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Lann

Retirement and $

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Lann

Today the swedish system builts on retirement at age 65, and i imagine that once(if) i get there it will have moved a few years up.

I also estimate income will drop to about 50% of ones salary while working, assuming i work up til then.

So preparing finacially for retirement is a must. That will likely include stocks and/or funds.

Are there anyone else who look into these type of areas, like stocks and the market, and strategies preparing for retirement? 

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LimeGreenLegend

I’ve just consigned myself to the fact that I will never own my own home and will be working until I die.

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Con
2 hours ago, Lann said:

Today the swedish system builts on retirement at age 65, and i imagine that once(if) i get there it will have moved a few years up.

I also estimate income will drop to about 50% of ones salary while working, assuming i work up til then.

So preparing finacially for retirement is a must. That will likely include stocks and/or funds.

Are there anyone else who look into these type of areas, like stocks and the market, and strategies preparing for retirement? 

One of my plans this year is to buy an investment property. I never really had the resources to invest in the stock market during the tech boom so I missed out on that and when I was single I had saved enough to invest in the markets, the company I was working for merged and moved out of state forcing me to cash in my 401K way way prematurely, but I saved more only to have the recession in 2007 take a hit on me and was the final nail in the coffin and is why I rather buy property and rent it this time around. I do have a 401k but it’s still hard to get financial guys to care when they see you as a peasant compared to other larger portfolios. Investing always left a bad taste in my mouth because I never came across a person that genuinely cared about my accounts. 

18 minutes ago, LimeGreenLegend said:

I’ve just consigned myself to the fact that I will never own my own home and will be working until I die.

Not unless you write that amazing script inside you. 

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SINISTER120

I have zero plans in place for retirement and a savings account with 2 bucks in it. I will work until I can’t work any longer. After that I will live in a cave or something. 
 

If I was smart I would have a fat savings account. Never saw a point though because nothing says I will even live long enough to retire. Then you just leave behind a large amount of cash for your family to fight over. 

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Lann
2 hours ago, Con said:

One of my plans this year is to buy an investment property. I never really had the resources to invest in the stock market during the tech boom so I missed out on that and when I was single I had saved enough to invest in the markets, the company I was working for merged and moved out of state forcing me to cash in my 401K way way prematurely, but I saved more only to have the recession in 2007 take a hit on me and was the final nail in the coffin and is why I rather buy property and rent it this time around. I do have a 401k but it’s still hard to get financial guys to care when they see you as a peasant compared to other larger portfolios. Investing always left a bad taste in my mouth because I never came across a person that genuinely cared about my accounts. 

Not unless you write that amazing script inside you. 

I have no idea about how a 401K works. Over here part of our higher taxes along with fees your employer pays secures a state pension of about 50-60% of your salary. Even if that is a good start its also a bit uncertain as its depending politics, and its nothing I would want rely upon alone. 

Properties is likely a solid investment, depending the area. Especially if the rates stay low for the years to come. And even if prices on properties would drop you still have a solid income from the rent. But it does take alot money to get going.

A simple yet maybe a bit ambitious plan i have is to pay of the loans on my home. That would make a big difference. 
 

A monthly amount into a diverse fund will over time give a way better return than a savings acount. I just wish i would have started that 20 years ago. 

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DavidCore89

Paid off my debts in the summer, the first time in my life debt free, happy with that for now :)

Properties is probably a good shout. Demand will always grow.

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Six-times Jump Rope world champion // Three-times Tic-Tac-Toe runner-up // Two-times Hopscotch world champion // Two-times Wheelbarrow Race world champion // One-time Marco Polo runner-up // One-time Musical Chairs European champion.

Owner of a 25-metre swimming badge.

"Finishing second means you are the first person to lose"  - Gilles Villeneuve.

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Squirrel
7 hours ago, LimeGreenLegend said:

I’ve just consigned myself to the fact that I will never own my own home and will be working until I die.

By the time we get to retirement age there won’t be a retirement age! 

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Con
35 minutes ago, Squirrel said:

By the time we get to retirement age there won’t be a retirement age! 

So true, for some of you younger folks. 

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DavidCore89
2 hours ago, Squirrel said:

By the time we get to retirement age there won’t be a retirement age! 

Probably spot on!


Six-times Jump Rope world champion // Three-times Tic-Tac-Toe runner-up // Two-times Hopscotch world champion // Two-times Wheelbarrow Race world champion // One-time Marco Polo runner-up // One-time Musical Chairs European champion.

Owner of a 25-metre swimming badge.

"Finishing second means you are the first person to lose"  - Gilles Villeneuve.

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Jjss924
Posted (edited)

You need some Dave Ramsey.

Seriously though, whatever you go with, I would take lump sum payments rather than annuities. Invest it yourself. 

I'm not sure how your pension and retirement plans work over there. I don't trust my government or any employer to handle investments for me.

If you want to go from single home owner to multi home landlord, I would pay off your house first. 

 

Edited by Jjss924

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Spinnaker1981
On 1/4/2020 at 3:48 AM, Jjss924 said:

You need some Dave Ramsey.

Seriously though, whatever you go with, I would take lump sum payments rather than annuities. Invest it yourself. 

I'm not sure how your pension and retirement plans work over there. I don't trust my government or any employer to handle investments for me.

If you want to go from single home owner to multi home landlord, I would pay off your house first

 

I don´t think that is a wise financial advice, at least in this side of the pond! I would say your money is better of invested in something that has more profit than the interest rate you are paying, specially because usually first home interest rates are far lower than when buying for investment.

Also, buying properties cheap for investment is far easier when you have the money pronto (even if you later do a loan on the property itself), when you say: - "I can pay you X right now, lets sign on it" works  lot cheaper than: - "I will talk to my bank and get back to you"... 

 

 

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JustHatched

I have no plan, will work till I die or am a cripple at which point I have made it clear I will sponge off my kids....

 

Seriously though, farm land is the plan, crops make money most of the time. All you need to do is own the land and get someone to farm it, split the cost and profit 50/50. Right now off the field we have it makes enough to cover taxes and propane for the year and that is a huge thing to for the most part not to have to worry about. By the time I retire my house will be 100% solar/wind powered and will sell the extra power to the power company, and I have no plans to buy new cars ever. SO my plan is more about reducing what I need to earn to cover the bills rather than have to continue to worry about getting more

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The funniest thing about this particular signature is that by the time you realize it doesn't say anything it's to late to stop reading it!!

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