Author Topic: Early Retirement  (Read 15719 times)

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Offline tdaver

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Re: Early Retirement
« Reply #100 on: January 23, 2021, 11:35:55 PM »
Trying to make a list of things I'd like to do when I've achieved sufficient financial independence.

1. I want to spend several weeks in Washington DC museums.

2. I want to thru hike the Continental Divide Trail.

3. I want to be a spectator at each of the tennis grand slam events. Like, the whole damn two week tournament.

4. I want to do lots of skiing.

5. I want a home with an outstanding view so that I have something good to look at every day while I'm sitting around and waiting to die.

You can do 4 and 5 right now if willing/able to move

Offline Pete

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Re: Early Retirement
« Reply #101 on: January 24, 2021, 01:10:16 PM »
My only goal is to get my kids through college.  They are a sophomore in HS and a 7th grader right now.  I am hoping my current industry/profession/career lasts that long.  I'll keep saving for my retirement while putting them through school, if my job can hold out that long.  Once they are done with college and off into the world, I'll sit back and see what life throws at them, and if they need me for something then I'll just do that.  Like, if I need to go be their nanny, then I'll just move to them and do that.  I have zero other plans or goals, other than to not be a burden for my kids. 

Offline steve dave

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Re: Early Retirement
« Reply #102 on: January 24, 2021, 01:49:13 PM »
Yeah, kids really are a wild card in all retirement planning and goal setting. That’s why I just assume and save for the worst and hopefully it’s not needed.

I also have an ass load of life insurance for the same reason.


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Offline catastrophe

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Re: Early Retirement
« Reply #103 on: January 24, 2021, 02:04:51 PM »
The other amazing benefit of early retirement: if things go sideways and unexpected expenses come up or something, pushing back your retirement date by a couple years will dramatically grow your nest egg while not feeling like you’re wasting your silver/golden years.

Offline catastrophe

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Early Retirement
« Reply #104 on: January 24, 2021, 02:06:25 PM »
I do need to double down with some term life insurance though (work already provides some for free). Are there any gold standard providers out there I should just trust?

Offline steve dave

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Re: Early Retirement
« Reply #105 on: January 24, 2021, 02:31:55 PM »
I do need to double down with some term life insurance though (work already provides some for free). Are there any gold standard providers out there I should just trust?

they are basically the same.  I have it through Mutual of Omaha but a broker got me quotes from like 10 places. the guy was really selling me on the fact that mine doesn't exclude suicide after the first year. which was a big wtf moment in our conversation.

Offline steve dave

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Re: Early Retirement
« Reply #106 on: January 24, 2021, 02:35:30 PM »
also I have three different policies for the wife and I on top of our employer provided plans which we max. 30, 20, 10 year terms.

Offline Pete

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Re: Early Retirement
« Reply #107 on: January 24, 2021, 02:36:49 PM »
The suicide coverage actually is nice. If I get Alzheimer’s, my plan would be to wack myself. Might also wack myself if I got one of the terrible terminally downward spiraling ones like ALS.

Offline michigancat

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Re: Early Retirement
« Reply #108 on: January 24, 2021, 02:51:20 PM »
Parent of a friend with terminal cancer who had an assisted suicide. If you've seen someone slowly die of cancer, you probably understand.

Offline Pete

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Re: Early Retirement
« Reply #109 on: January 24, 2021, 02:56:35 PM »
Parent of a friend with terminal cancer who had an assisted suicide. If you've seen someone slowly die of cancer, you probably understand.

Yep.

Offline TheHamburglar

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Re: Early Retirement
« Reply #110 on: January 24, 2021, 02:57:31 PM »
I’ve slowly been wearing Mrs. Hamburg down to understand that I’m completely serious that if I get a nasty terminal illness or degenerative disease I’m moving to an assisted suicide state.

I semi-joke with all my family that if I say I’m going to visit the Grand Canyon that I’m not coming back.
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Offline catastrophe

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Re: Early Retirement
« Reply #111 on: January 24, 2021, 03:19:28 PM »
I do need to double down with some term life insurance though (work already provides some for free). Are there any gold standard providers out there I should just trust?

they are basically the same.  I have it through Mutual of Omaha but a broker got me quotes from like 10 places. the guy was really selling me on the fact that mine doesn't exclude suicide after the first year. which was a big wtf moment in our conversation.
Other suicide-y comments aside, I could imagine having some comfort knowing that if you died in some sudden injury the insurance company wouldn’t hassle your family calling it self inflicted.

Offline steve dave

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Re: Early Retirement
« Reply #112 on: January 24, 2021, 03:31:30 PM »
Yeah, that’s a good point


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Offline sys

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Re: Early Retirement
« Reply #113 on: January 24, 2021, 03:43:36 PM »
the guy was really selling me on the fact that mine doesn't exclude suicide after the first year. which was a big wtf moment in our conversation.

lol.
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Offline tdaver

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Re: Early Retirement
« Reply #114 on: January 24, 2021, 07:31:48 PM »
I do need to double down with some term life insurance though (work already provides some for free). Are there any gold standard providers out there I should just trust?

I used PolicyGenius recently.  Compares rates from all the majors.  Super easy.

Offline DaBigTrain

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Re: Early Retirement
« Reply #115 on: January 24, 2021, 07:40:47 PM »
I plan on retiring early
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Offline star seed 7

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Re: Early Retirement
« Reply #116 on: January 24, 2021, 07:48:14 PM »
Retirement is for suckers. Live in the now and try not to be alive when you're old

4.5 years later and I'm starting to wonder if I'm dying fast enough. I might be forced to think about this retirement scam
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Offline KITNfury

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Re: Early Retirement
« Reply #117 on: January 24, 2021, 09:52:24 PM »
As someone who is ambitiously lazy, I highly recommend retiring early if you're like me. My dad otoh can't sit still and although he's technically retired, he's always doing something. I worry he'll wither away quickly once he's less mobile. No way he lives through TV reruns and whatnot.
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Offline Pete

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Re: Early Retirement
« Reply #118 on: January 25, 2021, 11:51:47 AM »
Yes, being able to be very lazy and happy (e.g. happily take a nap every day) is a definite advantage in retirement planning.  You don't need as much money, and greater likelihood that you'll enjoy yourself in retirement.  I already know what most days will look like.  A morning meeting with my spiritual pursuit of choice, some coffee / lunch, maybe mow the lawn or some such for a bit, nap, piddle away at some type of dinner, read my book or binge a show, go to bed. Repeat.

Offline star seed 7

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Re: Early Retirement
« Reply #119 on: January 25, 2021, 11:56:34 AM »
I don't love working or anything, but it's literally the only thing in my life that provides any structure at all. I've seen how dark it got when I was laid off for a year (not at all even related to money). Retirement scares me, I'll probably work until I die.
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Offline Pete

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Re: Early Retirement
« Reply #120 on: January 25, 2021, 11:57:49 AM »
I don't love working or anything, but it's literally the only thing in my life that provides any structure at all. I've seen how dark it got when I was laid off for a year (not at all even related to money). Retirement scares me, I'll probably work until I die.

I used to feel the same way, but I do not any more.

Offline Pete

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Re: Early Retirement
« Reply #121 on: January 25, 2021, 12:02:49 PM »
About 6 - 9 years ago (a period of time between those years) I was in a super duper super dark place.  Like, as dark as it gets.  I am very happy to report that for the last almost-6-years it is not that way for me. One of many paradoxes for me has been that the better my mental/spiritual condition has gotten, the less I worry about existential stuff and give less of a eff about "death" and crap....yet, when I was most miserable and wanting to just die (and perhaps by my own hand), I actually was super afraid of death and stuff.

To sum up, I currently give zero fucks (in terms of worry) about retirement.  Like, it doesn't even bother me at all in the slightest.  I set the amount that I need to set aside in my savings, do that, and say eff it. I will sometimes day dream about maybe buying a lake house or something, but it's not this urgent need to accumulate things or FOMO. It's just some happy thing to say "sure, maybe someday something neat like that might work out." 

Offline yoga-like_abana

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Re: Early Retirement
« Reply #122 on: January 25, 2021, 12:07:35 PM »
About 6 - 9 years ago (a period of time between those years) I was in a super duper super dark place.  Like, as dark as it gets.  I am very happy to report that for the last almost-6-years it is not that way for me. One of many paradoxes for me has been that the better my mental/spiritual condition has gotten, the less I worry about existential stuff and give less of a eff about "death" and crap....yet, when I was most miserable and wanting to just die (and perhaps by my own hand), I actually was super afraid of death and stuff.

To sum up, I currently give zero fucks (in terms of worry) about retirement.  Like, it doesn't even bother me at all in the slightest.  I set the amount that I need to set aside in my savings, do that, and say eff it. I will sometimes day dream about maybe buying a lake house or something, but it's not this urgent need to accumulate things or FOMO. It's just some happy thing to say "sure, maybe someday something neat like that might work out."
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Offline Pete

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Re: Early Retirement
« Reply #123 on: January 25, 2021, 12:13:31 PM »
Thanks, brother.  I think the lesson here is that if someone is super freaked out about retirement, or lack of savings, or not having as much as the next guy or whatever, just remember that you don't have to feel that way.  There are healthy ways of addressing that.  Also, it will almost never be as bad as you think, and most of us change our minds about crap all the time, so who the eff knows what you'll be in the mood to do when you are old balls.  eff it, it will be OK.

Offline Pete

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Re: Early Retirement
« Reply #124 on: January 25, 2021, 12:15:45 PM »
If you would have asked 25 or 30 year old me, what I would have thought I needed to be happy in retirement, it would have looked WAY rough ridin' different than it looks now.  Like, night and day.  I would have listed cars and golf club memberships and travel and yada yada yada.  LOL.

I was a rough ridin' dumbass.