Stop Waiting! A Rant

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.


Also, most early retirees will be getting at least some of their annual income stream from qualified dividends/capital gains, which are taxed at lower rates at least at the federal level.


My dad was always planning on retiring at 55, the earliest age he was eligible too take his pension. He had a massive coronary at 52. Thankfully my mom was able to manage on his SS survivor benefits and life insurance. But yeah, dad passing so young was definitely a major factor spurring my ER at 46.
 
Ihamo, that’s really sad. It sounds like your mom didn’t get part of his pension. We never know what life holds for us.
 
It isn't for everyone, bur ER was right for us

DH retired at 62- 10 years ago, and I at 56- 2 years ago. In both cases the best decision ever made by either. Our health improved dramatically without the stress- mine especially.

If you have an idea of what your next stage will look like, and you want to be there, it might be time to take the plunge. We didn't retire wealthy, but we did retire debt free- with enough assets to bridge me to medicare and whatever SS I get at 67 (or before if need be) and lots left over. I'm still investing for growth, so see the market now as a buying opportunity as I don't expect to tap my IRA for at least 5 more years. Since I took an ER package that included 50% contribution medical ins, and a small pension converted into an immediate 100% survivor annuity that pays for that and a little more, it doesn't really cost us that much to live. AND, we do what we want to do and go where we want to go. Lastly, we live near Houston TX (a cheap place to live, friends) near my immediate family, so we don't have to budget for those visits. Step son & fam are arriving from Pensacola- a days drive- the day after Christmas & when we go there we have found a great air BNB place for $30/ night near their home.

We're not the jet-set- we're the old Chevrolet set. We've had the good fortune of being able to travel internationally for biz and pleasure in the past, and will likely do some more, but mainly we are planning to visit rest of N. America over the next 10+ years (hubby will be 82 after 10 yrs). We like to hike, and that is cheap, so as long as we can both manage the trails, we will continue doing that (my mom is 82, and she still sometimes accompanies us on local hikes!) for pleasure travel.

Both of us have several hobbies (and I am a CASA- working just one case) and stay super busy.

Every day is a gift, a lesson that was brought home when a dear friend (after only 2 years of retirement at 60 yo) was killed by a truck while riding his bicycle earlier this year.

Friends of ours tell us that they will retire when they can take home 60k/ yr. I have a lot of friends who, like me, sure aren't bringing that much home and are doing just fine anyway.

If everything falls apart (which I don't anticipate), I have a plan to work at HEB. I'm sure not doing financial analysis like I did at mega-corp. no matter what it pays. I love HEB. They know me there already, and the managers know of my emergency plan and that I am friendly! lol

YOLO!
 
Loved your story. Thanks for posting it. Just curious - what is HEB?
 
Loved your story. Thanks for posting it. Just curious - what is HEB?

As noted above, it's a grocery store- but 100% Texan! The newer stores (luckily there are a few close by us) are upscale, but still have the traditional good prices on the stuff people buy most often. Their produce & seafood areas have a lot of offerings- all year long.

Funny- I used to hate grocery shopping even though I've always been a cook. Shopping during off times has made me actually enjoy it- go figure. :LOL:
 
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I read a book last year titled "Why Time Flies" that opened my mind to a lot of just how our brains perceive time, particularly when we reflect on time past present and future... extremely applicable to this topic and most of the posts here.

It is a bit deep, in terms of research, even suggesting that time and our presception of it is a manifestation of consciousness (gets a bit philisophically deep there)... but I would think many here would love it just as much as I did.

The general idea that I took away from it is that our brains and our perception doesn't actually follow time in a sense that it flows. Instead we reflect on time as markers that have been condensed. We can't actually think of moments, because a moment to us, no matter how small, is just a collection of things that happened during a period of time. This happens on small and large scales. That is, when we feel time is flying it's because we really truly are happiest when we aren't tracking moments of time, but rather just living it. We don't place markers in these moments so when we reflect it seems it passed faster. That is because the moments we think about time is when it slows. To the contrary the moments of tedious and boredom seem like time can never go fast enough. The one difference between these two is that in moments where we are bored, we reflect on time, and in doing so we place markers along the way. So when we reflect on a day of boredom, we can think of all those moments we thought "how long has it been..." or "how much longer will today be..." it felt like it took forever. We had a lot of markers where we thought "how long as it been" as it was going.

Ironically our brain then condenses all these boring days (weeks, months years of similarity) into routine, where it kind of recursively categorizes it down to single markers. So when we reflect back on days where we did the same thing over and over, without an deviation... they all merge into a single idea that represents the whole. In that way... being a slave to routine can make life in real time seem incredibly slow, yet in retrospect later, seem like it passed in the blink of an eye because no deviation gives us less to think on other than that one moment we pinned it all as.

So what makes us feel time is rich, longer, fuller? Why do we feel like time is slower when we are younger? Well a few reasons:
- History... when we lack a lot of history (markers to condense from similar experiences) we feel like time has been going forever, because we compare what we're doing now to what we've done in the past. As a 20 year old with about 15 years if solid memories, the last decade represents 67% of all your moments - and most everything done is new and different. To the contrary, when you're 80 and reflecting on the last decade of life. It's mixed in with about 70 years of memories, and that same decade by comparison is 12.5% of your life. It can be condensed quite a bit by calling on past experiences for reference.
- Experiences are GOLD. Doing something different. Our brains are wired to create new markers. I experienced this in real time. When I was 29, I worked myself to death. For some ungodly reason I wanted to get the largest bonus I could that year. So I took zero time off. None. Gave me a payout at the end of the year worth about 15% of my yearly income (time bought back). Yay... in retrospect that year felt like it flew by. Like I gave it away. My mind sees nothing... just routine. It saddend me, so the following year I took 4 weeks off, and every since I've forced myself to take at least 3. I use those days to travel and always do something new and different. Experience something I'ev never experienced before. I feel like age 30-33 was richer than my entire 20's because of this. I'm taking this lesson forward for the rest of my life. I don't want it to fly by... bored.
- Our brains construct of time relies on input from our senses. Our senses pass less data to our brains as we age. Some more than others. Some less because of health (mainly diet). If there is no other reason to eat healthy... this is it! Did you know that dragonflies perceive time five times faster than us. Their brains take in data faster, and process it faster. So scientists believe what they see as time (on our scale) would show us moving in slow motion. So that little bug, that may only have days out of the water to fly around and be active. Well they are experiencing five times as much reality as us per second. Our brains are a mysterious thing in that we do similar... and as we age our brains slow down gradually because we don't have as much sensory input coming in from our ears, eyes, fingers...

Keeping yourself sharp keeps time moving slower :) This is the magic behind all of those scientific studies showing that keeping the brain elastic is key. Challenge it. Do something different, and new. This doesn't have to be travel or adventure. It means get out there and try something else. Study something else. Do something else.

I did a horrible job doing this book justice. It really gives context to this most valuable thing in life... time
 
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I read a book last year titled "Why Time Flies" that opened my mind to a lot of just how our brains perceive time, particularly when we reflect on time past present and future... extremely applicable to this topic and most of the posts here.

It is a bit deep, in terms of research, even suggesting that time and our presception of it is a manifestation of consciousness (gets a bit philisophically deep there)... but I would think many here would love it just as much as I did.

The general idea that I took away from it is that our brains and our perception doesn't actually follow time in a sense that it flows. Instead we reflect on time as markers that have been condensed. We can't actually think of moments, because a moment to us, no matter how small, is just a collection of things that happened during a period of time. This happens on small and large scales. That is, when we feel time is flying it's because we really truly are happiest when we aren't tracking moments of time, but rather just living it. We don't place markers in these moments so when we reflect it seems it passed faster. That is because the moments we think about time is when it slows. To the contrary the moments of tedious and boredom seem like time can never go fast enough. The one difference between these two is that in moments where we are bored, we reflect on time, and in doing so we place markers along the way. So when we reflect on a day of boredom, we can think of all those moments we thought "how long has it been..." or "how much longer will today be..." it felt like it took forever. We had a lot of markers where we thought "how long as it been" as it was going.

Ironically our brain then condenses all these boring days (weeks, months years of similarity) into routine, where it kind of recursively categorizes it down to single markers. So when we reflect back on days where we did the same thing over and over, without an deviation... they all merge into a single idea that represents the whole. In that way... being a slave to routine can make life in real time seem incredibly slow, yet in retrospect later, seem like it passed in the blink of an eye because no deviation gives us less to think on other than that one moment we pinned it all as.

So what makes us feel time is rich, longer, fuller? Why do we feel like time is slower when we are younger? Well a few reasons:
- History... when we lack a lot of history (markers to condense from similar experiences) we feel like time has been going forever, because we compare what we're doing now to what we've done in the past. As a 20 year old with about 15 years if solid memories, the last decade represents 67% of all your moments - and most everything done is new and different. To the contrary, when you're 80 and reflecting on the last decade of life. It's mixed in with about 70 years of memories, and that same decade by comparison is 12.5% of your life. It can be condensed quite a bit by calling on past experiences for reference.
- Experiences are GOLD. Doing something different. Our brains are wired to create new markers. I experienced this in real time. When I was 29, I worked myself to death. For some ungodly reason I wanted to get the largest bonus I could that year. So I took zero time off. None. Gave me a payout at the end of the year worth about 15% of my yearly income (time bought back). Yay... in retrospect that year felt like it flew by. Like I gave it away. My mind sees nothing... just routine. It saddend me, so the following year I took 4 weeks off, and every since I've forced myself to take at least 3. I use those days to travel and always do something new and different. Experience something I'ev never experienced before. I feel like age 30-33 was richer than my entire 20's because of this. I'm taking this lesson forward for the rest of my life. I don't want it to fly by... bored.
- Our brains construct of time relies on input from our senses. Our senses pass less data to our brains as we age. Some more than others. Some less because of health (mainly diet). If there is no other reason to eat healthy... this is it! Did you know that dragonflies perceive time five times faster than us. Their brains take in data faster, and process it faster. So scientists believe what they see as time (on our scale) would show us moving in slow motion. So that little bug, that may only have days out of the water to fly around and be active. Well they are experiencing five times as much reality as us per second. Our brains are a mysterious thing in that we do similar... and as we age our brains slow down gradually because we don't have as much sensory input coming in from our ears, eyes, fingers...

Keeping yourself sharp keeps time moving slower :) This is the magic behind all of those scientific studies showing that keeping the brain elastic is key. Challenge it. Do something different, and new. This doesn't have to be travel or adventure. It means get out there and try something else. Study something else. Do something else.

I did a horrible job doing this book justice. It really gives context to this most valuable thing in life... time



I’ve always been fascinated by the perception of time as a field of study. Thanks for this!

Thanks to the OP, as well. I like these kinds of reminders. Must enjoy every day of good health, before and after FIRE, because we have zero idea how many days remain.
 
Keeping yourself sharp keeps time moving slower :) This is the magic behind all of those scientific studies showing that keeping the brain elastic is key. Challenge it. Do something different, and new. This doesn't have to be travel or adventure. It means get out there and try something else. Study something else. Do something else.

I did a horrible job doing this book justice. It really gives context to this most valuable thing in life... time

I think you did well... Even with a failing memory, it speaks to me. The "flashes" still work... Markers that are still there.

A little bit different at 83, but the 30 years of retirement (so far) are still busy... not the same as before, physically, but trying to make the most of every day. A wonderful time to enjoy the freedom of doing whatever I want, when, and how. Especially now, after about 25 of those years in the middle of social/people life... a time to explore every interest that comes along. With the ability to use technology to do deeper studies of interests that could only be done in libraries a short (sic.) time back, a way to become an expert in almost anything.
Digging in to AI is the current obsession. The impending drift into more serious memory problems is not at all discouraging. Forty years ago, this freedom would have only been a dream, but now, a dream come true.

The chart says 9 more years... to 92, but my hero, is Kelly. He and his DW Helen are in their 101st year. Jeanie is planning to come along with me, so I won't be lonesome. :)

life is good
 
Thanks to the OP, as well. I like these kinds of reminders. Must enjoy every day of good health, before and after FIRE, because we have zero idea how many days remain.

OP here. It is 8:30 PM EST. Got a call a few hours ago. My cousin, age 68 just died suddenly a few hours ago. He was in great shape and was playing basketball; went up for a shot, was unconscious by the time he hit the floor. Never came to.

We have zero idea how many days remain.
 
Sorry for your loss marko. You're absolutely right. The president of my fraternity my sophomore year was just buried a couple days ago... cancer.
 
was unconscious by the time he hit the floor. Never came to.

I tell DW that, if that's the way I go, I want a round of applause......only dying in your sleep is better.
 
OP here. It is 8:30 PM EST. Got a call a few hours ago. My cousin, age 68 just died suddenly a few hours ago. He was in great shape and was playing basketball; went up for a shot, was unconscious by the time he hit the floor. Never came to.



We have zero idea how many days remain.



I’m so sorry for your loss!
 
Marko, I am sorry to hear about your cousin. I've lost close relatives also at ages where these things are still supposed to be not common. We don't know for sure.
 
Being in my 60's, I can certainly relate to the OP.

As of today, while I have a few minor health issues, only one actually prevents me from doing most of what I want to do. That one issue is my knee which I injured 40 years ago. I can no longer work around its aches and pains. I've been putting off the surgery for years on the theory that I only want to have it done once. And, I am probably old enough for that to be the most likely result.

A few months ago I realized that even if I put off the knee replacement surgery any longer there is no guarantee that something else won't pop up soon after that and limit me again. Since the knee is the only significant limiting factor in my life, why wait? I could get it done 4-5 years from now (living with more extreme limitations each year) only to find out that some other issue arises afterwards to take its place. At least the knee can be fixed by a surgery that is commonly performed with a high degree of success. There's no guarantee that the next illness will be so accommodating.

So 2019 will be the year of repair and recovery. I can't wait for 2020. :dance:
 
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Being in my 60's, I can certainly relate to the OP.

As of today, while I have a few minor health issues, only one actually prevents me from doing most of what I want to do. That one issue is my knee which I injured 40 years ago. I can no longer work around its aches and pains. I've been putting off the surgery for years on the theory that I only want to have it done once. And, I am probably old enough for that to be the most likely result.

A few months ago I realized that even if I put off the knee replacement surgery any longer there is no guarantee that something else won't pop up soon after that and limit me again. Since the knee is the only significant limiting factor in my life, why wait? I could get it done 4-5 years from now (living with more extreme limitations each year) only to find out that some other issue arises afterwards to take its place. At least the knee can be fixed by a surgery that is commonly performed with a high degree of success. There's no guarantee that the next illness will be so accommodating.

So 2019 will be the year of repair and recovery. I can't wait for 2020. :dance:

Do it...do it now!!! My Dad passed at just shy of 91 years old and his only real complaint in life was how badly his knees hurt (and would fail him on occasion). He kept putting the surgery off until he wasn't physically able to have the surgery (his advanced COPD made anesthesia too much of a risk) and he regretted that almost every single day of his life. As a matter of fact, I think this contributed to his rapid decline towards the end as he was unable to stand on his own for any significant time and made toileting a very real problem.
 
OP (Marko) here.
Much appreciated, but no need for condolences. We were not all that close and only saw each other every few years.

My point of mentioning it is that time is a precious commodity for those of us in our 50+ years. You never know how long we have and, as this post began, a reminder to everyone to make the most of those years/days/hours however you might want to do that.
 
Sorry for your loss, Marko.
I agree, time has flown by since retirement. Only a bit over 2 years for me, but the fastest two years of my life!! But I am blessed and thankful we retired when we did. We have been able to help with family issues that we never would have been able too if we were still working, as we would not have been able to take the time off.
 
My perception of time has always been, the older you get, the less percentage of your life that each individual year is.

Example; A single year to a small 6 year old is an eternity...1/10% of their life, and it takes forever in their perception, while a year to a 60 year old is 1/60 of his life, and flies by in an instant according to him.
 
Oh, one other reason to get the knee surgery done this year, my grands are still a bit young, but I am itching to take them on a trip (along with at least one parent to babysit them, sleep with them, clean them up etc. I only want to have fun with them). In about two years they will be of an age where they can travel better, and, I hope remember some of what they experience.

One of my biggest disappointments was that my parents did not take my sister and I to Italy when we were younger. A number of cousins went, as did some friends of ours who came from Spain. Alas, my father would not go along with that thinking. I almost repeated that same mistake, but caught myself in time to take one adult daughter to Europe a few years back. Now I owe the other child and the grands a trip. It sounds like fun!
 
I'm kinda surprised with the talk of becoming aware of one's mortality slapping them in the face that no one brought up any sort of after life. Religion or not, when faced with the realization that the end is a whole lot closer than the beginning of one's life, it does beg the question; is there anything AFTER death?
 
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