Who Is Your Role Model for Retirement?

He’ll probably never really retire, but Warren Buffet. He started with nothing as a paper boy, and accumulated a NW of $102,000,000,000. Yes, that’s 12 digits folks! And, he’s still going strong!
 
Last edited:
My great grandmother is 'role model' for retirement. She was frugal, survived the Great Depression with zero issues, and helped many in the community reach financial independence. She was FIRE before FIRE was cool. The one thing she stressed was the path to wealth was based on avoiding mistakes, much more so than making decisions that turned out exceptionally well.
 
For me, it's the guy I see in the mirror. He worked full time since 15, with part time during school. Had a J-O-B scholarship to work his way through engineering degree. Worked a successful engineer career, practiced Pay Yourself First and LBYM. But still lived a good life with fun while saving, and retired at 53. Doesn't have an unlimited budget but can have pretty much what he wants.
Might have been a better example of someone along the way, but haven't met that person yet. The guy in the mirror didn't make 100% of the best decisions, however he avoided making any real bad ones, which is probably the key.
 
latexman said:
He’ll probably never really retire, but Warren Buffet. He started with nothing as a paper boy, and accumulated a NW of $102,000,000,000. Yes, that’s 12 digits folks! And, he’s still going!
Click to expand...
Well yea, but I think his $100,000 home is included in the net worth.
 
travelover said:
I know, it is hard to be humble.
Click to expand...

Heh heh. I don't know that statement was implied bit I actually immediately related to it. I honestly didn't know anybody thinking along FIRE lines and certainly didn't now anybody who actually gave a thought about money or money management except to constantly bitch about it. Or think about their future. That was pretty much all my idea and the only person I could talk to about it was me.

I did tap into Thurston Howell and modify modus vivendi. And I remembered Gomez Addams in the living room reading the ticker tape. "Buy Amalgamated! Sell Consolidated!" Money for nothing.
 
Active and Older

Several times a week my wife and I attend an aerobics class what used to be called "Active Older Adults". At 60 & 61 we were some of the younger ones in the class. We've made friends with several, many who are in their 80's and still very active in mind and body. That is the goal I have!
 
Me, I'm my own role model. Retired at 60 nearly 6 years ago to a life of 8 hour, or less, work weeks, lots of volunteer work and lots and lots of active outdoor hobbies/sports/activities. It's pretty sweet!
 
My parents were good roll models. Dad retired first at age 62 and immediately started hitting his bucket list of things he wanted to do that Mom wasn't interested in... starting with loading up his 4wd PU with the kayak on the roof, and mountain bike in the back with his camping gear for a 6 week trip up the west coast into Alaska, over to Canada, and down the Rockies. When Mom retired a few years later when she hit 62, they started doing trips that interested her - world travel. Unfortunately, she was diagnosed with ovarian cancer 2 years later, and travel was limited to windows between chemo. She died at 67... so a short retirement.

Dad continued to travel and blow his dough! Based on his experience I set a goal of retiring at 55. Especially with Mom's early death as a warning to not postpone. I was able to pull it off earlier thanks to friendly markets and retired at age 52.

A negative role model would be my FIL. He basically retired and sat down on the couch to watch tv. Not much activity, no travel, no exercise.

Another negative role model would be a good friends parents. Retired without enough income to support themselves. They had been government employees, quit a year or two before 20 years and took their pension in cash. Blew that while working part time jobs. Needed help from their then 20-something daughter to pay their rent. When she got married and moved away the moved to a cheaper apartment... but later, needed her help again. She was paying a couple thousand a month to help support them till my friend was able to restructure their living situation so they could just (barely) pay their bills. I would never want to retire dependent on my kids.
 
Me too. I have no kids to depend on.
 
Dad is my retirement role model. Very successful building contractor who spoke and dreamed about retirement, but never got there. He suffered a fatal heart attack at age 56.

I was determined to not let that happen to me. Wife and I planned, saved, retired in our mid 50s and are now enjoying life in retirement that he and Mom never got to experience together.

It’s been 30 years. Miss him dearly. RIP Pop.
 
Don't really have one. Made my own way.
 
My parents were from the Depression generation. My dad was a good provider, but definitely blue collar. I must have inherited their financial opinions as I have always been aware of retirement needs.

My dad worked for a utility company, ironically, so did I. When U work for a utility, you don't get rich, but you can live a comfortable life.

My 3 sons, however, are from a diff generation and have completely diff views.
 
I read A Random Walk Down Wall Street - Burton Malkiel in my thirties and started projecting growth of my 401(k). That kept me on track. My parents were neither overly cautious or spendthrift. I had a wonderful childhood and they traveled and enjoyed life and my father retired at about 61 or 62. They played golf and made new friends. My mother became a Guardian ad litem. I was fortunate to have had parents that valued education and I graduated college with no debt. I owe them everything.
 
razztazz said:
Heh heh. I don't know that statement was implied bit I actually immediately related to it. I honestly didn't know anybody thinking along FIRE lines and certainly didn't now anybody who actually gave a thought about money or money management except to constantly bitch about it. Or think about their future. That was pretty much all my idea and the only person I could talk to about it was me.

I did tap into Thurston Howell and modify modus vivendi. And I remembered Gomez Addams in the living room reading the ticker tape. "Buy Amalgamated! Sell Consolidated!" Money for nothing.
Click to expand...
For got about Thurston and Gomez.
Great role models! vzli60t.jpg
 
In 1991 - I had multiple business meetings with Frank (I can't remember his last name) at Lotus Development. As an aside, he shared the basics of his plan to retire with ~$3 Million in savings. I didn't go his path, but I suspect those conversations influenced my consistency with 401k and IRA contributions.

Preparation, luck, and a few other factors allowed us to chose RE earlier this year. It had not been on our radar, so this is a whole new world. And this forum is part of how I'm navigating it.

Since I'm not obsessing about the numbers, I'm spending time getting familiar the other pieces. And the best source I've found so far is Roger Whitney (The Retirement Answerman podcast). Maybe 70% of what he talks about has some form of relevance for where I'm at, so it's worth my time.

Best regards,
Chris

PS - One of the most helpful role models I had was a friend at least 20 years my senior. His philosphy of "The less hair I have, the shorter I'm going to cut it." arrived a just the right time for me. It saved me a lot of anguish and trying to avoid my fate, and the pro-quality clippers I own save me the time and costs of having to visit someone for haircuts.
 
In general, the people in my life who retire *to* something, not *from* something.
 
The first person would be my father who was a firm believer in paying yourself first. He didn't make a lot of money as an Air Force pilot but he was steady and conservative in his saving/investing.
After his I would say there are a 6-10 people here that I respect and would consider their advice. You may want to do some reading



Cheers!
 
Both our parents came off of farms in the depression, WW2, Korea - they worked hard and were solid middle class but only had savings account and no investments. Both ms gamboolgal and I did not know or learn about investing until we found this forum and Boggleheads about 10 year before we were able to retire.

So I would say the Forums and the Posters have been our role models - Thanks to all for the generous sharing of real life stories that made ms gamboolgal and I come to understand that what we needed to do in order to retire abit earlier and how to build a Portfolio to live and support our retirement.

This post by Jager really made a impression on me for many years before I retired - see link and excerpt below. I must have read and contemplated on this Post hundreds of times..... Jager put words to paper that really resonated with us the last few years of working - when we were close but not there yet - and also the stress that was megaoil corp with all the political dramas and subterfuge.

Retirement is wonderful and truly is "liberating" !

Excerpt -
" One of the tragedies of corporate America is the periodic dysfunction of managers – the political intrigues, the intimidations, and occasionally the outright bullying that gets exhibited. You can’t work at a megacorp and not experience it. And it becomes more prevalent the further you climb the corporate ladder.

The reciprocal to that first tragedy is that most people are stuck. They need their jobs. There is an undercurrent of quiet desperation that lies just beneath the surface. And so they do what they must. They suck it up, absorbing the drama and the politics and the dysfunction. They live with the ever present anxiety of potential loss.

The notion of being able to take a principled stand is a luxury very few have.

We mostly think of financial independence as simply the near prelude to an enjoyable retirement. It’s more than that, though. For those still working, it is perhaps the most liberating thing they can possibly experience."


Link - https://www.early-retirement.org/forums/f27/tickling-the-dragons-tail-71039.html
 
Last edited:
gamboolman said:
Both our parents came off of farms in the depression - they worked hard and were solid middle class but only had savings account and no investments. Both ms gamboolgal and I did not know or learn about investing until we found this forum and Boggleheads about 10 year before we were able to retire.

So I would say the Forums and the Posters have been our role models - Thanks to all for the generous sharing of real life stories that made ms gamboolgal and I come to understand that what we needed to do in order to retire abit earlier and how to build a Portfolio to live and support our retirement.

This post by Jager really made a impression on me for many years before I retired - see link and excerpt below. I must have read and contemplated on this Post hundreds of times..... Jager put words to paper that really resonated with us the last few years of working - when we were close but not there yet - and also the stress that was megaoil corp with all the political dramas and subterfuge.

Retirement is wonderful and truly is "liberating" !

Excerpt -
" One of the tragedies of corporate America is the periodic dysfunction of managers – the political intrigues, the intimidations, and occasionally the outright bullying that gets exhibited. You can’t work at a megacorp and not experience it. And it becomes more prevalent the further you climb the corporate ladder.

The reciprocal to that first tragedy is that most people are stuck. They need their jobs. There is an undercurrent of quiet desperation that lies just beneath the surface. And so they do what they must. They suck it up, absorbing the drama and the politics and the dysfunction. They live with the ever present anxiety of potential loss.

The notion of being able to take a principled stand is a luxury very few have.

We mostly think of financial independence as simply the near prelude to an enjoyable retirement. It’s more than that, though. For those still working, it is perhaps the most liberating thing they can possibly experience."


Link - https://www.early-retirement.org/forums/f27/tickling-the-dragons-tail-71039.html
Click to expand...


That is very eloquent and rings so true. I went and read the entirety of his post. Good stuff!
 
Since RobbieB is already taken, I'm going with imoldernu. He has left the building, but I learned much from him about being satisfied. YMMV
 
You must log in or register to reply here.

Similar threads

R
Final Approach Planning for Retirement
Replies
15
Views
1K
Route246
R
Car-Guy
Slow Fixed Income Payments (Rant?)
Replies
8
Views
585
Midpack
Midpack
R
Asset Allocation and Fund Location for Early Retirement
2
Replies
39
Views
2K
TB1960
TB1960
T
"employees who have a Roth 401(k) will no longer need to take RMDs." Huh?
Replies
8
Views
640
cathy63
C
Bimmerbill
Request review of retirement plan
Replies
24
Views
1K
Nords
Nords

Latest posts

Back
Top Bottom