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Old 12-28-2010, 10:27 AM   #21
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That is a GREAT one! Will have to remember it for future use.

There is more than one kind of envy, though. We plan to relocate close to DW's family because we like the area, it is inexpensive and it is close to family that we (mostly) get along with. But every time we talk to DW's older sister I struggle to restrain the green-eyed monster when she casually mentions that DW's parents are watching the kid for her yet again.

Don't wave the red flag in front of the bull, have a good cover story, and everyone will likely simply assume you are floating on a sea of debt like everyone else.
I used to ask my wife, "How are all these people we know who work as grovery clerks driving new cars and going to Disneyland?"

Her answer-credit cards and parents.

Ha
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Old 12-28-2010, 10:31 AM   #22
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Yes, I think the OP is correct about what people think of retirees with income from pensions, SS, and/or investments. Any of those income sources inspire resentment.

Since I can't change that, I can honestly say that I really don't care what everyone thinks as long as they and the government keep their hands off my money.
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Old 12-28-2010, 10:44 AM   #23
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No intentions for any cover story. At 63 not may are upset at the leisure time I have. The ones that are, they can just stuff their jealousy.

From my perspective, arriving as a legal immigrant, started working right away at menial jobs, lack of English was a great hindrance. By the time language skills improved, Uncle Sam wanted his cut as a price of my green card.

Three years later, back in the labor market, trying to make a buck at various employers. Granted a lot of it was fun, but low pay. Having a masters in cheapskate by the age 15, continued saving, bought my first house at age 22 or 23 heck that was a while ago, which of course immediately made me house poor, etc. etc. etc..

Retired at 59.5. I earned it, owed it to myself, and am enjoying it to hilt.

The hacienda is well covered by Strum, Smith, Merlin and company. Besides it is a sleepy little town, with mostly like minded folks.

And to those who were and are busy living the high life, new cars, party hardy, expensive high maintenance trophy partners, fancy clothes in their youth and middle ages, by all means go ahead and keep up the good work.

I guess that does not show proper sympathy for the grasshoppers. Eh?
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Old 12-28-2010, 10:44 AM   #24
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I think some folks look at an ER'er like someone from a different planet. How the heck could someone pull it off and ER?

If questioned, I answer by..."live below your means, max out your 401K, IRA contributions, start at a young age, the magic of compounding..." they they get bored and say, "you must have been paid a really really high salary or hit it big in the stock market"
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Old 12-28-2010, 11:06 AM   #25
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Now that in Spain unemployment benefits will harder to get and legal retirement age will be established at 67, needing more than 35 years of effective working/paying SS and setting up longer working periods to establish the average pension (from 15 to 25 or more)....Iīll try to not let it be know than I am an ERedMore so, bearing in mind that there are 4,5 mill unemployed
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Old 12-28-2010, 11:24 AM   #26
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I may add some water to the moat...
If it gets really bad you can let loose the fire ants, snakes and scorpions.

We have a few friends and family that are aware of our intentions to retire at some point. My peers at work are not among them and it will remain that way. I have no intention of telling them about my FIRE/ESR plans even when I serve notice.

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Old 12-28-2010, 11:45 AM   #27
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needing more than 35 years of effective working/paying SS
Heck, I had 45 years in the workforce. Somebody has it too easy ...
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Old 12-28-2010, 11:53 AM   #28
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Nobody expresses any envy when they see me out in the rain and cold jumping around in the dumpster compressing the empty boxes the tenants throw in so they have more room for their trash. When I'm down south in the warm there are way too many people flaunting greater wealth than I, so no envy expressed there either.
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Old 12-28-2010, 12:02 PM   #29
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Heck, I had 45 years in the workforce. Somebody has it too easy ...
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Old 12-28-2010, 12:03 PM   #30
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I think you retired folks are being a bit paranoid.............most folks out there are too busy buying SUVs and taking overpriced vacations to worry about the guy down the street that seems to be home all the time........

I would just tell everyone you are unemployed, because, well, you are!!!
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Old 12-28-2010, 12:18 PM   #31
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.............most folks out there are too busy buying SUVs and taking overpriced vacations




I would just tell everyone you are unemployed, because, well, you are!!!
Very few SUV drivers and overpriced vacationeers around me.

With our enormous amount of unemployed, it would be an insult to them to consider myself one, even though technically and legally Iīve been laid off due to downsizing.
But of course, sadly, not all the unemployed are in my situation
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Old 12-28-2010, 12:18 PM   #32
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The Perfect Storm...

High unemployment
A struggling economy
Massive government debts
Massive unfunded entitlements
massive unfunded govment ( at all levels) pension/healtlhcare obligations
very poor retirement planning by many boomers
high personal debt of many boomers

yet taxes are some of the lowest historical levels ever

The conclusion is obvious in that you will pay much more taxes, and keep less of what you think is yours. Benefts you have been promised will get worse. Perhaps the taxes and benefit cuts will come directly. Or perhaps the hidden taxes and cuts will come via inflation.

yet in spite of that you'll be much much better off than those that the government will need to help.

This could get really ugly.
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Old 12-28-2010, 12:36 PM   #33
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Ah hah! Finally someone else who thinks like me.

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The conclusion is obvious in that you will pay much more taxes, and keep less of what you think is yours. Benefts you have been promised will get worse. Perhaps the taxes and benefit cuts will come directly. Or perhaps the hidden taxes and cuts will come via inflation.
Just wistful thinking there, my lady.

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... I really don't care what everyone thinks as long as they and the government keep their hands off my money.
Oh bother. No one talks about outright property confiscation or any violence here.

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The hacienda is well covered by Strum, Smith, Merlin and company.
OK, so none of us wants to have compassion or share with the grasshoppers. But there are ways to make you share, and it does not have to involve violence at all.

It so happens that I found the following in Otar's book that has been discussed in other threads.

Inflation is one of the most efficient ways of transferring wealth from those who derive their income from capital (most retirees) to those who derive their income from work. I have no doubt that the next generation, overburdened with the debt that our generation created, will be successful in bringing back inflation when the time is right for them.

So, inflation is a way for the younger generation to get back at us, the bastard baby boomers who screwed things up for them. Inflation is a way to make us share. And then, there will be SS means testing, and various other taxes.

As parents, when we ourselves talk about the younger generation, it is not a faceless class. How can we enjoy retirement putzing around when our kids labor hard to pay for our generation past excesses? We will have to share, not just with our own kids, but also other people's kids. But how about Mr. Vanatta of the OP article, who has nothing left to share? Who has the good laugh now, the ants who will have to share, simply because they have something to share, or the grasshoppers who are simply empty pocketed? How to squeeze blood from the proverbial turnip?

Oh, we all know how life is never fair. I don't know if it is my perennial pessimism, but whenever I find myself in a good situation, whether by luck or by my hard work, there is always a gotcha in there. Things may not be as good as we hope them to be.

All this talk makes me want to go out to get that quarter-million class A diesel while I still have the money to pay for it. What am I saving for, driving this used chintzy motor home?
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Old 12-28-2010, 12:49 PM   #34
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I post on another forum which has primarily people around 30. This story about the 100k worker with no savings generated a thread. One response was "Baby Boomers are the Selfish Generation". Multiple people had stories of parents or in laws who are classic spendthrifts. I'm more concerned about the attitude of young people toward retirees in general than I am about my peers' attitude toward my early out.
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Old 12-28-2010, 12:51 PM   #35
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As more threats of means tests have reared their ugly voice, I have been thinking a lot about my wage cohorts. You see, I don't mind sharing with those who have had less opportunity to save (but would rather not) but I get red faced when I share with my wage cohort who sent his children to private schools, indulged in a stay-at-home wife after the child care was not an issue, bought a new truck every couple of years, bought a bass boat, and never got around to that savings bit.
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Old 12-28-2010, 12:52 PM   #36
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Very few SUV drivers and overpriced vacationeers around me.

With our enormous amount of unemployed, it would be an insult to them to consider myself one, even though technically and legally Iīve been laid off due to downsizing.
But of course, sadly, not all the unemployed are in my situation
What's the price of gas in Spain, $9 a gallon? That's why..........
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Old 12-28-2010, 01:03 PM   #37
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I'm sure a lot of people at work were surprised when I retired at 62 during a period of high unemployment. NO one was quitting a secure job in I.T.

But like many of you, I saved a lot, invested wisely, and lived way below my salary level. We have a nice house, car etc. - but we don't spend needlessly. I like to cook. We don't go out a lot but can afford it when we do.

What I find odd is that people have this perception of baby boomers that we spend money all the time. I find that much more true of people in their 40s or younger. Maybe some of them are technically boomers, but if they are talking about ones who are close to retirement... I find out lifestyle is pretty typical.

The 45 and younger crowd (or maybe the 50 and younger?) go out a lot more, spend a lot on eating out and drinks, etc. Have a huge mortgage. And they don't save money, even with substantial incomes.

Obviously I'm generalizing but I saw it in action in I.T. where the pay scale is relatively generous.
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Old 12-28-2010, 01:05 PM   #38
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I post on another forum which has primarily people around 30. This story about the 100k worker with no savings generated a thread. One response was "Baby Boomers are the Selfish Generation". Multiple people had stories of parents or in laws who are classic spendthrifts. I'm more concerned about the attitude of young people toward retirees in general than I am about my peers' attitude toward my early out.
along those lines:

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Old 12-28-2010, 01:19 PM   #39
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Wow. Bitter much?
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But, even after everything, that isnít the part that earns them the title of ďThe Selfish Generation.Ē I donít mind they spent, and I donít mind they ran up a huge bill on the credit card. I donít even mind they left us a country with crumbling schools and a weak economy. That isnít the part that gets me.
What really matters in all of this is what theyíre saying now itís over, now theyíve done their damage.
Theyíre saying itís too late. Theyíre telling us we canít recover from this. Theyíre telling us we canít be strong and free and great again because they dug such a deep hole, out of which no one could possibly dig. I think theyíre wrong, and I think they shouldnít tell our generation we canít do something just because they canít do it themselves.
Theyíre also saying no. The Boomers are saying no to helping us fix the problems. After digging us a hole, theyíre refusing to do anything that will save us. They still wonít sacrifice for this country, even though they never did in the first place. They insist on every dollar due in their pensions and they raise hell over the idea of increasing the retirement age or reducing Social Security benefits.
But really, what matters is what they arenít saying. They arenít saying theyíre sorry. In all the things that have been said about who we are and where we are going as a country, the Boomers havenít said theyíre sorry. They havenít taken the blame for failing schools and broken homes. They havenít said Iím sorry for not investing in the future. They havenít said they could have done better. For them, it was always someone elseís fault.
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I'm more concerned about the attitude of young people toward retirees in general than I am about my peers' attitude toward my early out.
"Make room! Make room!"...
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Old 12-28-2010, 01:23 PM   #40
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Continuing to live a simpler frugal lifestyle helps. W Buffet looks from outside appearances to be comfortable. I have family and I won't disclose finances to any. They are free to make their choices, and have criticized us for our choices. I care for them but cannot afford to fund their higher spending habits. What is gained by "I told you so"?
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