I think I could retire...

[Luv2Travel]

...if I had the money!

I hear all the time, people saying they could never retire fully as they'd be bored.

After a very full on year with hardly any holidays, I got to the end of the year worn out and unmotivated. I now have two weeks off, and was wondering what I would do during them... and I must say it's bloody fantastic!!!

One week has gone, and whilst I've done nothing special, I haven't been sitting on the couch watching TV bored either. Have caught up with family (as normal with Christmas), gone for a drive down the Great Ocean Road, read a book, gone for walks, will see a movie or two, catch up with friends, take my niece and nephew out for the day and more.

If I was retired and money wasn't an issue, I'd read more, learn a language, travel the world, play tennis more, take up violin again, learn piano, get up when my body says it's ready to get up not when the alarm tells me to at 6am each morning, would love to do some volunteer work helping animals, fly myself around Australia... and that's just to name a few things.

How on earth can people say they wouldn't know what to do if they retired? I say bring on financial freedom and retirement!!!

 

[Ausprop]

the main reason it is over rated is because everyone else stil observes the working week. people head off to work for a little while and you find that socialising still take splace around weekends and xmas etc, the main diff is the other people collect $100k-200k for the hours that you sit around having lunch in and achieving very little off of a list of daydreams. Then you think, gees i could go to work and blow every cent of my salary on extravagances and my available time probably wouldnt change much

 

[bluestorm]

You've had 1 week off in a year. It's not really a comparison to 30+yrs of retirement (if your lucky). Most of the things you listed, you can already do without retirement, you just need to adjust your priorities in life.

But yeah, I'm planning of finding out in 7yrs (at 42) - "retiring" from full-time work (that will mean 1/2 my life in retirement ). But really still doing stuff on the side (little day-trading, little passive website income, travel, sailing).

How much money do you need? I figure $2mil in assets, with $100K in passive income coming in.

The problem is that as people earn more, their expectations rise, so they keep working till 55-60 to keep up with ever increasing retirement expectations. I say, when you reach a comfortable level.
Worst case in Australia, then you can go live like a king in Thailand, etc. Everything is global now. You can run website, trade from anywhere in the world.

2420 days to go, and counting , and officially retired.

 

[bluestorm]

the main reason it is over rated is because everyone else stil observes the working week. people head off to work for a little while and you find that socialising still take splace around weekends and xmas etc, the main diff is the other people collect $100k-200k for the hours that you sit around having lunch in and achieving very little off of a list of daydreams. Then you think, gees i could go to work and blow every cent of my salary on extravagances and my available time probably wouldnt change much

All the remaining plodders observe the work week, because they still need to. There is nothing stopping you in forming some other networks as well as your old ones of people who are "made", like yourself, to do things on weekdays, while the plodders are busy.
I find it sad thinking someone works 40-50yrs of their life, retires at 65, and dies at 75, just so they can earn more, and drive the Merc in retirement to show how "successful" they were in life.

 

[weg]

Biggles, I think you would appreciate that 1st week off a whole lot more than if it was your 50th, especially after a busy, work filled year.

I always have around 3 months off per year, broken up so that I usually only have 1 month off at a time.

Not including one period where I had 3 months off to do a full house reno, I once had 3 months off thinking it would be wonderfully relaxing only to find I slowly lost my motivation and the thrill of having time off.

Work gives you structure and a commitment to a cause (money perhaps ) which is why a lot of retired people find themselves doing work of sorts after a time.

Perhaps you should try to get more time off work. That way you achieve a better balance and may even enjoy your job.

 

[redwing]

Have had the last few days off since the 23rd DECEMBER 2010, dropped into the Office to download emails to OUTLOOK (#**#@!! 100mb limit) and respond to crucial issues and put together data for end of month reports

Days that I have dropped into the Office have only been the 29th & 30th (4 hrs one day and 5.5hrs the next) after that I've been into the gym (feeling great for it) and had "quality" Family time with the kids

I have to say highlights over the break (for me) was taking all the family out for lunch, getting the 3 yr old to have the confidence to ride a bike (not up to peddling yet) flying a kite with the 6 yr old and helping the 11 yr old put together a family movie with various outakes..he was more wrapt with jailbreaking his iPOD

The "push" bike is something like the below, wherein you add the pedals when the kids get confidence...worked great for the now six year old

 

[Luv2Travel]

You've had 1 week off in a year. It's not really a comparison to 30+yrs of retirement (if your lucky).

Guess it also depends how much you like your job. At the moment, I'm going through a "I'm over it phase", so would love to see the end of it. If I ever make my dream job, then sure, I'd be happy to "work" until I'm 60.

How much money do you need? I figure $2mil in assets, with $100K in passive income coming in.

I'm thinking as a single person about $50-$60K a year, if I'm married when I retire then probably closer to $100K, but he can bring his own assets to the party, so I'm just working on single person figures for my own goals.

2420 days to go, and counting , and officially retired.

I don't have an end date in my plans yet, I have no idea. In fact I have no idea about a lot of things at the moment, everything is confusing me, except for the fact that I'd like to be retired.

 

[bluestorm]

Guess it also depends how much you like your job. At the moment, I'm going through a "I'm over it phase", so would love to see the end of it. If I ever make my dream job, then sure, I'd be happy to "work" until I'm 60.

We'll for me it's easy. Work in IT, so just work on "my" website project in retirement, instead of someone else's projects. Just do my day-trading in "my time" instead of office time . (I do love it. You can look so busy "working", checking how the stock are going all day). (but seriously 4hrs of really productive work and you can get most work finished - still need to get payed ). So really, retirement just takes me out of the office, but your still active, and without the hassle of working with some real idiots. Tell you what, you come across some ditsy "Business Analysts".

I don't have an end date in my plans yet, I have no idea. In fact I have no idea about a lot of things at the moment, everything is confusing me, except for the fact that I'd like to be retired.

Figured roughly 7yrs left needed, any it's on 10yr wedding anniversary, which seems a good a time as any, and a nice goals to achieve together. So roughly 42!

 

[on the move]

Unless you have something to keep you occupied, otherwise 365days/yr 24hrs/day 60min/hr 60 sec/min..... I have one year off, the first couple of months was good then the novelty worn off.

 

[D.T.]

I hear lots of people saying they've retired only to return to work 6-12 months down the track because they're bored. They really need to get a life or find more hobbies.

 

[Indifference]

Unless you have something to keep you occupied, otherwise 365days/yr 24hrs/day 60min/hr 60 sec/min..... I have one year off, the first couple of months was good then the novelty worn off.

IMHO, this is because "we" live to work instead of work to live...

I hear lots of people saying they've retired only to return to work 6-12 months down the track because they're bored. They really need to get a life or find more hobbies.

Exactly.... this is indicative of the live to work crowd. If your life was built around 2-4 weeks " free time " every year for 20-40 yrs, well.... Really, what do people expect it will be like after decades of living to work?

Retirement is a term best reserved ' these types ' ... I prefer the term, financial independence, to describe my own period of careless frolicking in life

 

[bluestorm]

I hear lots of people saying they've retired only to return to work 6-12 months down the track because they're bored. They really need to get a life or find more hobbies.

Boredom is just the "polite" excuse. Some guys may figure work is better than the nagging of the wife 24/7 . At least there is a 9 hour break then.

But Agree. Some people think they retirement will be about just chilling out and not doing anything. Those retirees cark in probably in the first few years.
I think probably what many of us mean by "retirement", is being financially independent enough to be about to leave the day job, but still remaining active on other things, hobbies, volunteering, other types of "work" (day trading).

Sounds like Biggles just needed a holiday, not taking 1 week off in 1 year, and using that as a comparison to retirement.

 

[Highlygeared]

People who love what they do never work a day in their lives. Life's too short and you should pursue what you love doing - I've just left my J-O-B to do just that. Will see how we go but I'm optimistic.

 

[Bargain Hunter]

People who love what they do never work a day in their lives. Life's too short and you should pursue what you love doing - I've just left my J-O-B to do just that. Will see how we go but I'm optimistic.

Congratulations on taking the plunge.

I find that the jobs I like to do don't pay very well. So, I do a job that earns the dollars to invest and become financially independent.

It's not a bad job, but I would prefer to do something similar which utilises my electrical background, or where I use my hands or even one which requires some artistic flare. As it is my job offers me none of this...

What I do hate about my job is the fact that I have to be there during certain hours, that there is something that I want to do on a Monday and my boss is not flexible enough to even allow this once a month, or the fact that I could easily work from home the majority of the time but again this is a no go.

Retirement to me is being financially free to do what I want to do. If I want to have every Monday off then so be it. If I want to log on at Port Macquarie or the Phillipines then great. If I don't want to log on for weeks on end then that is also an option. I may even choose to work knowing that I am there because I want to be not because I have to be.

I'm looking forward to that time in the not too distant future when I can do what I want to do without having to ask the boss first.

Regards

Andrew

 

[marg4000]

Retirement to me is being financially free to do what I want to do. If I want to have every Monday off then so be it. If I want to log on at Port Macquarie or the Phillipines then great. If I don't want to log on for weeks on end then that is also an option. I may even choose to work knowing that I am there because I want to be not because I have to be.

I work 3 days a week in a large school library. I just love my job, and intend to keep going for a few years yet, maybe cutting down to 2 days a week. It's not the money (I would do it for nothing, but don't tell).

The trick is to find something you really enjoy doing.
Marg

 

[Rob Williams]

The trick is to find something you really enjoy doing.

Exactly! If you truly love what you do, then you will never "work" another day in your life.

 

[Luv2Travel]

I think I know what my problem is... women are more mature than men. Men go through their midlife crisis in their 50's, so I'm going through mine earlier.

Here is what I need...

 

[lizzie]

i guess i have been "retired" for the last 10 years ... took a package from work that paid off a slab of the mortgage, renovated a couple of houses, had a baby ...

i am fortunate that hubby works in a job he enjoys, that is well paid, so brings in the weekly income - and has the payslip that the banks love - whilst i bring in the lump sums thru reno's and value adds etc.

i love being able to do what i want, when i want. school events, shopping, chores, lunching, napping, renoing, starting new business etc. i wouldn't want to retire retire until we had enough in assets and cashflow to "do" whatever we want - weekend in paris anyone?

although - i fear it will drive me nuts when hubby pulls stumps. he's one week into a fortnight off and instead of just "going out" to get some pool chemicals this morning, he wants to know where i'm going and for how long (i don't know how long! i'm going to bunnings for cripes sake - and depends if i drop into the furniture or lighting shop on the way home - just for a look! honest) and i still get the "is it necessary" look.

that's why we need the money to "do" stuff. to just sit at home with him would drive me insane.

 

[coastymike]

If you are male, and I say this for safety reasons more than anything, then either Thailand or the north Phillippinnes Islands, are great places for retirement. Have a number of friends in their 40s retired in both places and most have around $500k nett assets with about $20k coming in from passive investments and all are living a kings life. Maids, drivers, luxury homes, great weather, good shopping, good food. Not really much different than here. People say "but it's a third world country who wants to live there". Well i've been there and all I can say is they are having the time of their lives. Not too bad if you are a single male either. But hey I won't go there.

 

[investor2009]

Great post Biggles.

I too have to agree with you, as I'm on my 10th day of holidays and thought I might get a bit bored but I'm having a great time. I'm finding it so relaxing and feel much better, just been doing things at my own pace.

I'm not too far from being financially independant and I find it so liberating to be able to make the choice wether or not I'd like to go to work or not.
I also like the statement someone else here made about the majority of people having no other option. To them, retirement is simply not a reality, so they have no other choice but to work. I find that most people just do not comprehend not working until retirement age so I've stopped bringing it up in conversation with anyone but those on the forum.