office work isn't that bad, and I plan on doing that until I croak.

I mean, what would I do if I wasn't doing that?

Play shuffleboard and bingo or sit around and watch TV every day?

No thanks!

[MrsKellyPierce]

I plan on killing you

[TheOne1]

I plan on killing you

premeditated murder is def. an interesting way to retire.
what gang to you plan on joining in prison?

[MrsKellyPierce]

I plan on killing you

premeditated murder is def. an interesting way to retire.
what gang to you plan on joining in prison? :lol: the one with a bunch of hot hung hardbodies that need serviced

[marissaazts]

i retired at 34

i now spend my times shoping going to lunch w/friends, moves, playing w/my dog, cooking, playing video games,spa days ......

[kalina]

It depends on what people think being retired is. To some, it means accumulating at least $1 million in the bank via savings and 401k and waiting until you're 62 to get most of it. If so, I've got a long way to go. If being retired means you paid off your cars, house, and other bills and just pay for utilities each month, then I can retire in 3 years when I'm 42. But this is not a wise thing to do because I have too many expensive hobbies like music, photography, and clothes, so it's not a good idea to retire until I'm like 50.

[suckseed]

I was going to start a thread about this actually. My parents were in town for Christmas and we started talking about THEIR retirement plan...which apparently is keep working until one of them dies and then the life insurance will take care of the other. I think that's sad, but I can't argue with the logic. So I asked them what they would think if I were to pay for upping their insurance for a...piece of the action :oops:...they think it's a great idea. They're in their early seventies. Anyone have any input on the viability of this, or how I'd go about it?

[kalina]

I was going to start a thread about this actually. My parents were in town for Christmas and we started talking about THEIR retirement plan...which apparently is keep working until one of them dies and then the life insurance will take care of the other. I think that's sad, but I can't argue with the logic. So I asked them what they would think if I were to pay for upping their insurance for a...piece of the action :oops:...they think it's a great idea. They're in their early seventies. Anyone have any input on the viability of this, or how I'd go about it?

Wait a sec... what if by chance both of them die at around the same time? It happens. Then you won't be getting anything.

Put your money into a set of stocks. BRK.B or GOOG should be one of them.

[suckseed]

I was going to start a thread about this actually. My parents were in town for Christmas and we started talking about THEIR retirement plan...which apparently is keep working until one of them dies and then the life insurance will take care of the other. I think that's sad, but I can't argue with the logic. So I asked them what they would think if I were to pay for upping their insurance for a...piece of the action :oops:...they think it's a great idea. They're in their early seventies. Anyone have any input on the viability of this, or how I'd go about it?

Wait a sec... what if by chance both of them die at around the same time? It happens. Then you won't be getting anything.

Put your money into a set of stocks. BRK.B or GOOG should be one of them.

I don't understand. I'm assuming that you're saying if they are each other's beneficiaries, and they die together, in that event the insurance is not paid to the relatives?

[justatransgirl]

I was going to start a thread about this actually. My parents were in town for Christmas and we started talking about THEIR retirement plan...which apparently is keep working until one of them dies and then the life insurance will take care of the other. I think that's sad, but I can't argue with the logic. So I asked them what they would think if I were to pay for upping their insurance for a...piece of the action :oops:...they think it's a great idea. They're in their early seventies. Anyone have any input on the viability of this, or how I'd go about it?

As for retirement. Yes, I have a plan. I had a plan once before, but the trans thing got in the way. So now the plan is to get Jessica through college and let her support me in my old age. Yeah, that's gonna work isn't it.

Yeah "SS," I can relate, my Mom's 80 - and I've been thinking that if I could find some insurance company dumb enough to cover her for a couple of million life could be sweet! But with my luck she'd live to be 105, like my grandmother...

Giggle,
TS Jamie :-)

[suckseed]

I was going to start a thread about this actually. My parents were in town for Christmas and we started talking about THEIR retirement plan...which apparently is keep working until one of them dies and then the life insurance will take care of the other. I think that's sad, but I can't argue with the logic. So I asked them what they would think if I were to pay for upping their insurance for a...piece of the action :oops:...they think it's a great idea. They're in their early seventies. Anyone have any input on the viability of this, or how I'd go about it?

As for retirement. Yes, I have a plan. I had a plan once before, but the trans thing got in the way. So now the plan is to get Jessica through college and let her support me in my old age. Yeah, that's gonna work isn't it.

Yeah "SS," I can relate, my Mom's 80 - and I've been thinking that if I could find some insurance company dumb enough to cover her for a couple of million life could be sweet! But with my luck she'd live to be 105, like my grandmother...

Giggle,
TS Jamie :-)

You know Jamie, I've seen you mention the putting Jess through college thing before. I know nothing about your relationship of course. But that does seem like a bit of a risk for you. What if the relationship goes sour?
And the risk of resentment. I guess that's just part of the vulnerability of loving someone...but if I were her, I'd be offering you some kind of 'pre-nup.' Otherwise, it could be 'hey, thanks for the tuition, but I've met someone else' someday. Sorry to be blunt, but an ex still owes me about ten grand which I'm sure I'll never see.

[kalina]

I was going to start a thread about this actually. My parents were in town for Christmas and we started talking about THEIR retirement plan...which apparently is keep working until one of them dies and then the life insurance will take care of the other. I think that's sad, but I can't argue with the logic. So I asked them what they would think if I were to pay for upping their insurance for a...piece of the action :oops:...they think it's a great idea. They're in their early seventies. Anyone have any input on the viability of this, or how I'd go about it?

Wait a sec... what if by chance both of them die at around the same time? It happens. Then you won't be getting anything.

Put your money into a set of stocks. BRK.B or GOOG should be one of them.

I don't understand. I'm assuming that you're saying if they are each other's beneficiaries, and they die together, in that event the insurance is not paid to the relatives?

I'm pretty sure that's the case. Whatever money they do pay you will go towards the funeral bills. It costs a lot to die these days.

[suckseed]

I've been looking around since posting this...there are a lot of things to consider. Not being held in suspicion of offing the folks for the cash, and also the fact that if it were this easy, everyone would insure the old folks. Anyway, I'm going to ask the Momster to look into it for me. Thanks for the heads up on that Kalina.

[justatransgirl]

You know Jamie, I've seen you mention the putting Jess through college thing before. I know nothing about your relationship of course. But that does seem like a bit of a risk for you. What if the relationship goes sour?
And the risk of resentment. I guess that's just part of the vulnerability of loving someone...but if I were her, I'd be offering you some kind of 'pre-nup.' Otherwise, it could be 'hey, thanks for the tuition, but I've met someone else' someday. Sorry to be blunt, but an ex still owes me about ten grand which I'm sure I'll never see.

Yeah honey. That's probably exactly what will happen. I'm in denial of course and I don't want to think about it. But as anybody who's ever met her knows - Jessica just melts your heart - so what else can I do but love her and suffer the knowledge that there's a 20 year age difference and nothing lasts forever...

Can I go cry now?

Sigh,
TS Jamie :-X

[kalina]

I've been looking around since posting this...there are a lot of things to consider. Not being held in suspicion of offing the folks for the cash, and also the fact that if it were this easy, everyone would insure the old folks. Anyway, I'm going to ask the Momster to look into it for me. Thanks for the heads up on that Kalina.

No prob. I've been through some funerals recently and in all cases any money that insurance pays the spouse is usually used to pay for a hefty funeral bill. Like I mentioned before, put your money into some stocks you trust, that is, companies and products you like. Don't touch your stocks for 5+ years. You'll see some good money come out of it.

[blonde zombie]

Term life insurance generally does not cover people over about age 90. Read your policy closely. The actuarial tables don't lie. After a certain age the value of the policy generally goes to zero value no matter how much you have paid over a lifetime. We are the first generation of Americans to be sucked dry by the insurance industry and by the time most of us realize it, it will be too late.

Insurance companies write the laws in the USA and they are not in business to lose money.

[BeardedOne]

I'm pretty sure that's the case. Whatever money they do pay you will go towards the funeral bills. It costs a lot to die these days.

My mom's funeral expenses, by her design, were exactly $3030.00 (Plus a $50 adjustment two years later because the family and her lawyer can't get anything done). It was a pre-need payment, inspired by my father's pre-paying his own funeral expenses in 1957 (He died in 1982).

Insurance policies, annuities, etc. have a chain of beneficiary system that should be set up in advance of one's demise. An example: Whatever is left after taxes, bankruptcy, revolution, and act of Gawd goes to my son. Hev'n f'bid he predeceases me, it then goes on down a line of funds and charities.

My life is such that I fully expect to expire before my career does, so retirement isn't a big issue for me. The pension and 401k allow for beneficiary and Social Security isn't going to be around anyway.

Along this line I am reminded of the old joke: I want to die peacefully, in my sleep, the way my grandfather did. Not screaming in terror like the other people in his car.

[TheOne1]

slip and fall accident at work

[suckseed]

Yeah honey. That's probably exactly what will happen. I'm in denial of course and I don't want to think about it. But as anybody who's ever met her knows - Jessica just melts your heart - so what else can I do but love her and suffer the knowledge that there's a 20 year age difference and nothing lasts forever...

Can I go cry now?

Sigh,
TS Jamie :-X

Easy girl! It was just a question. If Jessica is everything you say, I'm sure she wouldn't take you for a ride (except the good kind.) But....why not discuss the future? I say this as a musician who signed a contract saying he'd be paid no royalties unless the band was in the black...which - Surprise! - never happened. I made two grand on 80,000 cd's sold.)
Protect thyself!

[kalina]

I say this as a musician who signed a contract saying he'd be paid no royalties unless the band was in the black...which - Surprise! - never happened. I made two grand on 80,000 cd's sold.)
Protect thyself!

Ack!!!! You should've gotten $1 per CD.

I never signed with a record label. I wanted to do it all myself. I paid $300 per year for a promoter and he got my songs on MTV in the first year. I made sure I copyrighted all my songs and registered them with BMI and I've made thousands on my music. Of course, half of it goes to the IRS, but I was never in it for the money. Any CDs I sell, I get to keep all the money. Do it yourself!

[suckseed]

I say this as a musician who signed a contract saying he'd be paid no royalties unless the band was in the black...which - Surprise! - never happened. I made two grand on 80,000 cd's sold.)
Protect thyself!

Ack!!!! You should've gotten $1 per CD.

I never signed with a record label. I wanted to do it all myself. I paid $300 per year for a promoter and he got my songs on MTV in the first year. I made sure I copyrighted all my songs and registered them with BMI and I've made thousands on my music. Of course, half of it goes to the IRS, but I was never in it for the money. Any CDs I sell, I get to keep all the money. Do it yourself!

What happened was an established band asked me to replace their drug addled keyboard player. I was simply in the right place at the right time. For six years they were paying me two grand a week for playing on stage for two hours six nights a week. During that time we made four records - the band has sold over a million over the years, but that's over the course of about nine records, which means that there weren't millions of dollars in profits to anyone but the distributor/record company. But for six years there I had a pretty good time. It is amazing what your average young woman will do if she thinks you're famous. There was actually a time when I was bored with college pussy. Oh, for a time machine!

[Quinn]

Speaking as someone who retired fully near the end of my thirty-fifth year, I can say that it's not at all what it's cracked up to be. All of the things you think will be so much fun to do unencumbered by the need to work soon lose their taste. The novelty wares off way too quickly. At thirty-six, I'm back working, though my professional responsibilities are somewhat less pressing than they once were.

Bottom line: The problem with being ambitious enough to retire early is that by the time you are financially capable of doing it, you will be too fundamentally changed from the person you once were to ever actually do it. For my perspective, there are just too many opportunities out there for me to be anything other than what I am. Retirement will come when I’m dead.

-Quinn

[Ecstatic]

It depends on what people think being retired is. To some, it means accumulating at least $1 million in the bank via savings and 401k and waiting until you're 62 to get most of it. If so, I've got a long way to go. If being retired means you paid off your cars, house, and other bills and just pay for utilities each month, then I can retire in 3 years when I'm 42. But this is not a wise thing to do because I have too many expensive hobbies like music, photography, and clothes, so it's not a good idea to retire until I'm like 50.
Oh shite! I missed the mark by six years! Damn. Well, I guess for me it's work till I'm 66, then re-evaluate and probably sell the house (with hopes--however ill-founded--that the housing market will have recovered and be on a good upward trend at that point), move to a MUCH less expensive location than eastern Taxachusetts, and most likely live on a combination of our 401k and other savings (meager as they are), profit (one hopes) on selling the house, soc sec, and work part-time in web design and photography (unless tech advances have left me hopelessly behind).

[marissaazts]

Bottom line: The problem with being ambitious enough to retire early is that by the time you are financially capable of doing it, you will be too fundamentally changed from the person you once were to ever actually do it.

i couldent disagree more for the last 9yrs i have loved every moment of doing what i want when i want and haveing no one but my sig other and puppy to awnser to

[RevolveR.]

I hope to have a small business by the time I want to retire, which will make post work life much easier than I would have expected a couple of years ago.

[justatransgirl]

SS - OK I had a good cry and I'm back now.

Actually I went to the hair dresser and then had a quick date with a real cute Navy guy! Just doing my duty to support the war effort. So I'm in a happy mood again!

As for your contract thing. That's so typical.

Musicians, photographer, actors, writers, web designers, and porn stars ALL get fucked in any contract unless they have a good lawyer - in which case if they listen to him, they won't get any work unless they are a super star.

I used to be a photojournalist. I have thousands of published images and worked for a major paper. But I OWNED all my images. Then in the late 1990's the magazines and newspapers did a rights grab - they wanted rights to all media (print, web, etc) for the SAME price. The bonus was that you got to keep your job if you signed.

So I retired and went surfing and sailing for a few years.

And now I'm a hooker.

Giggle,
TS Jamie :-)

[hondarobot]

I'm hoping some blond haired girl will hire me as a pool boy someday. I'm just not very good at being personally successful. I just don't want to do it.

I lack the personal ambition gene.

[justatransgirl]

I'm hoping some blond haired girl will hire me as a pool boy someday. I'm just not very good at being personally successful. I just don't want to do it.

I lack the personal ambition gene.

How "big" are you? :-) :-)

I may need a pool boy someday.

Will you work for food?

Giggle,
TS Jamie :-)

[ShadowMaster]

Jamie,

Do you still do freelance photography occassionally? Or are you mainly focused on your website and escorting? And if not have you ever thought about taking it up again? Or being a photographer for an adult magazine? Just wondering.

[Hara_Juku Tgirl]

Based on my observations, People who retire and does nothing eventually are the one's who easily get physically weakened and or get sick. So if I get to the grey years (IF ever I'm that lucky) I still plan to do something like running a small scale business just to keep me busy and my mind and body pre-occupied with things.

~Kisses.

HTG

[CORVETTEDUDE]

The only REAL Retirement is....Death!!! :shrug

[Ecstatic]

I used to be a photojournalist. I have thousands of published images and worked for a major paper. But I OWNED all my images. Then in the late 1990's the magazines and newspapers did a rights grab - they wanted rights to all media (print, web, etc) for the SAME price. The bonus was that you got to keep your job if you signed.

So I retired and went surfing and sailing for a few years.

And now I'm a hooker.

Giggle,
TS Jamie :-)
Good on you, Jamie. As a web designer, occasional writer, and semi-pro photographer (meaning I earn enough to pay for my toys), I know what you're talking about. I honestly don't know if, in your position, I would've walked away from that deal, and it's to your credit that you did.

[Quinn]

The only REAL Retirement is....Death!!! :shrug

Well said.

-Quinn