Can I retire yet?

Discussion in 'Merck' started by anonymous, Sep 25, 2017 at 8:14 PM.

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  1. anonymous

    anonymous Guest

    Did your family history reveal your hooded klan granddaddy?
     

  2. anonymous

    anonymous Guest

    This guy gets it.
     
  3. anonymous

    anonymous Guest

    No actually he does not get it.
    The income you need is contingent upon your lifestyle and expenses.
    I don't care if you live an additional 50 yeas or 10.
    You people simply ignore facts.

    Take 1 million dollars. Invest that principal and receive on average an 8% rate of return. Take 40-50,000 annually in income plus your social security. Adjusting for inflation and you will never touch the principal. Have long term care insurance. If your debt free, then you are fine. It does not matter how long you live.
    Anyone telling you different is lying. Financial planners are definitely lying. They get paid by the size of your portfolio they manage. It's in their best interest to scare you into thinking you need 5 million.
     
  4. anonymous

    anonymous Guest

    It's not 1980 gramps. This won't cut it. The general consensus is 3-5 million.
     
  5. anonymous

    anonymous Guest

    Some folks are ignorant.
    2+2=4 however they will argue this with you and tell you it's new math
     
  6. anonymous

    anonymous Guest

    Nursing home costs are easily $100,000 per year--nothing fancy. Enough said.
     
  7. anonymous

    anonymous Guest

    Exactly!!
     
  8. anonymous

    anonymous Guest

    Did you miss something with the long term care insurance?
     
  9. anonymous

    anonymous Guest

    I was layed off today, oops i mean displaced today. 53 married $3 M saved, no debt, house paid off 3 kids in college. I honestly feel no pressure to stress out any longer. We will live a modest lifestyle and are confident that we can make it last. I will claim SS at 62 and possibly supplement my income with a PT job doing something FUN. GOD Bless and good luck to all
     
  10. anonymous

    anonymous Guest

    Congrats. That 3M should definitely give you some breathing room.
     
  11. anonymous

    anonymous Guest

    I'm 51 and just made 2 M. I don't think I will ever retire.:mad::mad:
     
  12. anonymous

    anonymous Guest

    Retiring going forward will be very tricky. Eliminating SALT and other deductions in highly taxed states will have an intense impact. With eventual entitlement changes, people living longer, more responsibilities, outsourced jobs, changing job force careers. etc. Although very few people will live to be 95 or 90 for that matter many are living longer in 80's than previously. But mots will still died of heart disease, some cancers and pneumonia, etc.
     
  13. anonymous

    anonymous Guest

    sorry, u can’t retire
    Social security is bankrupt
    U need minnimum of 5 million. Less than 2 % of population will ever have that. 98% will need to work till u die. So fuck off and keep working somewhere.
     
  14. anonymous

    anonymous Guest

    You keep working somewhere chief. I will retire with my no debt and a million in the bank. Keep feeding your financial adviser's beach house account. Oh, and fuck off.
     
  15. anonymous

    anonymous Guest

    I'll make 500k work so I won't have to deal with metrics, spreadsheets, ride alongs etc. Can't and don't want to last 20 years in this industry
     
  16. anonymous

    anonymous Guest

    I’m 62 layed off Hear soon here my numbers

    pension $1,450,000.00
    401k. $1,800,000.00
    Ira. $300,000.00
    Cash/invest. $350,000.00
    House net. $300,000.00
    Debt zero
    Ssi at 62. $23,000.00 yr
    Can I pull the plug
     
  17. anonymous

    anonymous Guest

    That may work in a place like Roy Moore's Alabama or some other 3rd world country southern state but it won't work elsewhere
     
  18. anonymous

    anonymous Guest

    How about you explain why that will not work outside of Alabama?

    Zero debt, obviously been at Merck long enough to qualify for retiree health benefits until Medicare.
    What is so expensive outside of Alabama that you can't make? Propert tax? Not in a 300,000 home.

    Hmmmm, I am just not seeing your issue with this person retirement plan.
    You could take just the pension benefits of 1.3 million, derive 60/70,000 annual income from that and never reduce the principal in 40 years if invested conservatively..
     
  19. anonymous

    anonymous Guest


    You are spot on! I’ll be 63 in a few months. Not with Merck but saw this topic. With a small pharma co. Miserable. Met with my Fidelity guy. I have a total of about 1.8 mil in 401k and savings. No debt. About 400k of that is in cash savings account. Took heat for not putting it in a Roth etc. but now glad I didn’t.

    He told me to tell my company to kiss off and retire. Do not draw your SS but draw from that $400 in savings and show zero income to qualify for lower healthcare for the next 2 years.
     
  20. anonymous

    anonymous Guest

    Thanks been here 25 + having the free car from mother slowed me to invest what would have been car exspences plus I had 3 Merck relocations that I made money on. I’ve been lucky

    Thanks for your thoughfull posting

    Been here over 25 ye