Metal Sludge Gossip Board

Not asking for amounts. Assuming you live to somewhere between 75-85 years old and the life you want to have, are you a paper millionaire yet? I was shocked to read a stat on the horrible planning people in their 40s and 50s have done on average.

I could prolly retire now. I dont, because my current job allows for ample time for Sludging, and you dont walk away from a benefit like that.

I still live in my 4-BR house that is too large for just my wife and me and two dogs. Four kids are grown. If we downsized, paid off the rest of the mortgage, and paid cash for something smaller, I could probably too (I'm 58). We aren't ready to sell until we retire as we probably want to leave Ohio or even the US. Our bucket list for the last 20 years is minimal-styled living where it is always warm, sunny, and near a beach. In the meanwhile, I'm cashing a good paycheck for a job I've grown to dislike, but I'm trying to stop getting so invested on career things younger people worry about and let it roll off my back. I work from home, so I have quite a bit a flexibility. Seems like a good deal for now.

Do you all pick your own investments or hire a financial advisor to do it for you?

I have a financial planner that manages that in a way that adjusts the closer I get to retirement to be less risky. He has me pretty set.

Personally, I don’t know much about managing investments.

I've read it's best to get more conservative about 10 years before retirement. Many people do not if they manage it themselves. Safe investments are boring.

It has been for me. My last meeting with finance guy, he was able to show me things that will NEVER go down before retirement the way it is now structured. It can only go up and is a locked guaranteed amount once I begin withdrawing. At 58, I'm not in the risk game.

Everyday is retirement when you didn’t invest in a wife or money draining kids

Watching the female life guard now is awesome
Got cash for lunch and WWE Smackdown tickets go on sale next week for San Diego

Pretty awesome Back To The Future musical plays about 200 steps away from De Ja Vu stripclub

** you know when someone is living large when they can be in bunch of tribute bands nobody cares about in LA. Living the dream..that’s great

I will die poor.

Not very

LAglamrocker wrote: ↑Fri Nov 08, 2024 10:46 am Everyday is retirement when you didn’t invest in a wife or money draining kids

Touché. I've had two wives (one died, but not by my hand) and one bio kid + three stepkids. Everyone is on their own at this point. I don't think "invest" is the word you want to use.

serving life sentence of misery..that’s worse..doing an “A” job with that..congrats

I can go see D list LA tribute band whenever I want or road-trip to Bakersfield for Raw

Wednesday 13 going on tour next summer..plan on going on that tour in circle of fun..Vegas-LA- San Diego
Be fun to hear I Love Watching You Die every night(his marriage and kids anthem)..I listened to his warning#ThanksWednesday13

Rocker4Real wrote: ↑Fri Nov 08, 2024 8:45 am Do you all pick your own investments or hire a financial advisor to do it for you?

I customize all of it... 401K, Roth IRA, and separate investing accounts to actively trade.

Nate S Axel wrote: ↑Fri Nov 08, 2024 1:49 pm

Rocker4Real wrote: ↑Fri Nov 08, 2024 8:45 am Do you all pick your own investments or hire a financial advisor to do it for you?

I customize all of it... 401K, Roth IRA, and separate investing accounts to actively trade.

I'm very proud of you! I remember when you were just a kid from the Midwest if I'm not mistaken? 22 or 23 on your first trip to CA? And look at you now!

Metal Sludge wrote: ↑Sat Nov 09, 2024 6:29 pm

Nate S Axel wrote: ↑Fri Nov 08, 2024 1:49 pm

Rocker4Real wrote: ↑Fri Nov 08, 2024 8:45 am Do you all pick your own investments or hire a financial advisor to do it for you?

I customize all of it... 401K, Roth IRA, and separate investing accounts to actively trade.

I'm very proud of you! I remember when you were just a kid from the Midwest if I'm not mistaken? 22 or 23 on your first trip to CA? And look at you now!

The "classic era"! I was 22 when I went to Sludgin' In Vegas, Sludgin' In L.A., and MSEX 9 or whichever one that was, and then hosting the one in Cleveland ( ) that NYE.

I am super comfortable. I have a great pension and supplemental plan. I have my own s-corp that puts into a profit sharing plan that has a healthy balance. Plus lots of investments. Paid off house in LA, cash flowed two expensive college educations for my kids, can basically do whatever I want. Feel pretty lucky that I have a good job when so many are struggling. Can't retire until next year when I turn 55, but I feel like I can go to 59 (physically tough job) and then tap out.

I’m 66 and my wife 62. No stocks. We have a pretty penny locked away in CDs that bring in a bit under 60k a year. I also have six rental properties I manage which provide nice income.

My wife and I are comfortable and don't have to worry about the cost of food or the price of gas.

I grew up in a lower middle-class family and half my adult life lived paycheck to paycheck. So, I've never had expensive tastes.

All in all, life is good but I can always find something to bitch about.

I have had a 401K since I started working part time at 15. I have managed money pretty well and have some investments. Don’t really have any bills besides my mortgage and car payment. AMEX gets paid every month

MattleyCrue wrote: ↑Sun Nov 10, 2024 5:51 am I have had a 401K since I started working part time at 15. I have managed money pretty well and have some investments. Don’t really have any bills besides my mortgage and car payment. AMEX gets paid every month

Are you still the #1 Mazda dealer in your entire district? MattleyTrump is loaded!

MattleyCrue wrote: ↑Sun Nov 10, 2024 5:51 am I have had a 401K since I started working part time at 15. I have managed money pretty well and have some investments. Don’t really have any bills besides my mortgage and car payment. AMEX gets paid every month

I don't think Enuff Z'nuff t-shirts count as investments

TooOldToCare wrote: ↑Fri Nov 08, 2024 6:52 am Not asking for amounts. Assuming you live to somewhere between 75-85 years old and the life you want to have, are you a paper millionaire yet?

Yes - for now Hurdles to retirement are house (pd in 5 yrs) and college (will be paying for 7 more yrs)

Bono Nettencourt wrote: ↑Sun Nov 10, 2024 1:32 pm

TooOldToCare wrote: ↑Fri Nov 08, 2024 6:52 am Not asking for amounts. Assuming you live to somewhere between 75-85 years old and the life you want to have, are you a paper millionaire yet?

Yes - for now Hurdles to retirement are house (pd in 5 yrs) and college (will be paying for 7 more yrs)

Since we plan to move, I hope to have no mortgage or car payment. Otherwise, the big deal is medical coverage. My wife wishes to retire in 2 ½ years, so I cannot glom onto her coverage. That is probably the most significant factor between sooner or a little less soon.

Same. I have retirement medical thru my company, but it would still be pretty damned expensive if i retired before 65. Plus, I have to hope that my kids are into jobs and off the books post-graduation.

Bono Nettencourt wrote: ↑Mon Nov 11, 2024 7:08 am Same. I have retirement medical thru my company, but it would still be pretty damned expensive if i retired before 65. Plus, I have to hope that my kids are into jobs and off the books post-graduation.

Nice that it is offered in any form. In one of my old companies, where I was for 27 years, they used to have retiree insurance but killed it to cut costs.

pieceofme wrote: ↑Sun Nov 10, 2024 12:48 pm

MattleyCrue wrote: ↑Sun Nov 10, 2024 5:51 am I have had a 401K since I started working part time at 15. I have managed money pretty well and have some investments. Don’t really have any bills besides my mortgage and car payment. AMEX gets paid every month

I don't think Enuff Z'nuff t-shirts count as investments

He should have invested in LA Guns swag.

Danzig in the Dark wrote: ↑Mon Nov 11, 2024 8:48 am

pieceofme wrote: ↑Sun Nov 10, 2024 12:48 pm

MattleyCrue wrote: ↑Sun Nov 10, 2024 5:51 am I have had a 401K since I started working part time at 15. I have managed money pretty well and have some investments. Don’t really have any bills besides my mortgage and car payment. AMEX gets paid every month

I don't think Enuff Z'nuff t-shirts count as investments

He should have invested in LA Guns swag.

The terror gypsies are gonna have a nice retirement, and Vanity Binge will be sleeping in a wet cardboard box on the street.

What am I saying "will be"? Im sure he already is!

Blumpkin King wrote: ↑Sat Nov 09, 2024 7:51 pm I am super comfortable. I have a great pension and supplemental plan. I have my own s-corp that puts into a profit sharing plan that has a healthy balance. Plus lots of investments. Paid off house in LA, cash flowed two expensive college educations for my kids, can basically do whatever I want. Feel pretty lucky that I have a good job when so many are struggling. Can't retire until next year when I turn 55, but I feel like I can go to 59 (physically tough job) and then tap out.

Hey Blumpkin King ( great handle, btw), I was jhust curious if I may ask, what you do for a living that you are able to retire at 55? That's really great. Do you live a somewhat frugal lifestyle now, or have you been more of a lets-just-spend-it-while we can, kind of life? I'm just wondering. I really hope you are doing well in life. It really sounds like you are slaying it in life.

Best,

Neil C.

NeilC wrote: ↑Mon Nov 11, 2024 5:45 pm

Blumpkin King wrote: ↑Sat Nov 09, 2024 7:51 pm I am super comfortable. I have a great pension and supplemental plan. I have my own s-corp that puts into a profit sharing plan that has a healthy balance. Plus lots of investments. Paid off house in LA, cash flowed two expensive college educations for my kids, can basically do whatever I want. Feel pretty lucky that I have a good job when so many are struggling. Can't retire until next year when I turn 55, but I feel like I can go to 59 (physically tough job) and then tap out.

Hey Blumpkin King ( great handle, btw), I was jhust curious if I may ask, what you do for a living that you are able to retire at 55? That's really great. Do you live a somewhat frugal lifestyle now, or have you been more of a lets-just-spend-it-while we can, kind of life? I'm just wondering. I really hope you are doing well in life. It really sounds like you are slaying it in life.

Best,

Neil C.

I work in the film industry. I have been very fortunate to work on some pretty good things and to always be able to find work. My guild allows you to retire at 55 because of the wear and tear we have on our bodies. I feel pretty good physically so I'll keep going. Could I retire financially, probably, but I want to add to retirement fund and another 4 years of money could not hurt. Plus I really like what I do for a living. I live a nice lifestyle. I go to any concert that I want to which is my only real vice. We go on nice vacations (last year Europe for a month, this year Ireland for 2 weeks). I don't car about cars so I drive an 8 year old car that works just fine. I don't want fancy clothes and I don't need them for work. I don't care about watches or really anything expensive, but our home is very nice. Honestly my wife has really been the driving force. She saves like a mad woman, but we don't want for anything. She learned to invest before we had any money (been married for 28 years), so if we ever had anything she would learn to make it work for us.

I've never gotten divorced or had any kids out of my marriage so that helps.

Thanks for the compliment.

I'm fortunate to have secured my financial future early in life - I could have retired back in my undergrad days. Throughout the years IP royalties, diversified investments and several successful business ventures have allowed me to achieve full financial independence. Despite this, retirement isn't in my plans. I genuinely love my work, it's my hobby and my life.

No mortgage or current car payment, and if I retire in two years I can get out with an 80% pension. My investments are decent, and I should be able to supplement the other 20% from that.

The only thing that will suck is paying for health care.