Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Hi from Oz
Old 06-04-2011, 08:41 PM   #1
Dryer sheet aficionado
Join Date: Jun 2011
Posts: 29
Hi from Oz


Have been a long time lurker and really glad I found this forum.

Recently contributed to an excellent thread by Pete44 on retiring early to South East Asia, so thought I would just quickly introduce myself.

Am almost 42, single now (was married 10 years - still not happy about what that experience cost me ), and one son who doesnt live with me. Job is reasonably well paid ($150k package) but can be quite stressful. Like most jobs, some days can be good, some days bad, and some just downright S**T. I definitely dont want to be one of those people that just drops dead whilst working or shortly thereafter

Have thought about this a lot and the way I see it I have two options.

Option A. Sell everything at 50 and move to SE Asia. Expect I would have around $800k cash after selling home plus another $400k coming my way at 60 from benefits, ie total net worth $1.2M at 60 - easy to live off this amount in places like Thailand, Phillipines, etc

Option B. Keep working until 60. Based on current living expenses, and child support ending soon, I expect at 60 to have my house paid off ($600k value) plus another $2.4M in savings and benefits - ie total net worth $3M. I am very much a LBYM person -once child support ends (in 2 years) and house paid off (in 6), my expenses would be about $30k pa.

So working the extra 10 years means amassing an extra $1.8M

Most days, I think I prefer Option A, but Option B is tempting, if for nothing else to rub it in to the ex on how well off I ended up , and probably means I could live part of the year here, and part of the year overseas. Dont have strong ties here, parents are quite elderly and my son is very much growing up fast and quickly becoming independent.

So what would you do - keep making hay whilst the sun shines, or just quit the rat race and lie on a beach somewhere .

Still have plenty of time to decide, and I know that ultimately it will be up to me and how I feel after 50 including how bearable the job is at the time, but any useful comments appreciated, particularly from those that might have had to make a similar decision in the past, and how it worked out for them (including any regrets). Also would like to know whether people think 60 is too old to enjoy yourself including travel...
Ozziedreamer 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 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 06-05-2011, 08:45 AM   #2
Thinks s/he gets paid by the post
growing_older's Avatar
Join Date: Jun 2007
Posts: 2,657
I'm more in the camp as facing similar decisions, not having already made them in my life. I am thinking that if I were to ER too early, my reasonably well paid job is not something I could easily replicate after I had taken a few years off. So any extra working would be much better done now before I retire than later when I likely would end up in a lower paying job. "making hay whilst the sun shines" is the approach that I'm taking, although my goal is much lower than yours. Likewise, I feel a need to balance between piling up as much as I might want vs taking too many years to do it. I do still want to have plenty of time to enjoy all that hay.

Welcome to the forum.
growing_older is offline   Reply With Quote
Old 06-05-2011, 12:02 PM   #3
Full time employment: Posting here.
arebelspy's Avatar
Join Date: Apr 2011
Posts: 625
Welcome! Suggest you do a search on these forums on "one more year" to get some thoughts on your questions.
arebelspy is offline   Reply With Quote
Old 06-06-2011, 06:52 AM   #4
Recycles dryer sheets
robbridg's Avatar
Join Date: Sep 2010
Location: Allen Park
Posts: 118
I've been through the divorce mill. My advice is to not let your divorce cloud your judgement.

IMO, if your job is tolerable continue to work it, continue to LBYM and save save save. Take some nice vacas to SE Asia and really feel out where you'd like to wind up eventually. And who's to say you have to work to 60? Why not 50 or 55? On the other hand, if you can't take it any more maybe you do want to cash out. That's up to you. Just take your time deciding. Your divorce can be the best thing that's ever happened to you.

Good luck brother!
robbridg is offline   Reply With Quote
Old 06-07-2011, 02:41 AM   #5
Dryer sheet aficionado
Join Date: Jun 2011
Posts: 29
Thanks for the advice guys and the welcome. Agree with robbridg, if I can tolerate it, will continue to work, LBYM and save.
Ozziedreamer is offline   Reply With Quote
Old 06-07-2011, 01:57 PM   #6
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: 7,388
Send a message via Skype™ to kcowan
I retired at 50 from a Top 10 job. Then hung out my shingle and consulted for 10 years. Those were the best years of my life. And I was not fully engaged so had ample holidays.

Consider your options. BTW you would be better off to relocate to Thailand at 50 than at 60.
For the fun of it...Keith
kcowan is offline   Reply With Quote
Old 06-07-2011, 02:42 PM   #7
Thinks s/he gets paid by the post
Join Date: Mar 2004
Posts: 3,175

It sounds like you're trying to make it an either/or decision for 50 or 60.
It can be in-between 50 and 60, too, can't it?

Some other variables to consider:
  • longevity in your family, and how well they 'age' (i.e. keep their faculties and physical abilities)
  • your own physical condition
  • what you might like to spend your free time (in early retirement) doing. Will aging (especially, if in poorer health) cut into being able to do it?
I've heard of too many people who have delayed doing things ("Oh, we'll take that trip to X when we retire", "We'll get a RV and travel the country when we retire, etc.) only to either die early or develop some condition/ailment that precludes them doing whatever they were delaying doing. As someone once said, "Tomorrow is promised to no one."

omni550 is offline   Reply With Quote

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

» Quick Links

All times are GMT -6. The time now is 12:19 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.