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Old 04-02-2011, 05:48 PM   #21
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Still employed for the time being.... but I am counting the days!
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Old 04-02-2011, 05:59 PM   #22
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I plan on being called "Cabana Boy" by DW. Unemployed deadbeats will be better to our extended families.

I have been toying with the idea of starting a business. Tax advantages would make it worthwhile. I could be CEO and the janitor!
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Old 04-02-2011, 06:18 PM   #23
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Originally Posted by brewer12345
I may choose to call myself a "retirement plan administrator" when the time comes. I am actually listed as the administrator on DW's solo 401k, so what if it takes me 15 minutes a year to administrate?
How long did it take u to set up the solo 401k? Was there any cost involved?
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Old 04-02-2011, 06:32 PM   #24
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You earned the "retired" label and now you should use it. "Unemployed" has a negative connotation. Unfortunately, what we name something is often how we treat it. "Unemployed" is not exactly high status. The meaning of a word is not in the word itself, but in the people. Whether we like it or not, semantics plays an important role in our lives. I would prefer to have my grandchildren refer to me as retired as opposed to unemployed, because it simply sounds better.
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Old 04-02-2011, 07:27 PM   #25
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When asked about my status I usually say ~ "I'm currently between assignments." That pretty-much changes the conversation.
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Old 04-02-2011, 07:45 PM   #26
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As one who is still w*rking, my gestalt is that retired has a positive meaning (usually meaning a voluntary decision) whereas unemployed suggests that a person might have been downsized, or made redundant (horrible term!). I hope that when I do retire, I will be confident enough to say so. After all, being FIRE is an achievement one can be proud of!
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Old 04-02-2011, 08:22 PM   #27
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As one who is still w*rking, my gestalt is that retired has a positive meaning (usually meaning a voluntary decision) whereas unemployed suggests that a person might have been downsized, or made redundant (horrible term!). I hope that when I do retire, I will be confident enough to say so. After all, being FIRE is an achievement one can be proud of!
I don't see anything negative about being downsized or RIF. Sometimes, this happens because of the economy and has nothing to do with the persons performance or abilities.

Sometimes, it is a matter of luck. There was one time that a project in the magacorp was cancelled and everybody working in that project got RIF. Now, many of these people are better than the ones that were left. It just so happened that the people left were not working on that project (me included).

Who are lucky? The ones left left or the ones that got RIF? Sometimes, it is better to be RIF as you get a lot of benefits as previously mentioned here. I, personally would prefer to be RIF than retire voluntarily. But, I want to go out.
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Old 04-02-2011, 10:24 PM   #28
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I don't see anything negative about being downsized or RIF. Sometimes, this happens because of the economy and has nothing to do with the persons performance or abilities.
Couldn't agree more. I laid off high-performing employees so that the work could be delivered by less capable workers in low cost countries.
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Old 04-02-2011, 10:52 PM   #29
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"'Unemployed' has a negative connotation."

To my ear "employed" has a negative connotation. I don't really understand why people take so much pride in being someone else's servant.

In my mind, if I became 'employed' it would mean I had failed as an investor, rather than that I had succeeded at getting a wage.
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Old 04-03-2011, 07:46 AM   #30
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How long did it take u to set up the solo 401k? Was there any cost involved?
I set this up with Fidelity 4 or 5 years ago. It was (and I think still is) free to set up and they actually held my hand whenever I had dumb questions. We have never paid a fee and it looks just like a brokerage account. It was pretty easily initially and now my effort involves filling out a 1 page form when I send in our annual contribution.

I would have gone with Schwab for this since we dod everything else with them, but they wanted fees, etc. Fido has made it easy and free.
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Old 04-03-2011, 08:51 AM   #31
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How long did it take u to set up the solo 401k? Was there any cost involved?
Like Brewer, my solo401K is with Fido. It was relatively simple to set up and to run and I've been happy with the service. Since Vanguard now offers them, I might go with them if I were starting today just because all my other accounts are with VGD.
It's easy and I've saved a lot in taxes with the solo 401K, much more than I could have saved with a SEP.
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Old 04-03-2011, 09:27 AM   #32
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Unemployed works great when the telemarketers call even after we have been on the list or a charity we do not plan to give to calls.
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Old 04-03-2011, 11:49 AM   #33
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Unemployed works great when the telemarketers call even after we have been on the list or a charity we do not plan to give to calls.
If it is a casual conversation, I pick and choose whether or not I'm unemployed or retired based on what I want this particular person to know about my business.
If I'm negotiating a deal/price on something I want to buy at a better price, I poor mouth them to no end. Unemployed
I've never even told my neighbors I'm retired. Basically non of their business in my opinion. I always worked weird shifts so they don't know if I'm working nights, weekends or days, 1st, 2nd or 3rd shifts.
Steve
PS. I also use the unemployed on the telemarketers.
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Old 04-03-2011, 03:42 PM   #34
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PS. I also use the unemployed on the telemarketers.
Didn't know that they were still making calls. Glad that the DNC list still works...
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Old 04-03-2011, 10:31 PM   #35
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Didn't know that they were still making calls. Glad that the DNC list still works...
Seems the list doesn't cut everybody out.
I still get calls from my phone company, cable company & some beggar city & county, donation folks.
Steve
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Old 04-04-2011, 07:23 AM   #36
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I tell people that I'm a trust fund baby. (even thought I'm not!) Has a nice, and credible ring here in the Boston area.
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Old 04-04-2011, 09:26 AM   #37
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A family friend blurted out "unemployed" and grabbed for the lunch check. I let her grab the bill, but at singles functions such as salsa socials, I use the words real estate investor.
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Old 04-04-2011, 10:26 AM   #38
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I tell people that I'm a trust fund baby. (even thought I'm not!) Has a nice, and credible ring here in the Boston area.
I like it. "Kept man" has a nice ring, too.
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Old 04-04-2011, 11:27 AM   #39
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There are 3 or 4 of these genuine articles in my building. Nice way to live. They all seem to be unassuming and perhaps somewhat passive and withdrawn people.

Ha
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Old 04-04-2011, 06:43 PM   #40
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Seems the list doesn't cut everybody out.
I still get calls from my phone company, cable company & some beggar city & county, donation folks.
Steve
Yea Steve, I guess that I still get a few of those too. But, after their first sentence, I hit them with ~ "take me off your list forever" and hang up.
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