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A place for Get Rich Slowly readers to ask questions
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It is currently Wed Oct 22, 2014 9:31 pm




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 Post subject: When is it time?
PostPosted: Wed Feb 27, 2013 5:39 pm 

Joined: Sat Dec 10, 2011 7:25 am
Posts: 776
You've played by the rules - saved, invested, worked hard and you're there. No mortgage, car loans or any kind of debt. You know how much the pile grows each month and it's nothing to sneeze at.

How do you know when it's time to call it a day? And retire?

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RayinPenn

“If you tell the truth, you don't have to remember anything.”
― Mark Twain


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 Post subject: Re: When is it time?
PostPosted: Sun Jan 26, 2014 1:46 pm 

Joined: Sun Jan 26, 2014 11:49 am
Posts: 38
You simply do the math.

How much do you have? How much do you need to take out every year? What rate is the "pile" earning?

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Drew


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 Post subject: Re: When is it time?
PostPosted: Mon Apr 21, 2014 11:05 pm 

Joined: Sun Jan 06, 2013 10:30 pm
Posts: 150
I would say depend on your personal goals and if you have any hobbies that you would like to try out. For me I would like to travel someday and do some volunteer work oversea at different countries. I am thinking maybe sometime next year that I would like to try that out for a couple of month. I have been saving and investing, so I am prepare to explore a new culture and look at different perspective. I am pretty sure I can return back to work elsewhere but as long as you’re not in too much debt, maybe you can explore other options too.

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 Post subject: Re: When is it time?
PostPosted: Tue Apr 22, 2014 3:55 am 

Joined: Sun Jan 05, 2014 1:44 pm
Posts: 72
I think it's important to figure out ahead of time how much you need/want to retire and stick to it. Lots of people get caught up in the "one more year" mentality just for the sake of adding more money to the pile. There is no point in accumulating so much wealth and never enjoying it.


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 Post subject: Re: When is it time?
PostPosted: Mon Jun 02, 2014 7:20 am 
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Joined: Fri Mar 14, 2014 4:10 am
Posts: 65
The idea of retiring depresses me; even just the word, to "retire" away. If the idea of leaving your job makes you happy, then why not compromise and instead of retiring, just leave your job and do something else that makes you not want to retire. It sounds like you can afford to do anything you'd like, even if it's only part-time minimum wage. If you feel you want a break and can afford it, intentionally take 3-6 months between jobs and rejuvenate or spend time learning about your next endeavor. Take on seasonal gigs if you don't feel like permanently committing to something.

I made the decision at 30 that I was going to forever "retire" from having jobs that don't align with my personal talents and values, just for the salary. I would rather work longer at something I enjoy for less money, and I feel I've made smart decisions early on in order to afford to make that call now. The older I get the more I can relate to the cliche'd little saying "Life is a journey, why not enjoy the ride".


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