Gatordoc50
Full time employment: Posting here.
Oh great. Another article on how you can't have your cake or eat it too.
Some do ...Now in my case, I think the time is more valuable than the money, but others may not see it that way.
If I had a nickel for every time that cartoon's been posted on this website then I'd be retir-- um, never mind.Some do ...
Sure, Ferris makes it sound pretty good in the book, but Mr. Money Mustache had a few interesting perspectives on that lifestyle:Great discussion here...never would have happened if the had given the article an honest (non-misleading) title. It was the same old story about the affordability of retirement, with 2% content about spending on travel and other retirement kinds of things. And as mentioned earlier, no detail as to how you'd manage, given you'd be at work instead of 3 weeks in Tahiti. Anyone read the 4 hour work week? If I could engineer one of those kinds of businesses, then, yeah! That book has some detail. Not easy to do, but if you can manage, then it would be awesome.
One of the problems is that you can focus to much on the savings side and not enjoy life today... and that can make you grumpy even if you are not working... enjoy life more today and maybe work does not suck as much...
I am actually looking at doing this a bit more... and in a few years I will probably move to part time to even delay it more...
If anyone ever answered that one definitely, life would certainly be easier. We all struggle with balancing today & tomorrow, and answer imperfectly...best we can do.It's important to save for tomorrow but it's also important to enjoy today because we know we have today and we may not have the tomorrows we save for.
Some thoughts need to be reinforced ...If I had a nickel for every time that cartoon's been posted on this website then I'd be retir-- um, never mind.
In the Navy this is referred to as the "ROADS" scholarship program: "Retired on Active Duty Service", or "might as well be retired for all the work that we get out of them".
He was probably more productive in those couple hours than an entire week of the extreme programmers working around a shared cubicle while attending department meetings and mandatory training seminars...Funniest thing is, I think that to a great degree it was true, as he was working from a home office, and as far as I could tell most days he put in just couple of hours of real work.
Loved that link...thanks!Sure, Ferris makes it sound pretty good in the book, but Mr. Money Mustache had a few interesting perspectives on that lifestyle:
Get Rich With: Good Old-Fashioned Hard Work | Mr. Money Mustache
I agree with that too. My best vacations are where we overhaul the boat's engine rather than just take a boat ride. It's harder to see when you're working for megacorp, but even then, it can be seen that what you're doing is leading to something else.And here’s the best part: the insane work will bring you just as much happiness as the leisure time!
Projects are a LOT more fun when you do them on your timetable and only you or your family are the ones who get to decide what should be done!My best vacations are where we overhaul the boat's engine rather than just take a boat ride. It's harder to see when you're working for megacorp, but even then, it can be seen that what you're doing is leading to something else.
--Dale--
For example, in my case, running the Firecalc numbers, I have a 90.4% chance of being able to retire in 2016 if I invest $20,000 per year until then. If I push it to 2017, I have a 98.8% chance.
But, if I cut back my investing to $10,000 per year, I have a 91.6% chance of success if I retire in 2017, and a 98.8% chance if I do it in 2018. (but only an 85.5% chance of success if I retire in 2016).
So, in this case, I'd have $10,000 more per year to play with and have fun with, at the expense of having to work one more year. If I quit saving altogether and used that $20K per year for fun money, I'd have an 89.2% chance of success retiring in 2018 and a 97.6% chance if I retire in 2019. So in this case, I'd have to work two more years.
Now in my case, I think the time is more valuable than the money, but others may not see it that way.
So the plan they suggest is to stay working - that alone makes me think it is not retirement - then spend all the money you used to be saving towards retirement, so you get used to a higher expense lifestyle before you actually retire. If your savings weren't enough to support retirement before, what makes anyone think they will grow so fast if not added to, that they will support a more expensive retirement later.
Not sure where the numbers come from, but I wouldn't have suspected such a drastic difference.The longer you delay retirement-plan withdrawals, the less you need to save. You might need $1 million to retire comfortably at age 62 if you wanted to replace 75% of a $75,000 annual salary. Wait until age 67, and you would need $675,000. Wait until age 70, and your required nest egg would be $525,000