Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Re: What is the age cutoff for "RE"?
Old 10-11-2006, 02:32 PM   #21
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,620
Re: What is the age cutoff for "RE"?

Quote:
Originally Posted by JustCurious
Based upon the initial replies, there does not appear to be a consensus on this issue.
That's about all you can expect on a board where we can't even produce a common definition of net worth or annual expenses, a balanced perspective on annuities, any unemotional recommendations on rent vs buy or mortgage vs debt free, and kids vs none.

But you can expect plenty of it!
__________________

__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords 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!

Re: What is the age cutoff for "RE"?
Old 10-11-2006, 05:52 PM   #22
Thinks s/he gets paid by the post
2B's Avatar
 
Join Date: Mar 2006
Location: Houston
Posts: 4,330
Re: What is the age cutoff for "RE"?

Quote:
Originally Posted by Martha
In my lawfirm, normal age is in your 70s. Or 80s. Or for the founder's son, in his 90s. If someone left at 65 that would be early.
It sounds like your law firm is like the engineering firm I'm with. I'm below the median age for process engineers and I'm chomping at the bit to bail.
__________________

__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
2B is offline   Reply With Quote
Re: What is the age cutoff for "RE"?
Old 10-12-2006, 11:40 AM   #23
Thinks s/he gets paid by the post
Rustic23's Avatar
 
Join Date: Dec 2005
Location: Lake Livingston, Tx
Posts: 3,624
Re: What is the age cutoff for "RE"?

It would appear to me that RE like FI are individual decisions and thus somewhat defy an exact definition. If you are FI and you still work have you missed RE? I assume Bill Gate’s kids are born FI, so if they ever go to work have they missed out on RE? If they work to 50 and then retire have they really RE’ed when they could have at 21? RE is in the eye of the beholder. I suspect that the younger you are the earlier you would set the age to qualify for RE.

I retired at 62. For me it was earlier than I had planned on. I started reading things on this board, did the math, determined I was FI, my wife wanted to enjoy the new lake house, so I quit, she quit, and we never looked back. I feel like we retired early because there are so many of my and her friends that are still working. I feel like we retired early because we could still be working if we wanted, which we don’t. I feel like we retired early because it makes me feel good to know I did!
__________________
If it is after 5:00 when I post I reserve the right to disavow anything I posted.
Rustic23 is offline   Reply With Quote
Re: What is the age cutoff for "RE"?
Old 10-12-2006, 12:58 PM   #24
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
kcowan's Avatar
 
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 5,739
Send a message via Skype™ to kcowan
Re: What is the age cutoff for "RE"?

Quote:
Originally Posted by Rustic23
...I retired at 62. For me it was earlier than I had planned on...
I retired at 59 because the timing of an event aligned with my idea to consider it. I was not FI and still am not (according to FIRECALC) but have been focused on the portfolio and the budget since then (4 years) and so far our portfolio is up 10% after expenses. Expenses are down 25% from working level. With each passing year we are getting closer to FI.
__________________
For the fun of it...Keith
kcowan is offline   Reply With Quote
Re: What is the age cutoff for "RE"?
Old 10-12-2006, 01:06 PM   #25
Thinks s/he gets paid by the post
 
Join Date: Jul 2003
Location: Pasadena CA
Posts: 2,695
Re: What is the age cutoff for "RE"?

Another answer:

If you retire at a younger age than your father did.

My Dad retired at 62 mostly for medical reasons. I expect 56 or 57 will be enough for me. And I hope to stay in good enough physical shape that I enjoy some retirement years.
__________________
T.S. Eliot:
Old men ought to be explorers
yakers is offline   Reply With Quote
Re: What is the age cutoff for "RE"?
Old 10-12-2006, 01:13 PM   #26
Full time employment: Posting here.
 
Join Date: Nov 2003
Posts: 926
Re: What is the age cutoff for "RE"?

Quote:
Originally Posted by yakers
Another answer:

If you retire at a younger age than your father did.
That's an interesting point of view. My Dad retired at 67 (he's 89 now).
Man, if I thought I had to work another 5 years before I could leave
I'd be hooking a hose to my exhaust pipe and duct taping the cracks in the garage door.

JG
__________________
Some of us have pretty stories, about good friends, good times and noodle salad.
Mr._johngalt is offline   Reply With Quote
Re: What is the age cutoff for "RE"?
Old 10-12-2006, 01:44 PM   #27
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Dawg52's Avatar
 
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 7,446
Re: What is the age cutoff for "RE"?

My Dad retired at 58, although it was health related. So I guess I will qualify as an early retiree. 8)
__________________
Retired 3/31/2007@52
Full time wuss.......
Dawg52 is offline   Reply With Quote
Re: What is the age cutoff for "RE"?
Old 10-12-2006, 02:17 PM   #28
Thinks s/he gets paid by the post
retire@40's Avatar
 
Join Date: Feb 2004
Posts: 2,670
Re: What is the age cutoff for "RE"?

Quote:
Originally Posted by kcowan
I retired at 59 because the timing of an event aligned with my idea to consider it. I was not FI and still am not (according to FIRECALC) but have been focused on the portfolio and the budget since then (4 years) and so far our portfolio is up 10% after expenses. Expenses are down 25% from working level. With each passing year we are getting closer to FI.
I love it.

Even when it's not supposed to work, you figure out a way to make it work (no pun intended).

Where there's a will there's a way.
__________________
No man is free who is not master of himself. --- Epictetus
Enjoy Yourself (It's Later Than You Think). --- Guy Lombardo
retire@40 is offline   Reply With Quote
Re: What is the age cutoff for "RE"?
Old 10-12-2006, 02:22 PM   #29
Thinks s/he gets paid by the post
tryan's Avatar
 
Join Date: Mar 2005
Posts: 2,449
Re: What is the age cutoff for "RE"?

Where I left ER does not exists. I heard:

" Com'on what are you really gonna do"
" Ok, you're taking a break ... you'll be back at work when the severence ends"
" Yeah right ... Call me so I can get the refferal fee"

So I guess anytime before YOU retired is ER.
__________________
FIRE'd since 2005
tryan is offline   Reply With Quote
Re: What is the age cutoff for "RE"?
Old 10-12-2006, 03:47 PM   #30
Full time employment: Posting here.
 
Join Date: Sep 2006
Posts: 678
Re: What is the age cutoff for "RE"?

Quote:
Originally Posted by Rustic23
It would appear to me that RE like FI are individual decisions and thus somewhat defy an exact definition.
I would have to disagree because from what I have read on this forum, it appears that there is indeed an exact definition of "FI", and it is defined as "having enough savings and investments to throw off a SWR to support your lifestyle without working." The magic number to accomplish this goal will be different for different people, but at least there seems to be a consensus on the defintion, whereas there is no consensus on the definition of "RE".
__________________
JustCurious is offline   Reply With Quote
Re: What is the age cutoff for "RE"?
Old 10-13-2006, 10:13 AM   #31
Full time employment: Posting here.
bosco's Avatar
 
Join Date: Jul 2005
Posts: 987
Re: What is the age cutoff for "RE"?

Quote:
Originally Posted by yakers
Another answer:

If you retire at a younger age than your father did.

not a helpful definition for some of us. My father retired from the planet at age 46. I consider myself lucky that I'm older than that and still walking around....
__________________
I have an inferiority complex, but it's not a very good one.
bosco is offline   Reply With Quote
Re: What is the age cutoff for "RE"?
Old 10-13-2006, 01:46 PM   #32
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
kcowan's Avatar
 
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 5,739
Send a message via Skype™ to kcowan
Re: What is the age cutoff for "RE"?

Quote:
Originally Posted by retire@40
I love it.

Even when it's not supposed to work, you figure out a way to make it work (no pun intended).

Where there's a will there's a way.
DW and I also agreed that we would move to Mexico if we could no longer make it work financially. By living there from Oct-Mar, and travelling north Apr-Sep, we can further reduce our living expenses by 30%. Satellite TV, hi-speed internet and VOIP have made it even more attractive since we first devised that as a fallback plan in 2003...

Plus we could do home swaps during the summer to further reduce our nut as needed. Or rent out our place to school teachers and families. Finally, we have scoped out Uruguay as an even cheaper destination where owning beach property is still a deal and living cost are 50% cheaper again.
__________________
For the fun of it...Keith
kcowan is offline   Reply With Quote
Re: What is the age cutoff for "RE"?
Old 10-13-2006, 02:02 PM   #33
Full time employment: Posting here.
kaudrey's Avatar
 
Join Date: Feb 2006
Location: Alexandria, Va
Posts: 943
Re: What is the age cutoff for "RE"?

"Actually, last time I looked the average age of retirement in the Federal Gvmt was around 63 and rising. 55 with 30 years service is the age at which regular workers under the old civil service retirement system could retire without a reduction in their annuity."

-----

True. I'm under the newer FERS system, and I'd have to wait until 56 years 10 months to retire with full immediate pension and full health bennies. By retiring 5 years earlier (at age 52, with 31 years in), I'll still get my full pension, deferred to 56 years 10 months, but I lose my health insurance bennies.

So, for me, anything before 57 is early. That is, coincidentally, the age my father retired, so I'll match two of the ideas floating around here!

Karen
__________________
Two roads diverged in a wood, and I - I took the one less travelled by...
kaudrey is offline   Reply With Quote
Re: What is the age cutoff for "RE"?
Old 10-13-2006, 08:41 PM   #34
Moderator Emeritus
Khan's Avatar
 
Join Date: Aug 2006
Location: Pine Island, Florida
Posts: 6,868
Send a message via AIM to Khan
Re: What is the age cutoff for "RE"?

Quote:
Originally Posted by kaudrey
"Actually, last time I looked the average age of retirement in the Federal Gvmt was around 63 and rising. 55 with 30 years service is the age at which regular workers under the old civil service retirement system could retire without a reduction in their annuity."

-----

True. I'm under the newer FERS system, and I'd have to wait until 56 years 10 months to retire with full immediate pension and full health bennies. By retiring 5 years earlier (at age 52, with 31 years in), I'll still get my full pension, deferred to 56 years 10 months, but I lose my health insurance bennies.

So, for me, anything before 57 is early. That is, coincidentally, the age my father retired, so I'll match two of the ideas floating around here!

Karen
Keep your eyes open for early retirement offers (20 years, age 50).

I took one at age 54 with 26.5 years with reduced pension (which increased at MRA (age 55.5 )) and I kept health insurance.
__________________
"Knowin' no one nowhere's gonna miss us when we're gone..."
Khan is offline   Reply With Quote
Re: What is the age cutoff for "RE"?
Old 10-13-2006, 08:45 PM   #35
Recycles dryer sheets
 
Join Date: Nov 2005
Posts: 152
Re: What is the age cutoff for "RE"?

I belong in the young dreamers forum... My goal is to retire on my 40th birthday which happens to be ohhh.... 15 years away! Go military retirement!

I suppose I consider 50ish normal and 40s early.
__________________
trixs is offline   Reply With Quote
Re: What is the age cutoff for "RE"?
Old 10-13-2006, 10:21 PM   #36
Recycles dryer sheets
JonnyM's Avatar
 
Join Date: Mar 2004
Location: Modesto
Posts: 334
Send a message via AIM to JonnyM Send a message via Yahoo to JonnyM
Re: What is the age cutoff for "RE"?

I don't believe it's an Age number, but a realization that you've opted out, or are planning to opt out well in advance of your peer group, primarily in the work force, but also your social circle as well. In our case our decision was met with disbelief, and at first numerous comments of jelously and disdain, followed later by requests for "How can I join you?" and "Is this really possible for me?" conversations which continue to this day. Factoid, all of our peers (some 4 thousand) work(ed) under the same retirement system with the same rules and regs, they just for the most part never bothered to study them, or look into the possibility of anything short of a putting in at least 30 years baring health issues. The reality we discovered is the system we worked under was based on a sliding acutuarial table. The older you are, the sooner you'll die, the more we'll pay you to retire, mutiplied times your years of service to the organization, multiplied times the level of pay you are able to acheive near the end of your tenure. As a society, we are for the most part conditioned NOT to think of ER and FIRE as realizable goals, and certainly not as desireable outcomes, yet the opportunity is/was there for my peer working group. That's what is unique and so way-cool about the membership of this board. We are the tiny subset of folk that "get it" and thought outside the box enough to ER or are planning for it, but it is very obvious to me that we are the minority. 8) [img width=750 height=477]http://rds.yahoo.com/_ylt=A0Je5x92VzBF8TMBcy2jzbkF;_ylu=X3oDMTA4NDgyNWN 0BHNlYwNwcm9m/SIG=12843crfc/EXP=1160882422/**http%3a//www.outcastband.com/gallery/images/guitar.jpg[/img]
__________________
It's about the music
JonnyM is offline   Reply With Quote
Re: What is the age cutoff for "RE"?
Old 10-14-2006, 12:02 AM   #37
Thinks s/he gets paid by the post
 
Join Date: Jul 2003
Location: Pasadena CA
Posts: 2,695
Re: What is the age cutoff for "RE"?

I like what JohnnyM wrote, I like it a lot. But, as also well stated earlier in this thread, I agree that there are two major threads in FIRE the FI & the RE. You have to get to FI to get to RE but I regard the FI as the more significant event. I kind of liked my job all along but it has positively blossomed since I hit FI and don't give a rats a%% about what the boss thinks. I have my target date set but will happily stay on as long as I want. I own my work more now that I chose to be there.
__________________
T.S. Eliot:
Old men ought to be explorers
yakers is offline   Reply With Quote
Re: What is the age cutoff for "RE"?
Old 10-14-2006, 05:59 AM   #38
Recycles dryer sheets
 
Join Date: Apr 2005
Posts: 184
Re: What is the age cutoff for "RE"?

Quote:
Originally Posted by kaudrey
So, for me, anything before 57 is early. That is, coincidentally, the age my father retired, so I'll match two of the ideas floating around here!
As the US population lives longer and has less wealth, "retirement age" will keep pushing out, so I guess the definition of "early retirement" will keep pushing out.

I consider anything before 57 or 58 early.

10 years from now, people may consider retiring in your 60's "early" - never in my book.....
__________________
Delawaredave is offline   Reply With Quote
Re: What is the age cutoff for "RE"?
Old 10-14-2006, 07:21 AM   #39
Full time employment: Posting here.
 
Join Date: Feb 2006
Posts: 987
Re: What is the age cutoff for "RE"?

Quote:
Originally Posted by JonnyM
As a society, we are for the most part conditioned NOT to think of ER and FIRE as realizable goals, and certainly not as desireable outcomes, yet the opportunity is/was there for my peer working group.
So true. However, I still question "myself" if I can retire (even though the "evidence" will support my ER next spring) when those around me for the last 30+ years can't. I can't beleive I'm that "smart"... :

- Ron
__________________
rs0460a is offline   Reply With Quote
Re: What is the age cutoff for "RE"?
Old 10-14-2006, 08:34 AM   #40
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2003
Location: Kansas City
Posts: 7,409
Re: What is the age cutoff for "RE"?

Circa late 1980's early 1990's - my graph paper/no 2 pencil showed 'early retirement' at 63 versus say regular at 66.

I was layed off at 49 - I was er ah unemployed until I discovered this forum and became a high class ER in hindsight.

heh heh heh heh heh - along with a few other labels.
__________________

__________________
unclemick 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
Does retirement spending decrease with advanced age? JustCurious FIRE and Money 24 01-23-2007 12:29 PM
Stone Age Newborns~27,000 years old mickeyd Other topics 0 11-21-2006 12:44 PM
Real retiring age of Spaniards highest ForeignExchange Life after FIRE 0 01-20-2006 08:58 AM
Who picked age 65? mickeyd Other topics 28 05-25-2004 05:20 AM
SS options in firecalc wzd FIRE and Money 4 02-16-2003 10:46 AM

 

 
All times are GMT -6. The time now is 03:25 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.