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Re: Inspiration
Old 08-27-2004, 04:32 PM   #41
 
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Re: Inspiration

Hello Whisper! Good question.

I miss it all. But, I can not keep up the "pace" at my
age. It's sad in a way, but I accept that nature will
have its way with us regardless. So, I miss my
"high consumption" lifestyle, but realize I can no
longer support it. Hope that makes sense. As I posted
earlier today, I am quite sure I would continue on
if I had the money and the energy. Alas, I have neither.

John Galt
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Re: Inspiration
Old 08-27-2004, 09:03 PM   #42
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Re: Inspiration

Quote:
Hello Whisper! *Good question.

I miss it all. *But, I can not keep up the "pace" at my
age. *It's sad in a way, but I accept that nature will
have its way with us regardless. *So, I miss my
"high consumption" *lifestyle, but realize I can no
longer support it. *Hope that makes sense. *As I posted
earlier today, I am quite sure I would continue on
if I had the money and the energy. *Alas, I have neither.

John Galt
You sound a little "wistful" to say the least. Here's yet another question: could it possibly be more than simply the lifestyle that you miss? In other words, don't you think that it could have been simply some key, core things that you actually miss that actually have little to do with status, income, possessions and the like?
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: Inspiration
Old 08-28-2004, 04:30 AM   #43
 
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: Inspiration

I am a little "wistful" and I think it is very true that I lost a lot more than the high profile/high consumption
lifestyle which I lived for quite a long time. I didn't
see most of this except with hindsight (as with so much
of life). Anyway, it's a good thing I knew I must ER.
Spending your time regretting past decisions is
not useful.

John Galt
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Re: Inspiration
Old 08-28-2004, 05:52 AM   #44
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Re: Inspiration

Whisper 9999 started this thread by asking what motivated us through the long years of preparation for early retirement – years of saving, years of deferred gratification, years of seeing peers with more stuff and lifestyle.

I think its a great question, and it has taken me several days of pondering to figure out my answer, so its a bit late.

My answer is slightly different than others, in that I did not ‘save my way’ to ER, but rather chose to ‘earn my way’ to ER. Terhorsts gave me the vision and roadmap, but Joe Dominguez' YMOYL-style privation was never our path. We bought what we needed and just sought to earn more, through taking more risk, working harder and smarter, starting companies, investing carefully in risky asset classes.

But the motivation was always around ‘Freedom’. I held vivid images for 15 years of escaping prison, escaping the humiliation of bosses and employers, and once I was the boss in my own firms, vivid images of ‘graduation’ to a new level where I would have all the time in the world to be with my kids, to not take business trips, to take exercise classes, to hang out with friends or have lunch with my wife. I though a lot about the old style indentured servitude by which some of our ancestors came to this country and worked for years to pay off their passage debt and were finally free, though in that case just free to work for themselves without a debt, not Financially Independent free.

Once I had a firm image of freedom from the indignities of having to make a monthly sales quota or a quarterly revenue projection or leave my family on a Sunday afternoon to make it to Dallas for a Monday morning meeting, then spending just what we needed was pretty easy to manage. (Be warned, however, that ‘the basics’ for us may be different than the norm as we spend about 4x the average for this board on our annual expenses.)

It took 15 years but we made it.

We haven't dropped out lifestyle spending much, though we do spend less than our peers through savvy tricks to keep a similar or frankly better lifestyle. (we also have more time to do more fun things together that don't necessarily cost much). However, in the interests of full disclosure, we do rely on a bit of part-time work income to close the gap between a 4% SWR and our annual spending, and afford things like our property taxes (while the kids are in school - 8 more years), our 37 ft bluewater cruising sailboat and this summer's 3 weeks in France (with a week renting a self-hire barge and putting through Burgundy) It's a tradeoff that works for us.

ESRBob
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Re: Inspiration
Old 08-28-2004, 08:43 AM   #45
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Re: Inspiration

Quote:
Whisper 9999 started this thread by asking what motivated us through the long years of preparation for early retirement – years *of saving, years of deferred gratification, years of seeing *peers with more stuff and lifestyle.

I think its a great question, and it has taken me several days of pondering to figure out my answer, so its a bit late.

My answer is slightly different than others, in that I did not ‘save my way’ to ER, but rather chose to ‘earn my way’ to ER. *Terhorsts gave me the vision and roadmap, but Joe Dominguez' YMOYL-style privation was never our path. *We bought what we needed and just sought to earn more, through taking more risk, working harder and smarter, starting companies, investing carefully in risky asset classes.

But the motivation was always around ‘Freedom’. *I held vivid images for 15 years of escaping prison, escaping the humiliation of bosses and employers, and once I was the boss in my own firms, vivid images of ‘graduation’ to a new level where I would have all the time in the world to be with my kids, to not take business trips, to take exercise classes, to hang out with friends or have lunch with my wife. *I though a lot about the old style *indentured servitude by which some of our ancestors came to this country and worked for years to pay off their passage debt and were finally free, though in that case just free to work for themselves without a debt, not Financially Independent free.

Once I had a firm image of freedom from the indignities of having to make a monthly sales quota or a quarterly revenue projection or leave my family on a Sunday afternoon to make it to Dallas for a Monday morning meeting, then spending just what we needed was pretty easy to manage. *(Be warned, however, that ‘the basics’ for us may be different than the norm as we spend about 4x the average for this board on our annual expenses.)

It took 15 years but we made it. *

We haven't dropped out lifestyle spending much, though we do spend less than our peers through savvy tricks to keep a similar or frankly better lifestyle. *(we also have more time to do more fun things together that don't necessarily cost much). *However, in the interests of full disclosure, we do rely on a bit of part-time work income to close the gap between a 4% SWR and our annual spending, and afford things like our property taxes (while the kids are in school - 8 more years), our 37 ft bluewater cruising sailboat and this summer's 3 weeks in France (with a week renting a self-hire barge and putting through Burgundy) *It's a tradeoff that works for us.

ESRBob
Thx for the story. Another great example.

What you wrote here really hit me:

"I though a lot about the old style indentured servitude by which some of our ancestors came to this country and worked for years to pay off their passage debt and were finally free."

It's strange that most Americans don't see that. Essentially you're an "indentured servant" quite often either working for low wages or long hours to the company. That's not always true, but very often. It's just strange that most people don't think of the fact that they need to break out of this servitude. Why stay indentured all your life??

'Nuther question: what is "&#8216" and "#8217". I get the gyst of it from context, but it sounds like some formal "doctrine" that I"m missing...
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Re: : Inspiration
Old 08-28-2004, 08:45 AM   #46
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Re: : Inspiration

Quote:
I am a little "wistful" and I think it is very true that I lost a lot more than the high profile/high consumption
lifestyle which I lived for quite a long time. *I didn't
see most of this except with hindsight (as with so much
of life). *Anyway, it's a good thing I knew I must ER.
Spending your time regretting past decisions is
not useful.

John Galt
Hope you find a way out of some of your health issues. Sounds like that's a major concern based on some of your posts.
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Re: Inspiration
Old 08-28-2004, 12:59 PM   #47
 
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Re: Inspiration

Well, thanks Whisper. The health issues are a problem for sure. Not sure how this will all shake out, although
we all know the eventual outcome. Anyway, the irony
of retiring early partly due to worries about my health, and
then having a bunch of stuff dumped on me by the fates
is interesting. Sort of a self fulfilling prophesy?

John Galt
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Re: Inspiration
Old 08-28-2004, 03:44 PM   #48
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Re: Inspiration

I've been having health issues lately, too, and I'm only 51. AND I haven't retired yet!

My father semi-retired at 52 and was completely out by 55. He did not really like his work much. A Depression baby, he saved and saved and was always very frugal. He was diagnosed with cancer at 67, and died at 69. I've always thought, WHAT if he had retired at 65? To have only 2 years? I've always been grateful that his life included the fuller, richer, easier years that were the payoff for so much hard work.

John, I join Whisper in hoping for the best possible outcome. I'm glad you're retired, too; I don't think it's a self-fulfiling prophesy at all. Maybe if you hated retirement, it could influence your health adversely. But I hope you have many good retired years in you yet!

Anne
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Re: Inspiration
Old 08-28-2004, 04:29 PM   #49
 
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Re: Inspiration

Thanks Anne! That is by far the nicest thing anyone has
said to me today. Much appreciated. I'm not complaining as my life has been pretty amazing so far.
I recall once I was applying for a part time job.
This was about
10 years go. They said to me "Wow, you've had quite a life!" I said, "Yep, and it's not over yet!"

John Galt
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Re: Inspiration
Old 08-28-2004, 08:30 PM   #50
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Re: Inspiration

You are very welcome. BTW, your advice (and everyone else's) will be sought on Investment Strategies.

Take good care of yourself!

Anne
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"Real" quotes
Old 08-28-2004, 10:01 PM   #51
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Quote:
'Nuther question: *what is "&#8216" and "#8217". *I get the gyst of it from context, but it sounds like some formal "doctrine" that I"m missing...
That's what you get when you use "real" left/right-oriented quotes in a word processor (instead of the " default) and then cut/paste the text into a post.
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