My newest gf sent this link to me. Her bff since childhood and my soror is on the panel, so needless to say she is proud. I am too, the sister did a great job on the panel.
I believe the content of the link is important.
End of Corporate Health Care
I’ve been doing calculations on the effects tax and inflation will have on our retirement dollars. I’m trying to figure out strategies to reduce the future tax. We have plans to keep our dollars at pace with inflation and that is a living and constant strategy. I saw somewhere that in 30 years $1 million will be nearly equivalent to $83k today. Living in CA. its been years-probably 1999- since I thought 1 million was much. In 2007 it isn’t an amount that would find me relaxing and getting comfortable, and in 2037 I know it will mean much much less.
Health care costs can be rough on retirement funds, especially since those costs are paid with current day dollars using inflation devalued retirement funds and minus taxes due (hopefully those health costs will be tax deductible). There is so much to consider. Getting comfortable is not an option.
Neither of us plan to fully retire. We’re building a business (a strategy to keep pace with inflation) which we desire will live on even when we are gone to heaven or only working in 2 days a month. Although we don’t plan to retire we want to be able to. Hmmmmm, I guess if we build our business well we could stay on the company health plan? I hadn’t thought about that. This is why it’s good to write things out.
Good to plan for the future. I have given the future only as much thought as putting money into the 401K. Everything else, hasn’t crossed my mind. I just keep thinking that I have 36 yrs to go to retire.. That’s a logn time.
Comment by Serenity23 — October 3, 2007 @ 11:51 am
I’ll check the video out tonight when I’m in the comfort of my own home and I can really take a minute to ponder. Planning for retirement is a must seeing as how this country’s resources are being squandered away by the second.
Comment by Sugar — October 3, 2007 @ 12:31 pm
Serenity, we are just now starting to purposely plan for retirement. We’ve both been doing the IRA and 401k stuff, but I am just now beginning to think about the stuff beyond that. I’ve always figured I’d make enough during my life not to worry about it (I still believe that) and that my retirement would be to a another interest. I get bored when there are big gaps in my work life.
Comment by call2arms — October 3, 2007 @ 3:12 pm