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Old 12-08-2011, 05:44 PM
 
5,730 posts, read 10,103,441 times
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Quote:
Originally Posted by Lakewooder View Post
You could go into an 'extreme savings' mode - you can find info on this on the net...then maybe you could quit earlier. You can only do so much of that, I've found. I'm ok so long as I get a couple of nice trips per year and a few splurges which include going to a really nice restaurant.

What I did was max 401K and Roth plus buy rental properties on 5 to 7 year notes. Killer, but now I'm done and can quit when I'm ready. I am in the 'a couple more years' mode to build up for extras but that appears to be a trap according to people on early retirement blogs...
How so?
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Old 12-08-2011, 06:22 PM
 
16,087 posts, read 41,073,314 times
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A couple more years here and a couple more years there and you might be dead.

IOW when "enough" is always a year or two more you just have to pick a point and stop.
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Old 12-08-2011, 06:43 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,655 posts, read 57,732,068 times
Reputation: 46100
Quote:
Originally Posted by Prairieparson View Post
I'm the opposite. I can't figure out what I would do with myself if I retired. .. I'm planning some job, probably part time, that's not too demanding to make some income for quite a while. Haven't got it quite figured out yet, but I will once I get there.
Don't worry about finding stuff that suits the likes / abilities of a past prairie parson. Here are a few things I, or my prairie loving friends do;
  • Harvest help (I keep CDL current and can grab a few odd trucking jobs when I get cabin fever (Christmas mail / FedEx runs are plentiful))
  • Deliver autoparts (PT)
  • Welding / Machine repair for farmers / locals (not as demanding as having a BUSINESS of same)
  • Courier (running trips to town for parts / groceries / Dr Appt for elderly or disabled) Some state programs fund this activity pretty well (especially well for us 'grease-burners')
  • Fix-it-man
  • Grocery / delivery boy for lumber yard, parts store, grocery
  • Reading to school kids (many don't have parents that will do this, especially their dads)
  • Senior care Center driver / worker / volunteer (consider getting adept at ventriloquist, good for kids AND seniors)
  • Community food security advocate (another well funded grant activity that REALLY can improve rural health / access to food / food education
  • Satellite / cable installer
  • Mail delivery (contract work)
  • news reporter
  • Community health advocate / evaluator
  • Senior service referral reference ...



Quote:
Originally Posted by Lakewooder View Post
... IOW when "enough" is always a year or two more...
THIS ^^^ can be a problem for us 'dreamers'... Oh, if I just work enough longer to get a better car, house, more $$ to travel, a new dress...

Need to be diligent, or have a plan B (sell the old dress before buying another, your taste seems to change anyway if you wait to BUY)

You really NEED to be able to "STOP_THE_BLEEDING" b4 you can retire (in peace).

Seems it >>($$$)<<; all goes OUT once the income stops.
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Old 12-09-2011, 01:14 AM
 
16,433 posts, read 22,145,662 times
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Quote:
Originally Posted by Lakewooder View Post
A couple more years here and a couple more years there and you might be dead.

IOW when "enough" is always a year or two more you just have to pick a point and stop.
True dat.
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Old 12-09-2011, 09:13 AM
 
Location: Western Colorado
12,858 posts, read 16,814,411 times
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Quote:
Originally Posted by Prairieparson View Post
I'm the opposite. I can't figure out what I would do with myself if I retired. I would get bored doing nothing, or nothing that contributes to the upkeep of society and good of my fellow human being. Just fishing or golf or traveling would get pretty boring fast. I get bored with this stuff now, so I sure don't want it full time. I'm planning some job, probably part time, that's not too demanding to make some income for quite a while. Haven't got it quite figured out yet, but I will once I get there.
Bored? I'm busier now that I was when I was working, plus no supervisor is looking over my shoulder watching everything I do. Contributes to the upkeep of society? I did that for 35 years, it's someone else's turn now, I'm gonna sit on the bleachers and watch.

I have a friend who is defined by his work. He told me he wants to die in his office and will only retire at 72 when they drag him away. That is sad.
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Old 12-09-2011, 09:18 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,655 posts, read 57,732,068 times
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Quote:
Originally Posted by jim9251 View Post
...
I have a friend who is defined by his work. He told me he wants to die in his office and will only retire at 72 when they drag him away. That is sad.
and I HAD a friend who built a nice lake house BEFORE retirement, and died while cleaning his desk out AFTER his retirement luncheon. Now THAT was a bummer To die at work would be a disgrace (unless on a commercial airliner !... 2x the insurance for surviving spouse)
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Old 12-09-2011, 06:56 PM
 
24 posts, read 61,570 times
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Thank you all for your insightful information. This is very interesting. Here are my answers to some of your questions and suggestions. I do have a few plans to handle what I have/need and I do have certain hobbies that I enjoy. I have been tracking my budget since the 90's. I even plugged them in for the next 10 years and created many what-if scenarios well into the year 2040 and 2050 (if I live that long). Financially, I should be OK when I do retire whether I do it in 8 years or in 10 years. I will have about $1,100/month less if I do retire in 8 years instead of 10 years. I paid off my house 5 years ago. All my children were done with colleges and paid for with my own money (no loan, no credit card debt). Currently, I only need one of my paychecks to cover my monthly expenses. If I can keep it that way, my retirement income should cover it. Like I said before, I love to travel. That's where I need to save my money for. Anyway, that's also a reason I want to retire...

About a retirement countdown clock, I indeed created one for me too (see the 8 and the 10 years countdown below).

Countdown to retirement: 10 years 3 months 16 days left
Countdown to retirement: 8 years 3 months 18 days left

What do you think? Cool, isn't it?
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Old 12-10-2011, 08:55 AM
 
5,544 posts, read 8,287,183 times
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I feel somewhat similar. Basically I am just done with work as I currently know it. We already know that there will be personnel cuts this year or the next and if it were me I wouldn't weep. I am as prepared financially as I can be in this economy, but each year working is a year I have the finances to get one year $ healthier.

I do enjoy being a mentor and coach to the young folks coming along in their career. And I don't mind those friday afternoon work efforts that come in and must be done. Mostly I am just bored and physically tired.

Now, when I leave the workforce I will try to do something different and enjoy that. Just the enjoyment has gone out of my work.
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Old 12-10-2011, 09:19 AM
 
5,544 posts, read 8,287,183 times
Reputation: 11141
And I am a bit the off at home but the opposite from work. My home has become too much for me physically to take care of well and I am having to hire everything out.

So it gets back to I am ready to retire but it is not quite the time. But coming soon.

And there is a difference between the 'dream' of retirement and 'planning'. So if you are dreaming about it, perhaps it is better to put steps in place a little at a time until you are ready. If you are merely bored with your work, find something that brings enthusiasm to your worklife. Or get into your hobbies. That is where I failed (hobbies and out of work friendships). So that is what I am trying to build right now.
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Old 12-10-2011, 11:23 AM
 
Location: Maine at last
399 posts, read 852,685 times
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Quote:
Originally Posted by theoldnorthstate View Post
And I am a bit the off at home but the opposite from work. My home has become too much for me physically to take care of well and I am having to hire everything out.

So it gets back to I am ready to retire but it is not quite the time. But coming soon.

And there is a difference between the 'dream' of retirement and 'planning'. So if you are dreaming about it, perhaps it is better to put steps in place a little at a time until you are ready. If you are merely bored with your work, find something that brings enthusiasm to your worklife. Or get into your hobbies. That is where I failed (hobbies and out of work friendships). So that is what I am trying to build right now.

I also have the same problem. Our house has become a little too much to care for. It is a young person's property. There is a lot to do and the kids are not really interested in helping much anymore. So we are in the process of planning our retirement. We are cleaning, throwing away, painting and fixing. We are both in our late 50's but have the means and the healthcare to go. The house will go on the market hopefully next year and although it will not bring as much as it would have 4 or so years ago, you have to roll with the times and accept the fact that you might not get all that you want but something is better than nothing. It's time to retire. The new generations are coming and I would rather watch it all from the front porch. maybe a little travel as well. I am basically a simple person and don't need a lot to be happy. I like to take each day for what it is. Tired of the corporate rules and the younger bosses that know it all and want to get ahead. They are nice people and I wish them well but not for me anymore.
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