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Old 11-14-2009, 11:13 PM
 
975 posts, read 1,543,370 times
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Quote:
Originally Posted by iamnoteddie View Post
My desire was to retire before i died.lol.
I've got bad news for you. Retirement = death. And only unhappy people retire.

Hopefully you'll just migrate from doing something you don't really care for into something you truely love.
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Old 11-15-2009, 06:56 AM
 
139 posts, read 495,422 times
Reputation: 182
Quote:
Originally Posted by Traderx View Post
I've got bad news for you. Retirement = death. And only unhappy people retire.

Hopefully you'll just migrate from doing something you don't really care for into something you truely love.
Actually it's about math traderx.When i retire i will receive $100 less a week than working.So i could continue to work for $20 a day-$10 a day in gas and tolls.So i will lose $2,600 a year in income.I will save $7,000 a year in tuition for my sons education.I will be able to rent my primary home for $1,500 a month or sell it when it's at $400,000.So i'm certain that continuing to work for $10 a day and not saving 7g a year,and not receiving 18g a year in rental income would make me really unhappy.I like my job but not when it will cost me $22,400 a year.Everyone who would pay that money to go to work,...raise your hands.I thought so.
Now figure in that i can volunteer to coach my sons sports teams.When he's off for the summer,so am i.When he gets off for 2 week stretches during the winter we can go camping,kayaking,snorkeling in the florida keys and do disneyworld,or whatever we want.This part of the equation is priceless to me.
So i don't plan on dying because i retire.I plan on living longer and being happier with the freedom my hard earned pension will afford me.
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Old 11-15-2009, 11:32 AM
 
12,671 posts, read 20,493,570 times
Reputation: 2618
The whole of retiring financially is freedom. That does not mean stop working.
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Old 11-15-2009, 11:40 AM
 
3,553 posts, read 6,786,557 times
Reputation: 2304
iamnotteddie makes some excellent points. We're retired now (I'm 61, she's 65) and she retired 11 years ago, I retired 8 years ago. We NEVER owned a new car before we retired (paid cash for a new Lexus) and "may" buy another new car this coming week. The reason that we might go new this time is just like the last time, newer model costs within 1,500 of a year old one, and the newer one gets better mileage and is slightly larger.

We had rental property the whole time we were working and almost (90%+) EVERY TENANT who ever rented from us had a newer car (with payments), bigger, fancier TV and nicer stereo etc. Many of them earned more than we did.

We once rented (and later sold) our primary residence to a younger (than us) couple who said upon filling out the loan application that they would "love to be able to buy a house someday". Both of them worked (as did we at that time) and they earned within 2% of what we did.

Most of the "newer" cars that we ever bought were a year old, sometimes less, and the seller had to borrow money from family or take a cash advance to get the title released to sell to us. Seriously upside down! The 4 month old model that I'm considering now has its owner in the same spot.

A true story about a car that we bought 7 or 8 years ago, the guy was $2,500 upside down after we had agreed on the price. He said he had a credit card that he could get a cash advance on for the difference. He showed me the card but it was through the FINANCE ARM of the brand he was selling. I pointed out that because the finance company had the car as a bit of security that if he tried to do that the company would "call" the loan upon the sale. He thought about it for a few seconds and then said; "OK, I guess I'll have to make the cash advance for $5,000 then"!!!

After I stared at him for 30 seconds or so it dawned on him and he called his Dad for the cash. That car was 4 3 1/2 months old and had slightly less than 2,000 miles on it.

gg
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Old 11-15-2009, 11:45 AM
 
975 posts, read 1,543,370 times
Reputation: 523
Quote:
Originally Posted by iamnoteddie View Post
Actually it's about math traderx.When i retire i will receive $100 less a week than working.So i could continue to work for $20 a day-$10 a day in gas and tolls.So i will lose $2,600 a year in income.I will save $7,000 a year in tuition for my sons education.I will be able to rent my primary home for $1,500 a month or sell it when it's at $400,000.So i'm certain that continuing to work for $10 a day and not saving 7g a year,and not receiving 18g a year in rental income would make me really unhappy.I like my job but not when it will cost me $22,400 a year.Everyone who would pay that money to go to work,...raise your hands.I thought so.
Now figure in that i can volunteer to coach my sons sports teams.When he's off for the summer,so am i.When he gets off for 2 week stretches during the winter we can go camping,kayaking,snorkeling in the florida keys and do disneyworld,or whatever we want.This part of the equation is priceless to me.
So i don't plan on dying because i retire.I plan on living longer and being happier with the freedom my hard earned pension will afford me.

I understand the math. All I'm saying is that one needs to be challenged and productive to feel alive and well. Coaching sounds cool, the other stuff will be great at first no doubt. That still leaves a lot of time in between. You'll probably want to fill that with something other than goofing off, thats all.
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Old 11-15-2009, 04:16 PM
 
Location: Planet Eaarth
8,957 posts, read 17,005,188 times
Reputation: 7193
Quote:
Originally Posted by Traderx View Post
I've got bad news for you. Retirement = death. And only unhappy people retire.

Hopefully you'll just migrate from doing something you don't really care for into something you truely love.
"Retirement = death."????? All I can say is that there are people who never ever want to Retire. That's ok for them but some of us enjoy not working anymore.
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Old 11-15-2009, 04:20 PM
 
Location: Planet Eaarth
8,957 posts, read 17,005,188 times
Reputation: 7193
Quote:
Originally Posted by Texas User View Post
The whole of retiring financially is freedom. That does not mean stop working.
To be fair to you I think it might be helpful for you to define how you view the word "working". Not everybody thinks of "working" in the same way.........

OOP's! My bad. I see you've done that already.........
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Old 11-15-2009, 04:48 PM
 
12,671 posts, read 20,493,570 times
Reputation: 2618
Quote:
Originally Posted by Tightwad View Post
"Retirement = death."????? All I can say is that there are people who never ever want to Retire. That's ok for them but some of us enjoy not working anymore.
The whole of retirement financially is to do whatever you want and that does not mean to stop working.

Lot of people want to retire early so they can work and that does not mean bringing income from that job.
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Old 11-15-2009, 04:49 PM
 
12,671 posts, read 20,493,570 times
Reputation: 2618
Quote:
Originally Posted by Tightwad View Post
To be fair to you I think it might be helpful for you to define how you view the word "working". Not everybody thinks of "working" in the same way.........

OOP's! My bad. I see you've done that already.........
Working for money or for pure hobby?
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Old 11-15-2009, 04:54 PM
 
Location: Planet Eaarth
8,957 posts, read 17,005,188 times
Reputation: 7193
Quote:
Originally Posted by Tightwad View Post
To be fair to you I think it might be helpful for you to define how you view the word "working". Not everybody thinks of "working" in the same way.........
Quote:
Originally Posted by Texas User View Post
Working for money or for pure hobby?
Either way. You tell us how you see it so we can comment in context.
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