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Re: ER article:  "American Fairy Tale"
Old 06-24-2004, 12:01 PM   #21
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Re: ER article:  "American Fairy Tale"

I had my tongue stuck in my cheek (does my medical coverage take care of surgical tongue removal?).

However consider:

- If my portfolio goes bust, almost any part time job will cover my expenses. Even grocery store clerk.

- Having to manage 2-3M+ in a portfolio would be more worry to me than the lump I have to manage now

- Fear of "losing it all". I have a lot less to lose, lifestyle wise, and it'd be darn hard to make me lose it!

I've seen what happens when someone used to the masseuse and personal chef is forced against their will to use a plastic backscratcher and budget gourmet in the microwave. It aint pretty. :P
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Re: ER article: *"American Fairy Tale"
Old 06-24-2004, 12:07 PM   #22
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Re: ER article: *"American Fairy Tale"

"Never ever heard the rich complain of their private planes, private yahts or private villas around the world."

If that's the playing field you want, go for it....most of us here, are just ordinary folks, with simple lifes...I could care less about a private jet, etc...just baggage to me, and I do not need it. Been there, done that.

"Give your job to some one less fortunate, retire early"

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I've been poor, and I've been rich...
Old 06-24-2004, 12:11 PM   #23
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I've been poor, and I've been rich...

... and believe me, honey, rich is better.
-- Sophie Tucker

http://www.worldnetdaily.com/news/ar...TICLE_ID=16218
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Re: ER article:  "American Fairy Tale"
Old 06-24-2004, 12:14 PM   #24
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Re: ER article:  "American Fairy Tale"

Quote:
TH...just some questions for you (given that you are the expert)...how much money did you make (range is good enough) to ER? How long has it been since you ERd? And what are some of the things that you do to stay 'unlooped' and fulfilled. I just want to know how the early years of ER are to prepare for what lies ahead...both mentally and physically....
I made stupid money, and spent almost all of it. My W-2's for the last three years of working were all close to a million a year and my lowest in the last 6 was $289k. But like I said, I pissed that away in an amazing display of ridiculousness. I think I spent 10 years humming robert palmers "big time".

Most of my nest egg came from company stock options that I sold almost the minute they matured and reinvested, and a big chunk came from opportunistic real estate purchases and sales. I bought in weak markets, held on until prices were strong, and then sold and moved to another promising but not yet popular area. I could have done MUCH better with the real estate if I'd taken bigger chances.

The critical things in early ER are to establish productive routines, because we ARE routine based critters. Strong italics on the word "productive". Indulge yourself in things that you like that are inexpensive. I took up kayaking and rollerblading, both of which I really enjoy. I spend 2-4 hours a day reading both online and off. I picked up cooking and worked to improve my skills until the wife started saying "lets eat in tonight...I like your cooking better". I got a couple of dogs because for the first time in my life I felt like I could spend enough time with them to make it worthwhile. I bought a batch of good quality tools and challenged myself to learn how to fix my own cars and house stuff.

I think you can see that some of these were indulgences of "new luxuries" (see the post "the new luxuries") that I could enjoy based on having more time on my hands, and some were things I took up that I enjoyed AND saved me money.

Lastly, make sure YOU keep up ties with friends and family. Its easy when leaving work to let the ties that bind you slip off. You're out of sight and out of mind. Expect that some of those "business friendships" will disappear. Put in the time to keep the rest healthy. Nobody will say it to you, but they're saying to themselves "he has all the free time, HE should be setting up all the play dates!".

What you dont want to end up is the guy sitting in a chair staring at CNN all day and going back to work in a year.
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Re: I've been poor, and I've been rich...
Old 06-24-2004, 12:21 PM   #25
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Re: I've been poor, and I've been rich...

Quote:
... and believe me, honey, rich is better.
-- Sophie Tucker

http://www.worldnetdaily.com/news/ar...TICLE_ID=16218
Good article Nords...we have to love and honor our free spenders.

Funny thing though...when I was a kid and poor, working three jobs just to eat and pay the bills, I remember reading a passage in...of all things I think it was a cookbook. It said something to the effect of "If you think you've got it bad, someone else has it worse. Be grateful for what you do have, go find the person who has it worse and give them any help you can.". I never really felt poor again.

If you want the shortcut, go find that web site that has the calculator on it where you put in your net worth and it tells you your relative position among everyone in the world.
I was in the top .2%. Putting in about $50k net worth still had that person in the top 8%.

Crazy.
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Re: ER article: *"American Fairy Tale"
Old 06-24-2004, 12:39 PM   #26
 
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Re: ER article: *"American Fairy Tale"

Okay, got the message. Just you simple folks on-line. Know of any Forums that 'cater' to the rich and retired? Need to relate to like minded as I'm getting bashed around here. I agree with the other note.....everyone is jealous!
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Re: ER article: *"American Fairy Tale"
Old 06-24-2004, 12:44 PM   #27
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Re: ER article: *"American Fairy Tale"

TH,
THere was an article recently in the Economist stating that there were aproximatly 4.9m people in the world with a net worth of $1m or more excluding their homes.
About 2.4m of these people lived in the USA.

I feel as this number is low. I came from a poor background and I know the families of my brother, sisters, a childhood friend and myself have a net worth - excluding homes of more than $1m.

Several of the people who post here are clsoe to or over $1m.

All that aside it does put things into perspective that we do have the opportunity to enjoy life and we are privildged.
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OK, R&P, on the off chance that you're serious...
Old 06-24-2004, 12:46 PM   #28
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OK, R&P, on the off chance that you're serious...

... http://www.worth.com

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Re: ER article:  "American Fairy Tale"
Old 06-24-2004, 01:00 PM   #29
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Re: ER article:  "American Fairy Tale"

Quote:
Okay, got the message. Just you simple folks on-line. Know of any Forums that 'cater' to the rich and retired? Need to relate to like minded as I'm getting bashed around here. I agree with the other note.....everyone is jealous!
Oh gosh I hope you're not feeling bashed. I have some fond memories of being among the rich and famous.

I'm willing to do an experiment with you. Send me 75% of your assets and follow that up with 75% of your paycheck going forward. I'll resume my prior consumptive lifestyle and after 3 years I'll provide a full and detailed report on which felt better...working, making a million and spending it...not working, living a modest lifestyle...and not working and living like a rock star.
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Re: ER article:  "American Fairy Tale"
Old 06-24-2004, 01:07 PM   #30
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Re: ER article:  "American Fairy Tale"

Quote:
I came from a poor background and I know the families of my brother, sisters, a childhood friend and myself have a net worth - excluding homes of more than $1m.
I wonder what the dynamics are of wealth within families? Some of the more interesting stuff I found in "the millionaire next door" was the demographic studies that found russian immigrants more likely to start businesses, scots to save more, and the fact that these two (and other groups) managed to imprint their values on as many as 3 succeeding generations. There was also some cause and effect regarding children of poor parents and children of rich parents.

In short, I wonder if you and your siblings got a "hard working" aptitude passed to you and took advantage of opportunities, or being pressed by your parents to "have it better"?

Theres a definite imprint in my family. I can think of two uncles and one aunt, along with my dad, who all retired early. All on the basis of working their butts off in mostly blue collar jobs and saving their money. In our old home town where we all grew up and largely lived within 10 miles of each other, I remember talking to a guy who owned the big local furniture store about a job when I was a teenager. His comment "You're from that family? Heck, I'll hire you right now, you folks work like TWO people!".
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Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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Re: ER article: *"American Fairy Tale"
Old 06-24-2004, 02:18 PM   #31
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Re: ER article: *"American Fairy Tale"

Just curious - many here who retired early report earning very large salaries, owning companies, working their tails off, etc. Did anyone just work for average wages, in a regular 40 hour per week job, raise a family, and still manage to save enough to retire early?
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Re: ER article: *"American Fairy Tale"
Old 06-24-2004, 02:47 PM   #32
 
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Re: ER article: *"American Fairy Tale"

To Nords and Cut Throat
Thanks for the worth website, unfortunately, no message forums within it. As for globalrichlist.com, don't trust the numbers given that they just want to make you feel rich so that you give them some money. Let's be real here.

And finally, I did not work all those years to end up living the middle life in my ER. Is this the reward? The definition of R is hopefully living better than before, in more ways than one. This also applies to holiday vacations. Always couldn't understand why people vacation in places where the standard is less than how they live at home. This is what people call their break?
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Re: ER article:  "American Fairy Tale"
Old 06-24-2004, 03:03 PM   #33
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Re: ER article:  "American Fairy Tale"

I think I *am* living far better than before. But that depends on what you define "better" as, and why.

I guess if stuff + stress - time = "better", then its not.

The most fun I have is when someone I used to work with forwards me an email that would have made me go ballistic 5 years ago.

Usually some stuffed head exclaiming with great puffery that they'll be taking over something that didnt belong to them, criticizing something they would have done worse, or blaming something or someone else for their own failings. I used to jump up, nostrils flaring, and stampede to their office to growl and bite, blood pressure soaring.

These make me laugh heartily now. So silly.


Check this out
http://early-retirement.org/cgi-bin/...9001928;start=
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Re: ER article: *"American Fairy Tale"
Old 06-24-2004, 03:40 PM   #34
 
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Re: ER article: *"American Fairy Tale"

Thanks sooo much for the link! I agree with the New Luxuries whole heartedly. I do very much appreciate the "little" things in life, but it's also good to have the "bigger" things too. What's wrong with having it all?.....Furthermore, if you can accomplish all you want with hardly any stress, all the more better!

Don't we all appreciate things when we don't have them EVERYDAY. In other words for the ER, doesn't it eventually get boring? You have to mix it up abit. If it's sunny and warm EVERYDAY, you really don't appreciate it and take it for granted. Whereas those that live where there are four seasons, you certainly appreciate the sunny and warm season when it comes.
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Re: ER article: *"American Fairy Tale"
Old 06-24-2004, 03:55 PM   #35
 
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Re: ER article: *"American Fairy Tale"

Cut Throat....you're name is sooooo appropriate...don't need any advice at all, just wanted to chat with some ERs....didn't think I'd run into some jealous and envious folks. This is no fun at all....outa here.
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Re: ER article: *"American Fairy Tale"
Old 06-24-2004, 04:26 PM   #36
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Re: ER article: *"American Fairy Tale"

Quote:
*If it's sunny and warm EVERYDAY, you really don't appreciate it and take it for granted. *Whereas those that live where there are four seasons, you certainly appreciate the sunny and warm season when it comes. *
That is what my Dad always told me. Then I moved to Venice Beach, and found out that he lied.

Mikey
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Re: ER article: *"American Fairy Tale"
Old 06-24-2004, 05:11 PM   #37
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Re: ER article: *"American Fairy Tale"

Quote:
...I did not work all those years to end up living the middle life in my ER. *Is this the reward?
Yes, it is an incredible reward. If you don't get it, hang around and maybe you'll learn something.

Quote:
Okay, got the message. Just you simple folks on-line. Know of any Forums that 'cater' to the rich and retired? Need to relate to like minded as I'm getting bashed around here. I agree with the other note.....everyone is jealous!
Based upon the content of your limited posts, I suspect that many of the "simple folks" who frequent this forum could eat you for lunch on their worst days.

Quote:
...didn't think I'd run into some jealous and envious folks. This is no fun at all....outa here.
I can almost assure you that nobody here is envious of you, or anyone else. You have completely misread the people who frequent this forum. You have a great deal to learn; about people and about life.
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Re: ER article:  "American Fairy Tale"
Old 06-24-2004, 05:22 PM   #38
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Re: ER article:  "American Fairy Tale"

Bob -thanks for saying what I was thinking.

Had the expectant missus not popped out of bed an hour ago demanding a lumberjacks breakfast, I'd be hungry enough

Too much work to consider further.

Mikey - after 11 years in california on the heels of 32 in new england...you're right, your dad is a big fat liar... Every time I went out and got in my convertible and muttered "another perfect day in paradise" I chuckled indulgently...
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Re: ER article: *"American Fairy Tale"
Old 06-24-2004, 08:14 PM   #39
 
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Re: ER article: *"American Fairy Tale"

I would trade a COLAed pension for $1,000,000
in a heartbeat. See, it all depends on how long you expect to be around. I would opt for the bird in the hand. A million bucks would last me a long long time.

John Galt
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Re: ER article: *"American Fairy Tale"
Old 06-24-2004, 08:16 PM   #40
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Re: ER article: *"American Fairy Tale"

Quote:
Bob, I'm not sure any of us would actually be willing to ER in the "middle", at least NOT the median of the billions of people on earth.
I agree GDER. I assumed he was talking about settling for the US middle class lifestyle vs. working until he was able to afford the good life. Nevertheless, the guy came off as quite the prima donna. He didn't strike me as the heavyweight he claimed to be; quite the contrary, in fact.
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