Stop Waiting! A Rant

[jimbee]

Quote:

Originally Posted by Carpediem Actually the calculated tax is $13,500 - $90k x 15% (fed and state) = $76,500. That tax rate is probably high but better safe than sorry.

Ok, please excuse my error.

[RunningBum]

Quote:

Originally Posted by joeea I see these rants a lot here and I honestly don't understand the point. My best guess is that it makes people feel better about their own decisions when they encourage others to take the same path. Hopefully the ranters aren't unsure they made the right decision. My advice is for people to try and live every day to the fullest and not to wait until they retire (early or otherwise, forced or voluntary). Do whatever it is that makes you and your family happiest. Enjoy what you are doing throughout your life and you'll always be happy.

I pretty much agree, though I haven't given thought to the motivations of these posters.

I'm happy to look at someone's financial situation and give my opinion whether they can retire. But it's not my place to tell someone they should retire, and it certainly wouldn't be a rant if they don't.

[Teacher Terry]

A good friend of mine didn’t want to retire. Unfortunately, after surviving stage 4 cancer all the chemo through the years gave her early Alzheimer’s and she had too. It was sad. I still teach my online college class because I love it. I also do a little consulting. Everyone is different.

[ER Eddie]

Thanks for the reminder, marko. It's easy for me to stay in the familiar rut, squirreling away more nuts for winter. But if I keep doing that, life dries up.

I not facing death with any great fears -- in fact, it sounds like the ultimate retirement package, from what I've heard -- but this is still the only life I'll ever have, as me. I'll be damned if I waste it trying to pile up a little more money, when I clearly don't need any more.

[Luck_Club]

Sad topic:

Was at my local grocery store today and mentioned I hadn't seen "the butcher" in a while. Is he still around? "No he passed 4 months ago." was the reply. She went on to say he had recently decided he was going to retire this January. He was 62, and died in his chair before going to work 1 day.

FWIW I've made the conscious decision to continue on at my very low stress work at home job until it interferes with what I want to do. Stories like the above are sad reminders of how fortunate I am to have the flexibility to work from anywhere in the world, and make great money for very little "scheduled" commitment of my time.

[jollystomper]

As a former OMYer, my main suggestion for those who chose to wait is, if possible, to start scaling back and begin the transition to your retirement, so that you aproach retirement as a "glide path" and not a sudden crash landing.

Everyone has different circumstances varies. For me my OMY time included:
- Mentally preparing to be layed off by Megacorp, if Megacorp chose to do so.
- Continuing to contribute (and not burn bridges) at work, but to give others more responsibility (and more glory) for things I would normally have done.
- Reduce the job stress as much as possible (being prepared to go makes so many job "issues" seem trivial)

- Work from home as much as possible to get out of that "commute" mindset.

For me, this was a good way to "wait" until I pulled the plug. I understand not everyone can do this, but perhaps this can help a few.

[marko]

OP here.

Gee. My post was intended as a fairly lighthearted observation on how one should not let time slip away while deciding on whether to make the jump.

No intention of telling anyone to do anything. If my "stop waiting and go for it" is considered as some sort of command to be taken literally regardless of one's personal situation, I'm not sure how to respond.

We had a thread this week that went on and on with dozens of folks encouraging a poster who was afraid of running out of money...which is what inspired my post here.

Having been able to RE comfortably since my 32nd birthday, I have no need to justify my decision (forced or otherwise) to have RE'd at 52. My "path" was somewhat unique so I'm not trying to "make myself feel better by encouraging others". Not a path many can follow anyway.

I do know that my brother had a massive, work-induced, disabling stroke 2 months before he planned to RE so I was hoping that those who are able and interested but hesitant might take my insights on the shortness of time to perhaps add my small input to their larger equation.

I have no 'motivation' here; just some musings on a slow rainy day; no coercion was intended, nor I hope, implied.

[Cut-Throat]

Quote:

Originally Posted by marko OP here. Gee. My post was intended as a fairly lighthearted observation on how one should not let time slip away while deciding on whether to make the jump.

Much better and far more realistic than the posts touting a 2% Withdrawal Rate to be able to cover retirement expenses....

[RunningBum]

Quote:

Originally Posted by marko OP here. Gee. My post was intended as a fairly lighthearted observation on how one should not let time slip away while deciding on whether to make the jump.

Well, you put rant in both the title and the first line of the first post. That's not a good start if you're trying to be lighthearted.

I'll move on.

[marko]

Quote:

Originally Posted by RunningBum Well, you put rant in both the title and the first line of the first post. That's not a good start if you're trying to be lighthearted.

"Maybe that word doesn't mean what I think it means" (Princess Bride) but let's not pull out Webster at this hour.

Reading the replies, I think most folks know what I was getting at.

[friar1610]

Quote:

Originally Posted by LOL! So have you told the car sales person that this is the last car you will ever buy?

Bought a car this past spring just before my 73rd birthday. Same make and model as the previous one that gave me 13 years. I've jokingly (?!) been saying that if this one does the same it'll last longer than I will.

[ER Eddie]

Quote:

Originally Posted by marko OP here. Gee. My post was intended as a fairly lighthearted observation on how one should not let time slip away while deciding on whether to make the jump. No intention of telling anyone to do anything. If my "stop waiting and go for it" is considered as some sort of command to be taken literally regardless of one's personal situation, I'm not sure how to respond. [...] I have no 'motivation' here; just some musings on a slow rainy day; no coercion was intended, nor I hope, implied.

I don't know why anyone would interpret it that way. That seems like a very exaggerated view of the importance or influence of a single post on the internet -- as if a post from a stranger could really have a determining influence on whether someone decides to retire or not.

I mean, come on. A single post, or a series of them, isn't going to push any rational person into or out of retirement. Retirement is a much bigger decision than that. Anyone who is unduly influenced by a single post on the internet, with regard to a major decision like that, needs their head examined.

I appreciated your post and your reminder. I think it's natural to forget about death or assume we'll just keep on trucking, so it's good to be reminded that we will eventually plotz. I was talking to a woman a week ago who was 61 and had seen several friends of hers die in their 50s, and it was changing her views of when to retire. This is just one story among many.

Don't worry about "protecting" us from your opinion. We're all adults here and can make up our own minds. Besides, it's not like these thoughts are scandalous or anything that people haven't thought about anyhow.

[brucethebroker]

[QUOTE=HadEnuff;2158533]
However, I recently turned 65, (well, hell, I guess it wasn't that recently. It was 3 months ago), and DW was worried about the money we are spending to snowbird this year. I remind ed her that in in 15 years I would be 80. To me, that's the message./QUOTE]

Yup, I agree. If I only have a dozen or so years of health left, do I REALLY want to spend it up north, with gray skies and cold temps? Or would I rather "double up" on spring time and enjoy winters outside down south

[Dreamer]

My sister, who is 70, and I were just discussing the same thing. I am 65. We have no idea where the time has gone and can't believe that we will be 80 in such a short time. We are now the "oldest" generation. (We have 2 aunts that are still living.).

I retired at 53 from my career job and then decided to go back to work part-time for 5 years to finish getting my social security credits. It was a silly goal of mine and if I had it to do over, I would say forget it.

I unexpectantly was sick this year, went to the ER twice and the second time they did emergency surgery. I had sepsis and they kept asking me why did I wait so long to get treated. I kept telling everyone that I could not have surgery yet, because my cardiologist wanted me off of my blood thinner, Xarelto, for 5 days before surgery. No one would listen and I finally accepted that I would probably die. I was so sick at the time that I really did not care. Life is short and you never know when your life can change quickly.

I am glad that I retired from my career job at 53 in 6/2006 and was able to have so many good times. I hope to live for many more years, but if I am not able to, at least I did not die at my desk at work.

[Jerry1]

Quote:

Originally Posted by Carpediem Actually the calculated tax is $13,500 - $90k x 15% (fed and state) = $76,500. That tax rate is probably high but better safe than sorry.

That’s still pretty high. For Federal, $90K with married filing joint, you subtract $24.4K. The tax on $65.6K is $7,484. Not sure what your State Tax is, but seems unlikely that it’s almost as high as your Federal Tax.

[CaptTom]

I still chuckle when I buy a tube of caulk, or pick out roof shingles, which say "40 year guarantee" on them.

Good! After that, it's not MY problem!

[Car-Guy]

I'm a similar age and have almost exactly the same thoughts as the OP. Except I don't expect to be here in 15 years and certainly not 20. And I guess that's okay with me (good thing ) I personally I don't know anyone ~20 years older than me that's in any physical/mental condition that I'd look forward to.

Many of my relatives (parents, grandparents) have lived well into their 90's and one was over 100. My memories of them in their later years are burned into my head.

Sorry, that's not for me... Getting old is not for sissies.

[joeea]

Quote:

Originally Posted by marko Gee. My post was intended as a fairly lighthearted observation on how one should not let time slip away while deciding on whether to make the jump.

STOP WAITING. It’s later than you think! Go for it. Time is NOT on your side.

...

BE PATIENT. You have the rest of your life. Relax. Enjoy your LIFE each day.

[RAE]

[QUOTE=brucethebroker;2158783]

Quote:

Originally Posted by HadEnuff However, I recently turned 65, (well, hell, I guess it wasn't that recently. It was 3 months ago), and DW was worried about the money we are spending to snowbird this year. I remind ed her that in in 15 years I would be 80. To me, that's the message./QUOTE] Yup, I agree. If I only have a dozen or so years of health left, do I REALLY want to spend it up north, with gray skies and cold temps? Or would I rather "double up" on spring time and enjoy winters outside down south

+1. We are spending more on our snowbirding trips than we used to, mostly because we stay longer down south now, before heading home. I really do not enjoy coming back to snow and ice anymore. I used to get a little nervous if we started to exceed my planned budget for the trip, but as I get older, those concerns are fading away. I'm not planning to leave a big inheritance to anyone, so I might as well enjoy myself during the last 15 (or so?) winters of my life.

[Lawrencewendall]

How does one deal with a SO who will not curb spending or stick to a budget to be able to pull the trigger?