POLL: Retired people -- at what age did you retire?

[1FinickyOne]

On 12/7/2019 at 7:35 AM, OneMoreFarang said:

I like to ask how many guys here worked hard all their life without enjoying life at that time?

Was it worth it for you to spend the best 30 years working and then retire as an "old" man? Would you do it again in the same way?

I have a friend from childhood who thinks I never worked because I always did what I wanted... and yes, that often included different businesses where I worked more and less hard... retired for good age 48 - but still "working" at managing investments... 

[Jingthing]

38 minutes ago, BritManToo said:

Disagree with your conclusion.

My view, guys still wanting sex with younger and attractive partners move away from the western world.

 

The motivations are not mutually exclusive. 

[Pedrogaz]

Me 54 yo. I hated work but would have worked until 58 if I had the opportunity but I was part of a cull of 10% of the workforce. They payout from my private pension is much reduced but given the low inflation and the fact that it is earned in dollars means that it hasn't devalued much in terms of purchasing power.

 

I have no concerns about money (that keep me awake at night) until I get to 80, and none for the rest if my life if my first wife dies (I still pay alimony of about $4000 a month). MY concern is for how my significantly younger wife will fare on what I am able to leave to her when I carc. I would like to be fair to all my dependents but if I live a long life, I am afraid that there will be not enough to go around.

[soalbundy]

57 because my firm had a generous early retirement system

[lopburi3]

As US federal retirement allows those under the 'law enforcement' umbrella to retire at age 50 did so.  That was 27 years ago so seems to have been a good call.  

[Oztruckie]

Driving back to Perth one afternoon from Kal,quiet road,<deleted> all traffic,lots of time for thinking about things,my super account was at a healthy sum thanks to the government,good accountant,and being PTY Ltd co,I decided there and then time to retire,was 62 yo,was a great job but don't miss the 16 to 18 hour days.

[Oztruckie]

19 hours ago, OneMoreFarang said:

Some are scumbags, but some are not too bad.

And getting advice from the bankers like "buy Lehman Brothers" is also not such a good idea.

CGW you must be related to my accountant, the words he uses to describe financial planners,you could never ever use in this forum.

[DrPhibes]

On 12/7/2019 at 8:34 AM, bkk6060 said:

Well, who works 365 days a year?

Most jobs afford holidays and vacation so enjoying life while working is certainly attainable. It was for me.

I personally do not think age 50 is an "old man".  In fact, the past 15 years have been the best of my life.

Monetarily, physically, and sexually.

Yes, I would work my 30 years again in a second.  But, maybe I was lucky I enjoyed my job and obtained a great retirement.

 

Left a higher paying engineering job to go self-employed in the early 90's at a career where I work 3 mo a year (ya but it is truly work, eat ,sleep, repeat).  Now that career pays higher than a second level Aerospace Engineering Mgr and is still 3 mo/year.  Have seen and done 4 lifetimes worth stuff since leaving engineering because of that choice and technology allowing me to be anywhere on the planet for the 9 mo.  Rich or poor, there are only so many heart beats.  Miss engineering, but the trade off can't be beat.  Now in my early 60's with teens and a toddler (when you marry 20 yrs younger...), kinda did things backwards with no regrets. ???? Plenty of time to retire when I'm dead!

Edited December 8, 2019 by DrPhibes
more content

[murraynz]

I retired at 62.5yrs.

Was self employed since age 20,always working very long stressful hours, minimal holiday's. Then 3 times A year to Thailand, bought condo 4yrs ago.. Now 68.

I had to start again at 44 after divorce. 

I get small Nz pension, but have substantial property investments. I'm very healthy, so intend to have a fantastic life, especially next 10 yrs. 

My advise to young people... 

Have regular holidays, make good investments, retire about age 50.

Keep active and healthy..

I can't think of much worse than being cash poor,for 25+ yrs of retirement. Keep healthy. 

Thailand is great place to retire, but I can return anytime to Nz or aus if anything changes.. 

[sidjameson]

1 hour ago, Jingthing said:

The motivations are not mutually exclusive. 

True, but very few people even move from expensive parts of their own country to cheaper parts to save money. They'd rather just cut their cloth and stay put. 

The effort in moving 1000kms then would seem strange. Except when you consider the males desire for sexiness.

 

[murraynz]

Reply to previous post.. I know many people who work over 360 days per year and very long hours.

Self employed people don't get paid statutory days off, or 40hrs per week. I lived like that, but it's not really worth the sacrifices. 

 

[allenberg]

On ‎12‎/‎7‎/‎2019 at 8:34 AM, bkk6060 said:

Well, who works 365 days a year?

Most jobs afford holidays and vacation so enjoying life while working is certainly attainable. It was for me.

I personally do not think age 50 is an "old man".  In fact, the past 15 years have been the best of my life.

Monetarily, physically, and sexually.

Yes, I would work my 30 years again in a second.  But, maybe I was lucky I enjoyed my job and obtained a great retirement.

 

+1

[Jingthing]

22 minutes ago, sidjameson said:

True, but very few people even move from expensive parts of their own country to cheaper parts to save money. They'd rather just cut their cloth and stay put. 

The effort in moving 1000kms then would seem strange. Except when you consider the males desire for sexiness.

 

In the U.S. that definitely is NOT true!

Of course most Americans don't expatriate but making a move for retirement domestically is very common. 

Of course whether the move is to a more or less expensive place depends on people's wealth level. Often older people will sell their big house and move into a smaller place in the same region as well. Also warmer weather is a huge factor. Which is why in the U.S. the top retirement destinations are in the Sunbelt (and the U.S. south and southwest is generally the lower cost part of the country). Of course excluding California and the Midwest is lower cost as well, but has cold weather. 

Edited December 8, 2019 by Jingthing

[wwest5829]

OK, I am a little tired telling the story so I apologize if I bore anyone ... again. Yo, you can just scroll by, y’know. Age 58, 5 by-passes. Evidently colesterol issues run in the paternal male line (Dad one of ten male siblings they all died of heart attacks as had his Farther and Grandfather). By 64 1/2, (2011) I thought I could retire if I moved to a lower cost country. Sold all property and moved to Chiang Mai. Happy here overall since. Had a heart attack here 2015 (evidently scar tissue at the by-pass sites). It was a matter of balancing out the considerations ..... 

[wwest5829]

20 minutes ago, Jingthing said:

In the U.S. that definitely is NOT true!

Of course most Americans don't expatriate but making a move for retirement domestically is very common. 

Of course whether the move is to a more or less expensive place depends on people's wealth level. Often older people will sell their big house and move into a smaller place in the same region as well. Also warmer weather is a huge factor. Which is why in the U.S. the top retirement destinations are in the Sunbelt (and the U.S. south and southwest is generally the lower cost part of the country). Of course excluding California and the Midwest is lower cost as well, but has cold weather. 

Figured I could have had a rusting trailer in Arizona or Florida or move to a country like Thailand, Ecuador, Panama, the Philippines for a better living standard.

[wwest5829]

2 hours ago, BritManToo said:

Disagree with your conclusion.

My view, guys still wanting sex with younger and attractive partners move away from the western world.

 

I’m thinking it is more than just the sex (certainly not to be excluded). Moving here was like stepping back into the 1950s. Male = responsible for financial income stability. Female = takes care of her man and children (granted big job). Ideal might be in finding a traditionally raised female, sterile, orphan.

[newnative]

   I retired at 53 but then worked another 5 years part-time before moving to Thailand with my Thai partner.  Never made a large salary with my state job in the US but it does have a good pension--something that is becoming rarer in the US.  Took SS at 62 and definitely no regrets with taking it early--or retiring early.  With the COLAs I have received with the pension and SS, my yearly income now is larger than when I worked my last year full-time--although if I was still working that would not be the case, of course.  

   I like to keep busy and my partner and I are enjoying doing condo flips--which we also did in the US to earn some extra money.  Although my yearly income is still small, it's enough to live comfortably here in Thailand.  We have a good life here and have no plans to return to the US to live.

[TigerandDog]

 for me 64. had to due to health reasons. Had been diagnosed with terminal prostate cancer in Dec 2012. Had prostate surgery mid 2014 and post op biopsy showed the cancer had spread. Was given use by date of 3 - 5 years. Had some treatment to slow down the spread and got lucky. By the end of 2015 was cancer free, and now enjoy life to the fullest. Every day I wake up is a bonus.

[khunPer]

At age 55 to 57 I slowed down over a short period to sell off, both my small self-employed business and private property before my move to LoS.

 

Earlier I never thought that I would stop before I was way over 70, and probably much older, until I experienced a Bounty-style tropical coconut island, and realized that I had always worked too hard for too little, and paid too much to the taxman...????

When is enough, enough?

 

As other have mentioned, you need some funds to be able to retire earlier than any government or SS pension can be paid, the questions is how much you need, and what lifestyle you expect? Seemed like my savings could buy little more pleasure in LoS than staying at home and work, so enough was enough, and it luckily showed to be true.

 

I had mainly saved up in bricks and mortar, i.e. property, which unfortunately in my home country is just another item to tax hard – especially as it's immovable across borders for lower taxation unlike labor – so when I realized that some fellow countrymen lived in LoS a whole year for what I spend in heating during a winter, I should be able to live fairly well if I also included the taxes...????

 

The money I got with me from my property was replaced with a kind of (affordable) dream house; not that I didn't have a nice place at "home", but the replacement was even better...????

 

It's 15 years ago now that I made my decision about little earlier retirement, 10 years earlier than the official 65-years age in my home country – I'm then in the category "you are retired but work part time but you could still stay retired without that income", which is very little, just keeping a business with some tiny ongoing investment-income surviving in my home country – and so far I haven't regret it...????

[khunPer]

On 12/7/2019 at 1:35 AM, OneMoreFarang said:

I am not retired and I can't afford to stop working for some time.

But most of my life I didn't work all day. I make less money than I could because I take it easy and don't stress myself.

Two hour lunch - no problem. First meeting 10:30, lets enjoy that coffee first.

I realize that that is not possible in every job and sometime I have to work 10 hours a day to get things done. But not all the time.

I like to ask how many guys here worked hard all their life without enjoying life at that time?

Was it worth it for you to spend the best 30 years working and then retire as an "old" man? Would you do it again in the same way?

I have always worked much for little money only – always like having two jobs, which I also often had – and even some of the work was chosen because I wished it, and it was fun, other periods was just for surviving, and not fun at all.

 

Was it worth it?

In a way YES, and in a way NO.

 

Yes, I did work with something exiting that I liked and learned from – the money was not at all the driving factor – but I also had very difficult periods where I worked hard just to survive, both my self-employed business and private. The latter was not worth it compared to the fun life I missed at that time. However it was also worth it, because it later made my little early retirement possible, where I catch up with the fun and life I lost.

 

Exactly the thoughts of "old" man was "it" for me – i.e. as I wrote in my Thaivisa-profile: »Is it worth working so hard to pay high taxes, and only save up a little? And when I’m finally old enough to retire, and enjoy my tiny savings, I may be too old to enjoy?« – I luckily managed to get out before I was to old to enjoy...????

[Caldera]

I retired at age 26, just after finishing university. I knew that I didn't need to work, but I wanted to have a good education just in case. Two years later, I discovered Thailand.

[khunPer]

22 hours ago, BritManToo said:

23 hours ago, Jingthing said:

Advice to younger people -- pick a work field that you love.

Advice to young people .... pick a field of work that makes you a lot of money.

You are both right, and it's an utterly difficult balance – I talk from experience...????

[brokenbone]

2 hours ago, sidjameson said:

True, but very few people even move from expensive parts of their own country to cheaper parts to save money. They'd rather just cut their cloth and stay put. 

The effort in moving 1000kms then would seem strange. Except when you consider the males desire for sexiness.

 

i think flight reflex from the

 

 

720 × 540

 

320 × 320

ice cold hell is the strongest primal force there is

Edited December 8, 2019 by brokenbone

[owenm]

5 yrs ago, I retired early at 56 yrs, 12 mths after contracting Legionnaires Disease and Pneumonia from BKK, which at the time only gave me 10% chance of survival when I was treated in ICU in Oz.. Complicating my situation was a chronic RA condition affecting my immune system.. Knowing my father died at 56yrs, got me thinking. And myself getting over a divorce from my Thai ex of 7 yrs, I decided that life is very short and retire to LOS.. 

 

I had funds from sale of property and superannuation private pension to set me up, or so I thought.. 5 yrs ago 30bht to AUD, and now 19.6thb to AUD and my funds have been evaporating faster than I anticipated.. To be eligible for Oz aged pension, I need to wait till I'm 67yrs and have to be resident in Oz for MINIMUM 2 yrs before the OAP becomes portable.. 

 

Currently on Non-Imm O-A, which is due for extension in March 2020, I've decided to return to Oz still with a reasonably healthy superannuation balance, and improves health, and if I can find work, consider working for the next few years. At 61 yrs may prove to be a challenge.. 

 

I do still have enough funds to buy outright a property in country Victoria or Central Queensland for AUD 150k, but no where near enough to consider Melb or Syd where medium prices are AUD 850k to 1 mill.. At least Queensland has a similar climate to Thailand, and with my Medicare and my private health insurance, health issues won't be a financial issue.. 

 

So my choice was either to keep 800k Thb permanently in a Thai bank account and continue to deplete my funds which wouldn't last until OAP, or rethink to plan B, returning to Oz, replenish my funds and hopefully own a property again outright, which can be rented out in the future earning some additional income.

 

And if in 6 yrs time, then reconsider my future retirement plans.. Rent is very expensive in Oz, and for a retiree on future OAP to consider renting would be a crazy move.. So at least having a roof over my head would definitely be a plus, and many living expenses are now cheaper in Oz due to the poor AUD and the over valued Thb.. So I've opted for my plan B, back downunder very soon..

 

I have enjoyed my past 5 yrs in Thailand and travelling around the region, but I don't want to see myself being forced from Thailand in the future and forced home penny less because I didn't have a plan B.. 

[4MyEgo]

On 12/7/2019 at 11:35 AM, OneMoreFarang said:

Was it worth it for you to spend the best 30 years working and then retire as an "old" man? Would you do it again in the same way?

I suppose if you call 55 old, I would do it the same way.

 

I could have retired at 47 after suffering a heart attack, but I thought hey this is a wake up call, and I took a year off, put my plan into place and decided retirement at 55 was achievable if I worked harder, I kept investing and if I survived, it would be good and it all went to plan.

 

One of the investments quadrupled, so at 55 I sold up, and now enjoy the fruits of my labor, which I have done for over the past 4 years living here.

 

50% of my money is invested in a tax free environment and I make on average enough to meet all of the outgoings per month, so it might cost me 10,000 baht or so per month to live here in total, with the other 50% of my money in the bank earning very little, that said, the bank money is my back up money.

 

Although I did retired 4 years ago, some clients still email me, or call me asking me to do some work for them from here, it might take me an hour for around 8,000-10,000 baht, and I pay 32.5% of that in tax back home, something better than nothing I suppose, I take it more so out of what goes around, comes around, a sort of pay back to them for seeking me out and finding me to do their work as opposed to going elsewhere, it all helps and with a large family, it pays for those annual trips back home, but that is slowing down after 4 years, not that I mind, as my original intention was to retire in which case I am 98% retired.

 

Even though I worked very hard all those years, retiring on a good 6 figure salary that most wouldn't give up because they have given their power to the oh mighty $, but if they really enjoy what they are doing and their large mortgages to keep up with the Jones, well good luck to them, but it was enough for me, as I saw friends younger than me that were just getting comfortable in life dropping like flies, with me almost being another statistic with the heart attack at 47 as mentioned above.

 

Everybody has a different approach, and I know people who are multi-millionaires, I am talking 10's of and hundreds of millions of $'s (clients) who are in their mid 60's - 70's who are still going hard at it work wise, whatever floats their boat, as long as their happy, but seldon stop to take a holiday and believe it or not complain to me because of where I am, go figure ?

 

Like it says below, I am where I want to be.....well, until the powers above make more changes which will force me to perhaps return to my homeland, plan B always in place, but for now, will keep enjoying waking up when I want, sleeping when I want, watching movies when I want, travel when I want, and eat what I want, well at least till the smoke season starts or another heart attack comes my way ????

 

Edited December 8, 2019 by 4MyEgo

[allanos]

3 hours ago, Oztruckie said:

CGW you must be related to my accountant, the words he uses to describe financial planners,you could never ever use in this forum.

Didn't Warren Buffet say that these people are called "brokers" because they are broker than you are?

[allanos]

3 hours ago, murraynz said:

I retired at 62.5yrs.

Was self employed since age 20,always working very long stressful hours, minimal holiday's. Then 3 times A year to Thailand, bought condo 4yrs ago.. Now 68.

I had to start again at 44 after divorce. 

I get small Nz pension, but have substantial property investments. I'm very healthy, so intend to have a fantastic life, especially next 10 yrs. 

My advise to young people... 

Have regular holidays, make good investments, retire about age 50.

Keep active and healthy..

I can't think of much worse than being cash poor,for 25+ yrs of retirement. Keep healthy. 

Thailand is great place to retire, but I can return anytime to Nz or aus if anything changes.. 

Robert Kiyosaki says it best that "most people spend their working lives planning on being poor during retirement"!

[The Man Who Sold the World]

60 years old by choice

 

During my working years I squirreled away 10% of my income into tax deferred and tax exempt retirement accounts.

 

That plan worked like a charm. Retired at 60 because thats what I wanted to do. No more meetings, projections, milestones or deadlines. Now just living the life.  

[Number 6]

7 hours ago, cmarshall said:

I think our boomer generation (I'm an okay Boomer!) was similar to our parents in that we lived in fear of the return a particular economic disaster that never did come back.  For our parents that was the Depression, while for us it was the high inflation of the 70's.  So, I think fear of inflation is irrational.  Fear of the Japanization of the US economy is somewhat more to the point.  The graph below shows the trend for real interest rates for the past 800 years.  The current cusp of negative interest rates is right on trend.

 

Good luck.  I hope your plan works.

 

https://economics.rutgers.edu/downloads-hidden-menu/news-and-events/workshops/money-history-and-finance/1823-paulschmelzing?format=html

 

Funny, I see inflation everywhere. It's just hidden. Prices are definitely rising here in Thailand and back home but I track what's here because that's where I live.

 

The quality of goods is pretty much <deleted>. After 2010 there was definitely a leg down. Bigger box less contents. Finally all the central banks inflated the money supply so that essentially cheapens the value of the fiat currency. The US Fed is at it again as a matter of fact.

 

I'm tail end of Boomer generation but other than a few music genres don't really fall into that category very directly.

 

I made a plan to get the hell out of the rat race as soon as possible. Honestly, I would have done another five years but I was made redundant.

 

I had a real novel system of grabbing sweet IT contracts work them into the ground then bolt to Asia. Leave cheap. Rinse repeat. I'd stay with friends, family, strangers sleep on couches during my probation period then find a roommate. On my last gig I had it so well planned that I left my job on Friday. Vacated apartment on Saturday and was on a plane to BKK Sunday. No cash burn staying in spendy apartment alone, fixed expenses looking for jobs...

 

Had some nice cars when I was young but gave up that lifestyle. Chasing things... Most valuable thing in the world is to not be in debt, be your own man and to be free.

 

Having said that I know it's selfish and 5* to all the Dad's out there doing the grind for their kids.

 

The plan works because I'm fine with the outcome. It's been a great life. I had my late 30s half time work and not employed 9 of ten years in my 40s. That's life gold. Camping islands and living in Pattaya in arguably it's heyday 2003-07.

 

But thanks.

 

But if you're saving until you have enough - you'll never have enough. Something else I leaned when I was late 20s. Working really big money job. One more year, one more! Car too a dump, bunch of other problems. I literally broke even that year. If I sold my car and went to Africa I would have had a year in Africa essentially free.

 

Edited December 8, 2019 by Number 6

[cmarshall]

5 hours ago, Jingthing said:

In the U.S. that definitely is NOT true!

 

Apparently, it is true.  Only about 5% of retirees relocate.  The media talk about good places to retire all the time, but it's just buzz.

 

https://www.cnbc.com/2015/11/06/most-retirees-stay-put-but-those-who-move-head-here.html