Retirement planning

[PartyOf5]

I didn't want to take the migrant caravan off track, so I'll start this.

I'm curious as to what fellow Hashers are doing in the way of retirement planning. If the whole world goes to hell, I'm not sure any planning is fully safe. My plan is to semi-retire in about 10 years. We still have a few years left on our mortgage, but it will be paid off by the time I go into semi-retirement. We also have a rental property. For savings we have money in a couple of Roth IRAs and the rest is in various mutual funds.

I've never traded stocks myself, just what is manged through the funds. Should I be getting into that? Buy gold? Buy more property? Maybe a little of each?

[Speaker to Animals]

About fifteen acres of remote and defensible mountain land with enough acres around a river or large creek to grow sufficient food for a few people.

I need to learn hunting in the meantime. Not sure how to go about that.

[heydaralon]

I didn't want to take the migrant caravan off track, so I'll start this.

I'm curious as to what fellow Hashers are doing in the way of retirement planning. If the whole world goes to hell, I'm not sure any planning is fully safe. My plan is to semi-retire in about 10 years. We still have a few years left on our mortgage, but it will be paid off by the time I go into semi-retirement. We also have a rental property. For savings we have money in a couple of Roth IRAs and the rest is in various mutual funds.

I've never traded stocks myself, just what is manged through the funds. Should I be getting into that? Buy gold? Buy more property? Maybe a little of each?

Do you work in a STEM field? Also, what state do you live in?

[SuburbanFarmer]

Buy gold, learn skills like gardening, canning, shooting.

Get out of the stocks, unless you’re really optimistic about the next decade.

Mutual funds are an insane ripoff. If you must own stock, buy an index fund, like the S&P 500 (ticker: SPY).

[Speaker to Animals]

Stocks are fine as long as you know how to short them and use derivatives correctly. You can make a fortune in a market correction. Most people who make a lot of wealth that way did it when the market tanked. "Investment" is for dumbasses, really, unless you are a huge fund with access to the internals and real finances of the companies you invest in.

[heydaralon]

If you really want to put your money into something that will retain value, buy a boat. Preferably a large one. It doesn't have to be a yacht per se, but if anything, your boat will increase in value as time goes on.

[Speaker to Animals]

A boat is a money pit.

[DBTrek]

Owning a rental is a great choice. Aaaaaand the housing market is slowing down. Squirrel those ducats away and if the market takes a shellacking buy a home/condo as a rental when values bottom out and mortgage rates drop or freeze.

When the housing market rebounds you’ll be sitting pretty. If things get worse ... you have two homes to burn through before you’re on the streets. Not a bad position to be in.

[Speaker to Animals]

There is this investor I saw on YouTube who says you should live where you rent and rent what you own. I.e. own property that you use for income by renting it out, but just rent wherever you want to live. Interesting way of approaching it if you are not of the prepping mindset.

[MilSpecs]

I didn't want to take the migrant caravan off track, so I'll start this.

I'm curious as to what fellow Hashers are doing in the way of retirement planning. If the whole world goes to hell, I'm not sure any planning is fully safe. My plan is to semi-retire in about 10 years. We still have a few years left on our mortgage, but it will be paid off by the time I go into semi-retirement. We also have a rental property. For savings we have money in a couple of Roth IRAs and the rest is in various mutual funds.

I've never traded stocks myself, just what is manged through the funds. Should I be getting into that? Buy gold? Buy more property? Maybe a little of each?

We try to stay diversified. Right now we're split between funds managed by a broker, self-managed funds, cash, whole life, bonds, small amounts of other tangible items, and insured pension. I haven't looked at annuities yet since they make me nervous, but I'm open to learning more. Mortgage won't be paid off by retirement (congratulations, that's a major achievement) but we don't plan on staying here - this is the interim place between young adult children and being truly empty nesters.

Just an important as building assets is protecting them, though. A trust is essential for anyone with assets to protect, and an umbrella insurance policy at least as large as your assets until then.