Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Can You Retire Before You Die?
Old 08-07-2011, 06:18 PM   #1
Recycles dryer sheets
 
Join Date: Apr 2010
Posts: 412
Can You Retire Before You Die?

Can You Retire Before You Die?

"* The last of these 100 retirees, is the only one who is financially independent. This retiree has assets approaching or exceeding $1,000,000. They do not need the income from Social Security at all."
__________________

__________________
“The problem with the world is that the intelligent people are full of doubt, while the stupid people are full of confidence.”

(—Charles Bukowski)
wanaberetiree 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 08-07-2011, 06:25 PM   #2
Full time employment: Posting here.
Coolius's Avatar
 
Join Date: May 2010
Posts: 682
The article is written by a lady that promotes home-based businesses as a way to escape the Megacorp syndrome.

Might it not be that the article seeks to alarm and motivate readers into considering a home based business?

Well, happy to be retired and out of that picture. My opinion is of no concern or relevance.
__________________

__________________
Coolius is offline   Reply With Quote
Old 08-07-2011, 06:48 PM   #3
Thinks s/he gets paid by the post
packrat44's Avatar
 
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
A very high percentage of people on this forum have made Mistake #6 and are headed for doom and gloom.
__________________
Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
packrat44 is offline   Reply With Quote
Old 08-07-2011, 06:55 PM   #4
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,087
Quote:
Originally Posted by packrat44 View Post
A very high percentage of people on this forum have made Mistake #6 and are headed for doom and gloom.
Yep, especially if they also made Mistake #8

Quote:
Mistake Number 8: Failing to seek expert financial and retirement guidance.
To save everyone the trouble of reading the [very questionable] article, here are the "... common and costly retirement planning mistakes that could seriously jeopardize your future and the lifestyle you dream of for your retirement."

Quote:
Mistake Number 1: Procrastination
Mistake Number 2: Not realizing that you’ll need a specific amount of money to sustain you each month when retired.
Mistake Number 3: Relying on the belief you’ll be able to draw FULL Social Security benefits.
Mistake Number 4: The under-estimation of your medical costs if you are not in good health.
Mistake Number 5: Not setting up your long-term-care insurance early.
Mistake number 6: Making the assumption that you can retire early.
Mistake Number 7: Getting into the false hope that in retirement you will be in retirement-mode.
Mistake Number 8: Failing to seek expert financial and retirement guidance.
I've seen much better advice on this forum...
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 08-07-2011, 07:05 PM   #5
Full time employment: Posting here.
flyfishnevada's Avatar
 
Join Date: Jan 2010
Location: Smith
Posts: 743
Scare-mongering to sell you something.

Mistake Number 2: Not realizing that you’ll need a specific amount of money to sustain you each month when retired. What is that specific amount? Oh yeah, there is none, people retire on all kinds of amounts. It just takes an adjustment in your spending habits.
Mistake number 6: Making the assumption that you can retire early. You can retire whenever you want. See above.
Mistake Number 7: Getting into the false hope that in retirement you will be in retirement-mode. Retirement-mode? Is that more of the lie that you will be bored, longing to go back to the rat race, or maybe just set up a home based business? Retirement-mode is an attitude.
Mistake Number 8: Failing to seek expert financial and retirement guidance. There are more retirement experts on this forum that in all retirement planning places that advertise on TV combined. Must be a plug for Early-Retirement.org.
__________________
Retired July 4th, 2010 at age 43
Trout Bum, Writer, Full-Time Dad and Husband


flyfishnevada is offline   Reply With Quote
Old 08-07-2011, 07:10 PM   #6
Thinks s/he gets paid by the post
JPatrick's Avatar
 
Join Date: Jun 2005
Posts: 2,494
Quote:
Originally Posted by wanaberetiree View Post
Can You Retire Before You Die?

"* The last of these 100 retirees, is the only one who is financially independent. This retiree has assets approaching or exceeding $1,000,000. They do not need the income from Social Security at all."
Regarding the above statement from the article, I'd say--not so fast.
Before a million bucks makes you ready to return your social security check, think about what can happen if this money is in the market..Oh its in real estate? Same thing.
Point is, a million bucks ain't what it once was. It is a nice number, but please, keep your benefit.
__________________
JPatrick is offline   Reply With Quote
Old 08-07-2011, 07:24 PM   #7
Thinks s/he gets paid by the post
packrat44's Avatar
 
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
Quote:
Originally Posted by JPatrick View Post
Regarding the above statement from the article, I'd say--not so fast.
Before a million bucks makes you ready to return your social security check, think about what can happen if this money is in the market..Oh its in real estate? Same thing.
Point is, a million bucks ain't what it once was. It is a nice number, but please, keep your benefit.
I believe that statement about $1mil was made in 1980. Equates to about $3.5mil today.
__________________
Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
packrat44 is offline   Reply With Quote
Old 08-07-2011, 07:27 PM   #8
Thinks s/he gets paid by the post
Brett_Cameron's Avatar
 
Join Date: May 2011
Location: South Eastern USA
Posts: 1,010
Oops, yes I did.
__________________
Brett_Cameron is offline   Reply With Quote
Old 08-07-2011, 07:27 PM   #9
Thinks s/he gets paid by the post
JPatrick's Avatar
 
Join Date: Jun 2005
Posts: 2,494
Quote:
Originally Posted by packrat44 View Post
I believe that statement about $1mil was made in 1980. Equates to about $3.5mil today.
Wow..I did not notice the cobwebs on the article.

I'm still keeping the check...
__________________
JPatrick is offline   Reply With Quote
Old 08-07-2011, 07:39 PM   #10
Thinks s/he gets paid by the post
 
Join Date: Sep 2009
Location: Hong Kong
Posts: 1,572
#1 Since when is procrastination a bad thing? Unless my wife tells me otherwise, I'm always willing to put off until another day anything that does not absolutely have to be done today.

The article would have read better if the points raised had been presented as a list of issues to consider when planning for retirement.
__________________
Budgeting is a skill practised by people who are bad at politics.
traineeinvestor is offline   Reply With Quote
Old 08-07-2011, 08:42 PM   #11
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
The blog seems to be engaged in a spam contest with its commenters.

Maybe they can enrich themselves by clicking on each other's links. Self-perpetuating garbage?
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 08-07-2011, 11:41 PM   #12
Thinks s/he gets paid by the post
packrat44's Avatar
 
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
Quote:
Originally Posted by JPatrick View Post
Wow..I did not notice the cobwebs on the article.

I'm still keeping the check...
Some people who started employment when/after this article was published have already retired. Oops, there goes Mistake #6 again.
__________________
Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
packrat44 is offline   Reply With Quote
Old 08-08-2011, 06:28 AM   #13
Recycles dryer sheets
 
Join Date: Jan 2008
Posts: 384
Quote:
Mistake Number 8: Failing to seek expert financial and retirement guidance.
this one should say:

Mistake Number 8: Seeking and following 'expert' financial and retirement guidance without really understanding it.

That is, paying a financial advisor to manage your finances instead of learning the basics for yourself. (A mistake I made before finding this forum).
__________________
JoeDreaming is offline   Reply With Quote
Old 08-08-2011, 06:47 AM   #14
Full time employment: Posting here.
bruce1's Avatar
 
Join Date: Aug 2004
Location: Hagersville
Posts: 793
Quote:
Originally Posted by flyfishnevada View Post

Mistake Number 8: Failing to seek expert financial and retirement guidance. There are more retirement experts on this forum that in all retirement planning places that advertise on TV combined. Must be a plug for Early-Retirement.org.
HEy I got an idea for the home based business. Open as a retirement advisor and if there is a question I can not answer ask for advice here. LOL fat chance of me being a retirement advisor.
__________________

__________________
I wish I was half as good as my dog thinks I am!
bruce1 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
Can we retire now? bellhead FIRE and Money 18 08-05-2011 09:13 PM

 

 
All times are GMT -6. The time now is 03:07 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.