Early retirement

[niknah]

I retired from full time work about 9 months ago(32), but I've still got various casual type jobs that only take a few hours a week.


Pros...
* Got alot of time to do things like get fit, move my moneys out of funds and invest directly, etc.
* More fussy about my employers, I got offered a job recently in the US and it would have been the highest paying job I ever had but I tried it out and decided the boss was silly and didn't continue with it even though they were happy with me.

Cons...
* Lost my purpose in life, it used to be make lots of moneys but now I'm just wondering around aimlessly.
* Becoming more of a slacker.

 

[Julia]

And now you have us!!---Perfect.

Yep, my cup truly runneth over!

 

[piggybank]

WASHINGTON (AP) -- A global retirement crisis is bearing down on workers of all ages.

Spawned years before the Great Recession and the financial meltdown in 2008, the crisis was significantly worsened by those twin traumas. It will play out for decades, and its consequences will be far-reaching. Many people will be forced to work well past the traditional retirement age of 65 - to 70 or even longer. Living standards will fall, and poverty rates will rise for the elderly in wealthy countries that built safety nets for seniors after World War II. In developing countries, people's rising expectations will be frustrated if governments can't afford retirement systems to replace the tradition of children caring for aging parents.

The problems are emerging as the generation born after World War II moves into retirement. "The first wave of under-prepared workers is going to try to go into retirement and will find they can't afford to do so," says Norman Dreger, a retirement specialist in Frankfurt, Germany, who works for Mercer, a global consulting firm.

The crisis is a convergence of three factors:

— Countries are slashing retirement benefits and raising the age to start collecting them. These countries are awash in debt after overspending last decade and racking up enormous deficits since the recession. Now, they face a demographics disaster as retirees live longer and falling birth rates mean there will be fewer workers to support them.

— Companies have eliminated traditional pension plans that cost employees nothing and guaranteed them a monthly check in retirement.

— Individuals spent freely and failed to save before the recession, and they saw much of their wealth disappear once it hit.

Those factors have been documented individually. What is less appreciated is their combined ferocity and their global scope. "Most countries are not ready to meet what is sure to be one of the defining challenges of the 21st century," the Center for Strategic and International Studies, a Washington think tank, concluded in a report this fall. Mikio Fukushima, who is 52 and lives in Tokyo, is typical of those facing an uncertain retirement. Fukushima, who works in private investment, worries that he might have to move somewhere cheaper, maybe Malaysia, after age 70 to get by comfortably on income from his investments and a public pension of just $10,000 a year. If he stayed in Japan, he says, "We wouldn't be able to travel at all". People like Fukushima who are fretting over their retirement prospects stand in contrast to many who are already retired. Many workers were recipients of generous corporate pensions and government benefits that had yet to be cut.

Jean-Pierre Bigand, 66, retired Sept. 1, in time to enjoy all the perks of a retirement system in France that's now in peril. Bigand lives in the countryside outside the city of Rouen in Normandy. He has a second home in Provence. He's just taken a vacation on Oleron island off the Atlantic Coast and is planning a five-week trip to Guadeloupe. "Travel is our biggest expense," he says. In Rochester, Minn., Elaine Case, 58, and her husband, Bill Wiktor, 61, both retired at 56 after three-decade careers at IBM. They have company pensions and will receive Social Security in a few years. They love to travel. Wiktor climbed Mount Kilimanjaro last year. They've taken a trans-Atlantic cruise and plan next year to hike Peru's Inca trail. "We're both enjoying our second lives immensely and with gratitude," Case says.

A BRIEF GOLDEN AGE
The notion of extended, leisurely retirements, like the ones Bigand, Case and Wiktor are enjoying, is relatively new. German Chancellor Otto von Bismarck established the world's first state pension system in 1889. The United States introduced Social Security in 1935. In the prosperous years after World War II, governments in rich countries expanded their pension systems. In addition, companies began to offer pensions that paid employees a guaranteed amount each month in retirement — so-called defined-benefit pensions. It got even better in the 1980s. Many countries began to coax older employees out of the workforce to make way for the young. They did so by reducing the age employees became eligible for full government pension benefits. The age fell from 64.3 years in 1949 to 62.4 years in 1999 in the relatively wealthy countries that belong to the Organization for Economic Cooperation and Development. That created a new, and perhaps unrealistic, "concept of retirement as an extended period of leisure, " Mercer consultant Dreger says. "You'd take long vacations. That was the Golden Age". Then came the 21st century.

UNDER SIEGE
As the 2000s dawned, governments (and companies) looked at actuarial tables and birth rates and decided they couldn't afford the pensions they'd promised. People were living longer: The average man in 30 countries the OECD surveyed will live 19 years after retirement. That's up from 13 years in 1958, when many countries were devising their generous pension plans. The OECD says the average retirement age would have to reach 66 or 67, from 63 now, to "maintain control of the cost of pensions" from longer lifespans. Compounding the problem is that birth rates are falling just as the bulge of people born in developed countries after World War II retires. Populations are aging rapidly as a result. The higher the percentage of older people, the harder it is for a country to finance its pension system because relatively fewer younger workers are paying taxes. In China, the 65-and-older population will rise from 11 percent of the working-age population in 2010 to 42 percent in 2050. In the United States, this old-age dependency ratio will rise from 20 percent to 35 percent. In response, governments are raising retirement ages and slashing benefits. In 30 OECD countries, the average age at which men can collect full retirement benefits will rise to 64.6 in 2050, from 62.9 in 2010; for women, it will rise from 61.8 to 64.4. Italy is raising the age from 59 to 65. In the wealthy countries it studied, the OECD found that the pension reforms of the 2000s will cut retirement benefits by an average 20 percent.

Even France, where government pensions have long been generous, has begun modest reforms to reduce costs. France has raised the number of years people must work before they can receive a full pension from 41.5 to 43. More changes are likely coming. "France is a retirees' paradise now," says Richard Jackson, senior fellow at the Center for Strategic and International Studies. "You're not going to want to retire there in 20 to 25 years". The fate of government pensions is important because they are the cornerstone of retirement income. Across the 34-country OECD, governments provide 59 percent of retiree income, on average. The government's share ranges as high as 86 percent in Hungary. In the United States, the world's largest economy, it's about 38 percent. If rich countries don't cut pension costs even more, says Standard & Poor's, a credit-rating agency, their government debt will more than triple as a percentage of annual economic output by 2050. The debt of most countries would drop to what is commonly called junk status.

Many of those facing a financial squeeze in retirement can look to themselves for part of the blame. They spent many years before the Great Recession borrowing and spending instead of setting money aside for old age. In the U.S., households took on an additional $5.4 trillion in debt (an increase of 75 percent) from the start of 2003 until mid-2008, according to the Federal Reserve Bank of New York. The savings rate fell from nearly 13 percent of after-tax income in the early 1980's to 2 percent in 2005.

The National Institute on Retirement Security estimates that Americans are at least $6.8 trillion short of what they need to have saved for a comfortable retirement. For those 55 to 64, the shortfall comes to $113,000 per household. "People are going to be shocked at how little they have," says Alicia Munnell, director of Boston College's Center for Retirement Research. "For some middle-income people, it will mean canceling the RV" — the recreational vehicle that has become a symbol of retiree life in America. For those worse off, she says, it could mean an old age in poverty.

THE FINANCIAL CRISIS MAKES THINGS WORSE
As if demographics weren't burden enough, the outlook became worse when the global banking system went into a panic in 2008 and tipped the world into the worst recession since the 1930s. Government budget deficits (the gap between what governments spend each year and what they collect in taxes) swelled in Europe and the United States. Tax revenue shrank, and governments pumped money into rescuing their banks and financing unemployment benefits and other welfare programs. That escalated pressure on governments to reduce spending on pensions or raise revenue. Hungary took one of the most draconian steps: It demanded that its citizens surrender their private retirement accounts to the government or give up their government pensions. Poland seized a portion of private retirement accounts. Ireland imposed an annual tax on retirement accounts. The Great Recession threw tens of millions of people out of work worldwide. For many who kept their jobs, pay has stagnated the past five years, even as living costs have risen, making it tougher to save for retirement. In addition, government retirement benefits are based on lifetime earnings, and they'll now be lower. The Urban Institute, a think tank in Washington, estimates that lost wages and pay raises will shrink the typical American worker's income at age 70 by 4 percent - an average of $2,300 a year. Leslie Lynch, 52, of Glastonbury, Conn., had $30,000 in her 401(k) retirement account when she lost her $65,000-a-year job last year at an insurance company. She'd worked there 28 years. She has depleted her retirement savings trying to stay afloat. "I don't believe that I will ever retire now" she says. She also worries about her children, all in their 20s: "I don't think my three sons will ever retire" because pay raises have been so weak for so long.

Less money from a government pension isn't the only factor weighing on future retirees. When the financial crisis struck five years ago, the world's central banks cut interest rates to record lows to stop the economic free-fall. That also punished people with much of their money in investments that pay interest. "The low-interest rate environment has been brutal," says Catherine Collinson, president of the Transamerica Center for Retirement Studies. She points out that $500,000 in savings would yield $25,000 a year at an interest rate of 5 percent, just $2,500 at 0.5 percent. The crisis also frightened many away from the stock market. Stocks can be riskier than other investments, but they yield more long term. Many investors have shunned stocks while the world's stock markets have soared. In the United States, the Dow Jones industrial average has risen nearly 150 percent since March 2009. Japan's Nikkei index is up 56 percent just this year. The past five years have been so tumultuous that some people have been reluctant to invest at all. Olivia Mitchell, who studies retirement at the University of Pennsylvania's Wharton School, says her grown daughters rebuffed her when she urged them to save more for retirement. Stocks, they said, are too risky. And bonds don't yield enough interest to be worth the bother.

THE ASIA CHALLENGE
In Asia, workers are facing a different retirement worry, a by product of their astonishing economic growth. Traditionally, Chinese and Koreans could expect their grown children to care for them as they aged. But newly prosperous young people increasingly want to live on their own. They also are more likely to move to distant cities to take jobs, leaving parents behind. Countries like China and South Korea are at an "awkward" stage, says Jackson at the Center for Strategic and International Studies: The old ways are vanishing, but new systems of caring for the aged aren't yet in place. Yoo Tae-we, 47, a South Korean manager at a trading company that imports semiconductor components, doesn't expect his son to support him as he and his siblings did their parents. "We have to prepare for our own futures rather than depending on our children" he says. South Korean public pensions pay an average of just $744 a month. South Korea has the rich world's highest poverty rate for the elderly. It has one of the world's highest suicide rates for the aged, too. China, too, will struggle to finance retirement. China pays generous pensions to civil servants and to urban workers who toiled in inefficient state-owned factories. These workers can retire early with full benefits - at 60 for men and 50 or 55 for women, depending on their job. Their pensions will prove to be a burden as China ages and each retiree is supported by contributions from fewer workers. The elderly are rapidly becoming a bigger share of China's population because of a policy begun in 1979 and only recently relaxed that limited couples to one child. The World Bank says the cost of those pensions could eventually reach twice the size of China's annual gross domestic product. That would put the bill at more than $16 trillion. China is considering raising its retirement ages. But the government would likely meet resistance. "I heard that the authorities might postpone the age of the retirement, but I sure hope not, since I've already worked for almost 42 years," says Dong Linhua, 59, a former Shanghai factory worker and now a real estate investor, who owns three apartments and two small shop spaces. China also tightly regulates investing, limiting access to assets that are more likely to generate the returns workers need to build a healthy retirement account. "Things that you and I take for granted, like being able to invest in mutual funds or being able to buy stocks and bonds, are in their infancy in China," says Josef Pilger, leader of Ernst & Young's Asia-Pacific pension practice in Sydney, Australia. "The biggest fear the Chinese regulators have is: What if we relax investment restrictions and we have a financial crisis? People will be on the street, saying: 'You let me play with fire, and I burned my fingers".

THE END OF TRADITIONAL PENSIONS
Governments aren't alone in cutting pensions. Corporations are, too. The traditional defined-benefit pensions they long had provided are vanishing. Companies don't want to bear the risks and costs of guaranteeing employees' pensions. They've moved instead to so-called defined-contribution plans, such as 401(k)s in the U.S., which shift responsibility for retirement savings to employees. The problem with these plans is that people have proved terrible at taking advantage of and managing them. They don't always enroll. They don't contribute enough. They dip into the accounts when they need money. They also make bad investment choices; often buying stocks when times are good and share prices are high and bailing when prices are low. Investment returns from defined contribution plans are typically 0.76 percentage points lower than returns on defined-benefit plans, according to the consulting firm Towers Watson. That difference adds up: At a 5 percent annual return, $100,000 becomes $432,000 after 30 years. At 5.76 percent, it's 24 percent higher - $537,000. Many have raided their retirement accounts to pay bills. In the United States, 26 percent of workers with 401(k) and other defined-contribution plans take loans or make hardship withdrawals before they reach retirement, according to a study by HelloWallet, which offers online services that help people with their finances. Working Americans withdraw $70 billion annually from retirement accounts - an amount that's 40 percent of the $175 billion put in. Employers add an additional $118 billion. Retirement specialist Teresa Ghilarducci of the New School for Social Research in New York says the voluntary plans "work for a robot with an Excel spreadsheet," not for people trying to pay bills and care for children who aren't thinking decades ahead to retirement.


NUDGING WORKERS TO SAVE
Several countries are trying to force (or nudge) workers to save more for retirement. Australia went the furthest, the soonest. It passed a law in 1993 that makes retirement savings mandatory. Employers must contribute the equivalent of 9.25 percent of workers' wages to 401(k)-style retirement accounts. (The required contributions will rise to 12 percent by 2020.) Australians can't withdraw money in their accounts before retirement. When politicians were debating the plan, only about half of Australians supported it. Within six months, approval rose to 85 percent. The difference: Workers started receiving statements that showed retirement savings piling up, says Nick Sherry, who helped design the program as a cabinet minister. In October 2012, Britain required employers to start automatically enrolling most employees in a pension plan. At the start, contributions must equal at least 2 percent of earnings, half provided by employers. By 2018, contributions must rise to 8 percent, of which 3 percentage points will come from employers. In 2006, the United States encouraged companies to require employees to opt out of a 401(k) instead of choosing to opt in. That means they start saving for retirement automatically if they make no decision.

EASING THE PAIN
Rebounding stock prices around the world and a slow rise in housing prices are helping households recover their net worth. In the U.S., retirement accounts (defined-contribution and defined-benefit plans combined) hit a record $12.5 trillion the first three months of 2013, according to the Urban Institute. They've gone higher since. However, net worth is merely climbing toward a level considered inadequate at its peak in 2007. Boston College's Center for Retirement Research says the recovery in housing and stock prices still leaves 50 percent of American households at risk of being unable to maintain their standard of living in retirement. That's down from 53 percent in 2010 but up from 44 percent before the Great Recession hit in 2007.

Only half of all Japanese say they've even thought about how to finance their retirement. And 63 percent are counting on getting most of their income from a government pension system that's going broke. When they look into the future, retirement experts see more changes in government pensions and longer careers than many workers had expected:

— Pension cuts are likely to hit most retirees but should fall hardest on the wealthy. Governments are likely to spend more on the poorest among the elderly, as well as the oldest, who will be in danger of outliving their savings.

— Those planning to work past 65 can take some comfort knowing they'll be healthier, overall, than older workers in years past. They'll also be doing jobs that aren't as physically demanding. In addition, life expectancy at 65 now stretches well into the 80s for people in the 34 OECD countries, an increase of about five years since the late 1950s.

"My parents retired during the Golden Age of retirement" says Mercer consultant Dreger, 37. "My dad, who is 72, retired at 57. That's not going to happen to somebody in my generation".

 

[pavilion103]

Good thread.

I guess it is an individual thing.

I have no desire to work full time past the point that I am able to stop working full time. Zero. Zilch. Nothing!!

I work a job now out of necessity. Reasonable work. Property valuer. As far as a job goes, I couldn't ask for much better. But I wouldn't be doing it if I didn't have to.
I could not work a job simply because I miss the social aspect.
I could not work a job simply because I have to do "something stimulating"
That's just me.

I am likely going to ask if I can go 4 days a week for next year. I will spend that extra day working on trading etc.
If I am making good money from trading, I will leave work (with the door open to return if need be). No risk.

I will devote many more hours to developing my trading, to the point that I can truly be financially free from it.


Stimulating work - Trading. Other projects. Maybe visiting similar places to India and helping for longer periods of time and offering financial support (to some degree).
Social interaction - Particularly through my church, I have many people around my age who I am friends with (I am very socially proactive), whose company I enjoy and could catch up for lunch/dinner with at any time. Someone is always free!


Bottom line. I want to be devoting my time to the stimulating things that I REALLY want to be doing. Things that absolutely drive me with a passion! The 80/20 activities too (not a 9-5 job).

This type of arrangement is not for everyone, but it is for me.

3 years ago I started working on a 5 year trading plan.
I've finished 3 years and have 2 years left.
The original goal was to be out of employment by the 5th year.
I believe this to be achievable with dedicated commitment in the next 24 months.

I feel privilidged and excited to be in the position to even contemplate this!!!

 

[CanOz]

I really wish to some extent that i was in your situation Pav, good on ya for taking charge of your future so early on.

Curious as to your views on property....? You don't talk much about this.

Also, would love to have your thoughts on your trip to India some time.

 

[pavilion103]

I really wish to some extent that i was in your situation Pav, good on ya for taking charge of your future so early on.

Curious as to your views on property....? You don't talk much about this.

Also, would love to have your thoughts on your trip to India some time.

CanOz. I do it all with a humble spirit. I'm no big swining dick. I'm no wannabe "hot shot". I'm just me. I just know what I want an am working towards making it happen. I don't want many many millions. I don't want a big house. I don't want a fast car. I want freedom. I want to be able to do what gets me excited every day! I want to live with passion! And when I get there it won't have been all me, that's for sure. The people on here are great. Tech has been IMMENSE. And then people like yourself have also helped greatly.

Property.
I owned 3 very cheap ones previously.
Sold all three a few years back due to the state of the market. Made a little.
Without going into great detail I look at property like this: I see the upside as very limited at present. I see the downside as potentially large if worst comes to worst. Therfore, I see the risk involved hefty with this above RR equation.
Why risk hundreds of thousands in these conditions?
My investing philosophy centres around cash flow. I'd be struggling to get that in property.
Yields are small. Growth potential is small.
BUT if there is a crash, or a long flat period (where properties decline in real terms) then I will jump back in when I feel the potential returns are worth it.
I love property. It's just a shame that conditions aren't favourable. One day they will be again.

India. Might be worth me starting a small thread with a few photos and thoughts. It was interesting, even from the non-Christian point of view. Eye-opening experiences, good friends with me through the church, great food! Long days! 2 of the best weeks of my life!

 

[CanOz]

I share the same view on life as you and many others in that i just want to really live, enjoying every minute. Life is too short not to be happy as much as possible ...Financially i would like to be in a position where we had enough to so we could adopt a few kids and start an animal shelter somewhere.

Looking forward to your India thread Pav...i have a few questions when you get it going.

On the subject of retirement, lets not forget to live along the way....

From another forum...thought it was relevant and something to keep in mind as we get scared into working our guts out for retirement....

The top 5 regrets people make on their deathbed

Compiled by a nurse who for many years worked in palliative care, her patients were those who had gone home to die. People grow a lot when they are faced with their own mortality. When questioned about any regrets they had or anything they would do differently, common themes surfaced again and again. Here are the most common five:


1. I wish I’d had the courage to live a life true to myself, not the life others expected of me.
This was the most common regret of all. When people realize that their life is almost over and look back clearly on it, it is easy to see how many dreams have gone unfulfilled. Most people had not honored even a half of their dreams and had to die knowing that it was due to choices they had made, or not made.

2. I wish I didn’t work so hard.
This came from every male patient she nursed. They missed their children’s youth and their partner’s companionship. Women also spoke of this regret. But as most were from an older generation, many of the female patients had not been breadwinners. All of the men deeply regretted spending so much of their lives on the treadmill of a work existence.

3. I wish I’d had the courage to express my feelings.
Many people suppressed their feelings in order to keep peace with others. As a result, they settled for a mediocre existence and never became who they were truly capable of becoming. Many developed illnesses relating to the bitterness and resentment they carried as a result.

4. I wish I had stayed in touch with my friends.
Often they would not truly realize the full benefits of old friends until their dying weeks and it was not always possible to track them down. Many had become so caught up in their own lives that they had let golden friendships slip by over the years. There were many deep regrets about not giving friendships the time and effort that they deserved. Everyone misses their friends when they are dying.

5. I wish that I had let myself be happier.
This is a surprisingly common one. Many did not realise until the end that happiness is a choice. They had stayed stuck in old patterns and habits. The so-called ‘comfort’ of familiarity overflowed into their emotions, as well as their physical lives. Fear of change had them pretending to others, and to their selves, that they were content. When deep within, they longed to laugh properly and have silliness in their life again. When you are on your deathbed, what others think of you is a long way from your mind. How wonderful to be able to let go and smile again, long before you are dying.


Life is a choice. It is YOUR life. Choose consciously, choose wisely, choose honestly. Choose happiness.

 

[sydboy007]

I'm very much hoping I'm working my last IT job. If things go well over the next 3-5 years I should be in a position to wait for the straw that breaks the camels' back moment and just hand my 4 weeks notice in. Will be a nice feeling.

What to do with the free time. I do love to read, and quite often find I don't have enough time to watch the interesting documentaries I tend to collect for my dad and gran.

I'd also be happy to do some free English teaching in Asia. Education is the best path out of poverty and I'll say that there is nothing more rewarding than seeing that AH HA moment in someone's eyes as they finally understand.

I wouldn't mind getting some financial qualifications too and help spread the understanding of investment choices out there. When I talk to people at work I'm quite shocked at the lack of knowledge, even to not knowing how much they have in super.

Maybe I have my rose tinted glasses on, but I do look forward to a time when I don't work for a living.

 

[Bill M]

I retired early and it was the best decision I ever made. Somebody mentioned when is early? I did it in my 40's but anytime before 55 is early. I say 55 because that is collection time for Super and a good saver could do that easily with a big super account.

Do I miss work? Never, never did although I went back to work part time for a short time during the GFC. At that time we all thought the world was going to collapse to something like The Great Depression so I thought I better cover my ar$e and go back to work. Anyhow, 2 years of that was enough for me and I pulled the plug again for the dozenth time and went back to being fully retired.

I worked very hard in my earlier days(2 jobs) and so did my wife. We invested in real estate and shares, eventually it paid off and I could see that we had enough passive income to retire, i.e. spend less than you earn.

What will you do?.....Has got to be the dumbest question ever but it must be asked I guess. My love and passion is travelling overseas, I can spend up to 6 Months living overseas a year. It breaks the boredom of Australia and Australia can be a very boring country especially if you are not into football and cricket. So I travel and meet many many new people from other cultures and love it. Before anyone asks, yes I have been around every state and territory of Australia many times, it's not enough for us.

Health is very important so I make sure I do at least one hour a day of exercise no matter where I am. I have walked the streets of Singapore, Italy, London, Bangkok and many more for excersice. Just whack on the joggers and off I go, sometimes with and sometimes without the wife. I am not afraid to go into any coffee shop anywhere in the world even if I can not speak the language. It is good fun, it is a great experience and as long as these legs of mine can do it I will keep on doing it.

I ride trail bikes and normal motorbikes too, there is nothing like cruising in the Countryside of Thailand for example or the island of Corfu. Para-sailing in Greece was fun too. Then I come back to good old OZ and some drone says "what do you do with your spare time"? I'm polite so I just say, "too many things and so little time". They give me a quick laugh then they talk about cricket, football or politics again.

Then as winter gets near again I drop the hint that we are off again and the "how do you do it brigade pipe up again".

It is so great being retired, we can go anywhere anytime we like but lets not kid ourselves you got to get your finacial house in order....>for the rest of your life<. Work, Save, Plan, Invest well, Live the fruits of your labour and yes anyone can do it, it's a great life, enjoy it while you can.

 

[Garpal Gumnut]

Good one Bill.

I prefer meself to work and travel.

Good on you, though.

gg

 

[Bill M]

Good one Bill.

I prefer meself to work and travel.

Good on you, though.

gg

Thanks GG, forgot to mention, when in OZ I love to sit outside, drink an ice cold VB (yeah yeah poison gut to some) and just watch the exotic parrots, lorikeets and other native birds devourer my grevilla's. Darn good nature watching that.

 

[DB008]

I retired from full time work about 9 months ago(32), but I've still got various casual type jobs that only take a few hours a week.


Pros...
* Got alot of time to do things like get fit, move my moneys out of funds and invest directly, etc.
* More fussy about my employers, I got offered a job recently in the US and it would have been the highest paying job I ever had but I tried it out and decided the boss was silly and didn't continue with it even though they were happy with me.

Cons...
* Lost my purpose in life, it used to be make lots of moneys but now I'm just wondering around aimlessly.
* Becoming more of a slacker.

Well done!

 

[medicowallet]

Stopped working for quite a few years
Got bored
Went back because I realise that I really enjoy helping people, and the way I can make a real difference is by doing what I do
Will I ever fully retire now? Not unless it is unsafe for me to work.

MW
I love my job.

 

[VSntchr]

Half way through 2013 I made a very clear decision that I would do whatever it takes to RETIRE ASAP from whatever I feel is something that I do not enjoy doing.

Many people have expressed their feelings against this idea, either directly or indirectly through their obvious attitude, while a select few have been very supportive and I can't thank them enough.

While I see the point of some that believe you have to do things you don't like to make it, I prefer to work REALLY hard at things I really love. Rather than working half arsed at something I have moral issues with and just plain don't want to do!

I expect the next few years to be quite challenging, but I've gone from being miserable each day...to looking forward to waking up every night that I go to bed because I LOVE what I do now.
A lot of people bash university, but I think it was great. Like investing, university taught me the value of investing in myself. I am currently in a period of investing in myself and I believe that working hard and maintaining the motivation will see my reap the rewards over a longer time-frame.

Long story short. Retiring ASAP but will never stop working at what I enjoy!

 

[pavilion103]

I like that post. Work really hard at what you love, not half arsed at something else.

My desire to retire from full time work early has always been there but has ebbed and flowed a little.
In 2010 when I was at a top commercial property firm, I was sitting there thinking; this is good, but why the heck would I want to work long days and hours to work my way up to director? I enjoyed my job for about 6-9 months and then I began to resent it badly. It became so bad for me. I looked around and saw people playing a game that I didn't want to be part of. This desperation forced me to draw a line in the sand and DECIDE in that moment that I would be free of this within 5 years, no matter what it takes.

I left that job shortly after anyway. I moved into a job (current) still in property, with a diverse range of work, but much more laid back in terms of work environment and flexibly hours and almost compelte autonomy. This made me so much more relaxed. It also gave me ample time to work on trading (I can finish at 4pm each day). I became a new person. No more work stress and good time to focus on trading.

Recently, with some success in the futures market, I have become a little agitated again. I am actually sitting here right now (no holidays). I think of a futures trade last night that had $1,000 there for the taking in a few hours and am wondering why I'm here earning a few hundred dollars for 8 hours with 6 people in my office over the NY period.
The most stupid thing is that I'm a bloody good employee here and if work hours were based on completing my work (not having to sit in a chair for 8 hours), I'd be at home right now because I'm so far ahead!!! It's really stupid.

2010 was motivation boost number 1.
I think this is now motivation boost number 2.
As, I said in a previous post I will attempt to cut back to 4 days a week in 2014 (wish me luck) and that will at least give me some relief and more time to focus on what I really enjoy.


I wonder what I am doing here.
But the answer is obvious.
I haven't earnt enough, consistently through trading yet to leave.

Grateful for this job. It's heaven compared to the last one.
Just don't want to be here longer than I have to!

 

[McLovin]

While I see the point of some that believe you have to do things you don't like to make it, I prefer to work REALLY hard at things I really love. Rather than working half arsed at something I have moral issues with and just plain don't want to do!

You gotta do what you love, that's what retirement should be (ideally that's what work should be too). I had two grandfathers, one retired at 65 and basically spent the rest of his days getting up at 11am and watching a lot of TV, was bored out of his brain but too lazy to fix it. The other retired when he was 90, used to walk across the Harbour Bridge every morning until he was 89 and his hip went and was still pretty regular on the social lunch scene until the last few years when his health deteriated. He died at 93. I'd rather use the latter as an example. If you stop exercising the mind it will soon rust up along with the rest of your body.

 

[CanOz]

The most stupid thing is that I'm a bloody good employee here and if work hours were based on completing my work (not having to sit in a chair for 8 hours), I'd be at home right now because I'm so far ahead!!! It's really stupid.

I've not had that experience in a job for at least 18 years...to actually be completely caught up. Is there anyway you can take on more Pav? At least it would keep you busy.

 

[pavilion103]

I've not had that experience in a job for at least 18 years...to actually be completely caught up. Is there anyway you can take on more Pav? At least it would keep you busy.

I actually frequently go into the office of my boss and ask for more. More than happy to help out where needed. Much better than sitting around with nothing to do. But there are still periods.

 

[pavilion103]

Last week I requested and was granted a change to 4 days a week work (with the option to go back to full time any time I choose). I have Wednesday off every week now to break up the week.

The amount of relief and freedom that I already feel is amazing. This will give me more time to focus on some if the things that I really want to spend time on.

I won't have any real difficulty replacing this day's pay with my trading income. The original purpose of trading for me was lifestyle and freedom. I'm glad that I've achieved this first small step

 

[So_Cynical]

As of yesterday i have moved into semi retirement, if you can call 9 months on and 3 months off, semi retirement...and it all came about as a bit of a surprise even though i have been working and planning for it for the last 2 years.

It was sort of forced on me and amazingly the timing and circumstances were something to behold.