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Old 12-12-2016, 10:33 AM
 
Location: Prescott AZ
6,119 posts, read 9,071,114 times
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But, what about boredom??????
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Old 12-12-2016, 10:37 AM
 
1,040 posts, read 484,284 times
Reputation: 1435
Quote:
Originally Posted by PhxBarb View Post
But, what about boredom??????
I'm in NYC ...I have many interests and will never be bored!
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Old 12-12-2016, 10:40 AM
 
1,040 posts, read 484,284 times
Reputation: 1435
Quote:
Originally Posted by NewbieHere View Post
I have a relative who had 5-6 million in USD back in 1988 and he has no where near it now, may $1 million max. We all think we are better than average, I'm sure.
I'm finding on this thread that people are just protecting their own fears to an extent...

Everyone's situation is unique....but i can say with confidence that if your relatives net worth is down 83% he/she either spent like crazy and/or made horrendous investment choices...sorry....
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Old 12-12-2016, 10:44 AM
 
Location: Northern IL
241 posts, read 226,686 times
Reputation: 481
Quote:
Originally Posted by edshaw4947927 View Post
Not to butt in, but why would you be thinking of retiring at 50?
That's very early. You are most fortunate to have worked it
out to be able to live in The City ion the prime of life. There
must have been sacrifices.
My opinion, you are asking the wrong questions, entertaining
the wrong options. For most of us, retirement is the dead end,
the end of the line. No, get a grip, get a new outlook, and
take the retirement option off the table. As a matter of fact,
advisors suggest never calling yourself retired on your
resumes or correspondence. That's because most active people
consider retirees useless. And, they are right.
Not sure if serious.........................

Agree 50 is young, but if one can afford it, great. I get being tired of the corporate gring.

Retirement is tow fold IMHO.

One is money. The 4% thing can work, but the younger you are the more risk it contains. We are retiring this upcoming year at 60/65 and think it will work fine. Ton of opinions on this and how much is enough can be a vary personal decision after you get the base established. We figure the market is our employer and will cut back when it's "salary" is lower.

The other part and maybe bigger is what are you going to do with the rest of your life? Some folks are defined by their careers. I get that but we are not. We have a ton of hobbies and hope to acquire more. Want to also do some RV'ing as well. The key is to stay curious. We think that is the key to a fun and interesting life.

YMMV
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Old 12-12-2016, 11:27 AM
 
1,040 posts, read 484,284 times
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Quote:
Originally Posted by jack_pine View Post
Not sure if serious.........................

Agree 50 is young, but if one can afford it, great. I get being tired of the corporate gring.

Retirement is tow fold IMHO.

One is money. The 4% thing can work, but the younger you are the more risk it contains. We are retiring this upcoming year at 60/65 and think it will work fine. Ton of opinions on this and how much is enough can be a vary personal decision after you get the base established. We figure the market is our employer and will cut back when it's "salary" is lower.

The other part and maybe bigger is what are you going to do with the rest of your life? Some folks are defined by their careers. I get that but we are not. We have a ton of hobbies and hope to acquire more. Want to also do some RV'ing as well. The key is to stay curious. We think that is the key to a fun and interesting life.

YMMV
I agree Jack...I wouldn't call myself a minimalist, but I live a pretty simple life...I don't need or want a lot...
as far as what to do I'm actually very excited about that...I plan to do more volunteer work for a couple of animal rights organizations, do projects for NY Cares that have various programs to help kids and the elderly, take a class at Hunter college, meditation workshops, read a ton more, etc
Looking forward to the next chapter of my life....
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Old 12-12-2016, 11:32 AM
 
Location: Okinawa, Japan
254 posts, read 574,928 times
Reputation: 355
If you want to retire right now I recommend you look for a place overseas. The medical expenses are a huge factor to put into account, and you want to live in a country with affordable and accessible medicine. The USA is simply too expensive to live in, even in the cheaper areas these days when you factor in everything.
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Old 12-12-2016, 11:36 AM
 
1,040 posts, read 484,284 times
Reputation: 1435
Quote:
Originally Posted by paleo99 View Post
If you want to retire right now I recommend you look for a place overseas. The medical expenses are a huge factor to put into account, and you want to live in a country with affordable and accessible medicine. The USA is simply too expensive to live in, even in the cheaper areas these days when you factor in everything.
Good grief lol
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Old 12-12-2016, 12:01 PM
 
Location: SoCal
13,200 posts, read 6,308,074 times
Reputation: 9815
Quote:
Originally Posted by FREE866 View Post
I'm finding on this thread that people are just protecting their own fears to an extent...

Everyone's situation is unique....but i can say with confidence that if your relatives net worth is down 83% he/she either spent like crazy and/or made horrendous investment choices...sorry....
I'm saying, he was smart enough to make that kind of money from scratch. But he also lost it all back to by not knowing when to fold it. He thought he was above average.
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Old 12-12-2016, 12:36 PM
 
Location: Proxima Centauri
4,802 posts, read 1,980,636 times
Reputation: 5233
Quote:
Originally Posted by FREE866 View Post
I think my working days might be over, but wanted to throw this out there

I have more than 300x my monthly expenses and over 25x my yearly expenses in investments

FIRECALC retirement calculator has me at a 98% success rate and the Fidelity calculator has me with money left over assuming "below average" market returns

any thoughts?

thank you
Take those investments and go conservative. Right now with interest rates about to rise, I would stay away from LTerm bonds. Go with Ginnie Mae funds, money market funds, some money in sterm bonds and some in the stock market. See a financial advisor for advice as to proportions and types of securities.
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Old 12-12-2016, 01:23 PM
 
1,040 posts, read 484,284 times
Reputation: 1435
Quote:
Originally Posted by Tonyafd View Post
Take those investments and go conservative. Right now with interest rates about to rise, I would stay away from LTerm bonds. Go with Ginnie Mae funds, money market funds, some money in sterm bonds and some in the stock market. See a financial advisor for advice as to proportions and types of securities.
This is arguably the worst piece of advice so far
lol
but thank you for sharing!
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