What will it take $$$ to retire?

I agree on the Healthcare - we all know it, we all seem to think it is important - why don't speak about it with our vote?? Instead we tend to make guns, abortion, terror, gays our issues. You get what you ask for - tell your representative - I think the time for National Healthcare has arrived - we are the last industrialized country to deal with the issue.

My 92yo grandmother asked the DR if he was crazy when he suggested bypass surgery....."Let me die, I've lived a good life"....and she did 2 weeks later at home....she didn't want to stay in the hospital to die.

I have to agree about the health insurance problems here in the USA... which is why it is SOOOO hard for me to think about becoming a nurse. I don't even trust doctors! <G>.... I go "herbal/all natural" unless it is a muscular/bone problem.

If anyone has any ideas for a 2 year degree that is high in demand, takes 2 years or less to complete, pays very well (triple the minimum wage? to start), etc.. let me know!

For "family reasons" I have started college 2x and had to quit.. once, 22 years ago for nursing school and then 15 years ago for computer programming (ICK! <G>). I received a 3.98 GPA so far and will have to take all those classes over again (GROAN!!!!) since it has been too long. Now is the time for ME and I want an interesting, high in demand nation wide (who knows where I will be in the future?) and of course, something a middle aged and older woman can handle physically. I have a heart for helping people but honestly, I could do that as a volunteer so it doesn't have to be my "profession". I have considered being a "home health aide" but ... it pays only 2x the min. wage and I would need more in order to save money. I know that nurses can be "administrator types" so that is why I have considered going on further to become a "paper pusher" (ARGH!!!!).

I am really concerned that my past lack of jobs and lack of "marketable skills" would make it increasingly harder to find a decent job. After all, how many people hire those with livestock, gardening, spinning, baking from scratch, etc type of background?? <G>. I have tried to have my own business and honestly, my marketing skills are dismal so it didn't pan out as I had hoped (of course, my dh wasn't exactly enthused about it either so I had a hard time from the beginning).

Any ideas welcome!!

And for those w/o health insurance like me.... just keep up your immune system, be careful being in areas of possible accidents, etc... at least we carry decent car insurance in case of an accident.

Terri

Medical billing.....

Ultra sound tech.....

I'd like to get a decent job too once the kids are old enough *but* changing and bathing patients is not appealing....

I think there is also alot of need in the way of therapists...LCSW ...private practice gets $45/hr around here.

I admire someone like your grandmother. I have come to terms with death and don't fear it and hope to have the same attitude she did especially if I make 92.

Healthcare has become such a joke of a word much the same as health insurance. Healthcare would mean taking care of your health which our society has never understood. How do you insure someone good health that's never done anything to keep theirs?

I wouldn't go into health care field myself for many reasons, but it seems like one of those fields that looks better from the outside then the inside.
I went into driving a truck because of the demand, the benefits, easier on my body (healthcare), and the money. I see plenty of professional people coming into the truck driving field including health care people.

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"Education is the ability to listen to almost anything without losing your temper or your self confidence"
Robert Frost

Great topic Beeman.
But I’m afraid the question “How much money do I need …..” is like, How many cows can I run on 25 acres? Too many variables.
I’m currently making a lifestyle change by moving from Los Angeles to Norwood, MO. I’m paying cash for our homestead and will have a nest egg to TRY to live on. Nothing near the one million spoken of early. I don’t think any of us here can solve the mess our politicians and corporate executives have gotten this country in, so (not trying to high jack) I’d like to hear how people on this board are making it. And be specific. Like we have xxx acres and we run xxx cows. We cut xxx hay and we sell xxx calves. Our garden is xxx, we raise xxx chickens, we raise xxx pigs.
Maybe from this we can extrapolate “ How much money…..” for our own personal needs.

My most conservative stock investments were 17% last year. I've only had a handful of quarters where I took a loss on them.

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Respect The Cactus!

Don't know if this will help much but, in my case its:

86 acres total. Acre and a half in a stocked pond, 7 acres in grass/hay and 70% of the remainder is old growth, mixed hardwood timber with the balance in pine. I guess the garden must be about a half acre not counting the sweet corn patch. 32 Buff Orpington chickens take care of the egg needs and a little money from egg sales.

All in all the chickens probably just about pay for themselves. Beef and pork I usually find it easier to trade services for with neighbors. Bush hogging, fixing their computers, farm mechanical work and cutting firewood for them helps them out because most of them are even older than me and it fits my schedule better. 4 days a week I work 10 hours a day in the city that's 43 miles from my place and that takes care of the cash money requirements for taxes, insurance, fuel, repairs and the light bill etc. but limits the amount of livestock and crops I can deal with on the place right now.

Problem with any farming/forestry in my area, and most places I guess, is the land is worth much more for development than for agriculture. So, taxes get higher and it's harder and harder to keep enough forest between me and civilization. I'm hoping the high gas prices will start to keep more people in the city and there will be less commuters building out as far as I am.

I've heard it said that in the future people's wealth will be judged by how much privacy they can afford. Unfortunately, I think there's a lot of truth in that and I applaud those who have fore sight enough that they're now building homesteads of their own. In not too many years it just may be too expensive to get started.

My funds ranged from 6% to 45%, and my portfolio as a whole came in at 18%. The low performers were bond funds, of course.

We did like Rose and Quint and banked like banshees for our retirement. No new cars, no dinners out, no buying anything but what's on the grocery list when we go to Walmart, $10 shoes and make them last or patch them with duct tape. It didn't feel like deprivation because going for a hike or talking with my husband is free, and it sure doesn't feel like a deprivation sitting here at age 44, downsized from my job, with a nest egg that will support my current lifestyle as long as I can earn about $6000 per year in wages as a self employed person from age 45 to 55. Notice that I'm not even counting on any income for the first year.

You can't buy yourself this sort of freedom and security if you don't set out to save, to not spend, or if you are content to let your nest egg sit in a bank savings account. I really like seeing other folks like Rose and Quint who don't give up on saving seriously just because big nest eggs can seem really far away and really hard to achieve.

I was never so glad to be a saver as I was the day I was downsized and I could tell my former boss that I was glad to be rid of him and the job and that I had my current expenses, my health care plans, and my retirement plans already taken care of.

I get suprised when I see homesteaders being timid about their savings plans. None of this is any harder than roofing your house or taking care of your animals.

Just my $0.02

Lynda

that's great if you can pick individual stocks. But most people with 401Ks are stuck with index-type funds. Which obviously are not doing so great right now.

I wish we had an energy and/or precious metals fund in my 401K.

Consider balancing your portfolio with international developed market funds and international emerging market funds if they are offered. Also look for domestic small and mid cap funds.

I'm really glad I balance domestic funds with international - usually one goes up as the other goes down.

Lynda

I have averaged about 10% on my total investments after taxes since 1990. Rarely had a losing quarter, some quarters were only 2-3%, but the better ones made up for that. I have had a very conservative portfolio. In my opinion only someone that knows nothing about the stock market would invest in the DJA or any average. If you nothing about an investment you are foolish to invest.

You will never accumulate sufficient assets by wishful thinking (if only I had invested in that) or shooting for home runs. I shoot to hit singles consistently and have over a 20 year period with only a couple of doubles and triples, but I rarely strikeout.

Every paycheck I always paid myself first (to the investment account) and did without instead of relying on credit, except for my home that I paid of in 10 years and lived in for 30.

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Mess with me? I may let karma take care of it. Mess with my family? I become Karma.

I've never had enough land to even consider making money from livestock. Hay or any other row crops require equipment investment and my equipment has come used one piece at a time. I had a nice house and acreage in a beautiful area but the scenery wasn't paying well. I was driving 30 miles each way to a "good" job with benefits to support my lifestyle and realized I didn't have a life, or a job I enjoyed. When we sold the house and land I felt like a huge weight was lifted off of me, I also quit my "good" job and moved to a neighboring state that I felt was a better place for me and my family. I have a nice place with 7 acres but again I could never see a way to live off my land. What I did was build a building and start a business on my land. This worked out well for years and I was always at home more or less so it was great raising our kids. Then of course the health insurance, liability insurance and not building enough equity or retirement funds outweighed the benefits of the business. I made my move to work for someone else for the reasons most others do. I went for the benefits and the money. I can make more with better benefits and less aggravation then running my business. The plus side is my building and equipment are right out my door and it's always easy to make a few bucks.

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"Education is the ability to listen to almost anything without losing your temper or your self confidence"
Robert Frost

Whoa there Cindy, catch up to the present and join modern times. Several banks are paying 4% or more, FDIC insured. Try emigrantbank.com

Also, as inflation picks up, interest rates will rise accordingly. I recall getting 14% passbook savings in the late 70's. Besides, what's important is the spread, not the rate.

3 basic investments.Stocks,Real estate and interest accts.We went through stocks,now in the housing,Interest rates are next.
At least thats how its played out in my time here on Earth.

BooBoo

I would like to thank you for your comments, Rose. I totally agree with you.
To the guy who said "Bushes war" if Clinton had handled the terrorist problem instead of hoping it would go away and humping his intern, we wouldn't be in this war.

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A foolish consistency is the hobgoblin of little minds, adored by little statesmen and philosophers and divines.
Ralph Waldo Emerson (1803–1882)

I think some people here are not being entirely honest.

I also think that people should quit worrying about things they have no control over. If we live in luxury or if we live in poverty..we will still only be as happy as we've allowed ourselves to be. Some of the wealthiest people also suffer from some of the most severe depression.

Whether I'm financially secure..or whether I'm financially poor..Whether I retire at 50 or I retire at 80...I hope to be happy. If I cannot afford health insurance..then I'll just do without. If I cannot afford my home insurance...then I'll just do without. If I cannot afford property taxes...I'll just sell my home and live in a shack somewhere. With so many folks planning their financial future on owning rental properties...there should be plenty of shacks to rent.

If you're fifty now with no savings and mega-dollars in debt.....well, you've got enough worries about the present and shouldn't be worrying so much about the future. Take care of NOW...quit spending money on things you don't need...save whatever you can...pay off your debt...and let's see what happens in the next 20 years.

IF you really want to worry...consider this: The government might have to find a way to eliminate half of the baby-boomers before they reach the age where they'll be eligible for SS. In other words....widespread epidemics may not be as far away as some might wish.

"IF you really want to worry...consider this: The government might have to find a way to eliminate half of the baby-boomers before they reach the age where they'll be eligible for SS. In other words....widespread epidemics may not be as far away as some might wish."


Maybe Johnson was trying to accomplish this with VietNam.

I don't think it's a matter of worrying about something as much as trying to be prepared in some way.

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"Education is the ability to listen to almost anything without losing your temper or your self confidence"
Robert Frost

We had a guy finally retire and at his party at the local Owls club fell off his bar stool and died of a massive heart attack!
Chas