10-09-2013, 10:43 AM
31
Re: What's It Take To Retire Comfortably?
Originally Posted by Curmudgeon
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The worst thing is having settled into your rut and managed to sort out your affairs so that you are self sufficient and not a burden on anyone, is to then see your children and even grandchildren struggling with the Countries economic and employment difficulties.
11-09-2013, 12:44 PM
32
Re: What's It Take To Retire Comfortably?
Lot's of money so one can continue with their present or expected lifestyle. Money should be positioned so you can draw off 4-5% a year and continue to grow your principle. You need to figure out how much yearly income you need. Figure in pensions and Social Security.. and then figure how much money you need in savings to meet your needs.. or wants.. easy peasy...
11-09-2013, 01:51 PM
33
Re: What's It Take To Retire Comfortably?
That's fine and that's what I tried to do, but growing your principle while drawing down 4 - 5% annually is not easy at present.In the UK, most savings accounts only yield a few percent. I've gone for FTSE based equity bonds which I bought at the bottom of the market.
I think that you will have to use up some of your savings until all your pensions are coming in. If you've planned reasonably well and had a bit of luck, your pensions and investments should keep you going and your remaining savings will form a safety net.
11-09-2013, 02:02 PM
34
Re: What's It Take To Retire Comfortably?
Originally Posted by Grumblewagon
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That's fine and that's what I tried to do, but growing your principle while drawing down 4 - 5% annually is not easy at present. In the UK, most savings accounts only yield a few percent. I've gone for FTSE based equity bonds which I bought at the bottom of the market.
I think that you will have to use up some of your savings until all your pensions are coming in. If you've planned reasonably well and had a bit of luck, your pensions and investments should keep you going and your remaining savings will form a safety net.
11-09-2013, 02:21 PM
35
Re: What's It Take To Retire Comfortably?
Originally Posted by bobmielke
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Losos: One of my hobbies in my past was woodworking. I used to make anything out of wood such as furniture, coat & hat racks, Bathroom & kitchen goodies like spice rack, towel bars, medicine cabinets & light fixtures. The hobby was very fulfilling but has to be a thing of the past now because of where I live.
If you have the feel for wood, and a good eye, should be no hardship to you.
I think a good hobby is essential, I started out by fitting out a complete workshop, but because of heart and RA problems, turned to a bit of photography.
Not much fun getting old, my birthday is 9/11 not a good day to remember, but one we should never forget.
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