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Author Topic: Retired life, not how it was described to me..  (Read 1356 times)

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Online mike_belben

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Re: Retied life, not how it was described to me..
« Reply #20 on: October 21, 2021, 01:54:28 PM »
i got stop lossed for the war in iraq, when your date to get out turns to a row of zeros.  being a POW of your own military gives you a new perspective on the value of comfort verse freedom. when i finally could get out (at 23) i said im never gonna work for anyone again and went into business. i was very good at my craft but the Lord has never wanted me to amass much money and i understand why now. 

debt and relationships forced me to take a j-o-b lifeline for 9 years longer than i planned, ten total.  walking out of the fur lined factory handcuffs at 36 was a little scary, everyone said i was crazy to leave but i kept my mind on that stoploss and stuck to the plan, get away from this wicked society and its dependance on a decaying dollar. i routinely get rid of dollars as quickly as i can any time they come in.  every real thing i own continually climbs in replacement cost and i have abundance.  i rarely leave home for anything.  even in rough times my cup runneth over.  

my plan is to do whatever the Lord wills one day at a time until my days are up, and i dont particularly care when that is.  its very liberating.  i hope to live and die gracefully. 


Isaiah 63:10

Offline SawyerTed

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Re: Retied life, not how it was described to me..
« Reply #21 on: October 21, 2021, 03:52:52 PM »
Having a retired life better than working life takes planning and commitment for sure.  Being able to retire at nearly equal or greater net income than working net income ensures that your lifestyle won't have to take a hit at retirement.  My pension net income is within $100 dollars of my working income net.  It was worth $100 to get rid of the work expenses, commuting expenses, clothing expenses, BS etc.  I came out ahead.  My wife's net pension is within $200 of her working net.  We more than make up the monthly difference with little time and effort. 

Learning to say no to things that I don't want to do was hard.  It comes easier after a while.

Making plans and sticking to them is important too.  It is easy to say, "We are retired we can go to (fill in the blank) later, let's stay here for so and so's birthday.  The danger is you never get back around to planning the trip.
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Offline Downstream

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Re: Retied life, not how it was described to me..
« Reply #22 on: October 21, 2021, 10:17:11 PM »
This is an excellent running commentary.  More real life info and comments vs canned retirement commentary from somebody trying to sell you investments/etc.  One of my follow-up comments supports these last few posts about the financial side of things.  My life changed back in the early 90's when I read a book called the "Millionaire Next Door"  Basic concept is focus on your growing net worth not your income.  Too many high income professions like Dr/Lawyer also come with a high consumption, keeping up with the Jones side to it that actually prevents many from significantly increasing their net worth.  I was on that path becoming a director in my company at the age of 30 making very good money, but also living in a McMansion, driving a Porsche 911, eating out and traveling with my wife.  Came across a business issue where it was either go along and get along or do the right thing and probably lose it all.  Did the right thing and lost most of it, but realized we do not ever want to be in that position again.  Sold the house, cars and re-booted the career at half the salary.  So for over 25 years we have operated debt free with no car payments, boat payments, no credit card payments, very small mortgage, rarely ate out, put in a garden. etc.   Pretty much the same game plan that Dave Ramsey came along a decade or so later talking about.  We lived like no one so that later we could live like no one else.  As I climbed back up the corporate ladder  we stayed in the cash only game saving and investing so that we would always maintain the freedom to walk away on our terms.  No debt is the key to personal freedom.  Part of the reason we ended up back in Illinois after spending the winter in TN is that real estate has gotten so crazy expensive down there that we found that we could not live debt free in that market so we headed back north although we plan to visit often and maybe keep an eye out for some remote land for later.  Can't stress it enough that do everything you can to stay out of debt, save ahead, and pay cash. 
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Offline Magicman

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Re: Retied life, not how it was described to me..
« Reply #23 on: October 22, 2021, 08:43:52 AM »
I was 'downsized' out from BellSouth after working 32+ years when I was 51 years old.  They then penalized my buyout by 24% because I was less than 55 years old.??  Why/how?  It was their house and their rules.  Next I was offered to contract back to my job, same office & more pay.  I told them to "stick it".

During the next 3 years we drove/ferried to 49 states and all of the Canadian Provinces.  That plus I built the Cabin.  After completing the Cabin I continued with my carpenter work and started having beetle killed SYP logs milled to help with my material expenses.  Then it dawned on me that the sawmill guy was making many more $$ sawing than I was building.  

I told PatD that I was gonna buy a sawmill.  She asked with what and I said I donno.  You have never even seen a sawmill operate so how will you know what to do?  I donno.  How you gonna pay for it?  I donno.  Who you gonna saw for?  I donno.  Where are the logs coming from?  I donno.  

I had no computer so the Forestry Forum was unavailable to me so all of my 'learning' was by the 'seat of my pants'.  When something went wrong or I messed up, there was no one to call so I had to figure it out for myself, by myself.  Yup, I made mistakes but I was developing the log reading and sawing techniques that I use today.

The sawmill paid for itself that first year and I am completing my 21st year of sawing with well over 2 Million bf of lumber sawn.  So what is next?  LINK  I donno.  Yes I have drastically cut back and reduced my sawing, but jobs are there and the phone is ringing.  My vision is to saw 2-3 days every 2-3 weeks.  The problem is that I love sawing.

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Never allow your "need" to make money to exceed your "desire" to provide quality service.....The Magicman

Online mike_belben

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Re: Retied life, not how it was described to me..
« Reply #24 on: October 22, 2021, 09:25:03 AM »
Millionaire next door was a great underdog profile.   The big takeaway i recall was to be honest. 

And dont spend it before you earn it! Wish my wife would get on board and stop drooling through the glass at the yolo culture.  

Im surprised Visa hasnt come out with the YOLO card yet.
Isaiah 63:10

Online Ed_K

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Re: Retied life, not how it was described to me..
« Reply #25 on: October 22, 2021, 11:24:00 AM »
 You younguns listen to the "watch your net worth" it can come down on you hard. I was forced into retirement at 62 by cancer, I never planned on retiring I loved being a gypo logger. It was hard work but I stayed ahead of the banker by living inside my means. I worked for 14 yrs for a major nozzle company was in charge of a 5 axis cnc machining center. Kept 3 people each working on 3 shifts. I made good $$$ and every yr when the nickel raises came out it when into the 401. In Feb 1999 I quit drinking a month later I realized why I had been drinking and quit. Went to work logging was one happy camper, worked hard enough to get the equipment I needed to do the work even bought a band sawmill. 2016 the bucket o poop dropped on me and that 401 is gone. Wife worked at a candle company from 1995 till she retired Dec 31 2020. She is my only saving grace, if she hadn't scrimped an saved we'd be in a world of hurt. I truly wish I could go logging, there's days when I feel great and get the itch but she's right there to say lets take easy. I still have all the iron just in case. 
Ed K

Online mike_belben

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Re: Retied life, not how it was described to me..
« Reply #26 on: October 22, 2021, 11:31:41 AM »
I bet i know both companies and the crock of bull that comes with them.  Glad youre still with us Ed. 
Isaiah 63:10

Offline aigheadish

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Re: Retied life, not how it was described to me..
« Reply #27 on: October 22, 2021, 02:52:19 PM »
Retirement sounds pretty lovely. I'm still relatively young, at 44, with a couple of kids that are almost grown but who knows what'll happen with my newish wife, who doesn't have kids other than her beloved stepkids. I have a very comfy job and it pays ok but I've traded a grueling work environment for money and a job with a very nice environment, there is a cost involved in that and I was fortunate to do some crappy jobs when I was young, so I knew what a good job looked like. That being said my job is still a job working for the man, even though I love what we make. Part of me would love to either force myself or be forced into early retirement as I think I'd be much happier doing something for myself, but I have no idea what it is. I'm one of those who is ok at most things but great at very little, so it's tough for me to get inspiration from anything. 

Unfortunately, my dad passed away, unexpectedly, a few years back and left me a small but still substantial inheritance which has helped improve both mine and my family's lives. It's helped me be debt-free more quickly than I could have been otherwise, which, I agree, is the smart way to live. 

We'll see how soon I retire and it'd just be from the corporate world not from working. It sounds exciting to work for yourself but also terrifying. I've been extremely fortunate in my life and it's hard telling if that'd continue but it's mighty tempting to try.
New Holland LB75b, Husqvarna 455 Rancher, Husqvarna GTH52XLS, Hammerhead 250, Honda VTX1300 for now and probably for sale (let me know if you are interested!)

Online mike_belben

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Re: Retied life, not how it was described to me..
« Reply #28 on: October 22, 2021, 04:42:13 PM »
It is almost impossible to rid yourself of first world comforts. Youll cling to them despite the high cost month after month as years go by.  

Once theyre forcibly stripped and you spend some time in what starts off as crisis, it doesnt take too long to realize a lot of that junk was expensive baggage you can do without. I think the hardest part is not being able to predict whats on the other side of that fence until you cross it, and not being able to go back once youve crossed to stock up.

  Id have gotten so much more cheap metal up north if i knew what i do now. 
Isaiah 63:10

Offline thecfarm

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Re: Retied life, not how it was described to me..
« Reply #29 on: October 22, 2021, 06:10:05 PM »
I guess I am the odd one here. I would like to retire now!! But insurance I need now. I take a fist full of pills each morning and need help with the cost of them. Guess I will have to wait for Medicare or Medicaid.
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Offline 21incher

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Re: Retired life, not how it was described to me..
« Reply #30 on: October 22, 2021, 08:31:52 PM »
I will say insurance was the biggest bill. Over the first  12 years before  I hit retirement age we blew a little under 24k a year of our savings. That went to basics. Health insurance,  property taxes, home insurance  and auto insurance.  Also averaged  in there was 19.6k for a new car, vet bills, electric, my wife needed several  root canals and crowns plus home repairs.  My wife has about  9k a year retirement from her job and that all went to food, household supplies,  clothes, and gifts.  I also blew a lot on doubling the size of my pole barn, a kubota BX, sawmill, cnc plasma table, metalworking and woodworking machinery, a pontoon boat, dump trailer,  and weekly  trips to Harbor freight that was about another 100k but not really  required. So in the end we got to enjoy money  that would  have just been left to the kids anyway .  When we hit 62 and 5 months social security started  covering everything plus our property taxes dropped to 6.5k a year with the senior  discount. Then at 65 Medicare kicked in and we just need a supplement policy so life is good now and I still haven't had to hit our retirement plans. 
Our lives definitely  changed over that time with the best part being my wife  learned to cook. Instead of going out and buying an 8 dollar loaf of artesian bread she can now whip one up in a couple hours.  We have not been in a restaurant in over 10 years and she prepares healthier meals so we are better off. Then I learned to grow most of our veggies for the year from seeds. Also heated only with wood for the last 15 years and I have learned to do all home repairs. Built all furniture  we wanted from wood grown in the backyard also. No more cruises, camping,  or vacations on islands but we had enough when younger and every day now seems like a vacation. I would  definitely do it again. Being able to spend everyday the last 16 years enjoying life with my best friend was priceless.  Glad I spent most of my life saving  for old age that made it possible. Best part was not paying  one penny in income taxes for 12 years.
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