Retirement preparation

[Box of frogs]

I’d like to hear everyone else’s opinions on prepping for retirement.
A lot of the members on this board have already stopped working. What types of things are you glad you did, what would you do differently if you had a second chance, and what did you do that you probably didn’t need to do?

I’m not so much interested in the base preparation things, I have food, ammo, water.
I read a lot about the topic and sometimes it seems like bullshit.
5 million in the bank per one lady on the internet seems extreme.
Living on social security only is the other extreme

Appreciate you input
BoF

[Inor]

I’d like to hear everyone else’s opinions on prepping for retirement.
A lot of the members on this board have already stopped working. What types of things are you glad you did, what would you do differently if you had a second chance, and what did you do that you probably didn’t need to do?

I’m not so much interested in the base preparation things, I have food, ammo, water.
I read a lot about the topic and sometimes it seems like bullshit.
5 million in the bank per one lady on the internet seems extreme.
Living on social security only is the other extreme

Appreciate you input
BoF

The only advice I am qualified to give is this:

BE DEBT FREE AS EARLY IN LIFE AS HUMANLY POSSIBLE!!! Anything after that is 100% gravy.

Any debt at all (mortgage, car loans, student debt, etc.) is slavery. The "smart people" differentiate between "good debt" (debt taken out to make money) and "bad debt" (debt taken out to spend more than you make). In my world, ALL debt is bad debt!

[Ricekila]

I / We were lucky in that when we sold the house -- wifey paid off everything ( not that there was that much to begin with ) but she kept one credit card --- that we owe just about nothing on ----------- now just medical bills --

[Modfan]

I got 5 or 6 more years before I can retire. The plan for right now is to crank as much into mine and the wifes 401k to get the company match. I have it all set at the most conservative. We are looking for a couple acres in eastern Oklahoma we can buy and pay off in 5 years. In this process put in a septic system and two wells. One for water and one for geothermal. After this we will decide on either shipping containers or pole barn. After, I retire we sell the house were in and take the equity and payoff anything we have left on the new house.

[Chiefster23]

Before retiring I made sure everything was paid off completely, including the cars. Having any kind of big debt payment in today’s world scares the shit out of me.

[Prepared One]

MG and I are debt free. That was our plan when I left Katy. Everything is paid for and our money is ours. Give to me Mr. G-man, all the money you stole from me and her all these years, and come to me no more.

[MountainGirl]

My retirement plan has always been to be able to live on SocSec only,
which meant living as small and simple a life as possible, staying debt free.

In my many lives, I've been very rich and very poor - and enjoyed them all, lol,
and always able to slide back into a simple life, if & when needed.

Thinking more on this - what made all that ^^ possible - is I thrive on having very few possessions.
Everything you own, owns you. If I had a mantra it would be: Keep cool, travel light, stay low.

Now, that's not everyone's nature - but it is mine.

[hawgrider]

I'm on a 40 year pension and social security.

I'll let you know how that works out after I find a house in this jacked up housing market.

[1skrewsloose]

That reminds me of the saying, "he who dies with the most wins". wtf, wins what?? @MG

[SOCOM42]

Myself, I have been debt free since 2001, that you need to be.

Gun work and SS is what we live on here, plus my daughters art commissions.

Thing with me is that I never even considered saving for retirement at all.

I thought I would be dead before then, based on family mortality.

I had a lot of money saved and plenty coming from my shop.

The change came from having another wife and kid, needed to provide for them.

I was 20 years older than my wife, needed to provide for them and coming of another new kid (later miscarried).

That all blew up and the money was gone, all behind my back.

The only thing I owe today and have had for 22 years is for the property taxes, general living expenses.

What you can base yours on is how much you cannot stop yourself from pissing away every month.

I still have some money saved but it is not used, only for emergencies.

I have well into six figures with the machineguns and regular ones, that is for the kid to have.

I spend virtually nothing on myself, don't care to, if I want something I will get it.

My last frivolous expenditure was for an electric PEX clamp crimper for $200.00?

Still have not played with or used it yet, time is coming.