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-   -   Perhaps we should work longer? (https://www.early-retirement.org/forums/f28/perhaps-we-should-work-longer-33408.html)

Spanky 02-17-2008 12:11 AM

Quote:

You can still do OK on the technical track.
Our mega-corp has a dual ladder track also. However, the highest level is equivalent to a director. In order to get to that level, one must have at least 15 years of experience in a specific domain, influential and leadership skills.

megacorp-firee 02-17-2008 12:41 AM

Quote:

Originally Posted by CyclingInvestor (Post 616922)
You can still do OK on the technical track. I remained a bottom level peon progammer employee my
entire 27 year career in aerospace and finance. I retired in 2006 at 48 making $135k, more than many
of my friends in low to middle management, althoug less than a couple in middle management and
marketing, while working a consistent 40 hours / week.

What do you think a manager with the same amount of time and experience was making at your firm? ;D ... or your manager?

Spanky 02-17-2008 12:45 AM

Quote:

Originally Posted by megacorp-firee (Post 616939)
What do you think a manager with the same amount of time and experience was making at your firm? ;D ... or your manager?

Good point - my manager makes at least $150K + bonus + stock options.

megacorp-firee 02-17-2008 01:04 AM

Quote:

Originally Posted by Nords (Post 616929)
I'm only asking because this weekend marks the sixth year since I started my terminal leave, and I can't imagine going back to the typical office environment. Having been in both situations, I think that some people stick with the workplace because they don't have to work as hard as they'd have to work if they were their own taskmasters. I know that some days I have nobody to blame but myself for the things I've tried to do...

Hey Nords, congrats on your 6th...
I am so psych'ed and hearing this encourages me even more. It's been great and getting better every day.

Yep, I take personal responsibility for my own happiness... and I am doing a hellava great job so far. I have been able to transfer my 110% efforts from being a wage slave to as you put it 'terminal leave'. Oh I have my off days ... when it is raining outside and I don't feel like getting out of bed ... I just sleep in for another hour ... and then figure out ... ;D

megacorp-firee 02-17-2008 01:08 AM

Quote:

Originally Posted by Spanky (Post 616942)
Good point - my manager makes at least $150K + bonus + stock options.

but you are correct, when I was a brand new 1st line manager, I had most of my team making more than me ... not by much and not for long, but hey, most had over 20 years in and I had 4.

CyclingInvestor 02-17-2008 01:19 AM

Quote:

Originally Posted by megacorp-firee (Post 616939)
What do you think a manager with the same amount of time and experience was making at your firm? ;D ... or your manager?

My manager was about my age, and made a bit more base salary, with a bigger bonus.
He worked 10-12 hours / day, and almost all of it was in meetings. He had a wife
and kids, and a house with a big mortgage (I had none of those). He was shocked
that I was able to retire.

I suspect we each thought we had the better deal.

megacorp-firee 02-17-2008 02:15 AM

Quote:

Originally Posted by CyclingInvestor (Post 616950)
My manager was about my age, and made a bit more base salary, with a bigger bonus.
He worked 10-12 hours / day, and almost all of it was in meetings. He had a wife
and kids, and a house with a big mortgage (I had none of those). He was shocked
that I was able to retire.

I suspect we each thought we had the better deal.

Yep... proof positive that FIRE is not how much you make, but how much you keep.
When I was w*rking (remarkable that I can still remember :rolleyes:), the VP I reported to had a big house, a 7 series BMmer, a consumer habit that would appall FIRE forum members (3-4 starbucks, 4-6 bottled waters, a day, ... copious drinks (hey she was normal in this respect ;D) after hours (meaning 10 or 11 at night). Her DH also had a successful career going for him. However, she was amazed that I was able to FIRE when I did. I love happy endings ... don't you? :smitten:

chinaco 02-17-2008 04:03 AM

Can't argue with any of the positions listed.


There will be a large number of people financially unprepared for retirement. It would be good if they understood that before they tried to hang up their job.

rs0460a 02-17-2008 08:45 AM

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Originally Posted by JustCurious (Post 616547)
Working one extra year increases retirement income by 9% per year, and working five extra years increases retirement income by 56% per year.

Working longer may also reduce the federal deficit, and improve emotional well being and physical health.

Should People Work Longer, and Will They?

And here's some folks that have no option other than to continue to wo*k:

Retirement? What retirement? For some, work really isn't ever done -- themorningcall.com

Midpack 02-17-2008 09:15 AM

Quote:

Originally Posted by audreyh1 (Post 616597)
But once you are financially independent with a nice cushy nest egg, exactly WHAT IS THE POINT? The only reason then to continue working is because you really enjoy what you are doing.

I totally do not buy the improve emotional well being and physical health argument. Working was severely detrimental to both in my experience.

Audrey

OK folks, my post was simply another POV to Audrey's statement (above). Maybe I read it with a bias in context, she and several subsequent posters seemed to suggest that work couldn't be fulfilling or that there's something wrong with those who think organized work can be a rewarding part of life.

I don't doubt the overwhelming majority of people (myself included for now) do not enjoy their jobs, but a lucky few do and others can find work they enjoy and would prefer or golf, TV and/or excessive drinking. For those who didn't like those activities they are simply stereotypical illustrations of what retirees used to move to - you're welcome to choose others. But I have known retirees who thought they were going to play golf every day and eventually got bored with it (my Dad for one), or who watched way too much TV (my Mother-in-law; one of you mentioned Zelinksi who repeatedly mentioned the evils of too much TV) and unfortunately who drank too much in retirement (several whose drinking habits changed measurably when they retired and who will remain nameless). I never said all three went together, ie and/or.

And I also said if you can stay engaged with 100% leisure activities - then that works for you, "more power to you." Just that for some of us, contributing to society through work, maybe part time or voluntarily, adds meaning to our lives overall. We'll definitely increase our leisure activities. That simple...

audreyh1 02-17-2008 09:32 AM

Midpack, you seem to be stuck on the false idea that retirement means meaningless activities. I suppose if that's the only thing you witnessed in life, then you've had some unfortunate role models. I think many, many people on this board are totally engaged in healthy, meaningful leisure activities. Some of them are even devoted to a sporting activity (shock). What may end up being a boring passive recreative activity for one person, may end up being an incredibly challenging and stimulating activity for another. This is very much a personal thing.

Sometimes someone needs to quit work for a while to discover that there is indeed, life after work. That there is a whole universe of meaningful activities and purposes out there not defined by work, and that marching to someone else's drum is not required to find purpose in life.

And obviously, from my statement that you quoted above, I said that if someone enjoys working then they should continue to do so. Did my statement in any way indicate something was wrong with such a person? I don't think so. I know too many people who thrive in their careers. There is nothing wrong with that.

As for the "one should not retire early, but rather work or volunteer for some organization because that's the only way to truly contribute to society", you should see the huge thread that exploded on that theme!!!! Nothing wrong with choosing that path, it's just not the only meaningful one.

Audrey

Midpack 02-17-2008 09:47 AM

Wow...
 
Quote:

Originally Posted by audreyh1 (Post 617022)
As for the "one should not retire early, but rather work or volunteer for some organization because that's the only way to truly contribute to society" Audrey

Let's just agree to disagree. I was simply suggesting that work is not a 'meaningless activity' for some people - that's it. Fascinating what you attribute to me as a quote when anyone can see for themselves that what I said was markedly different:

Quote:

What I did post: "Just that for some of us, contributing to society through work, maybe part time or voluntarily, adds meaning to our lives overall. We'll definitely increase our leisure activities. That simple..."

audreyh1 02-17-2008 11:20 AM

FWIW I wasn't quoting you, Midpack. I was referring to the theme of a controversial thread from a few months ago. And I never claimed that work was a meaningless activity for everyone. Just as retirement and leisure time is not a meaningless activity for everyone.

Audrey

Dog 02-17-2008 02:06 PM

I'm sorry, but I'm at the point where work is getting in the way of me living the rest of my life. Five years ago I wouldn't have ever thought I could feel that way (former workaholic). Losing friends, family and loved ones has a way of changing one's perspective. Life is short and has way too much to offer - my bucket list is long and varied. Just need to tie up some financial loose ends - and then I'm on to the next chapter.

BunsGettingFirm 02-17-2008 04:31 PM

Quote:

Originally Posted by maddythebeagle (Post 616681)
I have worked with several folks that tried to have their emotional needs met at work....ironically, that might be why so many here are so interested in FIRE ;)

Do you mean the ones who threw temper tantrums or the type who went around being haters or the ones who talked more than they contributed or the ones who were nice but incompetent?

Spanky 02-17-2008 05:27 PM

Quote:

Originally Posted by BunsGettingFirm (Post 617226)
Do you mean the ones who threw temper tantrums or the type who went around being haters or the ones who talked more than they contributed or the ones who were nice but incompetent?

My vote: those who have contributed significantly (the work horse) but never received the recognition or the reward for their contributions because they do not make themselves visible or promote their work.


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