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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.
 

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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%.
 

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Change is good.
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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.
 

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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.... :grinpimp:
 

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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.... :grinpimp:
And stamps are .55 cents....
 

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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?
 

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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.
 

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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.

.
 

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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...
 

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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.
 

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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.
 

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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,
 

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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. :laughing:
 

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Discussion Starter #17 (Edited)
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.

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.

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.

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.

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.

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.

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.

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.
 

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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.... :grinpimp:
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!
 

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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.
 

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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
 
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