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Re: What's your Plan "B"?
Old 05-20-2005, 11:50 AM   #21
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Re: What's your Plan "B"?

Alas - it's true - perhaps JG or someone else can pick up the mantle and carry on. It's been downhill for a while now - but when the women took away my webtv and gave me a real computer last Christmas - I finally saw the handwriting on the wall - really miss tapping the keyboard on the floor to free up sticky keys.
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Re: What's your Plan "B"?
Old 05-20-2005, 12:18 PM   #22
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Re: What's your Plan "B"?

If push came to shove I could always sell the house and put a
double wide on my son's horse farm.

Cheers,

Charlie
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Re: What's your Plan "B"?
Old 05-20-2005, 12:52 PM   #23
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Re: What's your Plan "B"?

I have given a lot of thought to "what is my Plan B" since this was first posted a few days ago, and I've enjoyed reading the thread (most of which has been fairly light-hearted).

In truth, this is not a light-hearted issue, and I've concluded I don't really know what I'd do if Plan A (set to go in a year-and-a-half) doesn't work. I've played by the rules, LBYM'd it, and plan to downsize to a paid-off, comfortable home in a Texas "active adult" community. But, what if the stock market/ economy crashes? Or, if health insurrance becomes truly unavailable before Medicare kicks in? What is Plan B?

Given age discrimination (which is very real), poor market conditions, and my own lack of passion for a full-time job after I officially call it quits, I don't think going back to work in a significant way could be a real answer. That leaves, as someone else noted, "tighten the belt" and really LBYM -- and maybe help with odd jobs here and there. Or, dust off the law license I never used ...?

I don't like my answer, but realistically I see no other. There simply is no real Plan B.
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Re: What's your Plan "B"?
Old 05-20-2005, 01:06 PM   #24
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Re: What's your Plan "B"?

As I mentioned, without a debt load, a 'plan b' can be mowing lawns and walking dogs or 15 hours a week working the register at the quick-e mart to make enough cash to buy food and pay the electric bill. The value of my investments could drop to 1/2 cent on the dollar for 5+ years and it wouldnt faze me a bit.

It is well within our power as financially independent people to assure that independence indefinitely. Some people choose to gamble on various aspects of it instead.

This is right in line with my "some people make things happen, some people wait to see what will happen to them" mantra.
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Re: What's your Plan "B"?
Old 05-20-2005, 01:30 PM   #25
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Re: What's your Plan "B"?

I am not ERed quite yet, but part of my "plan B" is to have a healthy cushion of cash (at least $100,000) in a guaranteed savings account. That should enable me to ride through all but the wildest gyrations in the stock market.

In addition to this, I believe in a wide diversification in types of investments and assets, including but not limited to the ownership of physical precious metals.

A hobby or "ebay" type business might be a possibility as well. I consider garage sailing kinda fun.
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Re: What's your Plan "B"?
Old 05-20-2005, 01:38 PM   #26
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Re: What's your Plan "B"?

I am surprised with some of you for not planning ahead with a plan B... *I still have 8 to 12 years before ER, but I started plan B about 20 years ago...

I do not have any kids, but since my niece was 5 years old I would tell her that she would have to take care of me when I get old * I did not think much of it until last Christmas when she was going to law school and said to me 'you know that I have to take care of you when you get old'!!!

So, plan B in place!!
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Re: What's your Plan "B"?
Old 05-20-2005, 04:50 PM   #27
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Re: What's your Plan "B"?

Quote:
Originally Posted by Mountain_Mike
I consider garage sailing kinda fun.

Must require a hell of a big sail. Plus, I would think turning it
would be quite difficult. Never tried it, I confess.

JG
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Re: What's your Plan "B"?
Old 05-20-2005, 05:01 PM   #28
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Re: What's your Plan "B"?

Quote:
Originally Posted by playaman
I have given a lot of thought to "what is my Plan B" since this was first posted a few days ago, and I've enjoyed reading the thread (most of which has been fairly light-hearted).

In truth, this is not a light-hearted issue, and I've concluded I don't really know what I'd do if Plan A* (set to go in a year-and-a-half) doesn't work.* I've played by the rules, LBYM'd it, and plan to downsize to a paid-off, comfortable home in a Texas "active adult" community.* But, what if the stock market/ economy crashes?* Or, if health insurrance becomes truly unavailable before Medicare kicks in?* What is Plan B?

Given age discrimination (which is very real), poor market conditions, and my own lack of passion for a full-time job after I officially call it quits, I don't think going back to work in a significant way could be a real answer.* That leaves, as someone else noted, "tighten the belt" and really LBYM -- and maybe help with odd jobs here and there.* Or, dust off the law license I never used ...?

I don't like my answer, but realistically I see no other.* There simply is* no real Plan B.
Now, that's pretty interesting. Although I retired with no real plan,
I now have a Plan B, C, D, etc., and none of them include going back to
work.

JG
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Re: What's your Plan "B"?
Old 05-23-2005, 09:48 PM   #29
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Re: What's your Plan "B"?

Quote:
Originally Posted by Texas Proud


I do not have any kids, but since my niece was 5 years old I would tell her that she would have to take care of me when I get old I did not think much of it until last Christmas when she was going to law school and said to me 'you know that I have to take care of you when you get old'!!!
I like that! -- so maybe all that help I'm giving my kids on their math homework is really working on my Plan B?

'Course they'll also have to pay off the Chinese who are holding all our Treasury's debts, and cover the medical expenses of all the municipal retirees etc etc.... oh well, maybe this won't work too well after all...

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