doublegunshop.com - home Forums General Discussion DoubleGun BBS @ doublegunshop.com Retirement Strategy

If I may further embelish on King's quotation of the bard, I believe that this from Dylan Thomas has much meaning for those of us who relish what we do, collect what we really like, and hopefully pass on some useful knowledge to those who come after:

Do not go gentle into that good night,
Old age should burn and rage at close of day;
Rage, rage against the dying of the light.

Though wise men at their end know dark is right,
Because their words had forked no lightning they
Do not go gentle into that good night.

Good men, the last wave by, crying how bright
Their frail deeds might have danced in a green bay,
Rage, rage against the dying of the light.

Wild men who caught and sung the sun in flight,
And learn, too late, they grieved it on it's way,
Do not go gentle into that good night.

Grave men near death, who see with blinding sight,
Blind eyes could blaze like meteors and be gay,
Rage, rage against the dying of the light.

And you, my father, there on that sad height,
Curse, bless me now with your fierce tears, I pray.
Do not go gentle into that good night,
Rage, rage against the dying of the light.

I know men half my age who live in such a narrow world and have little of interest beyond their job. They plod along day after day doing the same thing as the day before. Work, eat, watch TV, & sleep and when they reach the end they ask themselves: "Is That All There Was To Life?" No for me, I will not go gentle into that good night! I want to spend my last moments here on this earth discovering new things and doing the things that I enjoy with the folks that I enjoy doing them with.

I apologize if this was a bit O/T, but it made me feel good......Best Regards To All......George

Well its been a while since I commented or read this post, retired this year at 73, 40 years in the business and all but first 3 with same firm. Received many cards and calls from clients thanking me for my help over the years, was told by many that I made a positive difference in their lives.Didn't receive any negative comments or law suits so I think I did right by my 4 generations of clients. I have always used commissions OR fee's whichever was best for the client. EVERYONE WORKS FOR A FEE OR A COMMISSION, clerks, lawyers, bankers, clerks, teachers, mechanics, gun shop owners, the person behind the desk at the gun show. Based on the assets we manage and the advice we give with NO COMMISSION, our FEE on total assets under management is considerably less than 1%.
I have been very fortunate to have been in this profession and apparently my clients who have become friends apparently feel the same. If not I don't think they would have referred family and friends to me. now for my political statement, if you elect any of the Democrats running you should sell your investments and particularly your guns, because the Democrats will pass laws making it illegal for you to own them. Best wishes for a long life, I intend to shoot more clays, maintain my health and do more with my grandchildren, started the 8 year old in a fly tying class last week, he loved it and so did I. Unfortunately
shooting and especially hunting is dying, (don't see many young people shooting these days).

Best of luck to you. I�ll have a minor child in the house when I hit age 62, I can collect an additional 50% of my maximum Social Security per month until he is done with secondary education. Problem is, I love the damn job. 7 hour shift, decent money and benefits, close to home. If my health holds out, staying on past retirement age wouldn�t break my heart.
Lots to consider. I think my best investments were the guns people left me in their estate, except, I haven�t sold a one of them.

Best,
Ted

Ted, I didn't plan to retire but after this mild heart attack, had a serious one 20 areas ago, (5 way by-pass), don't mean to make light of the recent one. I always told my clients that wanted to retire early to have hobbies or interest's or keep working. My experience has been retiree's that don't something to do, die after 5 or 6 years regardless of age at retirement. so the moral of this story is, stay busy or don't retire. Also plan on retirement assets to last as long as you last. possibly 30 years.

congratulations, Murphy and happy shooting in your retirement!

I hope you enjoy it.

An interesting thread to read, and I must say...sobering. Having spent a little time in a semi-retired state, Mr. Murphy's words ring very true for me. A chemist I'm working with at a field lab in nowhere Nebraska these days is 72 (& here I thought I'd be the old guy on site!). His theory is very simple, people are like sharks....you're either moving forward or you die. Everyone needs a mission, a purpose, a goal (this may be even-more important for men as we are what we do). If you have children, they provide lots of missions, grandchildren....even better. There is always going to be a need with family, a purpose.

As far as hobbies go, guns and hunting (& fishing) can be multifaceted and invigorating. I see it as more of a lifestyle than a hobby, requiring more than just a little maintenance of the physical plant. Stay healthy enough to hunt & fish effectively and you'll stay healthy enough for just about everything else.

Heart surgery (7 way bypass) retired me three years ago at age 68. Outdoor hobbies are getting difficult. I'm enjoying it so far. I'll let you know how much I still like it when the money runs out...Geo

I don,t know if the next 30 years in the market will exceed or match the last 30 years but I do know that current CD rates won't keep up with inflation so most of my investment are in the market, invested in stocks, mutual funds, fixed income (preferred stocks and bonds),and variable annuities with guaranteed death benefits and guaranteed living benefits. The annuities do cost more but I feel they are worth it because they DO more. Remember (cost vs benefit). More on the annuities,
cost more / do more, A variable annuities invest with mutual fund companies and tack on the extra cost so that they can provide death benefits and living benefits that last for life. mutual funds can't do this. I don't know about you but I believe this great market we have experienced will correct sometime but who knows when. For me, not everyone, the extra cost of a variable annuity vs mutual fund or stock is worth it, especially with the high market we now have and low interest rates on many fixed income products. why not invest some of your funds into a product that has historically beaten inflation and has the death benefit and living benefits that aren't available in mutual funds. And please don't think that when you die the annuity company keeps your money, the living benefit is just that you do not annuitize it. I am planning on our investments to last for 30 years and protect purchasing power since we might last 30 years. I don't believe older people have lower cost of living, only 2 things i know of that are cheaper today than in the past is electronics and life insurance (due to mortality tables, people are living longer). As we age, health care, nursing homes cost more and in my opinion, need for long term care (nursing home) is much more devastating to portfolio than temporary market correction or increasing interest rates.

Not quite a decade ago, I rolled a company pension over into an annuity. But, it isn�t the only investment, just a part of the picture.I hesitate to believe that my situation is ideal for stocks, but, I own a few. The money market funds seem to be a better option for a guy like me in these times, I believe the market is changing too quickly for little guys to have a bunch of money in individual stocks. My bunch of money is not a bunch of money to some people. That said, I am stunned at the people in my age bracket who have nothing saved. Nothing. I also have friends who left the job market, due to injury or illness, who have almost nothing.
As Lloyd put it, sobering.
You guys who are already retired, I wish you the best. I look forward to it, someday, but, I�m holding it off for as long as I (physically) can.

Best,
Ted

While fools and hoarders are scheming their lives away,
I am living large.

Just bought a set of pipes for my 700 that should let me touch 150hp.
With some clutch work, I'll be hitting 140mph without over revving.

Good times.