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PostPosted: Tue Jul 20, 2021 8:49 am 
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polster wrote:
If you don't have a plan to build up money in the accumulation phase of work than you will never have a plan to retire and plan to draw down that accumulated wealth. People who say they will work till the day they die I don't think have a realistic view on life and freedom retirement offers. I am hoping to retire between 46-50 which is young but I spent years building up passive income. Going overseas to some western living standard countries as an expatriate and you will live like a king for with what considered middle class income here.

The reason why I realized I want to retire early is when you work for someone or company your actually a cog in the wheel to make someone else's dreams come true. Whether its a small business where the owner is using your labor and working years to achieve financial success for themselves and his/her business. Or Corporate America where your a cog in the wheel to make sure C-suite folks get huge bonuses and a companies stock prices appreciate (both are not your dream). Retiring at younger age allows one to enjoy the healthy years to travel and do activities that would not be allotted in limited time frame of vacation in working years. Also, we all see where people work there whole life in the prime of their lives accumulating millions of dollars just to become old and frail where you cant enjoy fruits of your labor.


this is a man without children

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PostPosted: Tue Jul 20, 2021 9:06 am 
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No one in my family has ever retired.

I'm in pretty good shape right now for a retirement. However, I am at the beginning of the most expensive years of my life. I have a decade of must work if I don't want to touch principal. We'll see how life plays out after that. Another decade of savings and interest will give me all the freedom I need to choose if I want to continue.

I do also eye the next generations. You see with the rich how inherited wealth makes a huge difference in freedom. I'd love to be in a position to fund a grandchild working for the common good, maybe saving my soul.

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PostPosted: Tue Jul 20, 2021 9:13 am 
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good dolphin wrote:
No one in my family has ever retired.


I only knew one adult growing up that retired. He worked for Purina and even in retirement he worked at the local bank as a kind of community liaison because everybody knew him.

So, I guess I never knew anybody that retired.

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PostPosted: Tue Jul 20, 2021 9:45 am 
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PostPosted: Tue Jul 20, 2021 10:46 am 
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pittmike wrote:
NWsider4-3-3 wrote:
Zippy-The-Pinhead wrote:
The only thing holding me back is insurance.


i believe most under the age of 45 have no idea what awaits them...insurance-wise. many believe once you hit 65, you never have to worry about paying anything medical related again.

i read that the average american male will spend $135k out of pocket on all medical care/supplemental & prescriptions AFTER the age of 65. for women, it's higher, because on average, they live longer.

in the past year - my company offered us a buy-out which included an insurance 'fund'. $150k for age 60 and under/$10k less for every year over the age of 60/$100k age 65 and older. i'm 54, if i was 60 or over, i'm gone. that money is gold.


To you and Zippy that’s one reason I am going nowhere until 62. I can retire with my present healthcare until Medicare kicks in. Then they will pay the supplemental.


that's great. my company used to do that, but we lost that when the BK business tool lever was pulled.


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PostPosted: Tue Jul 20, 2021 10:57 am 
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My grandfather worked for CPD until the forced retirement age of I believe 62. He then went immediately to work for the SA office and stayed there until he was 80. He actually died less than a year after retiring. I remember asking him why he worked so long and he said working while knowing you can quit at any time and be fine is a great feeling.

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PostPosted: Tue Jul 20, 2021 11:20 am 
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A lot of "ifs", but assuming the financials work out and I'm not trying to live on a tight budget and eating ramen noodles to survive, I'd walk out the office and never look back (and I really like my job). I'm definitely not one of the people that feels like they need a job to "stay busy". I can find many better ways to stay busy.


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PostPosted: Tue Jul 20, 2021 11:23 am 
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How do you do it? Easy.....assuming all the financial and insurance stuff is in place, you find things to fulfill your body and brain outside of work. I could do that very easily, but financially I won't be in a place until probably 62.
My Dad worked until he was 75. He was definitely self-aware enough to know he didn't have enough personal interests so he kept working. His company was glad to have him until 75 and would have kept him even longer. He's been ok for the last 2 years and kept himself busy at home and with a rental house. Another 2 years and he's going to run out of shit to do and go crazy :lol:

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PostPosted: Tue Jul 20, 2021 11:42 am 
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My husband wants to retire at 55 but he's going to drive himself and me nuts. He/we'll have to find something.

My dad has been retired for a while and he seems to be getting squirrely. He's run out of projects and I don't need the help I once did. He has too much time but not the energy he once did.


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PostPosted: Tue Jul 20, 2021 11:52 am 
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Man, this Protestant work ethic has poisoned the brains of a generation or three.

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PostPosted: Tue Jul 20, 2021 11:54 am 
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SpiralStairs wrote:
Man, this Protestant work ethic has poisoned the brains of a generation or three.

:lol: My Dad is Catholic

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PostPosted: Tue Jul 20, 2021 12:10 pm 
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Also a Catholic.

polster wrote:
The reason why I realized I want to retire early is when you work for someone or company your actually a cog in the wheel to make someone else's dreams come true. Whether its a small business where the owner is using your labor and working years to achieve financial success for themselves and his/her business.


I think it is based on your situation. I've been at my job almost 25 years now. I've seen incredible hard times and incredible growth.

I don't feel used. I take quite a bit of satisfaction from what has been built as a management group.

Am I making someone else's dreams come true? Probably. But, I like those people and I take a reasonable amount of pride in what has been accomplished. I'd like to keep building it...to some degree, MJ.

It's a much different experience than working in big corporate America which I did through most of the '90s. I was certainly a cog in that machine and why I left.

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PostPosted: Tue Jul 20, 2021 12:32 pm 
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Dr. Kenneth Noisewater wrote:
Also a Catholic.

polster wrote:
The reason why I realized I want to retire early is when you work for someone or company your actually a cog in the wheel to make someone else's dreams come true. Whether its a small business where the owner is using your labor and working years to achieve financial success for themselves and his/her business.


I think it is based on your situation. I've been at my job almost 25 years now. I've seen incredible hard times and incredible growth.

I don't feel used. I take quite a bit of satisfaction from what has been built as a management group.

Am I making someone else's dreams come true? Probably. But, I like those people and I take a reasonable amount of pride in what has been accomplished. I'd like to keep building it...to some degree, MJ.

It's a much different experience than working in big corporate America which I did through most of the '90s. I was certainly a cog in that machine and why I left.

Lots of truth there, Dr. Ken.
I've been in Corporate for over 20 years....definitely a cog in the wheel, but I'm ok with that. Someday I hope to land in a smaller, private company.
The entrepreneurial spirit is fairly unique. I've never had it. I'm perfectly fine making other people wealthy. There are plenty of ways as an employee feel valued and have pride in what you do.

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PostPosted: Tue Jul 20, 2021 1:10 pm 
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Also a Catholic.

I think my husband would rather be at a smaller company or have a smaller role than he does. He always has to be doing something and it can be annoying especially if he tries to make me do something I don't want to do. He's always planning a project or working on the project, if he does nothing he doesn't feel useful, sometimes it's like he doesn't even enjoy free time it's like there has to be a purpose or productivity.

I like working and I like working for somebody. I would never want to run my own business. Just need to find the right thing for now.


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PostPosted: Tue Jul 20, 2021 2:28 pm 
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Dr. Kenneth Noisewater wrote:
Also a Catholic.


Hmm, I had you pegged as a fellow member of the Tribe.

denisdman wrote:
If locally it would be a place like ECC. But I am retiring up north, so it will be some place no around here has heard about or an online venue.


Western Technical College in Mauston it is. :oops:


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PostPosted: Tue Jul 20, 2021 2:31 pm 
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McCareins_Fan wrote:
Dr. Kenneth Noisewater wrote:
Also a Catholic.


Hmm, I had you pegged as a fellow member of the Tribe.

denisdman wrote:
If locally it would be a place like ECC. But I am retiring up north, so it will be some place no around here has heard about or an online venue.


Western Technical College in Mauston it is. :oops:


I don't know many Irish Jews.

But, I suppose you could say I was with you up to a certain point of the Bible....and then it went another direction.

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PostPosted: Tue Jul 20, 2021 2:39 pm 
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Dr. Kenneth Noisewater wrote:
McCareins_Fan wrote:
Dr. Kenneth Noisewater wrote:
Also a Catholic.


Hmm, I had you pegged as a fellow member of the Tribe.

denisdman wrote:
If locally it would be a place like ECC. But I am retiring up north, so it will be some place no around here has heard about or an online venue.


Western Technical College in Mauston it is. :oops:


I don't know many Irish Jews.

But, I suppose you could say I was with you up to a certain point of the Bible....and then it went another direction.


I have a nephew that fits that description Doc.

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PostPosted: Tue Jul 20, 2021 3:02 pm 
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I was made to be a blunt tool but was burdened with exceptional abilities.

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PostPosted: Tue Jul 20, 2021 3:58 pm 
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You got the tool part right at least.


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PostPosted: Tue Jul 20, 2021 4:42 pm 
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And I can't wait to retire to be able to do what Squirrel does for work every day. It's all how you look at it.

My plan is to go at age 60, with 20 years with the company, coming up in Fall of 25. I admit, there has been a shift in my motivation once I actually put a real date to it that is rapidly approaching. More "Hey, if that's how you want to do it" than "Well, we could do it that way, but how about this idea?"

I've heard a person needs $2M in retirement savings to have a $100K/year income in retirement. Every person I know who has retired spends way less than they thought, and way less than $100K/yr, but I don't run in the Dr. Ken circles. I won't have quite that much, and a lot of it is tied up in farmland. To cash out, I get to be the generation that sells the family farm, yay.

I did have a friend who retired from UPS at age 40- very well off, but without any friends the same age to hang with. He ended up taking a bunch of entry-level joe jobs just to stay busy and have some extra cash. Then, the guys he worked with who kept working until they were 55-60 retired with $Millions, and he regretted leaving quite so early.


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PostPosted: Tue Jul 20, 2021 4:55 pm 
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K Effective wrote:
And I can't wait to retire to be able to do what Squirrel does for work every day. It's all how you look at it.
I just worked with a guy who told me he was leaving his company after 25 years to go into farming. I asked what he was going to do about insurance and he said he was going with a Christian healthcare sharing plan. So I'm still looking...

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PostPosted: Tue Jul 20, 2021 5:33 pm 
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You have to be a bit of risk taker to make a living from farming, but I'm not that big of a risk taker. 60/20 gives me access to my health care insurance from work at a reasonable rate. We will look at my wife's work insurance, as she may have a better deal in retirement, I'm not sure right now.


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PostPosted: Tue Jul 20, 2021 5:51 pm 
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I spent 20 years getting away from farming.

Those are special people and I knew I wasn’t cut out for it.

Nothing but the utmost respect but I know my limits.

No way I’d retire to farming.

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PostPosted: Tue Jul 20, 2021 6:36 pm 
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Dr. Kenneth Noisewater wrote:
I spent 20 years getting away from farming.

Those are special people and I knew I wasn’t cut out for it.

Nothing but the utmost respect but I know my limits.

No way I’d retire to farming.


I can see hobby farming but to survive nope.

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PostPosted: Tue Jul 20, 2021 6:56 pm 
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pittmike wrote:
Dr. Kenneth Noisewater wrote:
I spent 20 years getting away from farming.

Those are special people and I knew I wasn’t cut out for it.

Nothing but the utmost respect but I know my limits.

No way I’d retire to farming.


I can see hobby farming but to survive nope.


Isn’t that just serious gardening?

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PostPosted: Tue Jul 20, 2021 7:29 pm 
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Dr. Kenneth Noisewater wrote:
pittmike wrote:
Dr. Kenneth Noisewater wrote:
I spent 20 years getting away from farming.

Those are special people and I knew I wasn’t cut out for it.

Nothing but the utmost respect but I know my limits.

No way I’d retire to farming.


I can see hobby farming but to survive nope.


Isn’t that just serious gardening?


Yeah I was probably more thinking ranching. Couple cows or horses.

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PostPosted: Tue Jul 20, 2021 7:50 pm 
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Yeah I could go for ranching.

We had horses. I’d be up for that.

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PostPosted: Tue Jul 20, 2021 8:56 pm 
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My farming is far more expensive and painful than a hobby, so I refer to it as Fetish Farming. And I dress like a host of the AVN awards show most days, so there is that.


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PostPosted: Tue Jul 20, 2021 10:06 pm 
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K Effective wrote:
My farming is far more expensive and painful than a hobby, so I refer to it as Fetish Farming. And I dress like a host of the AVN awards show most days, so there is that.


Would.

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PostPosted: Wed Jul 21, 2021 7:35 am 
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pittmike wrote:
Dr. Kenneth Noisewater wrote:
pittmike wrote:
Dr. Kenneth Noisewater wrote:
I spent 20 years getting away from farming.

Those are special people and I knew I wasn’t cut out for it.

Nothing but the utmost respect but I know my limits.

No way I’d retire to farming.


I can see hobby farming but to survive nope.


Isn’t that just serious gardening?


Yeah I was probably more thinking ranching. Couple cows or horses.


My stepson's dad has a hobby farm and they have 5 acres. They grow something on it to feed their livestock. I think in their mind they are going to be some big Black Angus operation but
from what I can see it is a big expensive hobby and I would be surprised if they make anything at all on it. Also seems like a lot of work with those animals. Once the boy goes to school in about
a month I have no idea how they are going to be able to take care of everything. They have like a 12 yr old girl but I don't think she can carry the weight.

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