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Joined:
January 2006
Posts: 1486
Location: Michigan | I just wondered where most of you put your future retirement moneys at.I am 53 years old and I am trying to get out at age 56.
I have some in the stock market and I am starting to really get nervous about that being there in another 5 years.
I have some CD's a Roth IRA and a 401k and a profit sharing program from work that is big right now, but it is all invested in the market.
Whats your opinion on a safe bet to financialy make it to retirement?
I would like to hear some of your peoples ideas on it and what you are doing about it to get there.GWB
CD,s / Annuities
Real Estate
Antique Cars / Boats / Guitars
Rental Homes
Stuff your money in your matress.
Never save enough to retire. GWB |
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Joined:
March 2002
Posts: 14842
Location: NJ | Do you play GUITAR at all???? |
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Joined:
June 2006
Posts: 7307
Location: South of most, North of few | The mattress thing sounds the safest. Seriously though, I was thinking about retirement, but I don't think I could not work at something. My job now is only as hard as I make it, so it's not an issue with me. I know I'm going to catch flack for this but you can only play so much golf and travel for a while, but if you just quit working, I would think life would get boring very soon. I'd sooner do what I'm doing than be a greeter at walmart for 8 bucks an hour. Even with unlimited funds, money can't buy happiness. (or enough guitars) |
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Joined:
January 2007
Posts: 672
Location: New South Wales, Australia | Retirement money :eek: :eek:
These two words are foreign to me. |
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Joined:
March 2005
Posts: 12761
Location: Boise, Idaho | Guitars, just bought a new (1996) boat that immediately cost $800 to get fixed, cabin and a 7 year old Porsche. With a kid in a private university, my retirement funds will only slowly appreciate, if at all.
Golf can take up a ton of time if you play as poorly as I do, so I don't think I'd get bored not working. |
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Joined:
September 2006
Posts: 10777
Location: Keepin' It Weird in Portland, OR | That is why I'm "learning to play guitar before I get too old"... (see my profile)
Y'know those old guys who play music on street corners? :D
In the Old "Barter System" Days, before paper money, if you could Tell-a-Tale or Sing-a-Song,
You would never Starve! |
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Joined:
April 2006
Posts: 2491
Location: Copenhagen Denmark | Y'know those old guys who play music on street corners? Oh Arthur ,saw me playing yesterday down on the corner did ya`..somebody did shout.."learn how to play,and do n`t sing ".. :)
Vic |
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Joined:
May 2004
Posts: 2850
Location: Midland, MI | The stock market operates on the greater fool theory. 'Nuff said. Well, almost. My wife's uncle, whom I trust explicitly for investment advice, told me a couple of years ago to move a large percentage of our investments overseas. He didn't make any specific recommendations, but just general "areas" to go to. Did so. The average gain I had on those last quarter was 29%+/-. The little left in the US was negative.
The last I looked into it, the USD had devalued nearly 40% in the last five years. Not a "GoodThing(tm)". But, I'm not an investment wiz, I just do what I'm told by people I trust. My wife always asks me, "Why do you care if the Fed isn't reporting M3 and you keep saying the money supply is growing? What's it to you?" I usually reply, "What's a gallon of milk go for on sale now? How about a loaf of bread?" I remember not so long ago when bread on sale (whole wheat, Hillbilly brand, IIRC) was $0.99. Now you're lucky if you can get it for $1.49 on sale around here. A lot of people don't grasp the notion that the money they have in passbook savings at 1.5% APR is actually *losing* value year over year. Despite my best efforts, my wife is apparently one of those people. I love her to death, though.
EDIT: Meant explicitly, not implicitly. |
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Joined:
November 2005
Posts: 1126
Location: Omaha, NE | I don't see ever retiring. I enjoy what I do too much, and its not like I'm pouring cement or something that I won't be able to do when I'm 75. |
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Joined:
April 2004
Posts: 13303
Location: Latitude 39.56819, Longitude -105.080066 | GWB..........
I do financial planning and asset protection for a living (my job! :D )
You have every reason to be worried about your retirement. I deal with people daily who have lost most or all of their "retirement money" (NOT MY FAULT! :p ) and have nothing left to live on. I help them to recover when possible.
Send me a pm or email with your phone number and I will be glad to offer up some sound advice (whether you agree or not will be up to you ;) ) |
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Joined:
September 2006
Posts: 10777
Location: Keepin' It Weird in Portland, OR | Yeah Cruster! In 1979, Minimum wage was $2.65/hr.
With that $2.65, you could buy a pack of smokes, a six-pack of Piel's Real Draft, and a Big Mac... And have change left from your $2.65! [I know, cuz I bought that daily on my way home from work]
A quart of Budweiser was 65 cents. A new Honda Rebel (250) motorcycle was $995. You could buy a new car for under 10K. (not a Great car, but you get my point)
Even though OR has a high minimum wage, you ain't buying all that now.
When I made $150 a week in the 70's, I made more money (more buying power) than I do now.
In the 70's, I could rent a house for $150/mo.
When my Mom talks about prices, I just tell her to knock a Zero off the price. A $250,000 house? Worth about 25K. $25,000 car? About $2199 back in the day. The reason why the price of Crude Oil fluctuates so much? Cuz it is tied to the US$.
Sorry about the rant, but y'all started it.
On the bright side... In real dollars, Ovations are getting more affordable. :rolleyes: |
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Joined:
April 2006
Posts: 1138
Location: CT | rE -tIr emE Nt ??? This word is foreign to me. |
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Joined:
January 2002
Posts: 14127
Location: 6 String Ranch | It's a wonderful word.
I always found it good to have 4 investment people who worked with me. I tell them all that I only want three so at the end of the year the poorest performer is history. It's worked reasonably well.
Put your money in the right guitars, of course this should have been done 10-20-30 years ago. Still a prewar Martin D-18,28,45; 58-9-60 Les Paul sunburst, a 50's maple neck strat or tele, those will always hold up well and more than likely increase in value. I've made quite a bunch on guitars over my 30 years, of course it all has gone right back into the herd and the big cash out won't come till I don't need the guitars anymore and that won't come till I can't breath anymore so.....
In any case this is all fun money, not to be confused with retirement money, that's what feeds you and for that get professional help. That's what they do for a living so find someone you trust, check on them every so often and go back to playing your guitars. |
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Joined:
January 2006
Posts: 5881
Location: Colorado Rocky Mountains | Stock portfolio is split 50% in global funds (mostly overseas), 25% blue chips and 25% small cap stocks. Hard assets are 95% US split 44% Ovation, 18% Fender, 18% Gibson, 9% Guild, 3% Gretsch, and 3% other. The other 5% is overseas. Amps are 75% US, all Fender, and overseas are 8% Genz, 8% Trace, and 8% Yamaha. |
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Joined:
May 2003
Posts: 425
Location: SE Michigan | I am no qualified expert, that being said, my 401k (with very limited choices) is about 30% fixed income (safe stuff), 30% international, 30% US small and midcap stuff, and 10% US large cap. I am not into bonds at all. They suck so bad I dont see the point in bonds when my fixed income fund consistantly earns 4.5% year after year.
The wife and I also have a couple of IRAs. These contain mostly international funds with some oil and energy funds and a bit of real estate funds.
I agree with what Cruster said about the US currency being devalued. That's why I am leaning more towards international, commodities, and real estate. The temptation lately is to move more of my 401k out of US stocks, but that would be selling at the bottom (been there - done that before). But as the market cranks up during the next election year (yes, I think it will come back nicely), I will continue to rotate out of US equities and more into international and commodities.
FWIW I have at least 10 to 15 years before I could seriously consider retiring. |
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Joined:
October 2005
Posts: 4081
Location: Utah | My retirement money is currently going to college tuition for the eldest and private school tuition for the younger two children.
My only hope is that the FAA extends mandatory retirement to age 65 from the current 60. Otherwise, on my 60th birthday I'll be at WalMart saying "Good Morning, do you need a cart?". |
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Joined:
September 2006
Posts: 10777
Location: Keepin' It Weird in Portland, OR | FlySig-- Good investment on the retirement funds. Wealthy children are the best investment (defense)!
Or at least that was the plan back in The Old Days. |
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OT.Where is your future retirement money at ?The stock market?