Retirement too early ?

[superal]

I read an article about a lady who had suffered age discrimination since her late 40s . Then in her early 60s started her own cosmetics company aimed at older ladies and the business rocketed to a multi million dollar empire . All because she had a free reign to express her talents and experience which had previously been subdued by previous employers .

             The article then went on to reveal the global trend of potential retirees working on into their 60s  70s  80s  and even 90s  .  The  main point being made was the valuable work life experience being tapped into and those who continued to work beyond their normal mark . 

I reckon there will be quite a few TV members who either regret retiring too early or would love to have passed on their skills / experiences  to younger folks .

Tis strange cos I still receive job offers by email but if they knew I am in my 70s they would not bother mailing . I did one time follow an offer up where the job spec was very high and not really obtainable by a young guy but when my age was found out  all correspondence ceased . 

I look forward to your opinions on early retirement and any regrets .

[PFMills]

No regrets...took VSS in 1993 aged 48. A few months later did contract work full time for GEC Alston.

 

Received index linked pension when age 50.

 

Continued with Alston and later with their client and later still reduced my hours. Finished in 2005 completely

 

Got married in 2002 and she came straightaway to live in UK.

 

Spent time golf..gym..travel etc

 

2007 came to live full time in Thailand and doing the same things.

 

I enjoyed working in the Electrical Supply Industry but don’t miss it at all. The biggest thing that I miss about the UK is sitting in the garden of a pub having lunch.

[johng]

Some businesses do see the value of older experienced employees..if they are fit for the job and want to work then why not hire them..I would     what I object to though is "governments"   enforcing a retirement age  an ever increasing age, when I started work it was 60 years old for retirement  so 44 years of working and paying taxes...but now they want me to work to 70+ years old before being "allowed" to retire and claim the pension I paid for.

[rumak]

7 minutes ago, superal said:

           The article then went on to reveal the global trend of potential retirees working on into their 60s  70s  80s  and even 90s 

When i reach 90 i already have a plan for my next business : Wheel chair tours ! 

"Hey Harry !  Remember when we used to come here with Noi and Porn ?  " 

"Yeah,  why the hell this tour don't take us to Soi 6 ! "

" Things have changed Harry.  Even the name.  Now called  Pattaya by the Sea .  I hear they

have a nice aquarium"

"Screw that.   Bring me to the fish bowl ! "    ????????

 

 

[Don Chance]

When you run out of money and unable to work. You will wish you saved/worked more.

 

Problem is a lot of people will not want or feel healthy enough to work in their 60's, that's why they call it retirement. Mental decline is a major. Also you won't want to risk your last saving on a business that might fail.

Lastly inflation could be killer, if you don't invest your saving, even worse losing your investment...

[BritManToo]

1 hour ago, superal said:

I reckon there will be quite a few TV members who either regret retiring too early or would love to have passed on their skills / experiences  to younger folks .

Wrong, I retired age 45, and wished I'd left work earlier.

Been enjoying doing nothing for the past 20 years now.

 

Better to have some fun before you hit the wheelchair.

Edited September 18, 2020 by BritManToo

[statman78]

I retired at the right time (62). I was asked to stay longer but I could see that the company was going through some radical changes.  I enjoyed my past position because of the travel and the ability to meet many people in different countries. If I was working now I would be stuck working from home while going crazy. 
 

I still consult with with my old company attending phone conferences and doing research about 10-15 hours per month while living here in Thailand.

[worgeordie]

I cannot understand people who want to keep on working when they

have more than enough money to be living the good life.

I would probably been dead already if i had still been running businesses

back in the UK, retired 33 years ago when i thought i had enough to retire

on,no regrets, hard work never killed anyone...somebody was lying.

 

Imagine trying to run a business into days World,bloody hard.

regards worgeordie

 

[cmarshall]

1 hour ago, Don Chance said:

When you run out of money and unable to work. You will wish you saved/worked more.

 

Problem is a lot of people will not want or feel healthy enough to work in their 60's, that's why they call it retirement. Mental decline is a major. Also you won't want to risk your last saving on a business that might fail.

Lastly inflation could be killer, if you don't invest your saving, even worse losing your investment...

Deflation has been declining since the early 80's.  Globalization of trade has resulted in an ocean of liquidity in the world.  German bunds currently offer negative yields at all maturities out to 30 years.  It's time to get over the fear of inflation that the 70's put into you.  

 

Ps.  If your assets are in one currency while your liabilities are in another currency risk is likely to dwarf inflation risk.

 

[statman78]

52 minutes ago, worgeordie said:

I cannot understand people who want to keep on working when they

have more than enough money to be living the good life.

I would probably been dead already if i had still been running businesses

back in the UK, retired 33 years ago when i thought i had enough to retire

on,no regrets, hard work never killed anyone...somebody was lying.

 

Imagine trying to run a business into days World,bloody hard.

regards worgeordie

 

I know a number of people who have plenty of money but they continue to work.  They love what the do.  

[JAS21]

31 minutes ago, cmarshall said:

Deflation has been declining since the early 80's.  Globalization of trade has resulted in an ocean of liquidity in the world.  German bunds currently offer negative yields at all maturities out to 30 years.  It's time to get over the fear of inflation that the 70's put into you.  

 

Ps.  If your assets are in one currency while your liabilities are in another currency risk is likely to dwarf inflation risk.

 

That is so very true ... I aim to keep about a 50-50 split. When the house in Thailand was bought the exchange rate was 72thb per 1gbp!  It is difficult to forecast RPI in the long term and now even more so...

Edited September 18, 2020 by JAS21

[rumak]

2 hours ago, superal said:

I reckon there will be quite a few TV members who either regret retiring too early or would love to have passed on their skills / experiences  to younger folks .

I also "retired"  around 45 .  (though i have been self-employed most of my life, and as self-sufficient

as one can be in today's world.)   I do have to babysit a few of these younger folks when they rent from

us.   Seems the idea of learning any skills (like watering a plant or replacing a light bulb)  or learning

from my experiences ( speak thai,  how to avoid pitfalls in Thailand)  is not in their interest. 

 

I have to say, they seem perfect for the New Normal :   stay inside,  on computer,  order from Grab).

I do not find that lifestyle fits me..... and so far have bobbed and weaved through the meteorites of

post covid big brotherhood.   

 

Definitely no regrets for living it my way.  Freedom for me has always been number 1 ,  even if i do not

have the nice pension check to compensate for punching a clock for 40 years.  

[superal]

13 hours ago, statman78 said:

I know a number of people who have plenty of money but they continue to work.  They love what the do.  

Sooooooo true

[robertson468]

17 hours ago, worgeordie said:

I cannot understand people who want to keep on working when they

have more than enough money to be living the good life.

I would probably been dead already if i had still been running businesses

back in the UK, retired 33 years ago when i thought i had enough to retire

on,no regrets, hard work never killed anyone...somebody was lying.

 

Imagine trying to run a business into days World,bloody hard.

regards worgeordie

 

Retired from the Army at the Age of 44, then retired from the Civil Service at the age of 60, then came to lovely Thailand and built a small Resort, which I gave to my Thai Wife and still help her to run the place (get payment in kind!).  Love to potter around the place and meet and interact with new people, some of whom now return year after year and have become our friends. Wouldn't change it for the World, but hey ho, we are all different, thank goodness.

[allanos]

Saw some interesting research yesterday.  It may be of interest to those who are presently invested, or may be looking to invest.  A chart displayed a matrix along a linear graph, running from bottom left to top right, showing reward/risk for 4 different asset class options: bonds (treasuries), gold, stocks (the S & P), and

Bitcoin (BTC).

 

As one would expect, bonds were fairly safe, although not 100% safe, but offering the lowest reward.  Further up the slope was gold, higher risk with higher reward.  At the top of the graph was the S & P, an even higher reward potential, but a higher risk still, with a 40% chance of losing money.

 

Lastly, BTC, where the research examined the position of someone who put 1% of their funds into BTC, and 99% into cash, cash being a kind of neutral investment because the small interest one can derive from it is largely off-set by inflation.  Now, here's the kicker:

 

This last option had the LOWEST risk of all of the asset classes, and the HIGHEST reward.  For those who are worried about BTC volatility, it is negated by the bulk of the holdings in CASH.  BTC has been the best performing asset class this year, and for the previous 10.

 

Just sayin' . . .

 

 

Edited September 19, 2020 by allanos
typo

[VBF]

20 hours ago, johng said:

Some businesses do see the value of older experienced employees..if they are fit for the job and want to work then why not hire them..I would     what I object to though is "governments"   enforcing a retirement age  an ever increasing age, when I started work it was 60 years old for retirement  so 44 years of working and paying taxes...but now they want me to work to 70+ years old before being "allowed" to retire and claim the pension I paid for.

I presume you're British?

I am and that's how the State Pension is "evolving" in UK. I was promised mine at 65, but after several decades of work, the government "adjusted" the pension age - now I shall get mine at 66. Personally I call that FRAUD - if a private company tried it on there'd be hell to pay, but it's OK for the government to do it! ????

 

In my case I still retired at 58 - only because I was fortunate enough to be able to afford to do so. And despite having an interesting "career".......it wasn't a moment too soon!

 

IMO...one works to live, NOT lives to work! ????

Edited September 19, 2020 by VBF

[1FinickyOne]

38 minutes ago, allanos said:

 

Lastly, BTC, where the research examined the position of someone who put 1% of their funds into BTC, and 99%

using 1% of your funds is barely investing and BTC has not been around long enough to have any valid results... 

and since 99% of your results are the equivalent of cash, the differential between 100% cash is miniscule... 

 

something seems quite off in your figuring... 

[1FinickyOne]

44 minutes ago, allanos said:

BTC has been the best performing asset class this year, and for the previous 10.

Even better than betting it all on Butterball in the third at Belmont? 

[AlfHuy]

19 hours ago, BritManToo said:

Wrong, I retired age 45, and wished I'd left work earlier.

Been enjoying doing nothing for the past 20 years now.

 

Better to have some fun before you hit the wheelchair.

at 46.

[sanuk711]

20 hours ago, superal said:

I reckon there will be quite a few TV members who either regret retiring too early

Quite a few...I don't think so, but if so, certainly not me.

Retired at 50 (would have been earlier if I didn't have to give the ex a house. I find it great living here the last 20+ years , now in my 70s....just got back from a massage, I feel very lucky to be able to live here.

[allanos]

using 1% of your funds is barely investing and BTC has not been around long enough to have any valid results... 

and since 99% of your results are the equivalent of cash, the differential between 100% cash is miniscule... 

 

 

You're too quick to show how clever you are.

Clearly, 1% is illustrative, and is used simply to reassure those concerned about volatility.  If one has a higher risk profile, then an

amount invested in Bitcoin can obviously be higher, with the cash amount reduced proportionately. My own holdings in BTC are

around 10-12% of my total wealth. The truth of the situation is still that the BTC/ cash ratio in the illustration shows the best return/risk of all the asset classes discussed. 

I figure investment returns over a ten year timeline is sufficient to prove a decent track record. Others may disagree.

It's horses for courses, after all. Good luck with your investment on Blue Butter in the three-thirty!

[Stevemercer]

The dream employee has the energy of old age and the wisdom and experience of youth. Or is it the other way around?

[Nout]

Retire as soon as you can if you can afford it.

[DaLa]

There is no right or wrong to this, as each of us will have had completely differing circumstances leading to our individual decision.

 

At 67 I have taken the middle ground. That is, (up until C-19 created a hiatus) I worked in the Uk for 2-3 months on my own business and then 4 months here and a 10 hour per week input into my wife’s business.

 

Gives me plenty of time to fit my life around my business, keeps the old grey matter ticking over, and it's quite physically demanding in the UK.

 

Suits me. All the best to those that took alternative routes.

[Antonymous]

I’ve always kept a diary. When I was 19, end of first year at university, I wrote down my objectives and plans for my life. Although the details of my career turned out to be quite different from what I envisaged, the two biggest objectives never changed through my life and they both came to fruition:

 

1.    To retire at age 50. That is, to stop working for a living and to spend time doing whatever made me happy including hobbies and new adventures.

2.    To stay single and not to even consider marriage until I am retired.

 

It is what I always wanted and so I am very happy that I engineered my life accordingly.

 

Obviously you shouldn't consider retirement 'early' if you don't have sufficient savings and investments, or other sources of income. I'd also add that you shouldn't consider stopping your work if you are someone who has few if any other real life interests or ambitions outside of your career. That applies to some people.

 

I know quite a few people who have plenty of money and even many non-work interests, but who choose to continue working for other reasons, principally:

 

- they feel they have something important to contribute to the world through their work, or want to build and leave a legacy,

- they are in love with power and money,

- they have dependents who are in love with power and money!

 

 

[JWRC]

20 hours ago, statman78 said:

I know a number of people who have plenty of money but they continue to work.  They love what the do.  

Quite right, and for a percentage of people, it's nothing to do with the money, It's more the challenge, or the enjoyment obtained either from the job, meeting people, or just simply feeling useful. 

[1FinickyOne]

2 hours ago, allanos said:

 

Clearly, 1% is illustrative, and is used simply to reassure those concerned about volatility. 

you mean like when BTC went from 19,000 to 3,200 in a year... why? are there any fundamentals behind this? 

 

2 hours ago, allanos said:

Others may disagree.

and still others have no idea what it is or how to turn it into actual money if you have it... can my wife use it at the grocery store? What % of the population know what it is? At least Tesla makes cars... if BTC disappeared tomorrow, what would the world lose? 

[BritManToo]

3 hours ago, JWRC said:

Quite right, and for a percentage of people, it's nothing to do with the money, It's more the challenge, or the enjoyment obtained either from the job, meeting people, or just simply feeling useful. 

More like a lack of imagination IMHO.

[khunPer]

On 9/18/2020 at 1:29 PM, superal said:

I look forward to your opinions on early retirement and any regrets .

I moved to Land-of Smiles in 2005 when I was 56, and I have so far no regrets, but I do wonder how I ever I got time to work...????

 

However, I think that a major factor for a succesful early retirement is realizing when "enough is enough", and that "enough" is enough for sometimes some little extra on top of everyday life; i.e. Land-of-Smiles might not be so smiling, if you run too low on funds. So the "enough is enough" is a balance to find; i.e. you might not be able to buy happiness for money, but it's a little more pleasant to be unhappy in the backseat of a Rolls Royce.

 

In my own case I could have worked another 10-15 years, saving up little more money – earlier I had no intention of stop working just because I reached 70 – but I thought: »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?« No, visits to Thailand had changed my view of life: »I am single, no ties are holding me; enough is enough…!« 

 

Lucky I was, getting rid of my little disc manufacturing business when it was still attractive for some to take over – but I kept my music publishing rights – and I sold my property at home on almost a peak in the end of 2006, just before the financial crisis. Had I waited another two years, then a lot of my financial foundation for the move would have gone, only recently property prices where I lived are back up in the level that I sold for. Had I waited till the financial foundation was re-earned, I would have lost 10-15 of my best years.

 

I'm very happy with my decision...????????

[sharksy]

On 9/18/2020 at 2:02 PM, worgeordie said:

I cannot understand people who want to keep on working when they

have more than enough money to be living the good life.

I would probably been dead already if i had still been running businesses

back in the UK, retired 33 years ago when i thought i had enough to retire

on,no regrets, hard work never killed anyone...somebody was lying.

 

Imagine trying to run a business into days World,bloody hard.

regards worgeordie

 

Trouble is, how do you know when you have enough?  Life has a way of changing your expectations.