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08-28-2018, 01:40 PM
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#1
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Dryer sheet aficionado
Join Date: Nov 2014
Posts: 42
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Took the plunge
I pulled the plug at 62 after a 44 year career as a laborer in a paper mill.
Our investments though meager by comparison to most should be adequate to see us through the years.
We own our home outright and have no debts other than the recurring monthly bills.
Our annual income was never more than $90K and we were able to invest a substantial portion of that the last several years while living on $45K.
Social security income will be approximately 3K, retirement pension will be 2K.
Investments total 950K with 240K of that in cash assets.
Wife is eligible for Medicare and I will be purchasing insurance through COBRA from my employer.
We recently purchased a new car, so major transportation expense should be covered for a few years.
My hobbies are cutting firewood, hunting/fishing locally and repairing chainsaws.
Wife is big into quilting.
I am working on making a deal to purchase a woodlot near our home for firewood and hunting activities, but don’t project this to cost more than 40K. I am batting around the idea of making a firewood cutting business with no eye to making a huge profit.
Only travel plans are to jump on a train and take it wherever it goes and possibly an Alaskan cruise at some point in the next couple of years.
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08-28-2018, 01:47 PM
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#2
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,710
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Congratulations on your retirement!
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08-28-2018, 01:48 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Jun 2004
Location: Diablo Valley (SF Bay Area)
Posts: 2,705
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Welcome! New income of 60k after living on 45k? 
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08-28-2018, 01:54 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Mar 2008
Location: Atlanta Suburb
Posts: 1,499
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Congratulations. Well done.
__________________
"Oh, twice as much ain't twice as good
And can't sustain like one half could
It's wanting more that's gonna send me to my knees" - John Mayer
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08-28-2018, 02:10 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Jan 2017
Location: Hog Mountian
Posts: 2,077
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Outstanding job of socking away that dough!
Welcome to the free zone. It grows on you. 
__________________
Never let yesterday use up too much of today.
W. Rogers
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08-28-2018, 02:10 PM
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#6
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Full time employment: Posting here.
Join Date: May 2014
Posts: 979
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You sound like the poster children for the virtues of LBYM!
Welcome to the good life!
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08-28-2018, 02:13 PM
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#7
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Apr 2013
Posts: 11,078
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Congratulations from a former logger and sawmill worker. I only did it ten years before I found an easier way to make a buck.
Good luck on your woodlot purchase and retirement. Many folks don't know how they found the time to work before. I'm one of them..
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08-28-2018, 02:15 PM
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#8
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Recycles dryer sheets
Join Date: Jan 2015
Location: Rural VT
Posts: 307
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Good job! And not everyone here had huge salaries nor have huge nest eggs. You did well. Where I live there is always a call for firewood and a guy who can fix chainsaws.
Welcome!
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08-28-2018, 02:19 PM
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#9
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Full time employment: Posting here.
Join Date: May 2011
Posts: 873
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Congratulations on your retirement and the rest of your FIRED Life!
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08-28-2018, 02:25 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Mar 2005
Location: yonder
Posts: 2,851
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 Quote:
Originally Posted by Alderman
I pulled the plug at 62 after a 44 year career as a laborer in a paper mill.
Congratulations on the retirement. Sounds as if you and the wife figured it out well.
My hobbies are cutting firewood, hunting/fishing locally and repairing chainsaws.
Wife is big into quilting.
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But, I do have a few questions: I have seen lists of hobbies that included hunting/fishing, repairing equipment and quilting. I've never seen "cutting firewood" on one of these lists. Is it a common hobby in your area? Is it fun and/or interesting? Do you do it with friends?
__________________
When the people shall have nothing more to eat, they will eat the rich--philosopher Jean-Jacques Rousseau
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08-28-2018, 02:41 PM
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#11
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Dryer sheet aficionado
Join Date: May 2016
Location: Lehi
Posts: 25
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Do you have a wood burning stove in your home? That is the best heat ever! We heated our house exclusively with wood for 18 years. Did all my own cutting. Cutting with a real chainsaw (Stihl is my favorite) and a fresh chain is a top five activity and great exercise.
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08-28-2018, 02:51 PM
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#12
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,298
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Congrats on your retirement. Any reason why carrying a somewhat large % in cash?
__________________
TGIM
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08-28-2018, 03:40 PM
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#13
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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Congratulations !
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08-28-2018, 03:53 PM
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#14
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,340
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Congratulations on retirement! I've never heard of anyone who cut firewood as a hobby (sounds like work, even with a log splitter) but to each his own.
__________________
When I was a kid I wanted to be older. This is not what I expected.
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08-28-2018, 05:59 PM
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#15
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Dryer sheet aficionado
Join Date: Aug 2018
Posts: 36
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Well done...well done. Time to go enjoy that money you two worked so hard to save. You guys did an outstanding job saving and LBYM and sounds like you have some hobbies lined up. Btw - you have to be the poster child example for your paper mill on showing up and doing a good job and saving $ along the way...again, outstanding job and inspiring!
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08-28-2018, 06:11 PM
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#16
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Recycles dryer sheets
Join Date: Aug 2017
Posts: 70
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Congratulations! Move that Alaska trip up. Enjoy yourselves -- you've earned it.
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08-28-2018, 06:54 PM
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#17
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Full time employment: Posting here.
Join Date: Jul 2014
Posts: 930
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Congratulations!
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08-28-2018, 07:24 PM
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#18
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Full time employment: Posting here.
Join Date: Dec 2012
Posts: 751
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Congratulations! I had a bit less and retired at 55. It can be done and it sounds like you have done good planning and have realistic expectations. Enjoy the freedom!
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08-28-2018, 07:37 PM
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#19
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Full time employment: Posting here.
Join Date: Jul 2010
Location: San Francisco
Posts: 862
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congrats 
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08-29-2018, 12:36 AM
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#20
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Dryer sheet aficionado
Join Date: Nov 2014
Posts: 42
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Quote:
Originally Posted by redduck
But, I do have a few questions: I have seen lists of hobbies that included hunting/fishing, repairing equipment and quilting. I've never seen "cutting firewood" on one of these lists. Is it a common hobby in your area? Is it fun and/or interesting? Do you do it with friends?
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I grew up in a house heated by wood and began helping my father collect wood at a young age. While it is physically demanding, I’ve always enjoyed the process. It gives me a sense of accomplishment to keep the wood sheds full and I’ve been able to help supply others in need of wood.
My favorite part is running the saws, so much so I end up cutting more than I can use.
At this point, I enjoy having the time where I don’t have to push myself and I feel time spent in the woodlot to be rewarding.
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