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Retired at 45
Old 10-07-2016, 07:02 PM   #1
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Retired at 45

So I retired a year ago at 45 and went back to work at a school part time. The job is easy just 4 hrs a day 730am to 1130am ... weekends, all holidays and summers off.

The pay is only 20 dollars an hour.


My problem is this. I was a cop for 25 years and never had a holiday, weekend or summer off with my kids. So I'm really enjoying all this family time not to mention I'm stress free.

I know I could be making much more but then I would be working full time. So Im sacrificing this low pay to have a school schedule and lots of time off.

I look at most of our friends and they are working like mad. Most of them have more stuff then we do....Big houses, summer homes , additions, cars ... etc. they all seem so stressed out just wanting more.

We live in a small neat and clean 3 bedroom ranch, no fancy cars and no summer homes. We vacation a few times a year in the Caribbean and summer on Cape Cod at my parents house.

At 45 am i selling myself short by working this low paying school job ? Should I be busting my balls at a high stress job just to make more. ? I have a good pension and free medical and live within my means. We are happy and to me that's all that matters, but my friends make me feel like I should be hustling , making more while I'm still young.






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Old 10-07-2016, 07:11 PM   #2
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At 45 am i selling myself short by working this low paying school job ? Should I be busting my balls at a high stress job just to make more. ? I have a good pension and free medical and live within my means. We are happy and to me that's all that matters, but my friends make me feel like I should be hustling , making more while I'm still young.
I think you're making the right decision. For you. I'm also retired from law enforcement and also took a job for a while after retirement that was way below what I could have been making - if I had been willing to stay in a high-stress area and environment. I took the lower-paying security job in West Virginia instead of continuing with investigating computer crime/forensics in private industry. Had I gone that route I'd have started at six figures and gone on from there.

There was and remains no question in my mind that I made the right choice. For me.
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Old 10-07-2016, 07:14 PM   #3
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Don't tie your decision to work or not work based on what others think. The real question is what do you want? What makes you happy? If you are waiting for your friends to support your light workload now, I am afraid you have a long wait. Don't look for approval from others. It's hard to be friends with those who are working full time if you are not.
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Old 10-07-2016, 07:26 PM   #4
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Thanks, I feel the same. My wife and daughters love the fact that I'm around. I want my legacy to be a good father and husband that was home every day for them, not a guy that worked non stop and left them a pile of cash


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Old 10-07-2016, 07:40 PM   #5
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I think most ER folks, if they wanted to work at all, would love your situation. There are precious few jobs that pay more than $10 an hour PT, let alone $20.

I would even say many folks planning to ER would say they could retire 3-5 years earlier if they could ER into your situation.

If just a bit of income is enough, and you are otherwise ER'd, I'd say most like-minded folks would be jealous of you.
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Old 10-07-2016, 09:10 PM   #6
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Look at it this way... the real Sam Bellamy had already been at the bottom of Cape Cod Bay for 18 years by the time he was your age... )

You only live once.
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Old 10-07-2016, 10:03 PM   #7
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This seems to be a theme with me today on various message boards... "sacrifice".

Everyone makes sacrifices. We sacrifice our time for money. We sacrifice memories with loved ones so that we can support ourselves/them. We sacrifice things that would make us happy at the time for things we believe are more important to us or will bring us greater satisfaction in the future.

I could be making 50% more than I do now, but the headaches and stress associated with that path for my career weren't worth it. People could be retired now if they had chosen to not have a family, but being a parent/husband/wife was more important to them.

I haven't retired yet (still working towards my goals), but I have three milestones I'm shooting for. The first is "I can retire now and cover all my needs". The second is "I can retire now and maintain my current lifestyle". The third is "I can retire now and live the reasonable lifestyle I'd like to have".

For me, the second is "put in my notice when I am tired of the b.s. at work", because I know that, like you, there are part time jobs out there I can work to help me attain the lifestyle I'd like to have. More importantly, however, is the stress of working to pay the bills etc (that most people get imo) will be gone. That peace of mind is worth all the "why aren't you working at your age?" questions imo. I still have a few years left til I get there and even now I have family question my plans to retire early (including my retired mother who doesn't seem to understand that working for the sake of making money doesn't make any sense to me, working because I need to in order to reach financial independence is the only good reason to work a job I wouldn't do for nothing).

Life isn't supposed to be about making money, it's supposed to be about living life. That money is a requirement for that to happen is the only reason most people go to work. When work is no longer required to make that happen, going to work is pointless unless you'd do the job for free.
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Old 10-07-2016, 10:16 PM   #8
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Well said




Quote:
Originally Posted by exnavynuke View Post
This seems to be a theme with me today on various message boards... "sacrifice".

Everyone makes sacrifices. We sacrifice our time for money. We sacrifice memories with loved ones so that we can support ourselves/them. We sacrifice things that would make us happy at the time for things we believe are more important to us or will bring us greater satisfaction in the future.

I could be making 50% more than I do now, but the headaches and stress associated with that path for my career weren't worth it. People could be retired now if they had chosen to not have a family, but being a parent/husband/wife was more important to them.

I haven't retired yet (still working towards my goals), but I have three milestones I'm shooting for. The first is "I can retire now and cover all my needs". The second is "I can retire now and maintain my current lifestyle". The third is "I can retire now and live the reasonable lifestyle I'd like to have".

For me, the second is "put in my notice when I am tired of the b.s. at work", because I know that, like you, there are part time jobs out there I can work to help me attain the lifestyle I'd like to have. More importantly, however, is the stress of working to pay the bills etc (that most people get imo) will be gone. That peace of mind is worth all the "why aren't you working at your age?" questions imo. I still have a few years left til I get there and even now I have family question my plans to retire early (including my retired mother who doesn't seem to understand that working for the sake of making money doesn't make any sense to me, working because I need to in order to reach financial independence is the only good reason to work a job I wouldn't do for nothing).

Life isn't supposed to be about making money, it's supposed to be about living life. That money is a requirement for that to happen is the only reason most people go to work. When work is no longer required to make that happen, going to work is pointless unless you'd do the job for free.
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Old 10-08-2016, 01:06 AM   #9
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You are totally making the right decision! The people always hungry for more material things may never be sated, while it sounds like you have the good life going. As long as you live according to your values, you will be happy.


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Old 10-08-2016, 07:06 AM   #10
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.... We are happy and to me that's all that matters ....
There is your answer.

If you judge your success on what you want rather than your neighbors/acquaintances expectations then you have the right answer for you.

We keep hearing that experiences are more cherished than things.... and your being home more is an experience rather than a thing.
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Old 10-08-2016, 09:15 AM   #11
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I'm also 45. A few months ago I stumbled into some actuarial table that said I would likely croak at 85. Maybe sooner, maybe later, but for my demo making it to 85 was a good guess.

That's means I have 477 months left.

I decided to look at it this way: what % of my remaining months am I willing to trade for what % change in my net worth?

For me, that equation likely tips at 57 more months. I'm in a strong, peek earning years position -- I believe I can drive a 45% increase in net worth for 12% of my time.

At that point, we should have more than enough to ride it out in style...and the % draining from the hour glass will out weight the % change in the brokerage account.
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Old 10-08-2016, 09:26 PM   #12
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I'm also 45. A few months ago I stumbled into some actuarial table that said I would likely croak at 85. Maybe sooner, maybe later, but for my demo making it to 85 was a good guess.

That's means I have 477 months left.

I decided to look at it this way: what % of my remaining months am I willing to trade for what % change in my net worth?

For me, that equation likely tips at 57 more months. I'm in a strong, peek earning years position -- I believe I can drive a 45% increase in net worth for 12% of my time.

At that point, we should have more than enough to ride it out in style...and the % draining from the hour glass will out weight the % change in the brokerage account.
That is an impressive evaluation of your self and your goals. I have yet to look at an actuarial table on myself, not sure I want to see it ....
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Old 10-09-2016, 08:01 AM   #13
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That is an impressive evaluation of your self and your goals. I have yet to look at an actuarial table on myself, not sure I want to see it ....
Thanks. And yes, it was a bit eye-opening.
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Old 10-09-2016, 08:08 AM   #14
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Originally Posted by Blacksambellamy View Post
So I retired a year ago at 45 and went back to work at a school part time. The job is easy just 4 hrs a day 730am to 1130am ... weekends, all holidays and summers off.

The pay is only 20 dollars an hour.


My problem is this. I was a cop for 25 years and never had a holiday, weekend or summer off with my kids. So I'm really enjoying all this family time not to mention I'm stress free.

I know I could be making much more but then I would be working full time. So Im sacrificing this low pay to have a school schedule and lots of time off.

I look at most of our friends and they are working like mad. Most of them have more stuff then we do....Big houses, summer homes , additions, cars ... etc. they all seem so stressed out just wanting more.

We live in a small neat and clean 3 bedroom ranch, no fancy cars and no summer homes. We vacation a few times a year in the Caribbean and summer on Cape Cod at my parents house.

At 45 am i selling myself short by working this low paying school job ? Should I be busting my balls at a high stress job just to make more. ? I have a good pension and free medical and live within my means. We are happy and to me that's all that matters, but my friends make me feel like I should be hustling , making more while I'm still young.






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I retired 8 years ago at 45 and am living fine off monthly bond fund dividends. But if I felt I needed a little bit of wage income to supplement it, I'd gladly take an easy, low-paying job which was local, and I mean very LOCAL (very short commute). I was earning nearly $50 an hour in my final year of work (it was only part-time in my last 7 years of work) but I'd be willing to take a huge cut in that.
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Old 10-10-2016, 01:38 PM   #15
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My opinion- congrats on making it to where you are today. If you've got the finances to support your family, then you're set (so if it was me, I wouldn't be working more). That makes me ask: why would you be asking anybody other than yourself and your wife the question that you've asked? What is it that you're concerned about?
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Old 10-10-2016, 05:00 PM   #16
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Originally Posted by Blacksambellamy View Post
Thanks, I feel the same. My wife and daughters love the fact that I'm around. I want my legacy to be a good father and husband that was home every day for them, not a guy that worked non stop and left them a pile of cash


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Well said! I think you have made the right decision for you and i agree with you completely.

At a Christmas party ( I can't remember how this came up) I told a friend that I am happy with what I have- he and another friend blinked at me and said they would never be satisfied. I thought that was one of the most depressing things I'd ever heard. To each his own I guess
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Old 10-10-2016, 05:34 PM   #17
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I posted the question because so many people were telling me I had lots of earnings years left and I should be hustling. literally nobody except for my wife backed me up on my decision to retire. It's crazy to me that so many people are money hungry that they don't take the time to appreciate what they have.

I just remember what this old man told me as he was close to death. He said: Son, retire when you can , enjoy your life and spend your money......life goes fast ... and just remember you will never see a brinks truck following a hearse.
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Old 10-10-2016, 06:14 PM   #18
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I retired a little older than you (at 52)... but I have kids at home. There is no greater thing that having the time to spend with them. They're teenagers - so it's a good time to be involved and paying attention to them - since this is when they can really screw things up. (I was a teenager - I remember the stupid things I did.)

I don't think you'll regret spending more time with your kids.
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Old 10-11-2016, 04:05 PM   #19
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Had I stayed 18 more months, I would have been eligible for a "package" (generous at that.) I was talking to DW about that recently and we agreed that the extra 18 months away from that place was worth more than anything I might have gotten. Had we been "short" of our financial goals at the time, I would have stayed - package or not. Being FI, the decision was easy and I don't regret it - though once in a while I find myself doing the old "what if?" in my mind. DW quickly sets me straight.

Blacksambellamy, I think you answered your own question in the first post of this thread. You made the right decision. YMMV
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Old 10-11-2016, 04:36 PM   #20
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I posted the question because so many people were telling me I had lots of earnings years left and I should be hustling. literally nobody except for my wife backed me up on my decision to retire. It's crazy to me that so many people are money hungry that they don't take the time to appreciate what they have.
I had somewhat the same thing happen. When I retired I was at the top of my game in the then-new field of computer forensics and with my LE experience with evidence handling and such, in private industry discussion began at six figures and could go rapidly up from there. But it is also a high-stress field and I'd have had to stay in the Washington, D.C. area and all that traffic.

I walked away from it. Ran is a more accurate term - I retired July 1, 2002 and by mid-September we were living in WV. We did discuss for a long time whether this was a good idea but it was a done deal by then. Six months after we moved my sister said "I haven't seen you two looking so relaxed in years". That removed any lingering doubt.
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