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Baby boomers retirees living the life


Baby boomers retirees living the life

Old 01-14-2015, 05:37 PM
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This is all good advice, thanks for sharing.

I'm 34, had my first 401(k) contribution when I was 21 and haven't stopped since. I figure that it will take close to 40 years of serious planning to be financially secure in retirement (hopefully late 50's/early 60's). I saw a huge opportunity to invest these past couple of years...when other people were running from the mkt I was increasing my contributions. Sold the performance boat (got a small bow rider in its place) and the extra toys and cut spending where I could so that I could invest it. Purchased a house (primary residence)...NOT my dream house, but a fixer upper (value added/good investment) in a very sought after town and well below what I could have gotten a mortgage for. Used the additional credit to put an offer in on a short sale investment property, which would be a long term play and will be cash flow positive on a monthly basis (with rates this low I can get a pretty decent ROI and there is already built in equity if my offer is accepted). I honestly think it will take this type of planning to be able to retire comfortably, especially if I want to put kids (none as of now) through college.

I know I'll have more opportunities to buy more boats, just don't know that I will ever see this type if environment in my lifetime, at least not when I am this open to risk. So I'm NOT out of boating, just sidelining it for now.

Keep the advice coming!
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Old 01-14-2015, 05:54 PM
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As a lay person investor type I took info from a financial planner back in my younger years. She told me the best investment for someone like me was an index fund. Index funds track the S&P 500 and since the inception of the stock market they have always kept up with inflation. She recommended Vanguard and Janus funds do to there track record and low overhead. Said to keep it there until 5 years before you plan to use it. When the 5 year mark hits, you should then move it to Government securities, savings bonds, or something not so volatile..

Since then most everything I had went into a Vanguard index fund. When the crash came I left it alone and kept putting money in. Now that it has come back I gained it all back and then some.
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Old 01-14-2015, 07:22 PM
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Originally Posted by Wildman1
Here I am retire from the dairy business sitting here in Florida watching Miami Vice reruns on TV. What are the rest of you guys doing during retirement? Got to much togetherness with the wife of 44 yrs so I am needed of getting out of the house.
Come on Wildman don't ruin the retirement picture for me. Getting close my friend.
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Old 01-14-2015, 07:37 PM
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I will retire from my full time job in 23 months at the age of 55. I plan on still running my side business for several more years however and live full time at LOTO. I could afford not to work living at the lake once retired but after I spent two weeks not working over Christmas at the lake I was bored to tears after a few days.
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Old 01-14-2015, 08:32 PM
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Originally Posted by 39 Unlimited
Come on Wildman don't ruin the retirement picture for me. Getting close my friend.
You can't retire yet you are building a new boat and you need some way to pay for it. LOL.
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Old 01-14-2015, 08:59 PM
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Getting close to semi retire this year, being 50 the main problem is health insurance.so having a business that can do that for me is big..... so the way i see it is when you had to work its something that you had to do everyday, now im trying to do things i want to do. also save as much as possible ie 401, simple plan, or any type of retirement plan..and most of all dont live over your means....No big boats.
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Old 01-15-2015, 02:30 AM
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Been retired for 8 years....and still active on the job...!!! 6 days a week at this place...

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Old 01-15-2015, 02:34 AM
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I'm back at LOTO looking for a house, I need my LOTO fix for this up coming boating season, Florida is perfect in the Winter, but not much beats LOTO in the Summer.

Gonna be a snowbird.

I piddle with real estate in my free time.
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Old 01-15-2015, 10:08 AM
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Big Time - You're doing it right buddy
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