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Fear or Love; What motovated you to RE?
Old 02-24-2006, 06:59 PM   #1
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Fear or Love; What motovated you to RE?

OK, From my previous post I came to the conclusion that polls do not have a great value (for some questions) on this forum. I think narative answers have a greater value for the forum members.

So the question is: What motivated you most to RE?

As I have done in the past I will tell you that I have not RE (yet) and my motivation is fear. I fear growing old and looking back and thinking "What could have been."

I am still planning to RE at 51 in May - I still have not pulled the trigger.
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Re: Fear or Love; What motovated you to RE?
Old 02-24-2006, 07:06 PM   #2
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Re: Fear or Love; What motovated you to RE?

Quote:
Originally Posted by dex
So the question is: What motivated you most to RE?

As I have done in the past I will tell you that I have not RE (yet) and my motivation is fear. I fear growing old and looking back and thinking "What could have been.
The fear that prevents you from RE is the fear that drove me to RE. I suppose it's which side of the fear you are viewing the "what could have been" from...

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Re: Fear or Love; What motovated you to RE?
Old 02-24-2006, 07:07 PM   #3
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Re: Fear or Love; What motovated you to RE?

Grab my hand Dex, we can jump off together. Or run the other way fast.
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Re: Fear or Love; What motovated you to RE?
Old 02-24-2006, 07:14 PM   #4
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Re: Fear or Love; What motovated you to RE?

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Grab my hand Dex, we can jump off together. Or run the other way fast.
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Re: Fear or Love; What motovated you to RE?
Old 02-24-2006, 07:18 PM   #5
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Re: Fear or Love; What motovated you to RE?

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Originally Posted by dex
So the question is: What motivated you most to RE?
I always had a dream to save enough to live off my investments, even as a teenager.

It wasn't until a death in the family that really solidified that dream and really made me appreciate the fact that life is short and that you are dead for a very long time.

When do most people really start enjoying life? *When they become an adult anywhere from age 18 to 22. *When does it end? *For many it's when your health problems start dominating your life, circa age 75 and up.

So, you get about 50 to 60 years of real living (if you are lucky). *Many people spend 40 to 50 of those years slaving away to be able to retire at age 65 or so. *That leaves what, about 10 of the last best years of your life to live? *No thanks.
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Re: Fear or Love; What motovated you to RE?
Old 02-24-2006, 07:38 PM   #6
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Re: Fear or Love; What motovated you to RE?

Quote:
Originally Posted by dex
OK, From my previous post I came to the conclusion that polls do not have a great value (for some questions) on this forum. I think narative answers have a greater value for the forum members.
Ruh-roh, I was afraid of this-- no more multiple choice, here come the essay questions!

Quote:
Originally Posted by dex
So the question is: What motivated you most to RE?
I knew I'd have to retire from the Navy at 20 years. A few years from that date, I started reading all the "Marketing Yourself for a Second Career" crap and working through all the self-assessment surveys.

The problem was that I didn't really care to do all the stuff that's "strongly recommended" by MYFASC, even though it's probably worth doing. It seemed like a lot more work than the work that I was currently working on, and even if it worked it was only going to lead to more, uh, work.

The self-assessement surveys came back with helpful info like "you're introverted & highly analytical". The final insult was the career surveys which determined that, after 20 years of submarine nuclear engineering, I was highly qualified to be... a nuclear engineer. In Hawaiian that translates to "HECO" or "shipyard".

Then, with a little help from my father, I realized that the Navy would be paying me whether I found a job or not. So what really motivated me was the steady unemployment check... I guess you'd say that I was motivated by both love & money.

The surfing is just an unexpected bonus.
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Re: Fear or Love; What motovated you to RE?
Old 02-24-2006, 07:46 PM   #7
 
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Re: Fear or Love; What motovated you to RE?

I think I'm just a slacker at heart!
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Re: Fear or Love; What motovated you to RE?
Old 02-24-2006, 07:54 PM   #8
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Re: Fear or Love; What motovated you to RE?

I am retiring at 57 in just a few months (my notice is in) because I also looked hard at what are likely to be regrets later on that I did not quit work earlier and enjoy more of my 'youth'.

You cannot retract your life and try a different approach. One chance is what you get. Live it to the fullest.
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Re: Fear or Love; What motovated you to RE?
Old 02-24-2006, 08:02 PM   #9
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Re: Fear or Love; What motovated you to RE?

For me it was the presentation of "it's my way or the highway."
GIMME THAT HIGHWAY RAT NOW!!!!!(and the pension too of course)
Along the highway I found working for myself was pretty good stuff also
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Re: Fear or Love; What motovated you to RE?
Old 02-24-2006, 08:17 PM   #10
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Re: Fear or Love; What motovated you to RE?

I still remember me visiting my grandfather over the summer break from school. To me it was just amazing that a grown man could stay at home all day without going to work. Then I was educated on the definition of retirement and said "that" sounds like a job I would like to have. Fast forward a few years, DW and I were saving half of our income but because their was no TSP or retirement accounts to put that much money into at that time (and IRA limits were 3k) we looked at real estate to grow our nest egg. I think it was more of the love to live life on my own terms. Then the fear set in and we kept pushing toward semi retirement.
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Re: Fear or Love; What motovated you to RE?
Old 02-25-2006, 06:37 AM   #11
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Re: Fear or Love; What motovated you to RE?

Quote:
Originally Posted by Martha
Grab my hand Dex, we can jump off together. Or run the other way fast.
Martha,
I think we are in the same place.

I remember a teacher once saying "Not to decide, is to decide." I need to make a decision soon.

Recently I looked at my resume and I quit a job in Oct '96. I said I would take a year off not look for a job until Jan '98. It took me until Jan. 99 to find a job where I wanted to live. So I was out of work for 2+ years. I guess I had a mini retirement. The time went fast! I enjoyed the first year when not looking for work. The second year was full of stress.

At my current age; 51, moving out (RE) and in of a high level position in my field is not realistic. But I guess there are other options.

Inspirational responses so far.
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Re: Fear or Love; What motovated you to RE?
Old 02-25-2006, 06:54 AM   #12
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Re: Fear or Love; What motovated you to RE?


Dex, it wasn't fear or love for me, the motivation.

It was rather uncomplicated. One day, 14 months after receiving two big checks, it dawned on me that I could retire, and I wanted to retire early from my profession (law). Funny thing is those two checks were from my one try at being a claimant's lawyer in a negligence case. (I was usually on the other side, or doing something entirely different.) And I didn't even have to file a lawsuit.

I think my best motivation was spending nearly every Thursday hiking with friends in my beloved mountains (Steve, they aren't in PA ). Okay, I guess it's love.
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Re: Fear or Love; What motovated you to RE?
Old 02-25-2006, 07:39 AM   #13
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Re: Fear or Love; What motovated you to RE?

I have several motivations althpugh I have not yet pulled the trigger. I am 52.

1. Boredom at work

2. I always planned to retire early.

3. I need to get in better physical shape and sitting at a computer all day is not going to do it.

4.I don't have time to do many things I want to do at home.

5. My parents did not live long lives but I have Grandparents that lived into their ninties. I am not sure where that leaves me.

6.I took five weeks off last fall and the best part was waking up in the morning and saying "Now what to I want to do today?"

7. One close co worker is retiring in March, another most likely in June, although he has not yet finalized and yet another will go next year or sooner if she can. One younger worker is concentrating on screwing the system and thinks I am going to save his @ss but he is going to be relegated to HE double toothpicks instead if he does not get his act together really soon.

8. Old co workers that heve retired seem so D@m happy and fitter.

9. I committed a year or so ago to starting and setting up a new project and that is now done and running smoothly.

10. I will have a pension that give me $2400 monthly clear after taxes and medical/dental, another rental income stream that give me $400 month, I will be holding a mortgage that will give me $500 Month. That is more than I am spending now. In additiion I will have four years of emergency funds in fairly liquid assetts.

I am glad I did this list.

Bruce
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Re: Fear or Love; What motovated you to RE?
Old 02-25-2006, 07:53 AM   #14
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Re: Fear or Love; What motovated you to RE?

Oh one more thing, I am getting really ticked off off with my commute.
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Re: Fear or Love; What motovated you to RE?
Old 02-25-2006, 09:22 AM   #15
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Re: Fear or Love; What motovated you to RE?

I don't know if it was fear or love....we retired early because we could.

In my case it wasn't an option but for hubby it was and he did. A large part of his decision was based on "ego". He wouldn't admit to it prior to retirement but he does now. He talked about leaving by age 53 or sooner so once he was 53 he HAD to go. (he has a few reservations about that but it really doesn't matter now)

Other motivations were spending more time doing outdoor activities, time with extended family, taking care of parents, hobbies, and not having to rush through things due to lack of time.

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Re: Fear or Love; What motovated you to RE?
Old 02-25-2006, 10:13 AM   #16
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Re: Fear or Love; What motovated you to RE?

Fear of declining health:

Major back surgery at age 18 leading to arthritis of the spine and other problems. Cancer at age 36. Treatments left me with reduced stamina and weakened immune system. Mom developed alzheimers at an early age. Working left too little energy to enjoy the rest of my time. Now I have the time and energy to exercise, get plenty of sleep and take care of myself. DW and I now travel a lot (will take 3rd cruise in 14 month span) while I still can.

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Re: Fear or Love; What motovated you to RE?
Old 02-25-2006, 11:26 AM   #17
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Re: Fear or Love; What motovated you to RE?

Easy. Quitting was more lucrative than continuing to work.

I (ok, everyone) was offered a years pay and benefits to not show up for a year, after which we could reapply for our old or other jobs. All my stock options were underwater. Reapplying for my old job a year later would have given me a 5 year set of new options priced better than the ones I was holding, and I probably could have negotiated for a larger number of shares. Its a lot easier for a manager to get a new hire a lot of stock than to give it to an existing employee...even a star one. I knew that. They knew that. No BS possible.

Probably could have negotiated a higher salary, since that too is more flexible for new or rehires.

Turned out I liked not working behind a desk, and turned out I didnt need to work for financial reasons.

And there we were.
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Re: Fear or Love; What motovated you to RE?
Old 02-25-2006, 11:55 AM   #18
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Re: Fear or Love; What motovated you to RE?

I enjoyed my work until about 7 years ago. Then, I went to work because the money was good (6 figures) , got to ride my bike to work, had own office, loose dress code (for me) and the job was relatively easy with stress that I could handle. Of course, I didn't have any stress at home as I am single and childless (as far as I know 8) ). About 3 years ago, I started thinking about retiring and since I am such a cheap SOB, I was able to build a decent nest egg despite stock market disaster.
I wouldn't consider retiring (laid off) at 57 too early but at least it's better than 62.

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Re: Fear or Love; What motovated you to RE?
Old 02-25-2006, 11:57 AM   #19
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Re: Fear or Love; What motovated you to RE?

Quote:
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I am single and childless (as far as I know 8) )
Thats way funnier when a woman says it.
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Re: Fear or Love; What motovated you to RE?
Old 02-25-2006, 03:16 PM   #20
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Re: Fear or Love; What motovated you to RE?

I want to change my earlier response. I now realize I retired early for love. Don't want this cartoon to be me:



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