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    Retirement funding

    The current stock thread has me wondering……those of y’all in or near retirement, are you using/planning to use the funds accumulated during your career to fund your annual living expenses or do you or plan to live off of the income your nest egg produces each year without actually drawing down the principal?


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    #2
    I do not plan to touch my ETrade account, ever. On the other hand, I have two pensions and SS. I also have gold/silver and too much properties.

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      #3
      I have a pension and I also have a 457 plan. I usually draw 10grand a year from the 457 but I turn 71 next year and I'll have to take scheduled discernment then. I lost around 70,00 this year so I moved most of my money into stable cash funds. I don't need the 457 to live on but it would be nice.

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        #4
        I get a retirement check already from my previous employer and at 65 will start drawing my SS. At that time I'll decide weather to keep working or not and we will have what our nest egg produces each year to help out. Or that's the plan if like always I'll be working until I die.

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          #5
          I plan on living on the interest or income off my nest egg.
          Dropping stock market and raising interest rates are a double edge sword for me. Lucky I have almost all of my money out of the market right now.

          If I can make 4 to 6% off what I have acquired I should be good and will be able to live off the interest/income of my savings; If not I will be diving into the principal.

          2 years away from the big R if Biden don't fock it up to bad!!

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            #6
            I am less than a year from retirement (I'm 59). Actually, I could pull the trigger whenever I want to. Our plan was to build up 3 years of cash in case the market crashed; as it is doing. We will live off of cash reserves until the market recovers. Once it does, we will pull from personal investments first for expenses and replenish cash. During those years (low income) we will move money from IRAs to Roth IRAs. Plan is to postpone SS until 70. We have little to no pensions. Our investments will last us well past when SS kicks in. Then we will switch to living off of RMDs at 72 and reinvesting the extra we don't need.

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              #7
              I’ve been retired for 4 months and have not touched my retirement savings (401k), but I plan to some day. However, I have a pension that covers my nut. I hope to only use some of the growth and not rely on the principle.

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                #8
                I'll have the 3 legged stool. state retirement, SS & IRA account. the IRA account will be utilized as needed. shouldn't be to much until RMD hits.

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                  #9
                  Interest off of money in pension and 401K. Plus, SS.

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                    #10
                    Retirement funding

                    I was hoping to retire in 1-2 years but most of my retirement is tied up
                    in the market. I have about 2 years worth of cash before I would touch my retirement account. I am down about 20% and that was my buffer so if it gets any worse I will add to my 1-2 year plan and work a little longer. In my profession we didn’t have much of a retirement system so it was all on my own. If I can get 6% return I wouldn’t have to touch my principal.


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                      #11
                      I’m only 48 but once I get kids out of college in about 8 more I may call it quits
                      Currently have 2 single family rentals & 1 multi-family rental. All have done very well
                      I may do consulting or contract myself in 8 years in the plastics manufacturing field
                      Other than that I’ll have tax deferred IRA, Roth IRA & tax deferred 401k
                      Probably will let them all grow while I live off rental income

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                        #12
                        Why limit yourself to spending only the money you make off interest or dividends? You earned and saved it, why not live it up a little. My plan is to spend every penny and have the last check I write before I die, bounce at the bank!!!

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                          #13
                          Originally posted by Dr. Evil View Post
                          Why limit yourself to spending only the money you make off interest or dividends? You earned and saved it, why not live it up a little. My plan is to spend every penny and have the last check I write before I die, bounce at the bank!!!
                          That's a great plan "if" you knew when that day was coming. Is it next week or 25 years from now?

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                            #14
                            I’m a part time gigolo so………..

















                            It is so hard to live on $20 a month nowadays….

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                              #15
                              Retiring the first week of July - 17 working days left. Started getting serious about retirement a couple of years ago so focused on eliminating debt and downsized. Fortunate to have a couple of pensions so hope to let investments ride this out (friggin Brandon!) and probably file for SS sometime next year. With that said somewhat disconcerting that Appraisal Districts want more along with all of this inflation - oh well, thank you Jesus that we have been blessed and with more than we deserve.

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