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View Poll Results: Do you have any of the following?
Military pension 14 6.42%
Other federal or state pension 67 30.73%
Private company defined benefit pension 75 34.40%
None of the above 82 37.61%
Multiple Choice Poll. Voters: 218. You may not vote on this poll

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Old 06-09-2012, 07:23 PM   #61
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Originally Posted by W2R View Post
That is a very good point. I think the 90's would have been terrific, too. However the point of my post kind of got lost in thread drift, I suspect so I quoted it to make sure we are talking about the same things. I was talking about times during which people thinking of retiring might have been reluctant to retire, not about what actually ended up happening during their subsequent retirement, just to be clear.

I think it would have taken a lot of guts to retire in the 1980's, because a potential retiree wouldn't know the future and wouldn't know if this inflationary period was nearly over, or if inflation was just beginning to ramp up before really taking off to the moon. Granted, yields were higher at that time, but the future of our economy seemed uncertain and as in most things in life, there was no guarantee that yields would remain permanently high. Besides, by the time one gets these yields they might not be worth much if they were eaten up by runaway inflation that we kept hearing about in the media at that time. The gas lines of 1979 were still fresh in everyone's mind as well. So these are some of the reasons why I think it would have taken guts to retire in the early 1980's. YMMV but I felt a lot better about retiring in 2009 than I think I would have felt retiring in 1980-1981, for example.
I think you are making a good point here W2R. I recall interview comments by both Buffet and also Templeton (now passed away) that suggested more inflation might lie ahead.

Right now we see plenty of pessimism. Quite different then the year 2000 turn of the century views.

We may be in a "whee..." moment here regarding equities.
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Old 06-09-2012, 07:37 PM   #62
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Originally Posted by Danmar
The pensipn is very large ( mid 6 figures) and will represent about half our spending. .
Wow. Congratulations!

No pension here, just my portfolio, which includes equities, fixed income, rental properties and precious metals. And about 40% of that came from an inheritance. Without the inheritance there would be no possibility of ER for me.
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Old 06-09-2012, 08:00 PM   #63
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Pretty soon there won't be such a thing. Maybe it will get better, but I feel sorry for my grandkids. I think I'll write them a joint letter explaining how we got to where we are and what they will have to do for themselves to protect their interest for the future.
I think pensions are yet another artifact of the 20th century.

I bet your grandparents (and my great-grandparents) thought pensions were for sissies...
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Old 06-09-2012, 09:15 PM   #64
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I think pensions are yet another artifact of the 20th century.

I bet your grandparents (and my great-grandparents) thought pensions were for sissies...
I can only speak for my fathers side of the family. Both my father and his father worked for the same company and both retired with pensions. I'm not sure if they contributed to those pensions but I would say no. My father retired after working for that company for 47 years and got about $900/month pension. That plus SS got my folks through for 26 years of retirement, not bad for a couple of people that new nothing about investing except for CD's. I think the thing that got them through was the fact they were a cash only couple. Never did anything on credit.

Mulligan, real estate investing got us to where we are. In the last couple years before I retired, we bought a six unit apartment. Upon retirement, both DW and I had real estate licenses so we dabbled in real estate for a couple years. Bought more then we sold. Rented them out and eventually sold them on land contracts at 11% interest. Many times a buyer wanted to purchase a house but had to sell theirs first. We would buy it on the spot, got the commission on the sale and then rented that house out. Made money on the rent and eventually resold that house at a profit, made money on the contract and later got cashed out by some other buyer of that property.

If we had to do it all over, the only thing I would change would have been to buy more real estate. I still think it's the best investment in the world. From what I read now about real estate, renting will be the thing in the future. To this day, I still think about picking something up for $50-60k, fixing it up and renting or reselling. Carry the mortgage myself. But, I'm too old to go through all that and my business now is to enjoy the rest of my life.

Mulligan, I do have a pension from GM but not COLA'd. Been drawing it since 1988.
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Old 06-09-2012, 10:18 PM   #65
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If we had to do it all over, the only thing I would change would have been to buy more real estate. I still think it's the best investment in the world. From what I read now about real estate, renting will be the thing in the future. To this day, I still think about picking something up for $50-60k, fixing it up and renting or reselling. Carry the mortgage myself. But, I'm too old to go through all that and my business now is to enjoy the rest of my life.
I think it's interesting that some people are cut out to be landlords, and the only exit strategy of most landlords seems to be probate. Once in a while I still feel like scooping up a rental bargain or two, and I should be old experienced enough by now to know better.

Other people are cut out to be homeowners or renters... but not landlords.
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Old 06-09-2012, 11:01 PM   #66
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I think pensions are yet another artifact of the 20th century.
......like child labour laws.

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I bet your grandparents (and my great-grandparents) thought pensions were for sissies...
My great-grandfather died in a mine accident and my great-grandmother was very thankful for the widows pension she received which was a benefit that was hard won by the union and reforms enacted by the Liberal party.
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Old 06-10-2012, 07:01 AM   #67
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No pensions for us--->we eat what we kill
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Old 06-10-2012, 07:15 AM   #68
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I think it's interesting that some people are cut out to be landlords, and the only exit strategy of most landlords seems to be probate. Once in a while I still feel like scooping up a rental bargain or two, and I should be old experienced enough by now to know better.

Other people are cut out to be homeowners or renters... but not landlords.
How true that is Nords. It's not for everyone. Worked for us.
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Old 06-10-2012, 12:36 PM   #69
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Just having a little fun with this, not criticizing or anything, but if I had a self sustaining nest egg, and was a very conservative investor, I would think that the 80s were the perfect decade for retirement. Double digit inflation was broke, but CDs and govt. bonds stayed stubborningly high, above the CPI. Kind of the opposite of today in a way.
My Dad did this. He retired in 1985 at age 59.5. He and Mom lived off the investments and later added the SS income. They kept their cost of living low and were comfortable enough.

He's 86 now and when Mom died last year he lost her SS income and his expenses have skyrocketed due to medical costs and paying out of pocket for a home health aide while he recovers from a broken hip. I think this is probably the first time in his adult life that he has not been able to live below his means.

It's the old "the last 5 years are the most expensive" concept.
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Old 06-11-2012, 02:47 AM   #70
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No military pension, no federal or state pension, no SS, and no inheritance for me. Just a relatively small pension (less than 10 years working in the US). All the sources of income will come from private investments from age 47 to 95. Wish me luck.
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Old 06-11-2012, 07:52 AM   #71
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Pension w/small cola, savings, deferred comp, IRA, 401k, and SS in 2 years. I also have retiree health insurance paid for by employer. Lucky, I know.
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Old 06-11-2012, 02:57 PM   #72
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I have a public pension that has an annual COLA of 3% of the original, first year amount. It is currently just a few bucks shy of $3,000 per month. That far exceeds my monthly expenses. I also have two IRA's, a Roth IRA, a bunch o' CDs, and a savings account. Plus I'll have SS to add to the mix. I pay 25% of the monthly premium to stay on my former employer's health & dental insurance plan, which also has prescription coverage. It will become secondary coverage when Medicare kicks in.

(BTW, this public pension plan is quite healthy, very well funded, and wisely invested. It also doesn't depend on any money from the State budget. It's run by Trustees elected by participating employers, employees, and retirees....and NOT by politicians!)
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