How to retire at 55 instead of 65 or 70.

[ovrszd]

HEY,,, enough with Missouri. Some really good people live here.

 

[4570Man]

When you retire do so with the intent to live. Not just exist. I have a once close friend who does nothing but sit at home and tend a small garden. I don't know what he does in the winter. Watch soap operas I guess. I'm about to go nuts having to stay in due to weather and caution with this hernia surgery recovery.

RSKY

I don’t understand why anyone would want to do that. I couldn’t handle it. Lucky for me if my projects keep piling up on at their current rate I’ll never live long enough to finish them.

 

[Doofy]

I never realized "Missouri" could be used as a threat!

 

[Old Red]

Do you all really think eating dining out really makes that big of an impact on saving for retirement. I have friends who just sweat going out to eat socially because it kills them to spend 20 bucks on dinner. I just can't imagine giving that up...and when I go to a restaurant I get what I want. Just a thing with me I guess....when I order meals for the office I make 100% certain that there will be leftovers. I despise portions and people worrying about not getting enough. I want everyone to be able to eat twice if they want to. So I say go ahead, get the lobster rolls...go ahead, upsize that meal....5 bucks here and there should not make or break retirement. A car will, a credit will, an expensive home will....anything with a payment attached to it....but please, enjoy your dinner, and please enjoy your iced tea or fruity drink....it won't hurt you financially to not drink water.

 

[cat fever]

I'm a little late to this thread, but here's my :2cents:. All good info by the way.

Save more than you spend.

A great man once said "There are two kinds of people on the earth, those who pay interest and those who collect it". Other than my house I've always been the one who collected interest.

Not that anyone can predict it, but, a divorce really hurts a savings plan most of the time. No divorce here and going on 32 years. I got a good one.:laughing:

I think some people think retirement means sitting in the rocking chair watching reruns. I am going to retire at the end of this month at 55. My plans are to move and get more land and raise cows (20-30) to keep me active and busy. If I'm not busy doing something that needs to be done I'll help my brother on his ranch or a local rancher. My wife and I have narrowed down our search to southwest Wyoming. I have not met anyone thats lives where we are looking but they'll sure be glad when we get there because I enjoy the ranching/farming kind of work and will help out for free just to be part of it.

I have lived well below my means for a very long time, it's time to play now! I only have 10 more shifts of work left and while my job has provided a very good income, retirement and savings plan I'll be glad to hang it up and let some young guy struggling to make ends meet have my job. Some of my upper managers have ask me to consider staying longer. Well, I just smile. They know the answer.

 

[4570Man]

Do you all really think eating dining out really makes that big of an impact on saving for retirement. I have friends who just sweat going out to eat socially because it kills them to spend 20 bucks on dinner. I just can't imagine giving that up...and when I go to a restaurant I get what I want. Just a thing with me I guess....when I order meals for the office I make 100% certain that there will be leftovers. I despise portions and people worrying about not getting enough. I want everyone to be able to eat twice if they want to. So I say go ahead, get the lobster rolls...go ahead, upsize that meal....5 bucks here and there should not make or break retirement. A car will, a credit will, an expensive home will....anything with a payment attached to it....but please, enjoy your dinner, and please enjoy your iced tea or fruity drink....it won't hurt you financially to not drink water.

I think if going out to eat occasionally ruins your retirement you’ve got deeper issues, but if done every night at $20 for 40 years it’s $292,000.

 

[3Ts]

I have had a scare recently. My mother is 93-years old and shall we say.....headstrong. Still drives, still mows her yard, and still looks over my shoulder telling me I'm doing it all wrong when I try to fix something at her place. Usually I find out something needs fixing a month after she has made it worse by trying to fix it herself. The stories I could tell.

So a couple Sundays ago, at Sunday lunch, one of my daughters said I was, "as stubborn as Mamaw".

The conversation went downhill from there, with the sons-in-law knowing to stay quiet, and I was informed that unless I improved my attitude they were already shopping for a rest home to put me in.......in Missouri.......four hours away.

Said they would visit me at least once a month. Maybe more if I minded what they told me to do.

Children these days.

Hopefully that will be years in the future.

I've also seen Mamaw be stubborn with a bad attitude. She wanted to leave a "loving legacy" but instead alienated the whole family. Those who tried to help her and pointed out the situation were further berated. They've already picked out the rest home. So, my purpose in this post is to point out that "you need to learn from other's mistakes, because you'll make enough on your own", that's a quote from my dad I try to follow.

 

[cat fever]

I think if going out to eat occasionally ruins your retirement you’ve got deeper issues, but if done every night at $20 for 40 years it’s $292,000.

I have my wife convinced that a whopper from burger king is fine dining. :laughing:

 

[RSKY]

I've also seen Mamaw be stubborn with a bad attitude. She wanted to leave a "loving legacy" but instead alienated the whole family. Those who tried to help her and pointed out the situation were further berated. They've already picked out the rest home. So, my purpose in this post is to point out that "you need to learn from other's mistakes, because you'll make enough on your own", that's a quote from my dad I try to follow.

Our problem is that she would spend every penny she has on grands or greatgrands but won't spend anything on stuff SHE needs. She is also highly resistant to any change. But call her and ask if she can be over in fifteen minutes to go to a Chinese buffet and the tires will be squealing as she turns in the driveway before you hang up.

At 89 she got off her Ford 4600 and told me that was her last year bushhogging. Hurt her knees to bad crawling up on that tractor.

Her driving is good. She seldom gets over 55. But when it is time to turn she doesn't slow down much. Blinker blinks twice and you better be braced, she is turning. My wife has actually banged her head on the side glass during a left turn.

Both of my sons-in-law say that if there ever is a SHTF meltdown of the country they are heading to Mamaw's house because she knows how to survive. And she does.

RSKY

 

[RSKY]

HEY,,, enough with Missouri. Some really good people live here.

I WAS kinda fond of Missouri........until they beat UK in basketball today.

Oh well, rebuilding year.

RSKY