Stop Waiting! A Rant

[Helena]

.

A close friend recently died at age 65. A few months later another friend died at 66.

Every day that passes I am glad I retired at age 55.

 

[Milton]

A book you might enjoy

So far, at age 64, I'm healthy and can do most everything I want to do, but I know that won't last forever. That thought pushes me to keep moving, keep exercising, keep eating healthy, and stay passionate about doing/trying new things.

 

[joeea]

He is not interested in working outside of his field.

So he has decided to stay "retired early" rather than change fields. Lots of folks make that same decision.

But you indicated that "It would be much better for him if he was still working". Would it be much better only if he were still working in the same field?

 

[Teacher Terry]

He doesn’t like not working. But he doesn’t want to work at Home Depot either.

 

[joeea]

He doesn’t like not working. But he doesn’t want to work at Home Depot either.

I understand. We all have to make decisions sometimes. And there are always tradeoffs. I'm guessing there are more than two options available. But it all comes down to motivation. Personally, I don't enjoy Sudoku and don't watch much television.

For me, I've been retired for a few years. The first year I went back to my prior company and consulted for a year. I'd do it again if they needed my help, but I'm not looking elsewhere for a consulting gig.

At the moment, my time is filled with activities I enjoy. When my wife and I move to our seaside home next year, I may decide to do some volunteer work. Then again, I may decide my hobbies are taking up so much of my time I don't have time to work. My wife has several part-time jobs that she is considering, as that's what she will enjoy. None of those potential jobs are in her current field.

I hope you and your husband find activities that you both enjoy and which fill your days with happiness.

 

[Sunset]

......
But now, I’m 66 and will soon be 67. Wow! THIS is bothering me. A lot!

....
Short story: I’m starting to see the horizon and I don’t like it one bit! Not one bit at all.

...enjoy what you got”. Well, those “15, 18 years” are now more like 8 or 11.

But still. More and more I find myself thinking things like: ‘well, in 25 short years it won’t matter to me one way or the other’.
....

I'm not as old as you, and frankly I've been thinking about this a lot. It truly makes me sad to know in 10->20 years I'm dead...so I can only hope to count on 10 more years of active life.

I'm glad we have taken a couple of trips to Europe, and I hope we get in some more long trips in the next 10 years... just in case that is all there is..

In many ways I wish I could be optimistic about longevity like I was when I was 30, time seemed infinite. Now I think about projects example build a cabin retreat and realize it's not worth the effort as I'll only get to use it for a few years, by the time it's done.

 

[IMATERP]

Today I turned 58 years old. I took a package one year and one day ago. I placed 1/2 of assets in CDs and Bonds 10 months ago and have never looked back.

In 2 weeks wiey and I are taking a 10 day cruise to Aruba. I am planning our 2020 cruise right now from Portugal back to the U.S. obviously, no time for w@rk.

I

 

[HI Bill]

When my father was 58, he was walking the golden retriever one week before he planned to hike down into the Grand Canyon and back. He felt light-headed, then went to see a cardiologist. Had massive blockage, and that day, had a 5-way bypass surgery. If he'd gone to the Grand Canyon, he wouldn't have made it down the hill, much less up.

I saw an overweight guy who was unconscious once at some waterfalls at the bottom of a 1/4-mile trail. It was his second or third heart attack, and his last.

Point is, you never know how long you've got. Once you have 'enough' to maintain the lifestyle you're happy with, get on with FIRE! I'm headed out teh door next year, barring another 20% market drop.

 

[jimbee]

True but that 90k is pre-tax so it's probably closer to 75k.

$25,000 sounds like a lot of tax on $90,000, unless you're including more than just federal and state income tax.

 

[joeea]

$25,000 sounds like a lot of tax on $90,000, unless you're including more than just federal and state income tax.

... or maybe $15,000.

 

[HadEnuff]

Marko, I feel your pain, but my conclusions are somewhat different. I wouldn't encourage or discourage anyone to RE. I retired at 62, which was perfect for me. Everyone has to make their own way down that psychological path.

However, I recently turned 65, (well, hell, I guess it wasn't that recently. It was 3 months ago), and DW was worried about the money we are spending to snowbird this year. I remind ed her that in in 15 years I would be 80. To me, that's the message.

Do what you feel you want to do, or need to do, but remember that while your odds of living past 80 are pretty good, the odds of being healthy and vigorous and able to enjoy things like travel and other forms of recreation, aren't that great past 80...

 

[Carpediem]

$25,000 sounds like a lot of tax on $90,000, unless you're including more than just federal and state income tax.

Actually the calculated tax is $13,500 - $90k x 15% (fed and state) = $76,500. That tax rate is probably high but better safe than sorry.

 

[marko]

Marko, I feel your pain, but my conclusions are somewhat different. I wouldn't encourage or discourage anyone to RE. I retired at 62, which was perfect for me. Everyone has to make their own way down that psychological path.

...and DW was worried about the money we are spending to snowbird this year. I reminded her that in in 15 years I would be 80. To me, that's the message.

Yeah. I wasn't really trying to encourage anyone who isn't ready but simply offering a 'time is short' perspective.

 

[fosterscik]

Actually the calculated tax is $13,500 - $90k x 15% (fed and state) = $76,500. That tax rate is probably high but better safe than sorry.

You forgot the mfj exemption.[emoji41]
(90-24)*0.15=9.9k at worst for your taxes

 

[jimbee]

... or maybe $15,000.

Oops, gotta pay closer attention to arithmetic and typing.

 

[jimbee]

Actually the calculated tax is $13,500 - $90k x 15% (fed and state) = $76,500. That tax rate is probably high but better safe than sorry.

Ok, please excuse my error.

 

[RunningBum]

I see these rants a lot here and I honestly don't understand the point.

My best guess is that it makes people feel better about their own decisions when they encourage others to take the same path. Hopefully the ranters aren't unsure they made the right decision.

My advice is for people to try and live every day to the fullest and not to wait until they retire (early or otherwise, forced or voluntary). Do whatever it is that makes you and your family happiest. Enjoy what you are doing throughout your life and you'll always be happy.

I pretty much agree, though I haven't given thought to the motivations of these posters.

I'm happy to look at someone's financial situation and give my opinion whether they can retire. But it's not my place to tell someone they should retire, and it certainly wouldn't be a rant if they don't.

 

[Teacher Terry]

A good friend of mine didn’t want to retire. Unfortunately, after surviving stage 4 cancer all the chemo through the years gave her early Alzheimer’s and she had too. It was sad. I still teach my online college class because I love it. I also do a little consulting. Everyone is different.

 

[ER Eddie]

Thanks for the reminder, marko. It's easy for me to stay in the familiar rut, squirreling away more nuts for winter. But if I keep doing that, life dries up.

I not facing death with any great fears -- in fact, it sounds like the ultimate retirement package, from what I've heard -- but this is still the only life I'll ever have, as me. I'll be damned if I waste it trying to pile up a little more money, when I clearly don't need any more.

 

[Luck_Club]

Sad topic:

Was at my local grocery store today and mentioned I hadn't seen "the butcher" in a while. Is he still around? "No he passed 4 months ago." was the reply. She went on to say he had recently decided he was going to retire this January. He was 62, and died in his chair before going to work 1 day.

FWIW I've made the conscious decision to continue on at my very low stress work at home job until it interferes with what I want to do. Stories like the above are sad reminders of how fortunate I am to have the flexibility to work from anywhere in the world, and make great money for very little "scheduled" commitment of my time.

 

[jollystomper]

As a former OMYer, my main suggestion for those who chose to wait is, if possible, to start scaling back and begin the transition to your retirement, so that you aproach retirement as a "glide path" and not a sudden crash landing.

Everyone has different circumstances varies. For me my OMY time included:
- Mentally preparing to be layed off by Megacorp, if Megacorp chose to do so.
- Continuing to contribute (and not burn bridges) at work, but to give others more responsibility (and more glory) for things I would normally have done.
- Reduce the job stress as much as possible (being prepared to go makes so many job "issues" seem trivial)

- Work from home as much as possible to get out of that "commute" mindset.

For me, this was a good way to "wait" until I pulled the plug. I understand not everyone can do this, but perhaps this can help a few.

 

[marko]

OP here.

Gee. My post was intended as a fairly lighthearted observation on how one should not let time slip away while deciding on whether to make the jump.

No intention of telling anyone to do anything. If my "stop waiting and go for it" is considered as some sort of command to be taken literally regardless of one's personal situation, I'm not sure how to respond.

We had a thread this week that went on and on with dozens of folks encouraging a poster who was afraid of running out of money...which is what inspired my post here.

Having been able to RE comfortably since my 32nd birthday, I have no need to justify my decision (forced or otherwise) to have RE'd at 52. My "path" was somewhat unique so I'm not trying to "make myself feel better by encouraging others". Not a path many can follow anyway.

I do know that my brother had a massive, work-induced, disabling stroke 2 months before he planned to RE so I was hoping that those who are able and interested but hesitant might take my insights on the shortness of time to perhaps add my small input to their larger equation.

I have no 'motivation' here; just some musings on a slow rainy day; no coercion was intended, nor I hope, implied.

 

[Cut-Throat]

OP here.

Gee. My post was intended as a fairly lighthearted observation on how one should not let time slip away while deciding on whether to make the jump.

Much better and far more realistic than the posts touting a 2% Withdrawal Rate to be able to cover retirement expenses....

 

[RunningBum]

OP here.

Gee. My post was intended as a fairly lighthearted observation on how one should not let time slip away while deciding on whether to make the jump.

Well, you put rant in both the title and the first line of the first post. That's not a good start if you're trying to be lighthearted.

I'll move on.

 

[marko]

Well, you put rant in both the title and the first line of the first post. That's not a good start if you're trying to be lighthearted.

"Maybe that word doesn't mean what I think it means" (Princess Bride) but let's not pull out Webster at this hour.

Reading the replies, I think most folks know what I was getting at.