52 and likely to FIRE in 2013

[mamadogmamacat]

A bit bummed about it, as my plan up until the election was to wait until Jan 2016, to maximize the pension portion of my income............but the election did not go the way I had hoped as someone who works in the "evil" defense industrial complex.......... so 99% percent chance of being out of work sometime in 2013..........on the positive side, compared to many others scrambling to find other work next year, at least i CAN FIRE, even if it will not be with quite the lifestyle i had hoped for............actively trading stocks with some mad money is one idea i am toying with.......

[Lazarus]

Its great to have the option to FIRE. Makes work look very different. I left the first day I could FIRE.

[azphx1972]

Politics aside, very few of us are guaranteed to have continued employment, so it's always prudent to treat income like lottery winnings. At least you had the foresight to save it rather than spend it, so congrats. Good luck with trading stocks. It might be fun but I wouldn't count on it as a reliable income stream.

[racy]

Quote:

Originally Posted by azphx1972 ... Good luck with trading stocks. It might be fun but I wouldn't count on it as a reliable income stream.

+1. But, there's always Lily Byron's Forex opportunities!

[growing_older]

Quote:

actively trading stocks with some mad money is one idea i am toying with

This will almost always result in losing your mad money. Be sure it's no more than you can spare, or you'll end up scrambling for employment again. There are lots more unsuccessful traders than successful ones, and even some of the successful ones are just telling tall stories to cover up how much they really lost.

[Lazarus]

Quote:

Originally Posted by growing_older This will almost always result in losing your mad money. Be sure it's no more than you can spare, or you'll end up scrambling for employment again. There are lots more unsuccessful traders than successful ones, and even some of the successful ones are just telling tall stories to cover up how much they really lost.

Yes, no one ever brags that they lost their a** in the stock market.

[MichaelB]

Quote:

Originally Posted by Lazarus Yes, no one ever brags that they lost their a** in the stock market.

I took a bath in 2002 and it almost cost our retirement. It is amazingly easy to lose it all. A couple of members here have had it worse and freely acknowledged it. Not bragging, but not hiding or spinning either.

There is no difference between trading "mad money" and trading the whole portfolio. A very few professionals can do it and make lots of money. The rest of us fund their holiday bonus and family vacations.

[mamadogmamacat]

LOL big time on the Lily Byron FOREX reference.........read some of that thread........that idea was just a bit of tongue in cheek humor I think, or so I hope....do think it is painting with a bit of broad brush to say trading with mad money is the same as trading with the whole enchilada, as it were...after all, lose the mad money and that's sad but no impact to lifestyle choice, big difference if you lose your whole portfolio......also not expecting to hit it big with the mad money, just perhaps to be able to have a little more to give to charity than I might otherwise ( this is my biggest regret about almost certainly having to FIRE 2 to 2 1/2 years earlier than I had planned to do before the Nov 6th election result), and maybe fund an extra short vacation each year........something of that nature