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 Post subject: Re: Retire in ten years
PostPosted: Sun May 31, 2020 9:47 am 


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BryanM wrote:
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This basically is my retirement plan.
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 Post subject: Re: Retire in ten years
PostPosted: Sun May 31, 2020 6:42 pm 


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 Post subject: Re: Retire in ten years
PostPosted: Sun May 31, 2020 8:18 pm 


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I'm not the most financially literate, but I have a tda which I have maxed at 22% and a pension which will be 60% of the average of my last three years salary.

My annuity (the tda) is split between the stock market and a fixed return of 7.5%. Want to say like 1/3 of it gets the 7.5 and the remaining 2/3s is in the stock market. It's been a few months since I've peeped it.

As I get close to retirement I will move the money in the market into the fixed return as to avoid any nasty surprises. I've saw people getting ready to retire in 08 take a bath. This year too.
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 Post subject: Re: Retire in ten years
PostPosted: Sun May 31, 2020 9:53 pm 


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Stevens wrote:
As I get close to retirement I will move the money in the market into the fixed return as to avoid any nasty surprises. I've saw people getting ready to retire in 08 take a bath. This year too.


For sure -- not sure when I'll start sliding that over but I assume it really needs to be on the radar if you want to retire within 10 years. For sure 5. Contrary to popular belief, I'm not quite that old yet.
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 Post subject: Re: Retire in ten years
PostPosted: Sun May 31, 2020 10:17 pm 


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I would prefer to leave the money in variable as long as possible.

That said per quarter (I think it's per quarter) I am only allowed to move a certain % between fixed and the market. I'll have to do some backwards engineering when the time comes.

All things being equal I've got another 14 years so..
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 Post subject: Re: Retire in ten years
PostPosted: Sun May 31, 2020 11:37 pm 



Joined: 20 Apr 2018
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Location: St Louis, IL, USA
Stevens wrote:
I'm not the most financially literate, but I have a tda which I have maxed at 22% and a pension which will be 60% of the average of my last three years salary.

My annuity (the tda) is split between the stock market and a fixed return of 7.5%. Want to say like 1/3 of it gets the 7.5 and the remaining 2/3s is in the stock market. It's been a few months since I've peeped it.

As I get close to retirement I will move the money in the market into the fixed return as to avoid any nasty surprises. I've saw people getting ready to retire in 08 take a bath. This year too.


Thanks for posting this. Awesome job that provides 60% of top 3 years. Sounds just like my military retirement.

I wouldn't worry about things like 2008 and now. We lost 1/3rd of our savings and my wife started freaking out, but I told her we needed to keep investing (cost share averaging) the last 3 months and the market has come mostly back.

Historically (which isn't what can happened in the future of course), the market always comes back after taking a dive, and it doesn't even take that long (if you're divested). If it doesn't at some point in the future, well, you've got bigger issues than some savings, as the country is basically bankrupted.


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 Post subject: Re: Retire in ten years
PostPosted: Mon Jun 01, 2020 2:06 am 


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Location: Toledo, OH
One of my least favorite things about the internet is that it never forgets. All too often I stumble upon old posts of mine and cringe hard. But in this case... I was actually pretty reasonable.

While retirement isn't on my radar right now, I'm still living below my means and throwing a big chunk of each paycheck into my retirement account (index funds, for now). According to those guidelines of where you should be by certain ages, I'm like 5-10 years ahead of schedule, and my mortgage will be paid off in 3 years. Being a childless hermit in a Midwestern shithole pays off, I guess.

But considering how wild things are right now, economically and otherwise, I have zero confidence in my ability to predict what life will look like in 5+ years. Just keep working and hoping to one day live the dream of being an austere autodidact free of any work obligations, I guess. In the unlikely event that UBI ever becomes a thing, it'll probably be too late for me to leverage it for supreme laziness. That's probably my best bet for trying to avoid making an honest living.


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 Post subject: Re: Retire in ten years
PostPosted: Mon Jun 01, 2020 2:24 am 


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XtraSmiley wrote:
Thanks for posting this. Awesome job that provides 60% of top 3 years. Sounds just like my military retirement.

I wouldn't worry about things like 2008 and now. We lost 1/3rd of our savings and my wife started freaking out, but I told her we needed to keep investing (cost share averaging) the last 3 months and the market has come mostly back.

Historically (which isn't what can happened in the future of course), the market always comes back after taking a dive, and it doesn't even take that long (if you're divested). If it doesn't at some point in the future, well, you've got bigger issues than some savings, as the country is basically bankrupted.


Yeah. The variable is a long game anyway. I bet the market well crash at least one more time before I'm ready to start thinking about putting my papers in.

When I started the job 17 years ago a veteran, who was on his way out said to me, "Kid, open your tda, put as much as you can into it, and put it in the stock market. It will go up and down day to day, but will go up over the course of your career".

To which I responded "My td what?"
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 Post subject: Re: Retire in ten years
PostPosted: Mon Jun 01, 2020 3:32 am 



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+1.

I skipped this thread the first time around because I was still finishing my studies and getting paid spare cash for it.

I am half-tempted to ask for "free consultancy" so that you lads can have a laugh or twelve (and GP will just facepalm and think that I am a moron), and probably offer perfect advice as well :lol:
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 Post subject: Re: Retire in ten years
PostPosted: Mon Jun 01, 2020 7:31 pm 


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I love these time-warp necro bumps.

I'm in the process of downsizing my video game collection. In most cases I'm getting a sizable return on what I paid back in the 00s but still feel like a goddamn fool for not putting at least half of that money in an index fund at the time. I still value the enjoyment that I got out these games and how it lead me to rediscover arcade-style play but think I may have overdid things a bit. (I suspect others here have some experience in taking an interest to the extreme).

The common joke around here is rare Saturn import collection = retirement nest egg and yeah, prices now versus 10 years ago are nuts. But the transaction costs (not just ebay/paypall fees but also the time it takes to sell) and opportunity costs of not investing back then weigh heavily against the game collectors. Nothing beast the liquidity of a broad ETF (other than cash of course). As has been said before on these forums (can't remember where exactly...), if you aren't doing it for the love of the games then you're just wasting time and money.

Another thing I've been thinking about lately is the Golden Age comic collector's market. I think I first heard Chris Kohler make this point, but the generation that was paying tons of cash for golden age comics has essentially died out and there aren't many who are willing to buy these comics for what they once went for. Sure Detective Comics #27 and Amazing Fantasy #15 will always fetch an insane price but all the other less famous issues are just sitting there. I think it's likely something similar will happen with games. I'm not sure the younger generation will be buying up the Saturn collections when we all reach retirement.

Anyway, sorry for the slight derail and autofellatio


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 Post subject: Re: Retire in ten years
PostPosted: Tue Jun 02, 2020 12:58 am 


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Randorama wrote:
I am half-tempted to ask for "free consultancy" so that you lads can have a laugh or twelve (and GP will just facepalm and think that I am a moron), and probably offer perfect advice as well :lol:


LOL --- never.
Honestly, I worked in finance for ages (finally sold my soul recently, btw) but am not super savvy. I fucking hated talking about markets at the bar... like literally the last thing I wanted to talk about. Also being restricted as to not get audited, I was never able to do anything really exotic... or at least if I did and things went to shit I couldn't dump it in time, so never bothered. As such, my financial advise to just about anyone is to find a fund (mutual or ETF) with a very low cost (Google how that works) but a nice return. Throw it in there. Don't fuck with it. Also, see below.

Quote:
The common joke around here is rare Saturn import collection = retirement nest egg and yeah, prices now versus 10 years ago are nuts. But the transaction costs (not just ebay/paypall fees but also the time it takes to sell) and opportunity costs of not investing back then weigh heavily against the game collectors.


Go plug some numbers in on a compounding interest calculator. Assuming you bought your Saturn games in 2000, every single one of them on average would have had to quadruple in price to match an annual 8% interest rate for those 20 years, which was not hard at all. (In fact the fund I put my 401k in is a whopping 13% for the last 10 years even after this shit.). Now, out of all of us game nerds, who buys games that only appreciate in value?
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 Post subject: Re: Retire in ten years
PostPosted: Tue Jun 02, 2020 8:52 am 



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GP: thanks; I guess that you might simply say that you enjoy your work because it pays well, but at 5 pm you're done with it (or so I hope). Hopefully they paid well for your soul, then :wink:

The truth is that I have a mutual fund, and I kept putting spare change in it over the last decade or so, since my main priority were living decently while being abroad, and finish paying a mortgage (OK, my late grandpa made the down payment as a gift, bless him!).

I believe that the waifu should start with a mutual fund as well, so we will look into it in the next few months. I am not saying anything more out of superstition, but if work-wise things go (well) as planned, we may focus for the next...20+ years or so on just putting money in the funds and ignore them for any other purpose.

I also will have a pension at some point. Long story short, I will be able to receive a pension based on my years of work across EU countries, and if I spend at least 10 years in CHN I should also get a pension from the local government.

...and then there's the collectabilia. I may be suffering from early Alzhemeir onset, but I'd like to mention (perhaps, for the one kazillionth time) that the late grandpa also left me with a collection of rare porcelain dolls.

I admit that I never thought that Saturn games could become an investment, but I remember that my grandpa discussed with me, more than once, how certain types of objects tend to be very safe investments, if only because humans have this weird habit of collecting increasingly rare artifacts.

Funny how 13 years ago I would have never imagined to post again in this thread, to discuss any of these matters. Dear meteorites, please strike us off to extinction in 2080 or so.
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 Post subject: Re: Retire in ten years
PostPosted: Tue Jun 02, 2020 1:18 pm 



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Randorama wrote:
GP: thanks; I guess that you might simply say that you enjoy your work because it pays well, but at 5 pm you're done with it (or so I hope). Hopefully they paid well for your soul, then :wink:

The truth is that I have a mutual fund, and I kept putting spare change in it over the last decade or so, since my main priority were living decently while being abroad, and finish paying a mortgage (OK, my late grandpa made the down payment as a gift, bless him!).

I believe that the waifu should start with a mutual fund as well, so we will look into it in the next few months. I am not saying anything more out of superstition, but if work-wise things go (well) as planned, we may focus for the next...20+ years or so on just putting money in the funds and ignore them for any other purpose.

I also will have a pension at some point. Long story short, I will be able to receive a pension based on my years of work across EU countries, and if I spend at least 10 years in CHN I should also get a pension from the local government.

...and then there's the collectabilia. I may be suffering from early Alzhemeir onset, but I'd like to mention (perhaps, for the one kazillionth time) that the late grandpa also left me with a collection of rare porcelain dolls.

I admit that I never thought that Saturn games could become an investment, but I remember that my grandpa discussed with me, more than once, how certain types of objects tend to be very safe investments, if only because humans have this weird habit of collecting increasingly rare artifacts.

Funny how 13 years ago I would have never imagined to post again in this thread, to discuss any of these matters. Dear meteorites, please strike us off to extinction in 2080 or so.


The most important thing here is this, and I IMPLORE you to listen to me. Sell those dolls. They will come to life and KILL YOU IN YOUR SLEEP.


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 Post subject: Re: Retire in ten years
PostPosted: Tue Jun 02, 2020 3:06 pm 



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XtraSmiley wrote:
The most important thing here is this, and I IMPLORE you to listen to me. Sell those dolls. They will come to life and KILL YOU IN YOUR SLEEP.


That's why they are in the basement, completely tied up and incapacitat...I mean, "well-preserved". These are all porcelain dolls from the late 1890's to 1930's, very popular in Germanic countries, and freaky as hell given how artificial they look (aren't all dolls like this? Brrrr!).

Hopefully there are still people willing to fork money for these, as collectabilia markets can be volatile, unless it is booze. I am fairly sure that wine and whisky also belong to the "can only appreciate in value" market segment. Provided that you do not drink them, of course!

EDIT: Also: what to do once retired? I mean, aside playing bocce/petanque, sitting in the park while pointing to people with a walking cane, and complaining about "the young people"?

We probably need to lure BIL into compiling a list of "pension games" to 1-CC once we have no fucking clue on how to spend our days, and our reflexes are non-existant :lol:
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 Post subject: Re: Retire in ten years
PostPosted: Tue Jun 02, 2020 4:12 pm 


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Randorama wrote:


EDIT: Also: what to do once retired?


As someone who works in the public sector and has a fair amount of time off (teacher) I absolutely have zero interest in ever being 100% retired.

There will be two to four days a week I am required to be someplace doing something. I'd be lying if I said I knew what that would be, but I am aware that I will need something.
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 Post subject: Re: Retire in ten years
PostPosted: Tue Jun 02, 2020 7:15 pm 


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I'm an artist, and before I even entered into the workforce I occupied myself with various art projects (including video game production) for years. I was NEVER bored. Let me have your time off.

Money-based annuities are out... Time-based fountains of youth are in.


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 Post subject: Re: Retire in ten years
PostPosted: Tue Jun 02, 2020 8:09 pm 


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for real playing jrpg is part of my retirement plan :mrgreen:

i make art too like zack above so for sure this will occupy a bunch of time as well. but one still needs more I think (at least I will)


I'm envious of my dad, who fiured this out easily : he's a handyman and has a garage/shed so he's always super busy with projects. fixes some houses in our hometown too. but at very old age when he can't craft anymore, he's gonna have to find something else.

I'm in the opposite situation : very end of life I have it sorted out (jrpg and art) but early retirement I still don't know. I don't wanna make art 40hrs + in early retirement, I wanna have something else in addition to that, while I'm healthy and in shape
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 Post subject: Re: Retire in ten years
PostPosted: Tue Jun 02, 2020 8:24 pm 


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I know a kickass old war vet that is still doing woodwork at 93. What a boss.
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 Post subject: Re: Retire in ten years
PostPosted: Tue Jun 02, 2020 8:32 pm 


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Steamflogger Boss wrote:
I know a kickass old war vet that is still doing woodwork at 93. What a boss.

For sure ! respect

one of my uncles pretty much did woodwork till he bit the dust as well (late 80 something). Lumber and also sculpt wood
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 Post subject: Re: Retire in ten years
PostPosted: Tue Jun 02, 2020 8:58 pm 


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Randorama wrote:
We probably need to lure BIL into compiling a list of "pension games" to 1-CC once we have no fucking clue on how to spend our days, and our reflexes are non-existant :lol:

He'll probably suggest being loaded onto a boat filled with kindling and twitch action games, set adrift and lit ablaze, ensuring passage into BILhalla, where birds forever respawn but can always be satisfyingly jump-slashed.
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 Post subject: Re: Retire in ten years
PostPosted: Tue Jun 02, 2020 10:39 pm 


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:lol:

Rando: would love to see you take those dolls to one of these antiques/art appraisal shows (like 'Antiques Roadshow', to name one that's popular in the Anglosphere) :D


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 Post subject: Re: Retire in ten years
PostPosted: Wed Jun 03, 2020 12:31 am 


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GaijinPunch wrote:
Go plug some numbers in on a compounding interest calculator. Assuming you bought your Saturn games in 2000, every single one of them on average would have had to quadruple in price to match an annual 8% interest rate for those 20 years, which was not hard at all. (In fact the fund I put my 401k in is a whopping 13% for the last 10 years even after this shit.). Now, out of all of us game nerds, who buys games that only appreciate in value?


Seriously, it's no contest. even if you don't want to bother with calculating the compound interest with recurring payments (as most don't invest lump sums for retirement) you could just look at the S&P then (even in the midst of the dotcom bubble) and compare it to now.

Of course stocks are expensive now even after the big plunge in February. Nobody knows for sure but it seems unlikely that we'll see anything like a 13% gain over the next 10 years. I'm still trying to save and invest (what's the alternative?) but am trying to reign in my expectations. Retirement might be further away then I'd like it to be.

Then again, lots of folks don't have anything saved so I have to stay grateful that I'm not going into the red every month.


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 Post subject: Re: Retire in ten years
PostPosted: Wed Jun 03, 2020 2:09 am 



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Stevens:

I am currently in academia, so if everything works out well, I could become an emeritus who writes papers for fun (well, the pension might count as a salary for that "work"). Three of my former supervisors/referees do this, and one of them still does fieldwork on African languages at the tender age of 80, but at his own pace.

Personally, I get the impression that retiring and doing things at one's own pace, with no pressure about performance and career, is pure bliss. I also plan to follow Schwarzie's example and keep exercising until I can, of course.

BM: I guess that once the fire is lit, the departed will be accompanied by Judas Priest's "Painkiller" at eardrum-splitting volumes, while the person reading the eulogy will also 1-LC Metal Slug 3 with his left hand!

6t8k: I plan on having the dolls appraised at some point or another. They are probably not in pristine conditions, but I guess that selling these dolls to someone who could take good care of them might be a wiser choice than just leaving them in a basement. :wink:
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 Post subject: Re: Retire in ten years
PostPosted: Wed Jun 03, 2020 3:33 am 


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scrilla4rella wrote:
Then again, lots of folks don't have anything saved so I have to stay grateful that I'm not going into the red every month.

Yeah, a few years back when I started researching where I should be by my age, that's one thing that stuck out to me. A lot of people have nothing saved at all, and even among those that do, most fall far, far below the recommended benchmarks. Not surprising, but still notable. And something I occasionally need to remind myself of, because I'm super fucking lucky.

As for keeping oneself occupied during retirement, I think that varies wildly by individual. How much of your identity is wrapped up in your career? What kind of social ties do you have at work? Outside of work? What is your family situation? What hobbies do you have? Do you like the structure that a full-time job brings, or do you find it stifling? The questions could go on and on.

From personal experience, my one grandpa was kind of frustrated and restless in retirement. He had that "old country" mentality and needed to constantly keep busy and be productive. Both of my parents seem to keep themselves pretty occupied, but a lot of that has to do with helping with the grandkids, and my dad always has hobbies and projects around the house that keep him busy.

At work we get the last part of the year off, Christmas through New Years, so roughly a week and a half. Upon returning, I commonly hear people say things like "it was nice, but after a while I was starting to get bored, it's good to be back," and I'm thinking to myself "shit, I thought it flew by, felt like a 3 or 4 day weekend." Granted, that's still a short period of time, but I have no doubts about my ability to fill my time, even if I don't have any grand or exciting plans.


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 Post subject: Re: Retire in ten years
PostPosted: Wed Jun 03, 2020 9:09 pm 


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The point of getting retire in ten years is to have a early retirement. So let's me share what it is like to have a early retirement.

I retired 3 years ago, and I play vedio games, watch TV, reading novels, watch movie, build scale models and play boardgames with friends all days. I am able to paint my model during daytimes where the lighting is good. I am able to sleep at noon. I am able to do things in working hours where others people is busy working. I don't need to queue up when go the super market, bank or restaurt etc, as the number of staffs serving is more then the customers.

There have a filp side, since most of my friends are not retired yet, I won't be able to meet ot play with them until holiday. So activities during weekdays is limited to solietile for the most of times.

Do I miss my working days? No, I don't.
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 Post subject: Re: Retire in ten years
PostPosted: Wed Jun 03, 2020 10:23 pm 


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None of that really sounds a big shocker -- it sounds like what most people would do if they retire. The question is how to attain it. In most cities in the world, it is extremely difficult. If you have kids, 1000x more difficult (per child).
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 Post subject: Re: Retire in ten years
PostPosted: Wed Jun 03, 2020 10:36 pm 


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SAM wrote:
The point of getting retire in ten years is to have a early retirement. So let's me share what it is like to have a early retirement.

I retired 3 years ago, and I play vedio games, watch TV, reading novels, watch movie, build scale models and play boardgames with friends all days. I am able to paint my model during daytimes where the lighting is good. I am able to sleep at noon. I am able to do things in working hours where others people is busy working. I don't need to queue up when go the super market, bank or restaurt etc, as the number of staffs serving is more then the customers.

There have a filp side, since most of my friends are not retired yet, I won't be able to meet ot play with them until holiday. So activities during weekdays is limited to solietile for the most of times.

Do I miss my working days? No, I don't.

What a dream life, congrats. I remember you from V-V high score thread.


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 Post subject: Re: Retire in ten years
PostPosted: Wed Jun 03, 2020 10:44 pm 


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GaijinPunch wrote:
None of that really sounds a big shocker -- it sounds like what most people would do if they retire. The question is how to attain it. In most cities in the world, it is extremely difficult. If you have kids, 1000x more difficult (per child).


Never have kids tbh.
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 Post subject: Re: Retire in ten years
PostPosted: Thu Jun 04, 2020 12:10 am 



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Davey wrote:
At work we get the last part of the year off, Christmas through New Years, so roughly a week and a half. Upon returning, I commonly hear people say things like "it was nice, but after a while I was starting to get bored, it's good to be back," and I'm thinking to myself "shit, I thought it flew by, felt like a 3 or 4 day weekend." Granted, that's still a short period of time, but I have no doubts about my ability to fill my time, even if I don't have any grand or exciting plans.


You and me both brother. Those people sound super sad to me.

SAM wrote:
The point of getting retire in ten years is to have a early retirement. So let's me share what it is like to have a early retirement.

I retired 3 years ago, and I play vedio games, watch TV, reading novels, watch movie, build scale models and play boardgames with friends all days. I am able to paint my model during daytimes where the lighting is good. I am able to sleep at noon. I am able to do things in working hours where others people is busy working. I don't need to queue up when go the super market, bank or restaurt etc, as the number of staffs serving is more then the customers.

There have a filp side, since most of my friends are not retired yet, I won't be able to meet ot play with them until holiday. So activities during weekdays is limited to solietile for the most of times.

Do I miss my working days? No, I don't.


I'm more jelly of you than a guy who has a Battle Garegga PCB.


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 Post subject: Re: Retire in ten years
PostPosted: Mon Nov 09, 2020 9:55 pm 


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Here are some links I've found through my research. Dang, if we had lived below our means and invested in index funds in a 401k/403b/457b in 2007... But no better time to start than the present. Let's check in again in 10 years and post in this thread, yeah? :)

https://www.reddit.com/r/personalfinanc ... mmontopics
https://i.imgur.com/lSoUQr2.png

https://www.mrmoneymustache.com/2013/02 ... blog-post/

http://earlyretirementextreme.com/

https://www.bogleheads.org/forum/index.php

https://www.reddit.com/r/Frugal/

Books:
I Will Teach You to Be Rich - Ramit Sethi
https://www.amazon.com/Will-Teach-You-R ... ffae3a273c

Bogleheads Books

https://www.amazon.com/Bogleheads-Guide ... 245&sr=8-3

https://www.amazon.com/Bogleheads-Guide ... 245&sr=8-4

The Simple Path to Wealth
https://www.amazon.com/Simple-Path-Weal ... 245&sr=8-7

Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required
https://www.amazon.com/Quit-Like-Millio ... 200&sr=8-2
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