Retirement Planning

Anything!

Retirement Planning

Postby Corona Man » Wed Jul 23, 2025 2:27 pm

I know I am a bit older than most on here, so this topic probably not for everyone...... yet.

While on holiday recently I got stuck into a book, that a mate had recommended - "How to have an epic retirement" by Bec Wilson. I am about 2/3 of the way through, and I must say, it's changed a lot of my previously held ideas about what can be achieved, both financially, but more importantly, in general life in retirement. It's a holistic approach.

I've spent a bit of time pulling together a spreadsheet and trying to work out how much $$ we need to finally pull the pin on this whole working for a living caper. It's provided some clarity for me, and leaves me feeling pretty positive, that we are on track. While "super" will always be subject to geo-political situations, such as Trumpy having the odd brain fart. I've always adopted the longer-term view.

The key folks, is this. Compounding interest.

Understand this, and you are on the road to retirement.
1961, 1971, 1976, 1978, 1983, 1986, 1988, 1989, 1991, 2008, 2013, 2014, 2015.... And don't you forget it!
User avatar
Corona Man
Coach
 
 
Posts: 13063
Joined: Thu Oct 02, 2014 2:28 pm
Location: Near the Beer Fridge
Has liked: 1334 times
Been liked: 3705 times
Grassroots Team: Echunga

Re: Retirement Planning

Postby Jimmy_041 » Wed Jul 23, 2025 2:35 pm

Thanks for the heads up
dedja: Dunno, I’m just an idiot.
User avatar
Jimmy_041
Coach
 
 
Posts: 15101
Joined: Sun Nov 09, 2008 5:30 pm
Has liked: 832 times
Been liked: 1282 times
Grassroots Team: Prince Alfred OC

Re: Retirement Planning

Postby Corona Man » Wed Jul 23, 2025 2:41 pm

Jimmy_041 wrote:Thanks for the heads up

I'd say you are well in front of me in terms of planning and understanding compounding interest.

I held a pretty naive view, that you retire & pull you money out to live off it. Hadn't considered an annuity or similar where you keep making money, while you draw down.

I found the book helpful, and am merely recommending it to others if they want.
1961, 1971, 1976, 1978, 1983, 1986, 1988, 1989, 1991, 2008, 2013, 2014, 2015.... And don't you forget it!
User avatar
Corona Man
Coach
 
 
Posts: 13063
Joined: Thu Oct 02, 2014 2:28 pm
Location: Near the Beer Fridge
Has liked: 1334 times
Been liked: 3705 times
Grassroots Team: Echunga

Re: Retirement Planning

Postby Lightning McQueen » Wed Jul 23, 2025 2:49 pm

I'll cark it 3 weeks before retiring anyway so I'll just take the win if I get there.
HOGG SHIELD DIVISION V WINNER 2018.
User avatar
Lightning McQueen
Coach
 
Posts: 53586
Joined: Mon Mar 03, 2008 9:43 am
Location: Radiator Springs
Has liked: 4610 times
Been liked: 8559 times

Re: Retirement Planning

Postby wenchbarwer » Wed Jul 23, 2025 2:51 pm

Lightning McQueen wrote:I'll cark it 3 weeks before retiring anyway so I'll just take the win if I get there.


Murtaugh, is that you?
my yes be yes, my no be no
wenchbarwer
League - Best 21
 
 
Posts: 2491
Joined: Wed Feb 24, 2021 12:30 pm
Has liked: 1362 times
Been liked: 568 times

Re: Retirement Planning

Postby Lightning McQueen » Wed Jul 23, 2025 2:52 pm

wenchbarwer wrote:
Lightning McQueen wrote:I'll cark it 3 weeks before retiring anyway so I'll just take the win if I get there.


Murtaugh, is that you?


I'm being conservative too, Dad, Pop, my uncle and aunty all died at 62, I'll be having a massive 63rd if I'm successful.
HOGG SHIELD DIVISION V WINNER 2018.
User avatar
Lightning McQueen
Coach
 
Posts: 53586
Joined: Mon Mar 03, 2008 9:43 am
Location: Radiator Springs
Has liked: 4610 times
Been liked: 8559 times

Re: Retirement Planning

Postby wenchbarwer » Wed Jul 23, 2025 2:53 pm

Lightning McQueen wrote:
wenchbarwer wrote:
Lightning McQueen wrote:I'll cark it 3 weeks before retiring anyway so I'll just take the win if I get there.


Murtaugh, is that you?


I'm being conservative too, Dad, Pop, my uncle and aunty all died at 62, I'll be having a massive 63rd if I'm successful.


Well, now I feel bad about making a death before retirement joke...
my yes be yes, my no be no
wenchbarwer
League - Best 21
 
 
Posts: 2491
Joined: Wed Feb 24, 2021 12:30 pm
Has liked: 1362 times
Been liked: 568 times

Re: Retirement Planning

Postby dedja » Wed Jul 23, 2025 3:18 pm

Corona Man wrote:I know I am a bit older than most on here, so this topic probably not for everyone...... yet.

While on holiday recently I got stuck into a book, that a mate had recommended - "How to have an epic retirement" by Bec Wilson. I am about 2/3 of the way through, and I must say, it's changed a lot of my previously held ideas about what can be achieved, both financially, but more importantly, in general life in retirement. It's a holistic approach.

I've spent a bit of time pulling together a spreadsheet and trying to work out how much $$ we need to finally pull the pin on this whole working for a living caper. It's provided some clarity for me, and leaves me feeling pretty positive, that we are on track. While "super" will always be subject to geo-political situations, such as Trumpy having the odd brain fart. I've always adopted the longer-term view.

The key folks, is this. Compounding interest.

Understand this, and you are on the road to retirement.


It’s a good topic, and an opportunity/dilemma that all of us will need to face at some point.

There are many possible paths, the thing that shits me are the rules the Govt imposes on super. Once you reach preservation age, then should be able to do whatever you want, instead of the ridiculous fully vs partially retire crap whereby in the first scenario you can do whatever you want but the 2nd one imposes rules and yearly min/max you can take out and forcing you to go on a Transition to Retirement plan.

WTF, it’s my investment, let me do whatever I want at preservation age FFS.

Note that these rules don’t apply to politicians, who can gleefully enjoy a yearly super payment whilst having little or no working restrictions.
Dunno, I’m just an idiot.

I’m only the administrator of the estate of dedja
User avatar
dedja
Coach
 
 
Posts: 24312
Joined: Fri Jun 22, 2007 11:10 pm
Has liked: 772 times
Been liked: 1697 times

Re: Retirement Planning

Postby Booney » Wed Jul 23, 2025 3:22 pm

Might borrow that book when you're done, if I could?
If you want to go quickly, go alone.

If you want to go far, go together.
User avatar
Booney
Coach
 
 
Posts: 61631
Joined: Thu Oct 27, 2005 1:47 pm
Location: Alberton proud
Has liked: 8201 times
Been liked: 11934 times

Re: Retirement Planning

Postby Corona Man » Wed Jul 23, 2025 3:25 pm

Booney wrote:Might borrow that book when you're done, if I could?

At about $35 a copy, I think the author is the one having the epic retirement!
1961, 1971, 1976, 1978, 1983, 1986, 1988, 1989, 1991, 2008, 2013, 2014, 2015.... And don't you forget it!
User avatar
Corona Man
Coach
 
 
Posts: 13063
Joined: Thu Oct 02, 2014 2:28 pm
Location: Near the Beer Fridge
Has liked: 1334 times
Been liked: 3705 times
Grassroots Team: Echunga

Re: Retirement Planning

Postby Lightning McQueen » Wed Jul 23, 2025 3:38 pm

wenchbarwer wrote:
Well, now I feel bad about making a death before retirement joke...


No need for that mate, laughter eases all pain.
HOGG SHIELD DIVISION V WINNER 2018.
User avatar
Lightning McQueen
Coach
 
Posts: 53586
Joined: Mon Mar 03, 2008 9:43 am
Location: Radiator Springs
Has liked: 4610 times
Been liked: 8559 times

Re: Retirement Planning

Postby Pseudo » Wed Jul 23, 2025 4:19 pm

Booney wrote:Might borrow that book when you're done, if I could?

Borrow... with compounding interest?
Clowns OUT. Smears OUT. RESIST THE OCCUPATION.
User avatar
Pseudo
Coach
 
 
Posts: 12241
Joined: Fri Oct 28, 2005 11:11 am
Location: enculez-vous
Has liked: 0 time
Been liked: 1651 times
Grassroots Team: Marion

Re: Retirement Planning

Postby Jimmy_041 » Wed Jul 23, 2025 4:24 pm

Booney wrote:Might borrow that book when you're done, if I could?


Paywall...........
dedja: Dunno, I’m just an idiot.
User avatar
Jimmy_041
Coach
 
 
Posts: 15101
Joined: Sun Nov 09, 2008 5:30 pm
Has liked: 832 times
Been liked: 1282 times
Grassroots Team: Prince Alfred OC

Re: Retirement Planning

Postby locky801 » Wed Jul 23, 2025 8:06 pm

I'm not retiring tried it once before and it was boring
Life is about moments, Create them
User avatar
locky801
Coach
 
Posts: 59073
Joined: Tue Aug 15, 2006 5:11 pm
Location: working all around Australia and loving it
Has liked: 4486 times
Been liked: 1450 times

Re: Retirement Planning

Postby DOC » Thu Jul 24, 2025 9:09 am

Go to any cemetery and see how many headstones are engraved with “Missed by their fellow workers”?
User avatar
DOC
Coach
 
 
Posts: 19301
Joined: Wed May 16, 2007 7:15 pm
Has liked: 865 times
Been liked: 2349 times

Re: Retirement Planning

Postby dedja » Thu Jul 24, 2025 4:18 pm

locky801 wrote:I'm not retiring tried it once before and it was boring


Aren't you doing it again later this year?
Dunno, I’m just an idiot.

I’m only the administrator of the estate of dedja
User avatar
dedja
Coach
 
 
Posts: 24312
Joined: Fri Jun 22, 2007 11:10 pm
Has liked: 772 times
Been liked: 1697 times

Re: Retirement Planning

Postby mighty_tiger_79 » Fri Jul 25, 2025 9:58 am

Corona Man wrote:
Booney wrote:Might borrow that book when you're done, if I could?

At about $35 a copy, I think the author is the one having the epic retirement!

Ive found it on spotify.
Matty Wade is a star and deserves more respect from the forum family!
User avatar
mighty_tiger_79
Coach
 
Posts: 60948
Joined: Tue Jan 03, 2006 7:29 pm
Location: at the TAB
Has liked: 13435 times
Been liked: 4642 times

Re: Retirement Planning

Postby Dutchy » Fri Jul 25, 2025 2:01 pm

Im counting down the days...
User avatar
Dutchy
Site Admin
 
 
Posts: 46237
Joined: Sat Nov 05, 2005 8:24 am
Location: Location, Location
Has liked: 2644 times
Been liked: 4305 times

Re: Retirement Planning

Postby Lightning McQueen » Fri Jul 25, 2025 2:13 pm

Dutchy wrote:Im counting down the days...

To retirement?
HOGG SHIELD DIVISION V WINNER 2018.
User avatar
Lightning McQueen
Coach
 
Posts: 53586
Joined: Mon Mar 03, 2008 9:43 am
Location: Radiator Springs
Has liked: 4610 times
Been liked: 8559 times

Re: Retirement Planning

Postby Dutchy » Fri Jul 25, 2025 4:23 pm

Lightning McQueen wrote:
Dutchy wrote:Im counting down the days...

To retirement?


Its a lot of days at the moment :(
User avatar
Dutchy
Site Admin
 
 
Posts: 46237
Joined: Sat Nov 05, 2005 8:24 am
Location: Location, Location
Has liked: 2644 times
Been liked: 4305 times

Next

Board index   General Talk  General Discussion

Who is online

Users browsing this forum: No registered users and 19 guests

Around the place

Competitions   SANFL Official Site | Country Footy SA | Southern Football League | VFL Footy
Club Forums   Snouts Louts | The Roost | Redlegs Forum |