LEOs: How did you get into law enforcement?

[bing_oh]

OHHHHHHHHH

And the croud goes wild as the champion levels his oppenent with a right cross, knocking him to the ground!

THIS...ONE...IS...OVER!

Thanks, Tony. I actually chuckled at that.

[Rupert]

Yeah, no. There are probably plenty of beer pong super super seniors, but there are a lot of people who just don't know what they want to do, and pretty much no amount of thinking about it is going to help. However, that does not mean that they can't and don't think about the future.

Becoming an adult, hey? Becoming an adult means an increase in responsibility, an increase in maturity (in the way a person deals with that responsibility), and an increase in hangover intensity. Trust me, I know all about those things. There are plenty of old people with careers and all that who live for the next beer and the next meaningless fuck, and there are plenty of immature young-uns who don't. Adultism is about responsibility and maturity, not about a career and, what? kids?

Keep in mind that I've already said a few times that I think it's a good idea to think about the future and plan for it. Invest a bunch of money in an IRA, mutual funds, a house, what-have-you. Figure out what you might want to do for a career someday. Don't limit your options, and save some money. After all, you can have a job that pays well without having a career.

[hounddog]

One should at least experience some kind of fulfillment in one's career, even if it's not fun per se.

Well, you have much to learn, I think.

But, there is nothing at all wrong with being idealistic. 

And this was NOT meant as an insult.  I remember those kinds of feelings, they just do not hang around long after you graduate. 
 

[Rupert]

I know plenty of old people (over 45 ) who have led fulfilling careers.

[dazzleman]

I know plenty of old people (over 45 ) who have led fulfilling careers.

Notice your use of a form of the past tense.

By that age, most people are sick of working.  That's why planning for retirement is important.  What's fulfilling at 25 or 30 may not be at 55 or 60.  I think the mistake many younger people make is to not recognize that the way they'll want to spend their time will change as they get older, and they fail to take the steps that will allow them to accomodate their preferences as they age.  Most people can't keep up the same pace at 60 that they did at 25, and few would want to in any case.

[the nameless one]

Notice your use of a form of the past tense.

By that age, most people are sick of working. 

At 45, you are at least 20 years away from the end of your working career. I don't understand people who think they can retire at 45 or 50 and just lounge around for the last half of their lives doing nothing.

[dazzleman]

At 45, you are at least 20 years away from the end of your working career. I don't understand people who think they can retire at 45 or 50 and just lounge around for the last half of their lives doing nothing.

I don't think that's really what most people want to do.

I think most people don't want to have to work as hard in the latter part of their career.  Many people have to really put in a huge amount of work to get themselves established and make good money when they're younger, and as they get older, they can't keep up that pace.  Having a good retirement plan doesn't mean you stop working completely; it more means you don't have to go balls to the wall until you're 70.

[bing_oh]

At 45, you are at least 20 years away from the end of your working career. I don't understand people who think they can retire at 45 or 50 and just lounge around for the last half of their lives doing nothing.

Hey, the minimum retirement age of 48 for LE in Ohio is one of the few benefits we have left. Most LE end up working a few years beyond the minimum, putting their time in DROP and essentially double-dipping for an extra wad of cash to play with after retirement, and then take a much slower-paced (and less stressful) post-retirement job. I have no intention of "just lounging around for the last half of my life doing nothing," considering that kind of attitude probably contributes heavily to the statistic that many LEO's die within 5 years of retirement.

[the nameless one]

Yeah, you can retire from that job at 20 or whatever...but as I said, I don't understand people who expect that they'll just sit around. I have no expectation of EVER totally retiring. I may be required to retire from THIS job at a certain age, but I'll always be working in some way, making money to keep my head above water. The concept of being retired at 65 was a 20th century concept created in an era of unprecedented national propsperity that has now disappeared.

[dazzleman]

Yeah, you can retire from that job at 20 or whatever...but as I said, I don't understand people who expect that they'll just sit around. I have no expectation of EVER totally retiring. I may be required to retire from THIS job at a certain age, but I'll always be working in some way, making money to keep my head above water. The concept of being retired at 65 was a 20th century concept created in an era of unprecedented national propsperity that has now disappeared.

I think that how a person handles retirement has a lot to do with personality.  Some people couldn't stand being fully retired, while others revel in it.  I think most people need something to keep them busy to some degree, but it doesn't necessarily have to be a job.  I agree that doing absolutely nothing is not healthy at all.

But as far as the financial aspects of retirement are concerned, people are pretty much responsible for that on their own.  Social security is not enough to live on, unless you plan to eat pet food, and defined benefit pensions are being replaced with defined contribution savings plan.  So in their older years, people will either reap the benefit or the whirlwind from the amounts they saved (or failed to save) when they were younger.

I think many people that plan to retire relatively young but aren't saving and are maintaining large amounts of debt are going to be in for a rude awakening, and will have to work longer than they like.  The latest thing is that people think their houses are going to fund their retirement; that was never a very good or realistic concept.  And the older ideas about retiring debt before hitting certain ages seem to be falling by the wayside, as people borrow as if there were no tomorrow.  How some of these people ever expect to retire, with no savings and home equity loans out the wazoo, is beyond me.  Many people are just financially unsophistocated and give it no thought.

It's true that traditionally, people worked until very late in life, and usually retired on average only a few years before they passed away.  The concept of a long retirement period is a new one.  If people save and accumulate enough money to live well in their final years without working, I have no problem with it.

You also have to consider health.  Good health in later years (or really any time in life) can't be taken for granted.  Not everbody is able to work right to the end.

[J86]

Apologies for the mild hijack, but it seems appropriate here: if you old(er!) guys were 20 and had 2 grand to play with, what would you do with it besides have it in a CD?  I don't exactly have my parents to fall back on for what I call innovative and impressive financial advice...

[dazzleman]

Apologies for the mild hijack, but it seems appropriate here: if you old(er!) guys were 20 and had 2 grand to play with, what would you do with it besides have it in a CD?  I don't exactly have my parents to fall back on for what I call innovative and impressive financial advice...

Josh, others may disagree, but I suggest you keep it in a CD.  It's not enough money to meaningfully create a balanced portfolio, and I don't think you have enough to risk the principal.  You always have to have a certain percentage and/or amount of money in cash, so I don't think you have enough to start investing.

[the nameless one]

I agree, keep it in the CD.

[Raza]

So you're 23? 24? And you're looking for a lifetime career? I assume you've considered that you're still young and don't need to plan your life until you retire just yet...

At any rate, I certainly don't want a career until I'm 30 or older.

I want to retire around then.

[J86]

Josh, others may disagree, but I suggest you keep it in a CD.  It's not enough money to meaningfully create a balanced portfolio, and I don't think you have enough to risk the principal.  You always have to have a certain percentage and/or amount of money in cash, so I don't think you have enough to start investing.

I was actually talking to some people today, and I think I'm gonna keep it there and potentially use it for LSAT tutor...we'll see.

[hounddog]

Josh, others may disagree, but I suggest you keep it in a CD.  It's not enough money to meaningfully create a balanced portfolio, and I don't think you have enough to risk the principal.  You always have to have a certain percentage and/or amount of money in cash, so I don't think you have enough to start investing.

But it would do alot better in a Roth IRA account.  It could be worth as much as $450,000 in 50 years.  Aweful hard to beat those kinds of gains.

[dazzleman]

But it would do alot better in a Roth IRA account.  It could be worth as much as $450,000 in 50 years.  Aweful hard to beat those kinds of gains.

Maybe, but Josh is 20.  This is a tiny amount of money, and he has a lot of needs more immediate than retirement.  If he takes the money out of an IRA, he will likely face penalties.  I wouldn't recommend that a 20-year-old put the only money he has into a retirement account.  I think that's insane.

[TBR]

You'd probably be better off putting it in a money market (a CD with a decent rate will have a min much higher than $2 grand). Most likely you would get similar results from a money market without being locked in.

[hounddog]

Maybe, but Josh is 20.  This is a tiny amount of money, and he has a lot of needs more immediate than retirement.  If he takes the money out of an IRA, he will likely face penalties.  I wouldn't recommend that a 20-year-old put the only money he has into a retirement account.  I think that's insane.

Thats pretty short sighted, but thats just my opinion. 
First off, its ONLY a couple grand.  While I realize that may be his only cushion right now, IT IS NEVER TOO EARLY TO PLAN FOR RETIREMENT.

Why is it so hard for you guys to understand that?  If I took that approach, I would be on medical disability drawing only pennies on the dollar.  ($758/mo. to be exact)

Money Market?  Seriously?  MMA's are about 4-4.75% average right now.  Savings are about the same.  He might just as well leave it in savings.

[Raghavan]

Thats pretty short sighted. 
First off, its ONLY a couple grand.  While I realize that may be his only cushion right now, IT IS NEVER TOO EARLY TO PLAN FOR RETIREMENT.

Why is it so hard for you guys to understand that?  If I took that approach, I would be on medical disability drawing only pennies on the dollar.  ($758/mo. to be exact)

Money Market?  Seriously?  MMA's are about 4-4.75% average right now.  Savings are about the same.  He might just as well leave it in savings.

What's the point of saving for later if you can't live now?

[hounddog]

Hey, the minimum retirement age of 48 for LE in Ohio is one of the few benefits we have left. Most LE end up working a few years beyond the minimum, putting their time in DROP and essentially double-dipping for an extra wad of cash to play with after retirement, and then take a much slower-paced (and less stressful) post-retirement job. I have no intention of "just lounging around for the last half of my life doing nothing," considering that kind of attitude probably contributes heavily to the statistic that many LEO's die within 5 years of retirement.

Agreed.  I had planned on working with my wife in our own consulting/engineering firm, until I got sick.   When I get stronger that may still be an option.

[hounddog]

What's the point of saving for later if you can't live now?

He has a job, does he not? 
Its no wonder so many in this country will live in poverty after the age of about 65.  

Living today should not mean spending every penny you have for fun.  Its called "Responsible spending behavior, " and it is taught in basic economics.

[Raghavan]

He has a job, does he not? 
Its no wonder so many in this country will live in poverty after the age of about 65.  

He's in college and has more important expenses than saving for retirement.

[hounddog]

He's in college and has more important expenses than saving for retirement.

Well, since HE is the one asking about what to do with money, and saying he IS concerned with retirement I guess that makes your arguement null and void. 

[hounddog]

Apologies for the mild hijack, but it seems appropriate here: if you old(er!) guys were 20 and had 2 grand to play with, what would you do with it besides have it in a CD?  I don't exactly have my parents to fall back on for what I call innovative and impressive financial advice...

[Raghavan]

Well, since HE is the one asking about what to do with money, and saying he IS concerned with retirement I guess that makes your arguement null and void. 

When did he say that?

[hounddog]

When did he say that?

Right above this original post I quoted it.

[Raghavan]

Right above this original post I quoted it.

Where?
he didn't mention anything about retirement.

[hounddog]

Where?
he didn't mention anything about retirement.

Fine, I thought the poster was R, no the boat boy.  Either way, the advice I gave is sound.

Oh, and since I am in a grouchy mood anyway~
Go fuck yourself Raghaven. 

Notice the lack of smily faces.

[Raghavan]

Fine, I thought the poster was R, no the boat boy.  Either way, the advice I gave is sound.

Oh, and since I am in a grouchy mood anyway~
Go fuck yourself Raghaven. 

Notice the lack of smily faces.

You're just mad that I just owned you, old man.

And I like how you can't spell my name right even though it's plainly written out 4 times in this page alone (not including this post).