Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 01-17-2009, 06:53 PM   #21
Moderator Emeritus
Khan's Avatar
 
Join Date: Aug 2006
Location: Pine Island, Florida
Posts: 6,868
Send a message via AIM to Khan
Economics: You sell your time to get money to buy stuff.
__________________

__________________
"Knowin' no one nowhere's gonna miss us when we're gone..."
Khan is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-17-2009, 06:54 PM   #22
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Quote:
Originally Posted by Texarkandy View Post
Because even the worst day spent fishing beats any day at the office.
Not sure I'd go that far. I have had some scary days on the water (getting caught out in an electrical storm on salt water) and the occasional real triumph at work. But mostly I would rather amuse myself than take orders.
__________________

__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Old 01-17-2009, 06:54 PM   #23
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Quote:
Originally Posted by landonew View Post
Hey yall,
I am young and about to enter the work force.
Can somebody please tell me why retiring in your late-40s/early-50s is so appealing to so many of you?
What Brewer said. It's best to achieve a position in life where you're working because you want to, not because you have to keep ahead of the debt.

Although your field may start out fun & interesting, as mine did, there may eventually come a point where it makes an excessive demand on your time, your interest, your ethics, or some other aspect of your personal resources. Your priorities may change, too, especially if you have a spouse & kids, or you may develop other interests that you just can't see coming right now. If I went back even 15 years in my life and told my younger self what was ahead, I'd never believe it. If none of these things ever happen to you, then great! You can remain blissfully ignorant of ER and continue to pursue your chosen avocation for the rest of your years.

As for peaking in your chosen profession... not everyone gets to the peak of their chosen profession. There are a lot of valleys, ravines, and cliffs along the way.

You might want to read Joe Dominguez' "Your Money Or Your Life":
Your Money or Your Life
Your Money or Your Life
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 01-17-2009, 06:59 PM   #24
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Amethyst's Avatar
 
Join Date: Dec 2008
Posts: 5,875
I never, ever wanted to work for a living but heck, I had to eat. And once I stopped being hungry, there was stuff I wanted to own. And all that. So, since I was stuck having to work all my life, I figured I'd make the best darn job I could of it, and get out as soon as I could. Unfortunately it is taking longer than I really wanted....

The notion of getting bored during 3 days off, or 300 days off, is just...strange. As long as one is healthy, there is just so much to DO! And nobody to tell you what to do, or when you can do it, or force you to quantify the returns on what you've been doing, or make fun of it because it's not what everyone else is doing....

I'm simply too independent minded ever to be happy in a situation where I must please others--according to their lights, not mine--or suffer the consequences.
__________________
Amethyst is offline   Reply With Quote
Old 01-17-2009, 07:34 PM   #25
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 11,017
Work is an idol to many, especially in North America. Too many people live to work. Where I come from (Europe) people are more likely to work to live. Early in my career I placed work above everything, making many compromises. Work can be extremely satisfying, but too much of it is very destructive to one's health and wellbeing. I'm done with compromises. That's why I want to RE. FI is a prerequisite for that.
__________________
Meadbh is offline   Reply With Quote
Old 01-17-2009, 07:39 PM   #26
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
freebird5825's Avatar
 
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,017
Quote:
Originally Posted by landonew View Post
Hey yall,
I am young and about to enter the work force.

Can somebody please tell me why retiring in your late-40s/early-50s is so appealing to so many of you?

From my perspective (albeit a relatively uninformed one), aren't you checking out before your number is drawn? That is the time in which your earning potential is at its highest. Also, your job satisfaction should also be at its highest because you have peaked in your chosen profession. Retiring in my late-40s as a senior-managment (partner, or whatever your title is) would seem like a big mistake.

Also, with people living longer and longer... doesn't retirement get boring. I get bored on 3-day weekends (well not really, but a week or two and I am ready to hit it again).

Thanks for informing the younger generation, and please don't take this as a sign of disrespect. Just trolling the board and wondering what the rush is to get out of the work force.
Welcome, and I want to tell you that your questions were excellent.
Why do we FIRE ? Because we CAN. Because we wanted to.
The idea of being in total control of MY time is very appealing to me.
I loved my c*reer field, I just hated what I had to do to earn a paycheck.

"Checking out before..." is a relative term. I FIRED at age 48. I am 50 right now.
I like to think of it as regaining my life back so I can enjoy it on my terms. At a younger age, we had the freedom to choose what we wanted to do with our lives. So we did.
But that all went away once we became employed full time, ingrained in the process of earning a living.

Retirement boring? I am finding that relaxing takes up an awful lot of my time. I literallly set a kitchen timer for 60 minutes when I am surfing here so I remember to get up and move around. I see this forum as a continuing adult education class. I have learned more here than the sum total of what I learned when w*rking.
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
freebird5825 is offline   Reply With Quote
Old 01-17-2009, 08:31 PM   #27
Recycles dryer sheets
 
Join Date: May 2008
Posts: 119
Welcome to the board...

I just retired from the Navy with a little over 20 years. I can tell you, I loved the Navy for most of those years. The last few years really got tiring and after my pre-separation class about the civilian world and work, I can't see myself doing it.

So far, I am enjoying myself not working. I now am beginning school to finish up a Bachelors (6 hours to go) and working on my Masters because I have $40K + in GI Bill. I am doing this mainly to kill time.

I am not bored in the least so far. I am a basketball official which I make $25-50/game which helps with spending money and keeps me physically active. I also am watching my fiance's kids play sports.

Like the others have said, you will realize work is just that work! Being retired is fun!
__________________
Boxkicker is offline   Reply With Quote
Old 01-17-2009, 08:42 PM   #28
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
bbbamI's Avatar
 
Join Date: Dec 2006
Location: Dallas 'burb
Posts: 9,039
Can somebody please tell me why retiring in your late-40s/early-50s is so appealing to so many of you?

I got tired.
__________________
There's no need to complicate, our time is short..
bbbamI is offline   Reply With Quote
Old 01-17-2009, 10:00 PM   #29
Thinks s/he gets paid by the post
Goonie's Avatar
 
Join Date: Oct 2006
Location: North-Central Illinois
Posts: 3,198
Quote:
Originally Posted by landonew View Post
Can somebody please tell me why retiring in your late-40s/early-50s is so appealing to so many of you?
It's appealing to me 'cause I never liked school or work. But, those were things that were required in life. So I look at life like this:

Birth to about 5 years old = Endless days of play! Life is great! Get up have breakfast, play, eat lunch, nap, play, eat supper, play (until they force you to go to bed), and sleep.....repeat daily for about 5 years. Yea!!!

5 or 6 years old to about 18 years old = Go to school. Learn stuff so the next year you can learn more stuff....continue to about 18 years old. Blech!

18 years old to ?? = Work for da man, to earn money. The more money you spend, the longer you have to work 'til you can afford to break the chains that bind ya to da grindstone....The less you spend and the more you save, the sooner you can gain your freedom....your Financial Independence, so the sooner ya can Retire Early!

FIRE = Endless days of play!!! Life is great! Get up have breakfast, play, eat lunch, nap, play, eat supper, play (until they force you to go to bed No one can force you to do anything anymore!), and sleep.....repeat daily for about 5 years the rest of your life. Yea!!!

Quote:
Originally Posted by landonew View Post
From my perspective (albeit a relatively uninformed one), aren't you checking out before your number is drawn?
The only thing you're checking out of, is 'work'.....the 'job'...the 'career'....the being told what to do, when to do it, how to do it, etc. You're checking out of the 'daily grind', and gaining the freedom to do whatever you want, whenever you want, anyway you want, for as long as you want! You no longer have to bow to da man....'cause now you're da man!

Quote:
Originally Posted by landonew View Post
Also, with people living longer and longer... doesn't retirement get boring. I get bored on 3-day weekends (well not really, but a week or two and I am ready to hit it again).
Life is what you make it. For me, there is no such animal as boredom! I have all sorts of interests, hobbies, activities, and traveling to keep me from EVER even having a chance to begin to think about getting bored!

If work is your #1 interest in life, then retiring and having a lot of time on your hands is likely to cause you some deep boredom! However, if living life is your #1 interest in life, then boredom won't have a chance to even get a toe-hold.

Life Is Great!!!
__________________
Goonie is offline   Reply With Quote
Old 01-17-2009, 10:12 PM   #30
Moderator Emeritus
 
Join Date: May 2007
Posts: 11,036
I grew up in Europe, so work was...how can I say this... never my top priority. For me, work has always been a mean to an end. Doesn't mean I don't take pride in what I do (if I HAVE to work, might as well do it right). But I have never let work control my life.
__________________
FIREd is online now   Reply With Quote
Old 01-17-2009, 10:14 PM   #31
Thinks s/he gets paid by the post
Goonie's Avatar
 
Join Date: Oct 2006
Location: North-Central Illinois
Posts: 3,198
P.S. - If for some reason you would prefer to not retire early, that would be OK too. I mean, heck, if you want to keep paying into SS a while longer, many of us here would certainly appreciate your efforts!

j.k.
__________________
Goonie is offline   Reply With Quote
Old 01-17-2009, 10:17 PM   #32
Thinks s/he gets paid by the post
BunsGettingFirm's Avatar
 
Join Date: Jan 2004
Posts: 1,502
All I can say is check back in 10 years.
__________________
BunsGettingFirm is offline   Reply With Quote
Old 01-17-2009, 10:47 PM   #33
Full time employment: Posting here.
Frugality_of_Apathy's Avatar
 
Join Date: Jul 2008
Posts: 622
Quote:
Originally Posted by BunsGettingFirm View Post
All I can say is check back in 10 years.
I'd say check back in 2 years.

It doesn't really sink in until you realize you've worked straight through two summer breaks, winter breaks, and spring breaks aside from those couple weeks you were sick and the couple of hours you had to take to go to the bank/doctor/postoffice/mechanic.
__________________
Frugality_of_Apathy is offline   Reply With Quote
Old 01-17-2009, 10:52 PM   #34
Thinks s/he gets paid by the post
BunsGettingFirm's Avatar
 
Join Date: Jan 2004
Posts: 1,502
Quote:
Originally Posted by Frugality_of_Apathy View Post
I'd say check back in 2 years.

It doesn't really sink in until you realize you've worked straight through two summer breaks, winter breaks, and spring breaks aside from those couple weeks you were sick and the couple of hours you had to take to go to the bank/doctor/postoffice/mechanic.
That's if you're just working a 40-hour week. Try some 2 year death marches for which you're in the office 10-12 hours a day plus 1 to 2 day a weekend. There will be times when you have taken a shower only to realize that you don't have any clean underwear because you haven't had the time to do laundry in 3.5 weeks.
__________________
BunsGettingFirm is offline   Reply With Quote
Old 01-17-2009, 11:10 PM   #35
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2003
Location: Kansas City
Posts: 7,408
Hmmm - I enjoyed participating in the Space Program - and getting paid for it.

One of my old work buddies Sam(retired AF) used to say " If they didn't pay me to show up - I'd have to buy a ticket to come and watch."

When it wasn't fun anymore and seemed like work - it was time to ER. Interestingly that coincided with my layoff. When I went back as a jobshopper a year later for a lot more money(but no benefits) - it wasn't fun anymore. Put in a yr - topped up my portfolio and been practicing doing absolutely nothing in particular for over a decade - er a tad more.

heh heh heh -
__________________
unclemick is offline   Reply With Quote
Old 01-17-2009, 11:31 PM   #36
Thinks s/he gets paid by the post
Rambler's Avatar
 
Join Date: Jul 2007
Posts: 2,243
Yeah, what they all said above.

But to add, I rarely get bored on the weekends or vacations. There are too many things I want to do and too little time to do them, not mention just relax.

On the other hand, who says I don't get bored at work? At 47, I have been a senior exec now for the past 7 years. There is only one more slot to fill: global CEO of a company with $20B+ sales...and he's my boss right now. I've thought about it, and can never get myself to think I would ever want that job, although out of all my colleagues at my level, I'm really the only one currently qualified enough to take his place, should he decide to step down (I'm sure there are others outside of megacorp who would qualify). I just can't see myself doing it.

That said, with the exception the relatively new challenges related to running this business in the current environment, I have begun to be bored, from time to time, with what I have to do...meetings, HR issues, annual budget, controlling costs, pushing the sales force....lather, rinse, repeat, lather, rinse, repeat. Its not a bad position, but its just getting a little old, and from time to time the bureaucracy and political maneuvering get out of hand and become stressful.

I'm beginner FI right now, and when the economy settles and my port recovers (solidifying my FI), then I will RE, and enjoy doing what I want when I want.

R
__________________
Find Joy in the Journey...
Rambler is offline   Reply With Quote
Old 01-18-2009, 04:45 AM   #37
Thinks s/he gets paid by the post
 
Join Date: Jul 2004
Posts: 1,072
Thanks for checking in - and if you want to become financially independent or retire early (FIRE), the fact you are asking at this young age means you will have an awesome chance to do just that by starting when you are young (browsing through the archives of this place under LBYM and Asset Allocation will put you on an awesome start).

You ask good questions - for me it's a matter of having options - Nords suggestion of reading "Your Money or Your Life" is an excellent one. All we have is time - what we decide to do with that time becomes the measure of our life. Money is a form of deferred time. If we save money, we gain access to time (and options).

Example relevant to today - the news is telling us we are in dire economic straits right now. If you are in a position such that you have some savings (money), you have the luxury of time: to find a new job, to not work, to travel, to buy something at a good price (to outwait or be in a position to negotiate anything). This can ease your mind; you don't have to take whatever is offered to you job-wise, deal-wise, etc. You can pick to time that is convenient for you.......it is hard to understand when you are young, but it will become evident as you gain more experience in the world.

Good luck on your journey and I do hope that either you find a job or avocation you love or you understand and perhaps work towards FI and or RE.
__________________
Deserat aka Bridget
“We sleep soundly in our beds because rough men stand ready in the night to visit violence on those who would do us harm.” - George Orwell/Winston Churchill
deserat is offline   Reply With Quote
Old 01-18-2009, 07:28 AM   #38
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Quote:
Originally Posted by BunsGettingFirm View Post
That's if you're just working a 40-hour week. Try some 2 year death marches for which you're in the office 10-12 hours a day plus 1 to 2 day a weekend. There will be times when you have taken a shower only to realize that you don't have any clean underwear because you haven't had the time to do laundry in 3.5 weeks.
Simple: go commando.

And you forgot to add in evening grad school classes and/or cramming for industry certification tests on top of the above. And maybe trying to see your wife/kids/dogs/the sun once or twice a week...
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Old 01-18-2009, 07:43 AM   #39
Recycles dryer sheets
mews's Avatar
 
Join Date: May 2008
Posts: 477
Quote:
Originally Posted by brewer12345 View Post
Simple: go commando.

And maybe trying to see your wife/kids/dogs/the sun once or twice a week...
Whaat! When you could be w*rking?!? Not a team player, Brewer!

ta,
mew
__________________
mews is offline   Reply With Quote
Old 01-18-2009, 08:43 AM   #40
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
kcowan's Avatar
 
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 5,714
Send a message via Skype™ to kcowan
Early on I took the view to maximize my hourly pay because I had seen my Dad do amazing things while he was underpaid. I discovered that the financial returns were higher for putting my ego on the line. This was not comfortable so I worked with external counselling to become comfortable with ego exposure.

Then I adopted the approach of acting like I thought the next higher level would demand, and pretty soon these levels were offered. As the higher responsibilities tended to command too much time, I then worked on life balance.

In hindsight, I loved every step along the way and was always ready to accept new challenges. When I was 49, a optional golden handshake became available. After some soul-searching, I made the next step. I was not ready to ER so I did a number of previously unfulfilled activities for good pay.

Once the checklist was completed, I retired early.

I present this scenario to illustrate that FI has to be adopted as an early goal but ER can be played by ear once FI has been achieved.
__________________

__________________
For the fun of it...Keith
kcowan is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
How much is enough to retire early on? DallasGuy FIRE and Money 76 03-11-2010 03:03 PM
I Don't Want To Retire Early! hocus Young Dreamers 16 06-14-2007 07:51 PM
How to retire early dory36 Other topics 8 03-05-2006 10:27 AM
Retire Early, Get More SS TromboneAl Other topics 21 05-01-2005 04:16 PM
Retire Early Now Or? edhurst Other topics 2 09-30-2003 02:08 PM

 

 
All times are GMT -6. The time now is 12:40 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.