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Re: Politically Correct Retirement
Old 04-20-2005, 06:18 AM   #41
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Re: Politically Correct Retirement

BigMoneyJim said

Quote:
I couldn't figure out the relevance of the question about a vested pension. It asked how many years I've been vested -or- how many years until I can start taking benefits. Huh?
I couldn't figure out that question either. How was a person supposed to choose between the number of years until they start collecting pension benefits or the number of years that they've been vested in their pension plan? I decided to go with the number of years that I've been vested.

I scored a 43 on the test so it looks I have some work ahead of me in order to improve my retirement.
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Re: Politically Correct Retirement
Old 04-20-2005, 06:33 AM   #42
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Re: Politically Correct Retirement

Okay, I took it! Happy now?

It was not as dopey as I expected, but they left
out some real important questions (like health issues).
Anyway, as expected they think I am in big trouble.
Score 26................ pretty much tied with Charlie.

JG
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Re: Politically Correct Retirement
Old 04-20-2005, 08:04 AM   #43
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Re: Politically Correct Retirement

Quote:
Clearly CT has the most near and dear *friends. *

24 for me
Hey Martha:

I scored the same as you. However, you have one main advantage over me, you can continue working for another 10 or l5 years.
Going into my l9th. year of retirement, imagine what a shock it was to me, to find out I had to go back to work.
Given the fact that the most productive activity I have done since retiring is working on golf handicap, and fly-fishing, (and staying out of wife's space enough to keep her out of "funny farm"), a Walmart Greeter would be a stretch for me.
My wife has been a homemaker all of our married life, and right after I took the test, I broke the news to her that I was no longer employable, and she would have to go out and get a job. By the way, what does "place that idea where the moon don't shine" mean?
Damn!






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Re: Politically Correct Retirement
Old 04-20-2005, 11:25 AM   #44
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Re: Politically Correct Retirement

It is nice to see I am in good company Jarhead. I figure that you have to be one of the most (along with Mikey), if not the most, successful early retirees on this board as you have been retired for 19 years and it has worked for you.

So heck with the test.
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Re: Politically Correct Retirement
Old 04-20-2005, 11:31 AM   #45
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Re: Politically Correct Retirement

Hey Martha, what about me? Chopped liver?
Or are you one of those who thinks I deserve only
censure for having an employed spouse? IMHO, that
advantage should be offset by my almost complete lack of foresight and planning

JG
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Re: Politically Correct Retirement
Old 04-20-2005, 11:54 AM   #46
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Re: Politically Correct Retirement

JG,

My wife could "retire" today, after only 2 years of working, and I guess she could come to these forms talking about how she "recklessly" ER'd so soon at 31. *But the only reason that could happen is cause I make enough for her to do so.

I see nothing particularily special at all about a family where one adult is still working. *Either my wife or I could do that now at 33 and 31.
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Re: Politically Correct Retirement
Old 04-20-2005, 12:58 PM   #47
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Re: Politically Correct Retirement

Hey John, I think Jarhead has seniority over you. And there is the working spouse---though I give you credit for jumping into ER before you had the working spouse and I give you lots of credit for going from being a spender to frugality. All you have to do is work on the Ayn Rand thing.

:-/





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Re: Politically Correct Retirement
Old 04-20-2005, 01:26 PM   #48
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Re: Politically Correct Retirement

Yeah JG, I never had a problem with someone with a working spouse...especially since I've grown one in the past year

But isnt it a bit disingenuous to say "I quit with meager resources and no plan and using sheer brainpower and willpower ER'ed successfully!" ?

Anyone could run out the door with a couple of hundred thousand, live a little below their means for a change, and latch onto a working spouse a couple of years later.

Is that a 'successful ER'? I wouldnt think so and I dont think a lot of other people would either.

Not to mention, a lot of guys do it without bringing their own money cushion. They're called "leeches".

But I do like you and a lot of what you have to say. I just wouldnt follow your advice to leap without proper financial support and then look after the leap is well underway...
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Re: Politically Correct Retirement
Old 04-20-2005, 03:16 PM   #49
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Re: Politically Correct Retirement

Quote:
IMHO, that
advantage should be offset by my almost complete lack of foresight and planning * * :) *JG
Speaking as a quant-driven INTJ nuclear engineer whose spouse is also employed PT, I think John's story appeals to everyone's inner "rebel without a clue"...
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Re: Politically Correct Retirement
Old 04-20-2005, 03:39 PM   #50
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Re: Politically Correct Retirement

[quote=th l

But isnt it a bit disingenuous to say "I quit with meager resources and no plan and using sheer brainpower and willpower ER'ed successfully!" ?

Anyone could run out the door with a couple of hundred thousand, live a little below their means for a change, and latch onto a working spouse a couple of years later.

Is that a 'successful ER'? *I wouldnt think so and I dont think a lot of other people would either.

[/quote]

Hello th! You post some excellent stuff. I am impressed
and that is not easy to do.

No, I don't think I am being "disingenuous" at all.
When I quit in 1993, I had one child at home, an acquisitive wife,
lots of debt and other problems. I did it anyway.
Finding a new working spouse was not in the plan
(actually there was no plan). Anyway, I would be ahead
financially if I was still single. Thus, no one can
diminish what I did based on my marital status.

JG
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Re: Politically Correct Retirement
Old 04-20-2005, 03:57 PM   #51
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Re: Politically Correct Retirement

my score was 28, but Jimmy Crack Corn and I don't care

rough day in Court today
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Re: Politically Correct Retirement
Old 04-20-2005, 04:52 PM   #52
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Re: Politically Correct Retirement

I've had many "rough days in court". Doubt I am done yet.

JG
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Re: Politically Correct Retirement
Old 04-20-2005, 06:27 PM   #53
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Re: Politically Correct Retirement

Quote:
No, I don't think I am being "disingenuous" at all.
When I quit in 1993, I had one child at home, an acquisitive wife,
lots of debt and other problems. I did it anyway.
Finding a new working spouse was not in the plan
(actually there was no plan). Anyway, I would be ahead
financially if I was still single. Thus, no one can
diminish what I did based on my marital status.
I think the point is, had you continued down the path you were on, you most likely would have ended up broke within a decade or been back to work.

Maybe not...but very likely.

The story that one can bail out with under a half million in hand and more than 15 years before social security and make it? Boy, that'd be living in a subterranean cellar a few miles below most peoples LBYM level...

But if what you mean is that its a nice idea to get the heck out of a bad work situation and figure things out from there, heck, thats what I did. I didnt think I had the means to make it, although I found out that I did.

My working wife (she just wont quit!) certainly improves my odds from 98% to 100%+...and I honor and respect her contributions whenever I can. I certainly dont claim that my own brainpower and willpower are what will be getting us to the end...it'll be both of our mutual hard work, discipline and contributions that do it.
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Re: Politically Correct Retirement
Old 04-20-2005, 06:56 PM   #54
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Re: Politically Correct Retirement

Hey th! You left out one option. Should be
"broke within a decade, back to work, or DEAD". Anyway, we will
never know now, will we?

JG
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Re: Politically Correct Retirement
Old 04-21-2005, 05:04 AM   #55
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Re: Politically Correct Retirement

Quote:
I think the point is, had you continued down the path you were on, you most likely would have ended up broke within a decade or been back to work.

Maybe not...but very likely.

The story that one can bail out with under a half million in hand and more than 15 years before social security and make it? Boy, that'd be living in a subterranean cellar a few miles below most peoples LBYM level...
Exactly Th.

Really, i'm not trying to pick on you so much JG as I am concerned about supporting that everyone that comes here be responsible about their ER plans. I highly disagree with your "just do it" approach, as I think it should be planned. As much money as you made at one point JG, surely someone smart enough to do so can see the value of planning. Its not like it takes months, weeks, or even days.

Part of it, I guess, depends on your skills and job field. I'm in a highly specialized niche of the job market where I had to expand my job search to, literally, the SE US to have a reasonable chance of getting employeed for what I do. Point being, when the day comes that I am going to retire, I need to be very careful I wont need to come back, because coming back might just be impossible.

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Re: Politically Correct Retirement
Old 04-21-2005, 06:01 AM   #56
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Re: Politically Correct Retirement

A single person with 500k, unemployed, renting, in todays market. Easy.

Psst - Wellesley and don't live in any high cost of living areas. Someplace nice like Nickelson, Ms instead of high cost Picayune.

Back in the days of $50/day budgets we beat to death on this forum - doable BUT not what most dream about
for ER and the Margin of Safety is chewy to paraphrase Ben Graham.

My plan was 63, ended up an 'accidental ER' at 49. History's kind winds(1993 - 2004) and a variety of 'lucky circumstances' have colored my view somewhat.

Being left handed INTJ - plan out the wazoo, with backups AND always, always replan when the serendipity of life arrives.

The central nugget of this forum for me - how to be a really cheap bastard on a day to day basis - so I can get wild and frivolous with MY Margin of Safety when the mood strikes.

Plan,plan plan, - budget, budget, budget!

Heh, heh, heh.
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Re: Politically Correct Retirement
Old 04-21-2005, 06:38 AM   #57
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Re: Politically Correct Retirement

Azanon and unclemick..............outstanding posts.

For azanon mostly, I am not really advocating my "no plan" approach to anyone. I just tell my story because it's interesting (at least the first time you hear it )
and to show what can be accomplished just by "brainpower and willpower". BTW, regarding employment and employability, this was never much
of a concern in my entire life. Even before I became
a fully fledged entreporenuer, I always felt you could
set me down anywhere in the USA and I could make a
lot of money starting only with what was between my ears. (Job? We don't need no stiiiiiiiiiiinking job!)
I can't remember a time when I doubted that.
Also, re. making all that money and spending it all,
I had some help (my ex,) . But, truly, until the ER idea hit like a thunderbolt, I just assumed I would do what I was
doing indefinitely. Seems ridiculous now, but I'll bet
lots of folks don't figure it out until it's way to late to do
anything about it. These are the "die-at-your-deskers"
that C-T refers to.

For unclemick. Now that I am in ER, I agree with you:
"plan, plan, plan.......budget, budget, budget".
The planning I do now, big-time, but still no "real"
budget. I think you should do it. I am just too lazy.
Unclemick, you don't strike me as the "budget type"....
Do you really stick to one? Inquiring minds want to know

JG
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Re: Politically Correct Retirement
Old 04-21-2005, 06:45 AM   #58
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Re: Politically Correct Retirement

Quote:
Even before I became
a fully fledged entreporenuer, I always felt you could
set me down anywhere in the USA and I could make a
lot of money starting only with what was between my ears. (Job? We don't need no stiiiiiiiiiiinking job!)
I can't remember a time when I doubted that.
I'll admit, i'm envious of anyone with this ability. I just dont have it. I'm sort of the book smart/good in school type, but I really struggle with people interations of the magnitute that it would take to make money on my own. I'd be too afraid to even try it anyway. I need a preestablished job, where my resume matches, and I have clear directions. Its a handicap I know, but I have to work within my limitations.
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Re: Politically Correct Retirement
Old 04-21-2005, 09:06 AM   #59
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Re: Politically Correct Retirement

Quote:
From JG: I am not really advocating my "no plan" approach to anyone. I just tell my story because it's interesting (at least the first time you hear it )
and to show what can be accomplished just by "brainpower and willpower".
I'm an INTJ with spreadsheets and plans 'till Tuesday. But I'm also a 48-year-old late-starter with "only" $500K or so to my name. AND, I work part time for a company that just led the stock market into the tank and is talking "reorganization." (Translation: I'm at the top of the list to lose the job I've got, and in the wrong industry / too old to easily get another one that pays this much.)

So... I have a plan, but I've also studied JG's numbers and appreciate knowing that if my plan doesn't pan out I won't necessarily be living under a bridge somewhere. If the $2-million-plus folks were the only ones who posted here, I'd lose all hope and what little sanity I have left!

Caroline
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Re: Politically Correct Retirement
Old 04-21-2005, 09:28 AM   #60
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Re: Politically Correct Retirement

I have a strong suspicion (and yes SG and GD-ER, no actual facts) that in the small town I grew up in there are a number of people, mostly men, who left the workforce with little, long before social security kicks in.

I think some just got sick of being laid off from the Peat plant, or too tired to work as a logger or in construction anymore. The may have had some savings, lived in a Minnesota Special (manufactured home on 40 acres, maybe with a cow and a few chickens), or in a little house they built themselves, bartered to meet a lot of their needs, and hung on until Social Security kicked in. Health insurance?
Who goes to a doctor anyway? Tough life.
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