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Old 05-28-2015, 10:44 AM
 
26,591 posts, read 52,334,622 times
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Twelve of my friends went right from High School to community college to earn administration of justice two year degrees and then into law enforcement... by age 50-51 all but one had retired and all had over a 100k pensions... the one that was still working had become Chief of a smaller 40k population town.

My firefighter friends have done equally as well...

This was a huge change from when my Uncle was a police officer and died in the line of duty back in 1964... a 10k life insurance he shared with the Department was it.

Even in the 1970's the law enforcement parents of friends had to work second jobs to make ends meet until they made rank... it was common to night cashier at the grocery store or do private security...

Now the county Sheriff retired at 80 or maybe older.. I guess it all depends on where you are in the organization.
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Old 05-28-2015, 10:56 AM
 
9,893 posts, read 3,280,645 times
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Quote:
Originally Posted by mysticaltyger View Post
Agreed. But it's plainly obvious that most Americans are not doing that, by and large. I'm not going to get into the politics of it because I don't want to derail the thread. But suffice it to say the health care companies wouldn't make so much darn money if more people lived healthier lifestyles. My focus is on what people can control, not on what they can't. And people have more control than they will admit (over their money and their health).
The thing is people are not nearly as bright as they like to think.

I see dumb people everywhere and I am not even that smart, I can only image what the world looks like to the gifted. To be frank I am not completely sure it is reasonable to place blame at the feet of those exposed to a lifetime of brain altered media and poor education.
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Old 05-28-2015, 11:44 AM
 
906 posts, read 651,676 times
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Quote:
Originally Posted by rruff View Post
I "retired" for 13 years when I was 30. My original intent was to take a short break of a couple years, but I liked it so much and spent so little money I kept at it.

Had $100k saved up, put it into CDs and lived on less than the interest. Built a camper for my pickup, and sold everything that I didn't need. Camped on BLM land mostly and moved with the seasons.

I needed food and gas and simple maintenance. That's about all I spent money on. The benefits were priceless.
So you lived on less then 6k a year? $500 a month?

Quote:
Originally Posted by Girldawg1 View Post
I retired in my early 40s. I was from a regular-joe middle class family. I had a degree, but always had quite low-paying jobs yet was always able to save money. There are so many variables for everybody. Basically I led a pretty frugal life, but never was uncomfortable nor did without anything. Frugal doesn't mean austerity. As much as is possible, eliminate the debt. If home and vehicle are paid for, one nearly has it made. Have a balance of wants vs. needs: Very little is actually needed, and that includes the type and size of the home. Society creates the whole illusion of lifestyles and goods to give the impression they can't be lived without. That path is easy to fall into
Quote:
Originally Posted by makes no sense at all View Post
i retired when I was 34 but it was so boring I went back to work 2 years later
Make sense and one of the best post to this thread.. People fall into the trap. It is easy to retire early. But people need to know when you retire you retire from the rat race and the 9-5 , some people still work somewhat when they are retired part time easy good paying jobs
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Old 05-28-2015, 01:46 PM
 
26,136 posts, read 28,529,259 times
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Quote:
Originally Posted by Ultrarunner View Post
Money isn't everything... at least so it would seem.

After you buy the new trucks and take a trip around the world... then what?

In my case... it is simply a good feeling to know if lost my job today... it wouldn't affect my lifestyle one bit... and no... I don't have a pension or anything that continues after separation...
I agree with this. Money isn't everything, for sure. But it definitely helps. It really makes me feel better to know that if I lost my job tomorrow, I have options...I don't have to snap at the first job I can find. I can't yet maintain my current lifestyle without working...but I could most to a lower cost area and get by without a job for quite some time. Or I could semi-retire and work part time while drawing down my portfolio. Not what I would want at this point, but it's a better position than most people are in my age (mid 40s).
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Old 05-28-2015, 01:58 PM
 
26,136 posts, read 28,529,259 times
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Quote:
Originally Posted by evilcart View Post
The thing is people are not nearly as bright as they like to think.

I see dumb people everywhere and I am not even that smart, I can only image what the world looks like to the gifted. To be frank I am not completely sure it is reasonable to place blame at the feet of those exposed to a lifetime of brain altered media and poor education.
So, basically what you're saying, whether you realize it or not, is that we're too dumb for a democratic form of government. If that is the case, we will end up with a dictatorship and that is where we are headed.

Personally, I don't believe we're too dumb. I think we're too lazy and weak willed (at least at the moment), but laziness and weak will can be overcome. It's kind of like being an alcoholic achieving sobriety....you have to want it and you have to be vigilant about maintaining sobriety once you get it. America currently doesn't want sobriety and we are losing our democracy precisely because we haven't been vigilant about maintaining it.
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Old 05-28-2015, 02:16 PM
 
Location: Tennessee
23,614 posts, read 17,598,460 times
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Quote:
Originally Posted by texdav View Post
That's common with police and some fire fighters because really we do not want a bunch of older cops on streets. Its really like soldiers in combat to a degree. The risk is too high for taxpayers. Its called double dipping and is common in many professions where they can get jobs from past experience in demand. Airlines do same with military pilots.
In a lot of areas though, these double dippers place an unfortunate burden on taxpayers. If you have a state employee who gets a pension then works for the municipality and gets another pension, the people in that municipality effectively pay twice for that person.
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Old 05-28-2015, 02:39 PM
 
Location: Pennsylvania
12,545 posts, read 4,242,077 times
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Quote:
Originally Posted by Jkgourmet View Post
Please, provide proof of that statement. I think it's baloney.
Are you insane?

Odds and probabilities.

Of course those who eat right and exercise have a better probability of good health, than those who don't.
It's ridiculous to believe otherwise.
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Old 05-28-2015, 05:49 PM
 
Location: Las Vegas
13,890 posts, read 25,340,170 times
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I did it. It takes 2 good full time jobs and maybe a bit more on the side. For years, we invested one income and lived on the other. Honestly, trying to do it with one wage earner would be pretty unlikely. And if 1/2 of the couple is disabled and does not work, needs a lot of health care, it would be very unlikely.

Everyone's situation is different. And quite a bit of it depends on how much you are willing to give up today to retire early tomorrow.
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Old 05-28-2015, 06:30 PM
 
12,708 posts, read 9,984,291 times
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Quote:
Originally Posted by evilcart View Post
Until healthcare is fixed and made available at a reasonable fee , the majority of people will NOT being able to retire very early no matter how much they save.

All it takes is one curable cancer or heart attack to wipe out years of savings and derail long term plans.
Why? Just sign up for decent health insurance and be willing and ready to flee the country if premiums get too high.
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Old 05-31-2015, 11:03 AM
 
Location: Woodbury, MN
1,465 posts, read 1,535,293 times
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Quote:
Originally Posted by Newenglander0000 View Post
Our neighbor told us his goal is to retire at 45 and that he is on target to do that. I asked how and he said he invests in the stock market, puts most of his paycheck in retirement, and has minimal debt.

I'm disabled but my hubby works. We don't own a home and have basically no debt. Is this something that is practical? We cannot afford to give more to retirement than we do already (I think my dh gives like 5% of his paycheck or something). Is this a possibility or a dream?

It sounds like more of a dream to me, maybe a "pipe dream".

Saving 5% is way too little. If you start saving in your 20's, you should be saving 10%, some people say 15%. if you start saving in your 40's, then you may need to save 40% to 50% to catch up to where you need to retire, at a normal retirement age. If you've saved very little during the first 20 years of your working years, then you probably can't retire early. The option of early retirement might already be gone for you.

The last few years of a working career could drastically impact the total amount of money saved for retirement, if you are extreme savers. In our case, we want to work a few more years, even though we could technically afford to retire today. If our jobs ended suddenly, no worries, we would simply choose to retire. There's a huge burden that is removed when you know you will never need to find another job again. No more interviews or any of that hassle.

There's also some risk in working longer. We could be giving up the best retirement years so we can save more money for retirement, that we might not end up needing.

There are two sides to the social security issue. I've heard if you don't need the social security money to eat and live, then it may be better to take social security earlier and invest the money. I've calculated the break even at about age 72 to 73 if you take social security at age 65 or wait until age 70. If you die before age 70, then you've lost all that money too.
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