Retirement

[gobbledonk]

OK, I suspect that I've opened several *different* cans of worms here, and I thank you all for the thoughtful responses. Some of the points which have been raised, I really cant answer, but here is *my opinion* :

 

1. How long do we have ?

If my mothers side are any indication, it could be a long time - 80 certainly isnt out of the question. If its my fathers side, he was born in 1902, drank heavily and died in 1980 - enough said.

 

2. How much do we need ?

I stick to my original statement : I'd rather spend $500K having a *really* good time over 8-10 years than trying to make it last for 30 increasingly miserable years. If I dont have 500K, due to share market issues or whatever, then the 'good' year figure comes down or I need to spend another couple of years in the workforce. Sitting at this desk at the age of 64 has no appeal whatsoever, yet we have people here who are in that very position - some of them are paying for their grandchildren's education !

 

What do I mean by a 'really good time' ? Simple - freedom. Instead of having to say 'No holiday in Asia this year, because I'll be needing that money for a hip replacement when I'm 70', I want to be able to visit the country of my choice at least once every 6 months (8 years = 16 countries).

 

3. Will I be *ready* to die at 65 ?

OK, this is a tough one. We all have the phrase 'hope I die before I hit 30 !' rolling around from our incredibly naive teens, but this is a different kettle of fish. When I see Rupert Murdoch doing situps at 72, I know that its conceivable that I may not be a complete basketcase at that age, but ole' Rupe can afford any damned lifestyle he chooses. Personally, I wake up some mornings feeling at least 20 years older than I am, even without alcohol. I was fatalistic at 15, and I believe I'll be even more so at 65.

 

4. Why do people hang on for so long ?

If old age is such an ordeal, why do people hang on into their 90s and beyond ? I believe its for their children and grandchildren. In my case, that isnt an issue.

 

5. Do I have the guts to follow this through ?

Imagine if you made a pact with your schoolmates, that you'd each leap off the Harbour Bridge on your 30th birthday rather than face the indignity of losing your good looks (!). Youth suicide is no laughing matter, but the vast majority of us dont act on such childish undertakings. Whether I'll have a change of heart over the next 10 years remains to be seen, but nothing that I've seen in the last 10 makes me think this will be the case.

[stonepony]

artie, i agree with most of what you are saying. but with 500K I would think about stretching 8-10 years out to maybe 15 years.

 

I am also in the same boat as you with no kids, so I have thought about this a lot. My biggest concern would be falling for a little sweet thing from SEA and her wanting to start a family. Not sure I could tell her no and that would throw everything out of the window.

[BelgianBoy]

..... a vasectomy to make sure ???

[Guest]

"artie, i agree with most of what you are saying. but with 500K I would think about stretching 8-10 years out to maybe 15 years. "

 

Not sure Wether Artie was talking US or Aus $. How much is the $AUS these days??

[gobbledonk]

Not sure whether Artie was talking US or Aus $. How much is the $AUS these days??

 

Yes, regrettably, I refer to the Pacific Peso, and it hovers around the 70c mark. 70% of 15 years puts me back in my original 8-10 year estimate, Amigo ::

 

As travellers, we often bemoan the value of our dollar in relation to the almighty greenback and the pound, but our exporters get very unhappy whenever it surges, and trying to maintain parity with the greenback has seen more than one country go under financially. Could be worse - I could have been talking NZ dollars !

[MaiLuk]

>>Will I be *ready* to die at 65 ?<<

 

You will. I was ready at 38. Had a major heart problem. When I came home from the hospital I felt like i was hanging on to life by a small thread. But i felt good about being alive for the moment, and thought if i died it would not be so bad.

 

For the three years before that happened I had found some happiness by breaking away from my business (finally) and leaving the country several times a year. Because of that three years I felt i had lived life pretty good and was ready for the end if it came to that.

 

I'm with thalenoi here. People who focus their lives primarily on work for the purpose of having a comfortable living at age 65 are acting strangely. I intend to cut myself adrift within the next six months by taking an expat job in the mid-east. It is something that i need right now. People obsess too much about safety (including financial safety). Once you stop thinking your life is so important you can start living it.

[MaiLuk]

This is a great thread you started here btw.

[torrenova]

Here I am, 35yrs old, having set up in business in Pattaya because the thought of another 20+years of corporate banking just kills me.

 

I've seen guys work their bollocks off until retirement then drop dead leaving a happy widow with a bucket full of cash. I'm not saying you don't have to plan for the future but I used to want to be a billionaire, then have hundreds of millions, then later, a few million would do and now, the quality of life has become the most important thing.

 

A few beers, a roof over my head, some money in my pocket, good and honest friends and perhaps a girl or two and that'll do me. OK, I can't go travelling down the Amazon or fly first class to New York but who really gives a fuck about shit like that ?

[gobbledonk]

Hi Mailuk,

 

The topic of retirement crops up pretty regularly on the board, as you would know, but its often characterised by the fear of running out of funds before one runs out of oxygen. I can definitely relate to that, but I wanted to move the focus from 'how many years have I got' to 'making the most of X years'. The replies seem to favour my initial thrust (a good time vs a long time), but its very much a personal decision, and I can appreciate that those of us with families will probably see it in a completely different light.

 

Cheers,

 

Artie

[Guest]

"People who focus their lives primarily on work for the purpose of having a comfortable living at age 65 are acting strangely. (...) People obsess too much about safety (including financial safety). Once you stop thinking your life is so important you can start living it. "

 

Nicely said