Early Retirement

[Indy]

[Moved from politics folder with the political portion edited out]

I still have 9 years until I am 55.5, but I am trying to figure out a way to retire at 53.5.

[Superbone]

I still have 9 years until I am 55.5, but I am trying to figure out a way to retire at 53.5.

If you can swing it, do it! Just figure out how you're going to spend your time. It's sure better than the alternative of working until you drop! I saw a great quote yesterday about not just wanting to live the full length of your life but also the full width.

[Indy]

Yeah I want to volunteer or even work, I guess, at a non-profit. The specific one will depend on where we end up living. But I want it to be a role where I can take a month off and go to south east Asia or Africa or I guess even Maine.

[Nodack]

I just got back from Maine last week. Was on a cruise. Retiring can be alright I guess. For too many people retiring means a boring life of sitting on the couch and getting fat.

[Superbone]

I just got back from Maine last week. Was on a cruise. Retiring can be alright I guess. For too many people retiring means a boring life of sitting on the couch and getting fat.

If that's your idea of retiring, yeah, you'll just die early. Me? I'm going to travel the world and meet new people. I've never been on a real cruise. I'll do some of those. I'm going to rekindle my music passion but only playing gigs that I want to play. I'm going to produce that jazz trombone album I've always been inspired to make. I'm going to study poker and see how much I can improve my game and who knows, maybe even make some money. I'm crossing the World Series of Poker main event off my bucket list next year. I've already started my health journey and I'm going to leave my current job in better shape than I started it in 23 years ago. I've never been more muscular. I'm down to a weight I haven't been at in 30+ years. Health will be a priority in retirement. I have all sorts of plans and none of them involve sitting on the couch and getting fat. The number one thing is to stay curious. I can't wait.

[Superbone]

Retirement is an outdated name when people are able to live possibly another 30 plus years after leaving their jobs. Retirement is a relatively new thing in the history of the world. When it was first introduced, people didn't live that much longer after they entered retirement. I prefer to call it "second life". Indy above has the right idea on how to spend that time.

[Nodack]

You guys definitely have the right idea and mindset. I guess mine isn’t that much different. I plan on playing gigs and entertaining people until I can no longer physically do it anymore. At that point I hope some natural cause gets me in my sleep before I go through the can’t see, can’t hear, can’t walk, can’t think, frail, in and out of the hospital stage.

[Indy]

Yeah, if I was self-employed at a small to tiny company, I would do the same.

I really enjoy what I do for work, but the stress can get crazy depending on your employees and your boss. Fortunately the bosses I have had over the last decade or so have been great, and the vast majority of my employees, too.

[Nodack]

That makes all the difference.

[Superbone]

I like everything about my job and I’m being paid more than ever. Great boss, great co-workers (like family we’ve been working together so long), great environment. No complaints. However, enough money is enough and I have other ways I’d prefer to use my time.

[Nodack]

Time for you.

[Indy]

I will say that the global pandemic hasn't really helped my plans on retiring early. I think my portfolio has dropped 5-600k this year alone.

[Superbone]

I will say that the global pandemic hasn't really helped my plans on retiring early. I think my portfolio has dropped 5-600k this year alone.

You have to be prepared for that at any point in your retirement. Whether it's year one or any other year. I won't be touching my equities until they recover for example. As you get closer to retirement, you should have less in stocks and more in bonds as well as a bigger cash cushion. You're getting a good deal on all current stock purchases.

[Superbone]

Speaking of bonds, it has been a rare year where both stock and bonds are down. I moved my bonds into CDs with a guaranteed return as it's a known correlation that bond values go down in a rising interest rate environment.