Investment year in review.

[phade]

16 minutes ago, Biz-R-OWorld said:

same as you man. Still holding/adding to ETF's and mutual funds but nothing in individual stocks. I'm still HODLing my cardano too lol.

Our company stock has been doing well. I have a position there too that I pretty much HODL as well - not enough to make me Enron 2.0 should crap hit the fan, but enough that it raises eyebrows for me when I see the price growth. RSUs vest August 1-15 for me this year. To the damn moon...8 new price targets released this week with 15-20% upside on top of the gains already. 

[BizCT]

10 minutes ago, phade said:

Our company stock has been doing well. I have a position there too that I pretty much HODL as well - not enough to make me Enron 2.0 should crap hit the fan, but enough that it raises eyebrows for me when I see the price growth. RSUs vest August 1-15 for me this year. To the damn moon...8 new price targets released this week with 15-20% upside on top of the gains already. 

that's awesome. I don't have any company stock. Most of my 401K is in CISGX, which has been great since 2018 for me.

[phade]

4 minutes ago, Biz-R-OWorld said:

that's awesome. I don't have any company stock. Most of my 401K is in CISGX, which has been great since 2018 for me.

RSUs are the famed golden handcuffs. Love/Hate!

We run through Fidelity and we have a decent plan selection. A good chunk of mine is in index but the rest is heavy into the higher risk higher growth focus. Large cap crushed it for me the past year or so.

[Moho81]

My 401k is up 30% over the last 12 months and up 11.87% in 2021. I can retire at 65 and be fine according to the built in financial tracker.

[phade]

3 minutes ago, Moho81 said:

My 401k is up 30% over the last 12 months and up 11.87% in 2021. I can retire at 65 and be fine according to the built in financial tracker.

I couldn't imagine aiming for 65, but it's dang hard to get done securely, earlier. 

[phade]

I'm seeing alot of info saying to move to larger cap, high end tech and behemoths. The Russell 2000 compared to the larger indexes isn't awesome. I'm contemplating doing a transfer of my small cap funds to large cap.

 

[Moho81]

1 minute ago, phade said:

I couldn't imagine aiming for 65, but it's dang hard to get done securely, earlier. 

Are you saying 65 is earlier or later than what you have in mind for yourself? 

[phade]

4 minutes ago, Moho81 said:

Are you saying 65 is earlier or later than what you have in mind for yourself? 

I have zero desire to still be working at 65, but acknowledging just how difficult it actually is to get done earlier in today's world.

My grandfather retired at 52 from Kodak with a buyout at his leadership level. Never worked a day again and that painted a picture that made it difficult to want to work to 65 (outside of passion pursuits). Moving that needle from 65 to 55 is very very difficult.

[Moho81]

20 minutes ago, phade said:

I have zero desire to still be working at 65, but acknowledging just how difficult it actually is to get done earlier in today's world.

My grandfather retired at 52 from Kodak with a buyout at his leadership level. Never worked a day again and that painted a picture that made it difficult to want to work to 65 (outside of passion pursuits). Moving that needle from 65 to 55 is very very difficult.

Agreed, I wish I could retire earlier but unless you get into a good state or federal job it's incredibly difficult. Even the major corporations now don't have the same pensions as they once did. 

Getting into a retirement fund as soon as I started working was probably the only smart financial decision I have ever made in my life. 

[johnplav]

6 minutes ago, Moho81 said:

Getting into a retirement fund as soon as I started working was probably the only smart financial decision I have ever made in my life. 

Yeeeep.  I preach that to every young person I hire. 

[BizCT]

26 minutes ago, phade said:

I have zero desire to still be working at 65, but acknowledging just how difficult it actually is to get done earlier in today's world.

My grandfather retired at 52 from Kodak with a buyout at his leadership level. Never worked a day again and that painted a picture that made it difficult to want to work to 65 (outside of passion pursuits). Moving that needle from 65 to 55 is very very difficult.

My grandfather (Mom's side, WNY guy) retired at 59 after being a chemist for Union Carbide for 30+ years (in North Tonawanda, then Westchester).

My Dad retired at 59 after 41 years with Union Carbide/Linde/Praxair. He never went to college, started at 18.

Neither ever made much money, but both always saved as much as they could. Especially after paying off their mortgages quickly.

I was always shooting for 59 as well. I live well below my means, and save a lot for retirement. But I always just used the 8% rule. Nowadays, 8% seems low. If we keep going at 10-12%, I think I got a shot at my new goal which is 54. The gravy would be if my wife goes back to work someday. 

 

[Fletch]

I'm shooting for 59 as well Biz. If I made gains like the last year no problem. I got a bad feeling there is a big correction coming and I am really weighing moving a lot of my 401k and funds to safer pastures soon...

[Moho81]

Now you guys got me thinking and I'll have to mess with the numbers to see how much more I will have to contribute in order to retire at 59. 

[9jNYstarkOH]

24 minutes ago, Biz-R-OWorld said:

My grandfather (Mom's side, WNY guy) retired at 59 after being a chemist for Union Carbide for 30+ years (in North Tonawanda, then Westchester).

My Dad retired at 59 after 41 years with Union Carbide/Linde/Praxair. He never went to college, started at 18.

Neither ever made much money, but both always saved as much as they could. Especially after paying off their mortgages quickly.

I was always shooting for 59 as well. I live well below my means, and save a lot for retirement. But I always just used the 8% rule. Nowadays, 8% seems low. If we keep going at 10-12%, I think I got a shot at my new goal which is 54. The gravy would be if my wife goes back to work someday. 

 

Linde and Praxair have now merged together under the Linde name. Retiring from Linde at 59 seems to be a good goal to me.

[phade]

I'm aiming for 55 to be done with my career and likely picking up part time work or simply running some degree of individual business. By retirement withdrawal age, I'd like to be pencils down.

Biggest gaps right now for me are establishing enough passive income to cover that gap of withdrawal time/lost backend investments into the funds, and then healthcare, since I carry it in our family.

We have a pretty modest home for our income size and starting to live pretty well below our means. That is important IMO.

[steve863]

I too, have ZERO desire to be working at 65 so here's a question.  How much do you guys think one would need to have in their 401K to retire at somewhere between 55-60?  The healthcare insurance one would have to cover for themselves at that age is obviously a big challenge for most since one will have to pay thru the nose for private coverage.  Way worse if you need family coverage.  If one lives modestly (and I always have) would $1M in your 401K be enough to get you thru the rest of your life with the SS you'd eventually and hopefully be entitled to added in?

 

 

 

[BizCT]

55 minutes ago, steve863 said:

I too, have ZERO desire to be working at 65 so here's a question.  How much do you guys think one would need to have in their 401K to retire at somewhere between 55-60?  The healthcare insurance one would have to cover for themselves at that age is obviously a big challenge for most since one will have to pay thru the nose for private coverage.  Way worse if you need family coverage.  If one lives modestly (and I always have) would $1M in your 401K be enough to get you thru the rest of your life with the SS you'd eventually and hopefully be entitled to added in?

 

 

 

everyone's situation is different. In your example, and this is just my opinion, I would first ask will you have any debt when you retire like a mortgage? if not, you got your taxes and expenses. Say you have $1M and get 4% per year, you are still making $40K/year in come. How much do you plan to spend and how long do you want the $1M to last or are you planning to leave some for generations behind? Lots of variables. If you can live off $50K/year, you're set. If you need $200K/year to live off, well then you are going to run out of money in a few years.

IMO - everyone should have a "number" in mind, that they need before retiring and overestimate all your expenses and do the simple math on how long it will last.

Edited July 8, 2021 by Biz-R-OWorld

[Fletch]

But but isn't the gubbernment going to take care of us all????.......

[Fletch]

Ima retire on a beach in South America. Pretty soon there will be no one left down there. They will all be up here voting democrap.

[BizCT]

12 minutes ago, Fletch said:

But but isn't the gubbernment going to take care of us all????.......

I'm banking on $0 social security and then it will all be gravy.

[Robhuntandfish]

I'm hoping for 60 to retire. Mortgage will be paid off and I can draw on 401 without penalty, and will prob work or consult 2 days a week to cover insurance.  Then draw SS at 62 for sure.  And I have wayyy simple needs, pay the bills, taxes, Walmart money and boat gas. 

[Lomax]

I guess I could probably retire now if I wanted to but I really don’t I am 54 and I have two payments left on my mortgage plenty of money in the bank and in retirement to live off of if I wanted to but truthfully I enjoy work still and doing it about 30 years now.  I would like another 8 to 10 years God willing.  I originally had plans to retire at 55 but now that it’s looming that plan seems to have faded guess I want to feel I still have it and can contribute like my younger coworkers and I help teach them do not make the mistakes I did.  Sometimes perspectives change as you age and what seem like work used to be work now doesn’t seem so bad or hard.  I guess the saying goes you get out of life what you put into it I have been living with delayed gratification for sometime and see no reason to change now I just hope I make it to the finish line to enjoy it

[phade]

2 hours ago, steve863 said:

I too, have ZERO desire to be working at 65 so here's a question.  How much do you guys think one would need to have in their 401K to retire at somewhere between 55-60?  The healthcare insurance one would have to cover for themselves at that age is obviously a big challenge for most since one will have to pay thru the nose for private coverage.  Way worse if you need family coverage.  If one lives modestly (and I always have) would $1M in your 401K be enough to get you thru the rest of your life with the SS you'd eventually and hopefully be entitled to added in?

 

 

 

Because of our modest home compared to income, our mortgage will be completely paid off in 2023, essentially a six year term vs. 30. That reduces my cost to upkeep and taxes, and living expenses.

Many people who retire at 55-60 pick up a small part time job with benefits or work a much more simple job solely for the benefits component. I'll probably fall into that space.

 

 

[Fletch]

Yea no mortgage is key. Paid off ours a while ago. 

Unlike Lomax I would retire tomorrow if I could lol. While I am very good at my job and it pays well. I would not miss it at all. 34 years here and the people I have to deal with get stupider every year and finding good help is getting ridiculous. 

 

Unfortunately if I retire now I'll live to 110 and not have the $$, If I retire at 65 I'll drop dead at 64!!

Edited July 8, 2021 by Fletch

[BizCT]

53 minutes ago, Lomax said:

I guess I could probably retire now if I wanted to but I really don’t I am 54 and I have two payments left on my mortgage plenty of money in the bank and in retirement to live off of if I wanted to but truthfully I enjoy work still and doing it about 30 years now.  I would like another 8 to 10 years God willing.  I originally had plans to retire at 55 but now that it’s looming that plan seems to have faded guess I want to feel I still have it and can contribute like my younger coworkers and I help teach them do not make the mistakes I did.  Sometimes perspectives change as you age and what seem like work used to be work now doesn’t seem so bad or hard.  I guess the saying goes you get out of life what you put into it I have been living with delayed gratification for sometime and see no reason to change now I just hope I make it to the finish line to enjoy it

Whatever makes you happy is most important.