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Blogger lists 14 reasons not to retire early
Old 02-13-2012, 05:44 AM   #1
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Blogger lists 14 reasons not to retire early

You may know "EmergDoc" from the Boglehead forum. He is a nice blog now.

Here he lists 14 reasons why you should not retire early. Whaddaya'll think?

14 Reasons Why You Shouldn
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Old 02-13-2012, 06:01 AM   #2
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Quote:
Originally Posted by Gerbil Wheel View Post
You may know "EmergDoc" from the Boglehead forum. He is a nice blog now.

Here he lists 14 reasons why you should not retire early. Whaddaya'll think?

14 Reasons Why You Shouldn
Why not list the 14 so members here can answer without having to open a link

1 you have to save a lot
2 you have to replace social security
3 You have to bridge the health insurance gap
4 immediate annuities should not be bought in your 50s
5 You don't benefit from catch up contributions
6 you have to figure out how to get your money from retirement accounts before age 59 1/2
7 you have less time to pay the mortgage
8 you have less time to pay off educational debt
9 college for the kids becomes a much smaller hurdle
10 we have a progressive tax system
11 retirement is longer but not as comfortable
12 you'll have to be smarter about investing
13 early retirement can impinge on lifestyle decisions
14 the identity crisis
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Old 02-13-2012, 06:11 AM   #3
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I think the main problem is that you still have to w*rk. By the second reason, they all started to sounds like "blah blah blah....".
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Old 02-13-2012, 06:18 AM   #4
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Those that can, do.
Those that can't, write/blog why anybody else shouldn’t either.

Heck, he's only started his career, and one that does not necessarily guarantee a good life in today's political climate, along with the personal risk of malpractice issues. Add to that the reality that he has many more years of education required before he can get a "normal" paycheck puts him at a disadvantage, age wise. I have no problem with the advanced degree (I certainly would not go to an MBA for medical advice), but it is a factor for him but not necessarly all folks. Add to that the educational expenses accrued over many years. Quite a hole to dig himself out of even before considering retirement (at any age).

Let him get back to us when he has a few years under his white coat. ...
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Old 02-13-2012, 07:55 AM   #5
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Originally Posted by MichaelB View Post
Why not list the 14 so members here can answer without having to open a link

1 you have to save a lot
2 you have to replace social security
3 You have to bridge the health insurance gap
4 immediate annuities should not be bought in your 50s
5 You don't benefit from catch up contributions
6 you have to figure out how to get your money from retirement accounts before age 59 1/2
7 you have less time to pay the mortgage
8 you have less time to pay off educational debt
9 college for the kids becomes a much smaller hurdle
10 we have a progressive tax system
11 retirement is longer but not as comfortable
12 you'll have to be smarter about investing
13 early retirement can impinge on lifestyle decisions
14 the identity crisis
1. I did.
2. I have.
3. I did.
4. I don't have any and don't need any.
5. I don't need any.
6. I don't need to.
7. I already paid it off 10 years earlier.
8. I already paid mine off 21 years earlier.
9. No kids.
10. So what? That helps!
11. Not true. And it is FAR more comfortable than working.
12. I am!
13. No it doesn't (not for me).
14. Huh?

Next?
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Old 02-13-2012, 09:43 AM   #6
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Originally Posted by scrabbler1 View Post
1. I did.
2. I have.
3. I did.
4. I don't have any and don't need any.
5. I don't need any.
6. I don't need to.
7. I already paid it off 10 years earlier.
8. I already paid mine off 21 years earlier.
9. No kids.
10. So what? That helps!
11. Not true. And it is FAR more comfortable than working.
12. I am!
13. No it doesn't (not for me).
14. Huh?

Next?
+1

Sounds like this guy is just justifying why he can't retire. My guess is he hasn't done #1 on his list.
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Old 02-13-2012, 09:50 AM   #7
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These posts seem to provoke the same responses from the same members (some unnecessarily offended or threatened, some accepting but not in agreement, some just accepting without a need to judge others choices). So I just copied mine from the last thread.

(Early) retirement is a wonderful goal and the bulk of the crowd here. But if an individual chooses to work or come out of retirement, there's nothing whatsoever wrong with that either...
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Old 02-13-2012, 09:55 AM   #8
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Originally Posted by Midpack View Post
These posts seem to provoke the same responses from the same members (some offended or threatened, some accepting but not in agreement, some just accepting). So I just copied mine from the last thread.

(Early) retirement is a wonderful goal and the bulk of the crowd here. But if an individual chooses to work or come out of retirement, there's nothing whatsoever wrong with that either...
You are correct. But keep in mind that the blog entry is entitled "Why you shouldn't retire early". Maybe he should have titled it "Why I am not retiring early"!
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Old 02-13-2012, 11:34 AM   #9
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Most of those supposed reasons not to retire early, are not that. Instead he has listed obstacles that one must overcome in order to retire early, such as bridging the gap to SS and health insurance, and that you have to save a lot.

My goodness. Nobody said it was easy! If we dropped every goal in life that presented obstacles to us, none of us would have ever accomplished anything in our lives.
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Old 02-13-2012, 11:40 AM   #10
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Most of those supposed reasons not to retire early, are not that. Instead he has listed obstacles that one must overcome in order to retire early, such as bridging the gap to SS and health insurance, and that you have to save a lot.

My goodness. Nobody said it was easy!
I agree.
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Old 02-13-2012, 11:47 AM   #11
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People who write artcles like this don't seem to realize that there are millions of workers for whom the alternative to early retirement is a complete nervous breakdown.
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Old 02-13-2012, 11:51 AM   #12
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I won't comment of this particular point as you all know what I will say anyway, so what is the sense in that?

I would like to say that this guy's blog is good; he has his information right and his head screwed on straight.

Now if that doc gets some kind of public subsidy for his early training, and hightails it into the navy or air force or even the VA to do residency and practice, s/he'll beat the pants of all but very few private practice docs, and teachers as well.

Another thing is that early retiring doctors represent a terrible social waste. If the practice of medicine had not been allowed to become so hideous, likely most doctors would want to go on working.

Ha
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Old 02-13-2012, 12:16 PM   #13
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I think that, for at least THIS forum, he missed the "F.I." part.

By definition, many of us have accomplished most of his list via hard work, smarts and a little luck. It is not about RE at any cost...it's about RE once you've reached FI.
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Old 02-13-2012, 12:41 PM   #14
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My goodness. Nobody said it was easy! If we dropped every goal in life that presented obstacles to us, none of us would have ever accomplished anything in our lives.
Well said! If I did needlepoint, I think I'd put something like that on a pillow!
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Old 02-13-2012, 12:55 PM   #15
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Originally Posted by Midpack View Post
These posts seem to provoke the same responses from the same members (some unnecessarily offended or threatened, some accepting but not in agreement, some just accepting without a need to judge others choices). So I just copied mine from the last thread.

(Early) retirement is a wonderful goal and the bulk of the crowd here. But if an individual chooses to work or come out of retirement, there's nothing whatsoever wrong with that either...
And I'll copy one from another thread...

Quote:
Originally Posted by 73ss454 View Post
This is the "Early Retirement Forum" ya know!
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Old 02-13-2012, 02:18 PM   #16
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Originally Posted by W2R View Post
Most of those supposed reasons not to retire early, are not that. Instead he has listed obstacles that one must overcome in order to retire early, such as bridging the gap to SS and health insurance, and that you have to save a lot.

My goodness. Nobody said it was easy! If we dropped every goal in life that presented obstacles to us, none of us would have ever accomplished anything in our lives.
+1
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Old 02-13-2012, 02:30 PM   #17
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To EmerDoc's credit, he started a Bogleheads thread about military investing issues that morphed into a wiki entry:
Military finances - Bogleheads

I think doctors are largely a profession that has no incentive to ER, and (as he notes on his blog) many of them barely achieve FI.

Having said that, I know a military doctor who's already close to FI and intends to ER the minute he hits his 20 years of service. And yes, he has taken surfing lessons. Some of them really do understand...
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Old 02-13-2012, 02:54 PM   #18
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I believe I saw his writing to the effect that he was FI. I very much admire EmergDoc. He does incredible work with providing medicine for the extremely disadvantaged in third-world countries. Maybe his chosen profession is also aligned with a high-minded vision for his life. Some people work to the end, because they are involved with an activity that turns out to be a priceless gift for mankind.
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Old 02-13-2012, 04:35 PM   #19
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Quote:
Originally Posted by MichaelB View Post
Why not list the 14 so members here can answer without having to open a link

1 you have to save a lot
2 you have to replace social security
3 You have to bridge the health insurance gap
4 immediate annuities should not be bought in your 50s
5 You don't benefit from catch up contributions
6 you have to figure out how to get your money from retirement accounts before age 59 1/2
7 you have less time to pay the mortgage
8 you have less time to pay off educational debt
9 college for the kids becomes a much smaller hurdle
10 we have a progressive tax system
11 retirement is longer but not as comfortable
12 you'll have to be smarter about investing
13 early retirement can impinge on lifestyle decisions
14 the identity crisis
Sounds like the only problem is not having enough money saved. If you don't have any debt, no longer pay for dependents, and have plenty saved for a comfortable retirement, then he has no argument.

Yes, the younger you retire, the more money you need to have saved. That is all. Of course it's self-evident that it's harder to save enough money to retire earlier than later ('cause you have less time to save it or to let the investments grow, and when you reach your 60s you start to be eligible for programs like SS and Medicare which lower the financial burden and you can start withdrawing from your IRAs). But other than that - no argument!
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Old 02-13-2012, 04:41 PM   #20
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Most of those supposed reasons not to retire early, are not that. Instead he has listed obstacles that one must overcome in order to retire early, such as bridging the gap to SS and health insurance, and that you have to save a lot.

My goodness. Nobody said it was easy! If we dropped every goal in life that presented obstacles to us, none of us would have ever accomplished anything in our lives.
Very well said!!!!!
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Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
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