Hypothetical Situation

[one-tai]

@ Hmgrock, during the late 2000's I was unemployed because of the recession. I was so bored I thought about killing myself because I wasn't productive. I've been working since and have found my immediate purpose even if it's something small or reoccurring. I've been working since I was 14 and can't imagine not working unless immobile. If I were you, I'd apply for a commercial fishing license and see if you can sell what you catch. There are only so many fish that you can fit into your ice chest. 

[Kong Vang]

$1 million  <<<< if you want to live good
$500k       <<<<< going be pushing it, but doable

cash or cash equivalents

I think 1 million would be a good starting point, especially if your house is paid for.

[hmgROCK]

Understandable, I agree, everyone has a different view. My view is I want to be in a situation where I don’t need a job. I want to choose the work I enjoy, even if it’s free. That’s retirement to me. Although zipping a margarita on the beach next to a beautiful woman does sound pretty good right about now.

don't forget healthcare coverage, bro
if you retired now, you won't qualified for medicare/medicaid
since you no longer working, and your employer not helping you pay
you looking at $500-$2000 per month coverage, depending on plan and etc....

 

[one-tai]

Agreed...and for the record, 120k is awesome. I think continuous income is key.


What’s your magic number, before saying goodbye to the 9 to 5 job.

The thing is, I'm not trying to hit an arbitrary number. Personally, if I were to "retire" right now, I would become a commercial shore fisherman. Fish a couple of hours and sell my catch to a store of some sort. I would also mow lawns because I love seeing the immediate results.

[one-tai]

don't forget healthcare coverage, bro
if you retired now, you won't qualified for medicare/medicaid
since you no longer working, and your employer not helping you pay
you looking at $500-$2000 per month coverage, depending on plan and etc....

 

That's definitely something to consider. Obamacare?

[hmgROCK]

@ Hmgrock, during the late 2000's I was unemployed because of the recession. I was so bored I thought about killing myself because I wasn't productive. I've been working since and have found my immediate purpose even if it's something small or reoccurring. I've been working since I was 14 and can't imagine not working unless immobile. If I were you, I'd apply for a commercial fishing license and see if you can sell what you catch. There are only so many fish that you can fit into your ice chest. 

lol

dude that's what im feeling RIGHT NOW
bored out of my mind

i just trade stock and PH for fun
to keep my mind busy

hahahahah
 

OPTION PUT ON $ZM 
AT LEAST 6 MONTHS OUT IF YOU WANNA PLAY
 

[Kong Vang]

@ Hmgrock, during the late 2000's I was unemployed because of the recession. I was so bored I thought about killing myself because I wasn't productive. I've been working since and have found my immediate purpose even if it's something small or reoccurring. I've been working since I was 14 and can't imagine not working unless immobile. If I were you, I'd apply for a commercial fishing license and see if you can sell what you catch. There are only so many fish that you can fit into your ice chest. 

Both of you, if it’s not too personal, what industry are you working in?

[hmgROCK]

Both of you, if it’s not too personal, what industry are you working in?

used to do financial stuff
too stressful and cutthroat for me
depressing and backstabbing as shyt
so i don't work in that field no more


these days, im just chilling and working in manufacturing 
my job is furlough so im just chilling and collecting unemployment till further notice 

[one-tai]

Both of you, if it’s not too personal, what industry are you working in?

What haven't I done?  Private, non-profit, now public.

[one-tai]

I should add that I don't make 6 figures but have a pension. I'm counting down the days till I can receive 50 percent of the average of my highest 4 salaries, until my expiration. 

[Kong Vang]

What haven't I done?  Private, non-profit, now public.

Current field??

[one-tai]

Current field??

Public sector. That's as much as I'm willing to disclose.

[Kong Vang]

I should add that I don't make 6 figures but have a pension. I'm counting down the days till I can receive 50 percent of the average of my highest 4 salaries, until my expiration. 

Outside of CA, most people can live comfortably and not make 6 figures. Pension is great and does your employer also have a 401k plan?

[one-tai]

Outside of CA, most people can live comfortably and not make 6 figures. Pension is great and does your employer also have a 401k plan?

Yes, I'm contributing somewhere in the neighborhood of 10 percent towards my 401k that isn't matched because my employer is matching my mandatory 8.5 percent pension. I've been at it for over a decade. I just need 12 more years to receive 50 percent of the average of my 4 highest salaries. I live a pretty resourceful lifestyle which, in theory, will allow me to fish or mow lawns for the remainder of my days.

[Kong Vang]

Yes, I'm contributing somewhere in the neighborhood of 10 percent towards my 401k that isn't matched because my employer is matching my mandatory 8.5 percent pension. I've been at it for over a decade. I just need 12 more years to receive 50 percent of the average of my 4 highest salaries. I live a pretty resourceful lifestyle which, in theory, will allow me to fish or mow lawns for the remainder of my days.

Good for you, good to see Our Hmong American brothers  on the path to savings. I only wish there were more like us.