Realistically, when do you think you can retire?

get. rich. quick.

duh.

 

Man.. this thread is exciting, but depressing as shit.

Been on my own since I was 16... And I'll probably work til I die.

 

NEVER I LOVE BUYING SHIT GONNA WORK TILL I DIE

 

Once house and vehicles are paid off I plan to dump as much into 401k and IRA. I get a pension based on my three best years so at some point I'm gonna try to work 7 day weeks for as long as I can three different years. Should make it easy to retire by the time I'm 60.
But who knows. Kids might happen.

 

How old are you? Can you get the 401 bigger and put the house and car on the back burner? Get that 401 balance as big as you can as early as you can. Let time make you some real money.

Don't count on that pension. I read articles every day about companies that get rid of pensions. I started at my company with a pension, but they went away. I knew 20 years ago that the odds of having a pension were iffy. I planned on it not being there. I won't miss it much.

 

if I penny pinch, ill be able to retire at 48. Im 29 now.

edit- When I say retire, I mean retire to my personal wants of being comfortable. Not having to worry about money.

 

Don't be like that. Not to be cliche but you can do anything you make a plan for and stick to. Everything I did anyone can do I started with zero just determination.

 

Do not forgo paying off your home to invest in retirement. That all works out OK in the land of no risk. But in the real world we have risk.

Contribute to 401ks but pay the home off. Then once the home is gone max out the 401k
If you are under 40 you still have time for that investment to grow.

I have zero plans to ever contribute more than 15% of my gross household income in retirement.


Ultimate goal (I’m 27 now) by 30 I have the home paid off and I never owe anyone a dime ever again in my life.

 

You can look at paying off a loan early as investing in an account that returns the same rate as the apr, with esentially no risk. With the doubling of the standard deduction and the limitation of salt taxes alot of people won't be able to write off home interest this year, which makes paying off a loan a decent "investment" depending on the interest rate.

 

How do you guys who invest in real estate think it compares to REITs? I have about 20% of my stock portfolio in REITs, and that portion yields about 9.5%. It offers a great return, and I don’t have to maintain an actual property, but I was wondering the difference in returns?

As an example, if you put $200k in REITs at a 10% yield, you would be making $20k a year in income. Is actual real estate that much better, and worth the hassle? I’ve been interested in real estate for a while but have just done it through REITs as an easier method.

Edit: I also agree with everyone who says they’ll never stop working. It’s not about stopping, it is about knowing you can stop whenever you want. The younger you can reach that, the better.

 

But for what? To be a regular person who lives a regular life? Fuck that, I want to travel, buy Ferraris, live where I want and do what I want. Only live once might as well shoot for the stars
But also here is Canada it's much different. The 401k you speak of is not here ours is different. If you want to retire well you need to do it yourself

 

When my body says no more. I have always worked manual labor. I love it. Keeps me in shape and make pretty decent money at it. I have the ability to take off when I please and no body can tell me no. Since my wife and own our own separate businesses it makes it nice to have that freedom. I don’t have an age or monetary goal set as of now. I would get bored anyway.

 

So much truth to this. Gives me anxiety just thinking about that. Sit there and plan to just ride out life in line with how the billionaires want you to

 

You must not have the right piggy bank. They tails must have the perfect curl along with the perfect length. It also helps to buy it from a little lady wearing a dark hood in a back alley. I bought mine from a pair of such ladies, which is the main reason that I'll expect such a great return.
I also made a hefty investment with a Nigerian Prince that contacted me via email. Apparently, it's only a one-time deal, so no one one will be able to profit as much as I am, which is a shame.

 

Lol. Sorry to say, but that Nigerian prince you got an email from, and that long lost cousin giving you an inheritance... Doesn't exist.

 

Lol!

 

So that I don’t have a house payment and I can go on nice vacations, buy a nicer truck, put my future kids through college.
I’d love to build my own home one day but you’ll never see me do a construction loan. Just shoot me on those.

I want to be able to support my family with not a whole lot of risk.

If I or my SO loses our job... I really don’t want either one of us worried about keeping the lights on.

I want to be able to retire without being a burden to my kids. And I want to leave them with a legacy.

I want to be able to give money and help make the world a better place.


Material crap? Screw that.
I don’t need a Fararri.

I would like a 2500 Cumins at one point on my mini farm but thats 20+ years from now.

I love that I have no car payments. My furnace could blow up tomorrow. No biggie I can replace it.
Roof leaking. I can buy me a new one of those.
I live in a modest home with low maint costs so I can spend my money on other things.

There is no such thing as having loans and buying it all. I don’t want loans so I can buy what I need and not worry.

Its all a risk thing.

I had a bad moment last year when a job I loved got to the point where my bosses where causing me so much stress it was flaring up my autoimmune condition and making me physically ill.
I came home telling my SO I had to quit. I didn’t have health insurance so my health declining was an issue.
SO just looked at me and said “OK Quit”. We don’t need your income right now.

Its an eye opening experience when you realize you have more options with less risk.

Thats why for me.

 

i would've quit for no health insurance rather stressed or not.. i'm financially well working side work for myself that I enjoy.

I'm even better now that i took a 7-5 with benefits plus still doing side work.

I will work as long and as hard as i can till i have a family. till then i'll grind it out so i don't have to when that day comes.

wonder if my girlfriend would be okay signing a prenup?!?! jokes she may be the breadwinner since she's going for veterinarian.
i've just got a BSM which is a dime a dozen, but I wanted it and could afford it while working for myself so.

 

I can retire now. Date set is August 5th, 2019. Many sacrifices made to this point so it will go as planned.

 

I loved my job so I made the sacrifice until the environment got to toxic to do it anymore.

I’m in a much better place now with a higher salary and benefits. Was a blessing in disguise.