What is or was your employment background?

[wildcat]

You know I am surprised we don't see more teachers in the ER forum. Pensions are pretty decent and I think many can get out after 20 or so years.

9% for the banking/insurance/finance? Maybe I am in the wrong biz

 

[brewer12345]

It doesn't take "education" and facility with spreadsheets.  More than anything else, it takes nerve. 

I was thinking about this on my way to w*** this morning. In honor of my favorite, least PC holiday, I was thinking that making the big leap into FIRE is not entirely unlike what Columbus did. You are making a big leap of faith that your best, most educated guess about the shape of the future is right and that it will work out. The downside, in many cases, isn't all that pretty. But oh the upside...

 

[Dawg52]

Insurance would have been a good racket to get into. I know some that had to work pretty hard for a few years to get their customer base established, but after that........a fairly easy life. The ones I know take the afternoon off  and play golf. If I had a schedule like that, I might delay ER a few more years.  

 

[wildcat]

I was thinking about this on my way to w*** this morning. In honor of my favorite, least PC holiday, I was thinking that making the big leap into FIRE is not entirely unlike what Columbus did. You are making a big leap of faith that your best, most educated guess about the shape of the future is right and that it will work out. The downside, in many cases, isn't all that pretty. But oh the upside...

Every estimate or projection is only as good as a person's logic & thoroughness. Maybe that is why ERs worry at times..."ahh maybe I missed something"

 

[retire@40]

I was thinking about this on my way to w*** this morning.  In honor of my favorite, least PC holiday, I was thinking that making the big leap into FIRE is not entirely unlike what Columbus did.  You are making a big leap of faith that your best, most educated guess about the shape of the future is right and that it will work out.  The downside, in many cases, isn't all that pretty.  But oh the upside...

And don't forget the luck factor.  Even Columbus was lucky there was a big pice of land between Spain and the real Indies.  Still, I give Columbus a lot of credit for doing something nobody else either could not or would not do.

 

[brewer12345]

Insurance would have been a good racket to get into. I know some that had to work pretty hard for a few years to get their customer base established, but after that........a fairly easy life. The ones I know take the afternoon off  and play golf. If I had a schedule like that, I might delay ER a few more years.  

Yeah, but that person beat the very long odds. Even the best insurance companies count themselves successful if they have more than 20% of their new recruits after 4 years. You know what that means? A very, very high flame-out ratio.

 

[maddythebeagle]

I dont know how to code "sandwich artist"?

 

[wildcat]

Insurance would have been a good racket to get into. I know some that had to work pretty hard for a few years to get their customer base established, but after that........a fairly easy life. The ones I know take the afternoon off and play golf. If I had a schedule like that, I might delay ER a few more years

I'm a pretty sh!tty salesman too

 

[Dawg52]

Yeah, but that person beat the very long odds.  Even the best insurance companies count themselves successful if they have more than 20% of their new recruits after 4 years.  You know what that means? A very, very high flame-out ratio.

I was referring more to the independent agent who does not work directly for one company. A good example of what you just described is with a company like Aflac. I get calls from them all the time and it is never with the same person. They wear me out.

 

[brewer12345]

I was referring more to the independent agent who does not work directly for one company. A good example of what you just described is with a company like Aflac. I get calls from them all the time and it is never with the same person. They wear me out.

Actually, the independents have a very high flame-out ratio, too. The ones who are good salesmen do well, but they could make money selling anything (my dad went from selling fish to selling jewelry). Most of the others leave the business after a year or three, or eke out a living.

 

[ProfHaroldHill]

I dont know how to code "sandwich artist"

I was looking for "soup nazi" myself, but couldn't find that one either.

HH

 

[yakers]

You know I am surprised we don't see more teachers in the ER forum.  Pensions are pretty decent and I think many can get out after 20 or so years.   

9% for the banking/insurance/finance?  Maybe I am in the wrong biz 

My wife, exwife, sister & a bunch of (now) old girlfriends are teachers. These wonderfully optomistic people are remarkably clueless about retirement. Which is just as well because except for places like NYC and a few others their pensions are inadequate. My unmarried sister is planning to work past 70 to get enough retirement. My wife will retire at 58 in June 06 with 25 years of service with grad degree with about 20K pension (maybe 22k if she adds more hours this last year. It is based on her high three years of service so she has added projects that add to the base salery.) She is retiring because she is burned out (got the "class from hell" last year) and because she can based on my income/anticipated pension.
Her pension is "partially COLAd". She will not get social security. On her teachers salery she was unable to save significantly. Since we got married 12 years ago we paid off bills and started adding to her 403b and a Roth. On her own income she would never be an ER. But most of the teachers I know arre LBYM types which is a good thing. One good thing they do have is medical coverage although that is getting pushed back these days.
But aside from the finances there is just no consciousness of finances and systematic savings. Fortunately most of the teachers are married.
What passes for financial advisors from the 403b agents is almost criminal. Teachers need Vanguard and they are getting worse "service" than First Command.

 

[Martha]

I was looking for "soup nazi" myself, but couldn't find that one either.

HH

Professor HH, are you not the fly-by-night con artist who nevetheless gets the lovely librarian and sees the error of his ways?

Welcome to the board.

 

[ProfHaroldHill]

Marth -- That's my story, at least for the time being . . . I am guilty as charged. Thanks for the welcome!

HH

 

[wildcat]

I see Big Brother added sandwich artist