Author Topic: Preparedness as a Retirement Plan  (Read 133126 times)

Offline Applejack

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Re: Preparedness as a Retirement Plan
« Reply #210 on: January 18, 2018, 03:09:32 PM »
Glad to hear you're doing alright, AppleJack.

My wife and I lost our jobs due to restructuring in November. If our house wasn't paid off, we would be in big trouble.
We don't have a garden or any sort of livestock yet. Just never had the time with working 50+ hours a week plus 1.5 hour commute each day.
But we're not going to make that mistake again. I'm not risking my health at another job unless it's to save someone's life.

We're not completely sure what we're going to do just yet, but we're focusing on self-employment.

If you can get into doing something self employment wise that would be great. I know several people that have done it and it worked out great for them. Best of luck to you and yours
AJ

Offline LvsChant

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Re: Preparedness as a Retirement Plan
« Reply #211 on: January 21, 2018, 07:43:57 PM »
Sorry to hear about the job losses, CdnGuy. I hope things get better for you very soon. And... you've just proved what a great idea it was to get your homestead paid for! Since it is time for planning a garden, you could start one this year with the extra time you have (at least for now).

As for planning for retirement, I'd say getting everything paid off will get you going in the right direction, Porcupine. Then, I'd start socking away savings for your retirement nest egg. You probably have 401ks, etc. already going... there are some nice threads on the forum about investing you might consider checking out. David in MN has some good things posted...

Offline Applejack

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Re: Preparedness as a Retirement Plan
« Reply #212 on: February 10, 2018, 08:12:10 PM »
Glad to hear you're doing alright, AppleJack.

My wife and I lost our jobs due to restructuring in November. If our house wasn't paid off, we would be in big trouble.
We don't have a garden or any sort of livestock yet. Just never had the time with working 50+ hours a week plus 1.5 hour commute each day.
But we're not going to make that mistake again. I'm not risking my health at another job unless it's to save someone's life.

We're not completely sure what we're going to do just yet, but we're focusing on self-employment.

Hope all works out for you guys. It can be tough but I know things can work out for the better. Best of luck to you guys. Prayers are with you. Get that garden going and start canning. It will be a life saver with grocery bill.

Offline Applejack

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Re: Preparedness as a Retirement Plan
« Reply #213 on: February 10, 2018, 08:29:15 PM »
PorcupineKate,  When my husband had to retire, he got a fanancal planner and took all his retirement out of his four O one plan. We have stayed very conservative with the investments and receive 4 checks a month. I am also now retired. We both have Social security which is great but try not to be depended on it. (gotta love our government). He did this because if he passed on, I would only have gotten half of that retirement. The company would keep the other half. So this was to protect me. We have lived off of that retirement now for the past 15 years. And yes it is less than getting a weekly pay check but we have lived very comfortable on it. You might want to talk with a good fanancil planner. If you can find a good one he or she could stir you in the right direction. Just try to stay conservative in what you invest in. I would never play the stock market. Don't trust it. You can loose a bit even with being conservative but you also can regain it quicker. We have past what we invested in and close to doubled what hubby had in the four o one  plan at his work. This has been over a 15 year period for us and we have done well with it. The amount of money you get is from interest and is set for how long you might live. My husband is now 80 years old and I am 67, so it was set up based on me living to be about 85 but the money will still last past that age.

Offline CdnGuy

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Re: Preparedness as a Retirement Plan
« Reply #214 on: April 03, 2018, 03:49:00 PM »
Sorry to hear about the job losses, CdnGuy. I hope things get better for you very soon. And... you've just proved what a great idea it was to get your homestead paid for! Since it is time for planning a garden, you could start one this year with the extra time you have (at least for now).

Hey LvsChant, we are already planning on that. It's Canada, so we're at the seed starting stage only. My wife is going to go back to school in the fall to get her chef papers and food services management diploma, so that's one of us taken care of. I'm still figuring things out.

I've found the IT world to be the most abusive, stressful, industry to work in. Fast food was better, security was better, military was better, trades in the oil patch was better. IT? I'm exhibiting all the clinical symptoms of PTSD. I get the runs and anxiety attacks that feel like a heart attack just looking at job postings in IT. Then I have nightmares that night about all the crap that has happened to me. I'd rather get shot at.

I want to get out of it. I feel I need to get out of it for my health. So that's something I have to figure out, I guess. Just rambling. Not many folks to talk with in my neck of the woods.

Offline LvsChant

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Re: Preparedness as a Retirement Plan
« Reply #215 on: April 06, 2018, 05:29:16 PM »
Perhaps you can use your skills in some sort of business of your own? Your description of work in the IT field sounds truly horrible. I'm glad you are re-assessing your options and looking at making a change... stress is a killer.

Sometimes good things pop up when you are open to a new opportunity... when you are already employed, you don't typically look out at what else might be there, so maybe this is the change you needed...

Wishing good things for you...

Offline archer

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Re: Preparedness as a Retirement Plan
« Reply #216 on: April 06, 2018, 11:27:03 PM »
IT, no one hears about the work you do until something goes wrong, then they blame it on you (even i you did not do it) and expect you to fix it now for free.

Offline CdnGuy

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Re: Preparedness as a Retirement Plan
« Reply #217 on: April 07, 2018, 01:02:30 PM »
Perhaps you can use your skills in some sort of business of your own? Your description of work in the IT field sounds truly horrible. I'm glad you are re-assessing your options and looking at making a change... stress is a killer.

Thanks LvsChant. I'm looking at pivoting into the energy sustainability field. Looking into how to do that right now. I may go back to school. At almost 50, that's scary, but I'm sure I'd be a better student now than 30 years ago.

Offline CdnGuy

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Re: Preparedness as a Retirement Plan
« Reply #218 on: April 07, 2018, 01:12:50 PM »
IT, no one hears about the work you do until something goes wrong, then they blame it on you (even i you did not do it) and expect you to fix it now for free.

Exactly.

It's even worse when you keep telling management that the equipment is going to fail soon and could shut the business down for weeks and they don't believe you.
Then things start breaking down and they think that you're making it break to try to prove your point.

Or you show them how for $20 per store per month, you can make sure they can stay open even if the network goes down. They say that's too much. Internet goes down for an hour and they complain about how they lost thousands. So you say you can make it so that never happens again for $20 per store per month. They say that's too much. Lather, rinse, repeat.

It's a form of gas lighting really.

We'll give you none of the tools, training, or authority to do your job, but if you fail, it's all your fault.

I know this happens in other fields and at lots of workplaces. I'm not the only person this happens to, I just have a knack for finding those workplaces.

Offline banjobrain

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Re: Preparedness as a Retirement Plan
« Reply #219 on: February 04, 2020, 07:00:48 AM »

Nowadays. with retirement plans tanking and pension funds bleeding out, we may find ourselves without the ability to retire once again. However, this time, we won’t have the farm to feed us and the multi-generational home to keep us occupied and close to our loved ones. If we’re very fortunate, we may be able to find a spot in a retirement home and sell our current homes to pay for it.

Me, I have a different plan. My plan depends on me getting prepared to take care of myself and my wife for as long as we are physically able. If my plan works, we’ll also be able to ‘retire’ early. That plan is preparedness.

I *just* posted about what "retirement" means to us.

Look forward to reading through this thread as well. 

Offline CdnGuy

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Re: Preparedness as a Retirement Plan
« Reply #220 on: February 04, 2020, 05:07:06 PM »
Look forward to reading through this thread as well.

Thank you, I hope it brings you some joy and sparks some ideas.

I wrote the original post 11 years ago. It amazes me that people still find it and appreciate it. It's humbling.

Offline CdnGuy

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Re: Preparedness as a Retirement Plan
« Reply #221 on: February 04, 2020, 05:31:55 PM »
I just went back and read that original post. It was a little bit of time travel. 10 years ago I had just started doing my own podcast and working hard towards the retirement plan. Then life happened. A lot of life happened. We survived, my Sweetie and I. We still have the farm and it's paid for, but there's still a lot of work to be done.

Last time I checked in, we had just been downsized by our employer. I was headed to college for an energy sustainability diploma, but an IT job came up. A friend worked there already so I had some insight into the company culture. I vetted this company like I was going to buy it. There's no way I was going to walk into something like I'd just came out of. I talked to people in the area and in the industry. No one had anything bad to say about them at all.

Then I went to the interview.

I felt like I was talking with old friends. Next thing I knew, over 2 hours had passed. Well, I got the job. It required us to move, but it was a move to an area we had already been planning on moving to. Sweetie will graduate in about a month or so and is on track to be the top of her class. I had no doubt. She could always outcook most people, but now she is truly hitting chef level.

The plan is still the same...sort of...

Now we're moving toward getting some land, growing vegetables, light livestock, and stocking a pond with fish. But, we're planning on building a small restaurant too. Very small, reservation only.  It'll take us about 5 years to get to that, so we're about 10 years behind on the retirement plan. We'll run the restaurant during spring, summer, and fall and mostly close it in the winter. Except maybe special occasions or if someone wants to book the whole place for an event.

The winter will be for us. She'll work on her menu and plans for the next season, I'll work on my writing and such, and we'll hopefully do some traveling. Just thinking about that brings my soul some peace.

Some hurricane-level life winds blew us off course twice, but we managed to not capsize. Now we're correcting course and getting underway again. Survival is an attitude and the first rule of survival is don't die.

Offline banjobrain

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Re: Preparedness as a Retirement Plan
« Reply #222 on: February 05, 2020, 06:04:26 AM »
I wrote the original post 11 years ago. It amazes me that people still find it and appreciate it. It's humbling.

Absolutely - good content begets good content and good content is timeless.

I've been a member of these forums for 8 years (though dark for many of them)...

...and am just now discovering gems such as this hidden within the depths of the forums here.

There's much to be said for internet forums vs social media and other forms of online "stuff."

How the time flies!  Regardless, I'm very grateful this platform exists in the way it does.

It provides us the opportunity to do all that we are doing, and the potential to do so much *more*.