Join Early Retirement Today
Thread Tools Search this Thread Display Modes
dazed and confused in mn
Old 04-21-2010, 01:36 PM   #1
Dryer sheet wannabe
Join Date: Apr 2010
Posts: 11
dazed and confused in mn

hi i have been reading this site for a couple days and just joined up.
iam 54 divorced and way behind the curve as far as financials go and sure could use some advice and/or encouragement!

i have been a blue collar worker my whole life and currently layed off
since first of the year.really wish i never had to go back to work,just getting tired i guess.

80,000 ira
18,000 roth
13,000 401k
32,000 central pension fund (cant contribute and gains no value) may not even be there when time comes

70,000 mort.(890.00)month aporox.11 yrs. to go
15,000 heloc
5000.00 c card

any hope for retirement while i am still alive?
jeffd 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 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 04-21-2010, 03:47 PM   #2
Full time employment: Posting here.
Join Date: May 2008
Location: Austin
Posts: 654
Not sure without knowing what your total yearly expenses usually are, and about how much you are eligible for for Social Security. As a wild guess, as long as you find employment, you can probably retire somewhere in the 63-65 range.
plex is offline   Reply With Quote
Old 04-21-2010, 03:54 PM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
Join Date: Mar 2007
Posts: 13,332
Welcome jeffd. As a general rule you can spend about 4% of your investments every year and not run out of money. If your get your pension, that is about $5700 a year plus your social security. (You should get a yearly mailing of what you can expect that to be.) How does that compare to your expected yearly expenses in retirement?
travelover is offline   Reply With Quote
Old 04-21-2010, 04:33 PM   #4
Recycles dryer sheets
JBmadera's Avatar
Join Date: Apr 2010
Location: Green Valley
Posts: 245
Welcome and there is always hope! tons of great info here: ways to attack the investment/savings fronts and the expense/life-style fronts.

glad you are here.
JBmadera is offline   Reply With Quote
Old 04-22-2010, 06:23 AM   #5
Recycles dryer sheets
Join Date: Jun 2007
Location: Oklahoma City
Posts: 303
Since you do not mention Healthcare I would say it is looking like medicare age when you can retire (65)

By then your house will be paid off -- hopefully you will rid yourself of all other debt and your SS monthly payout should be higher than at 62....

Get your expenses down to a bare minimum and living at 65 on SS and savings will be much more doable
USAF Veteran -- Retired Air National Guard -- OSW -- ONW -- OIF
militaryman is offline   Reply With Quote

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
Confused landover Young Dreamers 5 01-21-2010 12:38 AM
39 and confused midlifechange Hi, I am... 53 07-09-2008 06:53 PM
Confused xprinter Young Dreamers 6 05-02-2007 08:08 PM
I'm so confused..... txdakini FIRECalc support 4 03-04-2007 09:40 PM

» Quick Links

All times are GMT -6. The time now is 09:54 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.