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03-21-2006, 09:05 AM
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#21
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Recycles dryer sheets
Join Date: Dec 2005
Posts: 388
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Re: Risk/Reward of ER
I love that poem! *I keep coming back to it over and over. *In part, it is the philosophy that caused me to chuck it all and ER.
setab
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I told you I'd taunt you a second time.
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03-21-2006, 10:30 AM
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#22
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Dryer sheet aficionado
Join Date: Feb 2006
Posts: 42
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Re: Risk/Reward of ER
Thanks to everyone who posted their thoughts on this thread. Now in my 50’s, I look back on my 20’s and wonder what would have happened if only… Now I wonder what I will think when in my 70’s I look back at my 50’s. I can’t imagine that I will regret ER no matter what the outcome.
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03-21-2006, 11:58 AM
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#23
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,859
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Re: Risk/Reward of ER
 Quote:
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Originally Posted by AFloat
Now in my 50’s, I look back on my 20’s and wonder what would have happened if only… Now I wonder what I will think when in my 70’s I look back at my 50’s.
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If I was 20 again and knowing what I know now, I'm not sure that my body would have endured to my 30s...
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Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
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03-21-2006, 12:32 PM
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#24
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
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Re: Risk/Reward of ER
I'd have the same concerns. As it was, nobody was more surprised than me to wake up on my 30th birthday.
Whenever I go back east and randomly run into someone I havent seen for 10-20 years, I always get one of the same two lines:
"I heard you were dead"
"I'm surprised your not dead"
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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03-21-2006, 01:54 PM
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#25
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Location: Alexandria, Va
Posts: 1,053
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Re: Risk/Reward of ER
Hi Afloat,
Very well put. I saw my parents save their whole lives, and the FIRE'd 12 years ago at age 57. I want to be like them, but FIRE at 52. My dad (who takes care of the finances) is very risk averse, and although I didn't at the time know how much they retired with, I knew they wouldn't do it unless they were SURE they'd be OK.
We have longevity on both sides of my family - late 80s to mid-90s for my grandparents, so the risk of running out of money feels high.
Although I have been saving since I started working, several things in the last few years have solidified my desire to enjoy my life as much as possible, and convinced me to FIRE as soon as I can - a friend of mine died of leukemia at 42, and I wrecked my car but walked away unscathed. Both events made me think hard about choices in life.
That, plus I see how much fun my parents are having in retirement! They are two of the most active and busy people I know, and they love it.
Karen
(whose parents are on their way from FL to their home in NH now that winter is winding down)
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Two roads diverged in a wood, and I - I took the one less travelled by...
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03-21-2006, 02:14 PM
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#26
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 3,895
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Re: Risk/Reward of ER
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Originally Posted by AFloat
what if you get a major medical problem or you or your family has a financial tragedy that’s going to eat up a big portion of your savings.
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i gave medical maybe too quick a thought. i figured anything that could wipe me out financially now could have wipe me out while i was working too. fortunately, having given it such little thought, it was by default a no brainer.
__________________
"off with their heads"~~dr. joseph-ignace guillotin
"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
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