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Old 02-23-07, 03:04 PM   #1
scottogo
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Planning For Retirement

Recently a thread asked "Where should I retire?"
Can you recommend an easy to understand book or website that helps to plan for retirement?
Thank you.
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Old 02-23-07, 03:11 PM   #2
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Here's an easy-to-understand book that includes a number of time honored techniques.

http://www.amazon.com/Automatic-Mill...e=UTF8&s=books
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Old 02-23-07, 04:28 PM   #3
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John Wesley said it all:

"Earn all you can, save all you can, give all you can."
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Old 02-23-07, 06:15 PM   #4
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Quote:
Originally Posted by scottogo
Recently a thread asked "Where should I retire?"
Can you recommend an easy to understand book or website that helps to plan for retirement?
Thank you.

The "where should i retire" thread was very helpful for me and there were a lot of great suggestions - and debates! I received some advice from a few friends that I thought I would pass on.

1. If you plan to relocate to a new location, how will you make social contacts/friends there? When younger with children at school and activities, there is a natural place to meet people. As well your work provides a number of potential people to socialize with. But without these, you may end up isolated. Certainly the "active lifestyle locations" that are springing up are great because of everyone has moved in, are similar in age and there are quite a few clubs, social groups and club houses etc.

2. Don;t try to follow your children. I am 50 and have during my 27 yrs of work have lived in 7 different locations. I know my parents couldn;t have kept up with that! So if you plan to relocate, move somewhere where your kids want to visit and spend time. Being close to the beach or skiing locale or whatever might attract them and potential grandchildren. Having the discussion with your kids is helpful - although frustrating (my daughter still wants me to buy a villa in Italy -right!)

3. Really consider downtown in a vibrant city. Ok it isn;t great for biking but you can always drive out and start outside the city limits - or pick a city with nice bikepaths. Why a city - well there is so much to do - restaurants, theatre, sporting events, colleges/universities for continuing education, etc. A lot of how you feel physically is how you feel mentally and being in a vibrant locale can keep you feeling young. As well, you can walk everywhere. I hate living places where you have to get into the car to get anywhere. How about walking to get a newspaper and coffee in the morning, a walk thru the park etc. My personal favorite is Toronto or Chicago (OK only for about 6 mos of the year). And then somewhere warmer for the other 6 months - still searching for that spot!
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Old 02-23-07, 06:15 PM   #5
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Quote:
Originally Posted by scottogo
Recently a thread asked "Where should I retire?"
Can you recommend an easy to understand book or website that helps to plan for retirement?
Thank you.
So you're not asking "what bikes should I have for retirement?"
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Old 02-23-07, 06:19 PM   #6
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I read so many books on places to retire and I ended up in Katy Texas. Go figure. I went to some of the places that they said were great, and I didn't think they were. I guess it's just like saddles, you have to get something that fits you. I wish I could be more help as I went though the same thing, but I found more up to date stuff on the internet. I thought the taxes were to high in Texas but after I moved here I found them to be half of what I paid in Illinois. I do know one thing though, I don't miss the snow a bit. I read where retired people move 3 times on average. This is my second time. I lived on the coast of Alabama and got hammered by hurricanes for 3 years. I moved here and I really like it, but I've only been here a year. The town where I'm at now is really heavy into bicycling and that's how I got started. Anyhow good luck, I did a lot of homework for nothing, maybe you can connect. If my son didn't live here I would have been in Huntsville Alabama now. I was paying $300 taxes a year when I lived over there. Huntsville is a real sleeper.
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Old 02-23-07, 06:35 PM   #7
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Quote:
Originally Posted by Road Fan
So you're not asking "what bikes should I have for retirement?"
This is my plan sofa
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Old 02-23-07, 09:51 PM   #8
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Quote:
Originally Posted by scottogo
Recently a thread asked "Where should I retire?"
Can you recommend an easy to understand book or website that helps to plan for retirement?
Thank you.
If it is financial advice you need, find a financial planner (CFA) who works on fee not commission basis. Your bank may be bale to help.
You might also look at fidelity.com. This has some good financial planning software.
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Old 02-23-07, 10:28 PM   #9
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If you type in "retirement" on Amazon you get about 1000 different books on the subject. Die Rich, Die Poor, Retire Rich, Wher to Retire . bla, bla, bla

From the guys I know that have retired they all say the easy part was planning the financial end. What and how you plan and use your time seems to be a major issue within your own financial situation. One guy says he is going back to work!
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Old 02-23-07, 11:39 PM   #10
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Quote:
Originally Posted by Jet Travis
Here's an easy-to-understand book that includes a number of time honored techniques.

http://www.amazon.com/Automatic-Mill...e=UTF8&s=books
Yup. 've always been a fan of the "pay yourself first" plan. I used to worry that I wasn't paying myself enough, but it truely is amazing how fast it grows if you start early and never deviate.

But here's a danger they don't tell you about. If all of your close relatives are not observing the same discipline, those that don't will likely be coming after your nest egg some day. And how can you turn away family.
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Old 02-24-07, 06:47 AM   #11
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All the tools I've ever used have depressed the crap out of me. It's always directing me to have twice the amount I already have-regardless of how much I've saved or how much I sock away. My plans always show me being very close to retiring but also just beyond my reach......I'm just hoping I'll know when it's time to step away!!!!!

And I'm feeling more and more like stepping away every day I work!!!
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Old 02-24-07, 11:39 PM   #12
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Appreciate the comments gentlemen.
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Old 02-27-07, 06:39 PM   #13
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Quote:
Originally Posted by scottogo
Appreciate the comments gentlemen.
I guess I'll just end up with teh bikes I have when I retire!
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Old 02-27-07, 08:33 PM   #14
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Here's a bunch of links from our favorite 50+ organization:

http://www.aarp.org/money/financial_planning/
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Old 02-27-07, 08:43 PM   #15
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Here are some other well-regarded books:

http://www.amazon.com/New-Retirement...e=UTF8&s=books

http://www.amazon.com/Your-Retiremen...e=UTF8&s=books

http://www.amazon.com/You-Can-Do-Boo...e=UTF8&s=books

http://www.amazon.com/J-K-Lassers-Yo...e=UTF8&s=books
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Old 02-27-07, 08:46 PM   #16
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Go for a place that pleases you physically -- do you crave the coast, the water, or prefer the mountains and hills, or whatever suits you -- do you really like heat, or a more temperate climate -- and go from there. Some people love the desert, others need the ocean or a lake, or lots of trees, and others just want a friendly place where people are nice and taxes are low. Don't go against your gut feeling, go with it.
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Old 02-27-07, 08:48 PM   #17
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Or you can send me $100,000 to find out the secrets.
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Old 02-28-07, 07:46 AM   #18
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Quote:
Originally Posted by Hwy 40 Blue
Go for a place that pleases you physically -- do you crave the coast, the water, or prefer the mountains and hills, or whatever suits you -- do you really like heat, or a more temperate climate -- and go from there. Some people love the desert, others need the ocean or a lake, or lots of trees, and others just want a friendly place where people are nice and taxes are low. Don't go against your gut feeling, go with it.
This is a great observation. The people I've known who started retirement by living where they wanted to live -- even if they "couldn't afford it" -- lived longer, happier lives.
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Old 02-28-07, 08:07 PM   #19
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I wish I had the option of living where I would want to live. Instead there is about a 95% chance we'll end up living close (within 100 miles) of my wife's family. So I will be looking for the "best" spot within that limitation. It'll be okay, but it isn't going to be my dream place to live.
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Old 03-03-07, 10:23 PM   #20
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Another suggestion would be "Your Money or Your Life" by Joe Dominguez and Vicki Robin.

http://www.yourmoneyoryourlife.org/

I first read it in 1997 after having figured I would need to work until I was 70. I retired 3 years later at age 57. Neither I nor my wife have worked since, nor will we ever need to - from what I figure.

The book discusses peoples relationship with money and "What is enough?" It is a book about living simply, and it is kind of anti-shopping to be sure. Have to admit it might not seem very fun to someone who has never had very much, but what it illustrates is that even the less well-off folks do NOT need all the things they are told they do. Fits in really well with riding a bike as much as you can vs. driving a car everywhere.
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