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Conversationalist

Re: What Would You Have Done Differently?

3,736 Views
Message 41 of 70

     What I would have done differently? My whole life, I have had a weakness for cars. For a good share of my working life, I could afford to buy 1 or 2 new cars every year. Espicially when my wife was, aat times, making more then me. I have owned over 100 cars since 1967.

      Now, I am pretty much broke and don't have the car I would really like to have, much less all the money I have spent. I should have kept with one car alot longer and liked it. i might have some money now thatI am retired.

      The second think I really messed up on was letting myself get talked out of my IRA that paid a monthly benefit and just took the cash. That is now about gone.

      So, yes, I really messed up and wish I could do it over again.

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Info Seeker

Re: What Would You Have Done Differently?

3,754 Views
Message 42 of 70
I would have worked less and spent more time with friends and family...& checked more things off the bucket list...things that I am not physically able to do now.
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Conversationalist

Re: What Would You Have Done Differently?

3,751 Views
Message 43 of 70

I'm happy with 99 percent of the decisions I made early in life to help assure a good retirement and  just prior to and at the beginning of retirement. I don't regret the following few "missteps." None of them have seriously impacted us, but given the chance for a do-over I would correct these "should have"s:

1. Should have waited till 70 to take Social Security instead of taking it at full retirement age of 66. I'd be looking at a 32 percent boost very shortly.

2. Should have bought more coverage when I got long-term care insurance three years ago. Now, it would be prohibitively expensive.

3. Should have taken advantage of one of several stock market meltdowns to convert all or part of my IRA to a Roth.

4. Should have sacrificed a few more dollars from my pension to provide a 100 percent survivor benefit for my wife instead of the required minimum of 50 percent.

5. Should have hung in for two more years at work to qualify for retiree health benefits. I'm old enough for Medicare and our supplemental policy is reasonable cost. It's the low-cost dental, vision and drug coverage that I miss.

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Info Seeker

Re: What Would You Have Done Differently?

3,759 Views
Message 44 of 70

I would have saved the money I made, for six years working as a contractor, after I retired from my govvernment job.  But, in order to do that and live off my annuity, I would have to have no children that needed my financial help.  I would loved to have invested in Certificate of Deposits that I continued to earn interest on once they matured.  Oh well.

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Social Butterfly

Re: What Would You Have Done Differently?

3,778 Views
Message 45 of 70

I probably would have taken a civil service job with a greater opportunity for benefits and pension.

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Info Seeker

Re: What Would You Have Done Differently?

3,835 Views
Message 46 of 70

I would have built myself a career-one that I could add layers of learning year after year. becoming empowered by the knowing I could take care of myself regardless of my marital statis.  I became dependent on my husband to support me--something i deeply regret.  Somehow I lost my self suffiency mode and switched over to the good, little housewife.  I took steps backward instead of going forward with my life.  He never insisited I take on this role--I just did.  Somehow I told myself it was expected!!!!!  Mom said "you follow your husband and support him" so I did.

 

So now at 65, I meditate on not sitting in self pity and do the postitive things I am able to do-but, boy oh boy, if only....................

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Conversationalist

Re: What Would You Have Done Differently?

3,881 Views
Message 47 of 70

I took early retirement from my job to handle some domestic issues and then worked part time for the same employer- unfortunately it did not count or add to my retirement. I'm not sure that I could have done anything different, but if I had been able to work a couple more years it would have made a tremendous difference in my monthly check. The other area that bears looking at is the fact that we have taken in many troubled friends and family members and the cost of providing for those people came out of our monthly living expenses-that money could have gone into a 401K, but I don't know if we would have slept well at night knowing that we failed to help someone who needed us. I guess the bottom line is that we made our bed and I guess we are reasonably happy with it.

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Info Seeker

Re: What Would You Have Done Differently?

3,945 Views
Message 48 of 70

I would have worked full time until I was at least 70 years of age and then continued on a reduced schedule until 75 years of age. 65 is too young to retire unless you have a business of your own that you can be involved in or you have a large investment portfolio in excess of $1M (if you are single)  so you can travel and be involved with things without the concern of outliving your investments.

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Super Social Butterfly

Re: What Would You Have Done Differently?

3,955 Views
Message 49 of 70

No I would not have done anything differently.  I am happily retired and secure.

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Conversationalist

Re: What Would You Have Done Differently?

4,179 Views
Message 50 of 70

I did use my 401K to save our home and after two years still lost it.  We got laid off at 62 and no one wanted to hire us anymore so we took earlier retirement from the USA and Florida, which has worked out fine.

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