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Real Life Case of ER at BH Forum
Old 07-30-2015, 03:01 PM   #1
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Real Life Case of ER at BH Forum

There is a current treat about importance of ER at BH forum. I think it is worth reading.

"I feel that there is a significant segment of people who post here who, IMHO, are overly obsessed with making money and planning for a future that they cannot control. You can spend your life from age 18 predominantly dedicated to making sure you don't run out of money when you are 100. You can postpone joy indefinitely and just hope you are healthy enough down the road to enjoy your bundle. Or you can live the way you want to live today, staying well within your means, try to save if you can, enjoy your life, just not sweat it....knowing you might run out of money at 95, but on the other hand you might die at 40 or 50 or 60 or tomorrow, and some things just cannot be controlled."

https://www.bogleheads.org/forum/vie...ewpost=2571493
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Old 07-30-2015, 03:04 PM   #2
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I liked his story. Thanks for sharing that with us. Interesting, and always good to remember we don't get a guaranteed ticket!
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Old 07-30-2015, 03:55 PM   #3
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+1

We've had a few discussions here about/with 20 year olds who may be missing a good part of "life" in order to RE at 45 or 50.

I"m all for LBYM but at 25, RE (or even R) was not on my radar.

Did lots of stuff that I'll never regret and I always feel a bit of sadness when I read from some 23 y.o. who is planning to skip that trip to Paris with her friends (here we go again!) so that when she's 50 she can go at that point.

IMO, life is for living, not overly preparing for a retirement that--for any number of reasons--may not even become reality.

We have another thread running right now from a Dad who's worried that if his daughter can't land her first job soon, she won't be able to RE. I just see that as focusing on the wrong end of the life journey.
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Old 07-30-2015, 03:56 PM   #4
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Great Post ! You never know what life holds for you .
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Old 07-30-2015, 04:39 PM   #5
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Great Post ! You never know what life holds for you .
+1.

Thanks to the OP for sharing.
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Old 07-30-2015, 04:44 PM   #6
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I always feel a bit of sadness when I read from some 23 y.o. who is planning to skip that trip to Paris with her friends (here we go again!) so that when she's 50 she can go at that point.
To play devil's advocate, too many 23 y.o. take the trip to Paris that can't afford it using the YOLO philosophy and will never retire at 60, much less 50.
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Old 07-30-2015, 04:46 PM   #7
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I agree-great post! Even though I have retired, I still keep putting off things I would like to do, for one reason or another. I need to quit doing that, because there are no guarantees.
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Old 07-30-2015, 04:49 PM   #8
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Yes, thanks for sharing.
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Old 07-30-2015, 05:00 PM   #9
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He appeared not to have had any risk factors currently. I am just wandering if as a hippie he experimented with drugs. My understanding is that past or current drug use especially cocaine can harden the arteries and carry a high risk for heart attacks. Of course, that may not be the case at all. Just a wondering mind.


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Old 07-30-2015, 05:57 PM   #10
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I agree-great post! Even though I have retired, I still keep putting off things I would like to do, for one reason or another. I need to quit doing that, because there are no guarantees.

Ah, the joys of delayed gratification. I almost bought an iphone 5 today and upgraded from a dumb phone and tack on an additional $10 monthly fee for the plan. But I reversed course and spent $3 on Amazon for a new phone cover instead.... Maybe this winter......


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Old 07-30-2015, 08:12 PM   #11
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Health is not the only reason not to put things off. Even your health cannot keep you from accidents. About a month ago DW and I lost a good friend, a great woman, 61 but looked 20 years younger, killer figure (still would wear miniskirts occasionally because, in her words, "it gets hubby hot, and I like that!"). Her husband had retired a couple of years ago, and she planned within a year. Then, driving home on a clear evening, less than a mile from her home, someone under the influence runs a red light and she is gone in an instant.

With things like that, even though I have not yet ER'ed, I have gotten a lot more easier - still LBYM, but not nearly as extreme as before. And I am learning to value time - how I spend it, and whom I spend it with - above all else.
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Old 07-30-2015, 09:06 PM   #12
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Howard Hughes is supposed to have said "Anybody who thinks money is more valuable than time needs to talk to a rich old man."
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Old 07-30-2015, 11:21 PM   #13
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I don't find that early retirement, enjoying life and planning in case we do live past 100 are mutually exclusive objectives. I wouldn't enjoy retirement if my spending was too high compared to my income and I had to worry about running out of money.
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Old 07-31-2015, 12:09 AM   #14
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DW and I ER'd this year. We LBYM but enjoyed a very comfortable lifestyle before ER since we had good professional-level incomes and no kids. Now our ER is still comfortable, but perhaps a step below my "dream" retirement filled with toys-for-boys and half-year snowbird winter escapes. Still, only 6 months in, I'm loving the freedom of ER and never want to return to my old life. The word "joy" is beginning to enter into my vocabulary!

Like many here, I'm a planner and worrier. Well, this is part of what got me to ER. Still, I realize that at some point my planning drifts into an obsession with the desire to pretend to control the inherently uncontrollable. It's comforting to be able to squeeze out a few percentage points of simulated financial success in Firecalc since this distracts me from that which is know is largely out of my control: tragic accidents, cancer, and death itself.

I'm gradually learning to say "Enough", and continue on living. "Enough" is a mindset as much as a level of assets. The state of "enough" is also a commitment and practice, of which ER is a giant step.

(Credit goes to author Brene Brown for encouraging my thoughts about "Enough")
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Old 07-31-2015, 01:29 AM   #15
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Excellent BH post. It points out the potential downside of delaying "life" to become ever more financially "secure." I like (someone's here) tag line: Moderation in all things - including moderation. Words to live by, but YMMV.
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Old 07-31-2015, 02:04 AM   #16
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I'm gradually learning to say "Enough", and continue on living. "Enough" is a mindset as much as a level of assets. The state of "enough" is also a commitment and practice, of which ER is a giant step.

(Credit goes to author Brene Brown for encouraging my thoughts about "Enough")

+1. Like the concept of "enough". Thanks for sharing.


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Old 07-31-2015, 04:36 AM   #17
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Love Brene Brown. And the concept of "enough", which I, like many, was first introduced to by Joe Domininguez in Your Money or Your Life.
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Real Life Case of ER at BH Forum
Old 07-31-2015, 10:26 AM   #18
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Real Life Case of ER at BH Forum

Quote:
Originally Posted by Koolau View Post
Excellent BH post. It points out the potential downside of delaying "life" to become ever more financially "secure." I like (someone's here) tag line: Moderation in all things - including moderation. Words to live by, but YMMV.

And then you have people like my dad. Pushing 80 and wont spend much on himself. I tried last year to get him to spend some stating "its just going to get divvied up and blown by all the kids." His reply was, "I hope you all enjoy spending it as much as I have enjoyed saving it". I haven't brought it up since.


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Old 07-31-2015, 10:30 AM   #19
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To play devil's advocate, too many 23 y.o. take the trip to Paris that can't afford it using the YOLO philosophy and will never retire at 60, much less 50.
True, but we also all have stories of friends and relatives who died at 45 and never went anywhere.

As we've discussed before, if the difference between retiring at 50 vs never is the $2-3K you recklessly spent 30 or 40 years ago, there's likely a lot more going on.

"...if only I hadn't spent that $2K on X back in 1982 I could retire now..." ummmmmm.
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Old 07-31-2015, 10:40 AM   #20
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Love Brene Brown. And the concept of "enough", which I, like many, was first introduced to by Joe Domininguez in Your Money or Your Life.
I am also a big fan of Your Money of Your Life. Plus I found the book What Happy People Know helpful, especially this specific quote:

"No matter how much money people have, almost all of us want just a little bit more. But it never makes us happier. This is the failure of success."

I do think many of us have been conditioned by advertising so much that there is a disconnect between what we spend money on and what science shows really makes us happy. After a certain level of financial security, many of the things that make people happy are actually not costly - being out in nature, bonding with a pet, family and social connections, helping others, being a part of the community and having leisure time to pursue hobbies and express creativity.
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