dcsimg The Get Rich Slowly Forums • View topic - When is it time?

  GRS Home  Forum Home
Bank Rates Center
   Savings Account Rates
   Money Market Rates
   Highest CD Rates
Insurance Rates Center
  Auto           Health
   Life              Home
Mortgage Rates Center
  Mortgage Rates
  Mortgage Quotes

Last visit was:
A place for Get Rich Slowly readers to ask questions
and exchange ideas
It is currently Thu Mar 05, 2015 4:59 am




Post new topic Reply to topic  [ 6 posts ] 
Author Message
 Post subject: When is it time?
PostPosted: Wed Feb 27, 2013 5:39 pm 

Joined: Sat Dec 10, 2011 7:25 am
Posts: 851
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?

_________________
RayinPenn

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


Top
Offline Profile E-mail   
 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?

_________________
Drew


Top
Offline Profile E-mail   
 Post subject: Re: When is it time?
PostPosted: Mon Apr 21, 2014 11:05 pm 

Joined: Sun Jan 06, 2013 10:30 pm
Posts: 155
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.

_________________
http://www.theexpatinvestor.com/


Top
Offline Profile E-mail   
 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.


Top
Offline Profile E-mail   
 Post subject: Re: When is it time?
PostPosted: Mon Jun 02, 2014 7:20 am 

Joined: Fri Mar 14, 2014 4:10 am
Posts: 148
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".


Top
Offline Profile E-mail   
 Post subject: Re: When is it time?
PostPosted: Sun Feb 15, 2015 7:19 am 

Joined: Thu Sep 25, 2014 12:25 pm
Posts: 52
RayinPenn wrote:
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?

I was in this position many years ago though I have never owned a car and in Finland(Europe) 97% of students never consider a study loan... but as disadvantage we have higher tax then USA and cars/fuel is really expensive in Finland.

I very quickly noticed that if I have no debt this save save save money that you posted in a other thread does not work for me. If I have no debt I start to spend money like a crazy then you can multiply my expenses and I am serious about this.

People are different and please do not try to change me. Today I am landlord in Finland(Europe) and I don't live on rent and I rent 3 apartments to other people.

Since in my mind I remember that I have debt totally roughly between 150 000-200 000 euro I am in the mode of living with your life style i.e save money pay of debt etc.

My passive income is more then 1500$/month and this is not my total income only the real estate extra income. I think for me to retire I want roughly something between 2000-3000$ extra income/month.

As for your situation. Eh I really can not judge you and tell what is best for you, but while we do not share equals views at investing I do admire your commitment of saving money.

As for my wealth most of my wealth I have built myself though I would be a liar to say that me, my brother and my sister would have not had a benefit that we had a father that was a very well paid doctor 8) . Despite working many years as an IT employee I have never got even near so much salary that a well paid doctor can do...


Top
Offline Profile E-mail   
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 6 posts ]  Moderators: kombat, bpgui, JerichoHill, Fiscal Fitness Moderator


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Theme created StylerBB.net & kodeki