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shootingstar

Thinking maybe abit too much-retirement

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Maybe this happens..when turning 60 for some people. 

Until this year, I really didn't think much about retirement.  Now I dream about  whatever year that would be and during which season of the year I would do it..vs. how much more I could earn.  Spring seems like a good time ...rebirth, cherry blossom time, better weather to spend more time on bike, etc.

Also my purchasing patterns have changed a lot in past few years...just less interest in buying business clothing. I only buy now to replace immediately what is falling apart. I haven't bought any cycling clothing, except for shoes in past year ...because I have enough and cycling clothing has been so durable for me.

Or course, such thoughts become abit clearer or whatever when I chat up with a good friend who is close to my age and has taken early retirement  in the past 18 months.

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If you can afford it DO IT.

Life is short go enjoy it. 

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31 minutes ago, late said:

That desire is going to get a lot stronger.

And I am with dearie who took early retirement over 15 years ago. Living with someone and seeing how he has used his time in an enjoyable and fulfilling way is helpful.  He truly cut ties with his employer and doesn't socialize with anyone from his former workplace.  (But then, he never had a work related buddy for much ...maybe 1-2 he saw every few months.)  

It never bothered me when I was working full-time and he was solo bike touring across the continent or overseas.  He deserved to spend his time happily.

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We are almost at that magic number where your drawdown at 4% can sustain your spending.  Healthcare will be expensive, but I am budgeting for it.  We have a decent plan for retirees medical care.  

It seems like we are getting dividends constantly.  We are just reinvesting that cash now, but in about 3 years, 11 months we plan to start to begin to spend it.

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8 minutes ago, Dirtyhip said:

We are almost at that magic number where your drawdown at 4% can sustain your spending.  Healthcare will be expensive, but I am budgeting for it.  We have a decent plan for retirees medical care.  

It seems like we are getting dividends constantly.  We are just reinvesting that cash now, but in about 3 years, 11 months we plan to start to begin to spend it.

You must have done well with Amazon.

The financial planning can be abit complicated.  Weird as it may seem, I worry about outliving finances. Seriously. I look at the cost of muffin 20 yrs. ago vs. now.  Or the cost of toilet tissue now vs. even 5 yrs. ago. I was chuffed the other day to pay nearly $8.00 for toilet tissue whereas 2 yrs. ago it was $6.00.

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18 minutes ago, Dirtyhip said:

It is happening to me at 51. 

Not at that age for me.  I had accepted a job offer and relocated to another province. Totally different set of priorities since I was unemployed for over a yr.

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The idea of retirement first hit me at 62. Then WoJSTL retired 3 years ago.  I almost retired 2 years ago but got a job offer that was too good to pass up. I've set a date of June 2020 when I turn 66. I've also stopped buying work clothing. We've paid off all our loans and have remodeled the house. 

My current contract ends in October so I might retire earlier if they try to cut my pay too much. 

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9 minutes ago, shootingstar said:

You must have done well with Amazon.

The financial planning can be abit complicated.  Weird as it may seem, I worry about outliving finances. Seriously. I look at the cost of muffin 20 yrs. ago vs. now.  Or the cost of toilet tissue now vs. even 5 yrs. ago. I was chuffed the other day to pay nearly $8.00 for toilet tissue whereas 2 yrs. ago it was $6.00.

I don't think that our investments were that impressive.  I've made a few investing mistakes.  Our growth has been modest, but steady.  The thing we have done is prepared by saving and controlling spending in regards to lifestyle.  I am our financial planner.  My husband is very hands off with it.  He tells me to deal with everything there.  I have done tons of reading about how to spend down your different accounts.  Each has it's own impact. Some taxable, some untaxed. Luckily, we have plenty in taxable trading.  We will be spending that for years before we touch any of our untaxed funds.  

We figure that we need to go early, because I am not sure what my quality of life will be like if I wait too long.  I want to enjoy my body while it still works well.  

It is easy to max out your retirement benefits, when you are not spending on things like childcare, multiple vehicles, and big fancy homes.  We also are frugal when it comes to travel. We travel a lot, but it is just dragging our camper around to semi close places.  There is so much to see, just in Oregon.  We are not above spending the night in a Walmart parking lot, if it suited us for a night.  

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6 minutes ago, Dirtyhip said:

 We figure that we need to go early, because I am not sure what my quality of life will be like if I wait too long.  I want to enjoy my body while it still works well.  

It is easy to max out your retirement benefits, when you are not spending on things like childcare, multiple vehicles, and big fancy homes.  We also are frugal when it comes to travel. We travel a lot, but it is just dragging our camper around to semi close places.  There is so much to see, just in Oregon.  We are not above spending the night in a Walmart parking lot, if it suited us for a night.  

For you DH, you are planning happily with your own mortality in mind. That is good.

I'm with someone who is 76. So for me, it's also balancing between earning/investing as hard as I can now while also spend more good time with dearie when his health (and who knows my health) is still good. Unlike you, we don't even have a car. Dearie gave up his driver's license ….just 2 wks. ago.  However that doesn't bother me....because life is still the same...car-free for me...even if he had never entered into my life 25+ yrs. ago. 

I am fascinated to see how other people furnish their homes. Our living taste/design is pretty basic compared to many people. 

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I took early retirement just before I hit fifty and I've never regretted it. I had attended a six-weekly conference of Heads of Residential Schools where he Chair read out this long list of apologies. About nine or ten of these were as a result of death, serious heart attacks, and strokes which caused total disability and this scared the bejasus out of me. I couldn't wait to retire and took the first opportunity.

Actuaries calculate that Headteachers who work until their official retirement date to retire, have an average life-span of six months following retirement.

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57 minutes ago, Dirtyhip said:

There is so much to see, just in Oregon.  We are not above spending the night in a Walmart parking lot, if it suited us for a night.  

This sounds like us. We use a app called Allstays to find boondock friendly places to stay. With  Allstays app we can find rv friendly truck stops where we can dump the tanks, buy propane and park over night. 

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I am in that quandry stage.  My initial time to go was three months from now, but I pushed it back to 6 years away.  And if I feel then like I feel now, 6 years (I will be 59 then) will be too soon.

My problem is my job is also my passion.  If I were to retire today, I would have to pay to do the same thing I am getting paid to do now.  It just doesn't make sense to change that at this point in my life

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Just now, Zephyr said:

My problem is my job is also my passion.  If I were to retire today, I would have to pay to do the same thing I am getting paid to do now.  It just doesn't make sense to change that at this point in my life

You are one of the forum's most interesting people.  Of course, your job is a passion.  This makes sense.

I don't have a passion for pushing papers around.  I will miss the interaction with tons of people.  I am an extrovert, so I will need outlets for that.

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I’m really not thinking if it yet at 53.  I have a really good job with good pay & bennies and am using this job to prepare for retirement.  I’m putting near max 401k and   my employer covers 100% of my medical and 50% for family so besides 401k we are paying off the house more quickly.

We are also preparing for added expenses when the dreaded MIL day of reckoning arrives so it’s an added incentive to prepare now.

 

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