If you can't buy time, should you retire as early as possible?

[Wolf359]

Originally Posted by dareo
Why retire super early anyway? I read an article about the whole "F.I.R.E." movement, some flight attendant worked mad overtime all the time and saved up a nice chunk of money, bought some rental properties. She figured she only needs $2k a month and therefore will retire at 44. Good for her for saving and investing to create a cashflow stream to support her thrifty cost of living but why stop there? I'm sure she makes good wages and a few more years of work would make a huge difference in retirement income/safety.

If you can make good money and have good use of the money you make you can retire quite early. But if you can do both of those things why not keep going till at least 50? Many of these "FIRE" people are throwing in the towel in their 30s and 40s.


Well you never know when you're going to drop dead. Lots of people die in their 40's/50's. Things like accidents, cancers and other diseases can strike at any time. Good for them if they have a plan that they can execute and get what they want out of life.

 

[cos]

Originally Posted by Cujet
For the last 23 years, I worked a 70+ hour week. 17 years without vacation. One recent year I had only 20 days off. My job is really fun, and I'd never claim it's super hard. But time is time.


Cujet,
Why?

 

[Silk]

I've been to several funerals this year - physical health issues, mental health issues, and last week a vehicle fatality...another one coming as my neighbour has terminal cancer, any day soon. Don't spend your life feathering your nest for retirement, enjoy your life now with no regrets.

 

[Mr Nice]

dareo,

F.I.R.E. mentality is great.... unfortunately too many dumb idiots can never grasp the concept of buying only the necessities, thrift spending and investing the rest of their income.

 

[Shannow]

I know some dumb bastich who thought he was doing right by his family by paying things off, and having a sizable chunk of living expenses in an account in his wife's name such that should anything happen to him, they would be well and truly protected through probate etc.

He should have spent it on that '70s muscle car he always wanted when he turned 50 and debt free.

 

[billt460]

Originally Posted by Cujet
Originally Posted by bubbatime
Men are designed internally to need worth. If they dont build something, manage something, work at something, then internally they dont feel worthy.

I have no such troubles. There is no way I'll ever be bored. Too much cool stuff to do and see.
Originally Posted by SubieRubyRoo
men tend to let this job define them, and they inevitably put off retirement as long as possible because they are revered as "experts", and then roughly 75% of them are dead within 6 months of actual retirement, like they lost their definition to their life and they give up. Not for me.

From a realistic point of view, unless one is a coal miner, job type has only a little bearing on lifespan. Men die early, and there is no getting around that fact. The fact that a large number of men die shortly after retirement at normal age, matches normal mortality data. It would be a real stretch to say that failing to retire would have extended their lives. That simply is not born out by the data. 65 year old men drop like flies. Those arteries are clogged and cancer already has a hold.

In fact, early retirement is associated with longer life. https://www.cnbc.com/2018/03/27/how-research-shows-you-can-live-longer-if-you-retire-early.html


This ^^^^^^^^^

Going to work never made me feel "worthy". But enjoying life on vacation, and on the weekends sure did. And early retirement has nothing to do with how long someone lives or doesn't. If someone retired and dropped dead a week later, is anyone going to tell me they would have lived on, if they would have kept working? That's ridiculous.

I see door greeters at Wal-Mart who sit on a stool, because they can barely stand, let alone walk. Does anyone actually believe the only thing keeping them alive is being there? Because if they weren't they would drop dead from not feeling, "worthy"..... It's starting to get a little deep here.

Today a person retiring at age 65 has a less than 21% chance (1 in 5), of dying within 10 years.

" At 70 years old, the majority of men are expected to live another 10 years, and another quarter are expected to live to see 90."

Working isn't going to improve those odds.

https://www.finder.com/life-insurance/odds-of-dying

 

[Alfred_B]

Walmart greeters are there to avoid dog food diet, not to feel worthy. Very few employers create the feeling of worthiness among employees, and Walmart is not one of them.

 

[Cujet]

Originally Posted by billt460


Today a person retiring at age 65 has a less than 21% chance (1 in 5), of dying within 10 years.

At 70 years old, the majority of men are expected to live another 10 years, and another quarter are expected to live to see 90.


Don't forget that by age 65, 25% of men that made it to 50 are ALREADY DEAD.

Time is the whole of your capital.

 

[Wolf359]

Originally Posted by Alfred_B
Walmart greeters are there to avoid dog food diet, not to feel worthy. Very few employers create the feeling of worthiness among employees, and Walmart is not one of them.


I believe dog food is actually more expensive than human food but everyone likes to refer to the dog food diet for humans.

 

[grampi]

I never understood a person's job being their identity. Then again, I've never had a job that I loved either, so maybe that's why. The key to not getting bored in retirement is having enough income to allow you to do whatever you want. If I feel like traveling, I will. If I feel like buying something, I will. Point is, retirement can't be nothing more than sitting around and becoming a couch potato. Stay active, stay busy, keep your days full, and spend lots of time with friends and family....

 

[billt460]

Originally Posted by Wolf359
I believe dog food is actually more expensive than human food but everyone likes to refer to the dog food diet for humans.

That's a fact. I could feed my little guy off the J-Hooks in the cold cuts department, way cheaper than what I pay for his dog food and vitamins. Dog maintenance isn't cheap either. I pay $40.00 for his haircut and grooming. Mine costs $30.00.

 

[Alfred_B]

Yeah, you can't even have nutritious dog food as an alternative to hunger the way they have jacked up prices.

 

[Mr Nice]

grampi,

I agree with you. My identity is not related to my job / profession.

Its a paycheck with benefits no matter where I work.

 

[Wolf359]

Originally Posted by billt460
Originally Posted by Wolf359
I believe dog food is actually more expensive than human food but everyone likes to refer to the dog food diet for humans.

That's a fact. I could feed my little guy off the J-Hooks in the cold cuts department, way cheaper than what I pay for his dog food and vitamins. Dog maintenance isn't cheap either. I pay $40.00 for his haircut and grooming. Mine costs $30.00.


People can always buy a 5 or 10 pound bag of potatoes and that should be in the single digit dollar range.

 

[Benzadmiral]

Originally Posted by 02SE
As someone who retired early, I say retire as soon as you are able. Then you can do what you want every day.

My no. 1 concern is getting out of the pesthole where I live now so that I can enjoy my environment -- enjoy stepping out of my front door for more than 2 months a year. I may have to continue working part time wherever I settle after I "retire," but if I don't grit my teeth every time I go out, that'll be a big plus.

I have plenty of interests, so I don't think I'll decay immediately after I retire.

 

[wtd]

I retired early two years ago at age 50 and have not worked since and have no plans to do so. I am totally debt free so I don't have to work but it took a lot of hard work for years to make that happen. I agree that not everyone can afford to retire early or even wants to.

I have a friend who retired when I did from the same job and he started a new job a week later, not because he needed to but because he says he gets bored if he doesn't work. He plans to work until he dies. I don't understand it but hey, it's his life.

 

[grampi]

Originally Posted by Mr Nice
grampi,

I agree with you. My identity is not related to my job / profession.

Its a paycheck with benefits no matter where I work.



Exactly!

 

[grampi]

Originally Posted by wtd
I retired early two years ago at age 50 and have not worked since and have no plans to do so. I am totally debt free so I don't have to work but it took a lot of hard work for years to make that happen. I agree that not everyone can afford to retire early or even wants to.

I have a friend who retired when I did from the same job and he started a new job a week later, not because he needed to but because he says he gets bored if he doesn't work. He plans to work until he dies. I don't understand it but hey, it's his life.


I feel sorry for people like this. They don't have enough in their lives to keep themselves occupied without work. That's just sad...

 

[doitmyself]

Originally Posted by grampi
I feel sorry for people like this. They don't have enough in their lives to keep themselves occupied without work. That's just sad...


Makes sense since you stated above "Then again, I've never had a job that I loved either, so maybe that's why." Goodness, I couldn't imagine spending 20, 30, or more years of my life waking up every morning not excited to go to work. Talk about things to be sad about.

 

[Pew]

Originally Posted by grampi
I feel sorry for people like this. They don't have enough in their lives to keep themselves occupied without work. That's just sad...


House paid off, nothing broken at home, kids busy with their own families. Some people are lucky enough where they don't have anything to work on or worry about anymore. I wouldn't be sorry for them, I'd be happy.