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  • #16
    LOL, yeah that Race Car and Old Sports cars may take a little budget!! I got rid of both 944 turbos, race car and trailer in 2009, street car in 2011. I'm not sure on the boat restoration but maybe a 1969 to 1972 Corvette restoration in there somewhere or buy something super clean after 1998 and drop a Lingenfelter 427 in it or drop the 427 in the 72, BB hood with modern features to drive(brakes!). Don't care about the classic restoration, I tend to "drive em like I stole them".

    Our plan also is to live on the base retirement the first year(fixed), just to see how we fare. As mentioned before, we just plan to take profit off the investment account after that. If we don't need it all, then we'll start a ROTH, as income will be down in the range to do that. Good comments, congratulations to all have retired and ENJOY!!
    1993 25th Anniversary Limited ProStar 190, #17

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    • #17
      Originally posted by bret View Post
      ...
      Questions for those who retired recently:
      1. What did you NOT expect?
      2. What little expenses did you forget?
      3. Are you bored, do you need to go to work at Lowes to have something to do?
      4. What did you get right?
      5. If you traveled for work, how are you and the wife getting along now that you are home 24/7? Cause I was gone half the year working in the oil industry 21/21 or 28/28.
      6. Medicare A,B, D - sort of confusing, dental plan - how much?
      I retired at 58 about two years back. Everyone's case is different. Happily divorced. Staying single and independent as honesty it's more who I am.


      #1: For it to be everything I expected/wanted. I had spent my entire life from even before 16 y/o working. I was ready to no longer "work for the man".

      #2: Pretty much nothing. Just looked back at my finances logged as I put everything against the credit card or atm. If anything you should be able to eliminate or reduce expenses. I've always been a less is better person. I only want the things I actively use around as all else is clutter in my life.

      #3: No. No and hell no. Even on a day I choose to do almost nothing (house cleaning day) I'm super happy. I worked at a major computer equipment vendor in technical sales for 20 years. I had offers for re-employment from the reseller community before I actually had my 'voluntary separation' package officially in hand LoL. A year+ later I got a call from a prior coworker who moved to the reseller community trying to convince me to go back to work. Sure, travel, dinners out, expense accounts, etc. Could afford to buy a new boat each year, without selling the old one. None of that would make me happier than I am retired.

      #4: Deciding to jump. Pull the plug. Not look back. 'What if' can keep you from doing what needs done. At times I feel it's best not to overthink some things too much.

      #5: Before me and the ex changed to be incompatible with each other, we were strong together but even more formatable when we decided to divide and conquer. The individuals we once were would have handled that easily. Current situation obviously makes that a non issue.

      #6: What you're really worried about is gapping until Medicare. This will require homework on your part. Go to your state's open market healthcare website. In CA I'm able to plug in my numbers and get estimates, For dental you will pay more compared to employer plans but being low cost (and actually low benefits - dental insurance is so inadequate) $45 vs $15 monthly is mute.

      Now for the bonus tip: There is an item in the Fed tax code I feel many overlook. You can earn up to $40k in long term investment income taxed at 0%. However this is reduced by every dollar earned otherwise (short term, wages, pension, 401k, etc). I kept a portion of my 'voluntary separation' bootie in cash plus some wise choices of 'tax lots' when selling out of the personal investment accounts. Since the open marketplace health plans are subsidized (now by the US Gov) based upon your income I get the same KP health plan (maybe a little better) I had for years from my employer for $0/mo now. Last year I was paying $1/mo but CA decided to kick in the $1 - smart to eliminate processing costs IMO. I could have recognized close to $40k in income and still get free medical care. However I wanted to do this - My 2021 US Tax paid/owed is exactly $0. After years of being raped by the US and State and by the Medical Providers I feel zero remorse in that. BTW that plan without subsidy nor employer contributions is $880/mo.

      Oh, when I'm not enjoying doing nothing I'm usually enjoying riding my dirt bike. Have reservations at my favorite Motel 6 at Oceana Dunes (Pismo Beach) this week where I plan on doing some sand surfing with a paddle tire.
      Last edited by GoneBoatN; 02-07-2022, 11:50 AM.
      I love to travel, but hate to arrive. ~~ A. Einstein
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      Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside, in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming, Wow! What a Ride! ~~ Hunter S. Thompson
      ---
      My wakeboard is calling, and I must go ride! ~~ Me
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      It is better to light one small candle than to curse the darkness. ~~ Chinese fortune cookie

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