You're not the one dude. Likewise, all I want to do is retire early and travel the world but didn't happen as well.Originally Posted by greytruck
Metal Recycling Entrepreneur
|
You're not the one dude. Likewise, all I want to do is retire early and travel the world but didn't happen as well.
|
My retirement number: 6 feet.
As in 6 feet deep. Do what you love and you'll never work a day in your life.
Out of clutter, find simplicity. --Albert Einstein
Experienced Scrapper
21 is my lucky and favorite number...
Metal Recycling Entrepreneur
Pat wanted to retire what she did not realize was that she was already living the life most people dream of.
Pat a widow when we fist met 23 years ago picked up the pieces when I was at the lowest point in my life, we now have different postal codes but you don't discard 23 years of friendship.
We'll see how the summer plays out, I try to include her in my adventures and new hobby's. The most recent addition working with glass in a microwave kiln, this seems to interest her.
I'll more than likely find a working microwave and purchase her a kiln for it as she prefers to work alone.
|
I guess my magic number is zero. I am collecting SS and enrolled in Medicare this year. I quit the profession in education in 2010 and started my own business, scraping and farm restoration. My wife retired as an educator this year and we are officially retired, although I am still scraping.
Based on my previous responses on this thread, I am doing what I want, when I want, where I want, My wife would disagree if she saw this post because she is a control freak.
The keys to retirement:
pay off your mortgage before you retire
pay off your credit cards every month
pay off all loans(car, bank, etc,)
My brother earned 10x my salary but was leveraged on everything. Retirement was 2010 for me and he will be working until 2029. Difference is mortgage, credit card debt, and car loans. He is one year younger than me.
If you want insight visit Dave Ramsey and Clark Howard.
Give back more to this world than we take.
|
|
After my post last night, I started running some numbers. Keeping up with the Jones was never my cup of tea. Out of six trucks, the newest one is a 2011 diesel. Four of the trucks are standard transmission (keys are left in them in the big cities because few can drive a stick) and four are diesel. My last loan payment was in 2000. Because I did not care what others think, I retired at age 52. I still scrap, more for entertainment than money.
Recommendations:
Dave Ramsey- I was using his strategy before he market it. Wish I had started marketing it.
I never bought a new vehicle. Always buy used late model low mileage vehicles.
Use Consumer Reports to research anything you are interested in buying.
Buying at auctions can save money if you know the value of an item.
I buy clothes at Salvation Army and Goodwill.
The thread was focused on retirement. I am not trying to preach, only educate what has worked for me. i hope someone will benefit from it.
Metal Recycling Entrepreneur
|
Ahh well ... man plans / God laughs. You never know what's round the next corner. Life is full of surprises. Some good / Some bad. I try to live every day as though it were my last cause ya never know.
I was going to ease into retirement by part timing it until the pandemic hit. I could see that all of the economic stimulus programs would result in rampant inflation for years to come so i had to change and adapt. Anyone trying to live on a fixed income was probably going to get caught in a squeeze when the cost of living went up.
A nice year round job came up working for local government. It's a steady paycheck with overtime and full health insurance. That's a lot in this area because our economy is seasonal.
I really like the job. It's a nice mix of stability with independence. Most the townspeople are pretty happy with the work i'm doing so the boss mostly leaves me alone and stays out of my hair. It will leave the world in a better way than when i first started. There's satisfaction in that.
The vehicles are owned free & clear. The mortgage will be paid off by this time next year.
Thought about signing up for Social Security but i think i'll go another five years or so and hold out for the maximum benefit. They go by your best years and i'm making more than ever due to inflation. That will push the maximum even further.
Of course ... one never knows. Anything could happen between now and then. I'm pretty friendly with work so i might just keep going if i'm able. Most of the folks around here don't actually retire. They just slow down as the years roll on. Staying active & engaged in the community helps keep you young. It might be part of the reason for why we're the oldest state in the union
Last edited by hills; 05-15-2023 at 07:59 AM.
There are currently 1 users browsing this thread. (0 members and 1 guests)
|
Browse the Most Recent Threads
On SMF In THIS CATEGORY. 
OR 
|
Posting Permissions
Register To Reply
Bookmarks