Home Forums Hunting & Shooting Hunter's Campfire If a democrat is elected I'm retiring

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?

I never really made a correlation between when I would retire and a Presidential election.

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.

This ^^^

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.

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.

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.

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 bankruptcy

I know the hard way.

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."

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.

Get ready for the black Hillary...Moooch-Hell.

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.

Fact.

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.

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.

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.

That was 11 years ago, how are you doing?

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.

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.