Re: Gov't Dependent Early Retirees? GDER

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SteveMcgarret

Guest
Re: Gov't Dependent Early Retirees? GDER

Yeah, here's one. But better be careful. A lot of the ER types, mostly on some of the other boards, hate gub'mint "welfare leaches". I get that a lot until I say I'm retired military then the quick cover "thank you for your service" crap starts.
 
Re: Gov't Dependent Early Retirees? GDER

Yeah, here's one. But better be careful.  A lot of the ER types, mostly on some of the other boards,  hate gub'mint  "welfare leaches".   I get that a lot until I say I'm retired military then the quick cover "thank you for your service" crap starts.
Click to expand...

Just the right wing republicans will do the complaining.
 
Re: Gov't Dependent Early Retirees? GDER

hate gub'mint "welfare leaches".
Click to expand...

Sorry - This one always comes from right-wing Republicans. - nothing to do with jealousy.
 
Re: Gov't Dependent Early Retirees? GDER

Cut-Throat and GDER.. You're both correct. yes, financial envy or heck, any kind of envy is non-sectarian, non-denominational, and Multi-Partisan BUT.. it's my experience that it's the Right Wingers, and not to paint with too broad a brush but let's be honest, Republicans, that focus on the All Gub'mint workers of ANY kind (except those "heroic" military people) MUST be leeches" argument.

Backing up a bit....How many years of service/years retired and which branch-Steve?? Very few 'retired' military actually seem to retire. I'm the only one I ever met in all my years of service.

Just over 20. USAF. Is there another branch? Moved on averege 2.2 yrs. I had one long assignment. Almost 6 yrs. But also went a 6.5 yr period with 3 of those yrs at various remote radar stations in Alaska and 18 months living out of a TDY bag.

Yes, most of us (or as I call them "THEM") can'treally retire. The old debt thing I guess. Funny how while on active duty they're all trained to be prepared and have back-up plans and cover everything. Everything from classified material, weapons, or mission manning. But they can't look 15 minutes into the future when it comes to their financial lives.

Even officers and E-9's with 30 yrs. Man, if I had a retirement paycheck like that not only would I retire but I'd retire to Tahiti and buy that condo right next to Marlon Brando
 
Re: Gov't Dependent Early Retirees? GDER

Ha ha ha ... yes I managed to stay in one place 6 yrs. And I mean I had to MANAGE that one. I had already had 3 remotes on the books so I was safe for that rotation plus, plus I made E-7 while there. Seems like as you get closer to the top they dont "shotgun" you around as much as they do when you're E-1/E-6 or O-1/O-4. It helped that those Alaskan sites were finally converted to automated systems and the end of the Cold War seemed like it slowed down the Euro-World Tourist Bureau. (But I eventually made that trip anyway)

I 've been retired 7 yrs. April Fool's Day 1996 was the first day of the rest of my life. Have grown my hair down to my shoulders 3 or 4 times now. (Groovy, man)

I've actually had 2 jobs since I retired. One high pay, lasted about a month. And one low pay/low stress. Lasted 5 months. "Boss" pissed me off one night. I had been retired about 3 yrs at the time and realized I didn't need a job , the money OR the aggravation. Besides I was just over-feeding the kitty anyway

I figure by not working I'm actually peforming a public service. Let some 29 yr old working-man with mouths to feed take my slot. I'm sure whoever is working at those places now is as happy as I am in their own way.
 
Re: Gov't Dependent Early Retirees? GDER

double dippers- aerospace slang for retired military. I must have spent my life in a bubble - these were people considered ideal employees when I worked in aerospace. 29 years until 1993 and I spent my life a happy civilian. Last year I on jury duty I met a retired-retired military but he was a marine.
 
Re: Gov't Dependent Early Retirees? GDER

Don't think anyone believed I was really going to Retire with a capital 'R'.. Are you supplementing your retirement with investments/savings or toughing it out on what 'uncle' doles out? Although, I planned to supplement my pension with ~ $10k/yr from savings/investments, my first year went by without having to dip into my 'kitty'.
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Yeah yeah I know. EVERYBODY told me I could never live on the pension. I'd "need" more money. I'd get bored in 6 months... 3 months...1 year..whatever. Little did they know.

I HAVE a large stash that I can use for supplementation of pension using the 4% rule. BUT... the whole time I've been "Normal" (my term for Retired) ..even the year I had my car painted, then hit and repainted, bought a new computer, took a plane trip to the east coast on 24 hour notice in First Class, (no choice) and had some heavy medical bills, I fell well below the 4% .
My rule or "SOP" is to live as close to the retirement pay as possible. If I need something above and beyond I know I'm good for it
 
Re: Gov't Dependent Early Retirees? GDER

For some reason this didnt come out in my previous post:

I figure by not working I'm actually peforming a public service. Let some 29 yr old working-man with mouths to feed take my slot.

Me too.... LOL... Still public servants aren't we?? Try telling that one to some workin' stiff salvatin' for retirement

I just want to go on record with this. I menat that with ALL due respect. I wouldn't use terms like "workin stiff" or "salavatin" with people who need jobs and have mouths to feed

I only feel free to gloat when I gloat at all to the stupid, the lazy, and the "needy". You know the type: Always "NEED" to buy a new this and a new that.
 
Re: Gov't Dependent Early Retirees? GDER

SteveMcgarret,

Might as well register here - looks like you're going to be around awhile :D
 
Re: Gov't Dependent Early Retirees? GDER

Only retired a year and forgot all my PC training.. LOL
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C'mon now, man. That ain't "PC". I consider it a common courtesy to those who still HAVE to work.

I dig the part about working for 2 or 3 people though. I don't think it transcribes to the civilian job market but I'm sure whoever took our place in the AF is doing the work of 2 or 3. Especially these days!
 
Re: Gov't Dependent Early Retirees? GDER

I never had any sensitivity training (you could ask my
wife). I think it's because my only military service
was in the sexual revolution.
 
Re: Gov't Dependent Early Retirees? GDER

Hi; I just started spending time on this web site after a long absence. Retired Navy (28 years) + 7 years working as a civilian (with several multi-month breaks between several different jobs). Retired retired 3 months ago. At my age I'm not truly an early retiree, but it still beats working until 62 or 65. The inflation adjustment on the military pension is truly a good deal; just hope it doesn't get whittled away at over the years.

I'm a big fan of Dory 36 (whom I believe started this board) and who was a big contributor on the Motley Fool Retire Early Board until a while ago. (MF used to be free; it isn't any more. I'm still a member but may not renew it when it expires.) Anyway, Dory's "multiple income streams" (kicking in at different periods) and his on-line calculator were big assists in my retirement planning.

jtmitch
 
Re: Gov't Dependent Early Retirees? GDER

The sailors received 'ship-credit' for this shore assignment, so I sort-of have 5 years of 'ship-duty' in my 25+ of USAF time.

That makes up for all the cushy Air Force assgnments you had the other 20 years. ;) Actually, it surprises me that folks got sea duty credit for Naples; Kef I can understand.

jtmitch
 
Re: Gov't Dependent Early Retirees? GDER

Nice to see some other Mil Retirees on the board...I was beginning to wonder after 6 months of snooping and posting a little bit if I'd ever come across others like myself.

I spent 20 yrs, 1 month (thanks to Stop-Loss) on active duty in the great USAF. Since joining right out of HS my goal was always to retire at 20 and have enuf stashed away to provide the half lost at retirement. Not sure I accomplished that, but it's been 11 months and so far so good. My wife and I just had our 3rd child, all under 5, so I'm sure if I continue on this sabbatical called ER I may be in for a rude awakening. Of course I can always put the wife back into her teaching career and stay ER'ed....that should go over like a fart in church.

I too hope the COLA thing works out. Seems those politicians can't keep their hands off any available pot of money, and with increasing budget deficits I'm very skeptical of what could come our way in the future.

As for my big strategy, I've done a lot of soul searching, and asking advice, even on this board, about using my savings to pay off my mortgage and be completely debt free. Well, given the considerable possibility that we are close to a deflationary/depression era, I chose to liqiudate and pay it off. It was hard to take all that cash and put it under my roof so to speak, but I sleep better at night knowing the slimmy wall street types don't have MY money. The FIRE calculator is great, but no longer applies to my situation since I pretty much live month to month on the pension check.

Well I babble on so just let me say thanks to all those who serve and have served. I truly enjoyed my 20 years traveling the world and meeting some great folks along the way. Now it's time for my second life raising a family. Hey did I do this backwards:confused: Guess it doesn't matter, what's done is done. Best of luck to all and thanks again.
 
Re: Gov't Dependent Early Retirees? GDER

Did you see alot of sea-duty and family-separation like alot of folks "In The Navy"?

Had a fair amount of sea duty the first 6 years or so. But I was in a career field where that tapered off pretty rapidly, so I was pretty lucky with respect to family separation.

jtmitch
 
Re: Gov't Dependent Early Retirees? GDER

A few things...

First this might be getting into the "diff'ernt thread on a diffe'ent boart" zone but I will start it here and get scolded over to a diff'ernt board

I will start by saying that I used to own a house. I would buy one again if the price and other factors were right

I don't see any difference in paying off the house early and being mortgage free, and having enough money to keep making payments. It's the same money. Now or later. I will concede a "mental edge" to one but as long as one has the money to do whatever they want where's the big whoop paying it off?

If I smelled DEflation on the horizon with any degree of confidence the last thing I'd do is tie up a lot of money in an asset that can only lose value. And saying that you'll be living in it is irrelevant. The phantom 1200 per month that house was paying you to live in it is now paying you only a phantom 800. It used to be worth 100 thou and now it's only worth 60 thou or 80 thou. Where's the money you used to have? Those Wall Streeters have it

There are somethings you can do to preserve wealth and even make some money during deflation and sinking a lot of money into hard assets ain't one of 'em.

I;ll agree that your situatiuon operationally speaking probably wont change much. You're there now and you'll still be there. Just pay the taxes and they cant throw you out. But there's no real financial magic here as far as I can see PLUS your net worth takes a hit for real AND on paper
 
Re: Gov't Dependent Early Retirees? GDER

I don't see any difference in paying off the house early and being mortgage free, and having enough money to keep making payments. It's the same money. Now or later. I will concede  a "mental edge" to one but  as long as one has the money to do whatever they want where's the big whoop paying it off?

If I smelled DEflation on the horizon with any degree of confidence the last thing I'd do is tie up a lot of money in an asset that can only lose value. And saying that you'll be living in it is irrelevant. The phantom 1200 per month that house was paying you to live in it is now paying you only a phantom 800. It used to be worth 100 thou and now it's only worth 60 thou or 80 thou. Where's the money you used to have? Those Wall Streeters have it

There are somethings you can do to preserve wealth and even make some money during deflation and sinking a lot of money into hard assets  ain't one of 'em.

I;ll agree that your situatiuon operationally speaking probably wont change much. You're there now and you'll still be there. Just pay the taxes and they cant throw you out. But there's no real financial magic here as far as I can see PLUS your net worth takes a hit for real AND on paper
Click to expand...

Steve,

You bring up some good points. But what you say about hard assets is true except when talking about your primary residence. This is one asset that is not a luxury like a car, boat, etc. I definately wouldn't put cash into those during a deflationary period since they should get cheaper over time. But the house you live in is a different story. As long as you are content with the property and won't ever need to sell out, then the peace of mind in owning it outright verse using capital to make the payments is worth it. And in my case the capital has to appreciate over time in order to make all payment for the life of the loan. The market is just too risky right now to assume you can turn 6% in the short-medium term.

Bottom line is I wouldn't take a 6% loan today to invest in any portion of this market. That seems crazy to me. Good luck to the risk takers who do.
 
garybev@miRe: Gov't Dependent Early Retirees? GDER

I agree with many of Steve's comments. A low interest mortgage offers you the opportunity to diversify your investments, and not commit a large portion of cash to a single asset (your home), the value of which can be negatively impacted by circumstances beyond your control. The mix of investments I had when I took an early retirement managed to drive returns greater than my mortgage rate over the past couple years. The cash I retained (did not pay on my home) was also invested to drive additional income streams. I guess I just like the flexibility the extra cash offers so I can take advantage of rate increases, and still participate in the stock market to meet longer-term financial goals.

Based on everything I've read on this and other sites, one thing is clear.....everyone's personal situation and risk tolerance is unique, and there is no single answer to this question.
 
Re: Gov't Dependent Early Retirees? GDER

I paid cash for our present home and will not have a
mortgage on the new one we are building in Texas.
Expect the new home's value will represent about 20%
of my net worth (40% if we keep both homes -
unlikely). I can't prove this is better for my long term
financial health though. Strictly a visceral thing.
 
Re: Gov't Dependent Early Retirees? GDER

John, where in Texas are you building?

Fellow Texan
 
Re: Gov't Dependent Early Retirees? GDER

Howdy Allan! (practicing my Texas talk).

We bought 7 acres (just a big lot in Texas - would be a ranchette up north), about 50 miles north of Dallas
near Lake Texoma. We fish and boat and needed to be
near big water. The final decision on where to locate
hinged on my having lived in Irving, Texas for 4 years
before I retired completely. Thus, I know the territory
and feel comfortable there (North Texas). My wife and I are both country people and were very happy to find this place after a lot of looking.
 
Re: Gov't Dependent Early Retirees? GDER

I paid cash for our present home and will not have a
mortgage on the new one we are building in Texas.
Expect the new home's value will represent about 20%
of my net worth (40% if we keep both homes -
unlikely).  I can't prove this is better for my long term
financial health though.  Strictly a visceral thing.
Click to expand...







consumption item. Sold our duplex in the city when we ER'd and moved into the fish camp (7 miles outside the levee) no morgage, no insurance no 'stuff' we can't replace. BTY my oldest nephew ( navy-13yrs and counting) gambled and won in the 1990's- bought and sold a house during their Norfolk tour but he did two middle east trips so it may have been longer than his normal three years.
 
Re: Gov't Dependent Early Retirees? GDER

John:

Welome to Texas. Weathers' great, low taxes, beautiful women and the horses aren't bad either.

Allan
 
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