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401k, roth, TSP (.gov) and other retirement non tangibles

Discussion in 'Financial Cents' started by oil pan 4, Jan 2, 2018.


  1. BenP

    BenP Monkey+ Site Supporter+

    I pulled my 401k and invested it in long term storage food, specifically beef, and a place to put it. Turns out that beef will last 20 years and multiplies similarly to compounding interest.
     
    Gator 45/70 and 3cyl like this.
  2. oil pan 4

    oil pan 4 Monkey+++

    I have enough land to raise at least several cattle but I don't know anything about them.

    If I was going to buy cattle I would probably wait till weaned calf prices are way down like earlier this year and buy some.

    I identified live stock, especially cattle as one of the "goods" you could buy and invest in or hord that you can spend and trade with later on almost as good as if it were cash.
     
    Last edited: Jun 20, 2018
    Gator 45/70 and BenP like this.
  3. BenP

    BenP Monkey+ Site Supporter+

    I am in IT by trade and this is my second attempt at raising cattle; it has been a learning experience. The first time I bought a few cattle but did not have a good way to feed them through the winter and ended up buying a lot of hay and feed. I eventually sold them and decided next time I would buy the hay equipment first then buy the cows. This time I bought the (old used) equipment first and made sure I could produce more hay than they needed. The other big mistake I made was feeding them feed instead of hay. Feed is expensive and they do great on just grass/hay and a good mineral feeder, some of them are so fat they can hardly walk. Chickens on the other hand I feed corn. A 50 pound bag of cracked corn will feed a dozen chickens for a long time especially if they are free range. During the summer the chickens will lay enough eggs to pay for a bag of corn in 2-3 days.
     
    Gator 45/70 and pmbug like this.
  4. oil pan 4

    oil pan 4 Monkey+++

    I'm going all roth.
    I was going 50/50, half going to the roth and half going to the 401k.
    Not any more.
     
    Gator 45/70 likes this.
  5. oil pan 4

    oil pan 4 Monkey+++

    I was wasting time at work watching my money do nothing, locked away in the bonds funds so I decided to start the Roth withdraw process and see how far I could get with out actually having to lock in a withdrawal.
    It was to be expected, got all my info updated but I didn't know I could only take out the portion I had saved, about half.
    With the dot gov TSP I had the full amount available since there were 0 employer contributions.
    Just something to consider.
     
    Gator 45/70 likes this.
  6. Idahoser

    Idahoser Monkey+++ Founding Member

    i have decided that it's none of the government's business whether or when I retire. Any tax benefit I might get from jumping through the loopholes is overwhelmed by the fact that they get to tell me what I can do with my own money.

    Besides, I don't see how you can expect to lose Socialism Security but still think they're going to let you keep your retirement accounts.

    I put in the minimum amount to get the full match, but that's just to make them happy, it's not serious money.

    Bottom line is there has never been the possibility that all those Boomers were ever going to be allowed to retire like they were promised. It hasn't played out in it's entirety yet but the money they think they will have has already been stolen, they just don't know it yet. They still think they have socialism security "accounts".
     
    Motomom34, oldman11 and Gator 45/70 like this.
  7. hot diggity

    hot diggity Monkey+++ Site Supporter+++

    I got to practice my retirement/SHTF plan for eight weeks this past fall. Other than the weather and the storm damage it wasn't at all unpleasant, and is already sustainable. I've diversified, established multiple income streams (some are trickles) and reinvest much of my current income. I followed some very bad choices with some very good ones in my youth, and that allowed me to retire the first time at 38. "Prepping" has pointed me toward investments in stuff I can touch and stand on that will always have value.

    Life is good.
     
    Motomom34, oldawg, oldman11 and 2 others like this.
  8. DKR

    DKR Interesting ideas, interesting stories

    I maxed out my 401K - it is now 48% of my taxable income. This is offset my SS payments.
    I sucked it up for 23 years in the USAF, so have a pension coming in as well.

    Instead of worrying about saving a lot in years past, I busted hump to be debt free.... My biggest expense today is paying the Gov their cut of Vig....
     
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