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Pensacola Discussion Forum » General Discussion » I picked a fine country and time to retire.....

I picked a fine country and time to retire.....

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TEOTWAWKI

TEOTWAWKI

Should I retire or keep working ? Tough question in this economy.

Guest


Guest

thats a hard one.......


Retire

move down south, be my secret love slave and live happily ever after. Razz

I wont cost you a penny. And we can go fishin and whatever. we will be friends with benefits..... Wink

TEOTWAWKI

TEOTWAWKI

*Secret_Angel* wrote:thats a hard one.......


Retire

move down south, be my secret love slave and live happily ever after. Razz

I wont cost you a penny. And we can go fishin and whatever. we will be friends with benefits..... Wink

I always wanted me a nympho. That would be far better than any other pet.

ZVUGKTUBM

ZVUGKTUBM

TEOTWAWKI wrote:Should I retire or keep working ? Tough question in this economy.

It depends on your age, how healthy you are, and how much you enjoy your work. If you are in good health, your job is secure, and you like it, it might be worth working a couple more years. Especially if you can dump some more money into an IRA or 401(k) plan. If your employer provides annual profit sharing or 401(k) match, you can grab some more of that, too.

Retirement for Baby Boomers is not going to be as secure and ideal as it was for our parents and grandparents. They were the only generations who will receive full Social Security. Older Baby Boomers will get it until the government can't borrow any more money or the dollar collapses. After that, recipients are going to be given IOUs, as will anyone else who gets any kind of government transfer payments (yes, this includes retired civil servants, veterans, postal workers and military). When the stock market crashes in the next few years, our 401(k)s are going to be worth a lot less, too. We are going to have to get by on bits an pieces of what we thought we would retire on.

In saying all of this, I know I don't sound like the left-leaning liberal people like to label me on these forums; I have just read too many books and blog articles in the last year on this stuff. We have not seen the worst of the worst yet--that is coming in the next 10-12 years. Best to: have a diverse portfolio, get yourselves out of debt, and keep your eyes vigilantly open. Don't subscribe to any particular political philosophy or agenda, as today's Republican and Democratic politicians don't have the answers to our country's current problems, and are more alike than they are different. Our politicians are more loyal to the corporate/financial oligarchy which calls the true shots in this country than they are to the people who placed them in office.

http://www.best-electric-barbecue-grills.com

Guest


Guest

Might I suggest moving abroad. This is something I have been considering for the last 5 years. I remember when I started a 401k years ago, they have all the neat little calculators that tell you what you should have at certain intervals in your retirement account. well I have maxed out contributions 20% and 5% employer matched funds and at the 15 year mark assuming just a 4% growth I should have had at least 400k in the account according to all the little retirement calculators. Well I have never taken a loan against it, never reduced my input and low and behold there is less than 80k in the account. Basically it is all the money I contributed to the account. So I image in 30 years there may be 250k max in the account if I am lucky because 401k's are just so awesome and great (sarcasm). So to retire in American on 250k total at 65 years old would mean find another job and work until you die. If you are fortunate enough to be retired military, state, county, or a federal employee on the old CSRS retirement stay here in American because you will always have a paycheck. If you get sick you are screwed because medical cost would gobble up that 250k like a starving Ethiopian eating a big mac, if you have some type of federal, state or county retirement you could survive but just barely.

If not you might want to think abroad. I have an old navy buddy who retired and moved to Belize. He didn't retire from the navy and only had a crappy 401k to retire on so he opted to move south. We keep in touch and I visited him 3 years ago. He owns a modest little house in the country and his standard of living is better than it would have been here. He has some medical issues and so far has had real good experiences with the doctors down there, just have to find one who speaks English. Granted there are obstacles to overcome and things are different but financially it makes sense since your money goes further.

Guest


Guest

I've been kinda thinking the same thing teo... i don't know what i want to do. I've been trying to play tennis tourns... but i might've used up all of my miles on this body. I'm bored... i need an adventure or a project.

ZVUGKTUBM

ZVUGKTUBM

alecto wrote:Might I suggest moving abroad. This is something I have been considering for the last 5 years. I remember when I started a 401k years ago, they have all the neat little calculators that tell you what you should have at certain intervals in your retirement account. well I have maxed out contributions 20% and 5% employer matched funds and at the 15 year mark assuming just a 4% growth I should have had at least 400k in the account according to all the little retirement calculators. Well I have never taken a loan against it, never reduced my input and low and behold there is less than 80k in the account. Basically it is all the money I contributed to the account. So I image in 30 years there may be 250k max in the account if I am lucky because 401k's are just so awesome and great (sarcasm). So to retire in American on 250k total at 65 years old would mean find another job and work until you die. If you are fortunate enough to be retired military, state, county, or a federal employee on the old CSRS retirement stay here in American because you will always have a paycheck. If you get sick you are screwed because medical cost would gobble up that 250k like a starving Ethiopian eating a big mac, if you have some type of federal, state or county retirement you could survive but just barely.

If not you might want to think abroad. I have an old navy buddy who retired and moved to Belize. He didn't retire from the navy and only had a crappy 401k to retire on so he opted to move south. We keep in touch and I visited him 3 years ago. He owns a modest little house in the country and his standard of living is better than it would have been here. He has some medical issues and so far has had real good experiences with the doctors down there, just have to find one who speaks English. Granted there are obstacles to overcome and things are different but financially it makes sense since your money goes further.

Hey, if you move to Belize, they have been trying to implement a National Health Insurance program since 2003.
http://health.gov.bz/www/health-projects/national-health-insurance

I don't know their program compares to Obamacare, however.

http://www.best-electric-barbecue-grills.com

no stress

no stress

Go ahead and do it. Should I retire is the same stifling question just like should we have kids. If you wait until you think you have enough money its too late. I retired last year at 48 years old and went into the DROP here where I'm at. My financial planning has been haphazard at best...I've got about 110 K in a T Rowe account that I take loans from all the time and pay back. That wont help out much. My DROP account will have a little over 300 K in it when I leave here in 4 years and I will draw a retirement of around 60 K that gets a COLA every year. You cant live high on the hog with that kind of money but me and the wife won thave to eat catfood either. Get the hell away from that job and travel the world man.

Guest


Guest

ZVUGKTUBM wrote:
Hey, if you move to Belize, they have been trying to implement a National Health Insurance program since 2003.
http://health.gov.bz/www/health-projects/national-health-insurance

I don't know their program compares to Obamacare, however.

Yeah my buddy is all for it. I think it would be easier in a country of that size not to mention not as many dead beats living off the govie dole. They have their own issues though.

TEOTWAWKI

TEOTWAWKI

PkrBum wrote:I've been kinda thinking the same thing teo... i don't know what i want to do. I've been trying to play tennis tourns... but i might've used up all of my miles on this body. I'm bored... i need an adventure or a project.

My son is trying to talk me into Panama with him...I told him I don't trust the government down there. As things are going I may be having second thoughts.

ZVUGKTUBM

ZVUGKTUBM

TEOTWAWKI wrote:
PkrBum wrote:I've been kinda thinking the same thing teo... i don't know what i want to do. I've been trying to play tennis tourns... but i might've used up all of my miles on this body. I'm bored... i need an adventure or a project.

My son is trying to talk me into Panama with him...I told him I don't trust the government down there. As things are going I may be having second thoughts.


You can always follow the Bush neocons down to Paraguay. Here are some real estate listings down there:

http://www.glo-con.com/region_directory/country/PARAGUAY/real_estate/Y/

http://www.best-electric-barbecue-grills.com

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