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Old 10-03-2013, 04:07 PM   #21
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Originally Posted by W2R View Post
With good, thorough, "bulletproof" planning, I just don't see it as being irresponsible at all.

As long as you know that you will never have to leach off of others, I don't think retiring early would be in the least bit irresponsible. If moving into one's parents' basement and dropping into their dining room at dinnertime is Plan B, then I think his point might be worth considering.

LOL. Classic imagery. I agree that irresponsible is possibly the wrong word. Risky, yes, irresponsible; not so much.

Originally Posted by WestLake View Post
It's irresponsible not to save and plan for retirement many years in advance.
Oh yes. I have been planning since I was 20. My friends thought I was nuts. 18 years later: here I am with FI and a plan(s).

Originally Posted by FIREd View Post
Like others, I feel that the word "irresponsible" is used inappropriately here (I might feel differently if I had a family to support). Is retiring early risky? absolutely. I've been out of the workforce for several years now and I know that it would be all but impossible for me to go back to my old, good paying career (which was never secure). That's a fact, and one that should not be minimized. I took a chance and there is no going back. Maybe it'll blow up in my face down the road and I'll have to deal with the consequences of my decision. But that's what taking risk is all about.
Really? We have two young children (4 and 6yo) and I have not thought our decision irresponsible, rather an investment in our children to have a mum and dad around to help them learn and see the world.

I think there is risk in everything; that is life. There are so many variables that I think with well thought out planning and afew backups there is a choice to live in fear of what could happen or ride life's bumpy road and relish the experience, whatever it may be.

I figure that we started with nothing and built our portfolio; the worst financial thing that can happen is that we start again and go back to work. This happens everyday because people older than us have to work due to having a zero net worth. It would not be ideal, but we could cope. (albeit kicking and screaming...)

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Old 10-08-2013, 12:18 PM   #22
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I have no problem with the article's point to think long & hard about ER if you are at all marginal in your finances. In present economy there are so many good, well-qualified folks looking for j#bs in most areas that companies usu have their pick from solid applicant pool without having to take chances on folks with (in HR's view) "ER remorse". Leaving a good-paying career "early" (vs taking few mo break) is usually a 1-way ticket for most professions (inc. modern medicine, at least in the US). So leaving in your 40's (or mid-50's) prob is indeed "irresponsible" if you don't have an unusually generous nest egg for dealing with the uncertainties of a 40+yr retirement.

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Old 10-08-2013, 05:01 PM   #23
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Originally Posted by easysurfer View Post
Never underestimate the joy of dawdling around doing nothing

That and planning where others fail to grasp the obvious before they die is what makes me feel like a king.

King of FIRE. ( cue up some Johnny Cash please! )
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Old 10-08-2013, 08:44 PM   #24
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Originally Posted by haha View Post
This is a subtle point. I think generally we kid ourselves about how we will diagnose failure early, and move to correct it either by going back to work or other means. ...

Agreed. If we react to every little downturn, we will likely be back to work or cutting spending drastically only to see everything recover in the next year are so. It wouldn't be much of a retirement. Look at the recent 2008 plummet - how many went back to work, or cut spending drastically ( I mean 50% or so, something significant)? Would have been smart if the recovery didn't show up, would have been a waste of our best years to work or cut when it turned out the market did recover. But how would you know this in advance?

When a human strongly wants some behavior, and wants to at least to pretend to being rational about it, he will very often allow only a truncated set of possible future states. ...
It's human nature, and it's interesting to observe this in others. I imagine we all have trouble seeing it in ourselves!

The other thing I am not so sure about is this idea that if you don't crap out early, you are OK. I'm approaching 30 years, and it still seems to me that a number of very negative events could make my continue pleasant retirement a question mark at best.
Yep. Even though this seems to be the case with the historical failures, I imagine it's just a matter of typical business cycles. And if you run a 45 year profile, a 40 year, a 35, 30, or 25 year, the same thing applies. Are we ever safe? The future may be a very long drawn out loss in buying power, rather than a big cliff.

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Old 10-09-2013, 06:30 AM   #25
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Uncertain times indeed. One should never retire in uncertain times. However who can tell me when we had certain risk free times?
"What's the worst thing that could happen - I keep my job."
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Old 10-09-2013, 06:50 AM   #26
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Originally Posted by foxfirev5 View Post
Uncertain times indeed. One should never retire in uncertain times. However who can tell me when we had certain risk free times?
I retired at the end of October, 2008, when the market was in free-fall. I was able to take advantage of this by being able to buy at very low prices, mainly into a bond mutual fund whose price was greatly depressed. I bought about 25% more shares than I had originally planned in my ER spreadsheet while being able to liquidate my shares of company stock while they were still pretty high. The end result of his is that my ER finances have been better than I had originally planned, not that I'd have trouble covering my expenses with a sufficient cushion anyway.

Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
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