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Old 04-22-2014, 09:46 AM
 
Location: Miraflores
786 posts, read 894,992 times
Reputation: 1531

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Quote:
Originally Posted by TuborgP View Post
My daughter in law got her CPA at 22 and companies have been paying her boatloads of money to manage their millions since. She is only one of many 20 something's who have been leading the nations finances. Would you sooner listen to a Wharton MBA graduate or a anonymous forum buddy in their fifties.
I vote for neither, although if she was pretty, I might let her do my taxes. My bad, I have not had to file in many years.
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Old 04-22-2014, 09:55 AM
 
Location: Central Massachusetts
4,800 posts, read 4,850,322 times
Reputation: 6379
Quote:
Originally Posted by alpineprince View Post
I vote for neither, although if she was pretty, I might let her do my taxes. My bad, I have not had to file in many years.
What no tax laws in Gringo Gulch? Does the place provide for the common defense?
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Old 04-22-2014, 11:23 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,608 posts, read 39,974,527 times
Reputation: 23749
My 1st and most complete and rewarding retirement was leaving the Dairy farm (and home) at age 16. Life is always so simple and restful after that experience! (My parents HATED kids, thank goodness for Grandparents!)

2nd retirement was age 35 (I went on night shift cuz I desired to be @ home, homeschooling my kids) Working nights was a gravy train, no bosses, no interruptions, freedom of choice / schedule, and MUCH more money! (and no stink'n day-shift cry-babies!!!!!

3rd retirement was age 49 (kids were away to college and I took yet another Golden Parachute that included 2 yrs free college (It's much more fun than work!)

All previous retirements were very special and excellent 'breaks' from a dog's life!

The next retirement? ... Tomorrow would be fine! I have several more homes to build and other such projects to fill my days.

I will be very glad if I am able to retire at least a few more times!

My motto... Retire Early, Retire Often! It really is such a great feeling it would be so sad to only have it happen ONCE in life...

At any of my previous retirement dates I could have got by without being gainfully employed. For now, employment is a way to pay for HC for an ill spouse and to get paid to live overseas. But... I could easily decide today to 'retire' again...

It is about attitude & priorities. (money helps, but is not essential... MANY folks have NONE! (or very little), including my grandparents who cared very well for me)

We will never be financially wealthy, and that is of no concern.

Health and freedom are wonderful!
Enjoy today! Retire early, Retire often!

Last edited by StealthRabbit; 04-22-2014 at 11:34 AM..
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Old 04-22-2014, 01:31 PM
 
Location: Miraflores
786 posts, read 894,992 times
Reputation: 1531
Quote:
Originally Posted by golfingduo View Post
What no tax laws in Gringo Gulch? Does the place provide for the common defense?
Here, you just pay what you think the Guvmint is worth. Common defense is provided by a KMS
(Klingon Mind Shield)
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Old 04-22-2014, 01:52 PM
 
26,115 posts, read 28,514,332 times
Reputation: 24822
Quote:
Originally Posted by golfingduo View Post
Listening to her talk about what she sees as a trend where younger people (under 40) want to retire earlier at age 55 and older those of us over age 50 are now looking at retiring later and working longer. It makes me chuckle thinking that 30 somethings want to retire early but have no concept of what it means to leave the work force and what resources will be needed at that age.
Since a lot of people get booted out of good paying employment in their 50s, I think it makes a lot of sense to plan for retirement or semi-retirement at age 55 or younger. The key word here is plan. It can't just be a wish or a dream. Typically, retiring in one's mid 50s means you'll need a savings rate of about 28%, which would include the employer match if you get one (Assumption: You start working full time at 25 with 0 saved and quit at 55). And that savings will need to be mostly invested in stock funds, although a somewhat more conservative balanced fund with a mix of stocks & bonds will probably work ok, too.


The Shockingly Simple Math Behind Early Retirement | Mr. Money Mustache
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Old 04-22-2014, 01:57 PM
 
26,115 posts, read 28,514,332 times
Reputation: 24822
Quote:
Originally Posted by MrRational View Post
If you have a nice air conditioned office job that pays well... why retire?
The short answer: Because if you can afford to, there are probably more valuable things you can do with your time than working for money.
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Old 04-22-2014, 03:14 PM
 
Location: The Triad (NC)
28,502 posts, read 62,199,370 times
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Quote:
Originally Posted by mysticaltyger View Post
The short answer: Because if you can afford to, there are probably more valuable things you can do with your time than working for money.
cite the whole statement... context counts.
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Old 04-22-2014, 06:56 PM
 
Location: Central Massachusetts
4,800 posts, read 4,850,322 times
Reputation: 6379
Quote:
Originally Posted by mysticaltyger View Post
Since a lot of people get booted out of good paying employment in their 50s, I think it makes a lot of sense to plan for retirement or semi-retirement at age 55 or younger. The key word here is plan. It can't just be a wish or a dream. Typically, retiring in one's mid 50s means you'll need a savings rate of about 28%, which would include the employer match if you get one (Assumption: You start working full time at 25 with 0 saved and quit at 55). And that savings will need to be mostly invested in stock funds, although a somewhat more conservative balanced fund with a mix of stocks & bonds will probably work ok, too.


The Shockingly Simple Math Behind Early Retirement | Mr. Money Mustache

Excellent point. I don't expect to find the same level of employment if I lose my employment Sept 2015.

I will not need it since I am now 56 and will be 58 if that happens. I have made my plans and will have pensions available to me. I also have other resources so I count myself lucky and smart marrying DW. It is true that behind every successful man is a very brilliant woman.
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Old 04-22-2014, 07:07 PM
 
29,782 posts, read 34,876,173 times
Reputation: 11705
Quote:
Originally Posted by golfingduo View Post
Excellent point. I don't expect to find the same level of employment if I lose my employment Sept 2015.

I will not need it since I am now 56 and will be 58 if that happens. I have made my plans and will have pensions available to me. I also have other resources so I count myself lucky and smart marrying DW. It is true that behind every successful man is a very brilliant woman.
You are reaching key trigger points for you and the wife. As they kick in each one makes your retirement more secure. By age 66, you will be fairly set with a few more to look forward to.
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Old 04-22-2014, 07:13 PM
 
Location: East of Seattle since 1992, originally from SF Bay Area
29,815 posts, read 54,486,657 times
Reputation: 31124
I always thought that retirement was wasted on the old, we should all retire at 40 and then go back to work at 60.

I could have retired at 55 with over 30 years in with 65% of my salary until SS then adding that probably close to 75%. Things happen, though. We decided to relocate mainly due to the 3 kids and schools but also because we found an area in another state that we loved. Now I love where I am, and what I do, but will have to work to 68 in order to get a decent pension along with maximum SS. Unless things change drastically, it won't be a problem, since I like my work and workplace, and still have plenty of time for hobbies, and PTO for nice vacations.
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