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65 members (kyles, Tall Dog, bamafarmer, courseup, Ray_Coon, bamafan1966, bambam32, mayberry51, Pwyse, TurkeyJoe, !shiloh!, mathews prostaff, Showout, Daveleeal, S_Dubs, Geeb, Jay512, THIS_BUCKHUNTER, Raspy, Beer Belly, BuckSpear, m97, Ridge Life, oakachoy, rkt, BrentsFX4, Skullworks, IMISSALDEER, wk2hnt, jtillery, NotsoBright, booner, RockFarmer, Irishguy, PossumPecker, gobblebox, PikeRoadHunter, GomerPyle, Mbrock, ultratec00, Bronco 74, Cynical, 7x57_Mauser, hippi, Tracker, johnnyj, TEM, dagwood, Chaser357, UA Hunter, Fattyfireplug, Carp54, Red Fox, ImThere, rrice0725, Canterberry, 4Tigers, AU338MAG, 7 invisible),
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Key:
Admin,
Global Mod,
Mod
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Joined: Feb 2009
Posts: 4,006 Likes: 2
10 point
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10 point
Joined: Feb 2009
Posts: 4,006 Likes: 2 |
What percentage of retirement-aged folks still have a mortgage? Had a mortgage one time. It was for 6 years. Never again. I’m cash only.
"We have an opponent in this state that we work every day, 365 days a year, to dominate."
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Joined: Apr 2010
Posts: 3,306
10 point
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10 point
Joined: Apr 2010
Posts: 3,306 |
What percentage of retirement-aged folks still have a mortgage? Probably quite a few. I bought a house ( financed) in 2013 when they weren't selling so fast. Worked a lot and paid off in 8.5 years. 54 now
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Joined: Aug 2016
Posts: 3,445
10 point
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10 point
Joined: Aug 2016
Posts: 3,445 |
I tell all these young 22 year old teachers start putting in your 403b. I dont care if its 20 bucks. Then take it up 10 a year. When your my age and I am dead you will thank me
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Joined: Aug 2007
Posts: 3,279
10 point
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10 point
Joined: Aug 2007
Posts: 3,279 |
If you will be able to retire at 58 you are kicking arse. Even with a pretty good income between my wife and I and a pretty moderate lifestyle I had to go to 66 to get us both on Medicare and me to full SS age. Needed to max out my SS because it is twice that of my wife and statistically I will be going in the ground long before her. I have no clue how the 86% are gonna survive because even with no debt, no mortgage and a fixed SS/pension income thats way more than my wife’s previous income as a teacher we have yet to live within our means in our last 1 1/2 years. I keep telling the wife unit we gotta quit having so much fun but that day has not come yet lol
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Joined: Aug 2016
Posts: 424
4 point
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4 point
Joined: Aug 2016
Posts: 424 |
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Joined: Jan 2006
Posts: 5,076
12 point
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12 point
Joined: Jan 2006
Posts: 5,076 |
If you will be able to retire at 58 you are kicking arse. Even with a pretty good income between my wife and I and a pretty moderate lifestyle I had to go to 66 to get us both on Medicare and me to full SS age. Needed to max out my SS because it is twice that of my wife and statistically I will be going in the ground long before her. I have no clue how the 86% are gonna survive because even with no debt, no mortgage and a fixed SS/pension income thats way more than my wife’s previous income as a teacher we have yet to live within our means in our last 1 1/2 years. I keep telling the wife unit we gotta quit having so much fun but that day has not come yet lol Brad, I assume you are talking about me since you mentioned 58. I am thankful to be employed by a company that offers a very generous benefits package. Unfortunately, I have only been with them 13 years out of the last 29, I have made best use of those 13 years with saving. My company still offers a pension and they put money aside for us to pay our medical insurance when we do retire. Without the pension and insurance money the goal of retirement at 58 would not even be possible. Had I been wiser and better informed on how to save and invest the 16 years I wasted I would be much better off. I have been blessed to all these years with a good paying job, just wish I had been smarter and I would be considering retirement at 50 rather than 58.
"Tomorrow is the most important thing in life.
Comes to us at midnight very clean.
It's perfect when it arrives and it puts itself in our hands.
It hopes we've learned something from yesterday."
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Joined: Jun 2015
Posts: 14,393
Booner
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Booner
Joined: Jun 2015
Posts: 14,393 |
Wow that’s nuts Median barely even registers any color from 0-death Average never even gets too close to hitting $500,000
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Joined: Jul 2012
Posts: 5,661
12 point
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12 point
Joined: Jul 2012
Posts: 5,661 |
I’m 55, zero debt, never going to retire.
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Joined: Nov 2009
Posts: 2,743 Likes: 2
10 point
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10 point
Joined: Nov 2009
Posts: 2,743 Likes: 2 |
Wow that’s nuts Median barely even registers any color from 0-death Average never even gets too close to hitting $500,000 From the article: First, I use a strict definition of retirement savings – 'retirement accounts' and any defined benefit plans which have a cash value. Here is the link to his net worth article: https://dqydj.com/net-worth-percentiles-by-age/
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Joined: Feb 2007
Posts: 21,985
Freak of Nature
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Freak of Nature
Joined: Feb 2007
Posts: 21,985 |
I drive by homes where folks live that. Housing authority oversees maintenance and most probably pay 100 a month to live there. Heck I knew a lady that did my retouching back in the in the film days. She’s was very talented. Lived in government housing paying $100 a month. Got her ebt card etc….. reduced utilities and so forth. Folks living their best life cause they don’t want nothing.
Sadly this lady could’ve and did at one time make bank doing what she was doing. Worked for National Geographic retouching their chromes. I mean making good money but pressure got her.
She always seemed a little off but like I said never worried about much it seemed. She’d make remarks like I don’t know why more people don’t live like I do.
“Socialism only works in two places: Heaven where they don't need it and hell where they already have it.” ― Ronald Reagan
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Joined: Mar 2012
Posts: 2,510
10 point
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10 point
Joined: Mar 2012
Posts: 2,510 |
Many people saying being better educated may have changed things. I don't think it's an education thing, I think it's a self discipline thing. People want the high dollar truck and fancy house more than they want the retirement account. We all know we should save or need to save more but the overwhelming majority don't.
"The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." Thomas Jefferson
"I ask, who are the militia? They consist of now of the whole people, except a few public officers." George Mason
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Joined: Mar 2018
Posts: 2,507
10 point
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10 point
Joined: Mar 2018
Posts: 2,507 |
I bought land with about 150,000 of mine after retirement. My wife fussed a little but I got a heck of a deal from my favorite cousin. Since then rich duck hunters have bought all around me. I keep there’s up because most aren’t local and mostly they just want to have a big dove hunt and only duck hunt a few times. Land prices have tripled. I told my wife when I kick out she will be more than set
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Joined: Aug 2001
Posts: 10,290
Booner
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Booner
Joined: Aug 2001
Posts: 10,290 |
I don’t remember the exact numbers but heard the other day on the radio the number of retirement age people with mortgages now is considerably higher than in the eighties
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Joined: Sep 2001
Posts: 1,013
6 point
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6 point
Joined: Sep 2001
Posts: 1,013 |
I deal with this in the work I do every day. It has zero to do with education. It has everything to do with living within your means.
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Joined: Jan 2018
Posts: 5,425
12 point
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12 point
Joined: Jan 2018
Posts: 5,425 |
My plan is to work as long as possible. I’d be totally bored unless I had time and a significant amount of $$$. My current job ain’t exactly roofing work either… Same here. I have found if I hunt and fish every single day it isn't nearly as much fun as if I go once every week or two for some reason. Been saving my whole life and will be ok but I have a coworker who is 60 and has only saved $50k towards retirement.
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Joined: Jan 2018
Posts: 5,425
12 point
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12 point
Joined: Jan 2018
Posts: 5,425 |
Getting rich is not about how much you make, its about how little you spend. Believe it. Make interest work for you not against you.
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Joined: Jan 2018
Posts: 5,425
12 point
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12 point
Joined: Jan 2018
Posts: 5,425 |
We are 3 to 5 years away from retirement. The worry is I was a cradle robber and Mrs Biscuit will be too young for Medicare for a while. We should stay in the top 10 percentile since we are pretty conservative in our 401k investments and there’s a vested retirement scheme through work. Add in whatever the SSI thieves give back should keep us off Alpo and able to take some off season trips before we get called up. Ain't no money in the world as valuable as a younger hot wife haha.
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Joined: Mar 2018
Posts: 11,520
Booner
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Booner
Joined: Mar 2018
Posts: 11,520 |
I’m 55, zero debt, never going to retire. My goal is to be debt free in the next 5-8 years. That’ll put me 42-47 years old debt free but won’t retire… if I hussle I could do it in less but it’d be tight. Hard to do with no job providing insurance..
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Joined: Dec 2012
Posts: 16,401
Old Mossy Horns
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Old Mossy Horns
Joined: Dec 2012
Posts: 16,401 |
I'll never be able to retire but we don't have a house payment and live on 180 acres. If we ever get ready to retire we will just sell out I guess. But I plan on living while I'm physically able to. I'm not waiting until 65 to buy a boat then have a massive heart attack at 58 like my grandpa did.
We will burn that bridge when we get there
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Joined: Mar 2018
Posts: 11,520
Booner
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Booner
Joined: Mar 2018
Posts: 11,520 |
I'll never be able to retire but we don't have a house payment and live on 180 acres. If we ever get ready to retire we will just sell out I guess. But I plan on living while I'm physically able to. I'm not waiting until 65 to buy a boat then have a massive heart attack at 58 like my grandpa did. 60 is the magic number for males in my family… I want to work and play till then myself..
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