Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Take a bow FIRE crowd - we are a rare species
Old 02-20-2019, 09:59 PM   #1
Recycles dryer sheets
Dd852's Avatar
 
Join Date: Jul 2013
Location: London/UK
Posts: 266
Take a bow FIRE crowd - we are a rare species

A new ING Report basically gloomily says most people globally think they’ll never be able to retire https://think.ing.com/articles/earni...-the-new-norm/ - it is worth giving thanks for what most of us in this forum have been able to accomplish and the freedom of choice it has given us.
__________________

Dd852 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-20-2019, 10:04 PM   #2
Thinks s/he gets paid by the post
Jerry1's Avatar
 
Join Date: Nov 2014
Posts: 1,838
In all seriousness. I feel blessed and grateful that I'm in this position. Sure, there was work involved but there was also some fate/luck/blessings along the way too.
__________________

__________________
Ended work 9am 1/17/2018 - 56yo. Officially retired 2/1/2019.
Jerry1 is online now   Reply With Quote
Old 02-20-2019, 10:18 PM   #3
Thinks s/he gets paid by the post
robnplunder's Avatar
 
Join Date: Nov 2013
Location: Bay Area
Posts: 2,399
I desperately want to go back to work. ER has been a mega disaster .... NOT!


Life is good. ER is better.
__________________
Pura Vida
robnplunder is offline   Reply With Quote
Old 02-21-2019, 02:18 AM   #4
Recycles dryer sheets
 
Join Date: Sep 2007
Location: Portland/North Port
Posts: 260
Quote:
Originally Posted by Jerry1 View Post
In all seriousness. I feel blessed and grateful that I'm in this position. Sure, there was work involved but there was also some fate/luck/blessings along the way too.
+1
neihn is offline   Reply With Quote
Old 02-21-2019, 03:26 AM   #5
Recycles dryer sheets
 
Join Date: Dec 2018
Posts: 490
I thought I was just a working Joe saving, investing, paying off my house and working second jobs not because I needed too but because I wanted to, to go keep pouring money into my index funds. When the deep recession hit in 2008,09 and many people lost their jobs and homes, and the Dow was freefalling, I went the other route and heavily I invested back into the market while others in panic and frustration pulled out their monies. This allowed me to retire early.
Nick12 is online now   Reply With Quote
Old 02-21-2019, 03:53 AM   #6
Thinks s/he gets paid by the post
 
Join Date: Jan 2018
Location: Tampa
Posts: 3,034
Quote:
Originally Posted by neihn View Post
+1
+2
Didn't plan for ER for many years like some folks on this site. Thus there was some luck involved, but did LBYM every year.
__________________
TGIM
Dtail is offline   Reply With Quote
Old 02-21-2019, 04:02 AM   #7
Thinks s/he gets paid by the post
DrRoy's Avatar
 
Join Date: Dec 2015
Location: Michigan
Posts: 2,480
I started saving from my first paycheck.
__________________
"The mountains are calling, and I must go." John Muir
DrRoy is offline   Reply With Quote
Old 02-21-2019, 04:48 AM   #8
Recycles dryer sheets
 
Join Date: Apr 2017
Location: Denver
Posts: 58
Quote:
Originally Posted by Nick12 View Post
I thought I was just a working Joe saving, investing, paying off my house and working second jobs not because I needed too but because I wanted to, to go keep pouring money into my index funds. When the deep recession hit in 2008,09 and many people lost their jobs and homes, and the Dow was freefalling, I went the other route and heavily I invested back into the market while others in panic and frustration pulled out their monies. This allowed me to retire early.
+1

I did feel some "will the market ever come back" anxiety during that period but never stopped reinvesting my dividends. That paid off nicely as the market rose and was a big factor in my decision and ability to FIRE last year.
Denverite is offline   Reply With Quote
Old 02-21-2019, 05:55 AM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 9,223
Yeah, I feel lucky. I have always said, "stuff falls in my bag."
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is offline   Reply With Quote
Old 02-21-2019, 06:01 AM   #10
Thinks s/he gets paid by the post
 
Join Date: Nov 2016
Posts: 2,133
Quote:
Originally Posted by Jerry1 View Post
In all seriousness. I feel blessed and grateful that I'm in this position. Sure, there was work involved but there was also some fate/luck/blessings along the way too.
This is how I feel about it and blessed dearly in life.
street is offline   Reply With Quote
Old 02-21-2019, 07:36 AM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
MRG's Avatar
 
Join Date: Apr 2013
Posts: 7,661
Quote:
Originally Posted by Jerry1 View Post
In all seriousness. I feel blessed and grateful that I'm in this position. Sure, there was work involved but there was also some fate/luck/blessings along the way too.
Indeed. I almost was killed twice in my first career. I worked hard to get an education and a different career.
MRG is online now   Reply With Quote
Old 02-21-2019, 07:39 AM   #12
Thinks s/he gets paid by the post
 
Join Date: Aug 2005
Posts: 2,226
Quote:
Originally Posted by Denverite View Post
+1

I did feel some "will the market ever come back" anxiety during that period but never stopped reinvesting my dividends. That paid off nicely as the market rose and was a big factor in my decision and ability to FIRE last year.

Yep, I felt that, too. I think every time one of these dips, corrections, recessions, etc comes around, there's always sort of a "This time it's different!" feeling that goes with it. Plus, even though logically, we know the market will turn around eventually, it just feels like hell until that moment gets there. And then, for me at least, once the market does start to turn around, I start to wonder, it is really turning around, or is this just a false start, "dead cat bounce" or whatever?


I'll admit, I'm still feeling a bit of anxiety over the turmoil we just had in late 2018. Although, I just checked my totals, and it would only take a 4.3% rise to get me back to the end of September 2018, when I had hit a new peak. At my worst, on Christmas Eve, I was down around 17.5%. And, because it takes a greater percentage gain to make you whole again, than what you lost, at that point I would have needed to see a 21% jump to get back to that point.


Logically, I should be happy that I've bounced back so quickly. But, I just have a gut feeling we're not quite out of the woods yet...
Andre1969 is offline   Reply With Quote
Said the wise man to the sage
Old 02-21-2019, 08:22 AM   #13
Full time employment: Posting here.
Mdlerth's Avatar
 
Join Date: Oct 2016
Location: The Shire
Posts: 920
Said the wise man to the sage

Quote:
Originally Posted by Andre1969 View Post
Logically, I should be happy that I've bounced back so quickly. But, I just have a gut feeling we're not quite out of the woods yet...
That's probably because we're NEVER completely out of the woods. I refer you to an intelligent gentleman I encountered on this forum:

Quote:
Originally Posted by Andre1969 View Post
...logically, we know the market will turn around eventually
__________________
Paying it forward is the best investment.
Mdlerth is offline   Reply With Quote
My portfolio groweth like my forehead
Old 02-21-2019, 08:49 AM   #14
Full time employment: Posting here.
Mdlerth's Avatar
 
Join Date: Oct 2016
Location: The Shire
Posts: 920
My portfolio groweth like my forehead

I read through the ING report, and came away with a question. Do the other (mostly European) countries included in the survey have equivalents to the IRA/401k/403b/457b/TSP programs available in the US?

From personal experience, automating the saving and investing was essential to reaching my own FI. In addition to the incentives (tax deferment and company match) to save and the disincentives (10% penalty for early wd) to raid it, I can't guarantee that I'd have had the discipline to stick with it all those years if the cash had crossed my hands first.

If those silver-haired marchers in France protesting government pension cuts never had access to a similar savings vehicle, it's no wonder they feel like they weren't able to provide for their own retirements. I would probably be just like them... except my hair isn't turning silver so much as it's turning loose.
__________________
Paying it forward is the best investment.
Mdlerth is offline   Reply With Quote
Old 02-21-2019, 04:02 PM   #15
Full time employment: Posting here.
HNL Bill's Avatar
 
Join Date: Dec 2017
Location: Honolulu
Posts: 893
We ARE a rare species. We plan, we save, we invest, we look to the future.

But, much of what we accomplished, we were able to do because of some form of luck (accident of birth), country location, parental upbringing, intellect, physical ability, etc. While none of those alone would have gotten us here, without them, most of us wouldn't be here, either.

Imagine being born in the desert in the middle of nowhere. No jobs, subsistence living. Living in adobe houses at best. No good medicine. No vaccinations. No OBGYN, no hospital. No clean water. Life expectancy of maybe 45.

Now, imagine being born in the poorest state and town in the US. Everything has changed. Even the poorest person can rise above, and get out, assuming they have drive and ambition, and a little bit of intelligence.

While I'm proud of what I've accomplished with my very modest upbringing, I didn't do it alone. I was born in California. I had loving, college-educated parents. They paid for my college. I majored in STEM. I was able to get a job within 6 weeks of graduation. Moving around between urban areas of two states, I was able to be employed full-time, without a gap, for the past 28 years. While much of this was hard work and learning, much of it would not have happened if I'd been born into different circumstances.

I'm grateful for the start I was given!
HNL Bill is offline   Reply With Quote
Old 02-21-2019, 04:24 PM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2003
Location: Kansas City
Posts: 7,524
Hmm - hindsight being what it is - best ever event was getting canned/layed off at age 50 (Jan 1993) instead of trudging on to planed retirement at age 63.

Had no idear (grin) of how cheap an SOB I could be. Cutting expenses with fear as a prime motivation got us to levels of thrift I previously believed impossible.

Save first then do whatever it takes to live on the rest is 'the gorilla in the room' in all these articles.

heh heh heh - easier said than done. I did not see until I was forced to see.
unclemick is offline   Reply With Quote
Old 02-21-2019, 08:55 PM   #17
Dryer sheet wannabe
 
Join Date: Feb 2019
Posts: 21
Kinda odd how the right words at the right time make the switch click:

18 years old. Basic Training (1970's). One of the lectures talked about 'pay yourself first' to avoid poverty in old age.

I'm glad I stayed awake during that lecture.
Squirrel is offline   Reply With Quote
Old 02-22-2019, 08:11 PM   #18
Full time employment: Posting here.
 
Join Date: Jul 2015
Posts: 616
Quote:
Originally Posted by Nick12 View Post
I thought I was just a working Joe saving, investing, paying off my house and working second jobs not because I needed too but because I wanted to, to go keep pouring money into my index funds. When the deep recession hit in 2008,09 and many people lost their jobs and homes, and the Dow was freefalling, I went the other route and heavily I invested back into the market while others in panic and frustration pulled out their monies. This allowed me to retire early.
+1 Was fortunate I managed to stay employed through that recession. I just scored a promotion that year, but now had to deal with office politics. Started preparing for a layoff and tried to keep my head down. I stopped looking at my 401k and brokerage account, and just kept pouring $$ in. I was all equities; it was scary. Rode the equities recovery into retirement.
__________________
Living the dream...
FreeBear is offline   Reply With Quote
Old 02-22-2019, 08:45 PM   #19
Thinks s/he gets paid by the post
Eagle43's Avatar
 
Join Date: Jan 2005
Location: DFW
Posts: 1,947
I always thought I was just lucky. Anyway, DW and I have enough loot (I hope) to last until we check out. BTW: I must thank this forum for telling me to get index funds and stay the course. That's what we did and it seems to be working. Life is good.
__________________
Resist much. Obey Little. . . . Ed Abbey

Disclaimer: My Posts are for my amusement only.
Eagle43 is offline   Reply With Quote
Old 02-22-2019, 09:29 PM   #20
Full time employment: Posting here.
Markola's Avatar
 
Join Date: Nov 2013
Posts: 666
I was in high school and my mother was studying to be a realtor. One of her books was nothing but page after page of compound interest tables. It was about the first book I’d ever gotten excited about, because it pointed the way to some kind of magic in the world. I couldn’t wait to get a nut together and then let the compounding begin.
__________________

Markola is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Net neutrality is dead. Bow to Comcast & Verizon. Midpack Other topics 50 02-19-2014 07:35 PM
Free TV an endangered species? ziggy29 Other topics 8 12-31-2009 12:59 PM
Coming From Behind (Bow Chica Bow Bow) O:) RetiredGypsy Hi, I am... 19 04-30-2008 04:42 PM
Early Retirement headed for the Endangered Species list? REWahoo Other topics 32 04-29-2007 07:40 PM

» Quick Links

 
All times are GMT -6. The time now is 06:43 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.