Retirement-Semi Retirement, (Tech/a personal study) implementation and discussion

[qldfrog]

we can only hope to continue being an appreciating asset.
I figure if I keep putting the good stuff in the old grey mare will keep at it
Never had a glass of wine
Never had a coffee
Smoked to 55 with 7 years off at 28 ( should never started again!)
Never Ben into drugs
Too many bad women
One great one!
Love humour

People around me dropping like flies
Last one 52!
Don’t sweat the small stuff
Don’t suffer fools.

"Never had a glass of wine
Never had a coffee"
Is that life?
But i commend your bad women!!
French ...frog

 

[tech/a]

"Never had a glass of wine
Never had a coffee"
Is that life?
But i commend your bad women!!
French ...frog

Froggy
Never liked the taste of of either even though I live minutes from the Southern Vales
The wife loves Red and drinks copious amounts of coffee. Your sort of Gal!

But still hold my own with younger Martial Artists ( one of my passions Krav Maga )
Mind you hitting the floor hurts now !
Hits in the head happen more often as I slow down. But few like to spar with me which is nice ! If they went hard I’d probably not get up! playing dead is a wise option! In some cases .
Rephrase most cases !

 

[rcw1]

we can only hope to continue being an appreciating asset.
I figure if I keep putting the good stuff in the old grey mare will keep at it
Never had a glass of wine
Never had a coffee
Smoked to 55 with 7 years off at 28 ( should never started again!)
Never Ben into drugs
Too many bad women
One great one!
Love humour

People around me dropping like flies
Last one 52!
Don’t sweat the small stuff
Don’t suffer fools.

you fordot gambling oh the joy of it all bloke

kind regards
rcw1

 

[tech/a]

you fordot gambling oh the joy of it all bloke

kind regards
rcw1

Don’t gamble much ( unless some of my trades appear like gambles —- some react like one! )

Won 7.5 k on a trifecta in the Melbourne cup
15 years ago and given it all back ( Melbourne cup is all I bet on )

Taken lots of gambles in life that friends have thought crazy —- those I didn’t take and panned out were for me the craziest .
Bat above my average in a lot of things and on the whole teaches you really quickly and worth the odd bit of pain.

Bite off more than you can chew and chew like crazy !

 

[Garpal Gumnut]

I was surfing the net and came upon this interesting youtube I thought I should share. On ageing.



gg

 

[Dona Ferentes]

I was surfing the net and came upon this interesting youtube I thought I should share. On ageing.



gg

some interesting accents there

 

[qldfrog]

some interesting accents there

Probably in NY:like it or hate it, NY humanity is stunning

 

[Dona Ferentes]

Probably in NY:like it or hate it, NY humanity is stunning

snow on the ground ... I was thinking Canadian- Tronta?

 

[Dona Ferentes]

snow on the ground ... I was thinking Canadian- Tronta?

got it... Mt Royal

 

[qldfrog]

snow on the ground ... I was thinking Canadian- Tronta?

They tell us

 

[tech/a]

Some good stuff GG

Off for 7 weeks doing retirement stuff from 1/6
UK , Ireland , Wimbledon, Portugal,

Leaving business with Managers. Just want a return on my investment
And the freedom to do as I wish.

So far so good.
Will report in about 7 weeks

Catch you soon

 

[Garpal Gumnut]

Some good stuff GG

Off for 7 weeks doing retirement stuff from 1/6
UK , Ireland , Wimbledon, Portugal,

Leaving business with Managers. Just want a return on my investment
And the freedom to do as I wish.

So far so good.
Will report in about 7 weeks

Catch you soon

Enjoy your time away, you deserve it. One of the wisest contributors on ASF and kind and helpful to beginners. It will be good for you to have a break from your other business(es). A good friend is doing a trip to Portugal, Spain, France and the UK presently. The weather is perfect and the photos sent back are glorious.

Stay happy and well tech.

gg

 

[qldfrog]

Some good stuff GG

Off for 7 weeks doing retirement stuff from 1/6
UK , Ireland , Wimbledon, Portugal,

Leaving business with Managers. Just want a return on my investment
And the freedom to do as I wish.

So far so good.
Will report in about 7 weeks

Catch you soon

Have a great trip

 

[JohnDe]

Some light reading -

The 7 deadly sins of retirement​

You might be excited to put your working years behind you, but a few missteps along the way could take a lot of the joy out of retirement. From underestimating how much you’ll need to not being proactive with your super, here are a few mistakes you’ll want to avoid.

1. Not having a vision

The first mistake is expecting your ideal retirement to magically fall into place without any planning. Like any major life transition, it requires a bit of forethought and a solid financial strategy.

Ask yourself what you want out of your retirement years. Many people take to travelling and pursuing all the hobbies that they had long dreamed of but never had time for, while others are content to lead quiet lives devoting attention to their homes and families.

What you decide will then inform how much money you’ll need. If it turns out there’s a gap between the amount you have and what you should have, look for ways to make up the shortfall.

That might involve topping up your super in the few years leading up to retirement so you’re in a better position once you officially hang up your hat. And if you plan to sell the family home and move into a smaller one, there's also the option to use some of the proceeds of sale to make a downsizer contribution into your super.

2. Underestimating inflation

Confident as you might be about your retirement plan, it won’t be worth its salt if it doesn’t factor in inflation. Say you plan to live on $4,000 a month in retirement. That might be more than enough to meet your needs in the early years, but fast forward 10 or 15 years and that same amount may not stretch nearly as far.

3. Underestimating how long you'll live

One of the biggest (and most consequential) variables in retirement planning is how long we’ll actually live. While many people rely on average life expectancy statistics for guidance, we should remember these are neither static – they can increase over time as living standards improve – nor predictions.

To put it another way: don’t assume that you’ll only need to fund 20 years of retirement. If you’re planning for a retirement that lasts until age 85, your finances might be woefully unprepared if you wind up living into your 90s or even hitting 100.

4. Getting the timing wrong

The timing of retirement isn’t always up to us. Some people continue working out of necessity – whether to boost their super, clear debts, or ride out a down market – while others are pushed into an early retirement because of illness or redundancy.

But then there are those who put off retirement out of uncertainty. They might not have a good idea of how much super they need and insist on working longer than they have to ‘just in case.’ Or there might be some mistaken beliefs at play.

One misconception that’s unfortunately common is that you can only retire once you become eligible for the Age Pension (which is typically age 67). But the truth is your super can be accessed much earlier than that. Don’t let misunderstandings like these cost you valuable years you could be enjoying not working.

5. Leaving your super in the accumulation phase

When you reach retirement age, there are two main ways you can receive your super: commencing an account-based pension or withdrawing it as a lump sum. Some people, however, leave their super in the ‘accumulation’ phase despite ticking all the boxes necessary to access it.

What they may not realise is that doing this has big tax implications. Any investment earnings in the accumulation phase will continue to be taxed at a maximum rate of 15%, unlike an account-based pension where investment earnings are generally tax-free. In other words, you could be giving up a key tax advantage without realising it.

6. Not taking advantage of your entitlements

For those who qualify, the Age Pension can be a valuable supplement to your super income, but it’s not something you can just set and forget. Your eligibility and the amount you receive depends on your income and assets, and these can change over time.

One thing to keep in mind is that Centrelink doesn’t automatically depreciate lifestyle assets like cars, boats or caravans, so their reported value can become inflated as the years go on. If you don’t update their current worth, you might wind up receiving less Age Pension than you’re entitled to.

7. Being too frugal

A surprising number of retirees pass away with most of their super untouched. This might come down to a desire to leave a large inheritance or an inability to shake the sense of scarcity that’s followed them throughout life. Whatever the reason, it should be weighed against the very real risk of squandering your golden years.

After all, spending within your means is admirable, but you don’t want to overdo it and deprive yourself of all the things that make retirement worthwhile. Think about working with a financial adviser to create a plan that occupies a sensible middle ground between over- and under-spending.

 

[divs4ever]

7. Being too frugal

A surprising number of retirees pass away with most of their super untouched. This might come down to a desire to leave a large inheritance or an inability to shake the sense of scarcity that’s followed them throughout life. Whatever the reason, it should be weighed against the very real risk of squandering your golden years.

as if i could exceed that

sure my health limits me from exotic, exciting adventures ( unless you count visiting the major suburban center when visiting Brisbane )

but any squandering will certainly be less than the various governments ( and their various plots to drain any pots of money they can locate

given most don't have a good estimate of their life-expectancy or future medical costs ( or inflation ) , i would consider it a GOOD thing if you can survive with a basically intact super ( meaning you can live on the divs/income

 

[TimeISmoney]

( and their various plots to drain any pots of money they can locate

That's going to be the surprise 'Jack in the box' for many, and most of them aren't going to see it coming.

 

[Bellcose]

It annoys the bejesus out of me when these dudes start banging on about life expectancy tables. News flash: somebody has to die in order for those tables to be compiled. I am not aware of any 30 year old who plans to dies at 43 but it happens such as a work colleague who dropped dead in front of us or a 26 yo who goes to the GP with a sore tummy and six weeks after the diagnosis came back left behind a widow and 8 month old child.

All an individual can really take from those tables is a percentage of people in a specific age group will survive to move into the next age group and a percentage will not. You cannot guarantee which percentage group you will be in.