Retirement

kapuna · 12-31-2007, 10:47 PM

Think of retirement as a journey - not a destination.

Your life is not a dress rehearsal, this is "SHOW TIME"

Take Care, Kapuna

jasoos007 · 01-01-2008, 10:32 AM

I can't agree more with you ...than that ....

Will · 01-01-2008, 11:41 AM

Quote:

Originally Posted by kapuna

Think of retirement as a journey - not a destination.
Take Care, Kapuna[/b]

What if you want to retire by a certain age? Sometimes I like to set goals like "I want to be independently wealthy by 35." Do you think that is treating the situation like a destination (goal) or journal (experience)?

Billyum · 01-01-2008, 11:55 AM

GOOD THOUGHT Will

Quote:

Originally Posted by Will

What if you want to retire by a certain age? Sometimes I like to set goals like "I want to be independently wealthy by 35." Do you think that is treating the situation like a destination (goal) or journal (experience)?

Maybe a bit of both . . . You are on the right road and I suspect you already know the rest . . .

Set specific, written obtainable goals

$ amount (if it is financial)

When should this be accomplished

What steps do I have to take

What tools and other resources do I need

How, when and where will I get them

Don't forget to set some intermediate goals and rewards for yourself when you reach them so you don't get discouraged and give up along the way.

And at this time of the year it can be beneficial to remember the old "The Longest Journey Begins with . . . . ."

So what better time to get going?

Rapuccini · 01-25-2008, 01:49 PM

It is definitely good to have a goal but you might find yourself questioning your goals along the way. For example, if you want to be independently wealthy by age 35, you will need to assess what it would take to achieve this (either saved/invested or through some other means). But in doing this, you might find yourself questioning what you think you will need. And, then you might question why....

All in all, a good process. But you might find yourself in a very different mental place as you work through it!

rstlne · 01-25-2008, 02:52 PM

Apropos to this discussion, a while ago, I read The Number, a book addressing the topic of retirement goals:
Lee Eisenberg - The Number - A Completely Different Way to Think About the Rest of Your Life

The book raises the questions of how much in savings you need to retire and whether it might be better to reconsider retirement as a process of downshifting instead. I found it quite fascinating and it informed my thinking that I may not have to wait until I'm 67 before beginning the downshifting / lifestyle-change process.

Julie Rains · 01-25-2008, 06:27 PM

I'll offer a contrarian view that retiring early may not always be the best thing to do -- though accumulating wealth is always a good idea. Getting out of the rat race and/or leaving a lousy boss and finding an enjoyable job or meaningful work is worthy, and if having the "number" allows you to do that, then early retirement is great. But I think that retirement should allow you the freedom to pursue goals and have time to enjoy yourself -- workng at a job that gives you that freedom until you are 65 can be just as good or preferable to working at a so-so or miserable job until you are 50 and retiring early. I love that Oliver Smithies (a researcher at UNC who recently won the Nobel Prize) still goes to work in his 80s.

Will, you always act as if 35 is ahead of you (and maybe it is) but your knowledge of UNC basketball players (Bobby Jones?) makes me think otherwise; but I could be wrong....

Will · 01-25-2008, 06:56 PM

I am 33, so 35 is really not THAT far ahead of me.

I have a lot of "greatest all-time UNC team vs. greatest all-time UCLA team"
discussions with my friends. That's why I know and appreciate some of the legends of college basketball.

Jackie Arlen · 01-25-2008, 07:19 PM

Gosh this thread makes me feel really old. I've passed 35 and am nowhere near being independently wealthy. We had an internet business which wasn't our pot of gold, we were a definitely a dot bomb and are finally, after years of hard work, getting out from it this year.

That said, it's definitely been a journey!

Julie Rains · 01-26-2008, 04:41 AM

Quote:

Originally Posted by Will

I have a lot of "greatest all-time UNC team vs. greatest all-time UCLA team"
discussions with my friends. That's why I know and appreciate some of the legends of college basketball.

I see...I was a kid when John Wooden and UCLA (Bill Walton, Lew Alcindor -- Kareem) dominated the NCAA but then I'm old. I've seen some ESPN Classics but the ones I've seen were the ones when I was in college.

I've never seen Bobby Jones in those -- I know he's old(er) because he was several years ahead of me in high school (we went to the same one, he grew up in my neighborhood). Oddly, there are 2 BJ and both played with the 76ers.

Perhaps you still have time (if you haven't already) to be fab wealthy by 35 -- but if you are having fun now, it doesn't matter when that happens.

12-31-2007, 10:47 PM	#1
kapuna Junior Member Join Date: Dec 2007 Location: Pacific Northwest Posts: 1 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	Retirement Think of retirement as a journey - not a destination. Your life is not a dress rehearsal, this is "SHOW TIME" Take Care, Kapuna

01-25-2008, 06:27 PM	#7
Julie Rains Wise Bread Blogger Join Date: May 2007 Location: North Carolina Posts: 399 Thanks: 1 Thanked 0 Times in 0 Posts Reputation: (189)	I'll offer a contrarian view that retiring early may not always be the best thing to do -- though accumulating wealth is always a good idea. Getting out of the rat race and/or leaving a lousy boss and finding an enjoyable job or meaningful work is worthy, and if having the "number" allows you to do that, then early retirement is great. But I think that retirement should allow you the freedom to pursue goals and have time to enjoy yourself -- workng at a job that gives you that freedom until you are 65 can be just as good or preferable to working at a so-so or miserable job until you are 50 and retiring early. I love that Oliver Smithies (a researcher at UNC who recently won the Nobel Prize) still goes to work in his 80s. Will, you always act as if 35 is ahead of you (and maybe it is) but your knowledge of UNC basketball players (Bobby Jones?) makes me think otherwise; but I could be wrong.... Last edited by Julie Rains; 01-25-2008 at 06:29 PM. Reason: another thought

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01-01-2008, 10:32 AM	#2
jasoos007 Junior Member Join Date: Dec 2007 Posts: 8 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	I can't agree more with you ...than that ....

01-25-2008, 01:49 PM	#5
Rapuccini Junior Member Join Date: Jan 2008 Location: Houston, TX Posts: 7 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	It is definitely good to have a goal but you might find yourself questioning your goals along the way. For example, if you want to be independently wealthy by age 35, you will need to assess what it would take to achieve this (either saved/invested or through some other means). But in doing this, you might find yourself questioning what you think you will need. And, then you might question why.... All in all, a good process. But you might find yourself in a very different mental place as you work through it!

01-25-2008, 02:52 PM	#6
rstlne Senior Member Join Date: Jan 2008 Location: New Jersey Posts: 369 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (115)	Apropos to this discussion, a while ago, I read The Number, a book addressing the topic of retirement goals: Lee Eisenberg - The Number - A Completely Different Way to Think About the Rest of Your Life The book raises the questions of how much in savings you need to retire and whether it might be better to reconsider retirement as a process of downshifting instead. I found it quite fascinating and it informed my thinking that I may not have to wait until I'm 67 before beginning the downshifting / lifestyle-change process.

01-25-2008, 06:56 PM	#8
Will Administrator Join Date: Jan 2007 Posts: 381 Thanks: 2 Thanked 3 Times in 3 Posts Reputation: (23)	I am 33, so 35 is really not THAT far ahead of me. I have a lot of "greatest all-time UNC team vs. greatest all-time UCLA team" discussions with my friends. That's why I know and appreciate some of the legends of college basketball.

01-25-2008, 07:19 PM	#9
Jackie Arlen Junior Member Join Date: Jan 2008 Location: Ontario, Canada Posts: 3 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	Gosh this thread makes me feel really old. I've passed 35 and am nowhere near being independently wealthy. We had an internet business which wasn't our pot of gold, we were a definitely a dot bomb and are finally, after years of hard work, getting out from it this year. That said, it's definitely been a journey!