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bajabuddha
Banned
Posts: 4024
Registered: 4-12-2013
Location: Baja New Mexico
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Mood: Always cranky unless medicated
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Do it now before your back peters out, or vice-versa......... 
I don't have a BUCKET LIST, but I do have a F***- IT LIST a mile long!
86 - 45*
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SteveWil
Junior Nomad
Posts: 29
Registered: 7-9-2010
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Quote: Originally posted by fishbuck  | I just found out last week that my company (Boeing) will offer another Volountary Lay Off next year.
This coincides with my 58th birthday so I will be eligile for full pension too.
I was hoping to have more money by now but oh well...
Now I am just wondering if I can survive on my pension and 401k until 62 and I will take early social security. I keep medical until I get medicare.
I just paid off my lots this year.
Some my fantasy is to put in my paperwork and get out on the 1st day possible.
Have my truck loaded and head south and not stop until I am at my camp.
I have no plan for what I will do after that.
Maybe pitch a tent and live outside until I build a small structure. I will have nothing but time...
A truck load of block at a time and a few bags of cement.
Anybody done this or thinking about it.
I mean I can litterally go off grid and live a very thifty life. A real pioneer.
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I am for retiring as soon as you can if working is not your thing, but do it on your terms. I would not leave as soon as possible if I was not ready.
I would not kill myself getting to my camp just to be there a day sooner. I would get a small used trailer to camp in, I do not do tents, too old for
that, even when I was 50. Take your time getting to your camp are there some thing you wanted to see/do between you and your camp that you always want
to spend some time at. Like you said, you now have me time. I retired at 60 and I took my SS at 62 and I am 70 now and still have not found a right
answer to when you should take it. I am sure that someone that is working should put it off but other then that I have not seen a definitive answer as
to when to take it.
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pacificobob
Super Nomad
Posts: 2297
Registered: 4-23-2006
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do the math, if you have enough $, then go. sounds like you have a union negotiated pension, good for you! my union negotiated a great pension for
me, and i went out at 55. i left money on the table, but who cares? time is what counts. cheers.
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chippy
Super Nomad
Posts: 1714
Registered: 2-2-2010
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| Quote: Originally posted by paranewbi | It's been hard to teach my adult kids that it's not how much you make, it's how much you spend. Spend one dollar more than you make and your broke.
Get a trailer any size you can handle. Use the first bricks and concrete to build a garage with a bathroom and kitchenette to put it in. Then figure
out what you want to add on if anything.
At $1000 a month SSI from 62 to 66 you will miss $48,000. Wait till 66 and it will take 8 years to get it back at $500 more a month, 10 years at $400
more a month. If you can save it, invest it. Remember that's also $1000 a month you have to cover out of your pocket and that amounts to
$92000 combined loss (no SSI to 66, plus cover money) and that will actually take 16 to 20 years to recoup from your 'greater' amount starting at 66.
But don't listen to me do what your heart tells you and that will travel the 20 centimeters it is from your heart to your brain in seconds. Of course
some take an eternity to travel that distance. |
To the OP yes retire already.
Great advice to your kids. I have friends and family that still don´t get it. Debt is not your friend!
I don´t agree on the SS though. I have had 3 friends kick the bucket at 2x62 1x63. Take it as soon as you can get. You never know when your time is
up.
My long term plan never involved SS and I retired in my 40s  . God I´m glad I
did.
[Edited on 12-21-2016 by chippy]
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BajaBlanca
Select Nomad
Posts: 13194
Registered: 10-28-2008
Location: La Bocana, BCS
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your biggest concern is health insurance! make sure it is primo and the rest you can make work.....expenses are very different down south and with
time you get the hang of it.
Les "retired" me at 49 - I am such a lucky lady!
Best of luck in making that decision and hopefully you will be visiting us in La Bocana one of these days.
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BigBearRider
Super Nomad
Posts: 1299
Registered: 4-30-2015
Location: Big Bear, Punta Chivato, and Cabo
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Mood: 
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YES!
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Sweetwater
Senior Nomad
Posts: 915
Registered: 11-26-2010
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Mood: chilly today hot tomale
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None of us here can walk in your shoes.
We can always tell you our story but you're in charge of writing your own story.
Just know that for every door that closes, a new one will open.
We don't know what will work for you and you probably don't either.
Enjoy yourself along the way and don't double down on questions, choose your path, commit and live in that reality.
I've never met a patient in health care who wished they had worked longer.
Everbody\'s preachin\' at me that we all wanna git to heaven, trouble is, nobody wants to die to git there.-BB King
Reality is what does not go away when you stop believing in it. -Philip K Dick
Nothing is worse than active ignorance. Johann Wolfgang von Goethe(1749-1832, German writer, artist and politician)
When choosing between two evils, I always like to try the one I\'ve never tried before. - Mae West
Experience is what keeps a man who makes the same mistake twice from admitting it the third time around.
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fishbuck
Banned
Posts: 5318
Registered: 8-31-2006
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| Quote: Originally posted by soulpatch | I retired at the age of 50.
I could have bumped my retirement almost 35% by working until I was maxed out.
The hell with that.... I have been living my dream for over 4 years now and manage to support my family on 40% less than I made up north.
Time is finite. |
That was a brave decision. I admire your faith in yourself. I starting to remember that I had it once too.
"A ship in harbor is safe, but that is not what ships are built for." J. A. Shedd.
A clever person solves a problem. A wise person avoids it. – Albert Einstein
"Life's a Beach... and then you Fly!" Fishbuck
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fishbuck
Banned
Posts: 5318
Registered: 8-31-2006
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| Quote: Originally posted by bajaguy | Go for the retirement!! Buy yourself an 18 foot camping trailer and chill for a while. Sit on your property and enjoy the views
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I am now an expert on 18 foot trailers. They have evolved alot. Very comfi looking.
"A ship in harbor is safe, but that is not what ships are built for." J. A. Shedd.
A clever person solves a problem. A wise person avoids it. – Albert Einstein
"Life's a Beach... and then you Fly!" Fishbuck
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fishbuck
Banned
Posts: 5318
Registered: 8-31-2006
Member Is Offline
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| Quote: Originally posted by BajaRat | Life is short, and if your fortunate enough to be able to live comfortably on your retirement plan well the sooner the better.
Imagine all the cool places you can visit without the constraint of that four letter word schedule.
Like tin boat camping in that awesome bay.
Have fun, enjoy and all the best
Lionel |
I had a Gregor 16 baja for a while. That was fun.
"A ship in harbor is safe, but that is not what ships are built for." J. A. Shedd.
A clever person solves a problem. A wise person avoids it. – Albert Einstein
"Life's a Beach... and then you Fly!" Fishbuck
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fishbuck
Banned
Posts: 5318
Registered: 8-31-2006
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Yep. But since then I visited my camp, And the company is offering a second VLO. Also I turn 58 in 2017 and am eligible for full pension.
The 1st post was triggered by that I had finished paying off my lots this July. When I was there over thanksgiving I stopped in Ensenada and paid my
attorney to open the fidiecomiso.
So all the stars are aligning. I didn't plan it this way but I might now.
"A ship in harbor is safe, but that is not what ships are built for." J. A. Shedd.
A clever person solves a problem. A wise person avoids it. – Albert Einstein
"Life's a Beach... and then you Fly!" Fishbuck
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fishbuck
Banned
Posts: 5318
Registered: 8-31-2006
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I have started thinking this way. It costs money to make money. After I subtract all the "overhead" I wonder if it's worth the struggle anymore.
| Quote: Originally posted by Bob and Susan | work is about money...
you need to look at what you net now then
what "the man" will pay you if you stay home (retired)
the difference is what you actually make...divide that by 40hours
and that your new hourly wage if you stay
I've seen guys work for 25 cents an hour thinking they were making MORE money staying at work
do the math for you |
"A ship in harbor is safe, but that is not what ships are built for." J. A. Shedd.
A clever person solves a problem. A wise person avoids it. – Albert Einstein
"Life's a Beach... and then you Fly!" Fishbuck
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fishbuck
Banned
Posts: 5318
Registered: 8-31-2006
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My thinking exactly. While I still "got it"...
"A ship in harbor is safe, but that is not what ships are built for." J. A. Shedd.
A clever person solves a problem. A wise person avoids it. – Albert Einstein
"Life's a Beach... and then you Fly!" Fishbuck
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fishbuck
Banned
Posts: 5318
Registered: 8-31-2006
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This is right on.
I was thinking the garage just like this.
The money thing is always a challege. I always seem to spend more than I make and I'm never quite sure how or why. But like a good hamster I just keep
spinning my wheel until I wear myself out.
Maybe it's time for this little hamster to jump off...
I'm taking my SS at 62. When you get that old it's not the right time to delay your gratification.
May I have 1 piece of candy now please.
| Quote: Originally posted by paranewbi | It's been hard to teach my adult kids that it's not how much you make, it's how much you spend. Spend one dollar more than you make and your broke.
Get a trailer any size you can handle. Use the first bricks and concrete to build a garage with a bathroom and kitchenette to put it in. Then figure
out what you want to add on if anything.
At $1000 a month SSI from 62 to 66 you will miss $48,000. Wait till 66 and it will take 8 years to get it back at $500 more a month, 10 years at $400
more a month. If you can save it, invest it. Remember that's also $1000 a month you have to cover out of your pocket and that amounts to $92000
combined loss (no SSI to 66, plus cover money) and that will actually take 16 to 20 years to recoup from your 'greater' amount starting at 66.
But don't listen to me do what your heart tells you and that will travel the 20 centimeters it is from your heart to your brain in seconds. Of course
some take an eternity to travel that distance. |
[Edited on 12-22-2016 by fishbuck]
"A ship in harbor is safe, but that is not what ships are built for." J. A. Shedd.
A clever person solves a problem. A wise person avoids it. – Albert Einstein
"Life's a Beach... and then you Fly!" Fishbuck
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fishbuck
Banned
Posts: 5318
Registered: 8-31-2006
Member Is Offline
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Thank you all for indulging me on this.
Sometimes things playout a certain way. Maybe this is one of those times for me. Maybe this is what it's all been about for me and maybe always has
been.
It's starting to be revealed to me...
It's an imperfect plan for an imperfect ... old buck.
And thank you for the advice and kind words too.
Now back to my camper and tin boat research...
"A ship in harbor is safe, but that is not what ships are built for." J. A. Shedd.
A clever person solves a problem. A wise person avoids it. – Albert Einstein
"Life's a Beach... and then you Fly!" Fishbuck
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David K
Honored Nomad
Posts: 64723
Registered: 8-30-2002
Location: San Diego County
Member Is Offline
Mood: Have Baja Fever
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Start living Mike! Life begins in Baja! Enjoy life!
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kevin_in_idaho
Nomad
Posts: 143
Registered: 12-13-2016
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| Quote: Originally posted by fishbuck | Thank you all for indulging me on this.
Sometimes things playout a certain way. Maybe this is one of those times for me. Maybe this is what it's all been about for me and maybe always has
been.
It's starting to be revealed to me...
It's an imperfect plan for an imperfect ... old buck.
And thank you for the advice and kind words too.
Now back to my camper and tin boat research... |
My story is similar to yours and others. I was offered a "package" at age 50.5837 years :-). I didn't think I could make ends meet. I took the
package and looked for a new job. I couldn't find one but found out that I was ok due to planning since I graduated from college. The plan was to
retire at 50, I just didn't think I could. I could, you can (I think) esp. with a pension. I didn't get anything other than a buyout which was about
1 year salary. My advice? Buy your toys before retiring. I do have to think about expenditures a lot more now than I used to. Health insurance
isn't that bad really once your income drops (you get some assistance right now).
Go for it! If it doesn't work out, you could get another job but I think you'll like it. The best thing? You wake up and literally don't know what
day of the week it is!
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Kgryfon
Senior Nomad
Posts: 624
Registered: 1-27-2009
Location: East Bay, CA
Member Is Offline
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If you take from your 401K before 59 1/2 the IRS sets a limit on how much you can take without penalty, and you have to stay with that amount for 5
years. Or, if you can stick it out until 59 1/2 you can do whatever you want with your 401K. If your golden parachute gives you a years worth of
separation pay you could probably make it to 59 1/2 without having to hit the 401K.
I'm on almost the exact same timeline as you, and am also researching trailers and boats Maybe I'll see you there! No early retirement offer in the works for me, but I wouldn't be at all surprised if one was around the
corner. Go for it - tomorrow is never promised - Happy trails!
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Lee
Ultra Nomad
Posts: 3494
Registered: 10-2-2006
Location: High in the Colorado Rockies
Member Is Offline
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Baja will cure some things but not all.
I see as many people down here with as many problems as they have up North. I sometimes wonder why there are so many alcoholics living down here.
I haven't read the responses on this thread. Have you talked with a financial planner? I have one of the best you can talk to by phone -- u2u me
for his name and number. He can give you a $$ road map which is what you need down here.
I'm in Baja for the surf and fish -- food is great too. When that's off, and it's been off in past years, I think of moving on. It's best to have
more options than reading and hanging out when the fish aren't biting.
Until you live down here, and recognize the down side, you won't know the experience. Living can be Baja, but there's a price you still need to pay.
Yearly vacations aren't what I'm writing about. Vacationers know the tourist side of MX.
Sounds like you're coming down. Don't have all your eggs in one basket.
US Marines: providing enemies of America an opportunity to die for their country since 1775.
What I say before any important decision.
F*ck it.
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chuckie
Elite Nomad
Posts: 6082
Registered: 2-20-2012
Location: Kansas Prairies
Member Is Offline
Mood: Weary
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I kinda just wore it out after 30+ years and some health issues....Fishing went away, and Been there done that set in....So I left...
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