[faithfulFrank]

RC,
We've had this conversation before. I agree that it would be shortsighted for one to think that anyone can get a sustainable job whenever they want in this economy.

That said, I have no concerns about my income after I relocate.

Frank

[Retiredcoach]

Originally Posted by faithfulFrank

RC,
We've had this conversation before. I agree that it would be shortsighted for one to think that anyone can get a sustainable job whenever they want in this economy.

That said, I have no concerns about my income after I relocate.

Frank

I guess my question is, How do you really know? You and I are uniquely fortunate as we walk away from our public service union jobs (with health benefits through Medicare and government guaranteed and vested pensions). Even with these tremendous perks to retire, this plus any savings, should equal enough income to carry you/us for the next 30 years. As I look at things, anyone uncomfortable with how shaky our economy is today must re-examine the 30 year decision. To be wrong could translate into poverty and/or significant dependence upon your children and/or some social welfare during our twilight years. It makes little sense to me that one would retire early from a well-paying and secure job, when we are dealing with such economic ills. The "good life" can still be achieved around a work schedule.

[dreamer1]

Looks like this thread is gaining some momentum. As I said before, to each their own. If you enjoy working, enjoy where you live, then so be it. Continue to enjoy. If that includes living in frigid cold with no spring, then enjoy. I on the other hand will hope that I invest well enough now to enjoy the fruits of my labor in my early 50's. Even with a tough economy, you can still make these plans in my eyes. Seeing how many others are doing this will help me to keep this plan. As Dave Ramsey says, live like no one else so later, you can live like no one else. I was just looking for those that plan early as I do to see how their plan is going. And believe me, I plan on working. I realize that things are tough right now in Florida along with the rest of the country. But, this is America!!

[gypsychic]

Originally Posted by dreamer1

Looks like this thread is gaining some momentum. As I said before, to each their own. If you enjoy working, enjoy where you live, then so be it. Continue to enjoy. If that includes living in frigid cold with no spring, then enjoy. I on the other hand will hope that I invest well enough now to enjoy the fruits of my labor in my early 50's. Even with a tough economy, you can still make these plans in my eyes. Seeing how many others are doing this will help me to keep this plan. As Dave Ramsey says, live like no one else so later, you can live like no one else. I was just looking for those that plan early as I do to see how their plan is going. And believe me, I plan on working. I realize that things are tough right now in Florida along with the rest of the country. But, this is America!!

And I will add one more thing - no one knows how many years they have on this earth, or quality years - my mama died of cancer at age 58 - my parents never got to realize their dreams. One should get as much enjoyment as possible out of this life while still being responsible of course. It's good to enjoy things while you still can. Good luck to everyone who plans to do this!

[Retiredcoach]

I guess it all comes down to how much risk each person is willing/able to tolerate. Do you want to take the risk of dying before you spend all of your money, or do you want to risk being destitute before you die? The 30 year gamble of living on one's savings and Medicare/Social Security (if it can sustain its current benefit levels), within the current state of the economy, is equivalent to playing with fire. During such an insecure economic climate where so many are seeking job security, it escapes my logic totally that one would walk away from their livelihood because they perceive that life will be automatically better someplace else.

[007.5]

[quote=dreamer1;11307837]Hello. It's been awhile since I have posted. I thought it would be a good idea to start a new thread and find out if anyone out there has the same type of plan as my wife and I. (early semi retirement) We are both 40 and have young children. But, we have a plan which calls for buying a nice home in a golf community in about 8 years and perhaps moving there by about 53 yrs old.(there are many nice communities in the Winter haven/Leesburg area as Faithful Frank can attest to) Many people I talk to think we are crazy for planning this because the thought in today's world is that you have to work until you're 70. We are saving so that we don't need to do this. I would still work part time to help keep busy. I don't want to retire at an old age when I can enjoy the beautiful Florida weather and play golf three times a week. My inlaws are currently in a CRF community in Winterhaven and feel like kids again because they are having so much fun.

Originally Posted by dreamer1

So, let's see how many others are as optimistic as me.

Thanks, Dreamer1

You want to consider the Panhandle at Baytowne Wharf Condos in Sandestin, Fl. ... very close to the coast. Upscale. Incredible Golf Course, its own huge shopping area of specialty stores , nice restaurants, fishing....all within the Community itself. I was there recently and was in awe. Do a google under : Baytowne Wharf . The Panhandle isnt as crowded , is cheaper to live in, and more moderate temperatures . Right now, its 70 f. during the day and 58 f. at night.

[KathyA11]

Originally Posted by Retiredcoach

I guess my question is, How do you really know? You and I are uniquely fortunate as we walk away from our public service union jobs (with health benefits through Medicare and government guaranteed and vested pensions). Even with these tremendous perks to retire, this plus any savings, should equal enough income to carry you/us for the next 30 years. As I look at things, anyone uncomfortable with how shaky our economy is today must re-examine the 30 year decision. To be wrong could translate into poverty and/or significant dependence upon your children and/or some social welfare during our twilight years. It makes little sense to me that one would retire early from a well-paying and secure job, when we are dealing with such economic ills. The "good life" can still be achieved around a work schedule.

Not always. I'm an early-retiree from the public sector, where I worked for 32 years. We were told that at the end of the last contract, the lifetime health benefits for qualifying member/spouse (25 years service), which we had given significant concessions to obtain, would be eliminated, and we would also be paying a higher percentage of our salaries for health benefits, and there would be no raise for several years. Based on this, I made the decision to retire under that contract to keep the benefits, since at the moment, the monthly charge for benefits is just under $1500, and increases every year.

Considering the fact that if I had stayed, I was looking at a salary decrease due to the increase in payments for benefits, and significant expenses for health benefits down the road, leaving was a no-brainer. We're leaving for Florida in approximately three weeks, and our expenses there will be significantly lower (no state income tax, real estate taxes a quarter of what we pay now on a property 1/10 the size of the Florida piece).

[Wingfoot]

Originally Posted by dreamer1

Hello. It's been awhile since I have posted. I thought it would be a good idea to start a new thread and find out if anyone out there has the same type of plan as my wife and I. (early semi retirement) We are both 40 and have young children. But, we have a plan which calls for buying a nice home in a golf community in about 8 years and perhaps moving there by about 53 yrs old.(there are many nice communities in the Winter haven/Leesburg area as Faithful Frank can attest to) Many people I talk to think we are crazy for planning this because the thought in today's world is that you have to work until you're 70. We are saving so that we don't need to do this. I would still work part time to help keep busy. I don't want to retire at an old age when I can enjoy the beautiful Florida weather and play golf three times a week. My inlaws are currently in a CRF community in Winterhaven and feel like kids again because they are having so much fun.

So, let's see how many others are as optimistic as me.

Thanks, Dreamer1

Americans are always optomistic,taught that all their lives.
That far out though is very iffy, the dollar is unlikely to be a worth much by then.

[Retiredcoach]

Originally Posted by KathyA11

Not always. I'm an early-retiree from the public sector, where I worked for 32 years. We were told that at the end of the last contract, the lifetime health benefits for qualifying member/spouse (25 years service), which we had given significant concessions to obtain, would be eliminated, and we would also be paying a higher percentage of our salaries for health benefits, and there would be no raise for several years. Based on this, I made the decision to retire under that contract to keep the benefits, since at the moment, the monthly charge for benefits is just under $1500, and increases every year.

Considering the fact that if I had stayed, I was looking at a salary decrease due to the increase in payments for benefits, and significant expenses for health benefits down the road, leaving was a no-brainer. We're leaving for Florida in approximately three weeks, and our expenses there will be significantly lower (no state income tax, real estate taxes a quarter of what we pay now on a property 1/10 the size of the Florida piece).

Kathy,

Being in public sector myself for over 30 years, I can understand your rationale. That "rumor" has been circulated in my profession for the past two contracts. We had an exodus of higher salaried individuals retire for exactly that reason, not because they wanted to, but because of the fear. Do you know the outcome? The health care benefits were not touched for either contract, and our employers eliminated a lot of salary by spreading that fear. In the public sector, a domino effect is in place.... once the health benefits are cut at one level, they are cut all the way to the top (including those negotiating for the sector). It could happen, but it probably will not....

Good luck!

[Guntersville Boomer]

I had dreamed of retiring in Florida where I have lived my entire life. We bought a golf course/pool home, brand new in Kissimmee in 1998 for $200k. Our daughter was 13 and I had taken a good paying job. We were there a year and job wasn't working out so we moved to Tallahassee, she graduated from high school in 2004 and went to college in Birmingham, Al. and my husband and I moved back to Kissimmee to the retirement house. After being there several years we realized we didn't want to be 10 hour drive from our daughter (who has since graduated college and has settled in Birmingham, says she is never coming back to Fl)so we changed our plans and bought next retirement house in Alabama near Birmingham. I guess the moral to my story is sometimes things just don't end up like you plan and that's OK. On the issue of buying a retirement home here, be careful. We bought in 1998 and sold in summer of 2008 for $242k. When you deduct the improvements we made (silestone counter tops, wood floors, jacuzzi out by pool) and the real estate commission, we were lucky to walk away at break even. And I looked the house up on the 2009 tax rolls and the market valure they are showing now is $159k, over $40k below the 1998 value.