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Post by unomusette on Jan 6, 2018 22:07:50 GMT
It is nice to have options, plus it sounds as if you really love your job anyway eloneen so staying on is not so much a chore. BSJ is right about them pulling the rug out from under us as far as retirement age goes, it's the same here
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Post by Horacewimp on Jan 6, 2018 22:13:36 GMT
About 20 years ago a financial advisor told me to try to have three potential income streams for a pension, then if one is failing hopefully the others will provide an income.
With this in mind I’ve a pension pot, some savings accounts and a number of buy to let rental properties. I hoped to retire around the age of 55 that is this year, as the kids are still reliant upon us for income it looks like working for a few more years.
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Post by eloneen on Jan 6, 2018 22:17:08 GMT
They keep upping the age to get Social Security, I think it's 66 now. The longer you wait to collect the larger your monthly check. No way I'm waiting - 6 years to go . We baby boomers are sucking out the funds. I hope there's some left for Davey. He's 6 years younger then me. I'm in the group that has to wait until 67 for full Social Security. (Dave might be, too.) What I do depends on what our health and finances look like then. The young man WILL be finishing up university that same year, and we should have our house paid off by then, so we'll need much less money to live on. Hubby does not plan to retire until the mandatory age of 70, so we'll still have his income, and he'll wait for full Social Security age. His weird work schedule would allow us to get away and travel from time to time, so I won't complain. I like to plan, but things can always change...
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Post by unomusette on Jan 6, 2018 22:40:20 GMT
Sounds like you had good advice Horacewimp, 20 years ago nobody would have thought things could change so drastically after 2008. We're thinking about renting out our flat in France but I'm nervous after hearing all those horror stories about terrible tenants. Hope you've been lucky with yours.
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Post by BSJ on Jan 7, 2018 0:24:14 GMT
Horacewimp, a few more years of putting your feet up on your desk thinking of clever posts and polls for the forum.
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Post by eloneen on Jan 7, 2018 0:32:57 GMT
Sounds like you had good advice Horacewimp , 20 years ago nobody would have thought things could change so drastically after 2008. We're thinking about renting out our flat in France but I'm nervous after hearing all those horror stories about terrible tenants. Hope you've been lucky with yours. A flat in France, you say.... in need of good tenants....hmmm! Let's talk!! * scratches head wondering, rubs hands together expectantly*
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Post by eloneen on Jan 7, 2018 0:56:43 GMT
About 20 years ago a financial advisor told me to try to have three potential income streams for a pension, then if one is failing hopefully the others will provide an income. With this in mind I’ve a pension pot, some savings accounts and a number of buy to let rental properties. I hoped to retire around the age of 55 that is this year, as the kids are still reliant upon us for income it looks like working for a few more years. I've read the same kind of advice. I've got a couple of other retirement accounts (over which I have some control of the investments) in addition to the state teachers' pension and Social Security, so I have a bit of diversity, too. I do think I'd like to do some part time work for a while after I retire from full time work. Going straight from full time teaching to full retirement would be a bit too jarring for me, I think. We'll see!
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Post by BSJ on Jan 7, 2018 1:31:14 GMT
Knowing you, you will go crazy if you don't work. I didn't work for close to two years. I went nuts. Most of my friends work. if they don't, they can't afford to do things with you, or are taking care of their grandkids. To save my sanity I took a two day a week job. And, learned to do things by myself. So liberating being on your own .
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Post by unomusette on Jan 7, 2018 18:31:35 GMT
Sounds like you had good advice Horacewimp , 20 years ago nobody would have thought things could change so drastically after 2008. We're thinking about renting out our flat in France but I'm nervous after hearing all those horror stories about terrible tenants. Hope you've been lucky with yours. A flat in France, you say.... in need of good tenants....hmmm! Let's talk!! * scratches head wondering, rubs hands together expectantly* You might not be so keen when you discover it's over a shop in a small market town in northern France, up a rickety staircase and with a facade that's been hanging off since we bought it because nobody seems to want to repair it. It's nice inside though, with plenty of lovely Muse posters...hey! Come back!
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Post by eloneen on Jan 7, 2018 21:42:04 GMT
A flat in France, you say.... in need of good tenants....hmmm! Let's talk!! * scratches head wondering, rubs hands together expectantly* You might not be so keen when you discover it's over a shop in a small market town in northern France, up a rickety staircase and with a facade that's been hanging off since we bought it because nobody seems to want to repair it. It's nice inside though, with plenty of lovely Muse posters...hey! Come back! So, not vacation rental material, you think?
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Post by unomusette on Jan 7, 2018 23:15:25 GMT
Probably not worth flying all the way from the US, sadly, although you can practise your French. But good for a booze cruise with benefits if you live in the UK
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Post by BSJ on Jan 7, 2018 23:27:26 GMT
Sounds like a perfect hideaway, though.
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Post by eloneen on Jan 8, 2018 23:04:41 GMT
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Post by unomusette on Jan 9, 2018 19:17:54 GMT
Multi-tasking, you're doing it right
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Post by BSJ on Jan 9, 2018 19:56:28 GMT
Like having the training wheels taken off!
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