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Re: Social Status of Early Retirees
Old 05-15-2005, 10:20 PM   #21
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Re: Social Status of Early Retirees

Occupation (retired middle school) 69th

Education 97th

Income (retirement) 69th

Wealth 93rd

Average 82
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Re: Social Status of Early Retirees
Old 05-16-2005, 03:53 AM   #22
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Re: Social Status of Early Retirees

Quote:
Originally Posted by ESRBob
Lex,
Hilarious post --* recognize the neighborhood (visited a friend in one of those Phoenix hillside suburbs once--gorgeous area) and having neighbors with hummers and McMonuments to debt and consumption.

The Times article was intriguing but ultimately flawed I felt because it didn't get to the heart of what 'arriving' or class is in America.* Does anyone else feel that someone stuck in full-time consume/debt/work mode is in some ways lower on the status scale than someone who does not have to work, just due to their time not being their own?* Being able to consume leisure is a huge status thing,* in my view.* One bit of supporting evidence* is to see how high status families who can afford it opt to have Mom (usually it is the Mom) stop paid work and become a fulltime homemaker.* (1/3 of women with MBAs do not work full time),* This gives credence to the view that leisure as a form of status is valid beyond just a bunch of ERs feeling we are at the top of the heap.* (Thorstein Veblen talked about this explicitly, too, in Theory of the Leisure Class, 100 years ago, claiming that consuming leisure as a sign of high status was valid back to the bushmen.)

In a perfect world none of us would care about status, but we are also wired up as social beings and it gives me comfort as an ER to think of somehow having status without having to work all those hours for it.* 8)
Hello ESRbob! Yeah, I recognized the neighborhood too. This is one of your better posts BTW. IMHO.

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Re: Social Status of Early Retirees
Old 05-16-2005, 07:19 AM   #23
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Re: Social Status of Early Retirees

Not yet FIRE...

Occupation 56
Education 91
Income 88
Wealth 85

Aggregate 80
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Re: Social Status of Early Retirees
Old 05-16-2005, 07:25 AM   #24
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Re: Social Status of Early Retirees

For ERs, arn't the only important ones current income and wealth now? Perhaps only wealth. For me it is 69 and 98 respectively.

My total before I RE'd and was working was: 92%

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Re: Social Status of Early Retirees
Old 05-16-2005, 07:42 AM   #25
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Re: Social Status of Early Retirees

Last night watched a documentary on return to flight efforts for the Space Shuttle and felt no twinges, regret, that I wasn't back in there - engineering wise.

This morning on the back deck with the Golden drinking coffee -waaay across the lake could see the poor commuters driving in for Monday morning.

Life is good.

Your health and a reasonable stash to make it till you croak.

Social Status - We don't need no stinking social status!!

Heh, heh, heh, heh. Might have another cup of coffee - experimenting with Dory's cold brewed - I put to soaking last night.
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Re: Social Status of Early Retirees
Old 05-16-2005, 11:49 AM   #26
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Re: Social Status of Early Retirees

Quote:
Originally Posted by laurencewill
Occupation 65
Education 91
Income 84
Wealth 85

Well!* It looks like the Education didn't help the occupation too much!* We computer dudes are still getting the shaft in status from the "old money" occupations.*

The last number is all that counts to me!*
Call yourself a "Data Base Administrator" or a "Computer Systems Administator" -- at 83, they both outrank everything except doctors and lawyers. <grin>

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Re: Social Status of Early Retirees
Old 05-16-2005, 01:00 PM   #27
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Re: Social Status of Early Retirees

Occupation: 71
Education: 91
Income: 93
Wealth: 93

Average: 87

Personally I don't think these numbers can be a true indication of status. From general observation it would seem a lot more people have more than I do. A lot more.
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Re: Social Status of Early Retirees
Old 05-16-2005, 01:18 PM   #28
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Re: Social Status of Early Retirees

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Originally Posted by JRB
Personally I don't think these numbers can be a true indication of status. From general observation it would seem a lot more people have more than I do. A lot more.
This is pretty much the same conclusion that I would draw.
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Re: Social Status of Early Retirees
Old 05-16-2005, 01:21 PM   #29
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Re: Social Status of Early Retirees

I third that...

Since I have almost zero debt besides a mortgage, and am saving around 25% of pay, in the end I'll be the "winner".
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Re: Social Status of Early Retirees
Old 05-16-2005, 01:24 PM   #30
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Re: Social Status of Early Retirees

Interesting-- I searched all the categories and couldn't find anything remotely related to "military". *So I picked nuclear engineer, which dragged the average waaaaay down. *Please correct me if military is in there somewhere and would drag it down further.

Occupation: *68
Education: *97
Income: *94
Wealth: *98
AVG: *89

It never fails to amaze me-- journalists "research" and write huge articles where they're shocked to discover that the rich get richer and the poor get poorer. *Gee, maybe they're correlated!

Quote:
Originally Posted by ESRBob
1/3 of women with MBAs do not work full time
Is there any remaining doubt that women really are smarter?
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Re: Social Status of Early Retirees
Old 05-16-2005, 01:38 PM   #31
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Re: Social Status of Early Retirees


Occupation: 81
Education: 75
Income: 78
Wealth: 85
AVG: 80

I used my present occupation, but input my estimated ER Pension. I didn't see a realistic occupation. "Paid to do Nothing" would seem to be appropriate, was some version of retirement hiding in there and I missed it?
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Re: Social Status of Early Retirees
Old 05-16-2005, 02:11 PM   #32
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Re: Social Status of Early Retirees

Quote:
Originally Posted by JonnyM
... "Paid to do Nothing" would seem to be appropriate, was some version of retirement hiding in there and I missed it?
That's kind of occupation that I desire.

Spanky
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Re: Social Status of Early Retirees
Old 05-16-2005, 03:04 PM   #33
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Re: Social Status of Early Retirees

I have a relative that is a doctor and I happen to know how much money her family makes and how much they have in savings. They have a LOT less saved than we do and will probably need to work to age 65 at least. Nevertheless, beats me in the social status race. The power of getting the 99% occupation status for doctors.

Blood is important. I know some old wealth families. They move in different circles from us and it takes about two seconds of a discussion to know they are somehow different. One family I know lives in an old mansion on a lake in the twin cities. Has millions of dollars in inherited wealth. Family spends all its time in charitable pursuits. I have been in their house. Probably haven't bought a new thing for the house in 60 years.

People try to buy social status with acquiring stuff. I think they might be successful in some circles. After all, if nearly everyone but the very poor have a car and tv, you only distinguish yourself through your mercedes and plasma tv.
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Re: Social Status of Early Retirees
Old 05-16-2005, 04:58 PM   #34
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Re: Social Status of Early Retirees

Quote:
Originally Posted by Nords
Interesting-- I searched all the categories and couldn't find anything remotely related to "military". *So I picked nuclear engineer, which dragged the average waaaaay down. *Please correct me if military is in there somewhere and would drag it down further.

Occupation: *68
Education: *97
Income: *94
Wealth: *98
AVG: *89
If you are well-educated and have a high income and net worth, the only thing that wouldn't bring the average down is claiming you're a doctor.

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Re: Social Status of Early Retirees
Old 05-16-2005, 06:02 PM   #35
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Re: Social Status of Early Retirees

All:

If you are ER'ed, enjoy life to the fullest, have your health and energy, (by stopping off the tread mill early) spend quality time with family, travel, and are at the top of Maslov's pyramid as to personal motivaing energy, you do not require a* New York times article to verify that you are at 100.

Its how well you live by leveraging what you have. Anything else is accounting for its own sake.
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Re: Social Status of Early Retirees
Old 05-16-2005, 10:51 PM   #36
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Re: Social Status of Early Retirees

Quote:
Originally Posted by LEX
All:

If you are ER'ed, enjoy life to the fullest, have your health and energy, (by stopping off the tread mill early) spend quality time with family, travel, and are at the top of Maslov's pyramid as to personal motivaing energy, you do not require a New York times article to verify that you are at 100.
Lex,
Well put. I feel like 100, even though we keep our cars 10 years and I look kinda scruffy when I go out some days.
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Re: Social Status of Early Retirees
Old 05-17-2005, 12:09 AM   #37
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Re: Social Status of Early Retirees

Quote:
"Paid to do Nothing" would seem to be appropriate, was some version of retirement hiding in there and I missed it?
Quote:
Originally Posted by Spanky
That's kind of occupation that I desire.
Spanky
That's what I was doing for the last 4 years before theyfinally laid me off several weeks ago.

It was about time.

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Re: Social Status of Early Retirees
Old 05-17-2005, 06:06 AM   #38
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Re: Social Status of Early Retirees

Quote:
Originally Posted by Martha
I have a relative that is a doctor and I happen to know how much money her* family makes and how much they have in savings.* They have a LOT less saved than we do and will probably need to work to age 65 at least.* Nevertheless, beats me in the social status race.* The power of getting the 99% occupation status for doctors.

Blood is important.* I know some old wealth families.* They move in different circles from us and it takes about two seconds of a discussion to know they are somehow different.* One family I know lives in an old mansion on a lake in the twin cities.* Has millions of dollars in inherited wealth.* Family spends all its time in charitable pursuits.* I have been in their house.* Probably haven't bought a new thing for the house in 60 years.*

People try to buy social status with acquiring stuff.* I think they might be successful in some circles.* After all, if nearly everyone but the very poor have a car and tv, you only distinguish yourself through your mercedes and* plasma tv.
Another thing about ER I didn't fully research (it's a long list folks)
After I ran my first company (1977) until I semiretired in 1993, I mostly
mingled with what is perceived as the cream of society, expecially
when I was doing my thing in smaller venues (big fish in a small pond).
But, we had all of the trappings and spent money like water.
coincident with semiretirement in 1993
I recognized that we were no longer able to be "The Jones". In some
ways that may have been a self-fulfilling prophecy. In any case,
very few of my circle of friends here are left from my livin' large days.
I was hoping after we were all retired we could reconnect.
Didn't happen. I regret it. Not sure what I could have done
differently.

JG
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Re: Social Status of Early Retirees
Old 05-17-2005, 08:23 AM   #39
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Re: Social Status of Early Retirees

Quote:
I have a relative that is a doctor and I happen to know how much money her family makes and how much they have in savings.
My brother is an internist. He does not have much saving at all.

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Re: Social Status of Early Retirees
Old 05-17-2005, 10:40 AM   #40
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Re: Social Status of Early Retirees

My wife is a Doctor, though she bailed out of full time adult responsibility before I did. She will "consult" for a few friends as a cover when they are on vacation (substitute doctor?) Any way she's from eastern europe and very very frugal (Doctors back there are not Rock stars, they are paid straight wages). She has and remains able to avoid the god complex that many american doctors adopt. Doctors often feel (at least the ones I know) that they work 100 hours a week and deserve the royal lifestyle when they are off duty. I can see how they get to this point, as they are trying to compensate for a real lack of personal life given the demands of the job and burn out. However, that costs a lot of money and becomes a real earn and spend trap.

Paul Terhorst said it well: Treat your career like a professional athlete treats theirs, work hard for ten years and then hang it up.

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