Author Topic: Preparedness as a Retirement Plan  (Read 98006 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
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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.
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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.
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