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32 years old and don't wanna eat cat food when I'm 70!
Old 09-19-2012, 09:15 PM   #1
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32 years old and don't wanna eat cat food when I'm 70!

Hi all!

I found this web site while looking for information about buying service credit in my defined benefit pension vs keeping the money in my deferred comp plan and rolling the dice on a higher return, so to speak. I'm lucky that I started working for the .gov when I was 27 so even if I work all the way through to 30 years I can still retire at 57. If I buy the 5 years of credit at $7k per year I can retire at 52 and still get a full pension.

I've gotten on the early retirement kick after seeing my mom go through the disability process. She was a teacher since before I was born and now due to a bunch of diabetic complications, joint problems, heart problems etc she's retired. Over the past year she's had a lot of dr visits so I've had a chance to see what happens when people plan to "retire" on social security and rely on medicare for health care. I don't ever want to be in the position these people are in and I feel terrible. Some put themselves in that position because they were spendthrifts, some fell on hard times due to medical problems, early disability, no family support, etc.

I want to be free to live life on my own schedule. If I want to stay home on a Tuesday just because, I want to be able to do it. I don't want to answer to someone else's arbitrary deadlines and I want the freedom to travel, see the world and just live life. I want to be able to watch my kids (if I ever have any) grow up, not be the dad who can't ever make it to the big moments in their lives.

I'm in a pretty decent position right now as far as investments and retirement plans go. I hope to learn a few more things on this forum to help me manage my retirement goals more efficiently.
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Old 09-19-2012, 09:41 PM   #2
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Welcome aboard. My only advice - save more than initially seems comfortable.
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Old 09-19-2012, 11:10 PM   #3
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Welcome! I agree, save as much as you can squeeze out and then some. You'll be happy you did.
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Old 09-19-2012, 11:14 PM   #4
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Some of your comments reflect the thoughts of many of us who have retired early. Although I started working payroll-taxable jobs at 14 years old, I didn't start my long-term career until I was 26. I retired at 56.

I suggest living below your means, minimizing expensive vacations, and not buying a new car more than once every 10 years.
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Old 09-20-2012, 04:18 PM   #5
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Originally Posted by Beryl View Post
I suggest living below your means, minimizing expensive vacations, and not buying a new car more than once every 10 years.
Absent winning the lottery that's the only plan that will work. You will find that sentiment repeated throughout this board.

"The only trouble with loans is that they always want you to pay it back. Plus interest."

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Old 09-20-2012, 07:12 PM   #6
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When I look at the travels people on the board take, it hardly seems that they are minimizing expensive vacations. Paris in spring, Rome in fall, and a few weeks ski-ing in winter before heading off to the Bahamas for some fishing.

I wish!

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Old 09-20-2012, 07:21 PM   #7
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I do not minimize expensive vacations at all. I would rather have experiences than possessions.
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Old 09-20-2012, 07:38 PM   #8
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Welcome to the forum.
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