Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 03-28-2011, 01:13 PM   #61
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by misanman View Post
I can name 8 off hand and can probably think of more. They all fall into one of three categories: public service employees, teachers, and people who were forced out or elected to take an early retirement package.
In other words, folks who have a pension and health care coverage until Medicare kicks in?
__________________

__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 03-28-2011, 01:21 PM   #62
Thinks s/he gets paid by the post
ls99's Avatar
 
Join Date: May 2008
Posts: 4,792
Other than DW I know no one in person who ERd.
__________________

__________________
There must be moderation in everything, including moderation.
ls99 is offline   Reply With Quote
Old 03-28-2011, 03:05 PM   #63
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 7,379
Quote:
Originally Posted by FinanceDude

In other words, folks who have a pension and health care coverage until Medicare kicks in?
The other group who is most likely to have the wealth to retire USUALLY won't, that being successful small business owners. If you own something, I imagine it's hard to let it go even if you can afford to, because you built it and it is part of your identity. I know several barbers and all the farmers I know wont quit until they are sent to the nursing home even though they don't need the money.
__________________
Mulligan is offline   Reply With Quote
Old 03-28-2011, 03:11 PM   #64
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Quote:
Originally Posted by Mulligan View Post
The other group who is most likely to have the wealth to retire USUALLY won't, that being successful small business owners. If you own something, I imagine it's hard to let it go even if you can afford to, because you built it and it is part of your identity. I know several barbers and all the farmers I know wont quit until they are sent to the nursing home even though they don't need the money.
DW's family are all farmers. Trust me when I tell you most famers are NOT rich! The tough part is when the kids decide they don't want to carry on the family business of farming, and the parents don't want to sell out to someone they don't trust. Most farmers I know would be more than willing to sell their land to a developer if they know they are not getting screwed..........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude is offline   Reply With Quote
Old 03-28-2011, 03:34 PM   #65
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 7,379
Quote:
Originally Posted by FinanceDude

DW's family are all farmers. Trust me when I tell you most famers are NOT rich! The tough part is when the kids decide they don't want to carry on the family business of farming, and the parents don't want to sell out to someone they don't trust. Most farmers I know would be more than willing to sell their land to a developer if they know they are not getting screwed..........
Thats Interesting, and I'd agree a lot of farmers aren't rich.The ones I know have had their land paid off long ago and buy new equipment with cash for tax write offs. Plus, they didn't have to try to make the income of the land stretch out for their children. That's interesting the ones you know would sell out, because the friends I know wouldn't sell, but they would buy more if someone would sell it to them! The area I'm referring to no developers would offer to them because we are talking about rural in the middle of nowhere farm country!
__________________
Mulligan is offline   Reply With Quote
Old 03-28-2011, 05:13 PM   #66
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Purron's Avatar
 
Join Date: Nov 2007
Posts: 5,584
My father retired at 52. Bought a camper and went exploring the country with my mom. Died unexpectedly of a heart attack at 54. Changed my thoughts about life, the universe and everything.
__________________
I purr therefore I am.
Purron is offline   Reply With Quote
Old 03-28-2011, 05:56 PM   #67
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,423
Uh oh!

Like me, my motor home, and my dream to drive it up to Alaska. Except that I have not been up to Alaska yet.

I better not tell my wife about this story. She might not want to go with me on the next trip, 'cause she has never driven this motor home, is afraid to, and would not want to drive it back home by herself.

I would not want to die so young, but when my time comes, to die suddenly because of a heart attack or a stroke would be my choice. And I am sure I am not alone.
__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   Reply With Quote
Old 03-28-2011, 06:00 PM   #68
Thinks s/he gets paid by the post
 
Join Date: Nov 2005
Location: North of Montana
Posts: 2,753
Quote:
Originally Posted by FinanceDude View Post
DW's family are all farmers. Trust me when I tell you most famers are NOT rich! The tough part is when the kids decide they don't want to carry on the family business of farming, and the parents don't want to sell out to someone they don't trust. Most farmers I know would be more than willing to sell their land to a developer if they know they are not getting screwed..........
Quote:
Originally Posted by Mulligan View Post
Thats Interesting, and I'd agree a lot of farmers aren't rich.The ones I know have had their land paid off long ago and buy new equipment with cash for tax write offs. Plus, they didn't have to try to make the income of the land stretch out for their children. That's interesting the ones you know would sell out, because the friends I know wouldn't sell, but they would buy more if someone would sell it to them! The area I'm referring to no developers would offer to them because we are talking about rural in the middle of nowhere farm country!
Interesting. Hate to hijack the thread. Farmers aren't rich? Farmers wouldn't sell to someone they don't trust but a developer would be OK?

My father was a farmer, my FIL was a farmer, I was a farmer (for a few years in my youth), my late BIL was a farmer, my brother was a farmer, two brothers and two nephews are still farmers.

My late FIL, late BIL and my brothers may have been/be "rich". Their NW's are/were seven digits and the first digit was/is not always a "1". However, they "lived poor". Their spendable incomes were a very small return on their assets if you subtract a reasonable amount for labor.

My nephews' NWs are probably near zero. It takes time to pay down the loans. Their spendable incomes are not currently compensating them for their time and expertise as well as the financial risks they take. In 30 years they will be "rich" or broke.

All of them consider land to be something you buy, not something you sell. No family member has ever sold an acre of land. The original land settled by my GF and GF-in-law is still in the family after 100+ years. One brother had to retire for health reasons. He rented his land. He had multiple offers to buy it but refused. DW & I own a small amount of farm land. Its return has been small but we'd never sell unless forced (truth be told, that's if no family member wants to rent it and no one else would be interested if adjacent land was not available).

The farmers I know wouldn't sell to anyone but another farmer but in our area selling to a developer is not an option. Selling to a speculator investor is considered obscene. Whether they are "rich" or not depends only on their age.
__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
kumquat is offline   Reply With Quote
Old 03-28-2011, 06:32 PM   #69
Thinks s/he gets paid by the post
Free To Canoe's Avatar
 
Join Date: May 2008
Location: Cooksburg,PA
Posts: 1,738
I know some friends that ERed because of disability.
One friend of a friend ERed on investments. Over the years he went from a house to a trailer and in recent years lives in his truck.
Brother and sister in law ERed but she went back to work.

That is everyone that I know of.
__________________
Free to canoe
Free To Canoe is offline   Reply With Quote
Old 03-28-2011, 06:36 PM   #70
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,423
None sounded like a happy ER story, particularly the following:
Quote:
Originally Posted by Free To Canoe View Post
Over the years he went from a house to a trailer and in recent years lives in his truck.
__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   Reply With Quote
Old 03-28-2011, 06:57 PM   #71
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 7,379
Quote:
Originally Posted by kumquat

Interesting. Hate to hijack the thread. Farmers aren't rich? Farmers wouldn't sell to someone they don't trust but a developer would be OK?

My father was a farmer, my FIL was a farmer, I was a farmer (for a few years in my youth), my late BIL was a farmer, my brother was a farmer, two brothers and two nephews are still farmers.

My late FIL, late BIL and my brothers may have been/be "rich". Their NW's are/were seven digits and the first digit was/is not always a "1". However, they "lived poor". Their spendable incomes were a very small return on their assets if you subtract a reasonable amount for labor.

My nephews' NWs are probably near zero. It takes time to pay down the loans. Their spendable incomes are not currently compensating them for their time and expertise as well as the financial risks they take. In 30 years they will be "rich" or broke.

All of them consider land to be something you buy, not something you sell. No family member has ever sold an acre of land. The original land settled by my GF and GF-in-law is still in the family after 100+ years. One brother had to retire for health reasons. He rented his land. He had multiple offers to buy it but refused. DW & I own a small amount of farm land. Its return has been small but we'd never sell unless forced (truth be told, that's if no family member wants to rent it and no one else would be interested if adjacent land was not available).

The farmers I know wouldn't sell to anyone but another farmer but in our area selling to a developer is not an option. Selling to a speculator investor is considered obscene. Whether they are "rich" or not depends only on their age.
Kumquat, you expressed yourself better than I did. Seems like we are talking about the same people! Now back to the thread......
__________________

__________________
Mulligan is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Do people actually retire early? accountingsucks FIRE and Money 138 07-04-2010 12:24 PM
Poll: How much money do people have who are retired? Earl E Retyre FIRE and Money 49 06-16-2010 07:49 AM
Need People For Early Retirement Article bes Hi, I am... 25 02-27-2006 02:04 PM
WHAT RETIRED PEOPLE DO sgeeeee Life after FIRE 13 03-29-2004 08:43 AM

 

 
All times are GMT -6. The time now is 12:23 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.