Top Ten Things We Don't See On The Board

[uncledrz]

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\                         life has a way of getting complicated on you in ways you never conceived of when you were 27.          




           

         

Absolutely true.  At the same time one can view complications as hurdles or opportunities.  Roadblocks or temporary stops along the way.  Face them head on and then go on living.  Once was told "It's not a dress rehearsal", that comment has stuck with me.

Donner, there are plenty of things that I want to  and plan on doing at 57, and 67 and 77.  I just happen to know 80 year olds who are more active than I and love their life.  I also know 80 year olds who haven't had a good day in the past 30 years.
Uncledrz

 

[BUM]

Mostly, its the same old yadda, yadda, by the same set of smug old pharts who have an inflated sense of their superior brand of living and investment expertise. Actually, I think some of these guys are feeling a little vulnerable. Maybe they have good reason to.

Donner

Your smug old pharts are often collectively referred to as WOOFYS (Well Off Old Folks). Hope to join that church and sit in my own pew.

BUM

 

[Mr._johngalt]

Mikey is correct, although I have no quarrel with Donner or anyone who
wants to continue with their working lifestyle post-ER, or work longer
to enlarge their cushion. In fact, I have no problem with
whatever anyone does ER-wise, as long as they don't mess with my life/plans. Indeed, I wish happiness
and contentment for the whole universe. May the Force be with them. In marked contrast to Donner however, I chose to ER
at a spending level at approx. 25% of when I worked and figure
I could get it under 20% with no sweat. A big pile of money would be nice. I don't have it and so we do what we can with what we
have.

JG

 

[tozz]

Hey Donner,

I, for one, am enjoying this thread.  Being ten years your junior, I guess I fall somewhere between young and naive, and clucking old phart.  I'm taking a federal early retirement in a few months partly for one of the reasons you mention--health.  That is, so far I haven't had to confront any chronic health concerns.  So I will git while the gittin's good. 

Although my version of the game is to take an extended sabbatical then re-enter the workforce, I still share many of the questions you raise in your original message.  My genetic heritage includes now deceased males who retired early, then did.......nothing.  Or rather, they ate and slept and ate until they eventually blew up.  That's not my ambition, though I have vague worries that I may later embrace my destiny.

tozz

 

[newellcr]

Donner,

Thanks for the thoughtful reply. To the extent I can, I understand. For some reason your earlier post reminded me of my 95 year old great aunt. I've seen her stare at a 12 lane city street and jay walk her way to the double yellow line to await the next jay walking adventure. It seems that some folks age at different rates if that makes any sense.

I've been planning FI/RE since I was 21. The plan allows for a good balance of current and deferred gratification. 16 years into it, the plan seems to be on target. Yes, the target changes a little from time to time, but the gist is the same. That's what prompted my question. For me, it's been a slow, steady plodding towards FI/RE that hasn't changed too much even with the arrival of my son and daughter.

Kind Regards,

Chris

 

[bow-tie]

Donner,

I, too, appreciate the reply. I been wanting to know what's on the other side of jobbing for a living since I got out of college, 'bout 7 years now. I try, but can't figure out how, my philosophy of financial independece and living my own life on my own terms could possibly change, but who knows what the future holds.

Thanks, and best of luck to you and your Mrs.

 

[bow-tie]

Cut-throat and Nords,

Thank you, too, for your replies.  It gives me hope that although I am forced to grow older, I don't necessarily have to grow up...     I'll drink to THAT.

 

[ESRBob]

Donner,
Thanks for your posts -- they describe well a certain pre-ER stasis that, if left alone, might just keep you in the 'let me just work for 2 more years' loop. So it is worth digging into a bit.

I think what is missing is a vision of what you want to do with your life -- now or after ER.

Up to now, everything is about planning the financial part. Whether you choose to trust in it or not, or whether another 5% or 10% would always be welcome, it sounds as though you are probably close enough financially to ER today, or at least within a few years. That is no longer the issue, and you need to forget about the financial stuff for now.

What you need to do now is figure out what you might feel is missing from life. What do you feel passionate about? Do you have any new friends? New interests? Do you feel resentful of work a little because it is keeping you from starting on project x, y or z that you really are fired up about? Take these answers and work with them. If there aren't too many things you can say 'yes' to, then work on that . What did you love to do when you were 22? Did you always want to ride a motorcycle? Or backpack the Appalachian Trail? Maybe get a sailboat? Or was it something more along the lines of developing an art or craft to a degree you could feel pretty good about the quality of the work you were turning out, learn to play the bagpipes or make intricate models of ships in bottles. Maybe it is to get involved with youth groups and take kids to build Habitat for Humanity houses in a poor neighborhood in your state Who knows? But my strong sense is that until you get to the heart of what _you_ really care about, you'll be sitting on the other side of the fence, thinking about how it is scary or uncertain over here.

Once you know why you want to ER, why work is holding you back from your true destiny, then you'll put up with all sorts of uncertainty or even financial sacrifices to be able to have all your time free to really live the new life you are charting for yourself.

Problem is, it won't be all clear at first, and it may be impossible to be really clear on it until you stop, spend a year or two floundering around trying things and finding yourself led toward the thing that is really going to sustain you for the long run. So you might have to jump in first and then figure out why you did it later.

This isn't so bad once your realize that everybody has to retire sooner or later, and figure this all out. So whether you face up to this at 57 or 67 or 77, it is going to be the same challenge. Might as well get an early start on it!

Good luck with this -- for some, it is arguably the hardest part of the whole ER deal, completely different in warp and woof from learning to LBYM or learning to make and save lots of money.

WOOF -- I love it.

5 years into ER and I am still figuring out why I did it, but now I don't mind.

 

[Donner]

Nords and others--

           Thanks for the links.  I will check them out.


ES_R Bob--

           I think in your usual perceptive way you have come closest to assessing my situation.
As for retirement itself, I am looking forward to it.  Don’t mistake my probing, questioning and testing of retirement issues as a reluctance to do retirement.  Quite the contrary.  Excited by the prospect.  I'm just poking a stick at the thing is all.

            I recently had a phone conversation with one of my old bosses.  A great guy.  Hadn’t heard from him in years and years.  I asked him to remind me when he retired.  Dec. 1989, at the age of 52.  Took a penalty against the annuity for retiring before 55.   I asked what he was doing in retirement.  He regaled me with a list of jobs and social involvements with various groups over the years.  Divorced and remarried.  Joined the Church. Moved to the South.  Currently selling real estate.   Really, several lifetimes of living packed into 16 years of retirement.  Well, I asked him, do you consider yourself retired, or working, or what?  “Retired but active” he said.  “You gotta stay active” he said, “or otherwise you’re gonna roll up and die.”   I think that’s my path, health allowing.  So what ya gonna DO Donner?  Well, I don’t have the answer to that yet.  But I am noodling the problem.  It will involve employment of some kind outside the home.  Maybe not paid employment – but employment nevertheless. That is to say, work.   When I discover just exaclty what its going to be you guys will be the first to know.

Donner 

 

[Nords]

“Retired but active” he said.  “You gotta stay active” he said, “or otherwise you’re gonna roll up and die.”

Admirable sentiment, but in three years of ER I have NEVER arisen in the morning wondering "Gee, how will I stay active today?" Among parenting, home maintenance/improvement, groundskeeping, reading, tae kwon do, and surfing there's still not enough hours in the day. And I'd like to cut back on at least three of those activities!

That is to say, work.

It bears repeating-- work in "retirement" (I know, oxymoronic) is for those who aren't taking responsibility for their own entertainment & fulfillment.

Donner, I think you have a terminal case of paralysis by analysis.

 

[Mr._johngalt]

It bears repeating-- work in "retirement" (I know, oxymoronic) is for those who aren't taking responsibility for their own entertainment & fulfillment.

Donner, I think you have a terminal case of paralysis by analysis.

Hi Nords, yep, I agree........never enough time.

Re. "paralysis by analysis", I use that one all the time. The other day
I was having lunch with a friend (my age) who said he had never heard it before. Said he would use it for sure. I gave him permission!

JG

 

[Cut-Throat]

We also have a saying up here in Minnesota. Work is for people that don't know how to fish.

 

[JLP]

Nords,

Thanks for posting the Reuters links.  I have seen quite a few hits from this forum.  Much appreciated!

JLP

http://allthingsfinancial.blogspot.com

 

[spike]

I guess the original post was about ER and pitfalls? I retired when I was 40, that was my goal. It was nice at first, but I think I was to young to take it easy. My wife and I have a very good marriage, if you don't have a strong marriage IMHO it's a bad idea.

We traveled extensively and basically went to every country we wanted to.

But I was unprepaired for the rising health insurance, cost of autos, home prices etc.

One day my wife gives me an information sheet with a job on it and says why don't you apply. I did and I got it. So now I have a second career, great insurance, and I'll get a nice retirement also.

I had enough money to retire but not enough to retire in style.

I spend more for groceries now than when all the kids were home. My property taxes are half as much as my first house cost. It seems we have 3 to 4 birthday gifts every month. Then I need to help a kid money wise here or there.

I guess the old saying that you never can be to thin, to pretty or to rich may be right.

I would like to work now until I can get Medicare and then I am not sure. We talked about a motorhome and travel the U.S. I am from the Midwest and would like to relocate somewhere where it's not such a tax state, with warmer weather. Not sure where and open for suggestions. I hate big cities and like the simple country life.

 

[haha]

Spike, how long were you out before returning to work?

M

 

[retire@40]

I had enough money to retire but not enough to retire in style.

I think it's important to retire with enough so you can't label yourself as cheap.  I don't see the point to retiring if you are going to deny yourself (or worse, your family) certain things you know you would enjoy with an average income.  I don't mean denying yourself things like a new 2005 Mercedes.  I mean denying yourself things like a modestly priced car when you've grown accustomed to having a car your whole working life.

 

[Martha]

Spike, I appreciate your story. I guess that is why there is an active "plan B" thread. One of the perils of retiring very young is that it is impossible to predict all that may change. And work isn't that awful; I would rather work for a few more years than try to live miserly for 40-50 years after retirement. At least, that is what I have been doing for the last couple of years.

Like Mikey (HaHa) I am curious about how many years you were out of the workforce. Also, did you go back to a new type of work?

 

[spike]

I retired for 5 years, fixed everything on my house, got a black belt in T-Kwon-do, maybe drove the wife a little nuts.

I changed carriers, took a government job. Great benefits, wish I would of started here when I was 18, big retirement benefits.

I was always self-employed and one of the biggest mistakes I made was not realizing how much cash you need until you croak. These big retirements are worth a small fortune. It would take lots of money to make the kind of monthly income these retirement plans pay.

I went into real estate and bought lots of buildings so when they were paid off I had my own annuity. But after 25 years of rental property it became a big pain. The quality of tenants went lower every year. The low interest rates and no down payment loans took the best tenants off the rental market. So I sold off the buildings. I wanted to be able to leave the state or country without being obligated to manage my property. I make less money but the blood pressure is much lower.

I guess money isn't everything but it's a secure feeling to know your not going to starve.

 

[Nords]

I retired for 5 years, fixed everything on my house, got a black belt in T-Kwon-do, maybe drove the wife a little nuts.

Oh, great. Next week is my third anniversary of ER.

I'd rather take Unclemick's or Cut-Throat's approaches. I'm glad it's working for you, Spike, but except for the black belt I sure hope it turns out differently for me...

 

[Mr._johngalt]

I guess the old saying that you never can be to thin, to pretty or to rich may be right.

I would like to work now until I can get Medicare and then I am not sure. We talked about a motorhome and travel the U.S. I am from the Midwest and would like to relocate somewhere where it's not such a tax state, with warmer weather. Not sure where and open for suggestions. I hate big cities and like the simple country life.

We also "hate big cities" and love the "simple country life". But, I would exist
on road kill and cat food before going back to work.
I'm not kidding.

JG

 

[Danny]

We also "hate big cities" and love the "simple country life". But, I would exist
on road kill and cat food before going back to work.
I'm not kidding.

JG

Bon Appetite Mr. G

http://home.flash.net/~rockware/chili.html

http://www.funnyjunk.com/p/roadkill_grill-gif.html

 

[OldAgePensioner]

Don't think this exactly fits here but didn't think this question deserved it's own thread.

I'm renting a Hertz car for a road trip. I don't have my own car insurance. Has anyone used a Gold or Platinum VISA/MasterCard for renting and used the insurance guarantee associated with the car? Can I trust VISA/MC to pay?

More simply. Has anyone had an accident while insured by VISA or MC?

Don't want to post on this thread that ER'd early, wrecked a rental car and now broke and back at work!

Thanks.

 

[retire@40]

I'm renting a Hertz car for a road trip. I don't have my own car insurance.  Has anyone used a Gold or Platinum VISA/MasterCard for renting and used the insurance guarantee associated with the car?  Can I trust VISA/MC to pay?

More simply.  Has anyone had an accident while insured by VISA or MC?

I do it all the time when I rent a car in the USA and overseas.  I always decline the insurance and specifically mention to the agent that I'm covered under the credit card insurance program.  They never argue with me.

However, I have never tested the system since, thankfully, I have never had an accident.

 

[Lancelot]

I think it's important to retire with enough so you can't label yourself as cheap.  I don't see the point to retiring if you are going to deny yourself (or worse, your family) certain things you know you would enjoy with an average income.  I don't mean denying yourself things like a new 2005 Mercedes.  I mean denying yourself things like a modestly priced car when you've grown accustomed to having a car your whole working life.

While I appreciate what R@40's saying, here is a different take on material posessions: I have few and -for now- don't lust for more.

I love to travel and stuff just slows me down.

In another life, I owned a car, house and all of the additional stuff that goes with ownership; like a trash can, lawnmower (gas can for the lawnmower) tools for the home and car...

Now I rent, ride the bus/subway/elevated train and enjoy my free time.

Public transportation = zero maintenance.

Finally, my time is my own.

For now, "my posessions" are travel experiences and making memories.

One thing about ER is that you have to live with yourself fulltime-no work buffer to mask insecurities. Don't get me wrong, if a person wants/needs/loves to work, knock yourself out. But if you really want to ER, craft a realistic plan then have a little faith in your numbers.

Just my take,

Lance

PS-Had to stroll down to the ATM this week to make a rent withdrawl. Man, I'm whipped. Lazy is good

 

[OldAgePensioner]

Retire@40,
yeah that's my experience also and I can't remember ever hearing about VISA not paying but I just feel shaky not knowing.


Lance,
I just took the EL (train) to Midway walked out of the terminal, caught a cab to the National Archives branch. Round trip cost $8 and was hassle free and interesting people watching and all along the way were cars stuck bumper-to-bumper. Of my 40 years of driving, I have been without a car for a total of 5-6 years and have learned to loath them.

Even thinking of not renting the Hertz car just to avoid the hassles of insurance, filling up, parking, watching out for other reckless drivers, bad weather conditions, debris on highway.

Every time I drive I feel like a little sparrow, twitching head side to side, poised for instant reaction, watching for every possible threat. Heart beating 160 time/min.