MoPops
Dryer sheet wannabe
New guy here.. Worked as a company sales rep or sales Mgr my entire career. Mostly in healthcare marketplace. All big companies, no pensions, so my retirement will all be self funded. (Old IRAs, 401Ks, employee SPP, SS) I've got it spread around a bit. Most of its in IRAs now. No Roth, I've been fortunate to make a decent living.
Sitting on the fence now. I'd love to call it a career. Nice house in the suburbs, will be paid for next March. Bought a small farm a few years ago, it's paid off. No other debts. I love spending time at the farm working, and I also love riding motorcycles. Have ridden thousands of miles on long trips to every part of US including up to Prudoe Bay AK.. I don't think I'll have trouble keeping busy. Three kids all put through college, weddings done, all off the payroll. In fact, watching 5 grandkids grow up, is a big part of what we like to do.
61 yrs old, 38 yrs married, good health.
I've always heard I needed X percentage of my current income to retire. I won't live long enough to grow my savings to put me on a 80 percent of current income stream.
I'm in the one more year mode also. The good news is my mom & dad 90 & 89 respectively, are still kicking. They are failing a bit, but still on their own. (Despite Mom's Alzheimer's)
Talking to some higher income producers, brokers, executives over the years they always talk like they needed $5 million to cover retirement. That is not happening for me. I hope to have about one..
I'm trying to figure out SS.. When, who claims, my wife is same age, but hasn't worked outside home in 30 yrs.. What a complex quagmire that looks like.
So,, long intro.. A few questions.
1) is there a website where I can do a lot of my own financial planning? To see if i can actually pull this off?
2) what in the heck is everyone doing with their savings. Mine are going down. I'm still in the market, for about 50%. I don't want to try now to get into real estate rentals. What can I do that will provide some income or appreciation, but not be at huge risk? Or, just let it ride in very conservative market positions, and try not to worry?
3) if I wait 4 years and don't claim SS until I'm 66, I could have yearly income of about 80K. Any place/website I can go to for tax strategy during retirement. Naturally if Uncle Sam is taking half, that's going to really, really determine lifestyle.
Hope this isn't too long, I just don't have anyone I can bounce this stuff off of. My wife has faith I know what the heck I'm doing.. Any help appreciated. Thx
Sitting on the fence now. I'd love to call it a career. Nice house in the suburbs, will be paid for next March. Bought a small farm a few years ago, it's paid off. No other debts. I love spending time at the farm working, and I also love riding motorcycles. Have ridden thousands of miles on long trips to every part of US including up to Prudoe Bay AK.. I don't think I'll have trouble keeping busy. Three kids all put through college, weddings done, all off the payroll. In fact, watching 5 grandkids grow up, is a big part of what we like to do.
61 yrs old, 38 yrs married, good health.
I've always heard I needed X percentage of my current income to retire. I won't live long enough to grow my savings to put me on a 80 percent of current income stream.
I'm in the one more year mode also. The good news is my mom & dad 90 & 89 respectively, are still kicking. They are failing a bit, but still on their own. (Despite Mom's Alzheimer's)
Talking to some higher income producers, brokers, executives over the years they always talk like they needed $5 million to cover retirement. That is not happening for me. I hope to have about one..
I'm trying to figure out SS.. When, who claims, my wife is same age, but hasn't worked outside home in 30 yrs.. What a complex quagmire that looks like.
So,, long intro.. A few questions.
1) is there a website where I can do a lot of my own financial planning? To see if i can actually pull this off?
2) what in the heck is everyone doing with their savings. Mine are going down. I'm still in the market, for about 50%. I don't want to try now to get into real estate rentals. What can I do that will provide some income or appreciation, but not be at huge risk? Or, just let it ride in very conservative market positions, and try not to worry?
3) if I wait 4 years and don't claim SS until I'm 66, I could have yearly income of about 80K. Any place/website I can go to for tax strategy during retirement. Naturally if Uncle Sam is taking half, that's going to really, really determine lifestyle.
Hope this isn't too long, I just don't have anyone I can bounce this stuff off of. My wife has faith I know what the heck I'm doing.. Any help appreciated. Thx