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re: Would you rather retire at 55 ok-comfortable or retire at 65 very comfortable-leave estate
Posted on 2/7/19 at 12:46 pm to AUCE05
Posted on 2/7/19 at 12:46 pm to AUCE05
quote:
Retire from the grind at 55, then contract on projects until you die. Taking long breaks in between for travel, and only use my contract money for toys.
This is what I'm thinking. I work with some guys that do this and they are in their late 60's. They take a few contract jobs per year then screw off the rest of the time.
I never will understand those that I hear say they really don't want to retire early because they will be board. Fck that. I will always be able to find stuff to keep me buys and entertained, even if it has to be on the cheap.
1
Posted on 2/7/19 at 12:53 pm to rpg37
quote:
This is a misconception. Retiring early reduces stress and should prolong life assuming you're not an idiot.
Well, they say the #1 killer of old people is retirement, soooo
Posted on 2/7/19 at 12:55 pm to notiger1997
quote:
I work with some guys that do this and they are in their late 60's.
i worked with guys in their 70s doing what i do.
Posted on 2/7/19 at 1:00 pm to Fat Bastard
quote:
Retire from the grind at 55,
maybe but doubtful
My father-in-law retired at 50. Pretty impressive considering he was pretty much the only wage earner and put two kids through private schools and college back in the day. He was a damn penny pinching fool. It helped that he worked for a pretty good company with retirement discounted medical plan and some stock. He hit the peak years of his 401-k when the stock market did very well also. I doubt I will ever see returns like that.
I just envy the hell out of the older contract guys that I know who just take jobs when they feel like it. One lives up in the mountains. He loads up his camper and works a few jobs around the country, then just enjoys life 75% of the year. His company pays him a little even when he's not working just so they can keep him due to his skills.
Posted on 2/7/19 at 1:13 pm to notiger1997
that is my plan. F the stress of worrying about it. I will work making $$$$$$ half the year then vacation the other half. semi retirement! 
Posted on 2/7/19 at 1:27 pm to nolaks
quote:
what kind of shape are you in, and current age
46 and ahead of my goals. This year I am making a move that will somewhat effect my plan though. Instead of taking a promotion I am taking a lateral transfer that is truly a unique opportunity in a dream location with some amazing perks. With cost of living, etc I will be making more, but I have some purchase I will need to make (boat, snowmobile,etc). Will also be working on my private pilot license within the next 20 months or so, but from the projections I have made I will still be at my goals.
Posted on 2/7/19 at 1:32 pm to TimeOutdoors
quote:
46 and ahead of my goals
I work in oil and gas in a pretty stable job, but the future of the industry as a whole keeps me concerned.
My company has a modified pension plan that like most, takes your last four or five years of salary to determine pay-out. In my ideal situation I would like to take an overseas assignment after the kids are out of the house to earn a bunch of money and boost that pension.
Posted on 2/7/19 at 1:43 pm to baldona
quote:
I say this all the time on here, there’s retire and there is financial independence. Retire is stop working basically completely, financial independence is work because you want to.
I think we need to reframe how we think about employment and retirement. The days of pensions are over, so something like work, stop, work is probably a better option for most people.
I could probably retire now, or pretty soon, if I wanted. I work b.c I am making an amazing wage, and I don't trust the market. Furthermore, I dont' believe I will ever fully stop working, even if its just working security at concerts.
Posted on 2/7/19 at 2:44 pm to brian_wilson
55 hell, I'm planning to quit when I reach a certain number in my investments. I'll work at the Costco for benefits because there is no way in hell I can do this shite into my fifties.
Posted on 2/7/19 at 3:04 pm to FinleyStreet
What number and what shite do you speak of? Lol.
Posted on 2/7/19 at 3:46 pm to Fat Bastard
I'm hoping to hit FIRE by early 40s according to the back-of-the-envelope figure I've modeled in Excel and run through varying FIRE calculators online.
I don't have "a number" and this will depend on a lot of other factors as well [e.g., kids, wife working, etc.].
I don't have "a number" and this will depend on a lot of other factors as well [e.g., kids, wife working, etc.].
Posted on 2/7/19 at 4:04 pm to lynxcat
I'm 57.
I always thought I wanted to retire at 55. My company is in a huge growth phase right now and I'm fortunate that I have my son at my side growing the company.
My perspective on retirement has changed. I wouldn't change what my son and I are doing together for anything. Will I maybe take longer trips in the winter and fly back for meetings? Perhaps but I really don't see myself retiring for quite a while. I just love what I do and I'm at a time in my life where most peoples kids move away and I get to be involved with mine on a daily basis building something together. shite, where else would I want to be right now and what else would I want to do that's better than that?
I always thought I wanted to retire at 55. My company is in a huge growth phase right now and I'm fortunate that I have my son at my side growing the company.
My perspective on retirement has changed. I wouldn't change what my son and I are doing together for anything. Will I maybe take longer trips in the winter and fly back for meetings? Perhaps but I really don't see myself retiring for quite a while. I just love what I do and I'm at a time in my life where most peoples kids move away and I get to be involved with mine on a daily basis building something together. shite, where else would I want to be right now and what else would I want to do that's better than that?
This post was edited on 2/7/19 at 4:05 pm
Posted on 2/7/19 at 4:09 pm to Fat Bastard
I'm a professional manure handler. If I can get to 750k in my portfolio by early 40s I'm out. At a 4% return rate I will have 2M by 65 if I contribute nothing more. Not an earth shattering amount of money but enough. And as mary poppins once said "enough is as good as a feast." At that point you can find me cutting up USDA choice filets in the back of your local Costco.
Posted on 2/7/19 at 4:12 pm to FinleyStreet
quote:ain't that some shite.
I'm a professional manure handler.
quote:and where are you going to get money between 40 and 65?
At a 4% return rate I will have 2M by 65 if I contribute nothing more. Not an earth shattering amount of money but enough.
Posted on 2/7/19 at 4:17 pm to castorinho
Contract work / part time stuff. I don't need a ton of money.
Posted on 2/7/19 at 6:03 pm to LSU6262
55 and comfortable. As long as comfortable means taking a nice vacation or two every year, and enjoying my time with no concerns about money. I'm pretty frugal as it is, so I'm not talking extravagant.
Posted on 2/7/19 at 7:12 pm to The Spleen
I was forced out of my job at 60 by a mean person....he has runaway all his good help and now has a constant turnover...good for him...
Posted on 2/7/19 at 8:50 pm to LSU6262
Have talked to many retirees varying across age groups from 50 to 65. Have yet to have one say they wish they wouldn't have retired. In fact everyone said they wish they would have retired earlier
Posted on 2/7/19 at 9:55 pm to Bow08tie
quote:
Have talked to many retirees varying across age groups from 50 to 65. Have yet to have one say they wish they wouldn't have retired. In fact everyone said they wish they would have retired earlier
I know multiple people who went back to work either because they got tired of paying huge health insurance cost since they weren't 65 or because they found that the things they wanted to do with all that free time were very expensive.
Personally I wouldn't retire before 65, perhaps I might cut back to half time in my late 50s. I certainly wouldn't want to stop working before 65, as long as my health was good.
This post was edited on 2/7/19 at 9:56 pm
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