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06-03-2016, 11:07 AM
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#301
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Full time employment: Posting here.
Join Date: Sep 2014
Posts: 600
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Quote:
Originally Posted by rodi
LOL - It sounds like they are. They like travelling with Bruno.
I am curious - what is the cutoff for "OK" to be retired? 40? 50? What about 39?
I'm asking this as an intellectual exercise.... I assume my retirement age (52) met the approved range for ER. As others have mentioned - this is the **EARLY** retirement forum. I thought we were supportive of people wanting to retire early. But apparently there is some magic age that makes it ok vs too early.
Now the FI side of FIRE.... I agree they cut it closer than I would.... but most people here are saying they aren't retired (vs FI)... and seem to be focusing on their age, saying they haven't worked enough.
So - what is the magic age? I think we should decide and then put it in the FAQ's about ER thread.
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If they hadn't purchased that house with some of that $1 million they might have pulled early retirement off.
Work 2 more years and pay cash for a killer house. But no they saw a unicorn.
or probably going back to work was really part of the plan.
I say at any age below age 40 with 2 million free and clear to live off for life would qualify early retirement.
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06-03-2016, 11:12 AM
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#302
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2013
Location: Les Bois
Posts: 5,761
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didn't we have a pole about how early is early?
__________________
You can't be a retirement plan actuary without a retirement plan, otherwise you lose all credibility...
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06-03-2016, 11:12 AM
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#303
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Recycles dryer sheets
Join Date: Jul 2008
Location: Small town outside of Seattle
Posts: 444
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Quote:
Originally Posted by Fedup
Ask your self this question? If both of your boys want to retire at 20 do you agree with their decisions.
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I would be fine with it--if she had saved enough money by then to retire, hell she wouldn't be a bump. Your grandfather sounds like he inherited his fortune, the couple in this story earned their money, so it isn't a fair comparison.
I fully anticipate my daughter retiring early, she has seen me and her mom do it and even now at age 20 she has 4 years in her ROTH account and has learned to live off 75% of her take home pay. So given her young age and her living below means attitude I fully anticipate her to not be a bump but I have been pushing her to try and retire at age 40 and enjoy her life. But I have no idea at what age she plans on doing that. I am just thankful she has that attitude!
__________________
"There is only one success: to be able to spend your life in your own way.” ~Christopher Morley
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06-03-2016, 11:17 AM
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#304
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Recycles dryer sheets
Join Date: Jul 2008
Location: Small town outside of Seattle
Posts: 444
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Quote:
Originally Posted by purplesky
They lacked discipline.
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Okay now you are just trolling. Anyone who by that age has saved that amount of money doesn't lack discipline. Now you are being silly and/or sarcastic. Interesting that you haven't ever posted your numbers to allow us to see how disciplined you are. Mine are available if you do a search of my profile.
__________________
"There is only one success: to be able to spend your life in your own way.” ~Christopher Morley
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06-03-2016, 11:22 AM
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#305
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Moderator
Join Date: Apr 2012
Location: San Diego
Posts: 14,171
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My grade school bff's husband retired at 30 after selling a small tech startup for big bux. She continued to work because she chose to. They are a "split the bills" kind of household so she wasn't supporting him - he paid 1/2 of all expenses. They choose to live in a small cottage in the Berkeley hills rather than a larger house. They chose not to have kids. My friend retired, herself, a few years ago and now daytrades as a hobby.
He earned his money. He retired young. Was he too young? She earned her money - she retired youngish (sub 55)... was she early retired even though she retired 2 decades after her husband. He does stuff - just not for income and 100% on his own terms.
As far as my kids... I have no problem if they can fund themselves at age 20 and decide not to work for income anymore. I don't see it happening, but if it does - more power to them. I don't want them being dependent on anyone else (government, me) and if they can achieve it without a paid job - awesome. Too much to explore and see and do - they could surf around the world, they could volunteer and make a difference... as long as they aren't sponging off someone else - I'm good.
__________________
Retired June 2014. No longer an enginerd - now I'm just a nerd.
micro pensions 6%, rental income 20%
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06-03-2016, 11:27 AM
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#306
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Thinks s/he gets paid by the post
Join Date: May 2014
Location: Utrecht
Posts: 2,650
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Quote:
Originally Posted by papadad111
59.5 is the big cutoff for me -- no longer feeling very "early "- even government allows penalty free access to retirement money. So not early.
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The average retirement age in most OECD countries is between 58 and 73. USA is around 65.
So 59.5 is still earlier than most. FWIW ..
[Edit] Linky: http://www.oecd.org/els/emp/ageingan...retirement.htm
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06-03-2016, 11:32 AM
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#307
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Thinks s/he gets paid by the post
Join Date: Mar 2014
Location: Southern Cal
Posts: 4,032
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Quote:
Originally Posted by hakuna matata
I would be fine with it--if she had saved enough money by then to retire, hell she wouldn't be a bump. Your grandfather sounds like he inherited his fortune, the couple in this story earned their money, so it isn't a fair comparison.
I fully anticipate my daughter retiring early, she has seen me and her mom do it and even now at age 20 she has 4 years in her ROTH account and has learned to live off 75% of her take home pay. So given her young age and her living below means attitude I fully anticipate her to not be a bump but I have been pushing her to try and retire at age 40 and enjoy her life. But I have no idea at what age she plans on doing that. I am just thankful she has that attitude!
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I fully anticipate my daughters will work and earn lots of money, but then they will be like Warren Buffet, donate them. In fact one is already doing that.
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06-03-2016, 12:30 PM
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#308
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Thinks s/he gets paid by the post
Join Date: Feb 2014
Location: Syracuse
Posts: 3,501
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Quote:
Originally Posted by FUEGO
35. Old enough to be President of the US. Plenty of years of life to have stepped in dog poop, wiped it off, and lived to tell the story.
And I'm 35 so I want to make sure I'm over the cut off.
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Sorry, it ranges from 39 to 61. Wish people would start reading the rules memos.
__________________
“No, not rich. I am a poor man with money, which is not the same thing"
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06-03-2016, 12:31 PM
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#309
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Full time employment: Posting here.
Join Date: Sep 2014
Posts: 600
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Quote:
Originally Posted by hakuna matata
Okay now you are just trolling. Anyone who by that age has saved that amount of money doesn't lack discipline. Now you are being silly and/or sarcastic. Interesting that you haven't ever posted your numbers to allow us to see how disciplined you are. Mine are available if you do a search of my profile.
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Maybe if this couple had read "the millionaire next door" they would understand what real discipline is.
Discipline is working through those highs and lows everyone experiences in a working career.
If I decide to throw a blog out there I will show you my numbers.lol
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06-03-2016, 12:37 PM
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#310
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Dryer sheet aficionado
Join Date: Mar 2011
Location: New York
Posts: 44
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Quote:
Originally Posted by purplesky
Discipline is working through those highs and lows everyone experiences in a working career.
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But aren't they still in their working careers since they write a blog?
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06-03-2016, 12:41 PM
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#311
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,566
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https://youtu.be/lj60OAh7O5U
Cool Hand Luke, as always, has the answer.
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way
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06-03-2016, 12:58 PM
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#312
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Recycles dryer sheets
Join Date: Jul 2008
Location: Small town outside of Seattle
Posts: 444
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Quote:
Originally Posted by purplesky
Maybe if this couple had read "the millionaire next door" they would understand what real discipline is.
Discipline is working through those highs and lows everyone experiences in a working career.
If I decide to throw a blog out there I will show you my numbers.lol
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I am not really trying to bust your chops here...well not too much anyways.
But playing devils advocate here--aren't they much more disciplined then you (or me)? I assume you are in your late 40's or 50's? I am 56 now retired at 55. If I was as disciplined as this young couple I could have retired at a much younger age, and maybe you would be retired by now too! Maybe we better re-read that book!
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06-03-2016, 01:03 PM
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#313
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Thinks s/he gets paid by the post
Join Date: Jun 2010
Posts: 2,301
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Quote:
Originally Posted by JoeWras
But it was all hubris.
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You're just being polite right? The word I see thrown about in news stories is fraud. Although, I suppose hubris could be a powerful motivator for fraud.
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06-03-2016, 01:09 PM
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#314
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,008
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Quote:
Originally Posted by Fedup
Exactly. But more importantly, I think they give up on life. Ok fine that they don't like engineering, but do something that they like.
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Give up on life? Because they decided to change the way they live?
__________________
Retired since summer 1999.
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06-03-2016, 01:09 PM
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#315
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Full time employment: Posting here.
Join Date: Sep 2014
Posts: 600
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Quote:
Originally Posted by uncaD
But aren't they still in their working careers since they write a blog?
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No they sleep in a car.
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06-03-2016, 01:15 PM
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#316
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Dryer sheet aficionado
Join Date: Mar 2011
Location: New York
Posts: 44
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Quote:
Originally Posted by purplesky
No they sleep in a car.
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You mean when they're not sleeping in their $270k home that they own mortgage-free.
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06-03-2016, 01:17 PM
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#317
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Full time employment: Posting here.
Join Date: Sep 2014
Posts: 600
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Quote:
Originally Posted by hakuna matata
I am not really trying to bust your chops here...well not too much anyways.
But playing devils advocate here--aren't they much more disciplined then you (or me)? I assume you are in your late 40's or 50's? I am 56 now retired at 55. If I was as disciplined as this young couple I could have retired at a much younger age, and maybe you would be retired by now too! Maybe we better re-read that book!
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I like my job.
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06-03-2016, 01:21 PM
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#318
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Full time employment: Posting here.
Join Date: Sep 2014
Posts: 600
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Quote:
Originally Posted by uncaD
You mean when they're not sleeping in their $270k home that they own mortgage-free.
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On 25k. I'll pass
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06-03-2016, 01:25 PM
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#319
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Recycles dryer sheets
Join Date: Jul 2008
Location: Small town outside of Seattle
Posts: 444
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Quote:
Originally Posted by purplesky
I like my job.
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They didn't
__________________
"There is only one success: to be able to spend your life in your own way.” ~Christopher Morley
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06-03-2016, 01:26 PM
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#320
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Thinks s/he gets paid by the post
Join Date: Mar 2014
Location: Southern Cal
Posts: 4,032
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Quote:
Originally Posted by audreyh1
Give up on life? Because they decided to change the way they live?
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What do you call homeless people then? They also decided to change the way they live.
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