Financial regrets in retirement?

[BigL]

LOL, nah that never registers when "I should have started earlier" coincides with SXS, lifted trucks, and chasing women

I'm 51 and chasing women is part of my retirement plan. Looking for that 35-41yr old who in 10 years will pay all the bills while I retire and hunt and fish all I want. I can stay on their insurance and not worry about health care too.

I understand the car, truck, rv, etc. Depreciating assets that has maintenance. I don't want any of that into retirement

[mdb]

Tagged.
Calling it on 11-1-22.

[bullets13]

My wife and I are making smart decisions now so that we don't have to make difficult decisions later. I'll retire in 13 years at the age of 53. We've paid everything off early that we can, when we can. I don't have a $70K bass boat or an $80K truck, and we don't go on extravagant vacations every year. We took out a 15-year mortgage on our home instead of 30, and it'll be paid off in 12 1/2. We save all that we can. I think a better question for the OP to ask would be what big purchases or expenditures that people who are close to retiring regret making, or that might delay their retirement.

[gingib]

Who in the hell can have a million dollar retirement on a regular jib, with no kind of pension. All mine has is a regular 401k, im still about 25 yrs from any kind of retirement. I cant figure up any way to get that kind of money before then. U must be talking about the ones who have a good plan like a cop, are firefighter. All that compound interest adds up quick.

The problem is not how much you make, but how much you save!

I don't have a pension and am the same length away from retirement likely as you.

Can't live like everyone else and gotta invest and stock it away earning 7-10% annually. No car payments helps

[BigL]

How much actually cash in interest per month do you think 1 million earns on average?

And they count on it not realizing that rates can fall. Would not have made much on interest the last 5 years. Even bonds were hard to get investment grade with good payouts. With rising rates they may more but then everything costs more too.

Maybe find some muni bonds for 3% and make 30k/annually tax free. Nice supplement to hopefully other income sources but not enough to live on if you have any of the debts/expenses that were listed earlier.

[miket]

You could also easily spend half that on healthcare

And the longer I wait, the quicker it will go. Work 20 more yrs and have several million ( maybe ) and be broke up and spend it all on healthcare, or work a couple more years and have a ( hopefully ) decent run before the health issues pop up?

For me, that is the question. I would rather live well for the next 15yrs and die broke at 62 than work 20 more years and die rich at 80.

I have seen too many working men die within a few years of retirement, and couldnt do anything anyway because they were to worn out. Maybe its different for office types. I dont know.

[lck90]

I'm 51 and chasing women is part of my retirement plan. Looking for that 35-41yr old who in 10 years will pay all the bills while I retire and hunt and fish all I want. I can stay on their insurance and not worry about health care too.

I'm 32 and like your way of thinking!

[eradicator]

I'm 51 and chasing women is part of my retirement plan. Looking for that 35-41yr old who in 10 years will pay all the bills while I retire and hunt and fish all I want. I can stay on their insurance and not worry about health care too.

I understand the car, truck, rv, etc. Depreciating assets that has maintenance. I don't want any of that into retirement

I'm not sure you understand how 'younger women' work

[AntlerCollector]

.

[AntlerCollector]

Who in the hell can have a million dollar retirement on a regular jib, with no kind of pension. All mine has is a regular 401k, im still about 25 yrs from any kind of retirement. I cant figure up any way to get that kind of money before then. U must be talking about the ones who have a good plan like a cop, are firefighter. All that compound interest adds up quick.

It can be done just by investing in a 401k early and not touching it.

It can be done later too, but certain sacrifices have to be made.

If you’re living paycheck to paycheck then you’re spending too much or you need a better job.

I personally am debt free and have been for a while. Just light bills, deer leases, and taxes.

I also own a 25 year old 4 wheeler and not a $20,000 SxS like you do.

It’s all about personal choices.

[miket]

I'm not sure you understand how 'younger women' work

[bullets13]

And the longer I wait, the quicker it will go. Work 20 more yrs and have several million ( maybe ) and be broke up and spend it all on healthcare, or work a couple more years and have a ( hopefully ) decent run before the health issues pop up?

For me, that is the question. I would rather live well for the next 15yrs and die broke at 62 than work 20 more years and die rich at 80.

I have seen too many working men die within a few years of retirement, and couldnt do anything anyway because they were to worn out. Maybe its different for office types. I dont know.

The problem is what happens when you're 62 and broke but then live until you're 80?

[miket]

The problem is what happens when you're 62 and broke but then live until you're 80?

62yrs is a good run.

[eastover53]

Wont be blowing it on a hospital stay thats for sure! Would rather die.

When I can't wipe my own butt, it's time to check out.

[bullets13]

It can be done just by investing in a 401k early and not touching it.

It can be done later too, but certain sacrifices have to be made.

If you’re living paycheck to paycheck then you’re spending too much or you need a better job.

I personally am debt free and have been for a while. Just light bills, deer leases, and taxes.

I also own a 25 year old 4 wheeler and not a $20,000 SxS like you do.

It’s all about personal choices.

This. I get 10-12 years out of my pickup trucks, not 2-3. I buy a new phone every 3-4 years, not every new version. My boat cost me the princely sum of $11,000. It's crazy the amount of people I know who have more invested in vehicles/toys than I do in my house (which is a nice house), when my wife and I make more than them.