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How are you planning for retirement at this point in life?

Guys, I have to be a buck with y'all. The closer the day comes, the more antsy I get. Financially, we're good. It's the new routine that's getting me. I'm sure I'll be fine, but it's how it is, according to my friend that retired last year. I retire on 4/18, and we're moving to Panama on 5/3. Looking forward to this next phase, but after working since I was 15, it's going to be an adjustment. Like my aunt said, "Retiring at 58 ain't the worst thing in the world, nephew! You got this! Go get it!". I love that woman!
 
woodchuck said:
Guys, I have to be a buck with y'all. The closer the day comes, the more antsy I get. Financially, we're good. It's the new routine that's getting me. I'm sure I'll be fine, but it's how it is, according to my friend that retired last year. I retire on 4/18, and we're moving to Panama on 5/3. Looking forward to this next phase, but after working since I was 15, it's going to be an adjustment. Like my aunt said, "Retiring at 58 ain't the worst thing in the world, nephew! You got this! Go get it!". I love that woman!
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You got this, WC.


Always remind yourself that you earned this. You worked for 40+ years to be able to retire comfortably in your late-50s.

That's my goal too. To retire by approximately 58 - 60. Aiming for 2037 - 2039.

My best advice is do what you want to do. Props to your aunt for the vote of encouragement too.

My mom retired in her early-60s after some 35 or so years of nursing. What I noticed with her is that she just got caught up on stuff she wished she had more time for back in the day while being a working mom.

I.E. - walking more / going to the gym / joining a dragonboating team in the early-2010s / volunteering more for a few organizations / being a part of a music group (playing ukele) ... a co-ed choir at her church ... a book club (either done in person or over Zoom). In other words ... stuff that makes her happy. Going to the movies & watching more at home. Travelling more, etc.

I told her back in the early-2010s that she looked healthy. We were out for lunch and she was dressed stylishly. Looked more refreshed than she had back in her 40s when she was stressed and working in the 90s when we were high schoolers ...
 
woodchuck said:
Guys, I have to be a buck with y'all. The closer the day comes, the more antsy I get. Financially, we're good. It's the new routine that's getting me. I'm sure I'll be fine, but it's how it is, according to my friend that retired last year. I retire on 4/18, and we're moving to Panama on 5/3. Looking forward to this next phase, but after working since I was 15, it's going to be an adjustment. Like my aunt said, "Retiring at 58 ain't the worst thing in the world, nephew! You got this! Go get it!". I love that woman!
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Early congrats. I hear what you're saying and always wonder whether or not I will FULLY retire. I'm sure I could find enough to do with all that time... but I'm also one of those people that are naturally purpose-driven, so ideally I'd like to find something worthwhile and low impact that I could maybe do part time and get paid for it.

Any part/some-time work options down in Panama that you may consider? To keep you busy and at least earn some pocket cash?

Personally, I'm childless and at the rate I'm going it'll likely stay that way. But I enjoy kids. Wouldn't mind teaching or mentoring in some capacity when I get to that retirement stage.
 
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Helico-pterFunk said:
My best advice is do what you want to do.
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..there it is. That's what it's all about.

One of the attorneys at my firm retired last month and I was asking what his plans were. I suggested possibly teaching or mentoring, if for no other reason, to pass on his years of experience and knowledge. And ended with: "Well, going forward.. this is the time where you get to be as involved, or not involved, as you want to be."
 
Madrox said:
..there it is. That's what it's all about.

One of the attorneys at my firm retired last month and I was asking what his plans were. I suggested possibly teaching or mentoring, if for no other reason, to pass on his years of experience and knowledge. And ended with: "Well, going forward.. this is the time where you get to be as involved, or not involved, as you want to be."
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Good suggestion, Madrox.


Leave that door open to involve himself if he's so inclined. Make his own schedule in doing so.


I've got a friend at another work location that I talk to a few times weekly. He's 53 now and in a good place financially. Single with no kids. No debt. Never planned on marrying. Does the same work as I do, and has a research job (through one of the universities) wherein he does an additional 20 hours of work (from home) weekly. His rent is only a little over $1000 in a larger, older apt building.

We've talked real estate and investments in recent years, and he noted he plans to retire by 60.

He does a fair bit of travelling already (fave destinations are Phillipines - his homeland, Hawaii, Paris, Spain, and Japan).

He said he'll probably keep his name on the oncall / auxillary list at work when "retired" just in case he wants to pick up some shifts here and there. Primarily in the spring or summer months, as he'd be more motivated than in the cold months of fall and winter. And it would be nice to have a little money coming in (aside from investments, savings, and pension plan) to help pay for the vacations. Either that or do more work with the psych research contract, as it pays well. Said the current contract is for 5 years, whereas he's been working in this field (the company we're with) for 20+ years. April will mark 21 years for me ...
 


In today's Five Question Friday (FQF) video, we tackle the following questions:

1. Do Roth conversions in the top tax bracket ever make sense?
2. Does the wash sales rule apply to purchases in Roth IRA?
3. Does rebalancing change once you retire?
4. How should taxes influence my investing decisions?
5. How to think about risk tolerance?
Bonus: No Fee Index Funds
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0:00 - Intro
1:31 - Do Roth conversions in the top tax bracket ever make sense?
5:46 - Does the wash sales rule apply to purchases in Roth IRA?
7:55 - Does rebalancing change once you retire?
14:40 - How should taxes influence my investing decisions?
17:47 - How to think about risk tolerance?
21:55 - Bonus: No Fee Index Funds
Click to expand...
 
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Retirement plan in Trump's 'Murica
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In this edition of Five Question Friday (FQF), we look at these five questions:

1. My 401k is not employer matched, should I stop contributing to my employer 401k and open a Roth IRA instead?

2. Where should we keep cash we'll need to spend in 12 to 18 months?

3. Can you implement the bucket strategy in Boldin?

4. SCHD + TIPS & Chill?

5. Do Short-Term Treasury Bills provide the same inflation protection as TIPS?
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Timecodes:

0:00 - Intro
0:27 - Target Date Fund Strategy
3:39 - 1-Fund Total World Stock Market Portfolio
6:07 - The Financial Tortoise Community
9:14 - 1-Fund Total US Stock Market Portfolio
11:35 - Classic Stocks/Bonds (60/40) Portfolio
14:46 - Bogleheads 3-Fund Portfolio
17:20 - Rick Ferri Core Four Portfolio
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A viewer named Eileen asked about how her children, who are in their twenties, should invest. Here's her question: Can you do a video on constructing a retirement account (Roth) for my 20 year old kids? They are contributing 15%. I am thinking 10% VGSLX, 10% VSIAX, 30% VTIAX and 50% either VTSAX or VVIAX. Your thoughts please.

In this video I'll walk through the 3 goals of long-term investing, evaluate Eileen's proposed portfolio, and look at one alternative.
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You do all the right things: you save regularly, balance return and risk in your portfolio, and remain patient. However, when it comes time to retire, you discover, after a lifetime of right behaviour, that your retirement falls far short of your expectations. How could this happen? In this video, we’ll look at ways to make sure it’s you that gets rich and not the finance industry.
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Timestamps
00:00 Introduction
00:32 Where Did My Returns Go?
04:01 “Fees Are Too Small To Matter”
07:49 Do Expensive Funds Get Better Returns?
10:32 Avoiding The Dark Side of Compounding
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We look at the following questions in today's Five Question Friday:

1. Are growth stocks best for Roth IRAs?
2. How should you pay taxes on retirement account withdrawals?
3. How should you invest in retirement if you are scared of the stock market?
4. What's the ideal set-it-and-forget-it retirement portfolio?
5. Should you withdrawal cash from investment accounts to create an emergency fund?
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Learn which kinds of bonds deliver the best diversification benefits.

00:00 Introduction
00:19 Who Needs to Invest in Bonds?
01:44 How Do Bonds Work in Your Portfolio?
02:46 Why High-Quality Bonds Are Best to Protect Against Stock Market Movements
03:18 Which Bonds Have Been Weak Portfolio Diversifiers?
04:25 Why Investors May Not Want to Completely Avoid Junk Bonds
05:20 Will Cash Continue to Be Better for Portfolio Diversification Than Bonds?
06:20 Are Municipal Bonds Good Equity Diversifiers?
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Helico-pterFunk said:
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Five Windows of Opportunity for Roth Conversions

When you convert a traditional IRA to a Roth IRA matters if you want to limit how much you pay in taxes.
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Thanks for this. Just did a Roth conversion on some funds I had at a previous employer. It's going to be mostly equities but im looking at getting into another tax bracket soon.
 

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