Glebe said:
Ha ha - already seen it and now I know what NOT to do! I never knew this crater even existed before this movie, and now it is definately on my to see list.
Cheers
Nat
Retiring Young
- Thread starter alexlee
- Start date
Ha ha - already seen it and now I know what NOT to do! I never knew this crater even existed before this movie, and now it is definately on my to see list.
Cheers
Nat
Hi Alex,
You've done well lasting so long in London and working in a Bank. Which bank may I ask? I was done after 2 yrs...had enough of the weather and the stress of my job. I worked for RBS in Corporate.
Can I ask...do you love your job? do you mean that you want to absolutely retire? or you want to achieve financial freedom so that you can find a job that you love doing?
If you retire now what are you going to do when you are 50 yo? since moving back to Oz I feel that I'm already sort of living in retirement lifetsyle....it's much more laidback here and really not all that much to do.
I am not looking to be mega rich... I am happy just to have a safety nest in the bank, some Ips, some shares, mortgage free home, no personal loan debts, be able to take an overseas holiday once a year with my family and that my husband and I can make a career out of what we love doing. I've discovered that being a mum is what I love doing most and eventhough I am lucky enough to be able to stay at home full time...I've decided to go back to work part-time so (1) looks better on my resume, don't forget my skills, makes me more employable (2) keep a balance. My husband is undergoing a total career change this year...he gave up a high ranking position to pursue his childhood dream of becoming a teacher.
Even winning the lotto wouldn't change anything. It would just mean that we've reached our goal sooner and what we have left over we would bless our family and friends.
Maybe you should think about what you really love doing? I mean...if you really loved your job then why would you want to retire?
You've done well lasting so long in London and working in a Bank. Which bank may I ask? I was done after 2 yrs...had enough of the weather and the stress of my job. I worked for RBS in Corporate.
Can I ask...do you love your job? do you mean that you want to absolutely retire? or you want to achieve financial freedom so that you can find a job that you love doing?
If you retire now what are you going to do when you are 50 yo? since moving back to Oz I feel that I'm already sort of living in retirement lifetsyle....it's much more laidback here and really not all that much to do.
I am not looking to be mega rich... I am happy just to have a safety nest in the bank, some Ips, some shares, mortgage free home, no personal loan debts, be able to take an overseas holiday once a year with my family and that my husband and I can make a career out of what we love doing. I've discovered that being a mum is what I love doing most and eventhough I am lucky enough to be able to stay at home full time...I've decided to go back to work part-time so (1) looks better on my resume, don't forget my skills, makes me more employable (2) keep a balance. My husband is undergoing a total career change this year...he gave up a high ranking position to pursue his childhood dream of becoming a teacher.
Even winning the lotto wouldn't change anything. It would just mean that we've reached our goal sooner and what we have left over we would bless our family and friends.
Maybe you should think about what you really love doing? I mean...if you really loved your job then why would you want to retire?
What if you die tomorrow?
About two years ago a good friend of mine was nearly killed in a head on car accident - the other driver fell asleep. My friend was in her 20's.
This really got me thinking about my financial goals/retirement etc. Because what if I hold off having a dog, or doing a course, travelling etc until my retirement and I don't make it. Why spend your life doing things you hate - we're only here for a short time and it could end before we're ready.
I'm not saying don't invest but I think it's important to keep balanced and not put simple things off. Fortunately I'm in a job I enjoy. I work part time, have time for my kids, hobbies etc. My hubby is studying so he can get into a job he'll enjoy. Our income has reduced heaps so we won't be retiring early, but do intend to keep investing (smaller amounts)plan to work part time in jobs we enjoy until we drop. We live in a country area so don't need a big income to have a nice lifestyle. Our 2008 goal is to rent out our PPOR and travel around Oz in a caravan with the grey nomads (we'll be working some of the way though)
You don't need a big income (passive or other)to have choices.
Just a different angle and food for thought.
Cheers Fish74 (I notice there's a new fish on the forum)
About two years ago a good friend of mine was nearly killed in a head on car accident - the other driver fell asleep. My friend was in her 20's.
This really got me thinking about my financial goals/retirement etc. Because what if I hold off having a dog, or doing a course, travelling etc until my retirement and I don't make it. Why spend your life doing things you hate - we're only here for a short time and it could end before we're ready.
I'm not saying don't invest but I think it's important to keep balanced and not put simple things off. Fortunately I'm in a job I enjoy. I work part time, have time for my kids, hobbies etc. My hubby is studying so he can get into a job he'll enjoy. Our income has reduced heaps so we won't be retiring early, but do intend to keep investing (smaller amounts)plan to work part time in jobs we enjoy until we drop. We live in a country area so don't need a big income to have a nice lifestyle. Our 2008 goal is to rent out our PPOR and travel around Oz in a caravan with the grey nomads (we'll be working some of the way though
)You don't need a big income (passive or other)to have choices.
Just a different angle and food for thought.
Cheers Fish74 (I notice there's a new fish on the forum
)
Interesting topic.. I'm 23 now and aiming for a 40-45 retirement, so it's really hard to say what I'll enjoy when I'm that age as times change, but I know I won't want to be working! I'll probably fill my time with golf, gym, family, kids, more hands on investment ie share trading, small developments and probably some work.. I'm not expecting to have heaps of money, just a paid off PPOR and 60-80k P/A in passive income (I hope!)
Time will tell. I will invest for now and decide when the time comes..
As Alex has said, depending on your friends situations will affect this alot as well. I could have a great time if I had a few friends in a similar position! Golf, long lunches, Pub for some pool, travelling, renovations, development! you name it!
Time will tell. I will invest for now and decide when the time comes..
As Alex has said, depending on your friends situations will affect this alot as well. I could have a great time if I had a few friends in a similar position! Golf, long lunches, Pub for some pool, travelling, renovations, development! you name it!
Well I am at the stage that I have retired. I am now 50. Maybe not young in relation to talking about retiring at 35 -40 but I still feel young
We ran our own business for 12 years which was closed down at the end of Sept 05. So I am only 4 months into retirement. With the business we had 10 employees and also managed our other investments interests. Over the 4 months we have been busy winding up the variuos parts of the business and doing a major reno to our PPOR.
Yet being as busy as we have been, my wife and I do miss the social interaction and possibly power, that managing 10 people on a dailly basis presented and this is the biggest adjustment that I find I am dealing with.
As far as projects are concerned we have about a year and a half of projects planned which may stretch to 2 years tops, depending on the distractions along the way
As far as travel is concerned we have been travelling extensively over the last 6-7 years but generally I am not a keen traveller so don't see this increasing. But then again my wife won't let it decrease either
So my 'retirement' is a work in progress but my wife is already telling people I won't last. We'll see.
Cheers
We ran our own business for 12 years which was closed down at the end of Sept 05. So I am only 4 months into retirement. With the business we had 10 employees and also managed our other investments interests. Over the 4 months we have been busy winding up the variuos parts of the business and doing a major reno to our PPOR.
Yet being as busy as we have been, my wife and I do miss the social interaction and possibly power, that managing 10 people on a dailly basis presented and this is the biggest adjustment that I find I am dealing with.
As far as projects are concerned we have about a year and a half of projects planned which may stretch to 2 years tops, depending on the distractions along the way
As far as travel is concerned we have been travelling extensively over the last 6-7 years but generally I am not a keen traveller so don't see this increasing. But then again my wife won't let it decrease either
So my 'retirement' is a work in progress but my wife is already telling people I won't last.
We'll see.Cheers
Good points Keith.
Right now, I could take a year off and still not catch up !!!
Not to mention the Kids Secondary / Tertiary education gets more expensive around the time I dont want to be working.
Compromise - I'm aiming for maybe some short contracts (INCOME!), renno properties as they become vacant, find those hobbies I was too busy for, dust off the billiard table and improve my game, spend time with the kids etc.
Maybe I'll just do part time - 3 days on, 4 days off sounds good.....
Hmm... need to go hash some numbers.....update goals.....plans......
Bugger - gotta finish current renno first !!!
AARRGHHH - Gotta go...too busy to plan, only enough time to react!
Right now, I could take a year off and still not catch up !!!
Not to mention the Kids Secondary / Tertiary education gets more expensive around the time I dont want to be working.
Compromise - I'm aiming for maybe some short contracts (INCOME!), renno properties as they become vacant, find those hobbies I was too busy for, dust off the billiard table and improve my game, spend time with the kids etc.
Maybe I'll just do part time - 3 days on, 4 days off sounds good.....
Hmm... need to go hash some numbers.....update goals.....plans......
Bugger - gotta finish current renno first !!!
AARRGHHH - Gotta go...too busy to plan, only enough time to react!
fish74 said:About two years ago a good friend of mine was nearly killed in a head on car accident - the other driver fell asleep. My friend was in her 20's.
This really got me thinking about my financial goals/retirement etc. Because what if I hold off having a dog, or doing a course, travelling etc until my retirement and I don't make it. Why spend your life doing things you hate - we're only here for a short time and it could end before we're ready.
I'm not saying don't invest but I think it's important to keep balanced and not put simple things off. Fortunately I'm in a job I enjoy. I work part time, have time for my kids, hobbies etc. My hubby is studying so he can get into a job he'll enjoy. Our income has reduced heaps so we won't be retiring early, but do intend to keep investing (smaller amounts)plan to work part time in jobs we enjoy until we drop. We live in a country area so don't need a big income to have a nice lifestyle. Our 2008 goal is to rent out our PPOR and travel around Oz in a caravan with the grey nomads (we'll be working some of the way though
You don't need a big income (passive or other)to have choices.
Just a different angle and food for thought.
Cheers Fish74 (I notice there's a new fish on the forum
I agree to what you have said , I think their are only so many things you can put of until it starts effect you. Often if we put off thing we want to do until a later stage its just not the same when we get around to doing it. Traveling at a young age is one example, sure you can put it off later till you retire but it wont ever been the same as expirienceing it when your young because your in a different mindset to when you orginally wanted to do it in the first place or things have changed and you have lost that opportunity.
Try to do as many things together / at once as you can.
For example you can combine travel, career and saving by working overseas and making more money. Just a normal lifestyle in London, for example, is something new and therefore is almost like travel.
Start earlier and make smaller sacrifices. Saving at 18 and investing that is MUCH better than saving 30% and investing that at age 40.
Alex
For example you can combine travel, career and saving by working overseas and making more money. Just a normal lifestyle in London, for example, is something new and therefore is almost like travel.
Start earlier and make smaller sacrifices. Saving at 18 and investing that is MUCH better than saving 30% and investing that at age 40.
Alex
alexlee said:
On the other hand, for those that didnt start saving at 18 like yourself Alex and investing in first IP at 22, that doesnt mean that it is ever to late to start saving small amounts often.
Saving 30% of income at 40 is fine if that is the position one finds themselves in, and making sacrifices at any time is worthwhile if it will assist you set yourself and your family up financially for the future.
Hi alexlee,alexlee said:
Sultan of swing is 100% correct. You dont retire at 40 or 50 or 60 because 1) you will be bored and 2) retiring till you die at say 100 y.o means sustaining an income for 60 years!
I wish people would stop dreaming of retiring at 30, 40 or 50 . Its not sustainable. I wish they would say " becoming financially independent " at 30, 40 or 50. Once financially independent you have full control of your destiny. I became financilly independent at 54. but I have not retired. I buy whatever I like, I travel anywhere anytime, I have a hobby that produces good income without me even lifting a little finger, I do at least one building project a year, but there is no pressure. I buy IPs and sell some .I'm busy all the time and enjoying it.I have a country property and a beach house. I spend part of winter in nsw country or north Qld or a deserted island somewhere,I spend summer wherever I feel comfortable.Yet I have not retired. I am just financially independent. And thats what I think most of the people on this forum should aim for, not retiring.
Too true Cloclo,cloclo said:
Retiring young is not sustainable for most people UNLESS they are "financially independent". Ahhh...but surely to be financially independent means you can "retire" right??....WRONG!!
What it does mean, is you can sit back more, smell (and buy) a few roses, hand picking them yourself in some of the world's most exotic gardens in different parts of the world, wherever and whenever the mood takes your fancy. But is this sustainable?? Not if you plan on being able to do these sorts of things AND live long enough to get a card from HM!! Even in retirement you have to generate enough income to keep you in the lifestyle in which you wish to live, and the only way to do this, is to keep your money working for you long after you have stopped!! In short, invest wisely, diversely and above all....pray like heck that it doesn't all go pear shape!! I refer to myself as "semi-retired" not because I don't generate enough income to enable me to say I am "fully retired", more because (for me) I associate being fully retired as a luxury afforded to the elderly.
Silly I know, but I don't want people to think me some wrinkled up prune just because I am no longer part of the active or "paid workforce". I do "work" but it is totally "voluntary" (note - voluntary) and although it doesn't pay a wage/salary as such its rewards are many, and believe me..it is most definitely "active"!! And finally, as for people "dreaming of retiring at 30, 40 or 50" hell why stop??...no harm in dreaming is there?? If it keeps you motivated to better yourself, it can only be a good thing can't it??
Cheers,
Jo
You must admit that it id absurd to work your entire life in the promise of future rewards and then when you arrive at retirement - you dont know what to do becasue you are bored!!!!!!
This says something about society in general and our lack of understanding about what motivates us. The problem is this: most people live their lives either too much in the past or alternatively too much in the future. Not many people live in the now. That is to say we have trouble enjoying the moment because on the pain of the past or because of anxiety of what the future holds.
Therefore if ecpectations of retirement are based on falsehoods, when we reach retirement we will no doubt be disappointed. Dont be a sucker, if you can retire young, do so, enjoy it, because if you dont you are doing the rest of us a disservice.
People get bored ont their days off because they dont know how to relax and find enjoyment in lifes simple pleasures. Our lifes have been based on achieving and buying gadgets that when these are no longer necessary we become 'bored'. But the truth is we havent developed as human beings just to enjoy lifes wonders
How to enjot retirement?????????? The answer is the same as how to enjoy your current situation!!! And that is to enjoy the now. Get the past and the future into perspective....be fully engrossed in what you are doing whther thats raising your kids, ejoying your grand kids, being involved in your community, anything really.............its a state of mind.
Its sad that we need distractions to give our life meaning....dont be a sucker.....
cheers
the rogue
This says something about society in general and our lack of understanding about what motivates us. The problem is this: most people live their lives either too much in the past or alternatively too much in the future. Not many people live in the now. That is to say we have trouble enjoying the moment because on the pain of the past or because of anxiety of what the future holds.
Therefore if ecpectations of retirement are based on falsehoods, when we reach retirement we will no doubt be disappointed. Dont be a sucker, if you can retire young, do so, enjoy it, because if you dont you are doing the rest of us a disservice.
People get bored ont their days off because they dont know how to relax and find enjoyment in lifes simple pleasures. Our lifes have been based on achieving and buying gadgets that when these are no longer necessary we become 'bored'. But the truth is we havent developed as human beings just to enjoy lifes wonders
How to enjot retirement?????????? The answer is the same as how to enjoy your current situation!!! And that is to enjoy the now. Get the past and the future into perspective....be fully engrossed in what you are doing whther thats raising your kids, ejoying your grand kids, being involved in your community, anything really.............its a state of mind.
Its sad that we need distractions to give our life meaning....dont be a sucker.....
cheers
the rogue
Great post, aussierogue!
I agree with what you have written except this part:
I think we developed this many aeons ago, but we as a society or as individuals, have forgotten. Just like we have forgotten how to look after ourselves, (i.e. why more than half of Australians, Americans, etc. are too fat).
I think in our recent development, perhaps over the last century or so, we have become 'lost'.
I agree with what you have written except this part:
aussierogue said:
I think we developed this many aeons ago, but we as a society or as individuals, have forgotten. Just like we have forgotten how to look after ourselves, (i.e. why more than half of Australians, Americans, etc. are too fat).
I think in our recent development, perhaps over the last century or so, we have become 'lost'.
Mero
Mero - i stand corrected. We are all born perfect we have just forgotten how to be perfect.....OHM OHM.........
happiness is a habit.......
Mero - i stand corrected. We are all born perfect we have just forgotten how to be perfect.....OHM OHM.........
happiness is a habit.......
my boring 9 to 5 desk job is killing me. I am struggling everyday to come to the office. I hate the office politic and I hate sitting at the desk all day. Can't leave this job fast enough.
