Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Two questions for the retired.
Old 04-21-2011, 12:34 AM   #1
Confused about dryer sheets
 
Join Date: Apr 2011
Posts: 7
Two questions for the retired.

1. What's the one thing that you did in preparation for your retirement that you are all so glad you did?

2. What's the one thing that your kicking yourself in the butt wishing you'd of done it before retiring?
__________________

__________________
El Sargento is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 04-21-2011, 02:28 AM   #2
Recycles dryer sheets
 
Join Date: Jul 2010
Location: Torrance
Posts: 112
I have ten weeks to go but I have an answer for #1 - I am sooo glad I have devoted the last year to a self-paced financial education. Mostly by reading this board and Bogleheads and the books both recommend. I went from a position of complete ignorance to today's state of semi-ignorance.

I cringe at what many contemporaries are doing such as blindly trusting financial advisors who extract 1%+ anually from their portfolios
__________________

__________________
bob boag is online now   Reply With Quote
Old 04-21-2011, 03:19 AM   #3
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,076
1. - hung on to my Megacorp job long enough to ER with retiree health benefits at age 55. Great peace of mind even with the knowledge that it might be taken away in future.

2. - 15 months into ER and I haven't come across anything I wish I'd done in preparation.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is offline   Reply With Quote
Old 04-21-2011, 05:43 AM   #4
Full time employment: Posting here.
 
Join Date: Dec 2010
Posts: 746
Quote:
Originally Posted by El Sargento View Post
1. What's the one thing that you did in preparation for your retirement that you are all so glad you did?

It's not "one thing".
  • Worked for a megacorp that offered pension and retiree health care.
  • Saved and then saved more.
  • Always planned on retiring at 55, so I was mentally and financially prepared when the time came.
  • Lived below my means
  • Avoided debt like the plague
Quote:
Originally Posted by El Sargento View Post
2. What's the one thing that your kicking yourself in the butt wishing you'd of done it before retiring?
  • Wish I would have had put more of my 401K into taxed instead of deferred (we had that choice).
__________________
East Texas is offline   Reply With Quote
Old 04-21-2011, 06:43 AM   #5
Thinks s/he gets paid by the post
 
Join Date: Feb 2008
Location: Indialantic FL
Posts: 1,196
1) Leave when I did.

2) Wish I had more cash vs investments in my taxable accounts.
__________________
JimnJana
"The four most dangerous words in investing are 'This time it's different.'" - Sir John Templeton
jimnjana is offline   Reply With Quote
Old 04-21-2011, 07:04 AM   #6
Thinks s/he gets paid by the post
 
Join Date: Nov 2009
Posts: 3,855
Quote:
Originally Posted by El Sargento View Post
1. What's the one thing that you did in preparation for your retirement that you are all so glad you did?

2. What's the one thing that your kicking yourself in the butt wishing you'd of done it before retiring?
I will interpret your questions as doing something or not doing something intentional in preparation towards retirement as opposed to simply "lucking out" or being unlucky.

As to your first question, I would say the lengthy research to find the bond fund which is now generating the dividends I use to pay for my expenses. This fund was fairly new at the time but I carefully tracked it and was able to gather some back data points so I could get a good idea as to the amount of dividends it was generating. I also made sure to get some costly dental work done in 2007 and 2008 in anticipation of losing my dental insurance coverage once I stopped working at the end of 2008. I figure this saved me about $1,500, not a huge amount in the grand scheme of things but not trivial, either.

As to your second question, I wish I had done a little more research into a particular individual health insurance plan. It is more of a catastrophic plan, I have since realized, but I did not realize that until a few months ago. I have just switched to it after my previous plan raised its premiums 50% in the last 2 years.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
scrabbler1 is offline   Reply With Quote
Old 04-21-2011, 07:22 AM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 8,634
Quote:
Originally Posted by jimnjana View Post

2) Wish I had more cash vs investments in my taxable accounts.
Why there rather than in qualified?
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is offline   Reply With Quote
Old 04-21-2011, 07:42 AM   #8
Full time employment: Posting here.
 
Join Date: May 2007
Posts: 530
1. I'm glad I paid off the mortgage. I know this is a subject of debate, but for me it gives me peace of mind that I can live on a relatively small income now.

2. There are a couple of home improvements I wish I'd done while I was still making good money. I'm a little reluctant now to spend the money, although I am fairly certain I will do it in time.
__________________
ksr is offline   Reply With Quote
Old 04-21-2011, 07:44 AM   #9
Full time employment: Posting here.
 
Join Date: May 2007
Posts: 530
Quote:
Originally Posted by scrabbler1 View Post
As to your second question, I wish I had done a little more research into a particular individual health insurance plan. It is more of a catastrophic plan, I have since realized, but I did not realize that until a few months ago. I have just switched to it after my previous plan raised its premiums 50% in the last 2 years.
Scrabbler, would you mind elaborating a bit on the catastrophic plan? I am thinking of making a switch as my premiums have also increased 50% over about the past 3 years. I'm looking at higher deductibles with lower premiums, but also have to factor that none of the higher-deductible plans available to me are eligible for an HSA.
__________________
ksr is offline   Reply With Quote
Old 04-21-2011, 08:08 AM   #10
gone traveling
 
Join Date: Apr 2009
Location: Eastern PA
Posts: 3,851
For me? As an answer to #1, I would say:

- Having a life partner that shared my financial "dream", which not only saving/investing for retirement, but also generally agreeing to a LBYM lifestyle.

- A personal goal (driven by my late father). He didn't give a damn about his family, but only to satisfy (through whatever means) his personal "desires". I strove to do better. I found that taking care of my family drove me to ensure our financial independance, which in turn lead to a retirement at an earlier age than most. Not ER, but at age 59, better than most of the folks I wor*ed with.

#2?

Sorry to say that I have no regrets as pertaining to retirement preperation. Even though I've been retired only four years, I have no second thoughts nor to I think I could have done anything "better" (yes, I'm lucky).
__________________
rescueme is offline   Reply With Quote
Old 04-21-2011, 08:13 AM   #11
Thinks s/he gets paid by the post
grumpy's Avatar
 
Join Date: Jul 2004
Posts: 1,321
1. Refinanced with a 15 year mortgage to have house paid off before I retired.

2. Retiring even earlier.
__________________
...you can check out any time you like, but you can never leave...
grumpy is offline   Reply With Quote
Old 04-21-2011, 09:39 AM   #12
Thinks s/he gets paid by the post
Rustic23's Avatar
 
Join Date: Dec 2005
Location: Lake Livingston, Tx
Posts: 3,624
1. Tracked expenses three years prior to retiring
2. So far (5 years) I have not come up with anything.
__________________
If it is after 5:00 when I post I reserve the right to disavow anything I posted.
Rustic23 is offline   Reply With Quote
Old 04-21-2011, 09:55 AM   #13
Recycles dryer sheets
Beryl's Avatar
 
Join Date: Jun 2007
Posts: 413
Quote:
Originally Posted by ksr
1. I'm glad I paid off the mortgage. I know this is a subject of debate, but for me it gives me peace of mind that I can live on a relatively small income now.

2. There are a couple of home improvements I wish I'd done while I was still making good money. I'm a little reluctant now to spend the money, although I am fairly certain I will do it in time.
What s/he said.
__________________
Retired - Class of 2011
Beryl is offline   Reply With Quote
Old 04-21-2011, 11:49 AM   #14
Full time employment: Posting here.
 
Join Date: Dec 2010
Posts: 746
Quote:
Originally Posted by rescueme View Post
Having a life partner that shared my financial "dream", which not only saving/investing for retirement, but also generally agreeing to a LBYM lifestyle.
Yep. Should have put that on my list.
__________________
East Texas is offline   Reply With Quote
Old 04-21-2011, 11:55 AM   #15
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 2,423
1. We repurchased 5 years of service credit in DH's pension system so that a couple of years later when he lost his job he had 26 years (eligible for pension) instead of 21 years (not eligible). In 1981 he had cashed out the 5 years in order to pay for graduate school.

We also paid off all debt (mortgage, cars, credit cards, student loans) which makes our monthly cost of living low.

2. Raising kids, living on one income, we deferred a lot of home maintenance and repairs. We're slowly getting caught up but I wish we would have already remodeled the kitchen. It's functional and the appliances are current enough but it really needs a ceiling to floor renovation. I know from watching home renovation shows that a kitchen can start out at one estimate and end up costing double. I don't have fancy taste but when we do it I want to do it right. And who knows what we'll find in terms of electrical and plumbing that leads to extra costs.
__________________
Married, both 62. DH retired June, 2010. I have a pleasant little part time job.
Sue J is offline   Reply With Quote
Old 04-21-2011, 12:01 PM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
freebird5825's Avatar
 
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,017
1. Everything.
I had to shift from Plan A to Plan B in very short order when my husband passed. Plan B included ramping up my contributions to my TSP 401(k) and being faster on my feet than I had anticipated. It was tough, but I got through it all and came out shining.

2. No regrets.
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
freebird5825 is offline   Reply With Quote
Old 04-21-2011, 12:02 PM   #17
Thinks s/he gets paid by the post
 
Join Date: Jan 2011
Posts: 1,207
I'm not retired yet, so for what it's worth:
1) Always lived by a budget, ergo LBYM.
Never paid a cent in credit card interest, but do use my credit card to get the substantial rebate $$.
Paid off my mortgage 2 + years ago.
Like another poster, I've been reading and researching retirement issues (my target is 16-24 months from now).
[I suspect some members may disagree with this one] We have not scrimped up to now, and make sure to take a nice vacation,often two, each year.

2] N/A for me, at this point [sigh]
__________________
mystang52 is offline   Reply With Quote
Old 04-21-2011, 12:06 PM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
kcowan's Avatar
 
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 5,705
Send a message via Skype™ to kcowan
1) Passed up numerous lucrative job offers because they did not offer a pension plan. Took my reduced DB pension on special golden handshake at age 49. Payouts total over $1 million and counting.
2)Cancelled my whole life insruance policies sooner and invested the proceeds plus the ongoing annual fees for our benefit.
__________________
For the fun of it...Keith
kcowan is offline   Reply With Quote
Old 04-21-2011, 12:10 PM   #19
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,824
Quote:
Originally Posted by El Sargento View Post
1. What's the one thing that you did in preparation for your retirement that you are all so glad you did?
It's a toss-up and I can't decide - -

1) I'm glad that I waited until I was eligible for retiree health insurance even though I could afford to retire earlier.

2) I'm glad that I took all of my vacation time during the last few months of w*rk instead of cashing it in, because it really eased the emotional transition into retirement.

3) I'm glad that I paid off all my debt so that I could retire debt free.

Quote:
Originally Posted by El Sargento
2. What's the one thing that your kicking yourself in the butt wishing you'd of done it before retiring?
Absolutely nothing. I have more time now than before retiring, and I have more money to spend because I am not saving for retirement. So if there was anything in this category I'd do it now. But there isn't.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 04-21-2011, 12:23 PM   #20
Dryer sheet wannabe
 
Join Date: Dec 2010
Posts: 21
There is a long way to go for us (DW and I) considering we've just out lived our 20's. Also, we live in India so our situation is different i.e. we don't have any social security or pension in our country. So we've have been working towards our ER for the last 6 years or so and the one thing that we are so glad about is that we already have a house and a car paid off. We have two more mortgages going on which we plan to pay off in 2 years time. We already have our emergency funds set aside about $12K (which comes to half a million in local currency) and we keep it growing with inflation. We have our own life and health insurance (we don't want to depend on employer's insurance). Once we pay off all the debt, we would have about 15 years to build our retirement nest so I can retire at 50!! DW is already a HW!

Keeping our fingers crossed and we have no regrets so far!!
__________________

__________________
mask is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
25 and on my way... but a few questions, please. dpruitt85 Hi, I am... 6 03-13-2011 01:30 AM
Hi I am Retired for 20 years and still have questions… coachjerry Hi, I am... 0 02-24-2011 02:40 PM
26 y/o with a few questions to get it right!!! rdy4retirement Hi, I am... 2 01-21-2010 08:18 AM
Semi-Retired --> Retired ferco Life after FIRE 8 08-20-2009 06:08 PM
Questions Tiger Forum Admin 2 05-23-2007 12:07 PM

 

 
All times are GMT -6. The time now is 11:37 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.