Multi-topic thread on retirement and second car

[RDATLTE]

I retired at 47. I started planning for retirement the day I started working. I enjoyed summer vacation so much when I was a kid that I decided a life of leisure was the life for me! I'm not married. I don't have and never planned on having children. I live in a very nice but modest home that was bought and paid for long before I retired. I'm really not all that excited about travel. It's really all about saving and living within your means.

As for the cars, I currently have four and two motorcycles. I have retirement accounts, both traditional and Roth IRA's. I'm 61 now. I hear you guys discussing cars alot and it's always modern cars. For me vintage cars are where it's at! Most of my vehicles are still gaining value. In a few years I may decide to sell a couple of vehicles to finance a vacation home but we'll see.

Btw if you're wondering what I did to achieve all of this, I was a Police Officer. It's a job I wouldn't even consider if I were just starting out today. I understand that the cost of health care is a major concern for most early retirees but thankfully my health care was paid for which made retirement possible for me.

Again it's all about planning, saving and living within your means. Choosing not to have kids didn't hurt either.

Health care and a roof over your head; it's all gravy after that.

 

[Roadhawk]

My survival bunker is almost finished. My wife just needs to decide what color to paint the blast door.

Back in the 1990s a friend and work colleague built one of the most elaborate survival bunkers imaginable ( but outclassed - at least luxury wise - by many being built nowadays). Still - this thing was 90 feet long with a blast door (imported from Switzerland and filled with concrete)...it had dual power - commercial with switch over to internal (powered by exercise bikes)...had two entrances - one from the house - one to an outer underground area and a third ability to enter/exit by blasting through to the surface (just in case the whole thing was under debris etc). They also had radiation suits and Geiger counters etc etc

Well he informed me that we had a place there if things were to "go up"...this all led to much discussion - with me expressing doubts about getting adequate warning in time etc. and also debates about what made more sense to spend limited $$$ on with me expressing satisfaction with my multi level deck.screened in porch and outdoor kitchen built (mostly by myself with friends & relatives) for less then half the cost of his elaborate shelter. Still it was way cool and the real deal...

 

[FLYARMY]

I was just kidding about the survival shelter. If and when the time comes, I will just get a six pack of Heineken beer , my patio chair and wait for the flash ! Money will become worthless. Only food, water, weapons/ammo, drugs, alcohol, tobacco, medicine and poontang will have any value. I will try and get to my local military base to steal a helicopter to get outta Dodge....but there are probably other pilots with the same plan.

 

[BimmerFan]

As for retirement... it is brutal with seven older siblings that are starting to retire in mass. Their peer pressure and the positive reflections in this thread has got me running the numbers, hard.

With the exception of people who didn't save enough or had an unexpected and financially debilitating health condition pop up, I'm not seeing a lot of negative options from retirees.

As long as we don't listen to morons like Susie Ormond, I think the majority of us are well positioned to do it. My hang-up right now isn't finances as it is what do I do with myself to stay busy. My A.D.D. is bad enough already...

 

[ArnoldJudasRimmer]

The only thing I want to bring to this thread is this:

How dare you, I'm 32, retirement age my ass! I bring the average Cadillac ownership age down!

I'm starting to suspect that there may be half a dozen of us, huzzah!

 

[5VBW Nick]

43 here, might retire sooner than planned if crypto continues on its trend

 

[FLYARMY]

I've listened to Susie Ormand and Dave Ramsey. I have a subscription to Kiplinger Retirement Magazine and I have learned important stuff from all of them. I try to pass my knowledge onto my kids, so they can start investing early. My son does play video games and reviews them on You Tube. He has over 260,000 subscribers (and growing) and makes almost 10 grand a month !!! He figured this all out by himself. I helped him start his own LLC and started Roth IRA's and other investments. He is on par to be able to buy his first home for all cash and have no mortgage within the next 2-3 years. I'm 60 and have been paying mortgages since 1991. I'm hoping to pay mine off in the next 3-5 years, although I have enough money in retirement funds to buy 2 new houses. My financial planner says to just keep paying my mortgage , plus extra payments each year, because I have a 3% mortgage rate. He said leave my investments alone, where they are making anywhere from 10- 23% a year. Same thing with my low interest rate car payments. Its an emotional thing to not have any payments, but finance knowledge dictates to leave investments alone.

 

[FLYARMY]

43 here, might retire sooner than planned if crypto continues on its trend

You Tube had a guy interviewing women and asked them what would they take.......a Taylor Swift concert ticket or One BitCoin. It was amazing that 90% of them said they would take the concert tickets. Idiots.

 

[Roadhawk]

Well Flyarmy sounds like life is good - congrats. Like you we're pretty comfortable and live well within our means - always have. We're certainly not rich as I assume many folks on here are (with multiple Porsches and such etc) but live quite well. (and its all relative....we're all pretty well off here on this forum....I mean really now...)

Like you I invested early - really have my dad to thank and we're still in our first house....that we could afford back in the late 80s and has been paid off for nearly 10 years. Friends and work colleagues long marveled at the great, long vacations we always took and wondered how we could afford them....well not being house poor is probably the #1 reason. And also - while being a car guy...we tend to keep our cars long after they have been paid off.

So we had a few lean years (right when we retired) with 2 boys in college and us paying their rent and all the bills - but now - with the house paid off - well we haven't even had to touch any of our retirement or investment income and paid cash for the CT 4 V BW (and could have just as well bought a 5 V but I really prefer the 4).

And while I don't buy first growth Bordeaux any longer we still have plenty and much other fine wine (as well as single malt and bourbon in the cellar....though finished my only bottle of Pappy's a few years back)...to keep us going for longer then I will live. I often tell folks how I see my boys, long after I'm gone, sipping on some old first growth from my cellar, clinking their glasses together and saying - wasn't dad cool to leave us all this fine wine and not just money...

 

[rubberduck]

43 here, might retire sooner than planned if crypto continues on its trend

See, aren’t you glad you voted DJT. Don’t worry nobody in your family will find out.

 

[5VBW Nick]

See, aren’t you glad you voted DJT. Don’t worry nobody in your family will find out.

At this rate he will be hiring Lightning McQueen to run the NHTSA...

 

[BimmerFan]

At this rate he will be hiring Lightning McQueen to run the NHTSA...

The late great Stanley Kowalski will be our new head of NHTSA. Well known for driving the challenger on the streetcar of desire, he will lead us into more oil, drill baby!

 

[BimmerFan]

For those still following along, it looks like the GR Supra (6 spd, natch) will be the second car...

 

[5VBW Nick]

A true Bimmer fan

 

[CaddyTrack]

yup

 

[CBH]

I like the new Supra. Its basically a Z4, but with an available clutch and very interesting and unique bodywork. I can't say its beautiful, but I love it and it truly makes a statement.

I thought you'd go for something cheap and replaceable if its truly a track toy, like a Miata or a GR86/BRZ.

The Supra is very nice. You're getting yellow I presume ?

 

[BimmerFan]

I like the new Supra. Its basically a Z4, but with an available clutch and very interesting and unique bodywork. I can't say its beautiful, but I love it and it truly makes a statement.

I thought you'd go for something cheap and replaceable if its truly a track toy, like a Miata or a GR86/BRZ.

The Supra is very nice. You're getting yellow I presume ?

I've been spoiled rotten by the BW and some other previous cars, and so the Miata and BRZ/86 are just too low powered for me. And kind of disappointing inside, great cars, lots of fun, well made, etc., but really cheap-feeling plastics.

The yellow was only offered in 2023. Right now all you can get is black, white, red and blue. TLDR; I got a deal on a white one, not my first color choice.

 

[Z51L9889]

Today marks the one year anniversary of my last day at work. If I had known then what I know now, I would have retired several years earlier. Retiring at a relatively young age (I'm 61) is by far the best decision I ever made. I love being the CEO of my own destiny...

BimmerFan -- Congrats on the Supra!

 

[ArgentWing]

Today marks the one year anniversary of my last day at work. If I had known then what I know now, I would have retired several years earlier. Retiring at a relatively young age (I'm 61) is by far the best decision I ever made. I love being the CEO of my own destiny...

BimmerFan -- Congrats on the Supra!

If you know, you know!!!

 

[Matt27]

If you know, you know!!!

Sounds like I need to win the lottery so I can actually do this.

- the 30 year old guy.