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Joined: Sep 2007
Posts: 964
Campfire Regular
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OP
Campfire Regular
Joined: Sep 2007
Posts: 964 |
If a democrat wins the presidency (I hope they don't, then I'm retiring). I am in my mid 50s and can take an early retirement, it will bring in about 2,500 per month. My house and car are paid for. I am a single male with no dependents, and I have simple tastes. In addition I know the country will be soon be running off the cliff. The only reason I still work now is we have great heath benefits where I work. Anyone else considering it?
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Joined: Oct 2014
Posts: 3,239
Campfire Tracker
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Campfire Tracker
Joined: Oct 2014
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I never really made a correlation between when I would retire and a Presidential election.
"Put none but Americans on guard tonight." -George Washington
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Joined: Jun 2001
Posts: 7,006
Campfire Tracker
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Campfire Tracker
Joined: Jun 2001
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If a democrat wins the presidency, and they keep the house, you might seriously consider NOT retiring- the imminent damage to the economy may make your job a necessity for making ends meet. Further, if the economy tanks as a result, due to increased regulations on business, higher taxes on citizens and business, medicare for all, free college, etc. etc., unemployment will likely spike once again, and good jobs will once again become more scarce.
I'd rather be a free man in my grave, than living as a puppet or a slave....
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Joined: Dec 2018
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Campfire Regular
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Campfire Regular
Joined: Dec 2018
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Joined: Sep 2007
Posts: 964
Campfire Regular
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OP
Campfire Regular
Joined: Sep 2007
Posts: 964 |
If we have single payer, everyone covered by federal health insurance then why work If I have retirement coming in. Or actually I may do some work "off the books". I want to move out west and hunt/fish 24/7.
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Joined: Aug 2005
Posts: 26,337
Campfire Ranger
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Campfire Ranger
Joined: Aug 2005
Posts: 26,337 |
if the socialists take over, (we're almost there now), workers will be taxed to the hilt. the economy will slowly grind to a halt.
various sub-groups will be fighting (& striking?) for pay increases to keep up with inflation/cost of living increases.
disarray in general as the working class realizes the ship is sinking, as illegal aliens pour in unabated.
an economy that isn't growing, is much like an oak tree that isn't growing. growth is essential.
not much positive growth happens when the socialists work to "re-invent" the world.
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Joined: Dec 2006
Posts: 4,119
Campfire Tracker
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Campfire Tracker
Joined: Dec 2006
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There can be some real damage done to a retirement nest egg if one retires and then the market is poor for the first few years. I would have to weigh out my options and understand if I had enough liquid money to live on should that event happen. If I had my nest egg number, and liquid money to cover 3-4 years if needed, I would consider the jump. That decision is 10 years out minimum for me.
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Joined: Jun 2003
Posts: 389
Campfire Member
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Campfire Member
Joined: Jun 2003
Posts: 389 |
Nealglen: Think about your health, and how it may change as you age. The amount of money you will spend for medication and medical treatments and care will increase with age. Will you be eligible for Social Security as well as your pension? You will not be medicare eligible until 65, and one serious illness can result in bankruptcy.
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Joined: Mar 2013
Posts: 27,091
Campfire Ranger
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Campfire Ranger
Joined: Mar 2013
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Nealglen: Think about your health, and how it may change as you age. The amount of money you will spend for medication and medical treatments and care will increase with age. Will you be eligible for Social Security as well as your pension? You will not be medicare eligible until 65, and one serious illness can result in bankruptcy. +1 one serious illness can result in bankruptcyI know the hard way.
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Joined: Feb 2003
Posts: 10,396 Likes: 4
Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2003
Posts: 10,396 Likes: 4 |
I retired the week that obuma was elected.
The wife said to me. "You've got five years left in you." I told her, "I'm not giving it to them."
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. -Ernest Hemingway The man who makes no mistakes does not usually make anything.-- Edward John Phelps
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Joined: Mar 2004
Posts: 6,065
Campfire Tracker
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Seems to me, you are getting good advice.
I imagine the current crop of democratic candidates and their health system for the planet will sky rocket co-pays to the moon in addition to other taxation. A fixed income sounds like the very opposite of what you would want to do.
Defend the Constitution
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Joined: Dec 2006
Posts: 28,172
Campfire Ranger
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Campfire Ranger
Joined: Dec 2006
Posts: 28,172 |
Get ready for the black Hillary...Moooch-Hell.
Hunt with Class and Classics
Religion: A founder of The Church of Spray and Pray
Acquit v. t. To render a judgment in a murder case in San Francisco... EQUAL, adj. As bad as something else. Ambrose Bierce “The Devil's Dictionary”
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Joined: Aug 2005
Posts: 26,337
Campfire Ranger
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Campfire Ranger
Joined: Aug 2005
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some say it's going to be a 50=50 game this next time.
we know trump is on one team.
no clue about the other.
surprises abound.
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Joined: May 2004
Posts: 56,172 Likes: 14
Campfire Kahuna
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Campfire Kahuna
Joined: May 2004
Posts: 56,172 Likes: 14 |
Nealglen: Think about your health, and how it may change as you age. The amount of money you will spend for medication and medical treatments and care will increase with age. Will you be eligible for Social Security as well as your pension? You will not be medicare eligible until 65, and one serious illness can result in bankruptcy. +1 one serious illness can result in bankruptcyI know the hard way. Fact.
I am..........disturbed.
Concerning the difference between man and the jackass: some observers hold that there isn't any. But this wrongs the jackass. -Twain
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Joined: Oct 2005
Posts: 362
Campfire Member
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Campfire Member
Joined: Oct 2005
Posts: 362 |
A couple of thoughts. Trump is good for the economy. If dim is elected, I would recommend moving assets from stocks to bonds. It may take a year or so, but I see another recession coming. The second thought, with the lower taxes, now is the time tp be putting money into a Roth 401k. If a dim wins, taxes will likely be raised, so a regular 401k might be better. Obviously there are other considerations, but its a good rule of thumb.
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Joined: Dec 2006
Posts: 28,172
Campfire Ranger
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Campfire Ranger
Joined: Dec 2006
Posts: 28,172 |
Nealglen: Think about your health, and how it may change as you age. The amount of money you will spend for medication and medical treatments and care will increase with age. Will you be eligible for Social Security as well as your pension? You will not be medicare eligible until 65, and one serious illness can result in bankruptcy. +1 one serious illness can result in bankruptcyI know the hard way. Fact. No Kidding! I got real close in 2007. I was able to work myself out of it, but I never recovered financially completely. I managed to keep most of my real estate, now almost all of it paid off. It's my nest egg. If I had cash I'd be buying some bonds and preferred stock now.
Last edited by luv2safari; 07/20/19.
Hunt with Class and Classics
Religion: A founder of The Church of Spray and Pray
Acquit v. t. To render a judgment in a murder case in San Francisco... EQUAL, adj. As bad as something else. Ambrose Bierce “The Devil's Dictionary”
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Joined: Feb 2007
Posts: 11,789
Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2007
Posts: 11,789 |
If a dem is elected, you can be assured that the economy will reverse directions. Taxes will rise, regulation will increase, health care costs will go from bad to disastrous. Our salvation if Trump loses, is hoping to keep the senate and possibly flip the house.
NRA Patron
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Joined: Jun 2012
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Campfire Tracker
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Campfire Tracker
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I retired the week that obuma was elected.
The wife said to me. "You've got five years left in you." I told her, "I'm not giving it to them." That was 11 years ago, how are you doing?
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Joined: Jul 2006
Posts: 4,844 Likes: 3
Campfire Tracker
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Campfire Tracker
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A couple of thoughts. Trump is good for the economy. If dim is elected, I would recommend moving assets from stocks to bonds. It may take a year or so, but I see another recession coming.
If a Dem gets in and enacts reparations......say they gave a windfall to every sophisticated urbanite. BUY everything, but especially auto stocks and gold. It would be the biggest stimulus package in the history of money. 90 Cents on every reparation dollar if not more would be spent on bling.
Last edited by RJY66; 07/20/19.
"Men must be governed by God or they will be ruled by tyrants". --- William Penn
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Joined: Jan 2019
Posts: 166
Campfire Member
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Campfire Member
Joined: Jan 2019
Posts: 166 |
Our Democracy and freedom is gone if Democrat win the Presidency. They will come for our guns first....then they will tell us what to eat. what to wear and they will bring so many migrants.
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