Why the world is rooted.

[billy the kid]

Well definitely....although we were never an empire...

[billy the kid]

https://edition.cnn.com/2019/07/10/poli ... index.html

Iran attempts to seize UK oil tanker.....
It just gets better and better...doesnt it.....

[billy the kid]

https://www.zerohedge.com/

These are worrying numbers....

Some time ago I read an article which stated that in ten years, 40% of Americans will not see
a cent of their 401K.....(assuming they retired in 2029)
Not sure about that but the trend seems to be heading that way...
But what is really the retirement age in the US...
According to ZH (Smartasset data from 2017) by age 63 nearly half of the population is no longer working...
That suggests that if youre in the US and you are 53...in ten years you have a 40% of not seeing any of your
401K.....that sounds a bit grim....maybe more than a bit grim.....
Believe what you want to believe....401Ks seem to be getting a hammering in the US in recent times...

[Black Orchid]

As far as I know you can draw down your 401k at the age of 59 1/2. Before that you get a 10% penalty.

[billy the kid]

Yes, but those workers who have not reached 59.5 in ten years would have to be worried that
there might not be anything there when they reach that age...
And thats not factoring in any stockmarket collapse/worldwide GFC...etc etc...
Personally I dont think anyone in Australia under about 20 will ever see a cent of their superannuation....(equivalent to US 401K)
But hay....thats just me......

sorry....wrong link above..try this one....

https://www.zerohedge.com/news/2019-07- ... op-working

[Black Orchid]

I guess that's why the smart ones do enough ongoing research to enable them to handle their own super in a self managed fund. After all it is their future.

[Valkie]

This is why I'm retiring next year ....at 61.

The thieving grubberment won't give me my deserved pension until I'm 67
So I will simply live off some of my super until then.
By then I'll have depleted a good portion of my super and will be entitled to at least a part pension, eventually, my full pension.

But at least I get to spend
MY MONEY before these thieves get their grubby little hands on it.

[billy the kid]

This is why I'm retiring next year ....at 61.

The thieving grubberment won't give me my deserved pension until I'm 67
So I will simply live off some of my super until then.
By then I'll have depleted a good portion of my super and will be entitled to at least a part pension, eventually, my full pension.

But at least I get to spend
MY MONEY before these thieves get their grubby little hands on it.

Tell me its none of my business if Im out of line.......are you in good health....

[Valkie]

This is why I'm retiring next year ....at 61.

The thieving grubberment won't give me my deserved pension until I'm 67
So I will simply live off some of my super until then.
By then I'll have depleted a good portion of my super and will be entitled to at least a part pension, eventually, my full pension.

But at least I get to spend
MY MONEY before these thieves get their grubby little hands on it.

Tell me its none of my business if Im out of line.......are you in good health....

Depends on what you call good health.
I broke my back 16 years ago and suffer every single day.
I have hypertension, and every bone in my body aches because I cannot exercise due to my back.
I'm overweight, have irritable bowel

But apart from that I'm quite ok.
The back is my biggest issue
I have to get up in the morning and have a very hot shower to help me move.
I then do 25 min of back strengthening exercises, mostly stretching and tension exercises.
Then I can get dressed, have breakfast and drive an hour to work.

Basically, I get up at 4.30 am every day, leave home at 6.00 am and get to work at 7.00 am.
My job is predominantly sitting at a computer, but I break it up with regular walks around the 2 kilometer factory floor.
I finish at 4.00pm, drive home and get home at 5.00 to 5.30 depending on f#$Ken roadworks and settle in for the night.

I feel that this is too much for a man my age and health.
So I plan to pull the plug and firstly have one more trip to England for 6 o 8 weeks.
When we get back, we will be going on an extended caravan tour around Australia.

I figure an income of 50k a year, tax free, should do it.
We own everything we have, and I have rebuilt the kitchen and bathroom recently.
New roof, and all the whitegoods have been replaced with top of the line industrial equipment for longevity.

We don't drink , smoke or have expensive tastes.
In 6 years I will become eligable for the part pension, which will help quite a bit.
By then, we will have done most everything we want to do.
I can settle into volunteer work a couple of days a week and just enjoying the last years of our life.

By the way, longevity is the norm in or family
The last 4 generations all lived past 90
That gives me around 30 years.

[billy the kid]

The reason I asked is that I have a friend who retired some years ago before pensionable age.
He told me in a nutshell, that his financial adviser told him to apply for a disability support pension, and have his doctor
certify that he was unfit for work...which he was.... It was suggested that he take a lump sum payment from his superannuation and re invest the lump sum either into a rollover super fund or a DIY super fund....
His full non taxable disability support pension was granted and was unaffected by his super payout..
The DSP continued until he turned 65 and then he received a full pension...(reviewable every two years)
I feel that you probably know all the ducks guts of retirement..but my friend was unaware of all this until he
spoke to his retirement planner....
Another friend of mine retired, rented his house out, bought a beautiful caravan, travelled around Australia, working
a lot...came back in ten years..sold his caravan..kicked his tenants out..moved back into his home....long story.....
Everyones circumstances are different I suppose...
I wish you well in your retirement...enjoy your travel...