Quote:
Originally Posted by BlueStreak
The whole world wants you to work until you die, Barney. The government wants to spend your SS money, the bankers want to keep your 401k, Republicans hate it when ANYONE stops working (Except themselves, of course, because they "earned" it and you didn't.  ), Democrats want you to keep paying taxes.....................
F**k'em all, Barney. You make up your mind when you're ready and just do it.
Dave |
Yes they all want your money and don't want to payout SSI if at all possible. You and I Dave might not get it at all unless they do some drastic revamping of SSI.
Quote:
Originally Posted by Oerets
I used some of my retirement funds to purchase a rental property. The adviser wanted me to borrow it instead. Pay interest to me along with paying it back.
I told him that the amount needed would earn me a couple of hundred $ a month right now over what it is earning now with them. No payment to make either and own something other then paper or in the ether.
After it was over he admitted doing the same thing too!
Barney
|
Diversify Barney, I can't express enough about hard assets. Don't care what they are but they need to be physical. Real Property that you own hold and control without any third party risk.
You said this,
"They want me to keep it in a fund and not spend it. EVER! They don't want to pay it out but keep it, so they can keep making money off of it."
Glad you see that they will never recommend anything that they can't control and earn from. They never tell you to buy/invest in physical property like the metals. They will be more than happy to take your earning and put it in gold ETF's so that your exposed to it. They won' tell your going to be taken to the cleaners though and they get paid anyway. Metals are only one hard asset to consider in Real Property.
Too much in paper assets in this volatile economy could and I see it as will be a disaster. I also noticed you never mentioned anything about Semi-Retirement which is an avenue to look into. Collect SSI and generate minimal income for maybe 5-8 years.
I have also been thinking of relocating to a cheaper economy when I retire. Where I am is good to work because the cost of living is high and is where the money is at. Once the earnings stop I don't think the need to stay in a high cost of living environment would be the best move. All your retirement funds will go further relocating.