|
|
Post by JetRepulsion1 on Sept 9, 2021 9:43:33 GMT -5
I retired at 46 (less than 2 years ago). Best decision I ever made and don’t miss it for a fucking second. Not once. Never. And I didn’t even hate my job that much. How did you do that? I knew from the time I was 20 that I wasn’t working until 65. And I prepared as best I could. It wasn’t anything too crazy either - I was lucky and did make a great salary for a number of years, but I didn’t overextend myself. Trust me - I spent a lot too, but saved a lot as well. I didn’t skimp at all, but I bought a jet ski instead of a boat, an Audi instead of a Maserati, an affordable condo instead of an overpriced crazy expensive one. Again, I did spend an inordinate amount of money - mostly on entertainment and having fun. Going out, dinners, drinks, vacation, travel, etc., but nothing that caused me to have crippling debt. After years of saving/investing, the agency I worked for was sold to a British firm (for peanuts) and I took a buyout. It actually wasn’t that much and alone wasn’t nearly enough to retire on, but I was ready to call it quits. It was definitely the right decision and I’m so happy I was able to do it. I haven’t been bored for a second and do not miss working. Although Ive done a few consulting projects here and there since I left, but it’s not something I’m pursuing that much. Reaching retirement (early or late) is a pretty much a mathematical formula - while working, try to lower your expenses and increase savings and invest it in the market. Once your have a large enough nest egg (that’s in a diversified investment portfolio - stocks, bonds, cash), you can use 4% of that a year and it will last for 40 years (regardless of market conditions). For example, if you have a nest egg of 1,000,000 and your expenses are 40,000 a year, you can retire. If expenses are 80,000 a year, you’ll need a 2 million nest egg, etc etc. It’s a little more complicated, but that’s pretty much it. If you’re really interested in retiring early, although now it’s more “financial independence retire early” (FIRE) now, there’s a lot of resources on the internet. I recommend early-retirement.org and Mr.moneymustache.com Good luck! |
|
|
|
Post by Ff2 on Sept 9, 2021 10:38:28 GMT -5
I knew from the time I was 20 that I wasn’t working until 65. And I prepared as best I could. It wasn’t anything too crazy either - I was lucky and did make a great salary for a number of years, but I didn’t overextend myself. Trust me - I spent a lot too, but saved a lot as well. I didn’t skimp at all, but I bought a jet ski instead of a boat, an Audi instead of a Maserati, an affordable condo instead of an overpriced crazy expensive one. Again, I did spend an inordinate amount of money - mostly on entertainment and having fun. Going out, dinners, drinks, vacation, travel, etc., but nothing that caused me to have crippling debt. After years of saving/investing, the agency I worked for was sold to a British firm (for peanuts) and I took a buyout. It actually wasn’t that much and alone wasn’t nearly enough to retire on, but I was ready to call it quits. It was definitely the right decision and I’m so happy I was able to do it. I haven’t been bored for a second and do not miss working. Although Ive done a few consulting projects here and there since I left, but it’s not something I’m pursuing that much. Reaching retirement (early or late) is a pretty much a mathematical formula - while working, try to lower your expenses and increase savings and invest it in the market. Once your have a large enough nest egg (that’s in a diversified investment portfolio - stocks, bonds, cash), you can use 4% of that a year and it will last for 40 years (regardless of market conditions). For example, if you have a nest egg of 1,000,000 and your expenses are 40,000 a year, you can retire. If expenses are 80,000 a year, you’ll need a 2 million nest egg, etc etc. It’s a little more complicated, but that’s pretty much it. If you’re really interested in retiring early, although now it’s more “financial independence retire early” (FIRE) now, there’s a lot of resources on the internet. I recommend early-retirement.org and Mr.moneymustache.com Good luck! This is good advice. I tried to put about 15% annually of my earnings into the market at a young age, boring S&P 500 Index Funds for the most part. Put it in and forget it. I hardly looked at quarterly printed statements. I didn't spend a ton but never felt I was missing anything. Two other thoughts: Have fun, spend money on important things like family experiences, you'll never regret that, its whats money if FOR. And HEALTH IS WEALTH: nothing will matter if you're old and can barely move. Investing in your health is just as important. Maybe ever more so. Pick up a lifetime sport like tennis and start yoga NOW. Trust me. |
|
|
|
Post by Raoul Duke on Sept 9, 2021 11:30:18 GMT -5
I knew from the time I was 20 that I wasn’t working until 65. And I prepared as best I could. It wasn’t anything too crazy either - I was lucky and did make a great salary for a number of years, but I didn’t overextend myself. Trust me - I spent a lot too, but saved a lot as well. I didn’t skimp at all, but I bought a jet ski instead of a boat, an Audi instead of a Maserati, an affordable condo instead of an overpriced crazy expensive one. Again, I did spend an inordinate amount of money - mostly on entertainment and having fun. Going out, dinners, drinks, vacation, travel, etc., but nothing that caused me to have crippling debt. After years of saving/investing, the agency I worked for was sold to a British firm (for peanuts) and I took a buyout. It actually wasn’t that much and alone wasn’t nearly enough to retire on, but I was ready to call it quits. It was definitely the right decision and I’m so happy I was able to do it. I haven’t been bored for a second and do not miss working. Although Ive done a few consulting projects here and there since I left, but it’s not something I’m pursuing that much. Reaching retirement (early or late) is a pretty much a mathematical formula - while working, try to lower your expenses and increase savings and invest it in the market. Once your have a large enough nest egg (that’s in a diversified investment portfolio - stocks, bonds, cash), you can use 4% of that a year and it will last for 40 years (regardless of market conditions). For example, if you have a nest egg of 1,000,000 and your expenses are 40,000 a year, you can retire. If expenses are 80,000 a year, you’ll need a 2 million nest egg, etc etc. It’s a little more complicated, but that’s pretty much it. If you’re really interested in retiring early, although now it’s more “financial independence retire early” (FIRE) now, there’s a lot of resources on the internet. I recommend early-retirement.org and Mr.moneymustache.com Good luck! The Jets? good post besides that |
|
|
|
Post by 32Green on Sept 9, 2021 11:35:04 GMT -5
One more quick piece of advice is trying to minimize debt. once your credit is established. I've paid off three homes and my cars. We never spend what we dont have and dont pay credit card interest. In fact, my credit card points generate money to cover most of my flights.
Probably saved over a million in interest over the course of my marriage.
Not always easy, but well worth it.
|
|
|
|
Post by Big L on Sept 9, 2021 12:03:22 GMT -5
One more quick piece of advice is trying to minimize debt. once your credit is established. I've paid off three homes and my cars. We never spend what we dont have and dont pay credit card interest. In fact, my credit card points generate money to cover most of my flights. Probably saved over a million in interest over the course of my marriage. Not always easy, but well worth it. Three homes? How many cars? All that on an honest cops salary. Congrats. common |
|
|
|
Post by tkasper01 on Sept 9, 2021 12:17:14 GMT -5
One more quick piece of advice is trying to minimize debt. once your credit is established. I've paid off three homes and my cars. We never spend what we dont have and dont pay credit card interest. In fact, my credit card points generate money to cover most of my flights. Probably saved over a million in interest over the course of my marriage. Not always easy, but well worth it. This. Wifne and I went to see a financial guy about 5 years ago. Make sure we were on the right track. He was shocked to find we had no recurring debt, one mortgage and one, 3 year, car payment. He said most people in our bracket had 20k or more in debt. I was shocked. When we retire we will have cars that are paid off and less than 6 years old. No mortgage. If I can somehow get her not to stop at the fucking store EVERY day I might be able to make it. |
|
|
|
Post by Ff2 on Sept 9, 2021 12:51:45 GMT -5
One more quick piece of advice is trying to minimize debt. once your credit is established. I've paid off three homes and my cars. We never spend what we dont have and dont pay credit card interest. In fact, my credit card points generate money to cover most of my flights. Probably saved over a million in interest over the course of my marriage. Not always easy, but well worth it. Absolutely. I also hear horror stories about people in 50's taking our 2nd/3rd mortgages etc., falling further and further into a hole. There is "good debt" (as long as you know how you're going to pay it off.) But for the most part it's such a trap. Also, I just read the average car lease payment is $460 per month. Are people really spending that? Am I old and out of the loop or is that ridiculous? Old man shakes cane. |
|
|
|
Post by Big L on Sept 9, 2021 13:06:36 GMT -5
One more quick piece of advice is trying to minimize debt. once your credit is established. I've paid off three homes and my cars. We never spend what we dont have and dont pay credit card interest. In fact, my credit card points generate money to cover most of my flights. Probably saved over a million in interest over the course of my marriage. Not always easy, but well worth it. Absolutely. I also hear horror stories about people in 50's taking our 2nd/3rd mortgages etc., falling further and further into a hole. There is "good debt" (as long as you know how you're going to pay it off.) But for the most part it's such a trap. Also, I just read the average car lease payment is $460 per month. Are people really spending that? Am I old and out of the loop or is that ridiculous? Old man shakes cane. Last car payment I had was for $196 a month and I thought that was high. |
|
|
|
Post by 32Green on Sept 9, 2021 14:33:05 GMT -5
One more quick piece of advice is trying to minimize debt. once your credit is established. I've paid off three homes and my cars. We never spend what we dont have and dont pay credit card interest. In fact, my credit card points generate money to cover most of my flights. Probably saved over a million in interest over the course of my marriage. Not always easy, but well worth it. Three homes? How many cars? All that on an honest cops salary. Congrats. common Not all at the same time, you dick-sniffing, girly-dude. On my first sh*tty house (thanks to some good advice) I made extra payments towards principle every month until I paid it off nearly 15 years early. Also started off our marriage by paying off her CC's with part of our wedding money. 25 years later and we never carried a balance. If we didnt have it, we didnt spend it. When my wife got bonuses, the $ went right to the principle on car payments. Soon, saved enough to buy our cars for cash and never carried debt. on those. Little steps in the beginning pay off big in the end. Btw as a new cawp, I brought home $300 a week and was still able to save $$. |
|
|
|
Post by Big L on Sept 9, 2021 14:37:01 GMT -5
Three homes? How many cars? All that on an honest cops salary. Congrats. common Not all at the same time, you dick-sniffing, girly-dude. On my first sh*tty house (thanks to some good advice) I made extra payments towards principle every month until I paid it off nearly 15 years early. Also started off our marriage by paying off her CC's with part of our wedding money. 25 years later and we never carried a balance. If we didnt have it, we didnt spend it. When my wife got bonuses, the $ went right to the principle on car payments. Soon, saved enough to buy our cars for cash and never carried debt. on those. Little steps in the beginning pay off big in the end. Btw as a new cawp, I brought home $300 a week and was still able to save $$. $300 a week, plus what you took in on the side. Wink wink. Even though you’re a sandpaper cock rubber, we’re very alike. Pay off mortgage early with extra payments, no cc debt every month, and no car debt. |
|
|
|
Post by 32Green on Sept 9, 2021 14:50:58 GMT -5
Not all at the same time, you dick-sniffing, girly-dude. On my first sh*tty house (thanks to some good advice) I made extra payments towards principle every month until I paid it off nearly 15 years early. Also started off our marriage by paying off her CC's with part of our wedding money. 25 years later and we never carried a balance. If we didnt have it, we didnt spend it. When my wife got bonuses, the $ went right to the principle on car payments. Soon, saved enough to buy our cars for cash and never carried debt. on those. Little steps in the beginning pay off big in the end. Btw as a new cawp, I brought home $300 a week and was still able to save $$. $300 a week, plus what you took in on the side. Wink wink. Even though you’re a sandpaper cock rubber, we’re very alike. Pay off mortgage early with extra payments, no cc debt every month, and no car debt. Never a dime. Worst thing I ever did was when, as a youngin, I got sent out for prisoners meals (we used McDonalds as a vendor), by the time I got back, the prisoners were already gone (sent down to Central booking). Couple of us who hadnt gotten to eat yet scarfed down the burgers and shitty 'lil fries, laughing at our good fortune. Sergeant comes upon the scene and says "wtf are you assholes doing?" I tell him. He says Green, take up a collection, go to McDonalds, replace the fuckng food, find out where those prisoners are now and feed them, you asshole. So that was more an attempted theft than an actual one and effectively ended my attempt at being a corrupt cawp.  |
|
|
|
Post by JetRepulsion1 on Sept 9, 2021 15:27:24 GMT -5
I knew from the time I was 20 that I wasn’t working until 65. And I prepared as best I could. It wasn’t anything too crazy either - I was lucky and did make a great salary for a number of years, but I didn’t overextend myself. Trust me - I spent a lot too, but saved a lot as well. I didn’t skimp at all, but I bought a jet ski instead of a boat, an Audi instead of a Maserati, an affordable condo instead of an overpriced crazy expensive one. Again, I did spend an inordinate amount of money - mostly on entertainment and having fun. Going out, dinners, drinks, vacation, travel, etc., but nothing that caused me to have crippling debt. After years of saving/investing, the agency I worked for was sold to a British firm (for peanuts) and I took a buyout. It actually wasn’t that much and alone wasn’t nearly enough to retire on, but I was ready to call it quits. It was definitely the right decision and I’m so happy I was able to do it. I haven’t been bored for a second and do not miss working. Although Ive done a few consulting projects here and there since I left, but it’s not something I’m pursuing that much. Reaching retirement (early or late) is a pretty much a mathematical formula - while working, try to lower your expenses and increase savings and invest it in the market. Once your have a large enough nest egg (that’s in a diversified investment portfolio - stocks, bonds, cash), you can use 4% of that a year and it will last for 40 years (regardless of market conditions). For example, if you have a nest egg of 1,000,000 and your expenses are 40,000 a year, you can retire. If expenses are 80,000 a year, you’ll need a 2 million nest egg, etc etc. It’s a little more complicated, but that’s pretty much it. If you’re really interested in retiring early, although now it’s more “financial independence retire early” (FIRE) now, there’s a lot of resources on the internet. I recommend early-retirement.org and Mr.moneymustache.com Good luck! The Jets? good post besides that 😂 I haven’t spent a dime on these losers in a decade. I hate Met Death stadium (worst stadium in the league) and wouldn’t go unless the tix were free, they provided transportation and I was in a suite. Why didn’t the morons put a dome on net death to protect the fans from the sleet and rain and cold. It’s not like the Jets (or giants) have a home field advantage due to the weather. The Jets loose in all climates! 😂 |
|
|
|
Post by Hotman on Sept 9, 2021 16:03:19 GMT -5
$300 a week, plus what you took in on the side. Wink wink. Even though you’re a sandpaper cock rubber, we’re very alike. Pay off mortgage early with extra payments, no cc debt every month, and no car debt. Never a dime. Worst thing I ever did was when, as a youngin, I got sent out for prisoners meals (we used McDonalds as a vendor), by the time I got back, the prisoners were already gone (sent down to Central booking). Couple of us who hadnt gotten to eat yet scarfed down the burgers and shitty 'lil fries, laughing at our good fortune. Sergeant comes upon the scene and says "wtf are you assholes doing?" I tell him. He says Green, take up a collection, go to McDonalds, replace the fuckng food, find out where those prisoners are now and feed them, you asshole. So that was more an attempted theft than an actual one and effectively ended my attempt at being a corrupt cawp. I want to believe you... It sounds like ur telling the truth... also how far can you get on $300 month now? Also... when all the un-vazt and red team and religious folk are sent to the concentration camps first, you think the bosses are gonna have the new brighteyed Pvt Greens getting (and replacing?!) The Mickey Ds meals? Like the $300 i think we in a whole new brave world Respek Green 🤜🏾🤛🏾 |
|
|
|
Post by Hotman on Sept 9, 2021 16:05:43 GMT -5
The Jets? good post besides that 😂 I haven’t spent a dime on these losers in a decade. I hate Met Death stadium (worst stadium in the league) and wouldn’t go unless the tix were free, they provided transportation and I was in a suite. Why didn’t the morons put a dome on net death to protect the fans from the sleet and rain and cold. It’s not like the Jets (or giants) have a home field advantage due to the weather. The Jets loose in all climates! 😂 Just 10 years?! Lol I don't know for me but I do know not a dime since Tebow at least |
|
|
|
Post by Trades on Sept 9, 2021 16:38:26 GMT -5
I am in good shape monetarily but could always do better. Only debt is student loans and a mortgage. 51 years old and a good retirement fund but as much as I would like to I will be working a bit longer.
|
|
