bad80cj
Well-Known Member
:****:
How do I get there?
How do I get there?
-
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Retirement thread
- Thread starter bad80cj
- Start date
5BrothersFabrication
Zzzzz....
Marry a rich widow. 
B
bjeep
Guest
No worries. Obama will take care of you. :afro: 
uke: 
uke:
bad80cj
Well-Known Member
With my current occupation and job I have nothing to look for in the future. I'm in a pay check to pay check cycle right now and have been for the past 10 years. I know things will lighten up a tad when I'm done paying the exwife. I'm 41 and see no light at the end of the tunnel.
As for this ****ing President he can lick my nuts
As for this ****ing President he can lick my nuts
red94yj
Well-Known Member
Just take something out of each paycheck and put it into savings.
I try to put away a good bit of my paycheck, but i also get 25 to 30 hours of overtime a week so that helps alot. I am 25 years old now and realize I need to save for the future. My wife has helped me save money. She usually packs my lunch everyday and that alone saves decent money.
I try to put away a good bit of my paycheck, but i also get 25 to 30 hours of overtime a week so that helps alot. I am 25 years old now and realize I need to save for the future. My wife has helped me save money. She usually packs my lunch everyday and that alone saves decent money.
red94yj
Well-Known Member
Edit: Double post.
bad80cj
Well-Known Member
red94yj said:
duh
kody29
Well-Known Member
- Joined
- Jan 24, 2014
- Messages
- 271
im 31 years old I am in the car busisness, and started my own business about 6 months ago. After 4 month in business im tracking 50k my first year and started it with just a fraction of money also have a wife that works in oil and gas we put max in 401k that they will match and the rest I buy sell cars on side and toys its tough out there now just make hay while the sun shines I don't have all the answers by any means but just set yourself goals. I just bought my new house in dec andplan to pay it off in ten years that's my goal if I come up a little short its paid in 18 years still not 30.
kushKrawlin
Well-Known Member
Sounds like me almost to a T.. Esp the last line .. My dad is very successful, he's always told me the only way to be successful (unless you own a good company or have a GOOD CAREER ) is real estate. Must be some truth to that because I've seen him make a fortune in it. Me personally i run my own business, just a lawn care company but I have 2 really big accounts, every year I have anxiety when it comes to renewing the contracts.. I try not to think that far ahead, live while ya can, damn lifes so short. But as far as retirement goes i myself have ****... I hate to even think about that far down tha road.bad80cj said:
Nuts
Well-Known Member
Success is what exactly? A big fancy house, or a **** ton of money in the bank, a new truck? I know a few people that have none of that and are completely happy with their lives. Are they not successful people?
xjkrawler
Well-Known Member
AdamF said:
How can anyone be happy/ successful living with alot of debt?
B
bjeep
Guest
They do not let the debt bother them. So they will stay that way. :****:
John Galbreath Jr.
38 Special & Solo Buggy
- Joined
- May 24, 2007
- Messages
- 8,613
How about a buy here, pay here gayzer lot.
Never mind, Polaris Credit already has that on lock down.
Never mind, Polaris Credit already has that on lock down.
bad80cj
Well-Known Member
AdamF said:
this is not about success nor debt. This is bout retirement.
I have about zero debt. I also don't have thing most have
John Galbreath Jr.
38 Special & Solo Buggy
- Joined
- May 24, 2007
- Messages
- 8,613
Okay. A little seriousness.
To get to retirement, you cannot have debt!
If you have debt, get on Dave Damsey's program. Reduce, then get rid of debt, and the same time creating savings.
Pay your bills on time, or early. You must have as close to a perfect credit score as possible.
Take advantage of any employers programs, like 401k, where they match your money. Their money is free.
If your current job does not have the ability to get you to the financial level you desire, look elsewhere. But, IMO, never leave a job without a new one.
Think outside the employment box as to what will give you income, without working.
Using good credit and low/no debt to purchase real estate to rent is one way. That is what has worked for me. Make sure the investment will break even or better for the duration of the mortgage. Once it is paid off, all moneys is income, except upkeep.
Invent / create something, that someone will want to buy. Hopefully paying a residual or royalty. I do not have the expertise for that one, but there are fortunes made every day.
Don't count on the government for anything. Figure everything you ever have put in or will put in will not be available for you when you need it. Plan for the government only taking more from you, never giving any back. IMO, if you plan on the government supporting you in retirement, you may just not ever be able to stop working.
To quote my friend Fred Williams: "Don't just be the tool; hire the tools and own the company." If you are the tool, you will always be replaceable. If you are replaceable, there is little incentive for a company to pay you to your potential. If you are the one bringing in the company money, why can't you do it on your own. What would it take? Is it possible to make the jump next year, in five years, ten years, fifteen years. Or in fifteen years, will you be looking back thinking you missed your chance.
Okay, make a plan. ON PAPER. You are at the timeline beginning. Look at the date you wish to retire. Now, divide the timeline up into years and put in key steps you must achieve to make each yearly goal. You need a goal every year. You need to know if you are getting ahead (retire early) or getting behind, havde to continue working.
If you are getting ahead, leverage this increase. If you are failing. Give a hard look at why. Was the goal not attainable? Was there an error in your process? What will it take to get back on track.
My first retirement date was September 29, 2009. I was pretty much on track for that goal. I had worked both my home mortgage and my commercial real estate mortgage to mature on that date. Even though both those paid off on time, the economic crash set me back hard. I had to re-forcast what it was going to take, and set a new date and goals. I made my second retirement date of March 31, 2013.
So, folks especially those that are young, you are in complete control.
In the words of Winston Churchill: "He who fails to plan is planning to fail".
To get to retirement, you cannot have debt!
If you have debt, get on Dave Damsey's program. Reduce, then get rid of debt, and the same time creating savings.
Pay your bills on time, or early. You must have as close to a perfect credit score as possible.
Take advantage of any employers programs, like 401k, where they match your money. Their money is free.
If your current job does not have the ability to get you to the financial level you desire, look elsewhere. But, IMO, never leave a job without a new one.
Think outside the employment box as to what will give you income, without working.
Using good credit and low/no debt to purchase real estate to rent is one way. That is what has worked for me. Make sure the investment will break even or better for the duration of the mortgage. Once it is paid off, all moneys is income, except upkeep.
Invent / create something, that someone will want to buy. Hopefully paying a residual or royalty. I do not have the expertise for that one, but there are fortunes made every day.
Don't count on the government for anything. Figure everything you ever have put in or will put in will not be available for you when you need it. Plan for the government only taking more from you, never giving any back. IMO, if you plan on the government supporting you in retirement, you may just not ever be able to stop working.
To quote my friend Fred Williams: "Don't just be the tool; hire the tools and own the company." If you are the tool, you will always be replaceable. If you are replaceable, there is little incentive for a company to pay you to your potential. If you are the one bringing in the company money, why can't you do it on your own. What would it take? Is it possible to make the jump next year, in five years, ten years, fifteen years. Or in fifteen years, will you be looking back thinking you missed your chance.
Okay, make a plan. ON PAPER. You are at the timeline beginning. Look at the date you wish to retire. Now, divide the timeline up into years and put in key steps you must achieve to make each yearly goal. You need a goal every year. You need to know if you are getting ahead (retire early) or getting behind, havde to continue working.
If you are getting ahead, leverage this increase. If you are failing. Give a hard look at why. Was the goal not attainable? Was there an error in your process? What will it take to get back on track.
My first retirement date was September 29, 2009. I was pretty much on track for that goal. I had worked both my home mortgage and my commercial real estate mortgage to mature on that date. Even though both those paid off on time, the economic crash set me back hard. I had to re-forcast what it was going to take, and set a new date and goals. I made my second retirement date of March 31, 2013.
So, folks especially those that are young, you are in complete control.
In the words of Winston Churchill: "He who fails to plan is planning to fail".
TacomaJD
I LIKE CHEAP STUFF.....
Son of a bitch....I didn't even see this thread before I started one. 
TacomaJD
I LIKE CHEAP STUFF.....
Crossposting from the thread I started....disregard the part below about "I wanted to start this thread" John, you can delete the one that I started, as it will pose useless since this one was already active. 
Financial opinions have already been brought up before here, and discussed in great detail. From that, I've learned there are 3 types of people.
1.) People that establish a solid financial foundation and direction early enough in life to be able to afford paying cash for things, or have the self control needed to patiently wait until they can pay cash for things.
2.) People that are good money managers and use financing, but are not "over financed." Who can properly asses what they finance, ensuring they will be able to easily handle whatever the longevity of the loan may be, and pay it off on time or even early.
3.) You only live once! Run my credit, if you'll finance it to me, I'll sign my name on whatever line you want me too. If I can't pay for it, fawk it, I'll sell it....surely I'll be able to sell it, right? Hey, can I borrow $20 and pay you next week? :middelfangers:
I fall into catagory #2, as I honestly lack the patience to save for prolonged periods of time to pay cash for anything remotely expensive. It's just like saving over time, because I'm obligated to pay a payment. Sure some of that money is interest, but the interest doesn't bother me because it's like the fee I'm paying in order to have whatever it is I want, ahead of time instead of having to do without for so long. That's the only downside of my nature, if I want it, I want it now....but only if I KNOW I can afford it.
I've never gotten myself in debt over my head and I've been paying for **** since I was 15. (Dirt bike payments financed in my dad's name).
I wanted to go ahead and start this thread, because like others mentioned, there are things to learn, especially at my ripe age of 27, from those that are older, wiser, that have been there - done that, and can tell you about how it really is.
Financial opinions have already been brought up before here, and discussed in great detail. From that, I've learned there are 3 types of people.
1.) People that establish a solid financial foundation and direction early enough in life to be able to afford paying cash for things, or have the self control needed to patiently wait until they can pay cash for things.
2.) People that are good money managers and use financing, but are not "over financed." Who can properly asses what they finance, ensuring they will be able to easily handle whatever the longevity of the loan may be, and pay it off on time or even early.
3.) You only live once! Run my credit, if you'll finance it to me, I'll sign my name on whatever line you want me too. If I can't pay for it, fawk it, I'll sell it....surely I'll be able to sell it, right? Hey, can I borrow $20 and pay you next week? :middelfangers:
I fall into catagory #2, as I honestly lack the patience to save for prolonged periods of time to pay cash for anything remotely expensive. It's just like saving over time, because I'm obligated to pay a payment. Sure some of that money is interest, but the interest doesn't bother me because it's like the fee I'm paying in order to have whatever it is I want, ahead of time instead of having to do without for so long. That's the only downside of my nature, if I want it, I want it now....but only if I KNOW I can afford it.
I've never gotten myself in debt over my head and I've been paying for **** since I was 15. (Dirt bike payments financed in my dad's name).
I wanted to go ahead and start this thread, because like others mentioned, there are things to learn, especially at my ripe age of 27, from those that are older, wiser, that have been there - done that, and can tell you about how it really is.
kushKrawlin
Well-Known Member
..AdamF said:
Absolutely they are
