Retiring very early... at 35-45.
Discussion
I don't know if I'll ever retire to be honest. Cut work down to a certain extent, definitely, but completely retire? I doubt it. I want to be living somewhere I like (Bermuda) but I want to be interacting with people, earning a little bit of money to keep me going, and generally having a nice work:life balance!
SlackBladder said:
Sat at my desk reading this has really got me thinking.
I'm the same age at 48 with a 2 year old daughter, so number one priority is her education. We have a property here with a small mortgage and we also have a nice property with pool in the Philippines. The private schools near our house in the Philippines are very good, so WTF am I doing sat here when I could be sat with a cold beer by the pool over there.
The dilemma is do I sell up here which would give me enough to retire on, allowing for a new car every 4 years or so, a couple of holidays a year and a modest standard of living or do I rent my place out here and live off the income that generates.
Oh for a crystal ball, if I sell up here would I ever be able to afford to come back if I wanted to given the way the property market is going. Alternatively, if the market crashes will I be laughing if I want to come back as I'd have potentially sold at the right time.
Oh for a crystal ball!I'm the same age at 48 with a 2 year old daughter, so number one priority is her education. We have a property here with a small mortgage and we also have a nice property with pool in the Philippines. The private schools near our house in the Philippines are very good, so WTF am I doing sat here when I could be sat with a cold beer by the pool over there.
The dilemma is do I sell up here which would give me enough to retire on, allowing for a new car every 4 years or so, a couple of holidays a year and a modest standard of living or do I rent my place out here and live off the income that generates.
Oh for a crystal ball, if I sell up here would I ever be able to afford to come back if I wanted to given the way the property market is going. Alternatively, if the market crashes will I be laughing if I want to come back as I'd have potentially sold at the right time.
Always going to be a risk - I just decided to it, you only live once!
What surprises me is that more people don't decide to do it. You can easily live well out here, and Bali isn't cheap in comparison to a lot of other places, on £1k a month. Or less in fact - if you needed to you could rent a studio flat type thing (which is how a lot of Indonesians live) for under £100 per month, a scooter for £30/mth and eat very well and cheaply on under a fiver a day.
Yes there's no free Heathcare but for most ailments you can see a doctor and get prescriptions very cheaply - £3 for a course of antibiotics. You don't need to heat your house, petrol is subsidised and beaches are great. We stayed up in the hills in a home stay last week in a nice room with aircon and amazing balcony view for £11 including breakfast.
My wife did meet some Greeks out here who were using their unemployment benefit to live, in their opinion, a much better quality of life than in Greece currently.
A mate of mine is 42 and semi-retired a couple of year ago.
Mortgage free, rental income on 5 properties (modest ones, not tatty low end stuff) plus income from the business he built.
He periodically pops into the office to check things are okay, not a lot more.
Spends his time cycling, canoeing, walking and paddleboarding. I think he's happy. Two young sons, in a position that him and his other half both take them to school and both pick them up.
I don't think he's bored.
Mortgage free, rental income on 5 properties (modest ones, not tatty low end stuff) plus income from the business he built.
He periodically pops into the office to check things are okay, not a lot more.
Spends his time cycling, canoeing, walking and paddleboarding. I think he's happy. Two young sons, in a position that him and his other half both take them to school and both pick them up.
I don't think he's bored.
I can think of two guys who retired in their mid 50's without any interests and wealthy enough never to have to do stuff by themselves. You really have to have thought it through to retire very early as the OP suggests.
Those guys are as boring as FluK.
Conversation is always the same, they forget the answer to something they asked the day before as they have the attention span of a goldfish, and the two visits to the pub each day ( lunch / then early doors ) is their only routine.
One conversation went like this - 'Jim, have you thought about an allotment'...< No - have you seen the price of a gardener !!!! > He missed the point it was suggesting he might get his hands dirty and get active.
It reinforces the fact that early retirement should mean moving onto a variety of stuff that you want to do, whether it is semi-retirement to include some work, or a complete change of activity away from full time work, otherwise look forward to people avoiding you and a very lonely lifestyle.
Gone are the days retirement meant pipe and slippers and 5 years before you croak. It should mean a new life beginning straight away.
( Me ? Widowed and retired 4 years at 65 having done my bit, still doing a few hours part time self employed tax paid architectural consultancy, gardening, housekeeping, a weekly art class and monthly life drawing class, french conversation class, reading modern history and Viz, cinema, weekly pub quiz, going to live rock gigs, a MeetUp supper club with 'ma b
hes' and a blat in the Caterham when the sun shines. )
Those guys are as boring as FluK.
Conversation is always the same, they forget the answer to something they asked the day before as they have the attention span of a goldfish, and the two visits to the pub each day ( lunch / then early doors ) is their only routine.
One conversation went like this - 'Jim, have you thought about an allotment'...< No - have you seen the price of a gardener !!!! > He missed the point it was suggesting he might get his hands dirty and get active.
It reinforces the fact that early retirement should mean moving onto a variety of stuff that you want to do, whether it is semi-retirement to include some work, or a complete change of activity away from full time work, otherwise look forward to people avoiding you and a very lonely lifestyle.
Gone are the days retirement meant pipe and slippers and 5 years before you croak. It should mean a new life beginning straight away.
( Me ? Widowed and retired 4 years at 65 having done my bit, still doing a few hours part time self employed tax paid architectural consultancy, gardening, housekeeping, a weekly art class and monthly life drawing class, french conversation class, reading modern history and Viz, cinema, weekly pub quiz, going to live rock gigs, a MeetUp supper club with 'ma b
hes' and a blat in the Caterham when the sun shines. )BryanC said:
( Me ? Widowed and retired 4 years at 65 having done my bit, still doing a few hours part time self employed tax paid architectural consultancy, gardening, housekeeping, a weekly art class and monthly life drawing class, french conversation class, reading modern history and Viz, cinema, weekly pub quiz, going to live rock gigs, a MeetUp supper club with 'ma bhes' and a blat in the Caterham when the sun shines. )
Now, that is retirement, (although the widower-bit is unfortunate). Enjoy!hes' and a blat in the Caterham when the sun shines. )In general the more successful you are at something (including business or work of whatever sort) the more you enjoy it (because people enjoy feeling successful) and the more you enjoy it the less likely you are to give it up (because things you enjoy are worth endlessly repeating).
If you enjoyed doing something which you were provably very good at why would you give up doing it?
If you enjoyed doing something which you were provably very good at why would you give up doing it?
drainbrain said:
In general the more successful you are at something (including business or work of whatever sort) the more you enjoy it (because people enjoy feeling successful) and the more you enjoy it the less likely you are to give it up (because things you enjoy are worth endlessly repeating).
If you enjoyed doing something which you were provably very good at why would you give up doing it?
New challengeIf you enjoyed doing something which you were provably very good at why would you give up doing it?
IE start ups
Just my two penny's worth but throwing it all in to retire at a young age is probably going to great if you are running towards something but will probably unsuccessful if just running away from something.
If just running away from something and it doesn't work out there is always the option of trying something else.
Of course there will be exceptions both ways.
If just running away from something and it doesn't work out there is always the option of trying something else.
Of course there will be exceptions both ways.
wisbech said:
Is your wife Indonesian? We were tempted to do this (as my wife is Indonesian) but just got offered a job in Singapore that looks interesting enough to delay this for another 5 years. One issue is visas - if you want to be in Bali with all the proper paper work (vs fly in fly out) it is a hassle.
My father retired at 51 but reviewed academic papers to keep his brain active. He loved retirement, and would certainly have left mid-early 40's if he could afforded to.
I think introverts have an easier time being retired than extroverts. He was happy reviewing papers, fishing, playing computer games etc. whereas my extrovert mother had to go find "jobs" (secretary of local clubs, volunteer in charity shop, meals on wheels driver etc)
Hi - yes she is. From Timor originally, educated in Java and moved to Bali about 6 years ago.My father retired at 51 but reviewed academic papers to keep his brain active. He loved retirement, and would certainly have left mid-early 40's if he could afforded to.
I think introverts have an easier time being retired than extroverts. He was happy reviewing papers, fishing, playing computer games etc. whereas my extrovert mother had to go find "jobs" (secretary of local clubs, volunteer in charity shop, meals on wheels driver etc)
If your wife is an Indo citizen you will be able to get a family visa so it's not so bad. No hassle to fly to Singapore every now and again for a visa run. I have single or unmarried friends that live here and they head off every two months to somewhere different - flights usually no more than £100 - for a weekend or week and get another one or two month tourist visa on way back in to Indo.
I would say I'm very much an extrovert - was out all the time in London, big circle of friends etc. I'm actually enjoying staying at home, reading etc and potterimg about locally. I've quite surprised myself! Also drinking way less....in fact two beers last night left me quite tipsy and with a hangover this morning....
drainbrain said:
If you enjoyed doing something which you were provably very good at why would you give up doing it?
To spend more time with your loved ones, to have more time to do other things you like, to travel and experience new things, to learn new skills and take on new challenges.johnwilliams77 said:
drainbrain said:
In general the more successful you are at something (including business or work of whatever sort) the more you enjoy it (because people enjoy feeling successful) and the more you enjoy it the less likely you are to give it up (because things you enjoy are worth endlessly repeating).
If you enjoyed doing something which you were provably very good at why would you give up doing it?
New challengeIf you enjoyed doing something which you were provably very good at why would you give up doing it?
IE start ups
I tried early retirement after a 15 year career I sales and marketing. After a few years of trying various things I ended up working for my old company part time as a coach and mentor for all the new sales and marketing people. Using my experience and knowledge to help develop other people is more rewarding than being successful in role for me.
I retired at 42. Went back to work after 6 years as got utterly bored.
I am of the opinion that a man needs a mission. Watching what goes on at home (which is sweet FA) and being witness to the lazy lifestyle of a wife that complains how tough it all is doesn't do a marriage much good either. Kids who think you're unemployed - which is quite funny.... Nope, retiring early was not good for me.
Although everyone is different, I would urge any young person who's sold a business (for example) to keep working.
I am of the opinion that a man needs a mission. Watching what goes on at home (which is sweet FA) and being witness to the lazy lifestyle of a wife that complains how tough it all is doesn't do a marriage much good either. Kids who think you're unemployed - which is quite funny.... Nope, retiring early was not good for me.
Although everyone is different, I would urge any young person who's sold a business (for example) to keep working.
BryanC said:
I can think of two guys who retired in their mid 50's without any interests and wealthy enough never to have to do stuff by themselves. You really have to have thought it through to retire very early as the OP suggests.
Those guys are as boring as FluK.
Conversation is always the same, they forget the answer to something they asked the day before as they have the attention span of a goldfish, and the two visits to the pub each day ( lunch / then early doors ) is their only routine.
One conversation went like this - 'Jim, have you thought about an allotment'...< No - have you seen the price of a gardener !!!! > He missed the point it was suggesting he might get his hands dirty and get active.
I know some people who are employed. They are so dull. All they ever talk about is work. Work, work, work. No ones cares about what do during their work day but still they drone on and on about it. They have the same routine every day. Get up, go to work, come home. It's as though their work defines who they are and they have missed the point about having a life outside mere employ. Those guys are as boring as FluK.
Conversation is always the same, they forget the answer to something they asked the day before as they have the attention span of a goldfish, and the two visits to the pub each day ( lunch / then early doors ) is their only routine.
One conversation went like this - 'Jim, have you thought about an allotment'...< No - have you seen the price of a gardener !!!! > He missed the point it was suggesting he might get his hands dirty and get active.
My simple view is that if you can retire early you should do so - you only have one life, this isn't a rehearsal where you can do it better the next time around.
Clearly, it's only going to work if you know that you have plenty of interests to keep you busy. If you really can't think of anything then you might as well keep working.
Clearly, it's only going to work if you know that you have plenty of interests to keep you busy. If you really can't think of anything then you might as well keep working.
Robertj21a said:
Clearly, it's only going to work if you know that you have plenty of interests to keep you busy. If you really can't think of anything then you might as well keep working.
Don't you think it's possible to have plenty of interests, take up new challenges, start up new ventures, learn new skills, spend as much time with your loved ones as they and you want, travel to the point of being bored with it, experience new things and plenty more too WITHOUT withdrawing from whatever you call work?Well it probably isn't if you're employed, but if you're self employed it certainly is if that's how you want to arrange it. Personally I would hate to lose all the interactions which come with a working life which blends seamlessly into the personal and non-working areas of life too.
Robertj21a said:
My simple view is that if you can retire early you should do so - you only have one life, this isn't a rehearsal where you can do it better the next time around.
.
Exactly this, after attending the funerals of three friends in their late 40's / early 50's over a 2 year period, who were all previously fit, healthy and active people, my wife and I decided to retire 4 years ago at 51. I guess we were lucky in that we could afford to do so. .
We havn't looked back, and certainly don't know how we managed to fit full time jobs into our schedule. I can't imagine many people in their final moments thinking they wished they had worked a bit longer/harder.
NDA said:
I retired at 42. Went back to work after 6 years as got utterly bored.
I am of the opinion that a man needs a mission. Watching what goes on at home (which is sweet FA) and being witness to the lazy lifestyle of a wife that complains how tough it all is doesn't do a marriage much good either. Kids who think you're unemployed - which is quite funny.... Nope, retiring early was not good for me.
Although everyone is different, I would urge any young person who's sold a business (for example) to keep working.
You mentioned kids in passing and that's quite an important factor to me. If you want them to go through normal schooling (wherever in the world), then during school times you're restricted to home life in some form. That'll suit some more than others. If you're into an active lifestyle (surfing, skiiing, mountain biking...) then retiring somewhere where you can step out the door and do it makes a lot of sense.I am of the opinion that a man needs a mission. Watching what goes on at home (which is sweet FA) and being witness to the lazy lifestyle of a wife that complains how tough it all is doesn't do a marriage much good either. Kids who think you're unemployed - which is quite funny.... Nope, retiring early was not good for me.
Although everyone is different, I would urge any young person who's sold a business (for example) to keep working.
The other issue is where your investments are (or aren't). Interest rates are useless right now, and unless you bought property a few years back I'd not want to put my money there for the moment. The amount you need to be set for life is not getting any smaller.
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