...

Go Back   Lateral-g Forums > Lateral-G Open Discussions > Off Topic Forums
User Name
Password



Reply
 
Thread Tools Display Modes
  #1  
Old 03-12-2021, 07:09 AM
XLexusTech XLexusTech is offline
Senior Member
 
Join Date: Jun 2007
Posts: 1,331
Thanks: 85
Thanked 110 Times in 64 Posts
Default serious retirement question.

If you were 50 single.. ... had 0 debt.. 0 assets 1 million in 401k and 1 million in cash.. what would you do?

Ps dont say keep working at the stressful job.. cause thats why I am asking
Reply With Quote
  #2  
Old 03-12-2021, 07:54 AM
Vegas69's Avatar
Vegas69 Vegas69 is offline
Senior Member
 
Join Date: Dec 2006
Posts: 8,663
Thanks: 86
Thanked 210 Times in 119 Posts
Default

I'd seriously consider chasing a passion. What excites you? What are your strengths? Life is too short to just endure. If you stay in your current job and don't chase something else, will you regret it? You could always start part time.

I'm going through a transition now myself. I'm 44 and my real estate business is the strongest it's ever been with 20+ years invested, but it's not what I want to do for the rest of my life. I'm 9 months into a professional coaching certification and I'm putting that business together and I have my first paying client. I love it and I believe it's what I'm meant to do! When I coach it takes me to the highest levels of energy. It just doesn't feel like work. I've never felt that way about real estate.

However, wherever we go, there we are. We can't assume the grass will be greener if the stress is intrinsic and rooted in our beliefs. It's very possible for us to "show up" energetically the same way in a new adventure. If the stressors tend to be outer and out of your control, then moving on may be best.

Imagine a coach recommending a coach. HA Part of my certification has been coaching and being coached. After being coached by my peers for 50+ hours, it's been absolutely life changing for me. A professional coach can simply take you to a place you can't take yourself consciously. I've been trained to implement an attitudinal assessment. It's extremely accurate in regards to creating awareness in how we show up energetically under different circumstances. It roots out the beliefs that are holding us back. That awareness is the first step in changing how we approach circumstances and show up energetically. It's very possible to go from a response of stress to a anabolic or building up energy instead. It creates awareness around your strengths as well so you can tap into them more often.

You may want to consider a transitional coach or a business coach. Anyway, I hope this helps in some way.
__________________
Todd
Reply With Quote
The Following User Says Thank You to Vegas69 For This Useful Post:
BonzoHansen (03-12-2021)
  #3  
Old 03-12-2021, 11:09 AM
dontlifttoshift's Avatar
dontlifttoshift dontlifttoshift is offline
Senior Member
 
Join Date: Oct 2012
Location: Beach Park. IL
Posts: 928
Thanks: 10
Thanked 168 Times in 100 Posts
Default

If your annual expense is 100k or less and you can generate a tick over 4% with your money you will be 90 before you run out.

If you can live on 80k a year, you would be fine to retire and do whatever you want and never have to worry about money at all.
__________________
Donny

Support your local hot rod shop!
Reply With Quote
  #4  
Old 03-12-2021, 11:15 AM
dhutton dhutton is offline
Senior Member
 
Join Date: Nov 2006
Location: Mountain Springs, Texas
Posts: 1,857
Thanks: 985
Thanked 448 Times in 247 Posts
Default

I retired, we moved out of the suburbs to a place in the country with a shop where I build nice driver quality cars for a few friends and friendly customers. I don’t make a whole lot of money but I don’t care because I am a hell of a lot happier than I was working as an engineer. No office politics and BS. Zero debt. The income has let me stay out of my IRA and let it continue to grow.

I will add that make sure you have a good plan for health insurance. It’s a minefield in my experience.

Don

Last edited by dhutton; 03-12-2021 at 11:22 AM.
Reply With Quote
The Following 9 Users Say Thank You to dhutton For This Useful Post:
130fe (03-13-2021), Avgasman (03-23-2021), camcojb (03-13-2021), cpd004 (07-10-2021), Doug Hoyle (03-13-2021), fleetus macmullitz (03-13-2021), jarhead (04-21-2021), Spiffav8 (03-12-2021), Vegas69 (03-12-2021)
  #5  
Old 03-13-2021, 03:47 AM
srode1 srode1 is offline
Senior Member
 
Join Date: Jan 2021
Location: Cincinnati Ohio
Posts: 141
Thanks: 131
Thanked 57 Times in 41 Posts
Default

Quote:
Originally Posted by dhutton View Post
I will add that make sure you have a good plan for health insurance. It’s a minefield in my experience.

Don
Yeah, I was going to say Healthcare is the thing to make sure you have covered well including nursing care when you get to that point.

My advice, is have a discussion with a company that manages investments for individuals like Morgan Stanley etc. They normally do a great job of giving you probability based financial plan for free based on the historical and projected investment returns, taxes, your spending plans etc in exchange for a shot at managing your investments for you. The outcome will be a good budget and strategy to meet your life goals through retirement.

My other advice beyond can you afford it is retire to something, not away from something, you probably have lots of years ahead of you so make sure you know how you plan to use all that time. After 2.5 years being retired, I have no idea how I ever had time to work and zero interest in it. I don't have enough time to do all the things I want to do now as it is (including work on my cars). In my last few years at work I found myself getting more frustrated with the lack of time to do things I enjoy outside of work, and getting bored with work. If I had just not liked my job, I would have probably moved on to do something else instead of retiring. When I retired i was approached by a number of people who were interested in hiring me for consulting work - but it would have taken time away from the things I am enjoying doing being retired. If I enjoyed working I wouldn't have retired, I had a job that wasn't bad and paid very well.

Last edited by srode1; 03-13-2021 at 04:05 AM.
Reply With Quote
  #6  
Old 03-13-2021, 08:24 AM
raustinss raustinss is offline
Senior Member
 
Join Date: Dec 2013
Location: Kitchener ,Ontario
Posts: 802
Thanks: 50
Thanked 77 Times in 61 Posts
Default

id become a male stripper lol
Reply With Quote
  #7  
Old 03-13-2021, 02:12 PM
Flash68's Avatar
Flash68 Flash68 is offline
Moderator
 
Join Date: Sep 2005
Location: NorCal
Posts: 9,145
Thanks: 58
Thanked 158 Times in 104 Posts
Default

Quote:
Originally Posted by XLexusTech View Post
If you were 50 single.. ... had 0 debt.. 0 assets 1 million in 401k and 1 million in cash.. what would you do?

Ps dont say keep working at the stressful job.. cause thats why I am asking
Zero RE holdings? Not even primary residence?
__________________
2004 NASA AIX Mustang LS2 #14
1964 Lincoln Continental
2014 4 tap Keezer
Reply With Quote
  #8  
Old 03-13-2021, 05:36 PM
66fury's Avatar
66fury 66fury is offline
Senior Member
 
Join Date: Feb 2013
Posts: 237
Thanks: 0
Thanked 7 Times in 7 Posts
Default

seems like you could do what ever you want. what is it you love?
__________________
mark
Reply With Quote
  #9  
Old 03-13-2021, 05:53 PM
Flash68's Avatar
Flash68 Flash68 is offline
Moderator
 
Join Date: Sep 2005
Location: NorCal
Posts: 9,145
Thanks: 58
Thanked 158 Times in 104 Posts
Default

Quote:
Originally Posted by Vegas69 View Post
I'd seriously consider chasing a passion. What excites you? What are your strengths? Life is too short to just endure. If you stay in your current job and don't chase something else, will you regret it? You could always start part time.
This. I’m hoping/planning to do just this in the near future.
__________________
2004 NASA AIX Mustang LS2 #14
1964 Lincoln Continental
2014 4 tap Keezer
Reply With Quote
  #10  
Old 03-13-2021, 07:07 PM
XLexusTech XLexusTech is offline
Senior Member
 
Join Date: Jun 2007
Posts: 1,331
Thanks: 85
Thanked 110 Times in 64 Posts
Default

Quote:
Originally Posted by Flash68 View Post
Zero RE holdings? Not even primary residence?
Assume I leave that to a loved one to ease this transition

"Just drop off the key Lee.. and set yourself free.. "
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 07:14 AM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.
Copyright Lateral-g.net