(no subject)

[bertine]

eyelid just wrote this post about retirement saving. It got me thinking about early retirement. I know that some people on my list are stay at home mom's or have non-traditional jobs so I know that everyone doesn't fall neatly into this but I just want to know.

Just so you know, I don't dream of early retirement, just of more vacation a year.

[Poll #1106221]

Comments

[bertine.livejournal.com]

I figure when I retire I will volunteer somewhere or something.

I don't see myself quitting this career any time soon, I have goals and ambitions and all that.

[bertine.livejournal.com]

See, my "hobby" became my day job. If I was financially independent I might quit my job and do something a little more risky, like be part of a startup, but it still would be something in the web site making world.

[eyelid.livejournal.com]

I'd probably work part-time.

[bertine.livejournal.com]

Dammit, that is a good one for the poll above.

Investments!

[polyranger.livejournal.com]

I plan to retire when I am 60.

I've had 401k, IRA, Roth IRA, and mutual funds going since I was 22.

Say you are 30. Invest 15,500.00 max a year and in 30 years you will have 66990.11 assuming a 5% return annually. The next year do the same and you'll get 63800.10 (29 years). Now keep going for three more years. $362,125.71 at age 60. Had you started when you were 20, you would have $589,864.62.

Now if you only get 5% on your investments, you need an new adviser (I have the name of someone if you are interested. She handles our whole family...All four generations) and to get some diversification. These numbers assume you stopped investing anything at age 35. Not likely. Anyway, just some quick figures. Invest early. Compound interest...Gotta love it!

Re: Investments!

[bertine.livejournal.com]

I don't know when I'll retire but I have a feeling 60 will be the minimum. My question isn't really about money, I have a really good start on my retirement and am as confident about it as I'll ever get.

Maybe I should have asked the question better. More like "Would you still work in your field if you were financially independent?"

[bella-phenomena.livejournal.com]

I wouldn't say that I necessarily 'like' working, but there is something to be said for continuing to be active.

If I was able to retire early, I would DEFINITELY get a low stress job, or at least one that I enjoy more. I'd probably would only work 20-30 hours a week, instead of the current 40.

So, maybe my real answer is "yes" . . .

[bella-phenomena.livejournal.com]

Also, I don't think it's practical to completely stop working, even if you had the 'enough' money to sustain you for 40 years or something. You never know. You're investments could go sour. You might end out having a lot of health problems around 60-65, that end up draining a lot more of your savings than you had anticipated, and then where would you be.

I think it's a good idea to keep up an income until 65 unless you're not able . . .

[bertine.livejournal.com]

Exactly. My dad, who is a couple years from the point where he can retire from the county, plans on working as a consultant once he "retires".

90% of the time I wake up in the morning and am happy to go to work. The rest of the time I am ho-hum about work and it is rare that I just don't want to go which is when I take "mental health days".

[bella-phenomena.livejournal.com]

I'm envious. I seldom "want" to go to work. In fact, the only reason I'm still at this job is because, over all, it's a pretty good gig, and I think the money is probably the best I'll see with not being directly in sales. And not being in management. And not wanting to become a doctor or other highly trained specialist. And not wanting a job where I have to be, like, on time. And where I don't have to deal with clients face-to-face.

I guess my "real" answer is, if I could retire early, I'd change careers to something I like and enjoy . . .

[bertine.livejournal.com]

Maybe I have a weird idea of what retired means? Hmm....

I didn't want to be in management for a long time then one day I realized that I did that I want to work my way up the corporate ladder. Sometimes that makes me laugh to think about but it is true.

[bella-phenomena.livejournal.com]

Why, what does retirement mean to you? That you stop working? I don't know. Most of the people I know who've retired end up being much busier with misc. projects than when they were working.

[bertine.livejournal.com]

Or that other option I should have added. :)