To all of you who have had a good or great career and could afford to support your family, educate the kids and prepare for your golden years , I congratulate you . Not only do you need this planning but you must be in good health . Health is of the utmost importance . Having menial jobs most of my life , it took everything I had just to get by . God was good to us and fortune prevailed . We have a wonderful home in the north with mountain views , 2 car garage , a dog , and dependable transportation . Unfortunatly Mrs.'s health isn't good and it's a BIG exense . Anyway , a big mistake retired people make is thinking they can maintain a lifestyle that is the same as when they were working 2 jobs and spouse working 1 job . If you like working , keep working if you want . If you decide to stop working be prepared to live on 1/2 of what you previously earned . the sucky part is that prices keep going up but the income is the same . We can always go live in a ship container in the woods with no indoor plumbing . LOL
I have been blessed and divinely guided in life and in a career that spans 30 years and provides a pension and lifetime medical. It is the exception these days.
At 56, I am too young to retire according to my fathers retired friends, so I plan to work until 60. Two years later, I will get the maximum Social Security benefit if I decide to take it early. I also have 5 rental units in Silicon Valley, which continues to be very lucrative , as is the property value growth here.
I spent this past December in Thailand. It was my first time there. It is the best country and nicest people I have ever experienced, and they can friggin' drive over there. I never did get used to driving on the opposite side though. Living costs are about 12 cents on the dollar compared to here. Annual full coverage medical insurance is less than $200 a year, and medical tourism is a huge attraction there. Their doctors are almost all educated here, the facilities in the cities are brand new and state of the art.
My goal is to adopt an orphanage or small school there and help the kids get a good education. I respect and appreciate the culture they have there. It is respectful, tolerant and welcoming.
I plan to spend 3 months during our winter there each year. It will reduce my monthly living expense to less than a third of what it is here during that time, and at a much higher standard of living.
None of this was planned because I am super smart or anything, rather I have just been suiting up and showing up and doing the next right thing. My income will go up considerably when I retire do to some minor changes I'll make at the same time. I am blessed because of God working in my life.
None of this matters if I don't continue to have good health, exercise and eat & live clean though, right? It's also very important to give back with time and resources to those who are otherwise without.
