When do you plan on retiring?
- Thread starter Aceyducey
- Start date
"Retirement", I think this is not a well defined question, the first question we must answer is : "what is retirement from paid employment"?
If I had 100million dollars, would I retire, buy a big home, wake up at 11am, watch "Midday with Ray" a bit of "Bert" and then catch up with the soaps, then at night go down to the club and whinge about the state of the world and then play the pokey's? Hell No!....death couldn't come quick enough!
To me retirement must mean to give up on the obligation/neccessity of paid employment to because you want to free up time so you can focus on bigger and better more desirable activities.
I suggest that unless we each have something bigger/better and more desirable to do with your time, then by some unclear "law" of the universe you will be doomed to stay an employee.
Has everyone seen the movie "Matrix" ( Matrix reloaded is not out yet in Japan)? Well like Neo in the final stages, he finds that he can remake reality by an act of will. Imagine by the act of thought that we can bring into our lives what we want and desire with a simple and clear desires, wants, passions and goals? In most religions have a similar "though turns to physical reality" ideas.
Because I am a terrible anthiest and skeptic I find these ideas difficult to accept, but I ask the question "If it isn't really true, what would be wrong with me proceding with my life as if it was true?". Maybe I have diverged from the point of this poll, but my point is simply we must first have a purpose, a goal, a dream, a desire for a better life, from this perspective finishing paid employment is just a small progressive step.
If I had 100million dollars, would I retire, buy a big home, wake up at 11am, watch "Midday with Ray" a bit of "Bert" and then catch up with the soaps, then at night go down to the club and whinge about the state of the world and then play the pokey's? Hell No!....death couldn't come quick enough!
To me retirement must mean to give up on the obligation/neccessity of paid employment to because you want to free up time so you can focus on bigger and better more desirable activities.
I suggest that unless we each have something bigger/better and more desirable to do with your time, then by some unclear "law" of the universe you will be doomed to stay an employee.
Has everyone seen the movie "Matrix" ( Matrix reloaded is not out yet in Japan)? Well like Neo in the final stages, he finds that he can remake reality by an act of will. Imagine by the act of thought that we can bring into our lives what we want and desire with a simple and clear desires, wants, passions and goals? In most religions have a similar "though turns to physical reality" ideas.
Because I am a terrible anthiest and skeptic I find these ideas difficult to accept, but I ask the question "If it isn't really true, what would be wrong with me proceding with my life as if it was true?". Maybe I have diverged from the point of this poll, but my point is simply we must first have a purpose, a goal, a dream, a desire for a better life, from this perspective finishing paid employment is just a small progressive step.
Hi Duncan,
10 years seems to be one of those magical numbers often used for 'When do you want to retire'.
I would like to say 10 years but it very much depends on the next property boom. It may be less or more than 10 years.
I cannot pinpoint the exact time I 'first developed the realisation that Investing would empower an early retirement' but it was probably in 2000 sometime.
Cheers
10 years seems to be one of those magical numbers often used for 'When do you want to retire'.
I would like to say 10 years but it very much depends on the next property boom. It may be less or more than 10 years.
I cannot pinpoint the exact time I 'first developed the realisation that Investing would empower an early retirement' but it was probably in 2000 sometime.
Cheers
Hi Always_Learning,
Great response. This forum has got me thinking lately about 'what happens in retirement'.
It is no wonder people aren't excited about retiring when they visualise retirement as 'watching lots of TV, playing poker machines in clubs with other retirees'.
The only thing I am sure about is that I want to retire young enough so I have the ability/money/health to try different things.
While I have a day job I want to 'get a taste' of things I want to do in retirement so I can stay focused rather than buying bigger and better toys (cars, hi fi, TV's .... )
Great response. This forum has got me thinking lately about 'what happens in retirement'.
It is no wonder people aren't excited about retiring when they visualise retirement as 'watching lots of TV, playing poker machines in clubs with other retirees'.
The only thing I am sure about is that I want to retire young enough so I have the ability/money/health to try different things.
While I have a day job I want to 'get a taste' of things I want to do in retirement so I can stay focused rather than buying bigger and better toys (cars, hi fi, TV's .... )
Just my guess is that Jakk is "living his dream" right now! Not a bad life, except he is doing it in of all places "Drouin".
As a kid from KooWeeRup (20Kms away from Drouin) Jakk's lifes sounds pretty good, except I would just relocate to a nice estate on Sydney's North Shore, actually the Ken Done (artist who paints those colorful pictures) estate in Chinaman's beach wouldn't be bad!
"Quality time with RealEstate Agents" is that possible? I thought it was an oxymoron like "Military Intelligence" or "Software Engineering"
As a kid from KooWeeRup (20Kms away from Drouin) Jakk's lifes sounds pretty good, except I would just relocate to a nice estate on Sydney's North Shore, actually the Ken Done (artist who paints those colorful pictures) estate in Chinaman's beach wouldn't be bad!
"Quality time with RealEstate Agents" is that possible? I thought it was an oxymoron like "Military Intelligence" or "Software Engineering"
Why do people equate retirement with stopping (one of those Dumb Things People Believe Always_Learning has a thread about at http://www.somersoft.com/forums/showthread.php?s=&threadid=8862).
Stopping is what our gransparents did - how many of you have grandfathers in particular who stopped working (retired) then died shortly afterwards because they felt they couldn't go and get new interests?
I see retirement as the disconnection of income with working.
You can work as much or as little as you like at anything that you fancy & your income keeps rolling in.
Cheers,
Aceyducey
Stopping is what our gransparents did - how many of you have grandfathers in particular who stopped working (retired) then died shortly afterwards because they felt they couldn't go and get new interests?
I see retirement as the disconnection of income with working.
You can work as much or as little as you like at anything that you fancy & your income keeps rolling in.
Cheers,
Aceyducey
Retirement
It took us 8 years from our first investment property purchase until we retired. Retirement for us so far has been caravanning around half of Australia and we will complete this journey next year (we have been stalled by an unexpected death in the family). It is the ability to choose when to work and when to play. We have come to understand that retirement does not just mean putting your feet up - you have to develop passions for things whether it be for hobbies, helping in the community, paid work again (because you WANT to) - really financial freedom just gives you choices. Property has done it for us - we are probably not rich by a lot of peoples standards but by our standards we have enough to do what we want to do - to buy a few toys, live a comfortable lifestyle, travel if we desire, our dream has been realised. The unexpected death has really brought home to us that we are doing the right thing and living NOW because you just never know what the future holds.
Diane
It took us 8 years from our first investment property purchase until we retired. Retirement for us so far has been caravanning around half of Australia and we will complete this journey next year (we have been stalled by an unexpected death in the family). It is the ability to choose when to work and when to play. We have come to understand that retirement does not just mean putting your feet up - you have to develop passions for things whether it be for hobbies, helping in the community, paid work again (because you WANT to) - really financial freedom just gives you choices. Property has done it for us - we are probably not rich by a lot of peoples standards but by our standards we have enough to do what we want to do - to buy a few toys, live a comfortable lifestyle, travel if we desire, our dream has been realised. The unexpected death has really brought home to us that we are doing the right thing and living NOW because you just never know what the future holds.
Diane
That sounds fantastic Diane. Best of both worlds.
I have been toying with the idea of taking 3 months off and travelling (with Mrs Will) to see if we like it. We still have another 5 - 10 years in the 'Rat Race' before we can 'retire' but I think a taste of travelling may wet our appetites and keep us focused.
How do you find 'Caravaning' ?. I am not sure weather a CamperVan, camper trailer or small caravan would be prefereable to 'Try it out' over a 3 month period.
Cheers
I have been toying with the idea of taking 3 months off and travelling (with Mrs Will) to see if we like it. We still have another 5 - 10 years in the 'Rat Race' before we can 'retire' but I think a taste of travelling may wet our appetites and keep us focused.
How do you find 'Caravaning' ?. I am not sure weather a CamperVan, camper trailer or small caravan would be prefereable to 'Try it out' over a 3 month period.
Cheers
Diane,
Could you make an estimate of your weekly living expenses while travelling about. What regular costs do you have apart from food eg. camping fees, fuel, calls to property managers etc Do you stay in parks or stop on the side of the road/river.
Are there any unexpected expenses or problems that you would have prepared for differently had you known.
Could you make an estimate of your weekly living expenses while travelling about. What regular costs do you have apart from food eg. camping fees, fuel, calls to property managers etc Do you stay in parks or stop on the side of the road/river.
Are there any unexpected expenses or problems that you would have prepared for differently had you known.
Hi Will,
Caravanning is excellent! We bought a new 18 foot van - went for a bit of luxury as we are doing long term trips and it is your home at the time. There are so many different combinations out there and all have their merits it is just personal choice - much like property investing! Grab what ever time you can, you will not regret it.
Regards Diane
Caravanning is excellent! We bought a new 18 foot van - went for a bit of luxury as we are doing long term trips and it is your home at the time. There are so many different combinations out there and all have their merits it is just personal choice - much like property investing! Grab what ever time you can, you will not regret it.
Regards Diane
In a sense, I like to think that I've "retired" now, as I'm enjoying my life and doing what I enjoy. Though I don't work in paid employment, I am at home, caring for the family and working part time on our investment portfolio so that the lifestyle we have now can continue for the rest of our earthly days. (well perhaps with a couple of extras thrown in like a beach house and an annual holiday overseas!)
My better half, however, supplies the income we currently need and he anticipates being able to choose between working and not working in less than ten years.
Retirement isn't about simply quitting your job. To me, it means being able to choose whether or not to do so. After all, there are plenty of independently wealthy people out there who still go out to work every day because they love it.
My better half, however, supplies the income we currently need and he anticipates being able to choose between working and not working in less than ten years.
Retirement isn't about simply quitting your job. To me, it means being able to choose whether or not to do so. After all, there are plenty of independently wealthy people out there who still go out to work every day because they love it.
Always, I have never heard of this concept in religious terms before. I utterly DESPISE any kind of organised religion, yet I believe in this whole-heartedly. Peter Spann calls it "the law of universal convergence" Napoleon Hill talks about "auto-suggestion". In fact, this concept is in most of the motivational books I have read. It is real and it rocks! It is also called your "reticular activating system" in NLP terms.
Personally, I will be fully retired before midnight on the 6th November 2009. I have been using the above law to achieve that goal, and will continue to do so.
Hobbgobb
