Been thinking about retirement lately

[Calliers]

So lately I've been thinking a lot about retirement, and I have decided I am going to retire outside Canada. I don't want to retire here not because it isn't a lovely country, because it is, but mainly because I don't want to live a normalish life for the rest of my retired life. I want to live lavishly. And that can be done easily by living in South America, Asia or Africa. I have first hand experience with Africa more especially Southern Africa so I've decided it is going to be Namibia. Namibia is not only safe, they have good health care, a good policing system, good economy (knock on wood it stays that way) and are generally a successful country when compared to other African countries. Add to that that 1 CAD right now is worth 12.33 Namibian dollars and you see why I want to move there. I will live like a king.

I have also decided I am looking to retire around 55, not 65. F.I.R.E. movement baby... (Frugal living, Invest and save then Retire Early).

So, how about you guys, I know some of us are already retired, but for those of us who haven't retired yet, where do you want to retire to, and why? Also, are you on track for retirement? And if not are you in the process of making the necessary corrections to be so? Also btw, you can be as vague as you like when answering these questions if at all you choose to answer them.

 

And for those of you that are already retired, please do give us young whipper-snappers as much advice as you can!

[Lysandre, the Star-Crossed]

I figure I'll die before retirement age, so in all likelihood it's a moot point. If I do live that long, I'm going to party my ass off doing dangerous and possibly illegal shit until I bite it. Seriously, I can sleep when I'm dead...no rest for the wicked.

[Blue eyes white dragon]

I want to be retired already 

[Calliers]

Just now, Blue eyes white dragon said:

I want to be retired already 

See that's the thing, I don't just want to be retired, I want to be retired AND be able to drive a Porsche.

[Blue eyes white dragon]

Just now, Calliers said:

See that's the thing, I don't just want to be retired, I want to be retired AND be able to drive a Porsche.

That sounds fantastic right about now..

[Calliers]

51 minutes ago, Blue eyes white dragon said:

That sounds fantastic right about now..

IKR?

 

This is my dream car, the Porsche 911 Turbo S, in this color (this is the 2022 one):

 

 

[Lord Jade Cross]

For me personaly, I dont ever see it possible for me to do something like this because retiring implies that you had a decent enough influx of income during your working years and since day 1 that I started working, I have literally not being able to even have a stable entry of anything. 

 

Jobs have always cut my hours, or they "run out" as they put it, you can rarely, if ever get a 2nd job because everyone expects you to live off 14 hours a week at minimum wage, but be on call and at the ready 24/7. And IF you manage to get a 2nd job (dangerously teethering on needing a 3rd) you know you will literally be playing a psychological version of russian roullette. Basically, you can burn out, get fucked up at any moment (been there, felt that) and then its a setback of several years to try and get somewhere relatively closeby to how/where you were, if you can even manage it.

 

Retirement will come for me the same day death takes me away from this world

[Calliers]

You know, my best friend is a trust fund baby (he is the son of one of the richest families in Canada) and he always seems to have money, even now. Some people have it really easy lol.

 

I am not losing faith, I know I'll be fine, but like I said I want to be more than fine. I want to be pimping. That is why I want to live somewhere else.

[Lord Jade Cross]

Survival is the only option for me, but I suppose you could call it life since its been what Ive always had to do

[Anomaly Q3Xr]

I currently do not even know if I will be in a position to work again. Because I am on disability I am only allowed a certain amount in savings before it can affect the benefits I receive, and even when I was working I was in and out of jobs because of my poor mental health, so never been in a position to save for a pension or whatever it is people do. I currently just manage to get by on what I get on disability, and as of August that will be even harder as my energy bill it set to increase excessively. I know nothing about pensions in any case.

[ElloryJaye]

24 minutes ago, Calliers said:

See that's the thing, I don't just want to be retired, I want to be retired AND be able to drive a Porsche.

Personally, I'd rather be able to pay someone else to drive the damned car, because I consider driving a chore (your mileage may vary 🙃).  But I'll probably end up retiring in Canada. Namibia's too warm. 🥵

[Calliers]

2 minutes ago, ElloryJaye said:

Personally, I'd rather be able to pay someone else to drive the damned car, because I consider driving a chore (your mileage may vary 🙃).  But I'll probably end up retiring in Canada. Namibia's too warm. 🥵

That's why I'll have a pool. 😎

[uniQChick]

Is someone looking for a Porsche driver?

[Calliers]

3 minutes ago, uniQChick said:

Is someone looking for a Porsche driver?

Hahahahahahaha!!!!!! 🤣

[uniQChick]

I don't look that far in the future, I live and enjoy the present moment.  God is my provider!

[Calliers]

Just now, uniQChick said:

I don't look that far in the future, I live and enjoy the present moment.  God is my provider!

You remind me of one of my friends, God is her everything, and she doesn't worry about life too much (that's not to say she is terrible with money, she is also an immortal and owns her own house and is already retired) but she trusts in God for everything.

[kelico]

I started investing in my IRA maybe 5 years ago? I'm doing ok...but could definitely be doing better.

[uniQChick]

@Calliers I own my house as well, but retirement... First you need a job to retire from! 😂

[Calliers]

3 minutes ago, uniQChick said:

@Calliers I own my house as well, but retirement... First you need a job to retire from! 😂

LOL! I certainly hear you, it isn't enough to just own your own house.... it would be better to even have enough to rent a place and live till 90ish while not owning anything but maybe a car, than to own a house and not have anything to live on at all.... 🤓

 

1 minute ago, kelico said:

I started investing in my IRA maybe 5 years ago? I'm doing ok...but could definitely be doing better.

I have a friend that started investing in his retirement fund and he was supposed to retire this year.... but, unfortunately they lost thousands of his money and he has been set back 3 years.....

[kelico]

3 minutes ago, Calliers said:

I have a friend that started investing in his retirement fund and he was supposed to retire this year.... but, unfortunately they lost thousands of his money and he has been set back 3 years.....

What?? That's horrible! I'm so sorry for your friend. That really sucks. : ((

[Calliers]

Just now, kelico said:

What?? That's horrible! I'm so sorry for your friend. That really sucks. : ((

Yeah, he is currently 65, and he is married, but he isn't worried as he loves his job (he is a chef). So much so that he wants to probably still do some chef work part time even during retirement on and off.... next date for his retirement is when he is 67....

[aafire]

im on that grind these days. making money, saving money, etc. I have a pretty good IRA contribution from my current job and have been maxing it out the last few years which has helped me catch up a lot for my late start. 

I make pretty good cash right now, and have a lot of room to continue making money over the course of my career, so I don't really worry about it. I went from minimum wage to pretty decent in 6 years so I feel really flush these days compared to the hard times, and that I will continue to grow in value and skill over the next 10-15 years.

I hope to then then spend 15 years at the top of my field, working on cool shit and with great companies, and then retire to the family ranch and grow my garden, haunt the local pub, and spend time with family.

 

 

[Lord Jade Cross]

I dont really understand alot about investing other than it takes money to do which is hard enough to spare (and will be even worse in the coming months)

 

I also dont trust banks because, lets just say they arent very safe with your personal info and in the case of an emergency, Id rather have some money stashed away in a corner of the house where I know I can go get it rather than a bank

 

It also seems like you have to have an accountant and lawyer at the ready to look into your finances because Ive had the situation happen several times now with different jobs where I tell them to take out the max tax money so that when tax season comes around, they dont pull me through the ground with it and surprise surpise, they never do.

 

Career.....well I dont know what that is. Certainly not getting a degree to work in a field because I have that and know several dozen people who also have degrees whom cannot/are not working in their field

[Calliers]

The only thing that will upend my retirement plan completely is if I end up having a family, which again is something I don't want. I've never had kids, and I don't think that if somehow someway I end up with a SO it won't be too bad because we'll just pool our resources so I'm not too worried about that. I am at an age now where I "know" I don't want kids so that doesn't really bother me.

 

Edit: watch how some random girl is gonna pop out of the wood work now and be like "yeah - you see this baby? Yup, it's yours".

 

 

[Snao Cone]

It's complicated. As a snapshot I probably look like I'm in good shape for a retirement at some point in my future, but that assumes a) I'll remain workably healthy for at least 20 more years, which is probably a 50/50 bet at this point given various conditions and disabilities I have; and b) there will still be a concept of retirement for the average person. I'm responsible in what I'm saving, and I theoretically have a decent pension plan, but I am very distrustful that society can keep its shit together without completely stomping on the working class and taking as much away from us as possible.

 

So, given the gamble of a functional future in these respects, I'm not holding off on enjoying life right now. I'm keeping present plans in my budget so I can travel when I'm able to (which hasn't been the case for the past two years anyway; this proves my point and is why I'm very glad I did the traveling I did prior to the pandemic, since those are experiences that cannot be taken away from me the way a future can be). The smartest financial decisions I've been making aren't so much about what money I'm putting away into savings as much as what lifestyle choices I'm making. I don't need to own a car or pay for gas or upkeep. I own a small home with low utility bills. I do satisfying activities that don't cost a lot, like walking or listening to music. These are sustainable ways of living that I can continue past retirement. Remaining single will cost me a lot over time, since society is designed around dual income couples, but it will help me find inner happiness with whatever comes my way because I'll be living true to myself. Obsessing over numbers and a theoretical financial portfolio decades from now doesn't make my life better.

[Lord Jade Cross]

12 minutes ago, Calliers said:

 

Edit: watch how some random girl is gonna pop out of the wood work now and be like "yeah - you see this baby? Yup, it's yours".

 

 

"Jokes on you girl, Im sterile :P"

[Calliers]

2 minutes ago, Lord Jade Cross said:

"Jokes on you girl, Im sterile :P"

 

4 minutes ago, Snao Cone said:

It's complicated. As a snapshot I probably look like I'm in good shape for a retirement at some point in my future, but that assumes a) I'll remain workably healthy for at least 20 more years, which is probably a 50/50 bet at this point given various conditions and disabilities I have; and b) there will still be a concept of retirement for the average person. I'm responsible in what I'm saving, and I theoretically have a decent pension plan, but I am very distrustful that society can keep its shit together without completely stomping on the working class and taking as much away from us as possible.

 

So, given the gamble of a functional future in these respects, I'm not holding off on enjoying life right now. I'm keeping present plans in my budget so I can travel when I'm able to (which hasn't been the case for the past two years anyway; this proves my point and is why I'm very glad I did the traveling I did prior to the pandemic, since those are experiences that cannot be taken away from me the way a future can be). The smartest financial decisions I've been making aren't so much about what money I'm putting away into savings as much as what lifestyle choices I'm making. I don't need to own a car or pay for gas or upkeep. I own a small home with low utility bills. I do satisfying activities that don't cost a lot, like walking or listening to music. These are sustainable ways of living that I can continue past retirement. Remaining single will cost me a lot over time, since society is designed around dual income couples, but it will help me find inner happiness with whatever comes my way because I'll be living true to myself. Obsessing over numbers and a theoretical financial portfolio decades from now doesn't make my life better.

This makes sense, which is why I always allow myself enough to enjoy the now, so I am living while preparing, I mean, no point in going through life if all you do is work work work with no play at all just so that you can play all day ~40 years down the road. Fact of the matter is that you probably won't play anyway because you're already used to working, most people who are VERY successful, I'm talking overly successful in their careers by over working themselves are never happy because they do not do one thing that is very important - balance.

 

Life is about balance.... if you do not balance your life and cover all the bases at least to a point which can be considered sufficient then you will have problems in your life, it doesn't matter who you are or how much you make. And what is sufficient and which bases need to be covered differ from person to person, first you have to get to know yourself then figure out what you as a person require.

[Lord Jade Cross]

Hmmm, I used to be sold on the whole balance thing, but that was before life happened and I came to see that a great many deal of the things we claim to be truths of life dont really apply to many or all.

[Calliers]

38 minutes ago, Lord Jade Cross said:

Hmmm, I used to be sold on the whole balance thing, but that was before life happened and I came to see that a great many deal of the things we claim to be truths of life dont really apply to many or all.

Yeah it can be an uphill battle for a lot of people truth be told....

[uhtred]

I'll retire when they pry my cold dead hands off the oscilloscope knobs.  

 

I'm not mentally / emotionally equipped to retire.  I need to feel I'm doing something.