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Good information

Agtitan06,

Some very good information, thank you for sharing it with us. I am already retired soto late for me, but my wife is still working.

The only problem I see right now is that the Democrats are working on a bill to take over all retirement programs and adding them to the bankrupt Social Security program. I am not sure if it will pass or not and have not heard all the details on it. I am wondering if it might not be wise for my wife to take an early retirement and roll out of her 401K to keep them from getting their hands on it.

Actually if they decide to go through with this bill they probably can confiscate your wealth wherever you put it.

OkieScot
 

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Agtitan06,

Some very good information, thank you for sharing it with us. I am already retired soto late for me, but my wife is still working.

The only problem I see right now is that the Democrats are working on a bill to take over all retirement programs and adding them to the bankrupt Social Security program. I am not sure if it will pass or not and have not heard all the details on it. I am wondering if it might not be wise for my wife to take an early retirement and roll out of her 401K to keep them from getting their hands on it.

Actually if they decide to go through with this bill they probably can confiscate your wealth wherever you put it.

OkieScot
hmmm sounds like Nazi Germany my dad grew up in...what say you Comrade Obama????
 

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Wow I really feel fortunate to be better off now than when people retire according to the statistics. I'm 32 with two children.

To be honest my first big splurge was my 03 Nissan Frontier. That I plan on keeping for as long as it runs. This purchase was after my home in which my wife and I did not splurge on. My home buying advice is that buy a house in which is close to a rental payment for which you could rent a place to support your family. Meaning if you need three bedrooms then price out a rental place in your area for three bedroom.

One thing I would say to young people is to stop trying to live over people around you. That new widget for you frontier may not actually be needed if you cannot pay cash and still have money to pay off everything for the month.
 

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bump and +1

Just want to echo what's been posted already - saving for retirement is something to do early and often.

My dad retired my senior year of high school (public pension) and on the first day of my first real job, there was a 30-something MBA in the group who beat into us to contribute the max 15%.

Today, I'm 36 and have over 100k in 401k and Roth. About 20k of that came from the wife. So here I am, after 15 years and some pretty shitty markets (that includes 2001 crash and all the recent fun) and still in 6 figures. So hang in there.

I think "they" will be very hard pressed to nationalize individual retirement accounts without getting some sort of opt-in/opt-out from you. This sort of outright theft is playing with fire, and they know it.

But just in case, I also have some whole life insurance that's building cash value. I highly recommend it, if you can squeeze it into your plan. If you go with a really solid company (I chose NML, you might like something else) it's almost guaranteed growth. Plus, if you think it's hard for a politician to try to come after your retirement savings, watch heads roll if someone even mentions coming after your life insurance. :censor:

A great way to do save, whether your company offers a retirement plan or not, is to set up an auto-deduct every month from wherever your paycheck goes. Just like you'd do with any other bill. That way it's gone before you have a chance to miss/redirect it. Make saving another bill you pay; your local bank will be thrilled to set it up for you.
 

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Best financial advice ever, Don't take advice from broke people. Whole life ins. is a waste of $, get term! Don't put all of your eggs in one basket! Being diversified doesn't just mean spreading your investments around to hedge loss. The only way to guarantee no loss is not to risk. safest place for your $ is in a lock box. Investing is gambling, like it or not....not saying I don't invest, but 50% goes where only I can touch it. you should all take what is going on in Europe as a warning. Once a govt. decides to take your investments they can and will and there is nothing you can do about it. its not that bad here yet but the day will come. This nation now has a majority of socialists. Dont say you weren't warned. Have a nice day!
 

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Personally, i'm going to work for as long as i can, within reason. I think once i sit back and just enjoy myself, things will go down hill fast. I think a lot of us find meaning in work.

Also, when things get bad and you need 24 hour support, you'll find that the government will take all the money you have and very quickly. I've seen this happen to a ton of people.

I've also seen people not change their lifestyles one bit, once they've reached retirement age... So you do the math.

This is just an alternative point of view.
 

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If someone is blessed with good health and with employment they enjoy, working past normal retirement age is a splendid thing. I can't assess what my health might be, it's doubtful that I'll want to continue on with my high stress job and I certainly don't want to be a financial burden to my child or my wife, so I'll continue on my current path of saving for retirement. Life looks a lot different to me today in the latter part of my career than it did 30+ years ago when I was young.

Whether to save for retirement is a decision best made early in one's working lifetime; at 50, it's a steep hill ascend if no steps have yet been taken.
 

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Obviously most people don't enjoy work, but much like "working" out, it's worth the while, even if it's just for the mental well being. As the old saying goes, the devil makes work of idle hands.. And there's probably going to be plenty of work for older folks in the future. I'd even fancy driving a truck around or something like that. Why the hell not?

And stress actually isn't that bad, really. Break a leg or something, and you'll soon find yourself yearning to work again. As for being a burden on your family, that's kind of a sad way of looking at things in my opinion. Lot's of families are more that happy to take care of their elders and actually even look forward to that time, to bring each other together again, etc.

Just offering another perspective. I'm sure we'll manage somehow. Not really too worried myself. Damn if things get real bad, I'll go to jail, have TV and three square meals. heh heh heh.
 

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A thing I've taken note of in the last few years is the decline of worthwhile content on popular financial websites. Aside from daily market activity, most of the content is just plain stupid -- how the rich invest, where the rich live, what Warren Buffett thinks (his mug everywhere every day), what Bill Gross thinks (yes, we know he left Pimco thank you), America's Best Jobs, America's Worst Jobs, America's Cheapest Houses, Secrets To Paying Off Credit Cards, What T. Boone Pickens Is Buying, Russian Billionaire Sells Boat ... and so on and on and on.

They've turned into entertainment sites without any investing value. MSN Money is the latest to turn to idiocy to gain clicks.

Does anyone know of good sites that minimize the stupid stuff and instead offer intelligent content?
 

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Morningstar, Wilshire & a few others offer better neutral information for investors, but I'm not sure if private individuals get full access--They charge 5 to 50 basis points on the 401k plans we service. Nerdwallet, betterment.com & learnvest are all fantastic "robo- advisors" too for those who prefer not to deal with human nature. Anybody with 401k & rollover questions, let me know but obviously don't give out confidential info online. I don't track or sell any investment products, FYI.
 

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Thank you Jake. You mentioned Morningstar. I checked them out and they do indeed offer some worthy reading without paying for a subscription and there're no idiotic ads. Nice! Thanks again.
 
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