Money Magazine Retirement Article

[deserat]

Great article and congratulations on your early retirement. Your main key was to save as much as you did both pre and post tax. My husband and Ihave figured what we need to save after tax so we will cover about 10 years before the second pension kicks in. We are fortunate about the pensions, but we are also not overly dependent on them and know we need to be very frugal.

I think also that you did not deprive yourself because you picked something you really liked (cars) and splurged on that - that allowed you to enjoy and not think you were 'poor'.

Thanks for sharing - Bridget

 

[Nords]

I have updated it with the correct info. There were some errors in the publication.

I'm blissfully ignorant but curious, SWR-- now that you've been through the media version of fact-"checking", to say nothing of wardrobe, would you bother to return an interviewer's phone call? Would you consider doing one of these again if Forbes or Kiplinger's call or if Money wants a followup?

I think some of the rest of you have been interviewed, too-- if you're not getting paid or flogging a worthy cause, is it worth the effort?

 

[Sheryl]

Nice article SWR like the picture too

One more typo (looks like ER types are also proofreading sticklers, eh?)

"I'm in shorts and s T-shirt most of the time. "

 

[retire@40]

What the heck, here's another typo...

"At the time we figured we'd need at least $500,000 net worth to retire comfortable and live off the interest and investment returns."


s/b "to retire comfortably"

 

[Mr._johngalt]

What the heck, here's another typo...

"At the time we figured we'd need at least $500,000 net worth to retire comfortable and live off the interest and investment returns."


s/b "to retire comfortably"

Picky, picky, picky................

JG

 

[BabyApe]

xxxxxx

 

[sgeeeee]

I'm blissfully ignorant but curious, SWR-- now that you've been through the media version of fact-"checking", to say nothing of wardrobe, would you bother to return an interviewer's phone call?  Would you consider doing one of these again if Forbes or Kiplinger's call or if Money wants a followup?

I think some of the rest of you have been interviewed, too-- if you're not getting paid or flogging a worthy cause, is it worth the effort?

I've been through the drill on a couple of book releases.

Because there is an undetermined time constant associated with all publicity, it is difficult to tell what works and what doesn't. But in general, the more crap you do, the more the book sells. I could never tell whether the various newspaper reviews, magazine reviews, radio interviews and television interviews helped or hurt. But when I quit doing them, sales fell.

 

[Mr._johngalt]

Next month I think Money should spotlight Justin and his quest for $1 million of 0% APR credit.

It is a good story, but might spell the end of the
"golden goose". If everyone was doing it then it
wouldn't work, obviously.

JG

 

[ShokWaveRider]

Thanx for all the corrections folks. I am an engineer NOT a writer, but I want to get it up there in it's correct form.

SWR

 

[wanderer69]

What month was it published? Is it online?

 

[Mr._johngalt]

What month was it published?  Is it online?

December, inside the back cover. Don't think it is on-=line.
Didn't check.

JG

 

[justin]

Next month I think Money should spotlight Justin and his quest for $1 million of 0% APR credit.

I want to be just another number in the CC company's files. No Money profile for me. Besides, the amounts I'll be making from the zero percent CC offers is very small relative to my family's earned income and returns from traditional investments.

Funny that I just read this post. Just got off the phone from the CC company. They wanted to know when they could send me the 0% balance transfer check from my latest CC I received. They're so generous

 

[BabyApe]

xxxxx

 

[acg]

I thought about what JohnGalt2U said and although it seems to make sense for the CC cos to shut guys like you down I don't think they would.  They know that they are vulnerable to this kind of thing but it is so incredibly minor compared to what they are making by hooking everyone else on their credit card it's just a cost of doing business.  Plus how many people in our society today have the discipline, administration skills, and gratification postponement ability of Justin?  Even if a 1000 people tried it at the beginning enough would end up spending the advanced cash and it would be profitable for the CC company.   

I checked my po box today but no offers.

A few years back, I rec'd a free offer from an unknown bank (I think in Des Moines) which gave me a $10k line of credit and sent free access checks...offering 1% free bonus money! So every month, they would send me a blank check, which I would write for $10k and cash into my savings account (interest back then was @ 8% too!). When I would recieve my monthly statement, I would send them back a check for $9900 (less my 1% bonus!). Another access check would come in the mail, and I repeated the process. This went on well over a year (of which I gained over $1200 plus 8% on their money! (OPM  ).

All it cost me back then was the cost of postage (no on-line banking or auto pay programs).

I told all my close friends, (none of which took advantage of the free money by the way)...a year or so later, the bank finally got wise and stopped sending me the free access checks

It was fun while it lasted. (Although I played with guilt in my mind for a while thinking it was fraud...but hey, they kept sending me this "offer I couldn't refuse"!

 

[acg]

Great article and congratulations on your ER and FI. Enjoy your travels...

 

[justin]

I thought about what JohnGalt2U said and although it seems to make sense for the CC cos to shut guys like you down I don't think they would. They know that they are vulnerable to this kind of thing but it is so incredibly minor compared to what they are making by hooking everyone else on their credit card it's just a cost of doing business. Plus how many people in our society today have the discipline, administration skills, and gratification postponement ability of Justin? Even if a 1000 people tried it at the beginning enough would end up spending the advanced cash and it would be profitable for the CC company.

The general public has a hard enough time depositing their monthly paycheck in time before their rent check and light bill check get cashed (assuming they wrote the checks for those bills on time). I guess I'm accustomed to zero failure tolerance at work, and I conduct my personal business with the same attention to detail. I'm sure many others here are like me. The general population - probably not many. (sorry SWR for hijacking your thread!).

 

[haha]

I guess I'm accustomed to zero failure tolerance at work, and I conduct my personal business with the same attention to detail. 

I think you have said that you are married, Justin. How do you keep your wife from rebelling over your zero tolerance protocols?

If there is anything for which I need my wife's cooperation, I have to allow a very large slop factor in time and money, or it leads to resentment.

Ha

 

[justin]

I think you have said that you are married, Justin. How do you keep your wife from rebelling over your zero tolerance protocols?

Zero tolerance for failure. Define "failure" appropriately, and with diligence, you won't fail. I don't have unreasonable expectations. We discuss important things, and agree on how to approach things. Realistic goal setting is important. Design some slack into systems to compensate for unknowns (spousal cooperation can be an unknown).

 

[Mr._johngalt]

(spousal cooperation can be an unknown).

In some cases it is ALWAYS an unknown

JG

 

[SteveR]

In some cases it is ALWAYS an unknown 

JG

That would cover just about everying in a marriage.

My spousal unit is still making the transition from her former "spend more, save less" life style to one of save more spend less. She is now maxed out in her 401(k) and I had her take her bonus and put as much as she could into "catch up contributions." The rest went into a small spending account that is hers alone so she can still get the emotional rewards from retail therapy she seems to need from time to time.

 

[Jay_Gatsby]

That would cover just about everying in a marriage. 

My spousal unit is still making the transition from her former "spend more, save less" life style to one of save more spend less.  She is now maxed out in her 401(k) and I had her take her bonus and put as much as she could into "catch up contributions."  The rest went into a small spending account that is hers alone so she can still get the emotional rewards from retail therapy she seems to need from time to time. 

"Retail Therapy" -- great term

 

[mathjak107]

we are working on a portfolio makeover article with them now..we are doing the photo shoot wed...this sounds pretty exciting...more to follow.