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re: Anyone retire early early?
Posted on 5/11/24 at 11:25 pm to DaBeerz
Posted on 5/11/24 at 11:25 pm to DaBeerz
quote:
I spent most of my 20’s in “retirement”after college graduation. Traveled the country/world, partied too much, would work some or go back to school for a while. Got a masters degree. Finally settled down around 30, got married and my 3rd degree. I figured I ought to have fun in my prime rather than wait til I’m old, blew through a lot of dough. But No regrets, I’d be too bored retired now. I only work 3 days a week now though so it’s good balance
Did someone else finance this lifestyle? Not many people have that option to just float around post college.
This post was edited on 5/11/24 at 11:26 pm
1
Posted on 5/12/24 at 6:18 am to PerceivedReality
quote:
Money is great and all but that’s all he ever really cared about.
If he cared about his kids he could have been a fantastic father. What a wasted opportunity, most people are work-a-holics and justify it by saying they are just trying to provide for their families. But they never are around to be part of their kids lives growing up. What a shame.
Posted on 5/12/24 at 6:35 am to fallguy_1978
quote:
Did someone else finance this lifestyle? Not many people have that option to just float around post college.
I’m not saying many do… I was fortunate. I had scholarships for college so never used funds that were saved for me in my name. Parents also had bought condo when I was in college, so never had rent. 3rd degree was all on me, been paying back six figures loan, finally done in about 9 months. So I’m behind now because of my choices…but c’est la vie
Posted on 5/12/24 at 8:30 am to Big_Sur
quote:
The most successful people I know, multimillionaires at that age decades ago, still working in their 80s. "Retired" multiple times but it doesn't stick.
This. I hang with a lot of entrepreneurs that are much more successful than myself. Those men and women never stop working. They may build a business, sell it for 8 figures, take a year off, then go back to it. I've heard many stories of stopping and getting depressed and/or taking up substance abuse problems. Driven people can't stop. Their brains are literally wired differently. Money doesn't mean anything to them. It's all about the challenge.If you are one of those people, you will be unhappy without a goal.
I fear walking away from my business completely. I could pretty easily sell my business and sail off into the sunset in my early 40s, but I love what I do and have fun most days. I haven't accomplished what I set out to do, and I'm sure when I get to that point my goals will have gotten bigger and I'll find a reason to keep going. I know I can't do nothing. I'd be a miserable alcoholic.
Posted on 5/12/24 at 9:54 am to TheOcean
Hoping to semi retire at 45. Wife is a work-a-holic though so it'll be a battle.
Definitely won't have a problem finding something to do. Give me a computer and Internet and I can keep myself entertained forever. Plus I can get into a nice workout routine and other routines (I'm a routine guy).
Will continue to work 2-3 days a week just to cover basic expenses, hopefully cover health care, and keep my mind stimulated.
If you find yourself bored on days off and thinking you should just be working instead.. maybe retiring early isn't for you lol
Definitely won't have a problem finding something to do. Give me a computer and Internet and I can keep myself entertained forever. Plus I can get into a nice workout routine and other routines (I'm a routine guy).
Will continue to work 2-3 days a week just to cover basic expenses, hopefully cover health care, and keep my mind stimulated.
If you find yourself bored on days off and thinking you should just be working instead.. maybe retiring early isn't for you lol
Posted on 5/12/24 at 10:29 am to TheOcean
I have a friend from high school, who got involved in a start up engineering firm after he got his masters
His stocks vested and he quit at like 28 with several million and he travels and does standup in Chicago now as a job/hobby
Must be nice but also so damn boring as all your peers are obviously working still
His stocks vested and he quit at like 28 with several million and he travels and does standup in Chicago now as a job/hobby
Must be nice but also so damn boring as all your peers are obviously working still
Posted on 5/12/24 at 11:12 am to TheOcean
My grandfather retired in his mid 50s. He owned a car dealership but let his manager take over all operations, and just lived on the profits until he was 95.
Spent most of 40 years on the lake and traveling. It was a dream retirement that’s always been my goal… at least to do 30 years of that.
Spent most of 40 years on the lake and traveling. It was a dream retirement that’s always been my goal… at least to do 30 years of that.
Posted on 5/12/24 at 1:21 pm to TejasHorn
My grandfather retired at 59 with a full pension and lived another 40 years. He told me he made more in retirement than when he was working 
Unfortunately that type of setup no longer exists for most of us.
Unfortunately that type of setup no longer exists for most of us.
Posted on 5/12/24 at 1:31 pm to Lawyered
quote:
Must be nice but also so damn boring as all your peers are obviously working still
I'd 100% rather be bored than working.
Posted on 5/12/24 at 5:22 pm to fallguy_1978
I turned 59.5 this week. Thinking about it more all the time.
Posted on 5/12/24 at 5:35 pm to kywildcatfanone
I probably won't be ready by then. I front loaded a lot of major stuff in life, and didn't save enough money when I was younger.
We'll be empty nesters in my 40s though, and live pretty modestly realitive to income now, so we've been able to put away a good bit in recent years.
We'll be empty nesters in my 40s though, and live pretty modestly realitive to income now, so we've been able to put away a good bit in recent years.
Posted on 5/12/24 at 6:02 pm to Lawyered
quote:
so damn boring
quote:
several million and he travels and does standup in Chicago now as a job/hobby
That doesn't sound boring at all
Posted on 5/12/24 at 7:43 pm to TheOcean
I retired early 5 years ago. My wife retired super early 10 years before me. We love every minute of it. She was working herself way too hard with her successful business while my corporate job was super stressful for a long time with lots of free overtime and zero appreciation by my bosses. I felt like I got out of prison when I retired. Now we live in a nice small (but not too small) rural town in a nice home and lake lot. We do whatever we want to do and buy whatever we want. I make more money now on crypto and related investments than I ever made in my engineering job.
The best part of retirement is spending a lot of time with our friends and family, donating, charity work and helping others. Just hanging out by our fire pit with friends, doing a little fishing, gardening, traveling some, basically having fun doing anything. I enjoy helping others in our community more than anything else.
The best part of retirement is spending a lot of time with our friends and family, donating, charity work and helping others. Just hanging out by our fire pit with friends, doing a little fishing, gardening, traveling some, basically having fun doing anything. I enjoy helping others in our community more than anything else.
This post was edited on 5/12/24 at 8:36 pm
Posted on 5/13/24 at 2:12 am to Fat Bastard
quote:
healthcare costs
Definitely a concern. I plan on retiring next year at 50. My wife is from the EU and so we're going to live in a few countries for a few years. We're travelholics. Her healthcare will be covered and private healthcare for me there isn't too bad at all. There's a decent chance we'll stay long enough for me to get dual citizenship and then I'll have coverage there as well.
DINKS but I really didn't start saving until about 12 years ago. Thankfully I got into a career where I could stack money quickly, saved a boatload, and bought properties in a place that does ok even in a downturn (HI).
I don't see traveling all over the world, living in new countries, immersing in their culture, and making new friends as boring. We'll play golf, learn new languages, and many other fun things. Of course, that's a lot easier for us without kids. I'll visit my family in the states but we'll also visit my wifes and be much closer. And of course, if I get bored I'll look into something small or do some consulting.
If OP has enough $ to last and a lot to keep him busy, why not retire should be the question.
Posted on 5/13/24 at 7:42 am to Sho Nuff
Healthcare is not really a concern if you plan well enough in advance. We can cry all day about how obamacare fricking up healthcare, but it's been a boon for early retirees.
Set yourself up correctly income wise and you can get a gold plan covering your whole family for a few hundred a month.
Set yourself up correctly income wise and you can get a gold plan covering your whole family for a few hundred a month.
Posted on 5/13/24 at 10:44 am to JohnnyKilroy
quote:
you can get a gold plan covering your whole family for a few hundred a month.
Got a link to that few hundred a month gold plan? When I looked at Gold plans for me & the wife it was $1500 and up a month.
Posted on 5/13/24 at 11:16 am to weadjust
How good the ACA is entirely depends on your state, your income limits, and which facilities in your area accept the plan. I'd quit my job today and go part-time if those plans were worth a shite in my area. They do work for a lot of people but you have to do your homework.
Posted on 5/13/24 at 11:21 am to weadjust
You need to “game” your income to get a subsidized plan.
You would have to plan it out in advance to show less AGI.
There are several threads on the FIRE subreddits where people explain how they set up their post retirement income to be at a level where they get a subsidized obamacare plan.
You would have to plan it out in advance to show less AGI.
There are several threads on the FIRE subreddits where people explain how they set up their post retirement income to be at a level where they get a subsidized obamacare plan.
Posted on 5/13/24 at 2:40 pm to Lawyered
quote:
Must be nice but also so damn boring as all your peers are obviously working still
Lol.. I guess it would get boring to keep hearing people tell me theyre jealous of me…. Frick my ‘peers’.. if you are retired in your 40s, you literally wouldnt have many peers , b/c not many people can do that.. Actually id probably come up with some cover story so people wouldn’t ask so many questions, like just tell people im a day trader or something .. maybe id actually *do* some day trading, come to think of it .
Posted on 5/13/24 at 3:35 pm to BK Lounge
yup. just tell them you a a pro trader or gambler, etc.
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