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Posted: 3/19/2013 1:20:04 PM EDT
Who here has retired and living off just social security?

How about ss and a pension from a job?

My future retirement doesn't look too "wealthy" to me.

How do you do it? Do you work part time? Its my understanding even with ss you
are allowed to work and earn a certain amount per year.

What about your insurance. Just medicare? Private?

Should I work till I just possibly can't do it anymore? What decisions have you made regarding
retirement?
Link Posted: 3/19/2013 1:24:05 PM EDT
I plan on working until I drop dead.
Either that or I am going to one of the Soylent Home facilities.
Link Posted: 3/19/2013 1:27:36 PM EDT
I doubt that I'll be able to retire. I'll just keep working until I die.
Link Posted: 3/19/2013 1:32:16 PM EDT
[Last Edit: 3/19/2013 1:33:23 PM EDT by Extorris]
Originally Posted By rainman:
Who here has retired and living off just social security?
How about ss and a pension from a job?

Retired and living off a pension. In 20 years I'll start living off my other investments also.
Medical coverage was included in my retirement from the city.
Link Posted: 3/19/2013 1:37:20 PM EDT
[Last Edit: 3/19/2013 1:37:43 PM EDT by ar-jedi]

my bank is currently paying 11% on accounts over US$ 150K. i love offshore banking. it's awesome.

http://cyprusbank.org.ua/index/0-8

ar-jedi

Link Posted: 3/19/2013 1:47:17 PM EDT
Can't make it on ss so started a small business I like.

Gunsmithing, retail, rifle and pistol ranges. Keeps me busy having fun and the $$$ are a bonus. 01/03

If going to work till you fall over might as well do something you enjoy.
Link Posted: 3/19/2013 1:54:23 PM EDT

Originally Posted By ar-jedi:

my bank is currently paying 11% on accounts over US$ 150K. i love offshore banking. it's awesome.

http://cyprusbank.org.ua/index/0-8

ar-jedi


Hahahaha... My laugh for today!
Link Posted: 3/19/2013 1:57:00 PM EDT
[Last Edit: 3/19/2013 1:58:14 PM EDT by ar-jedi]
Originally Posted By r0ttie1:

Originally Posted By ar-jedi:

my bank is currently paying 11% on accounts over US$ 150K. i love offshore banking. it's awesome.

http://cyprusbank.org.ua/index/0-8

Hahahaha... My laugh for today!

well then this should do it for you as well:
http://deposit-rates.com/

The Benefits of Bank Deposit:

- No risk like in stocks.

- No flurry like in real estate.

- No criminal like in Ponti scheme.

- No losses from currency fluctations with hedging of currency risks

- No tax for non-resifent of Cyprus

- Stable and fixed return on the invested money

- Guaranteed by the Deposit Protection Scheme

- Exit prematurely with loan under deposit

- The investments can start from very low amounts

We are checking almost all banks in Cyprus and found for you the best interest rate on deposits.

Please contact us for details.

All deposits in Cyprus are protected by Central Bank of Cyprus in the amount up to 100'000 EUR.


Link Posted: 3/19/2013 2:00:40 PM EDT
Nobody should be expecting to be living on Social Security. (Not only for the obvious idea that it might not be there) It was never designed to be a retirement plan to provide a full retirement, the money back to the people was designed to be a foundation, and that you would build a pension or savings on top of it. If you didn't build a savings or pension why should you be expecting the taxpayers to come to your rescue?
Link Posted: 3/19/2013 2:11:54 PM EDT
Been disabled since 2000, and due to many things, I haven't been able to make a go of trying to be self sufficient again. I'm at the point now that I am getting really close. My health is better than it was to a small degree, but I cared for my father for the last four years, and he passed in June of last year. I've been caring for a sick son as well, but I can handle just he and myself.

It isn't easy on what we get. I buy and trade things for extra money, and we do without a lot of things. We don't eat fancy meals, and we don't have nice cars anymore ( I used to have new cars every couple of years, but I was a car salesman a good bit of my working life), or many other things. We are thankful for what we have though. We may get very close to not making it some months, but we always do. The Lord has provided every time. Like this month, I needed some cash to fix my son's car and pay a bill. I have extra furniture, and have had it for years. Never mentioned anything to anyone. I prayed and prayed about how I was going to get through. Well, a few days ago I had a man come by out of the blue and ask me if I had any used furniture. He was going to buy some things and sell them for the church auction. He came by today and bought several pieces, and I have almost exactly the amount to buy the gas tank I need, and pay a couple of other things. Almost what I need to the penny.

My plan though, and something I can handle, is to try and get a car or two and sell them here at the house. Sell a couple at a time, and eventually wind up with three, and then four etc. It won't be easy for me, but being able to do it at home will make it manageable.

When I get where I'm making the same as I am on disability , I will get off of it. I also plan on trying to cast lead .45ap and 9mm , along with a friend, and try and make a few bucks that way.

Once I get enough money going to be able to just fender trade anything and everything, I'll be ok.
Link Posted: 3/19/2013 2:15:37 PM EDT
I retired at 61 not because I wanted to, I could not work any longer. 5 back operations, 2 in the last year before I retired. I am too young for SS until July this year.
Wife retired 3 years ago from Post Office, we have insurance through her retirement which isn't too bad. I get a retirement from where I worked for 31 years.
I will NOT work again. I physically can not. We are tight with our money, and we get by ok. When SS starts in July we will be a lot better off.
Son is going through a divorce so he moved back home, all of his money goes to his 2 kids and house payments he can't get out of too soon so that has added a
burden on us. Also we keep 1 granddaughter 5 days a week while the mother works, and have her and her sister 24/3 a week. They are not cheap.
My only advice is to remember, "The Golden Years" aren't. Be prepared.
Link Posted: 3/19/2013 2:16:48 PM EDT
Picking up cans and dumpster diving for me.

Of course, I may find a job.
Link Posted: 3/19/2013 2:20:40 PM EDT
Originally Posted By KA3B:
I plan on working until I drop dead.
Either that or I am going to one of the Soylent Home facilities.


First post and all.
Link Posted: 3/19/2013 2:24:56 PM EDT
[Last Edit: 3/19/2013 2:26:22 PM EDT by lighteye67]
Dropping out of the work force in the next 2-3 years due to health reasons that are service connected. If you would have told 20 something me that I would be down for the count in my late 40's I would have laughed in your face, and lit another cigarette, and got in some more trigger time.

Between my VA disability, SS, 401k, and the nurse wife's pay, I think we'll be just fine. A little skinnier perhaps, but that's a plus at this point.
Link Posted: 3/19/2013 2:27:48 PM EDT
I took early retirement, I'm living on a pension. Next year I'll be able to start tapping my 401k. Before I quit working I downsized and adjusted my lifestyle to match my income. Since I didn't need to worry about nearby employment I was able to pay cash for a modest house in a small rural town that is close enough to "civilization" that I have access to whatever I need. So far things are working out pretty well, I have enough to eat and drink, cable tv, and broadband internet. Even have enough spare money to buy the occasional gun and ammo when I can find it. If you have expensive tastes or hobbies you might feel somewhat deprived, but that's never been an issue for me.
Link Posted: 3/19/2013 2:38:56 PM EDT
Originally Posted By ar-jedi:

my bank is currently paying 11% on accounts over US$ 150K. i love offshore banking. it's awesome.

http://cyprusbank.org.ua/index/0-8

ar-jedi



yeah that is a wise investment
Link Posted: 3/19/2013 2:43:39 PM EDT
I hate the term "Fixed-Income"

I'm 28 years old. I have a job. How is my income not "fixed"? I can't just walk in and demand more pay.
Link Posted: 3/19/2013 2:48:14 PM EDT
Originally Posted By KingRat:
I doubt that I'll be able to retire. I'll just keep working until I die.


This is my plan as well.
Link Posted: 3/19/2013 2:49:56 PM EDT

Originally Posted By CmdrTaco:
I hate the term "Fixed-Income"

I'm 28 years old. I have a job. How is my income not "fixed"? I can't just walk in and demand more pay.

You don't get overtime for putting in extra hours at being retired. It is also hard to quit and pick up another retired position.
Link Posted: 3/19/2013 2:54:19 PM EDT
You pay off your home and have no debts and had previously lived within your means and put away enough to live off the interest. The pension and SS is nice too.
Link Posted: 3/19/2013 2:59:07 PM EDT
Originally Posted By r0ttie1:

Originally Posted By ar-jedi:

my bank is currently paying 11% on accounts over US$ 150K. i love offshore banking. it's awesome.

http://cyprusbank.org.ua/index/0-8

ar-jedi


Hahahaha... My laugh for today!


Sad thing is, that even after their taxfeebailouthaircut of 10%, you are making more on that money than on a savings account here in the US.

Posted Via AR15.Com Mobile
Link Posted: 3/19/2013 2:59:12 PM EDT

Originally Posted By rainman:

Should I work till I just possibly can't do it anymore?

If you take care of your body, you can work into your 80s. My grandfather is 93 and today we worked all day at the ranch.

What decisions have you made regarding retirement?

I am never going to retire. I may change my work but I'm not going to become a pensioner.
Link Posted: 3/19/2013 3:03:02 PM EDT

Originally Posted By CmdrTaco:
I hate the term "Fixed-Income"

I'm 28 years old. I have a job. How is my income not "fixed"? I can't just walk in and demand more pay.

It's a silly term used to describe people who have "lived their life" and are now somehow entitled to chillax on their investments, pensions, or in the case of SS, the payments of the young. It isn't a "fixed" income because, with a few exceptions, they can get a job at any time to supplement it.
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