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Working on my terms?? Need to earn 10-15.
Old 12-04-2005, 07:27 AM   #1
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Working on my terms?? Need to earn 10-15.

In my introduction on the other section of the forum I talked about my stateof NJ pension that will be 31,000 a year with full medical bennies for both my wife and myself at no cost. Dental will cost 65 a month for a very generous payout. Prescription plan is also excellent and I will be 50 and the wife 52.

I am selling a house here in NJ and will take around 300,000 in profit to North Carolina where we will be buying a home for cash, No debt even now credit cards are zero a small car payment will be history and both vehicles are newer models 04 and an 05 so needing new vehicles for the next 5 years is not in the cards.

I have small savings in cash and some CDs which is not gonna make any big deal but will come in handy if something needs replacement, like a major system in the house.

My pension has a cost of living increase after 24 months then yearly, the wife will be getting a 3,000 dollar a year small pension starting in 2009.

I have always worked since my days as a 4th grader delivering the newspapers!! I will ALWAYS work even when I do quit the rat race here in new jersey, I teach in Newark and drive too many miles a day to get to and from work, the kids are grown married and professionals with advanced degrees so they could at somepoint in the future help us out!! Yea right, but they so not need our financial help any more.

So what I am saying is do any of you here on the forum understand that selling books at borders or barnes and noble, kayaks at REI , running shoes at a sporting goods store or tending bar at a brewpub while being able to write, paint and even coach at a private school starting at the age of 50 is less stressful than continuing in the full time trap here in new jersey??

By taking my early retirement and having no mortgage and no debt with med bennies and figuring that by adding 10 15 a year living on 45+ a year would be doable?
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Re: Working on my terms?? Need to earn 10-15.
Old 12-04-2005, 08:27 AM   #2
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Re: Working on my terms?? Need to earn 10-15.

Quote:
Originally Posted by newguy88
i
So what I am saying is do any of you here on the forum understand that selling books at borders or barnes and noble, kayaks at REI , running shoes at a sporting goods store or tending bar at a brewpub while being able to write, paint and even coach at a private school starting at the age of 50 is less stressful than continuing in the full time trap here in new jersey??
There definitely are those here who understand this well. ESR Bob even wrote a book about it, Work Less, Live More. (There is a link at the bottom of the home page where you can connect to Amazon and buy the book if you want).

Quote:
By taking my early retirement and having no mortgage and no debt with med bennies and figuring that by adding 10 15 a year living on 45+ a year would be doable?
Of course, only you know your expenses, but with health insurance covered, $45,000 would be more than doable for plenty of people here.
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Re: Working on my terms?? Need to earn 10-15.
Old 12-04-2005, 07:30 PM   #3
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Re: Working on my terms?? Need to earn 10-15.

Bob's book is fantastic. I just finished it last night. It has some great ideas for early semi-retirement, which is what you are describing. There are several other good books on the topic and more seem to be appearing in the bookstores all the time.

I am planning to leave my job as a systems analyst in June, but I have many other part time jobs that I want to try. With reading Bob's book I have decided that it is far better for me to work longer at something I enjoy, than to try to earn as much money as possible at a job I hate. I'm excited about the possibilities!
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