Who Is Your Role Model for Retirement?

[mpeirce]

Not exactly a role model, but I worked with a guy who actually retired. Sounds a little odd, but not a lot of the people I worked with retired or were anywhere near retirement.

I had heard he had retired and it got me thinking about it as well.

On a whim, I did a search on him. That brought me here. Sadly, he’s gone now. But he was an inspiration for me.

[EastWest Gal]

I have an uncle who retired at 49. My dad retired at 62 after 40 years in big oil. He made much more in retirement than he did working. The value of investing.

[travelover]

No role model, but I was born lazy, so it was easy to quit working. I always thought it was a bad idea, starting with my paper route at 14.

[Escapevelocity]

Quote:

Originally Posted by travelover No role model, but I was born lazy, so it was easy to quit working. I always thought it was a bad idea, starting with my paper route at 14.

Your honesty is refreshing. I am the same way. I've always leaned to the lazy end of the spectrum from when I was a kid in high school. I had a hell of a time motivating myself to do homework.

[ExPatKiwi]

There’s no bigger role model than seeing the life expectancy of current and retired staff at my company having an average age at death of 65!

[athena53]

Two. One was a guy I never met. I was at a meeting of my professional society and 2 coworkers were discussing a guy who'd worked at their previous company. Management told him he was being promoted. He said he didn't want the promotion. They told him he had no choice. He said, "Oh, yes, I do" and ER'd. I just found him on LinkedIn. Living in Vero Beach and says he retired in 1993 at age 44.

The other was Dad. He was managing a steel plant and was "demoted" (who knew there was such a thing?) in 1985 when he would have been about 55. He'd been saving and investing for years and decided to quit and try his hand at becoming a stockbroker. That didn't work out (he became very disillusioned at pressure to sell inappropriate products to people and the grind of cold-calling) but he and Mom bought a little house in Myrtle Beach with cash and they lived happily ever after. Really. Mom died 5 years ago and Dad died last month after entering LTC in March, 2020. I didn't expect him to have much left. He left $1.5 million. Even split among the 5 of us, it's nothing to sneeze at.

Both examples taught me that it was important to have options as I got older and not rely on "work till you drop". And, sure enough, when my BS bucket was full at age 61, I got the heck outta there.

[mz44]

Quote:

Originally Posted by youbet Bob Brinker. Learned about low cost MF's (index and otherwise), AA, etc., from him on WLS radio, Chicago. His show was from 3 PM to 6 PM on Sat and Sun. That meant that sometimes I'd be listening on a little transistor radio and ear phone while working at my bench in the factory doing some overtime!

The land of critical mass. Loved listening to Bob, and he inspired me as well.

[daylatedollarshort]

We know two couples who retired early, so I'm sure that influenced us. One person in particular was always great at finding bargains and inexpensive entertainment, plus was involved in several clubs, all with fun activities, and good at making friends. They ticked off many of the boxes of what make people happy without having a fortune, including social connections, leisure time, and living in a scenic area.

Other than that probably book authors. The Millionaire Next Door, while not a retirement book, helped with the mindset to save and invest enough to retire early. Also Retire on Less Than You Think by Fred Brock and Retirement on a Budget by John Howells. Those books really helped me understand the mindset of living well with low overhead.

[slowsaver]

My grandparents' lifestyle inspired me. They took vacations (mostly cruises, which I like), went out to nice restaurants, and had a lot of church friends that they stayed active with. I think since they grew up in the depression, they were frugal, paid off their mortgage and saved & invested for retirement and it payed off well at the end of their lives. They lived to 87 and 92.

Their kids (my parents) were the exact opposite: very bad money managers, never saved -- always spent money on dumb things and never had enough money for things their kids actually needed. Never took vacations. Dad worked until the day he died, at 72. Mom is completely financially dependent on me.

I definitely take after my grandparents.

[MasterBlaster]

Quote:

Originally Posted by Kamei Just wondering about your Role Models for retirement. In other words, who is the person(s) you are currently using as a positive model as you make day-to-day retirement decisions?

Role Model you ask ?

It would have to be Hugh Hefner. He kept working well into his old age. Until he just couldn't keep it up anymore.

[GravitySucks]

Not really a role model but Imoldernu and his posts made me feel I'd be ok.
When I retired I assumed I'd have to give up my high tax rate house. Got lucky with the extended Bull but if I ever go back to plan A of a 55+ mobile park I think life could still be good.

https://www.early-retirement.org/for...ad.php?t=62251


Sharing 23 years of Frugal Retirement

[latexman]

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!

[gooddog]

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.

[rk911]

Quote:

Originally Posted by JDPascale Loved listening to Money Talk with Bob Bringer.....that's who we learned about index funds from.

totally agree...great program although i knew about index funds before finding Bon.

[38Chevy454]

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.

[travelover]

Quote:

Originally Posted by latexman 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!

Well yea, but I think his $100,000 home is included in the net worth.

[travelover]

Quote:

Originally Posted by 38Chevy454 For me, it's the guy I see in the mirror. .......

I know, it is hard to be humble.

[razztazz]

Quote:

Originally Posted by travelover I know, it is hard to be humble.

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.

[sroby2020]

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!

[steveark]

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!