retirement - Pirate4x4.Com : 4x4 and Off-Road Forum
 
Pirate4x4.Com : 4x4 and Off-Road Forum  

Go Back   Pirate4x4.Com : 4x4 and Off-Road Forum > Miscellaneous > General Chit-Chat
Notices

Reply
 
Share LinkBack Thread Tools Display Modes
Old 07-15-2019, 08:23 AM   #1 (permalink)
Pirate4x4 Addict!
 
mobil1syn's Avatar
 
Join Date: Feb 2002
Member # 9795
Location: riverside, ca
Posts: 16,309
Send a message via AIM to mobil1syn
retirement

so random thought from the weekend. instead of killing yourself until 62 then retiring, why not save 10% a year and take a year off every 10. obviously some professions would lend themselves to this lifestyles, better then others.

anyone done anything like this? i know screwzer was all about the sabbatical.
__________________
We are all born Arminians. It is grace that turns us into Calvinists
-George Whitefield
mobil1syn is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 08:36 AM   #2 (permalink)
Registered User
 
wheelerfreak's Avatar
 
Join Date: Apr 2001
Member # 4135
Location: Sto'Vo'Kor
Posts: 5,285
I know of a couple of "professional" white collar types that do that. Like you said, it seems to fit that lifestyle better than blue collar or service type jobs. That, and most people don't save for retirement and are incapable of saving 10%.

Who says you have to work until 62? I retired from one job after 24 years and am really only working for another 8 years full time until my wife can retire. I did sock away a fuck ton more than 10%, or even 30%.
__________________
The press is a gang of cruel faggots. Journalism is not a profession or a trade. It is a cheap catch-all for fuckoffs and misfits—a false doorway to the backside of life, a filthy piss-ridden little hole nailed off by the building inspector
wheelerfreak is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 08:45 AM   #3 (permalink)
Change is good.
 
Roc Doc's Avatar
 
Join Date: Jun 2003
Member # 20631
Location: Desert Hills, AZ
Posts: 35,191
Most people spend into their income, so even if they're making more, their burn rate goes up. I've done it to an extent, but I'm also putting 21% of my paychecks into investments.

I had the job to do it while in Vegas, but not the income. So that's usually the rub, time but no money, or money but no time. If you can figure that out then props.
__________________
Quote:
Originally Posted by Mustard Dog
Me and my co driver were running across the Lakebed on our way to pre run when we saw :gary: walking his dog.

We didn't stop to say hi cause he's a fucking douchebag.
Roc Doc is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 08:45 AM   #4 (permalink)
Registered User
 
Join Date: Nov 2001
Member # 7907
Location: Hiding out in Humboldt County....
Posts: 2,234
Job time continuity allowed me to collect the duckets needed to fund my retirement pension and my medical coverage. Without either, I would not have been able to retire at 58 yo, after 35 years with the same company.

In that interim, I also paid off my house and cars, so I went into retirement debt free, other than monthly living expenses.

That and a kick ass 401k that the company matched, allowed me to retire early. I just started collecting Social Security at 62, so I have been flush in cash lately.

Life is good....

Last edited by GonPostal; 07-15-2019 at 08:47 AM.
GonPostal is online now   Reply With Quote Quick reply to this message
Old 07-15-2019, 08:49 AM   #5 (permalink)
Registered User
 
Join Date: Jan 2007
Member # 85771
Location: Minnysooota
Posts: 18,406
Why kill yourself?
__________________
Make Forums Great Again!
ky scrambled is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 08:50 AM   #6 (permalink)
Registered User
 
Join Date: Jan 2007
Member # 85771
Location: Minnysooota
Posts: 18,406
Quote:
Originally Posted by GonPostal View Post
Job time continuity allowed me to collect the duckets needed to fund my retirement pension and my medical coverage. Without either, I would not have been able to retire at 58 yo, after 35 years with the same company.

In that interim, I also paid off my house and cars, so I went into retirement debt free, other than monthly living expenses.

That and a kick ass 401k that the company matched, allowed me to retire early. I just started collecting Social Security at 62, so I have been flush in cash lately.

Life is good....
And stamps are .55 cents....
__________________
Make Forums Great Again!
ky scrambled is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 08:53 AM   #7 (permalink)
Registered User
 
bigun's Avatar
 
Join Date: Apr 2004
Member # 29037
Location: Mountainair NM
Posts: 13,652
Quote:
Originally Posted by mobil1syn View Post
so random thought from the weekend. instead of killing yourself until 62 then retiring, why not save 10% a year and take a year off every 10. obviously some professions would lend themselves to this lifestyles, better then others.

anyone done anything like this? i know screwzer was all about the sabbatical.
You have been reading Travis McGee novels again?
__________________
“Indeed the safest road to Hell is the gradual one..." C S Lewis
bigun is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 09:13 AM   #8 (permalink)
Registered User
 
Join Date: Apr 2001
Member # 4387
Location: In your head
Posts: 12,185
Early in life your usually not making the $$ to save an extra 10%. Until I was in my early 30's I didn't have enough extra to buy a new lawn mower. I'm at 52, have a decent amount saved but I wonder if it's enough. The SS and US debt is going to blow up about the time I should be getting medicare/SS. So you have to plan for that, plus healthcare cost is going to eat my generation up.

My - I'm pretty well fugged math

If I retire early, we need $2500 month healthcare minimum (insurance, meds, co-pays, etc).

Property tax/ insurance/house maintenance $1000
transportation $600 (tires, new car, oil, etc)
Food misc - 1000.
Beer, blow, and a can of alpo prime cuts $1000

So - early retirement is expensive - like ~$6k a month minimum net after taxes. That's having your house and stuff paid for. So it's a good thought but you really need 6-8k a month gross income to do it. And that's a number that needs adjusted for inflation.

SS starts to run dry in 2034, or 15 years. So the real answer is you won't really know if an extra 10% will be enough. Especially with the rise of socialism and communism in this country, they will try and raise taxes to 50%-70% because giving your money to someone else is what they do.


The US federal debt is at $223k per person and rising. We have hit the point of no return. So assuming things will stay as they are now is probably a bad bet.
Norm is online now   Reply With Quote Quick reply to this message
Old 07-15-2019, 09:14 AM   #9 (permalink)
Zeus of the Sluice
 
jeepyj's Avatar
 
Join Date: Mar 2003
Member # 17637
Location: Middlesex NY
Posts: 2,525
I figure with the state of NY. I can work till 62 without saving a penny, then kill someone else, and have a nice retirement with free room and board. I can even keep my voting rights.

.
__________________
Quote:
Treason is about betraying your fellow citizens to an enemy. Not about betraying your government to your fellow citizens.
jeepyj is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 09:29 AM   #10 (permalink)
Registered User
 
Join Date: Jan 2011
Member # 181868
Location: North Florida
Posts: 3,329
Quote:
Originally Posted by jeepyj View Post
I figure with the state of NY. I can work till 62 without saving a penny, then kill someone else, and have a nice retirement with free room and board. I can even keep my voting rights.

.
Don't forget free medical.
__________________
Project : Amphibious HEMTT


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
waterhorse is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 09:40 AM   #11 (permalink)
Registered User
 
Join Date: Oct 2013
Member # 369978
Location: South Jordan, Utah
Posts: 7
Likely will never fully retire, with medical costs being what they are and rising they will push many people to the edge in retirement.

Goal is to approach it with minimal bills, no mortgage or car note and such.
Even at minimum one still needs to account for paying for ever increasing property taxes, higher insurance premiums (home/auto) and all the other increases that follow.

Not counting on SS (41 as of June), even if it is there it will be nothing as it was for the generations before mine.

Its a giant shit sammich, either way we are along for the ride...
Gtrplyr78 is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 09:43 AM   #12 (permalink)
Take a Knee
 
Mudinyeri's Avatar
 
Join Date: Mar 2005
Member # 44531
Location: Nebraska ... the Good Life
Posts: 8,453
Why not just do something you enjoy so there's no need to "retire"?
__________________
Medium Speed, Some Drag
Mudinyeri is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 12:32 PM   #13 (permalink)
Ebs
Registered User
 
Join Date: May 2003
Member # 20043
Location: MI
Posts: 5,379
Time, Energy, Money

The goal is to have a satisfying amount of all three. Most people only ever possess a changing combination of two throughout their life.

Last edited by Ebs; 07-15-2019 at 12:44 PM.
Ebs is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 12:39 PM   #14 (permalink)
Registered User
 
Join Date: Mar 2010
Member # 157355
Location: NE
Posts: 6,902
Quote:
Originally Posted by mobil1syn View Post
so random thought from the weekend. instead of killing yourself until 62 then retiring, why not save 10% a year and take a year off every 10. obviously some professions would lend themselves to this lifestyles, better then others.

anyone done anything like this? i know screwzer was all about the sabbatical.
Because the first day back knowing you had 9 years and 364 days until your off again would suck so bad it's not worth taking a year off.
__________________
Minimal mech. knowledge, overly ambitious
Pokeman is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 12:42 PM   #15 (permalink)
Registered User
 
Join Date: Mar 2010
Member # 157355
Location: NE
Posts: 6,902
Become a teacher....

get 3-4 weeks off every school year,
every major and minor holiday off,
get summers off every year,
.gov retirement,
can't get fired,
__________________
Minimal mech. knowledge, overly ambitious
Pokeman is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 01:12 PM   #16 (permalink)
Registered User
 
Join Date: Jul 2017
Member # 775873
Posts: 38
Quote:
Originally Posted by jeepyj View Post
I figure with the state of NY. I can work till 62 without saving a penny, then kill someone else, and have a nice retirement with free room and board. I can even keep my voting rights.

.
Don't forget the free buttsex.
FJC11 is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 01:14 PM   #17 (permalink)
Pirate4x4 Addict!
 
mobil1syn's Avatar
 
Join Date: Feb 2002
Member # 9795
Location: riverside, ca
Posts: 16,309
Send a message via AIM to mobil1syn
there are things i want to do that need extensive amounts of time. i want to spend a few months driving around the us and canada checking stuff out with my kids. my wife wants to 'see europe' and if we got two weeks that means running around like crazy people instead of taking our time and checking stuff out (we did this in DC and it was miserable). i would much rather walk a few marathons now while im youngish, instead of when im in my 60s and unable to walk. another option would be to position yourself in your profession that would be able to take extended periods of time off.

Quote:
Originally Posted by wheelerfreak View Post
I know of a couple of "professional" white collar types that do that. Like you said, it seems to fit that lifestyle better than blue collar or service type jobs. That, and most people don't save for retirement and are incapable of saving 10%.

Who says you have to work until 62? I retired from one job after 24 years and am really only working for another 8 years full time until my wife can retire. I did sock away a fuck ton more than 10%, or even 30%.
going off the general age people toss out there. i am a believer that retirement is a number not an age.

Quote:
Originally Posted by Roc Doc View Post
Most people spend into their income, so even if they're making more, their burn rate goes up. I've done it to an extent, but I'm also putting 21% of my paychecks into investments.

I had the job to do it while in Vegas, but not the income. So that's usually the rub, time but no money, or money but no time. If you can figure that out then props.
if we are talking about saving a years worth of income we are making a few basic assumptions that there is excess money to save and are disciplined enough to do it.

Quote:
Originally Posted by bigun View Post
You have been reading Travis McGee novels again?
no idea who that is. just a culmination of conversations with friends, reading, podcasts, and a recent sermon at church.

Quote:
Originally Posted by Norm View Post
Early in life your usually not making the $$ to save an extra 10%. Until I was in my early 30's I didn't have enough extra to buy a new lawn mower. I'm at 52, have a decent amount saved but I wonder if it's enough. The SS and US debt is going to blow up about the time I should be getting medicare/SS. So you have to plan for that, plus healthcare cost is going to eat my generation up.

My - I'm pretty well fugged math

If I retire early, we need $2500 month healthcare minimum (insurance, meds, co-pays, etc).

Property tax/ insurance/house maintenance $1000
transportation $600 (tires, new car, oil, etc)
Food misc - 1000.
Beer, blow, and a can of alpo prime cuts $1000

So - early retirement is expensive - like ~$6k a month minimum net after taxes. That's having your house and stuff paid for. So it's a good thought but you really need 6-8k a month gross income to do it. And that's a number that needs adjusted for inflation.

SS starts to run dry in 2034, or 15 years. So the real answer is you won't really know if an extra 10% will be enough. Especially with the rise of socialism and communism in this country, they will try and raise taxes to 50%-70% because giving your money to someone else is what they do.


The US federal debt is at $223k per person and rising. We have hit the point of no return. So assuming things will stay as they are now is probably a bad bet.
which would be another reason to take mini retirements along the way, because arguably it will keep you in the work force longer.

Quote:
Originally Posted by Gtrplyr78 View Post
Likely will never fully retire, with medical costs being what they are and rising they will push many people to the edge in retirement.

Goal is to approach it with minimal bills, no mortgage or car note and such.
Even at minimum one still needs to account for paying for ever increasing property taxes, higher insurance premiums (home/auto) and all the other increases that follow.

Not counting on SS (41 as of June), even if it is there it will be nothing as it was for the generations before mine.

Its a giant shit sammich, either way we are along for the ride...
healthcare is a huge unknown that will have a large impact on the future of the country. my inlaws are still working to get to the medicare age, even though they have the money to retire. my parents are in a similar situation, not as flush with cash as the inlaws but my dad is pension eligible as teacher.

Quote:
Originally Posted by Mudinyeri View Post
Why not just do something you enjoy so there's no need to "retire"?
its the extended periods of time off that would be nice.

Quote:
Originally Posted by Pokeman View Post
Become a teacher....

get 3-4 weeks off every school year,
every major and minor holiday off,
get summers off every year,
.gov retirement,
can't get fired,
wife is a teacher, dads a teacher, most of my siblings are teachers. that is not something i would be good at. problem with teachers and vacations is everyone and their mother is taking the same time off because their kids are out of school.
__________________
We are all born Arminians. It is grace that turns us into Calvinists
-George Whitefield

Last edited by mobil1syn; 07-15-2019 at 01:15 PM.
mobil1syn is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 01:30 PM   #18 (permalink)
HOG JOCKEY
 
herbycj5's Avatar
 
Join Date: Sep 2005
Member # 54114
Location: SoCal
Posts: 1,423
Quote:
Originally Posted by GonPostal View Post
Job time continuity allowed me to collect the duckets needed to fund my retirement pension and my medical coverage. Without either, I would not have been able to retire at 58 yo, after 35 years with the same company.

In that interim, I also paid off my house and cars, so I went into retirement debt free, other than monthly living expenses.

That and a kick ass 401k that the company matched, allowed me to retire early. I just started collecting Social Security at 62, so I have been flush in cash lately.

Life is good....
Good for you! Basically did the same as you. Worked a lot in construction for 32years after my 4 year stint in the Tonkin Gulf Yacht club. Lived in the same house for 38 years. Retired at 57, had my union pension and insurance until I was 62. Started drawing SS and Medicare at that time. Here it is 17 years later and life is good. Variety of lots of toys and no payments! Try to use all of them as much as possible. While working, always had a plan and tried sticking to it. So far has worked out. Only issue I see now is this new group of Socialistic Demos that are wanting to take it all away. Did I mention......I strongly believe in the 2cd Amendment, suggest everyone does the same!
__________________
HOG JOCKEY
herbycj5 is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 01:35 PM   #19 (permalink)
Registered User
 
Join Date: Oct 2001
Member # 7412
Location: Azle Texas, Aguilar Colorado
Posts: 6,419
i plan on quitting my job at 59, 5 years from now. my house has been paid for for a while and i have purchased other properties since then. so i figure i will just live off the rental income and the wife's ss and pension. hers isn't much but it will keep here out of my money.
__________________
m35A2C 4x4 sitting on 49" R2s,suburban 454/465/205 43" ag tires,Durango on tons and 40s
gunracer1 is online now   Reply With Quote Quick reply to this message
Old 07-15-2019, 01:47 PM   #20 (permalink)
Registered User
 
Join Date: Oct 2006
Member # 81613
Posts: 1,065
Im trying to retire by 55, 52 now.
Starting to sell everything off , fixing up the house to sell.
Kinda hard to quit a good paying job , but im not gonna be that guy that works til 65 and drops dead 2 weeks later.
Saving everything I can, eating rice & beans for lunches.

Sent from my SM-G920V using Tapatalk
ransil is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 01:49 PM   #21 (permalink)
Registered User
 
Join Date: Jan 2010
Member # 152210
Location: san benito county, ca
Posts: 1,318
I had a friend who did that... at 40 he took a year off just like what you said.

Man, his life unraveled like a sumbitch and when he went back to work, he had a hard time explaining the time off and went back two rungs down and then very discouraged.

The reverberations from that year ended up really changing his arc in life and at 57 he is a long way from retirement much less a sabbatical... he has become a very negative, dark person and hates work more than ever.

If you hate what you do, then get out. Find something that makes you get up and with a reasonably light heart. If every day sucks, you are doing it wrong... I like working and will probably work another 8 years... I am good at it, and I get paid well, I still have kids in school (college) and some still launching... so, I could use the extra money...

I worry that retirement will be like not exercising or doing physical work and I'll waste away...
__________________
"Be polite to everyone you meet, but always have a plan to kill them"
-Bubba Ray Boudreaux
gladman is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 01:57 PM   #22 (permalink)
Pirate4x4 Addict!
 
mobil1syn's Avatar
 
Join Date: Feb 2002
Member # 9795
Location: riverside, ca
Posts: 16,309
Send a message via AIM to mobil1syn
Quote:
Originally Posted by gladman View Post
I had a friend who did that... at 40 he took a year off just like what you said.

Man, his life unraveled like a sumbitch and when he went back to work, he had a hard time explaining the time off and went back two rungs down and then very discouraged.

The reverberations from that year ended up really changing his arc in life and at 57 he is a long way from retirement much less a sabbatical... he has become a very negative, dark person and hates work more than ever.

If you hate what you do, then get out. Find something that makes you get up and with a reasonably light heart. If every day sucks, you are doing it wrong... I like working and will probably work another 8 years... I am good at it, and I get paid well, I still have kids in school (college) and some still launching... so, I could use the extra money...

I worry that retirement will be like not exercising or doing physical work and I'll waste away...
i dont hate what i do, i have had jobs where i disliked every minute i was there. i will do everything i can not to go back to that. when i dont want to get it up, its because im just feeling lazy that day and nothing to do with what is waiting for me when i get to work. the crappy jobs give me perspective for where i am at now.

what did he do? outside looking in was there something he could have done differently to keep it from going the way it did?
__________________
We are all born Arminians. It is grace that turns us into Calvinists
-George Whitefield
mobil1syn is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 02:09 PM   #23 (permalink)
Registered User
 
Join Date: Apr 2001
Member # 4387
Location: In your head
Posts: 12,185
Quote:
Originally Posted by ransil View Post
Im trying to retire by 55, 52 now.
Starting to sell everything off , fixing up the house to sell.
Kinda hard to quit a good paying job , but im not gonna be that guy that works til 65 and drops dead 2 weeks later.
Saving everything I can, eating rice & beans for lunches.

Sent from my SM-G920V using Tapatalk
I've been thinking about it too, I'm 52 and could downsize my house and buy enough muli-family rentals to say fugg it pretty soon (really any time). But on the other side sometimes my job doesn't suck and I have to have something to do. I think I'll hang if a few more years. Medical is a big pisser. I'm also not sure if want to snow bird in the winter or just move to a more moderate climate. Once I have enough rentals to pay me (~8 doors) I'm done if I want.

Choices.
Norm is online now   Reply With Quote Quick reply to this message
Old 07-15-2019, 02:24 PM   #24 (permalink)
Registered User
 
Join Date: Apr 2010
Member # 159257
Location: Nevadafornia
Posts: 1,921
Quote:
Originally Posted by mobil1syn View Post
so random thought from the weekend. instead of killing yourself until 62 then retiring, why not save 10% a year and take a year off every 10. obviously some professions would lend themselves to this lifestyles, better then others.

anyone done anything like this? i know screwzer was all about the sabbatical.
Simple. People don't want to make more so they can save more. People want to get paid more so they can spend more. You'd have to plan that retirement at 52 years old pretty early to have enough to make it on retirement too. I don't think saving 10% a year for 10 years will be enough to live on while you're retired (like...not working part time somewhere else while you're retired from working) so that could be another reason.

I'm currently required to save about 15% each paycheck to retire in my 50s as a State employee with a pension that currently pays 75% (no benefits or any of the stuff most people think you get with a pension) so 10% seems extremely low to retire on in your 50s.
H8DWINGS is offline   Reply With Quote Quick reply to this message
Old 07-15-2019, 02:29 PM   #25 (permalink)
Registered User
 
Join Date: Jan 2010
Member # 152210
Location: san benito county, ca
Posts: 1,318
Quote:
Originally Posted by mobil1syn View Post
i dont hate what i do, i have had jobs where i disliked every minute i was there. i will do everything i can not to go back to that. when i dont want to get it up, its because im just feeling lazy that day and nothing to do with what is waiting for me when i get to work. the crappy jobs give me perspective for where i am at now.

what did he do? outside looking in was there something he could have done differently to keep it from going the way it did?
white collar 150K a year gig in some business development shit. The gist is he just didn't see the value in working... and he had a wife, 2 kids, mortgage and his life was more expensive than he thought.... and he didn't realize that when you aren't gone all day, people ask you to do shit, just life things that most people don't think twice about... but, he realized he couldnt just go down to MX and surf, his kid had basketball...

existing money is not usually the fear, it is the unknown money in the future...

I think he fundamentally does not think working is something 'smart' people should do... we drifted as friends because, well, I do. I think we are here to work and to get things done...
__________________
"Be polite to everyone you meet, but always have a plan to kill them"
-Bubba Ray Boudreaux
gladman is offline   Reply With Quote Quick reply to this message
Reply

Quick Reply
Message:
Options

Register Now

In order to be able to post messages on the Pirate4x4.Com : 4x4 and Off-Road Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.

** A VERIFICATION EMAIL IS SENT TO THIS ADDRESS TO COMPLETE REGISTRATION!! **

Email Address:
Insurance
Please select your insurance company (Optional)

Log-in


Thread Tools
Display Modes

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -7. The time now is 11:36 AM.


Powered by vBulletin® Version 3.8.8 Beta 4
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Search Engine Optimization by vBSEO 3.6.0 ©2011, Crawlability, Inc.
User Alert System provided by Advanced User Tagging (Pro) - vBulletin Mods & Addons Copyright © 2020 DragonByte Technologies Ltd.
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2020 DragonByte Technologies Ltd.