How the hell are we supposed to retire?

roc

Well-Known Member
Inflation is temporary.... temporary and whacky prices from supply issues are causing this. Once prices come down so will inflation.
I hope your right, although I‘m not sure. The shipping lines are getting whatever they ask for, and really, nobody can do anything about it. In February 2021, a shipping container coming from Switzerland to Boonton, NJ was $4500.00. That same container is now $11,000.00. That’s a big difference.
 

Patrick

Overthinking the draft from the basement already
Staff member
I hope your right, although I‘m not sure. The shipping lines are getting whatever they ask for, and really, nobody can do anything about it. In February 2021, a shipping container coming from Switzerland to Boonton, NJ was $4500.00. That same container is now $11,000.00. That’s a big difference.

What was the wholesale value of the contents of the container?

As soon as there is slack in the system again, prices will come down.
 
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rick81721

Lothar
Inflation is temporary.... temporary and whacky prices from supply issues are causing this. Once prices come down so will inflation.

It's always "temporary", like peaks and valleys in the stock market. The question is how temporary? Last April they said 3 months.
 

roc

Well-Known Member
What was the wholesale value of the contents of the container?
That varies depending on the size of the drums in the container, but usually some where between 22 and 28k.
As soon as there is slack in the system again, prices will come down.
I hope your right, but now that the freight carriers are getting those prices, why would they stop the price gouging? We just got an $1800 demurrage fee for a container they say they couldn’t deliver between Christmas and New Years. We were open, they weren’t, they charged us and we really have no recourse. Weird scenario.
 

rottin'

Well-Known Member
Staff member
Team MTBNJ Halter's
That varies depending on the size of the drums in the container, but usually some where between 22 and 28k.

I hope your right, but now that the freight carriers are getting those prices, why would they stop the price gouging? We just got an $1800 demurrage fee for a container they say they couldn’t deliver between Christmas and New Years. We were open, they weren’t, they charged us and we really have no recourse. Weird scenario.
Learned a new word today 😃
 

Patrick

Overthinking the draft from the basement already
Staff member
That varies depending on the size of the drums in the container, but usually some where between 22 and 28k.

I hope your right, but now that the freight carriers are getting those prices, why would they stop the price gouging? We just got an $1800 demurrage fee for a container they say they couldn’t deliver between Christmas and New Years. We were open, they weren’t, they charged us and we really have no recourse. Weird scenario.

They bid to carry the container. Once things normalize, the bids will come down. Can't go out without a full ship.

$25k isn't much in a container. Really big impact to the customer.
 

roc

Well-Known Member
They bid to carry the container. Once things normalize, the bids will come down. Can't go out without a full ship.

$25k isn't much in a container. Really big impact to the customer.
yup, but we have been eating a lot of the cost also. But I really can’t complain, business is up.
 

Patrick

Overthinking the draft from the basement already
Staff member
yup, but we have been eating a lot of the cost also. But I really can’t complain, business is up.

Everyone is expecting costs to rise right now. An increment is warranted. Can always back off in the future for your bigger customers.
 

roc

Well-Known Member
Everyone is expecting costs to rise right now. An increment is warranted. Can always back off in the future for your bigger customers.
Agreed, at this point, nobody complains when they send a PO, and I have to tell them their was a price increase. I've gotten shit from purchasers about a 3% yearly increase in the past!
 

tonyride

Don't piss off the red guy
I'm retiring is 5 years, ready or not. Well, I guess it depends on one's definition of ready. Assuming SS will still be around in 5 years then what I get from there plus my pension is really all we need to live on without touching my 401K since my wife will still be working for at least another 10 years before she retires. Yes, there are many arguments for and against start taking SS at 62 but with my situation and the way I see it is every dollar I get from SS is a dollar I can keep in my 401 to keep working for me. History has pretty much proven that the market will grow my 401 much more than my SS if I were to wait until I'm 65 or 67 to collect. Also, when I kick the bucket my SS benefits end. By preserving my 401 at least that can be inherited by my son. There are so many strategies to tackle your investments using complex formulas, historical data, and predictions of the market based on international and domestic economic and political situations that it just creates unnecessary and unhealthy stress. I don't think it is worth sacrificing my mental health to try to squeeze out every dollar possible out of the market. Part of being retired to me is to have as little stress as possible and enjoy whatever activities you want to do so I think I'm just going to stay the course and let whatever happens happen. Of course in order to get to that point you have to do a lot of planning and be conservative and realistic about your assumptions and estimates. The 2 biggest expense I think I'll need to address before retiring are mortgage and healthcare. By the time I retire I should have my mortgage paid off and my job provides the same level of health insurance for me and my family so I got those covered. I don't have car payments and my credit cards are in order and I expect that to remain the same into retirement. I think even if I do have to replace one of my cars before retirement I can swing it without incurring too much debt, even at today's car prices. Oh, I (we) are also planning to move out of NJ and into a tax friendlier state when I retire, most likely Florida (yeah, we know all about Florida. We go there about 3 or 4 times a year so we know what summers and winters are like there). Also Murphy has told me that the mighty kingdom of NJ isn't for me because I think taxes are a thing (sorry for getting political but it is a major factor in our decision to move). So how are we supposed to retire? Plan, manage your expectations, be honest (mostly with yourself), be thorough, and be flexible. I'm not sure how helpfut all this is. Maybe it's just a note to my current and future self to not stress too much about the little things as long as you have the basics and fundamentals down. Now, if I can just manage my biking related spending.
 
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