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Old 01-19-2013, 09:34 AM   #61
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I would not have it any other way either. Except for one member in particular who seems to be very contrarian and ornery, whatever is being said. He knows who he is. :-)
Seems disrespectful...
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Old 01-19-2013, 10:05 AM   #62
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Nothing to do with you either, Midpack. And you know it. Now can we please drop it and discuss the main topic of this thread? Thank you.
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Seems disrespectful...
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Old 01-19-2013, 10:29 AM   #63
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Nothing to do with you either, Midpack. And you know it. Now can we please drop it and discuss the main topic of this thread? Thank you.
By all means. But I had no idea who you meant...and don't want to.
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Target AA: 60% equity funds / 35% bond funds / 5% cash
Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)
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Old 01-19-2013, 10:33 AM   #64
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I don't discuss porfolio or investing with anyone other than a brother in-law of like mind set. I'd be expected to pick up the lunch and or bar tab - I did not get my pile by doing that kind of thing

As far as not telling neighbors or family about what you have for fear of getting robbed....just tell them the only thing of value have is a Glock .40 caliber strapped to your belt at all times
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Old 01-19-2013, 12:12 PM   #65
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I've mentioned to immediate family that planning for retirement is a hobby of mine, also that we hope to retire early.

Not a big deal to anyone, just conversation.

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Old 01-19-2013, 12:48 PM   #66
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I have also found it is best to lay low. If you've saved well for retirement you are not among the majority of people, and it is easily to come across as bragging when discussing how you have planned. Particularly with all of the negative news in the media regarding retirement. We have relatives who were spendthrifts when we were younger and have now gotten themselves in trouble who subtly try to figure out how much we have - in order to help them out.

In addition, in our case, the biggest reason we are in a good situation was by starting early saving/investing for retirement - and that is just impossible at this point for many folks our age (50s).

We will discuss general things, like saving, planning, investment allocation, etc. But we will not talk about our specific situation. The closest we come is to let our friends who are in their 20's and 30's, when they broach the subject, know that we started early and that it makes a difference - so they need to start saving/investing right now.
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Old 01-19-2013, 01:29 PM   #67
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I will echo the comments here. I had one friend get our net worth number out of me. He's not the type to beg nor does he need to, but he does treat me differently now. He is very competitive. I do share some with my parents, mostly to learn from their experiences. With the rest, I only throw a few hints here and there to keep them guessing :-)
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Old 01-19-2013, 02:34 PM   #68
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When discussing retirement at my work place, I'm shocked to hear from the people that I have talked to, they really don't have anything saved. Some of them are busy paying back 401k loan! Basically they have 20k in their 401k after 30 years of working. Really shocking to see most people haven't really saved anything. I think most people are counting on SS and selling their house for retirement money. Of course, they all drive Luxury cars and have nice jewelrys.

Some of these people are in their 60's, absolutely hate their job, and I ask them why they don't retire when they have worked here for 30 years and they basically said they don't have the money. 30 years of working at the same job and zero saving!
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Old 01-19-2013, 02:44 PM   #69
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But how can we know for sure it's not their cover story? Perhaps one of the people claiming poverty is actually another millionaire next door.
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Old 01-19-2013, 02:53 PM   #70
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I do not discuss details of our finances with anyone. But I get a kick disclosing that we are debt free. This bit of information alone is often greeted with surprise and disbelief. I can only imagine what people's reaction would be if they were presented with the whole picture.
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Old 01-19-2013, 03:16 PM   #71
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I doubt if any friends or relatives know our net worth. They do know that we have no pensions, and are just living off savings/investments, but they probably believe one can live off a WR of 10% to 15%. They also may not know how expensive health insurance can get. Hence, they most likely underestimate our net worth.

No point in explaining, although we have no fear of any of our siblings would mooch off us. My brothers also have larger and fancier homes than I do; they will work until their 60s, probably.
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Old 01-19-2013, 04:00 PM   #72
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I also am amazed at some of the tidbits you see or hear from co-workers about their poor financial shape. 401k loan or hardship withdrawal forms mistakenly left on the copier... We also have this program where you can "buy" an additional week or two of vacation time. A senior manager told me several of his staff were buying an additional week and he couldn't understand how they could afford it. The "price tag" would be what, like 2% of your salary (1/52)? Obviously someone who's not on the path of stashing away 25x annual expenses. Yet he makes around $200k and drives a Lexus. Too bad also. Because he is 59, was recently passed up for promotion and really hates coming to work anymore. That "walking away money" would really come in handy for him. Reinforces for me that every sacrifice I make now provides priceless options for the future. Good decisions = freedom of choice. Love it.
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Old 01-19-2013, 05:02 PM   #73
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I've read all the posts on this thread.


We are smug! thats for sure
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Old 01-19-2013, 05:10 PM   #74
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Yes, we are a bunch of smugs.

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Originally Posted by GrayHare View Post
But how can we know for sure it's not their cover story? Perhaps one of the people claiming poverty is actually another millionaire next door.
Perhaps people who are still working already have the same stash as we do, and they are raking more in.

Wait until the next economic downturn, and when these smug early retirees are shaking in their boots when the market tanks, and the workers keep having money coming in, who will be laughing then? Ugh, better stop these bad thoughts.
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Old 01-19-2013, 06:17 PM   #75
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...........

Wait until the next economic downturn, and when these smug early retirees are shaking in their boots when the market tanks, and the workers keep having money coming in, who will be laughing then? Ugh, better stop these bad thoughts.
At the next economic down turn, the workers will be shaking in their boots fearing a layoff.
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Old 01-19-2013, 07:59 PM   #76
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I do not discuss details of our finances with anyone. But I get a kick disclosing that we are debt free. This bit of information alone is often greeted with surprise and disbelief. I can only imagine what people's reaction would be if they were presented with the whole picture.
Same here. Last week a friend at the gym asked how we managed to retire so early with enough money to go on such long vacations. I just said "pensions".

I really don't want to get into details with anyone, except our children.
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Old 01-19-2013, 08:03 PM   #77
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At the next economic down turn, the workers will be shaking in their boots fearing a layoff.
Good point!

There have been quite a few recent threads about fear of the unknown in the future. I figure that fear is overrated, as I have been through a few scary episodes early in life that I cannot see how it can be worse than that. That is unless I get caught in a natural disaster like Katrina or a tsunami. So, I have decided to party and not to worry anymore.

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Old 01-20-2013, 04:43 AM   #78
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I'm not quite sure how we will explain our ER. I'll probably be a financial consultant or be self employed doing "computer stuff".
You could tell them you got FIRED, or injured and went on welfare. Then they'll think you're worse off than they are.
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Old 01-20-2013, 07:52 AM   #79
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Same here. Last week a friend at the gym asked how we managed to retire so early with enough money to go on such long vacations. I just said "pensions".

I really don't want to get into details with anyone, except our children.
We won't even share our details with family. My Dad asked me (via email) if I had a pension after I retired, I just didn't answer...
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Retired Jun 2011 at age 57

Target AA: 60% equity funds / 35% bond funds / 5% cash
Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)
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Old 01-20-2013, 07:59 AM   #80
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I guess my workplace must be unusual, since talking about net worth, investments, and LBYM isn't really "done." Saying you are FI would be regarded in the same light as bragging about how fit and shapely you are, and wanting to share your workout routine, diet, etc so that others can improve to your level.

The one exception seems to be real estate - people used to brag a lot about making money there. I don't know why that one financial topic would be OK; that is just my observation.

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