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View Poll Results: Minimum time retired to not feel cheated
If I'm out one day it will be enough 14 5.38%
1 year minimum 10 3.85%
5 years 6 2.31%
10 years 26 10.00%
20 years 120 46.15%
30 years or more 64 24.62%
Other 20 7.69%
Voters: 260. You may not vote on this poll

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Old 04-28-2019, 08:22 PM   #81
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I'm going for 700 monthly pension checks...I just got my 12th, so 688 more to go... I also want to be the second to last person posting on this board...I'm pretty sure there's no outlasting FUEGO in retirement...He seems like he's got this retirement stuff nailed...

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I'm not even at month #70 yet. We both have a long way to go!!
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Old 04-29-2019, 01:45 PM   #82
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Originally Posted by kcowan View Post
I answered 20 but I really think 25 is more accurate.
^ this.

Also, I took the Survivor Benefit Plan (SBP) for my wife when I retired from the Navy. The premium for it comes out of my monthly retirement check but it is fully paid up after 30 years. I'd like to get at least one retirement check without that SBP premium deduction. Since I worked for several years post-Navy, I'll achieve paid-up status at just about 25 years of real retirement.
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Old 05-06-2019, 06:10 AM   #83
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I’ve never really thought of retirement this way. I don’t see myself as owed any amount of time nor will I feel cheated if I don’t get X years of retirement in before I die or get to be unable to enjoy life due to health issues.

Having said that I voted for 20 years. I guess my ideal retirement does allow me this kind of time to fit in all the things I didn’t get to do during my working years.

I’ve just started to seriously think about retirement recently. I can see a path to an ER in 5-7 years. At that time I will be 50-52 years old.

I don’t think I’d feel cheated if I hit my target and then passed away at say 55 years old for whatever reason. In fact, I’d be grateful that I was in a position to retire in my early 50s and had those few years of freedom at the end of my life.

It’s funny but retirement planning almost always focuses on making sure you don’t outlive your money. But there is a risk that you focus too much on money while neglecting to realize that time is your most precious commodity.

The funny thing is I don’t necessarily want to stop working down the road. I just want a more flexible work/life balance that gives me more freedom to pursue my dreams. Maybe I can find a part time remote position in a few years that will give me that freedom?

I worked a demanding job where I was restricted to be in one small pharmacy all day long on my feet for long hours for 18 years until I quit last year. It turned out I left just prior to the company announcement that there would be store closings that would have put me out of a job. I knew this was coming and wanted to get a head start searching for a new job plus I was upset they were going to do this to me after working hard for them for over a decade. That job took much more of a physical and mental toll on myself than I ever realized until I finally left.

After being out of work for about six months last year I found a consulting job where I’m at a desk all day but working conditions are better. My time is very structured but it’s still better than before and I get to eat lunch now.

I hope to gain a little experience at my current job and have that experience open exciting new doors for me professionally. Even if that doesn’t happen I can see a pathway to being financially able to call it quits in a few years.

I’m positive that the day after I retire I will wake up and tell my wife if I die I’ve died happy. My only real thought now is that I hope I can retire while my parents are still alive to spend some time with them.

Making the decision to retire earlier than a traditional retirement age will give me freedom that I may miss if I keep working. For that reason I will be thankful for whatever time I will have after I call it quits. I will be thankful for all of my blessings and not dwell on why I didn’t get more time.
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Old 05-06-2019, 09:53 AM   #84
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Itís funny but retirement planning almost always focuses on making sure you donít outlive your money. But there is a risk that you focus too much on money while neglecting to realize that time is your most precious commodity.
I feel like I'm going through some of this ^^^. Firecalc has us at 100% but I keep thinking maybe I should work another year or two (etc.) in order to have more 'play money'. Or if I worked 3-4 more years, we'd have LOTS of play money. But at what cost? I'd be 64-65 years old by then and what have I missed out on while our health is fairly good? I guess that's the essence of OMY.
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Old 05-06-2019, 11:04 AM   #85
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Originally Posted by friar1610 View Post
Since I worked for several years post-Navy, I'll achieve paid-up status at just about 25 years of real retirement.
I think I will revise my answer to 30. We just bought a new construction snowbird condo, and all the work in specifying things and furnishing is going to need at least 10 years payback! Let alone selling our current one!
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Old 05-06-2019, 09:29 PM   #86
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I feel like I'm going through some of this ^^^. Firecalc has us at 100% but I keep thinking maybe I should work another year or two (etc.) in order to have more 'play money'. Or if I worked 3-4 more years, we'd have LOTS of play money. But at what cost? I'd be 64-65 years old by then and what have I missed out on while our health is fairly good? I guess that's the essence of OMY.
Good luck with your decision. Iím not quite in your position financially yet but Iím sure when I get to that point I will also struggle choosing what to do. I guess you just have to accept that whatever you choose youíve done your homework and picked the best option for your individual circumstances.
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Old 07-13-2019, 12:04 PM   #87
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Itís funny but retirement planning almost always focuses on making sure you donít outlive your money. But there is a risk that you focus too much on money while neglecting to realize that time is your most precious commodity.
I feel like you just hit the nail on the head. Squarely!

This is why we have been willing to be retired now and are out living our life fully every single day NOW even if we don't have all the "facts" on how long we'll live or how much we'll need or if the money will run out too early.

No doubt most on this forum (and every single financial advisor ever) will tell us that we're stupid because of the "what if the money runs out too soon?" question.

We prefer/choose to look at the future and wonder "what if I die too soon?".
The simple fact is... that none of us know when we'll die, and i'm guessing when that happens most of us will feel cheated anyway because we would always hope for "one more day".

Rather than worrying about feeling cheated, why not change the rules of the game completely and live every single day now as though it's our last?
I can honestly say that after only 7years of living that way... that I am comfortable dying (not that I hope to) today or tomorrow because I've been living life on my own terms and without regrets... which means I cant possibly feel cheated.

Im not working (unless I choose to) in what feels like the prime of my life and feel as though i'm living my best life every single day.

IF we've done our math wrong and we outlive our money... than HA!
At whatever age that is, then I'll feel like we've cheated the system (and death) and can figure out the money issue then (or like we have all the way along, before becomes an issue). The beauty is... we'll be alive to figure it out!!
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Old 07-13-2019, 12:37 PM   #88
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How long should your retirement last for you to feel it was worth sacrificing for?
I don't feel as if I sacrificed in order to achieve ER. Saving and living frugally is hardwired into me. Honestly - forcing myself to not save, and live at my means, instead of below them, would have been far harder. I'm currently in my mid-50's. If I found out that I didn't have long to live, I'd be pretty unhappy about that. It wouldn't be because of feeling cheated out of the fruits of my sacrifice though. It would simply be due to feeling that I'm a little too young to die.

I feel very lucky to be in a position to not have to go to work. Most people I know, both my age and older, are still working and living paycheck to paycheck. I feel very privileged to have already had 10 years of this ER life.

For this reason, I didn't vote.
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Old 07-13-2019, 01:29 PM   #89
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... I feel very lucky to be in a position to not have to go to work. Most people I know, both my age and older, are still working and living paycheck to paycheck. I feel very privileged to have already had 10 years of this ER life.
I agree.

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