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Early Retirement Plans???


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#1 Dex

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Posted 17 September 2005 - 07:05 AM

Thanks for this section of the forum. There is quite a diverse group of people here so the questions and discussions should be interesting. One of my focuses of the last year has been retiring at the age of 51 next year. I estimate I will have a net worth of $1.6m and will getting a 15K pension at 60 and social security at 63. So I think I will have enough money to live a comfortable lifestyle. I am single. So I do not see the challenges of retiring early as a financial one. The emotional challanges and questions are the hardest. For example, I grew up poor and work hard to get to a position where I earn $155K/year. The fear of poverty (and foolishness) is a powerful one - even with $1.6m. It may be that having the money has taken away some of the drive at work and the work is boring (accounting). What will life be like without the routine of work. Will I look back after a year of retirement and think I made a big mistake? I exchanged a couple of emails with Gary Smith and it sound as if he is living a semi retired lifestyle - living where he wants; doing what he wants without a boss. Considering all his research for trading I don't consider it a full retirement. My trading style is longer term. Right now I have about $600 in the euro and Australian $; the rest in cash. I plan to have a split of about $800K bonds $500K stock and $300K home by the end of 2005. So the question is: The objective of trading is to make money. Are you planning to retire early? If so, what are some of your goal - financial, lifestyle etc.
"The secret of life is honesty and fair dealing. If you can fake that, you've got it made. "
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#2 hiker

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Posted 17 September 2005 - 11:55 AM

Hi Dex....you and I have spoken on occasions about this subject for a couple years so I thought I would share that one of my goals in my later years is much the same as now: to enjoy my life each day, and be helpful to others. Here are some thoughts my uncle Charlie sent me today that apply to managing stress along the way since later life brings its own challenges: thoughts from a speech - "So, before you return home tonight, put the burden of work down. Don't carry it home. You can pick it up tomorrow. Whatever burdens you're carrying now, let them down for a moment if you can." "Relax; pick them up later after you've rested. Life is short. Enjoy it! And then he shared some ways of dealing with the burdens of life: * Accept that some days you're the pigeon, and some days you're the statue. * Always keep your words soft and sweet, just in case you have to eat them. * Always read stuff that will make you look good if you die in the middle of it. * Drive carefully. It's not only cars that can be recalled by their maker. * If you can't be kind, at least have the decency to be vague. * If you lend someone $20 and never see that person again, it was probably worth it. * It may be that your sole purpose in life is simply to serve as a warning to others. * Never buy a car you can't push. * Never put both feet in your mouth at the same time, because then you won't have a leg to stand on. * Nobody cares if you can't dance well. Just get up and dance!! * Since it's the early worm that gets eaten by th bird, sleep late. * The second mouse gets the cheese. * When everything's coming your way, you're in the wrong lane. * Birthdays are good for you. The more you have, the longer you live. * You may be only one person in the world, but you may also be the world to one person. * Some mistakes are too much fun to only make once. * We can learn a lot from crayons. Some are sharp, some are pretty and some are dull. Some have weird names, and all are different colors, but they all have to live in the same box. * A truly happy person is one who can enjoy the scenery on a detour. * When your load is too heavy, let God help you carry it. "Once you can accept the universe as matter expanding into nothing that is something, wearing stripes with plaid comes easy." -Albert Einstein

#3 tradertalkmick

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Posted 20 September 2005 - 11:57 AM

Great stuff. :)