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Old 11-24-2014, 10:05 AM   #21
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I appreciate the responses

Moderator,
I wasn't yelling! lol.
Anyway, I appreciate the responses. I find inspiration in the stories of others. At times it's difficult to stay motivated. Hearing your stories keeps the fire lit. My story is the following, for your inspiration...
I'm 38 now. My wife works part-time at the High School as a secretary. I work full time as a Justice of the Peace/Muni Court Judge. I was a police officer for 10 years prior to that. I currently have 12 years under my belt total (10 years cop, 2 years judge). My term lasts 4 more years. I plan on running again for another 6 year term. This year I purchased four years of Nevada State Pension. So, now I have 16 pension years built. At the conclusion of this term I will have 21. I will buy my final year (5th) in 2015. Because I worked as a police officer for 10 years, I can retire at 55 with no reduction in pension. I'm currently saving about 30% of my income total and praying that it pays off in the end. I want to retire at 50, 55 max. I have no debt at this time other than one car and our house. THat's my story and I'm sticking to it.
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Old 11-24-2014, 10:08 AM   #22
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Originally Posted by Brianeboatman View Post
I'm 38 now. My wife works part-time at the High School as a secretary. I work full time as a Justice of the Peace/Muni Court Judge. I was a police officer for 10 years prior to that. I currently have 12 years under my belt total (10 years cop, 2 years judge). My term lasts 4 more years. I plan on running again for another 6 year term. This year I purchased four years of Nevada State Pension. So, now I have 16 pension years built. At the conclusion of this term I will have 21. I will buy my final year (5th) in 2015. Because I worked as a police officer for 10 years, I can retire at 55 with no reduction in pension. I'm currently saving about 30% of my income total and praying that it pays off in the end. I want to retire at 50, 55 max. I have no debt at this time other than one car and our house. THat's my story and I'm sticking to it.
You left out this part:
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What kind of money do you make?
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Old 11-24-2014, 10:16 AM   #23
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DW did a bunch of stuff, but did career counseling at high end universities for 4 or 5 years and then quit in 2003 to open a part time private practice and have kids. I have done lots of things: Corporate intelligence analyst, conference director, corporate librarian/data monkey, rating agency analyst, high yield/distressed debt analyst, and regulator. I quit in January of 2014 at age 41, spent 8 months recovering and enjoying life, and then fell into a gig [mod edit] (not really, but it sounds far more interesting than my excruciatingly dull contract job doing some work for a megabank).

Can't help you with savings percentage. From about age 25 or 26 I always maxed my 401k. 100% of DW's business earnings have gone into a solo 401k (although some years that was a few grand). For a long time we had a 15 year mortgage and then paid an extra $1k/month on it (wish I had not done that, in retrospect). When I got a bonus, we usually saved the vast majority of it.

Just like concrete work and roofing, that "web cam" gig would best be reserved for young people. At age 41, the stamina required to make a decent living behind the cam would be too much.


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Old 11-24-2014, 10:19 AM   #24
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I am retired now, but when I first came to the Early Retirement Forum I was an oceanographer. That is not a notably high paying occupation, but we do what we can so I was living on about 25% of my gross salary and putting the rest towards my future (mainly retirement savings and paying off the house). I have no dependents so that was more easily possible for me than it is for some people. Now, my income is from pension, social security, and investments and I no longer need to save for retirement - - I'm living it! .
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Old 11-24-2014, 10:29 AM   #25
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Nothing I am proud of. I am in middle management in a tech gigacorp whose sole mission in life is to make profit for stock holders. The company is a major contributor to the internet madness, a real Cyberdine.
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Old 11-24-2014, 10:35 AM   #26
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I am an engineer, work on things that make big mushroom clouds. Starting out was not able to max out the 401k/403b, but did make the contributions and got company matching at minimum. As career progressed I have not only maxed the pre-tax, but also have increased after-tax savings. My guess is near 40% total savings rate currently.

Moving out of high COL CA and to lower COL NM has had a significant effect. I have much lower housing cost (mortgage) than previous. Additionally pay less taxes, so both enable a high after-tax savings rate compared to before. I am in about OMY until retirement, but plan to transition to part-time in spring 2015.
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Old 11-24-2014, 10:49 AM   #27
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My wife and I are/were both scientists working for smaller biotech companies (DW is still at it, I quit working a while ago). We managed to save on average 50% of our take home pay over the years.
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Old 11-24-2014, 10:54 AM   #28
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Old 11-24-2014, 10:58 AM   #29
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Rule of Thirds: 1/3 to Taxes, 1/3 to Savings, 1/3 to Me.

PhD at 27. Doing Laser Engineering at Megacorp for another 27.5 yrs. Will retire reasonably comfortably in 8-12 months (at about the real "income" - only now composed of pension + 2% annual widthdrawl from savings rather than the roughly equal 1/3 current gross salary).
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Old 11-24-2014, 10:59 AM   #30
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Hilarious. I have the same job.
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Old 11-24-2014, 11:16 AM   #31
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Mechanical Engineer in a heavy manufacturing industry plant until mid-30's. Worked at several locations. Became Plant Manager, then moved on to the oil and gas industry.

Worked at a top five integrated energy company in corporate for 5 years and got sick of the politics.

Went into oil & gas consulting and got to visit many places that most people here will never go to. Did about 25 years of this nonsense, but it was fun.

Last earnings year (full time = $200K+)

Now just piddling around and doing an occasional consulting gig.
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Old 11-24-2014, 11:41 AM   #32
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Computer Consultant to large/mid size firms, US and Canada. (SAP and VMware markets)
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Old 11-24-2014, 11:49 AM   #33
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B-Boatman (Officier/Your Honor)

The graph at this link shows, at a high level, how many years you need to work before achieving financial independence. The Shockingly Simple Math Behind Early Retirement

It applies directly when you don't have passive income streams in retirement, but it can give you a worse case type of scenario for various savings levels.

As you can see it is less about how much you earn in dollars but rather about the ratio of what you spend to what you earn.

-gauss
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Old 11-24-2014, 11:57 AM   #34
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Many of you are ,ready retired. If that's the case, what DID YOU DO for a living? How much money DID YOU MAKE AND WHAT % DID YOU SAVE? I put this in the "Dreamers" section thinking that it would be young pre-retirees like me. You retirees love rubbing it in that you're already retired...and I don't blame you! I can't wait to join the ranks in 2024.


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You should be able to change the title of your thread to What DID you do...., by going to the "Advanced" screen in edit, if the edit time window has not yet expired. If it has , contact any moderator via pm, and they may allow it.

These days, I am catching up on 10 years differed maintenance on my body and the house. Also watching squirrels, both rodent type, and politicians.
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Old 11-24-2014, 12:10 PM   #35
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Traffic engineer at a consulting firm. Then director of engineering for a new toll road agency. I built a toll road and planned on building many more. $50-70k my entire career.
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Old 11-24-2014, 12:30 PM   #36
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Very little in the way of gainful employment - auto mechanic a couple places, mushroom farmer.. The mushroom gig was my highest paying job, with a salary a bit over $15,000/year. Started buying really worn out places in the mid 80's and fixing them up and renting them out. Nothing got saved - it all went to the 10-14% loans paydown. We pushed paying things off and borrowing against them to buy other places and paying those loans. As a result, with a tiny top salary and negligible savings rate we now have diddly for social security income but a nice chunk of unearned income from rentals as well as interest income from loans and property sales and PenFed certificates that is getting near 3/4 of the rental income. Probably saving about what we live on each year, but am arguably working for my unearned income even if we spend 1/2 the year as snow birds.
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Old 11-24-2014, 12:34 PM   #37
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Data scientist. Was in a golden period for maybe 5-6 years out of grad school in applied research positions (in industry). But then promotions and other changes at work left it not fun. Got out of there as soon as I could.

Not sure what our saving rate was as we didn't track it. But we saved everything over our yearly expenses of 70-80k + taxes (was in silicon valley with a high cost of living). Always maxed out 401k etc. Managed to retire on the same car my parents bought me for finishing undergrad.
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Old 11-24-2014, 12:44 PM   #38
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I was a business analyst and my DW an HR exec, plus we have rental properties. We both made low six figures but were able to add stock options into the mix in some years. We saved about 60% of our after tax income the last ten years or so.
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Old 11-24-2014, 12:56 PM   #39
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What do I do for a living?

Currently: "Student of Life, the Universe, and Everything"

On the business cards: "Family Office Manager", which is what I do. Part time. Some days. If I feel like it...

On IRS paperwork: "Retired", because they get cranky if I put down something that sounds like a job, and upset if I put down "Spy (retired)" for some reason.
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Old 11-24-2014, 01:23 PM   #40
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.... I work full time as a Justice of the Peace/Muni Court Judge. I was a police officer for 10 years prior to that. I currently have 12 years under my belt total (10 years cop, 2 years judge). My term lasts 4 more years. I plan on running again for another 6 year term. This year I purchased four years of Nevada State Pension....:
A judge in Nevada? Perhaps you can answer some questions before we go to Las Vegas next month for four days with two other couples:

Is it really true that what happens in Vegas stays in Vegas, or do you peacekeepers share the best stories? Could you write a book?

Do people in Nevada really call Las Vegas just "Vegas"?
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