Early Retirement

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Indy
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Early Retirement

Post by 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.

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Superbone
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Early Retirement

Post by Superbone »

Indy wrote:
Fri Oct 14, 2022 1:47 pm
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.
"Be Legendary."

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Indy
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Early Retirement

Post by 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.

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Nodack
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Early Retirement

Post by 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.

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Superbone
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Early Retirement

Post by Superbone »

Nodack wrote:
Sat Oct 15, 2022 10:06 am
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.
"Be Legendary."

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Superbone
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Early Retirement

Post by 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.
"Be Legendary."

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Nodack
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Early Retirement

Post by 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.

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Indy
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Early Retirement

Post by 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.

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Nodack
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Early Retirement

Post by Nodack »

That makes all the difference.

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Superbone
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Re: Early Retirement

Post by 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.
"Be Legendary."

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Nodack
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Re: Early Retirement

Post by Nodack »

Time for you.

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Indy
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Re: Early Retirement

Post by 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.

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Superbone
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Re: Early Retirement

Post by Superbone »

Indy wrote:
Mon Oct 17, 2022 8:40 am
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.
"Be Legendary."

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Superbone
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Re: Early Retirement

Post by 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.
"Be Legendary."

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Superbone
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Re: Early Retirement

Post by Superbone »

It is official folks! I dropped off all my equipment yesterday and said my goodbyes. I am officially retired!!!
"Be Legendary."

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Split T
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Re: Early Retirement

Post by Split T »

Congrats! That’s still a long ways out for me haha

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AmareIsGod
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Re: Early Retirement

Post by AmareIsGod »

Give all the specifics to you. Current amount you've saved for retirement, your age, how you've allocated your retirement, your expenses, your dreams and goals in retirement. Ask it how to achieve it over the next 'x' years by 'x date' at 'x age'. Then follow up the response with more variables or inputs for refinement. I pay for GPT4 which is more in depth and robust responses. But even the free 3.5 isn't bad so you can get a taste.

https://chat.openai.com/
What is smallball? I play basketball. I'm not a regular big man. I can switch from the center to the guards. The game is evolving. I'd be dominAyton if the WNBA would let me in. - Ayton

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AmareIsGod
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Re: Early Retirement

Post by AmareIsGod »

I'm 16 years away from 55. I am starting a new job that I negotiated the offer (and they accepted my counter immediately). Very excited as they are global and it's my first stint in a management role. Half of the team is in Buenos Aires and we have 3 projects in the works this year alone which will require 3 to 4 trips (Buenos Aires and a few of our US locations). I plan to ride out my career where I'm going. Just applied for the first time for my passport with that Argentine travel need.
What is smallball? I play basketball. I'm not a regular big man. I can switch from the center to the guards. The game is evolving. I'd be dominAyton if the WNBA would let me in. - Ayton

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AmareIsGod
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Re: Early Retirement

Post by AmareIsGod »

Superbone wrote:
Sat Apr 29, 2023 7:41 am
It is official folks! I dropped off all my equipment yesterday and said my goodbyes. I am officially retired!!!
Did you have to eat much retirement loss with the economy? My dad retired 13 years ago and had lost about 300k of his retirement. But it was the best decision, absolutely, for him.
What is smallball? I play basketball. I'm not a regular big man. I can switch from the center to the guards. The game is evolving. I'd be dominAyton if the WNBA would let me in. - Ayton

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Superbone
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Re: Early Retirement

Post by Superbone »

AmareIsGod wrote:
Sat Apr 29, 2023 8:50 am
Superbone wrote:
Sat Apr 29, 2023 7:41 am
It is official folks! I dropped off all my equipment yesterday and said my goodbyes. I am officially retired!!!
Did you have to eat much retirement loss with the economy? My dad retired 13 years ago and had lost about 300k of his retirement. But it was the best decision, absolutely, for him.
You don't lose until you sell. I haven't sold a thing. I have enough cash for the rest of the year at least. And then more taxable investments I can sell after that if I need to. When I do tap into my 401k, it will be out of my stable funds portion which is currently in a CD ladder making guaranteed income until the stock market has recovered at which point I'll sell some stocks and rebalance my stock/bond percentage.
"Be Legendary."

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