Introduce yourself here!

[allen76]

Hello everyone. Have spent the last 3 hours looking over some of the topics and the associated postings. I believe you have something of value here.

My wife and I have begun to think in earnest about early retirement. I look forward to learning from the forum, and perhaps contributing in some small way.

Regards to all.

Easy

 

[BUM]

Wecome a-board. I found this board only a year ago and I've used several of the gems mined here to craft my ER crown (still not done yet) . Good luck with yours....and glad to didn't post "Hi I'm easy "

BUM

 

[kz]

We're pretty much centrally located in Wisconsin. And we have family spread throughout the state that we visit often. Of course being centrally located means most all the holiday meals are at our house. But, then again, we like it that way!

Hubby and I both come from very good stock. Our parents all made it to their mid-80s...only one is deceased. (suddenly at age 85)

 

[Tulio]

Hello everyone!

Hello!

I am 54 year old and getting ready to retire next year. I have worked for many years with international business, traveling abroad and giving a lot of my time, energy and commitment to help somebody else make big profits in their business.

Sounds familiar? I guess so!

I just would like to share some thoughts with you, since there should be probably some folks here younger than me, and not willing to make the same mistakes I did. And after all you don’t have to – there is a way out of this old paradigm 40 work trap.

Now after doing a lot of research on the web about early retirement, I found some astonishing facts about life and retirement.

1) The traditional approach to retirement planning is fatally flawed. The old work, save and invest for 40 years approach has never worked well for the masses. Now, some experts are predicting that many of us will have to work well into our seventies before we will be able to retire.

2) The reason men and women struggle for 40 years to prepare for retirement is no one showed us that we could retire in less than half that time simply by correcting a few mistakes.

3) The final value of our lives will not be measured by the price of our homes, or the things we can accumulate...it will be measured by how we use our time, money and God-given talents to help other people as we make our journey through life.

4) There is a “Faster Retirement Formula” that corrects the mistakes that prevent early retirement. This wonderful formula can help you to retire debt-free in years, instead of decades.

As a matter of fact we need to get rid of our old programming, including all those beliefs that we have found not working anymore. One of the most important beliefs is exactly this very notion or old work idea of making people struggle for 40 years, saving and investing for their retirement, when in fact this time frame and formula is basically flawed.

“Hopes and dreams are being unnecessarily destroyed for millions of people around the world. Why? Because NOT ONE of us were ever taught in school how to effectively manage our money, or our time!

At best, this has robbed us of 10 to 20 extra years of financial independence - at worst it has resulted in poor financial health for millions, which has caused snowballing debt, bankruptcies, business failures, divorces in record numbers and it has destroyed the retirement dreams of millions.”

- Kelly L. Reese, President and Founder of the Financial Freedom Society, Inc.

The bottom line folks is virtually no one gives serious consideration to the immense power that they possess when they wisely manage their time and their money at the same time.

For a full insight on Financial Freedom an Early Retirement advice, please go to the following URL and listen to free the online 'Financial Freedom Seminar'... http://www.FinancialFreedomSeminar.com/60640

I hope I could have contributed somehow to this forum.

Let me close this contact with a wise quote from Robert Bolton:

"A belief is not merely an idea that the mind possesses; it is an idea that possesses the mind."

Good luck!

Tulio

 

[playaman]

Greetings one and all!

As with a number of other postings in this column, I've been "lurking around" for quite some time. I'm pushing 58 and plan to retire in two years motivated in part by what I've been reading here.

I could technically retire now (but for the desire to stay in this jurisdiction until my youngest child graduates from a state university here and my wife's preference to work for a few more years). In truth though, I sort of "semi-retired" myself a year ago when I left a high-stress consulting firm and took a half-time job as a foundation administrator, retaining as well an adjunct faculty position at a local university and a corporate board position that I've had for several years.

Neither my wife nor I have a pension to look forward to, but together we've amassed enough for a comfortable retirement and the board position should continue for a few more years.

We're thinking about relocating to and purchasing a home in one of the 55+ "active adult" communities, probably in Texas although Nevada is not out of the question (referring specifically to Del Webb's Sun City Texas and Sun City Anthem respectively although we are open to other possibilities as well).

We're going to spend a few days at each location this summer to help us decide if one of those communities really makes sense, but I wonder if there are folks out there who have experience and are willing to share it? I'd appreciate the input.

Thanks.

Playaman

 

[John Galt]

Hello playaman! We did not research 55+ communities
because we did not think they would work for us.
However, I understand the appeal. In fact, a friend
retired and moved to "The Villages" in Florida and he
claims they love it. My wife and I are more tuned
to being off by ourselves and speaking for myself, I tend
to be a bit of a loner and self-entertaining. OTOH,
some day we might look into it (55+ spots).

JG

 

[bubbie2leo]

Hello everyone...just found this site. Think it is wonderful. I am 50 yrs old, raising a 3 yr old granddaughter. Working...but very concerned about getting ready for Retirment. Have just over $30K saved and worried a bout how we will get there? Any suggestions.

 

[yakers]

There are a lot of folks who can help with your question but they will need a lot more details. Do you expect a pension? How much from Social Security? How about real estate? One big issue for some folks is medical costs. You may have enough assets around elswhere but if it is only $30K in total resources you are about $1M short by conventional measurements.

 

[twincity]

Hello All,

I'm 57 1/2 and in my first week of early retirement. I must say I'm absolutely enjoying my ER. I'm still decompressing from my final job in which I was on call for 24/7, 365. Now I can sleep through the night without worrying about a phone call from work. I'm also struck by how many work related issues I took home with me without even realizing it. And how much these work related issues interfered with my home life. Those issues are gone and I no longer have to think about them.

I've joined a gym. I plan on working out, taking care of my health, taking charge of my life, enjoying my family, and enjoying my time.

This is a great forum and I've gotten a lot of excellent information from it.

Twincity

 

[Chester_A._Riley]

I have enjoyed reading the posts to this forum for some time and have learned a great deal. I feel that the discussions are always worthwhile and have gone a long way toward assisting me in making the decision to retire.

I am 58, single and will receive a $27K pension (COLA). I have a 401(k) from a previous employer of $267K that I have not yet rolled-over to an IRA. My present 401(k) has only $5K, but I have an IRA with $41K and a Roth IRA that has about $18K. I also have approximately $85K in cash and $50K in taxable investments. My allocation is 50/50, not counting the cash.

The equity in my home is around $300K and I plan to relocate (although I haven't actually determined where I would like to go at this point). I drive a ten year-old pickup truck and spend only moderately.

FIRECALC indicated that I might be able to count on a yearly gross income of over $60K, which seems like more than enough to survive or even prosper, based on what I have read here.

I would like to know if this is a valid assumption. Also, is a period of part-time work prior to selling my home and relocating worth considering at this point? I should point out that I enjoy my job (but not the commute). However, I would also like to take advantage of my remaining years of good health and possibly spend some time on pursuits other than work: travel, hobbies, visiting friends and family, etc.

Your responses and advice would be most welcome.

 

[Martha]

Chester, the cola pension has a lot of value so long so long as the source of the pension is healthy. I assume you are eligible for social security when you reach age 62--do you have an idea what that amount is? I assume the home is mortgage free? Do you also have retirement health insurance? If so, you look in good shape to me.

 

[Chester_A._Riley]

Thanks, Martha. My home has an $180k mortgage, but the homes around me appear to be selling within a week or two, so I am not really concerned. My last social security statement noted a $1340 monthly benefit at age 62 (I suppose this is IF I continue to work ‘til 62?). And, yes, my health insurance will continue at my group rate until I am eligible for Medicare, although I must pay the monthly charges, once retired.

 

[John Galt]

Hello Chester! If I was single with what you have, I
could hang it up and live the Life of Riley Good luck!

JG

 

[Chester_A._Riley]

Thanks, JG. I am impressed that you noticed the William Bendix link. 8)

I have a great deal of respect for the critical manner in which members of this forum approach most questions. The real life experience of the folks that post here is very valuable. It is quite revealing that the net worth required for FI has proven to be so much less than I was led to believe by the alleged financial experts in the MSM.

So, since there have been no negative comments, I suppose that I am in pretty fair shape financially. And I have no reason to claim "Wotta revoltin development this is!"

 

[BUM]

Hi Rile,

Sounds like the sale of your home and where and how much you spend for the next Casa de Riley is an important ingredient in your financial future. If you can sell high and buy low in an area that suits you... you'll be home free!

BUM

 

[Chester_A._Riley]

I suppose that's the way I should be thinking at this point, Bum. Having a home that is mortgage-free is certainly an essential ingredient. I have been considering a move to Tennessee; I have lived in Florida, which seems to be the usual retirement destination, in the past and found the extended hot weather a bit too much for me.

Am I correct in assuming that I am otherwize within a comfortable margin for covering normal living expences?

I am rather frugal (cheap) and rarely spend on expensive items without an extremely detailed examination.

 

[haha]

Am I correct in assuming that I am otherwize within a comfortable margin for covering normal living expences?
I am rather frugal (cheap) and rarely spend on expensive items without an extremely detailed examination.

Someone with your resources who is comfortable being cheap should be absolutely OK.

As I see it, your immediate income will be $27,000 pa. In 4 years, that will increase with SS by $16,080 to $43,080. You have $300,000 home equity that you hope to pull out soon, and $461,000 in various taxable and retirement investment assets. You have adequate liquidity for your short term needs, and to bridge until your home is sold or your SS kicks in. If you capitalize your assets with an SWR of 3-4%, you get somehere around $22,000 to $29,000 additional. So you would have at least $65,000 to pay rent or mortgage, health insurance and your other expenses.

If you feel that you have some specific area of vulnerability that we haven't noticed, just point it out.

But knowing only the above, it looks good to me!

Mikey

 

[Chester_A._Riley]

Thank you, mikey. There are no areas of vulnerability that I am aware of at this point.

A quick analysis by a person with no stake in my situation, and has some experience with retirement, is exactly what I needed.

The real world information available on this board is very valuable and is most appreciated.

 

[ER@40]

Greetings 8). Chanced upon site - seems to be genuinely nice (and clever) folks here. I'm Irish, but work and live in both Europe & US. Work is Derivatives Trading/IT. Hobbies: Music (2CD's), Film (half a dozen scripts), Cycling, Travel. If anyone has any thoughts or has tried the stuff below please let me know.


Q1. Good time to convert Euro assets to US$ or not?
(Long-term outlook for US and the dollar?)

Q2. Tax haven work, anyone ever ventured?

Q3. ER income from Real-Estate or Equities?
(The numbers appear close 3.5% rental yields vs ~4% Fund SWR, but which is safer/better re: Q4.)

Q4. Lifesavings secure in Funds after Worldcon/Enrot/Equitable Life?

Q5. House price correction risk as rates go up?

Q6. ER to Canada or US?

Q7. Prop arbitrage i.e. buy a home now in CA (>20% apprec), and sell home in IL (<8% apprec)?

Q8. Locking in FX rates. Read the posts but this still seems a tricky area . . .

Q9. Anyone Trade / mgt their own portfolios / Assets?

 

[bpp]

Hi folks,

Another potential refugee from NFB here, like Bookm.
I have lurked here occasionally, seems like a nice group
of people. I'm an American living in Japan, not particularly
looking to RE (I like my job), but certainly interested in FI,
because you just never know what the future will bring.
Having lived in the US in the 70s/80s, with one year in the
UK in there, and Japan in the 90s/00s, I have seen a lot
of economic malaise in my life, and I don't think that I would
trust any good times to last, should I ever find myself in the
right time and place to experience them. My basic strategy
is to emphasize saving, diversification, and low costs.

But enough about me for now. See you around,
Bpp

 

[Beachbumz]

Hi Bpp!

It's good to see you here!

Beachbumz 8)

 

[bpp]

Thanks, Beachbumz!

Bpp

 

[Bookm]

Greetings bpp, short time no see. Nice to see you here. I'm happy to know you'll be here to talk with as well.

Bookm

 

[Beachbumz]

Hi Bookm!

It's good to see you over here too!

Beachbumz 8)

 

[Bookm]

Hi Bookm!

It's good to see you over here too!

Beachbumz  8)

Likewise Beachbumz. I didn't know you were so active here. All the boards combined you posted at in the recent past, you have been quite busy.

I don't know if you read my question I posted at NFB the last day there or not, but I didn't get to find out if you did. It was about a place in Port Canaveral called Grills tiki bar?

Bookm