Thought for the day

[Chris Jones]

Norm you and your Ginny truly inspire me for what is to come for me and my Bride of 26 years. Thank You.

Originally Posted by Ian-Vicki

I always say that most of what we have is just stuff, and if you have the memories, you don't need the stuff. If you don't have the memories, then the stuff won't help.
OIan

Lots of wisdom!

I'm 46 in another week and LOVE my job. But would retire in a minute if I had my finances in order and my youngest son out of college. Well he has been there for two years so maybe only 3 more and I can look at 50? It's a goal anyway.

[David Tilston]

I am not a hard worker, but I don't think I will ever retire. With the internet, the job I do now, I could do from a nicely equipped trailer/office. Tim's WIFI in the morning, Maybe Starbucks WIFI in the afternoon. All I really have to do, at my job, is know the correct answer to technical questions, or be able to find the answer, usually on the internet.
It is the kids that keep us stationary at the moment. The youngest is six, so twelve more years till we have options.
We are planning to leave the kids that remain in the house, (at least two, probably more like four) to pay the bills, and mortgage, while my wife and I drive off into the sun set. I love the internet!

[floyd]

Who can afford Judge Judy?! Have you checked your cable bill lately?
Retiring from a "profession" is one thing,... retiring from building scaffolds, or field repairing heavy equipment outside in the winter, is quite another.
Exposure to another year of paper cuts or the smell of magic markers,does not compare to another year of chemical exposure or 20 below chill factors at 150 feet above the ground on a 2" pipe.
"Early" retirement is a blessing for those who can afford it, but it is a lifesaver to many who would otherwise die early and crippled.

I have had jobs which ranged from professional, to craftsman, to skilled labor.
The blessings in my life have been great and adequate during those years,but knowing when to retire was as great a blessing as the riches which funded it.

The improvements in health and liberty have far outweighed losses in wages, and have helped me to better understand the true meaning of prosperity.

Originally Posted by Glenn Baglo

How many people do you know who will readily admit a mistake? Of course those who retired early don't regret it.

I retired early, but I got a nice bonus to do so. I don't miss the job and I don't want to go back to work, but watching Judge Judy can wear on you. And, if you didn't worry about the money, watching Judge Judy will be all you can afford.

Early retirement requires planning. Not just the money, but how you will use your time and how you will replace the contribution you made and the value you had as an employee.

I would recommend anyone considering early retirement, or approaching retirement, stop by a library and pick up a couple books on the subject. My daughter gave me "52 ways to wreck your retirement...and how to rescue it" by Tina Di Vito. It is aimed at Canadians. I'm sure there are similar books for U.S. citizens.

[Mike Magee]

No way could I retire anytime soon (financially). But I feel the same as you all about the future's uncertainties... who knows if I will have any retirement years? That is why I travel now, before retirement. My work schedule is linked to school schedules, so I have summers off.

Some people would try to bank that extra couple thousand dollars per year. I'm using it for gas, trailer payment, campground fees, etc. Because now is when I have the physical well being to enjoy those walks in the woods and wilds, clambering along trails to see new vistas. Later on, who knows?

[Glenn Baglo]

A balanced view.

[Marinab]

I just retired early the first of March. I thought that I couldn't do it but after looking at the numbers, I think that I can make it. I still have a large mortgage and truck payments but I believe that I can do it. If I am a little short at the end of the month, I can always get a part time job. So far the panic has mostly subsided, with just a couple of twinges every now and then. The first three weeks have been like I'm on holidays, it's only now that I'm actually looking at doing things, both around the house and yard. I had decided before I retired that I wanted to try my hand at making some trellises for my garden, so I went out this week and bought a compressor, nail gun and a pressure washer (because everyone should have a pressure washer :-) ). My best friend just had a heart attack on Tues. and didn't make it. Her son died 3 weeks ago. I may not have a lot of money, but after all of this, I'm glad I didn't wait. Life is too short. My girlfriend was only 50 and her son was 32. Marina

[Adrian W]

Originally Posted by Mike Magee

No way could I retire anytime soon (financially). But I feel the same as you all about the future's uncertainties... who knows if I will have any retirement years? That is why I travel now, before retirement. My work schedule is linked to school schedules, so I have summers off.

Some people would try to bank that extra couple thousand dollars per year. I'm using it for gas, trailer payment, campground fees, etc. Because now is when I have the physical well being to enjoy those walks in the woods and wilds, clambering along trails to see new vistas. Later on, who knows?

Exactly what we did, when we both taught. What we did when only I taught.

Travel when you can. I regret not doing more travel. For some years, after we bought a boat, we didn't do as much long trips. A lot of going to the lake & camping & boating. With a little fishing.

Could have better used the time & $ on seeing more of our country.

Enjoyed the time with the boat. Kids did. Had to do it again, maybe not have gone that way. Time & Life just slips by as we live it. Ha! Can't get it back.

Jobs Vary. People Vary. If didn't there wouldn't be many places to camp.

I hear people saying they can't travel because the kids are too young or too old. None sense, I say. We started traveling more after the kids came. Kept at it through high school. A little harder in college.

They have been traveling with their kids right from the get go now as well.

[Pam Garlow]

My question always wanders to the un-escapable issue of covering the costs for a medical emergency. You can always sell your house and get rid of the mortgage payment that way, along with house repairs, taxes, etc. But what is the price of getting med insurance for a 55+ person? I assume that not all early retirees had a job with a lifetime pension and med insurance? My job is high pressure and the urge to walk away from the is so tempting.

[honda03842]

For those that are younger and are looking for a model consider the Petersens, the founders of the Escapees. I believe they were in their 40's with children when they packed in the traditional lifestyle for the road. Interestingly Kay Petersen was the driving force. Before the hitting the road she would wrap his lunch sandwiches in road maps as a hint to her desires, humor and persistance.

I believe he was an electrician and she was a nurse. During their adventure they did continue to work. Books on their lives are available on the Escapee site, we read them all before hitting the road.

I admire their path but also know it's not for everyone.

Definitely a mortgage and a truck payment are issues. We eliminated the former by discarding our large home and moved into our smaller, paid for beach house. Still owning the beach house is a financial burden, though smaller, but it does provide Ginny with a vestige of a home base.

As to car payments, we have a relatively low cost, paid for 9 year old Honda CRV. Our plan was the minimum vehicle to tow our trailer. It is our only vehicle.

Medical insurance was an issue when we retired. Our solution was initially to carry Cobra from our previous job for 18 months. After that we bought a catastrophy policy that coverd us against big problems. As it turned out that as we RVed our health improved, simply a reduction in stress, better eating habits and more exercise.

It's certainly not an easy choice because it's a big change. Change requires a measure of courage and a willingness to grow in new ways. To me it was oppurtunity knocking.

Ginny very clearly states it's not for everyone; just as clearly I'll say it works for us. An early poster writes about stuff...initially it's hard to give up stuff from decades of gathering, but at least for us we came to the conclusion that stuff can burden, can become the reason for living. Since we've started we've continually divoriced ourselves from things.

It's been fun to read posters thoughts. Some of you have had jobs that gave you summers off, very wonderful.

I wish you all well and that your dreams become a reality.

[Thomas G.]

Originally Posted by Pam Garlow

.......... But what is the price of getting med insurance for a 55+ person? ..........

Once the ACA takes effect next year, you may be able to buy subsidized health insurance based on your taxable income, which can be quite low if you are living off after-tax investments.

Obamacare makes it really easy for millionaires to retire early?

Fellow forum members -This is not a political statement - please don't take it there.

[Mike Magee]

Regarding health insurance, if one quits working the income goes way down. If assets are not too high, one might qualify for medicaid. Just a thought.

[rabbit]

I retired last July a week after my 65th. Don't expect to meet the old familiar younger you at the door. Do expect to get acquainted with the new unfamliar older you. Good planning makes retirement possible; a healthy sense of the limitations of new beginnings makes it sustainable. Don't cross to Jordan and find you liked it better in Egypt. And Seize the Fish, of course!

jack

[Glenn Baglo]

I retired last July at age 63. I now pay my own medical, extended health and dental. I've had a stent and my wife is a year older ( the Old Bag ) so travel medical insurance is very pricey ( especially to the U.S.A. ).
These are some of the things you have to consider if you are going to retire and "travel".

[Alf S.]

Hi: All... Here's a thought!!! My Dad always said the world was backward. "Weeds grow better than flowers". So why not go to school till you're 20 then retire. Start work at 45 till 70,as pay back, then get a comfy nursing home, on the Nat. Health Plan?
Alf S. North shore of Lake Erie

[honda03842]

Glenn,
RVing has resulted in a lot of new Canadian friends.

We had no idea what a problem out of the Canada and even out of province travel limitations Canadian medical insurance contains.

My understanding is that extended out of Canada and even out of Province travel requires the purchase of a supplementary medical insurance policy.

For a pair of our freinds, when they reached 80 travel was well beyond their budget. As well if you have any problems the rates increase.

Wishing you well and you live in a beautiful province with much to see.

[Alf S.]

Hi: honda03842... The two most hated words in health ins. are "Pre-existing conditions". Once you have them...extended stay Ins. is either very expensive or not available. I'm in the laughable category. They say "You want to go where...for how long"? LoL
Alf S. North shore of Lake Erie

[rgrugg]

Early retirement has been fantastic for both of us. I was just a few weeks shy of being age 54 and that was 23 years ago in 1990. My wife had to wait until she was age 55 and that was 19 years ago. Now we're ages 76 and 73 and my wife has Parkinson's disease which is starting to limit her. We are planning on a trip to the west coast from Michigan this summer. Our thinking is that our bodies will at some point prevent us from doing it at all so we'd better do it while we can. Of course, maybe the bodies might be willing but the inclination might not be. As for the cost, our philosophy is if we don't spend it the kids will get it. The kids know this and support it. FWIW, since November we've been to south Carolina and Georgia...back home. Then to Texas and Florida...back home. Just returned home from a week spent going to Callaway Gardens in Georgia (fantastic azaleas in full bloom)...back home. Probably only camping for 2-3 days at a time through April & May. Then on to the Pacific Ocean. This fall? Who knows?

[honda03842]

Bob and Grace,

Wishing you the best possible.

[Jon Vermilye]

I've always enjoyed traveling, and luckily, had a job that allowed for it. If our theatre department didn't have a summer program, my wife Carol & I could travel for as long as 2 months. We made 8 cross country trips, often with friends, over the years I was working. Unfortunately, a few years after retiring, my wife became ill & travel became impossible.

I go along with those suggesting finding a way to travel when you can rather than planning for the future. Putting it off until retirement doesn't always work. Now that I'm on my own, I am back to traveling. Retirement allows for travel as long as I want & over the last two years I've spent time in parts of the country that we sped through on previous trips.

As to retirement itself, I do miss teaching, however I don't miss the politics of the department & college, and I now have the opportunity to teach when & what I want. For example, next weekend I'll be teaching a class on Photoshop at our local library. I have not ever felt bored with retirement!

[ruscal]

Retirement is not looking too likely for us. Taking care of aging parent and disabled son requires very short time away from the routine. I have always belived in balancing work and play, so won't feel shorted if retirement never comes. We sneak off for a weekend getaway whenever we can. Sometimes you have to eat dessert first. I would look forward to an extended road trip though, as adventure and seeing new places is a strong lure.
Russ