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Hi -- new member saying hello
10-27-2009, 11:22 AM
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#1
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Dryer sheet wannabe
Join Date: Oct 2009
Location: grapevine, texas
Posts: 10
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Hi -- new member saying hello
Just joined. I am 53 years old, married with two kids in college. Looking to be financially independent by time my kids are out of school (2012). Not clear yet as to whether I retire when I become financially independent, or semi-retire and do something that interests me in line with my personal interests, with money being a secondary consideration. While not an expert, in last ten years I have adopted many of the the principals outlined in the book "The millionaire next door", which I would strongly recommend as a frame of reference in trying to develop a personal financial plan for retirement. Look forward to trying to give good advise in forums. Also hope to make a few friends out there, that I can bounce ideas off, and look to for advise from time to time.
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10-27-2009, 11:32 AM
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#2
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Moderator Emeritus
Join Date: Sep 2007
Posts: 17,773
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Welcome to the boards. I have found this a good place to "make a few friends, bounce ideas off, and look for advice." I learn things all the time that I didn't even know I wanted to learn
Looks like you will have a pleasant predicament in 2012, deciding what to do once you're financially independent. Yay!
__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
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10-27-2009, 11:35 AM
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#3
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Dryer sheet wannabe
Join Date: Oct 2009
Location: grapevine, texas
Posts: 10
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new member
Thank you for saying hello. As a new member, might I bother you with what might seem a stupid question -- what does FIRE and LBYM mean ? Thanks
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10-27-2009, 11:44 AM
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#4
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Moderator Emeritus
Join Date: Sep 2007
Posts: 17,773
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Generally speaking, they mean:
LBYM: live below your means
FIRE: financially independent, retire early
Go here for more info--
http://www.early-retirement.org/foru...rum-34884.html
__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
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10-27-2009, 11:46 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 1,183
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Welcome QMAN from an AZ neighbor.
FIRE Financial Independence Retired Early
LBYM Live Beneath Your Means
Both simple terms for your lifestyle now!
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10-27-2009, 11:50 AM
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#6
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Dryer sheet wannabe
Join Date: Oct 2009
Location: grapevine, texas
Posts: 10
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thanks. Pretty obvious. not sure why I missed it.
Quote:
Originally Posted by crazy connie
Welcome QMAN from an AZ neighbor.
FIRE Financial Independence Retired Early
LBYM Live Beneath Your Means
Both simple terms for your lifestyle now!
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10-27-2009, 11:57 AM
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#7
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 14,183
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Welcome from a fellow Metroplexer!
__________________
Have Funds, Will Retire
...not doing anything of true substance...
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10-27-2009, 04:19 PM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,204
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Welcome aboard, you've come to the right place IMO...
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
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10-27-2009, 05:40 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Jul 2006
Location: Denver
Posts: 3,505
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Welcome!
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10-27-2009, 07:24 PM
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#10
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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Welcome ! This forum is loaded with Millionaire next door types !
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10-28-2009, 07:03 AM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
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Welcome.
I poked my head in 2 1/2 years ago and I'm still here.
You can learn about anything here, from investing to horse shoeing.
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