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Thread: Who is retired? What do you do all day?

  1. #21
    RiderCoach 5000 Posts! NORTY's Avatar
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    I was retired for 6 years. It was great for about 5 or 6 months. Getting projects done on my schedule was wonderful. Then I ran out of things to do. Then I got bored. Daytime TV is atrocious. If there was ever an incentive to work, daytime television is it!
    Went back to being useful by taking a part time position at the local City. Not enough there so I took a fulltime gig w/ bennys. That's my story and I'm sticking to it!
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  2. #22
    RiderCoach 5000 Posts! NORTY's Avatar
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    Oh yeah, corp officers don't get unemployment benefits...
    Knowledge speaks, wisdom listens.

  3. #23
    Flirting With The Redline 2000 Posts! Sorg67's Avatar
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    Quote Originally Posted by taylorcraft07 View Post
    Vanguard
    Bill Sharpe won a Nobel Prize in economics for his work in modern portfolio theory. When asked what is the most important factor to consider in selecting a mutual fund, he answered "expense ratio".

    Vanguard has some of the lowest expense ratios available. Great resources on their website. And you can hire them for additional planning and management services at reasonable rates if you do not want to do it yourself. They also provide a higher level of service for portfolios above $500K and even more above $1 M. There may be yet another level of service above $5 M, but I am not sure about that.

    The biggest value advisors provide is helping you avoid panicking and bailing out at the wrong time. Or doing something stupid you read in some financial magazine. Stick to a consistent sensible plan at a low cost. It is not complicated.

  4. #24
    Flirting With The Redline 4000 Posts! taylorcraft07's Avatar
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    Quote Originally Posted by NORTY View Post
    Oh yeah, corp officers don't get unemployment benefits...
    So far from a corporate officer that it isn't even funny. What is bad is that the Dilbert quotient is rapidly climbing over the last few weeks. Even the project manager that is here on a H1-B is sending them out. I am just here until Tuesday with a job description of disruptive individual.

    It is definitely time to leave.

    Dave

  5. #25
    I find retirement multi-faceted.

    The money part allows for options. It helped me to have majored in finance and economics. From about 30 I began preparing both with IRAs and a mind toward pensions. As a result of the Army Guard my Uncle Sam manifests his love with monthly deposits. It helped that I made rank rapidly and was available for extra duty. My full time job also had a pension. The result is I only need my 401k and IRAs for extravagance.

    Speaking of which. If you just put the same amount into an index fund for your working life you will beat the average "active" investor because of a little thing called "dollar cost averaging". Your dollar will buy more when the market is down and less when the market is up which is what you want. I was half out of the market when 2008 happened. When it fell below 8500 I started shifting back in. And every 500 down I put in more. I was 90% in (and feeling quite nauseous) when the market bottomed in March 2009. On paper I was screwed. Then it began to recover. I started getting back out at DOW 10,000 and had my portfolio at "retirement" diversification when it hit 15,000.

    Emotionally doing what I did felt horrible. But intellectually I knew it should be the right thing. The reason so many people loose so much is they invest emotionally. (Never invest in something you don't understand. I made a lot of money investing in real estate then lost it in a real estate deal I truly did not fully understand,) Oh and stock analysts are the devil. Don't listen to them. They will almost always tell you to buy when a stock is high and sell when a stock is low.

    I do check out what Liz Ann Sonders with Schwab thinks about the economic outlook. She called the 2008 collapse. Smart girl. For free you can check out her thoughts ...

    One other thing. Don't have all your money in one stock. I have two friends who were once very very wealthy. Each had 95% of their money in their companies stock. One worked for Lucent, the other for Lehman's. How to go from a multimillionaire to only having about a million each ...
    Last edited by OBX-RIDER; 02-23-2017 at 06:49 PM.
    The best thing you can buy for your motorcycle is gas.

  6. #26
    Another 'facet' is to have developed interests ... like riding motorcycles. This time of year finds me "boondocking" in my RV with my wife Gigi riding both offroad (DRZ400) and taking trips onroad mostly 2-up (r1200GS). i have ridden bikes most my life. But I also fly airplanes, surf, shoot (all kinds of stuff), sail, swim, hunt, etc. And I hang out with friends. NC friends, AZ friends, CA friends etc.

    One of the very best things for me ... is helping others. We had a young woman who had a brand new baby live with us for a year because she had no other place to live. One of the best years of my life. The mom now has a good job and a home of her own but when she visits the moment Lily gets out of the car she throws her arms up and runs to us ...

    And it seems I have a knack for mentoring people who have kind of lost their way. I spin my wheels sometimes but it sure feels good when someone whose life had about gone to hell ... makes real progress. And the bottom line is it has made my life far better. I think of it as enlightened self-interest ... .
    The best thing you can buy for your motorcycle is gas.

  7. #27
    Flirting With The Redline 4000 Posts! taylorcraft07's Avatar
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    Quote Originally Posted by OBX-RIDER View Post
    One other thing. Don't have all your money in one stock. I have two friends who were once very very wealthy. Each had 95% of their money in their companies stock. One worked for Lucent, the other for Lehman's. How to go from a multimillionaire to only having about a million each ...
    I had a manager that did that and should have known better. He was an ex bean counter out of corporate finance that had somehow ended up in info management. He moved his entire retirement into Xerox stock when it hit about $20 on the way down from a period of cooking the books for SEC reporting. After all it couldn't go lower. When it was at $4 and close to going to $0 he didn't look so good. I assume he got out of it sometime during the years when it was $5-7. About the best it ever did before the recent spin off was around $20.

    Dave

  8. #28
    In stock market lingo that is called "attempting to catch a falling knife" and just as it sounds, it is fraught with danger. Attempting to perfectly time a stock is virtually impossible ... that is buy it at it's bottom and sell it at it's top.

    I have known a lot of fairly smart folks who thought they had a "system" and got their butts handed to them investing. I beat the indexes over the decade I invested in individual stocks but by so little it wasn't worth the trouble. I recall back in 1973 a professor of economics telling me economists were only right about the direction of the economy 6 months ahead 48% of the time. I think they do a little better now ... but not by much ...
    The best thing you can buy for your motorcycle is gas.

  9. #29
    Flirting With The Redline 2000 Posts! Sorg67's Avatar
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    Quote Originally Posted by OBX-RIDER View Post
    professor of economics telling me economists were only right about the direction of the economy 6 months ahead 48% of the time. I think they do a little better now ... but not by much ...
    I do not know if economists are any better now than they have ever been. But regardless of their accuracy, economic forecasts are of very little value in forecasting the stock market. The stock market is one of the best leading indicators of the economy. The stock market predicts the economy not the other way around.

  10. #30
    Quote Originally Posted by NORTY View Post
    I was retired for 6 years. It was great for about 5 or 6 months. Getting projects done on my schedule was wonderful. Then I ran out of things to do. Then I got bored. Daytime TV is atrocious. If there was ever an incentive to work, daytime television is it!
    Went back to being useful by taking a part time position at the local City. Not enough there so I took a fulltime gig w/ bennys. That's my story and I'm sticking to it!
    You ain't kiddin'!!! Before I moved, I took my mom to most of her VA appointments. Even though I always took something with me to read while I waited (usually a motorcycling magazine), I had to endure daytime TV blaring in the waiting rooms. I cannot believe how shallow and insipid it is. Who in the world CHOOSES to watch this stuff??? Is it any wonder society has deteriorated to the point that it has when this is what people soak into their brains all day? "Lauren Lake's Paternity Court"? Seriously??? THIS is "entertainment"??? I'm home most of the time during the day, but we rarely have the TV on. We don't have cable or dish, just Netflix and a boatload of DVDs, but if I do watch free TV, it's old reruns.

    Lori
    RiderCoach since 2010
    I think I've finally figured out what I want to be if I ever decide to grow up.

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    ATGATT: Because the laws of physics couldn't care less.

    Someday I hope to become the rider that my bike deserves.

    All the worry in the world doesn't prevent death. It prevents life.

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