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Even pirates are into FIRE
01-11-2013, 03:07 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Oct 2002
Location: Chattanooga
Posts: 3,893
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Even pirates are into FIRE
Guess the pirate business just ain't what it used to be ! And whoever heard of a pirate holding a press conference ?
Feared Somali pirate retiring from pirate business | The Sideshow - Yahoo! News
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Earning money is an action, saving money is a behavior, growing money takes a well diversified portfolio and the discipline to ignore market swings.
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01-11-2013, 03:26 PM
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#2
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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Excerpt from the link:
"After being in piracy for eight years, I have decided to renounce and quit, and from today on I will not be involved in this gang activity," Hassan said, speaking in Adado, a central Somalia town known as a pirate haven. Here's an enlightened pirate who knows when he has enough assets to retire.
When the job pressure is too great, the working hours get too long, business travel takes one too far away from home, even a job as lucrative as piracy loses its allure.
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01-11-2013, 04:12 PM
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#3
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Thinks s/he gets paid by the post
Join Date: May 2005
Location: Texas
Posts: 1,038
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But what about the loss of status? What will his co workers think of him. He is letting the team down. Does he have enough for a 3% SWR till age 95?
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In theory, theory and practice are the same. In practice, they are not.
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01-11-2013, 04:21 PM
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#4
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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This guy already threw a press conference to announce his decision. No one will be able to talk him out of it. He's quitting for real.
What I am curious about is how he's investing his portfolio, meaning his AA? Probably 100% stock as he likes risk? Or he might turn ultra conservative and does all T-bills?
Maybe 100% gold. Yes, that's it. Throughout history, pirates always do 100% gold and precious stones.
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01-11-2013, 04:25 PM
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#5
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Thinks s/he gets paid by the post
Join Date: May 2005
Location: Texas
Posts: 1,038
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Well gold always goes up in value, right?
He could get into the pirate supply business. Selling parrots, peg legs and eye patches. Safer and still profitable.
__________________
In theory, theory and practice are the same. In practice, they are not.
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01-11-2013, 04:27 PM
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#6
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: May 2008
Posts: 6,506
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 Quote:
Originally Posted by NW-Bound
Excerpt from the link: "After being in piracy for eight years, I have decided to renounce and quit, and from today on I will not be involved in this gang activity," Hassan said, speaking in Adado, a central Somalia town known as a pirate haven. Here's an enlightened pirate who knows when he has enough assets to retire.
When the job pressure is too great, the working hours get too long, business travel takes one too far away from home, even a job as lucrative as piracy loses its allure. |
Bolded part by me. I guess other gang activity is still a go.
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There must be moderation in everything, including moderation.
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01-12-2013, 02:55 PM
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#7
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,340
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And the most important question of all... What Will He Do All Day?
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When I was a kid I wanted to be older. This is not what I expected.
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01-12-2013, 03:22 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Oct 2002
Location: Chattanooga
Posts: 3,893
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Shimmer me timbers mates, he can bet he didn't buy an annuity and probably went the total market index fund route.
__________________
Earning money is an action, saving money is a behavior, growing money takes a well diversified portfolio and the discipline to ignore market swings.
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