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Old 06-23-2018, 07:22 AM
 
231 posts, read 131,373 times
Reputation: 642

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ds61761,

Thanks for posting that video about SlowMo. Pacific Beach is right down the road a hundred miles in Sandy Eggo. I did not want to "waste" 15 minutes watching it, but I am glad I did. Very insightful. He shares his watershed moment ("Do what you want to"), and how long he waited to follow the advice. Seeing how happy he is, and listening to his reasoned, articulate, and very well-educated explanations of why he is doing what he is doing and the results was enlightening.

It was a well-spent 15 minutes. Way better than watching half of some re-run on TV.
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Old 06-23-2018, 02:59 PM
 
Location: RVA
2,164 posts, read 1,265,106 times
Reputation: 4451
Well, not TOO much difficulty “doing what you want” when you owned a mansion, Ferrari, & are very wealthy, in SoCal! His medical condition was also a catalyst. Who amongst us wouldn’t call it quits and enjoy whatever in those circumstances. Wonder what he’s doing now?
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Old 06-24-2018, 05:43 AM
 
Location: Central CT, sometimes NH.
3,472 posts, read 5,143,862 times
Reputation: 3531
Quote:
Originally Posted by Person in Charge View Post
Oh believe me, I've been saving like mad for over a decade. I'm aiming to escape the soul sucking rat race at 50 at the latest. I have no family, so that helps.

I'm also researching other countries with a low COL to retire to once I finally decide to throw in the towel. I've done a lot of travelling abroad and would be fine living somewhere outside of the U.S.
You don't have to leave the country to make it happen. There are many places, decent ones, where you can find a studio or 1 bedroom condo for under $50,000. We found one for a family member and the condo fee includes heat, hot water, electricity, cable, pool, fitness center and parking for under $500 a month. If you own it outright that is cheap living. Bus and train service are nearby and there are many interesting places within walking distance. Depending on the cost of your healthcare plan, you could easily live on $1500 to $2500 a month. The healthcare cost is the biggest obstacle for many people. This issue will have to be addressed soon as it is unsustainable and IMHO needs to be a national plan like most other prosperous countries.

BTW, you can leave the rat race without having to stop working. If you live a low-cost lifestyle like above you could take a less stressful job that has some benefits and gives you more flexibility to enjoy what you like.
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Old 06-24-2018, 05:51 AM
 
Location: Central CT, sometimes NH.
3,472 posts, read 5,143,862 times
Reputation: 3531
Quote:
Originally Posted by Perryinva View Post
Well, not TOO much difficulty “doing what you want” when you owned a mansion, Ferrari, & are very wealthy, in SoCal! His medical condition was also a catalyst. Who amongst us wouldn’t call it quits and enjoy whatever in those circumstances. Wonder what he’s doing now?
He lives in a studio and skates. This could be replicated in numerous places throughout the US without having to have millions of dollars in the bank. He's 69 now and certainly eligible for Medicare. The trouble is that most people still want to continue living the same lifestyle, i.e. monthly expenditure, once they retire. If that means $100,000 expenses a year that is going to be unrealistic for most people unless they have a couple of million dollars in addition to their pension/SS. So they continue their pursuit toward "security."

What I liked about this video is that he showed how he made a radical transformation to the basics, a place to live and a passion that occupies much of his day and connects him to nature and people. I'm sure he eats modestly and probably enjoys listening to music and reading. These activities could be universally enjoyed in many places and probably at considerably less expense than coastal California.
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Old 06-24-2018, 06:56 AM
 
Location: RVA
2,164 posts, read 1,265,106 times
Reputation: 4451
The fact that he lives in a studio apartment and skates all day and that can be accomplished elsewhere and cheaper is not the point. No one would argue that his decision is not oddly unique. Most general discussions about quitting due to burn out and displeasure do not start with “by any measure I am very very wealthy and invested well and own a mansion with tennis court and Ferraris and BMWs. I really want to retire but don’t know if I can”. It is the same but an extreme version of the question post as the “will my $6k pension in 10 years & no SS be enough”. Money decisions are not even a remote factor for him. (Assuming he still has it all). What he discovered is that in this stage of his life, this is all he needs and WANTS, and it just so happens to be very low cost. He can make that decision to do it with ZERO consideration as to what he will do when he cannot, either due to health or advanced age, or what bis care may require if he lives to 100 and has no recall. He apparently has no spouse, so care for them is also not a consideration. The vast majority of people DO have to consider those what ifs. If I was experiencing a condition such as his, I too would punt everything, and “do what I want”, but it would be something that would still allow DW to continue in comfort.

That was my only point. I am not debating his happiness or decision to do a 180 from high powered DR to boardwalk skating oddball. I applaud that he took the path to happiness. Many would lament and a andon hope at working so hard for so much only to find they may not possibly be able to enjoy it. I also wish it were that easy for ANYONE to make the decision to just “be happy”. That is my pursuit as well, same as many here. It is much harder for some to find happiness than kthers, and money is likely NOT the answer. But they hope it is because that’s what they can throw at it.
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Old 06-24-2018, 07:20 AM
 
Location: Colorado Springs
4,833 posts, read 4,947,484 times
Reputation: 17302
You can check out of an over stressful job at any time.

But the one factor that enslaves most of us is our broken sick care system. If you lack health insurance you risk losing everything.

Most of us are chained to that hamster wheel until 65.
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Old 06-24-2018, 09:21 AM
 
1,137 posts, read 569,507 times
Reputation: 4370
Quote:
Originally Posted by ds61761 View Post
I've been having similar feelings lately and have found this video about "Slomo" to be quite inspirational:

... "Slomo" video

Yes, thank you (and others) for posting/re-posting this. I was surprised to see so many comments focused on his wealth. That (to me) completely misses the message that I got out of this video which is simply do what you want. He found a way; I found a way, and am now completely out of the rat race, very happily doing what I want. This message isn't new, but only really started to resonate loudly within me over the last couple of years. Once it became louder than my self-imposed strife, I could see a change was in order.
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Old 06-24-2018, 12:10 PM
 
Location: SC
8,791 posts, read 5,651,894 times
Reputation: 12805
I loved my career when it started, and although I did not hate it at the end, I did see it as largely pointless. As a software engineer, I was not saving lives or making anything any better for anyone... I was just maximizing corporate profits and setting up systems that helped managers screw over employees a little more every day. What a joy.

Four months short of the end date for the last contract I worked, I walked into the manager's office and told him I was struggling to care. That the only reason I had to stick around was that the folks in the office were pretty cool. He told me to let him know when I really felt I was done and we'd close out the contract.

Originally, I wanted to go another 3 years contracting, but the thought of finding another contract and moving again to a new town - especially since it was becoming harder to get a decent lease that didn't screw over the tenants - and the fact that I'd reached a net worth figure that I thought could do better than sustain it's principle convinced me to pull the trigger.

For the last three/four (I can't tell) years, I have been living well below what I thought it would cost and that has pretty much become my new lifestyle, and my principle has climbed well above where I thought I would need it to be. I think - barring economic collapse in this country - that this Christmas will mark the last year of living VERY cautiously.

I think OP, that you have to look at where your life is, what parts of it you can live without, what you do or don't NEED to feel satisfied, and then decided if what you do have (and a percentage cushion) can outweigh the drudgery of having to work.
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Old 06-24-2018, 06:54 PM
 
Location: Cebu, Philippines
4,375 posts, read 1,663,688 times
Reputation: 7972
Sounds like a great opportunity to learn how little you can really live on. Something worth knowing in lean times.
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Old 06-24-2018, 07:35 PM
 
7,199 posts, read 8,630,480 times
Reputation: 9056
It's important for everyone to really understand what their yearly expenses are on an average basis for all the basics and some extras (housing, utilities, food, transportation, etc). Keeping track of monthly expenditures over a period of time really helps one to get this dialed in. There are online tools that happen to make this easy (like Mint or Personal Capital or even fidelity), but for those who are queasy about using online tools, lots of people use spreadsheets to keep track. I like and use Mint and have for the last 7 years. Adding in anticipated expenses for medical is necessary. I know my yearly expected expense number (in today's dollars) with a good confidence level. With that number in hand I'm able to calculate, assuming inflation of 2.5% to 3%, what will be needed each year to meet expenses and also include some "what if" amounts for medical/dental.

Once you know your yearly expense number then it's easy to determine when you've amassed enough of a nest egg to be FI (financially independent) and upon reaching FI you can stop working if you desire or at least walk away from the corporate rat race and go do something part time or whatever would be more enjoyable.
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