retirement

[No CountryParticipant 759]

I think about this quite often and sure you all do as well, but what is your dream to do when you retire? What would be your ideal situation. What would you do, where would you want to live ect. I’m still a very young man but if I’m able to stay at my current job I’ll be able to retire at 53 with my pension. No kids and no wife will leave me to do what I please. But my ideal idea of retirement would be to live up in the mountains not too far from a little town in a cabin. Hell i would right now if I hit the lotto. What would you do?

[Silverstone the SecondParticipant]

Enjoy peace and quiet. Focus on my hobbies, music and writing, maybe write a memoir or my take on the world or something like that. Keep on with doing what I’m doing, but instead of doing it on the weekends, I’d do it all the time 😀

Feminism is a movement where opinions are presented as facts and emotions are presented as evidence.

[FrankOneParticipant 1417]

I want to read, hike, bike, and travel — I’ll probably get an RV. I like the Southwest. I’d like a long hike along the John Muir trail. At 45, I’m lucky in that I already have enough to retire, but I’m still planning on working until 50.

I’d recommend maxing out your 401K for any matching you can get (if available), and invest.

[BeerParticipant 11832]

No Country wrote:

But my ideal idea of retirement would be to live up in the mountains not too far from a little town in a cabin.

This is pretty much my plan as well but I plan on doing it mostly in a foreign country where the cost of living is much cheaper, or at the very least moving to a lower cost of living state, it depends how things are going in this country. If we get a numb nuts like Bernie Sanders in office who just wants to spend spend spend I’ll be doing it in a foreign country because at some point the debts going to have to move in the other direction and taxes are going to sky rocket here.

I don’t have to wait to a certain age for a pension, so I’m currently saving about 70% of my income. You really don’t need much to retire on if you keep your budget down. The way I look at it, if I’m in a position where I only need 20k a year to meet all my needs, if I have a million set aside making 6% a year, I’ll be making 60k a year, so I can live comfortably and still reinvest more than most people save per year while working.

Of course most people can’t see this because they dig themselves into a giant hole and can’t grasp the concept you can live on 1000 a month when you don’t have a mortgage, a car payment, cable TV with premium channels, a top notch cell phone package, don’t go out to eat every day, etc. Just don’t try to explain it to those people, they need to keep spending so my stock holdings keep paying me dividends.

[BeerParticipant 11832]

FrankOne wrote:

I want to read, hike, bike, and travel — I’ll probably get an RV. I like the Southwest. I’d like a long hike along the John Muir trail. At 45, I’m lucky in that I already have enough to retire, but I’m still planning on working until 50.

I’d recommend maxing out your 401K for any matching you can get (if available), and invest.

Congrats man. I’m shooting for having enough for my passive income to provide for a minimalist life style by 35, and the way I look at it, every year I work past that point is just working for lifestyle inflation. Just like you I don’t plan on pulling the trigger soon as I can, I’d rather work a few more years and have a much better standard of living, but its got to be an epic feeling knowing you don’t have to work, and that every paycheck you get is pretty much 100% disposable income!

[OldBillParticipant]

I’ve traveled to every inhabited continent for work and business, but I’ve never traveled for me. I’m going to take time to see some of the places I flew through. What stuff I own – and I’m actively reducing that with a flinty eye towards minimalism – will go into storage as I go to the airport.

It won’t be package tour, socks with sandals, sixteen suitcases, American retiree travel either. I’m going to go like Anthony Bourdain does; minimal luggage, avoiding the hordes, going where the locals go, all the that stuff but without eating sheep testicles or cobras.

After travel, I want to find some place small and quiet. Maybe I’ll try my hand at blacksmithing, maybe I’ll mess around with old clocks as a “doctor”, maybe I’ll keep bees, but I’ll definitely keep putting around with something. If you retire your hands and brains when you retire, you’re committing suicide.

I’ve also been looking more and more into becoming an expat. Belize, the PI, some place like that.

Do not date. Do not impregnate. Do not co-habitate. Above all, do not marry. Reclaim and never again surrender your personal sovereignty.

[FrankOneParticipant 1417]

Beer: Amen man! Saving 70% is impressive, great work. That is really exceptional for somebody your age (I’m assuming you’re somewhere around 30). Yes, foreign countries will get you a lot more bang for your buck, but I’m staying here for my surviving parent’s sake.

I had a paid-off house at 30. My brother didn’t want it (it was grandpa’s). Not fancy enough for him to impress the Jones’s (it’s 60 years old, tax eval of about $140K — a modest 3-bedroom, far more space than I require). I actually prefer living in an ‘older’ neighborhood than amongst the McMansions and what I often find to be snotty people. Sure, it needed a new roof and $10,000 of work on the inside. But I did both immediately, and here I am 15 years later — 15 years of no rent and no mortgage payments sure helps save money! Other than the house, I haven’t had any inheritance breaks, but a free house certainly helped — probably the biggest help was just duplicating the lifestyle of my skinflint parents. I drive a 6 year old Saturn sedan and paid cash for it. Last job change I made, I took not just for pay but because it was a relaxing 10 min away from my residence.

Most people just throw money away right and left. Example: I’m issued an iPhone at work. So why have a PERSONAL cell phone too? My employer doesn’t give a s~~~ what I do on my phone outside work, though I probably only make 10 min per day of personal calls — unless I look at porn or something not suitable for work, then and only then might it raise a flag. So why in the hell would I carry around two f~~~ing phones and pay $70/month for the privilege? If I drop it, I just expense it. If the battery isn’t holding charge, I just take it in, get a new one, and expense it. Yet almost ALL my colleagues have two phones. Then they show off they have an iPhone 6 instead of my iPhone 5s or some huge Android phone. Wow, that’s really worth $70/month? That is, they have two phones. But I shouldn’t bitch too much, if these consumers stopped buying my Apple stock would drop like a rock and the whole consumption based economy would collapse, haha.

I also don’t have a ‘budget’, like everyone says you’re supposed to; I just try to save money on things, I do indulge in eating out but use coupons all the time. I have high speed internet and cable, but no landline, just VOIP that costs $5 a month + my company-paid cellphone. I don’t drink and when I eat out, it’s usually fast casual food, under $7. I don’t subscribe to any pay-per-view, I just use bit torrent to download anything I want + Netflix + attach my telly to my computer. Right now I’m watching the old 70’s series ‘Paper Chase’. It’s fun.

[Crazy CanuckMember 4215]

i wouldn’t count on pensions, doesn’t matter if it’s government or private sector pension. If the government or company goes bust you’re screwed. Just look at the city of Detroit. My suggestion is having your own savings. If you own a home sell it, homes are more expensive than renting an apartment. http://money.cnn.com/2013/07/18/pf/detroit-bankruptcy-pensions/index.html

"If pussy was a stock it would be plummeting right now because you've flooded the market with it. You're giving it away too easy." - Dave Chapelle

[NotMyProblemParticipant 965]

I don’t believe in retirement.

In Japan they have no concept of “retirement”

Instead they have a word which I can’t remember but it means “lifes purpose”… okinowa maybe?

Retirement to me is quitting my day job. I want to invest and start businesses and learn skills and travel. Freedom and Money.

I’m thinking about sitting back and writing a novel or a screenplay. Maybe getting some music software and creating some cool beats. Like the soundtrack to my life.

I just want to create and invest and make money and be free.

Getting there slowly. Enjoying the journey.

Not my property... Not my problem

[OldBillParticipant]

Crazy Canuck wrote:

Just look at the city of Detroit.

While is Detroit is a good example, it’s not quite the example you think it is.

Detroit’s bankruptcy, and the other municipal bankruptcies we’ll see in the next decade, is due in large part to those pension plans. Allowing public sector workers to unionize opened the door for what I mentioned in the Why do women have the vote? thread; politicians bribing the citizenry with the citizenry’s own money. Year after year, election after election, union workers went to the polls in Detroit cast their vote with only one issue in mind: Which candidate promised to pour more slop into the trough myself and all the other pigs are crowded around?

You’re right advising the members here, especially the younger members, not to pin all their hopes on public or private pension plans. Pensions can be a part of one’s retirement plans. Just as we should diversify our investments, we should diversify our retirement funding between pensions, private savings, real estate, and other instruments. Naturally, just what sort of mix anyone should use depends on individual circumstances.

Do not date. Do not impregnate. Do not co-habitate. Above all, do not marry. Reclaim and never again surrender your personal sovereignty.

[No CountryParticipant 759]

I love all your guys comments. I like your guys way of thinking. I actually work in the private sector for a electrical distribution company that has been in business since 1869. All the folks I work with have 20 years plus. No one can tell what the future holds but at this time I dont have to fund my retirement and I get profit sharing that goes into a 401k which I at to on top.
So this gives me the ability to be have more diversified. 401k, pension, plus I invest in gold and silver do to the fact I don’t trust paper money. I do love what I do and believe in my company. It’s not that I want to retire and just sit on a sofa all day, it’s just my heart belongs in the mountains.
I respect all of your guys view. I have worked and made a lot of money that offered no 401k or home time, let alone sick and vacation. I’m not full banking on the idea that I will even get to retire in this economy let alone see it due to the f~~~ed world we live in. But I see myself like Bob Lee Swagger in Shooter living in peace hunting and fishing with a dog. Plus traveling on top. Heaven on earth in my eyes.

[Won'tGetFooledAgainParticipant 3293]

I am 42, and if I had never got married I am certain I would be able to retire now if I wanted to.

Now that I am divorced I live on 30% of my salary, 20% goes on alimony and I save the remaining 50%.

I have been working for 20 years now and if I had done this from the start instead of getting married I would have a house fully paid for and enough savings not to worry about money.

My dream life would to be work 3 days a week and spend the rest of my time working on my house, car, listening to music or playing computer games. On my days off I would not get out of bed before 10AM.

I have to pay that bitch for another 11 years, but when I am 53 I will truely be free from here and hopefully able to start working part time.

For women, everything eventually boils down to Alpha Fucks, Beta Bucks.

[BeerParticipant 11832]

Won'tGetFooledAgain wrote:

I am 42, and if I had never got married I am certain I would be able to retire now if I wanted to.

Now that I am divorced I live on 30% of my salary, 20% goes on alimony and I save the remaining 50%.

I have been working for 20 years now and if I had done this from the start instead of getting married I would have a house fully paid for and enough savings not to worry about money.

My dream life would to be work 3 days a week and spend the rest of my time working on my house, car, listening to music or playing computer games. On my days off I would not get out of bed before 10AM.

I have to pay that bitch for another 11 years, but when I am 53 I will truely be free from here and hopefully able to start working part time.

Dam that sucks. Its pretty terrible how many guys there are out there who have the sad experience of a divorce being the most expensive purchase they will ever make. I’d like to think mine will be a piece of real estate or a 6 month long cruise around the world…not paying some post wall c~~~ to f~~~ off.

[нσтησσвParticipant 830]

Middle of no where -> build house -> live off land -> build community of like minded people if i’m bored.

my plans in a nut shell.

24 here.
6 years away if all goes peachy…
could probably pull it off right now, but i’m wanting to keep a backup just in case.

My Goal: To Leave Society.

[SnakeSpectator 2080]

Detroit, huh.

[No CountryParticipant 759]

Haha Lmao @snake

[Won'tGetFooledAgainParticipant 3293]

Beer wrote:

Won’tGetFooledAgain wrote:

I am 42, and if I had never got married I am certain I would be able to retire now if I wanted to.

Now that I am divorced I live on 30% of my salary, 20% goes on alimony and I save the remaining 50%.

I have been working for 20 years now and if I had done this from the start instead of getting married I would have a house fully paid for and enough savings not to worry about money.

My dream life would to be work 3 days a week and spend the rest of my time working on my house, car, listening to music or playing computer games. On my days off I would not get out of bed before 10AM.

I have to pay that bitch for another 11 years, but when I am 53 I will truely be free from here and hopefully able to start working part time.

Dam that sucks. Its pretty terrible how many guys there are out there who have the sad experience of a divorce being the most expensive purchase they will ever make. I’d like to think mine will be a piece of real estate or a 6 month long cruise around the world…not paying some post wall c~~~ to f~~~ off.

Not only that, paying some post wall c~~~ to f~~~ her new mangina in your house.

I am certain if a man didn’t get married he could easily retire at 50.

For women, everything eventually boils down to Alpha Fucks, Beta Bucks.

[RoyDalParticipant]

A very old wise, wealthy and happy businessman told me to never retire.

Just keep playing real life monopoly.

All his friends retired and you die five years later.

When you need to rest the most is when you need to move to keep from turning to stone.

He lived to 89.
Also a shot a day.
Medeteranean diet.

That is my plan too.

Society asks MGTOWs: Why are you not making more tax-slaves?

[OneforfreedomParticipant 930]

Loving all your ideas! I’ll respond to what you guys have written here first and then share my dreams in the next post.

FrankOne wrote:

I’ll probably get an RV. I like the Southwest. I’d like a long hike along the John Muir trail. At 45, I’m lucky in that I already have enough to retire,

Sounds amazing man! Congrats on reaching Financial Independence so early in life!!!! I hope to reach it by that stage as well. You must be a very disciplined saver.

RV life sounds cool- you can just pick up and drive off to the next place when you want.

A very old wise, wealthy and happy businessman told me to never retire.

Very interesting concept- I think work is important throughout life, but most people associate work with something they hate/are forced to do for the $$.

So like many others said- maybe working “for free” on your hobbies could be an ideal solution.

I do agree that, to prevent atrophy, one must work throughout retirement.

Beer wrote:

I don’t have to wait to a certain age for a pension, so I’m currently saving about 70% of my income. You really don’t need much to retire on if you keep your budget down. The way I look at it, if I’m in a position where I only need 20k a year to meet all my needs, if I have a million set aside making 6% a year, I’ll be making 60k a year, so I can live comfortably and still reinvest more than most people save per year while working.

A 70% SAVINGS RATE? NICE!!!!!! You’ll reach FI/RE very very very soon.
You’re not going to withdraw 6% though right? I think 4% is the safe withdrawal rate.

Beer wrote:

Of course most people can’t see this because they dig themselves into a giant hole and can’t grasp the concept you can live on 1000 a month when you don’t have a mortgage, a car payment, cable TV with premium channels, a top notch cell phone package, don’t go out to eat every day, etc. Just don’t try to explain it to those people, they need to keep spending so my stock holdings keep paying me dividends.

Yep. Consumerism at its finest! I tried explaining the concept to some of my friends- and they just said “why deprive yourself? you’ve earned those luxuries!”

You know what? I’m going to earn the greatest luxury of all back- my time. Going to buy my financial freedom.

OldBill wrote:

I’ve traveled to every inhabited continent for work and business, but I’ve never traveled for me. I’m going to take time to see some of the places I flew through. What stuff I own – and I’m actively reducing that with a flinty eye towards minimalism – will go into storage as I go to the airport.

Sounds like a great plan. Are you going to backpack through Europe or something similar also?

Crazy Canuck wrote:

i wouldn’t count on pensions, doesn’t matter if it’s government or private sector pension. If the government or company goes bust you’re screwed. Just look at the city of Detroit. My suggestion is having your own savings. If you own a home sell it, homes are more expensive than renting an apartment. http://money.cnn.com/2013/07/18/pf/detroit-bankruptcy-pensions/index.html%5B/quote%5D

Very very important post here.. I was thinking of doing military for the pension, but I don’t like the idea of having my benefits cut at the whim of the same general population of which a sizable minority doesn’t even know the name of the current U.S. president.

[quote=151212]I don’t believe in retirement.

Yeah- I agree if retirement means being idle and nonproductive. You need to be productive to have happiness. But if you quit going to the job you hate, and spend the extra time working on projects/things you LIKE, then you’re technically still retired and happy!

Won'tGetFooledAgain wrote:

My dream life would to be work 3 days a week and spend the rest of my time working on my house, car, listening to music or playing computer games. On my days off I would not get out of bed before 10AM.

AMEN!!!!! I LOVE THIS. Especially the 10am part.

Beer wrote:

6 month long cruise around the world

Yep- sounds gorgeous!

[OneforfreedomParticipant 930]

So my ideas so far for retirement:

1) Currently in my mid-20s.
2) Hoping to reach FI/RE (Financial Independence/Retiring Early) by mid-40s.
3) Calculations show that I’ll have just about $5K/month in today’s spending power for life, if I withdraw only 4% of my portfolio after adjusting for inflation (for life).

What I want to do:
1) Geographical Arbitrage. Set up my home in TX or another low cost of living state. And also travel overseas to cheap countries like Thailand, Laos. Spend a good amount of time SLOW traveling. Exploring each country.

2) Set up a private medical practice in my hometown in TX. This is to stay active. I like Medicine and I want to keep practicing it. Hours shall be 10am-3pm Mon-Thurs. And since I’ll have a permanent income from my investments, I’ll offer all my services at 90% off the original price. So if a shot costs $20, I’ll only charge $2 to pay the receptionist and the medical supplies bills.

3) Computer Games! I want to set up a home theater in my house and just play all the games I love.

4) Family and food. I’ll hang out a lot with my parents and cousins.

[Author]

Posts