Retire rich or retire early?

Madman31 · 04-23-2012, 04:59 PM

Let's say you had an option of retiring early at like 50 with enough investment income to last until you're 100 living a lower middle class lifestyle. Would you do it or keep on working until 62 to ensure you have enough income to live a "rich" retirement? Curious to see the answers

Ogre · 04-23-2012, 05:09 PM

My answer would have to depend on my health. Not worth working longer if you can't enjoy it.

The Poet · 04-23-2012, 05:11 PM

Can't I pick both?

On second thought, nevermind, as it's too late for me to do either.

Apoco · 04-23-2012, 05:33 PM

Retire early. Easy choice for me.

PS - I'm 24. What I'm looking at right now is continuing to work my job for another 5 years saving ~75% of each paycheck (like I'm doing right now) and then quitting to do whatever I want to. Probably whitewater rafting guide. I'll take a really decreased paycheck but by then given my investing habits and return I should be good to go on a minimal income.

markem · 04-23-2012, 05:34 PM

What if you could manage semi-retired (work maybe 500 hours a year) at 45 and upper middle class for the rest of your life? I'm thinking full medical coverage, big house without a mortgage and perhaps something in the six figures to live on after taxes.

emopunker2004 · 04-23-2012, 05:35 PM

I like my job, so I'd pick retire rich

Coach Deg · 04-23-2012, 05:40 PM

My plan is retire at 52 I will have medical and enough to be lower middle class. And at that point get a part time job at a BM or something like that. Even though I do love my job and can work till 57 and make a whole lot more.

Bax · 04-23-2012, 05:45 PM

Retire early, but only if a minimum income can be secured. But that depends heavily on family needs, health care and my hobbies at the time.

E.J. · 04-23-2012, 05:47 PM

62, easy decision.

Though I am not sure if everyone is looking at "lower middle class" in the same way.... I need a number on that to make an informed decision.

Mattso3000 · 04-23-2012, 05:59 PM

I definitely plan on working way past 50. No way I would be able stand not working in some way that early. That being said, also no way I will be working at the job I'm at now past 50. Second career all the way...probably something involving a resort or a golf course, whatever I can get the best deal on.

NCRadioMan · 04-23-2012, 06:03 PM

Retire and work part-time at a cigar shop.

hammondc · 04-23-2012, 06:11 PM

Quote:

Originally Posted by markem

What if you could manage semi-retired (work maybe 500 hours a year) at 45 and upper middle class for the rest of your life? I'm thinking full medical coverage, big house without a mortgage and perhaps something in the six figures to live on after taxes.

This is my plan. 20-25 hrs a week effing off at home depot or something. I'd like to have my 'I am never moving again' house.

kelmac07 · 04-23-2012, 06:13 PM

Define lower middle class and rich?

jluck · 04-23-2012, 06:39 PM

I ponder this all the time my self...I have a good job for a average idiot, I like it and it gives me most the tools I need to retire at a decent age. I'm shooting for 45-55 years old myself. The wife is going to take over bread winning duty's soon as she is working towards being a RN. When the wife tells me to stay home and clean the house I will know it's time.
I would love to retire or even semi retire while I'm healthy enough to have fun with my boys and nieces and I will more than likely be taking over a gun shop or some other part time work later on. ("welcome to Wal-Mart do you need a cart")
This all depends on return of investments too. I (we) could all be broke tomorrow.

So in a nut shell....I want out before 62.

Mikey202 · 04-23-2012, 06:41 PM

Retire early and go fishing everyday. I'm easy to please.

pnoon · 04-23-2012, 06:48 PM

What? No "retire now" option?

E.J. · 04-23-2012, 06:49 PM

Quote:

Originally Posted by kelmac07

Define lower middle class and rich?

That was my question exactly, Mac.....

http://www.cbsnews.com/8301-505123_1...-middle-class/

It's not surprising that Washington has a hard time deciding the politically expedient definition of middle class, but it's not as if there's any better clarity among the masses either. In an April 2008 survey conducted by the Pew Research center, four in 10 Americans with income below $20,000 said they were middle class, while one-third of those making more than $150,000 defined themselves as middle class.

So 40% of Americans that are not making half the Median Household income think they are "middle class"....which 1/3 of those making three times the Median Household income think they are middle class.... If choosing between those two, I'd say the 150Kers are closer....

THis post is in no way meant to come off as political....

04-23-2012, 08:03 PM

I've got a 1% friend, trust me, rich is always better.

Smokin Gator · 04-23-2012, 08:46 PM

I currently have three jobs. I work as a consultant for a school district, have a residential rental property business, and have a cattle operation. The school job will go away at some point. The other two never will.

I choose work until the day I die. There is nothing else I want to do.

GreekGodX · 04-23-2012, 08:49 PM

62 and probably much longer. The answer is always more.

04-23-2012, 04:59 PM	#1
Madman31 Just in from the Storm Join Date: Apr 2012 Posts: 15 Trading: (0)	Retire rich or retire early? Let's say you had an option of retiring early at like 50 with enough investment income to last until you're 100 living a lower middle class lifestyle. Would you do it or keep on working until 62 to ensure you have enough income to live a "rich" retirement? Curious to see the answers

04-23-2012, 05:09 PM	#2
Ogre **CENSORED** Join Date: Apr 2010 First Name: Larry Location: Central Florida Posts: 12,068 Trading: (46)	Re: Retire rich or retire early? My answer would have to depend on my health. Not worth working longer if you can't enjoy it. __________________

04-23-2012, 05:11 PM	#3
The Poet Il megglior fabbro Join Date: Jun 2009 First Name: Thomas Location: Hickory, NC Posts: 8,420 Trading: (2)	Re: Retire rich or retire early? Can't I pick both? On second thought, nevermind, as it's too late for me to do either. __________________ Ninety percent of everything is crap - Theodore Sturgeon.

04-23-2012, 05:33 PM	#4
Apoco Nerd with social skills Join Date: May 2010 First Name: Alex Location: Chattanooga, TN Posts: 1,286 Trading: (37)	Re: Retire rich or retire early? Retire early. Easy choice for me. PS - I'm 24. What I'm looking at right now is continuing to work my job for another 5 years saving ~75% of each paycheck (like I'm doing right now) and then quitting to do whatever I want to. Probably whitewater rafting guide. I'll take a really decreased paycheck but by then given my investing habits and return I should be good to go on a minimal income.

04-23-2012, 05:34 PM	#5
markem Bunion Join Date: Oct 2008 First Name: Mark Location: Second Star on the Right Posts: 22,622 Trading: (47)	Re: Retire rich or retire early? What if you could manage semi-retired (work maybe 500 hours a year) at 45 and upper middle class for the rest of your life? I'm thinking full medical coverage, big house without a mortgage and perhaps something in the six figures to live on after taxes. __________________ I refuse to belong to any organization that would have me as a member. ~ Groucho Marx

04-23-2012, 05:35 PM	#6
emopunker2004 Central Fla rollin Join Date: Jan 2011 First Name: Justin Location: Winter Springs, FL Posts: 6,171 Trading: (46)	Re: Retire rich or retire early? I like my job, so I'd pick retire rich __________________ Cigar Asylum: Where all are equal, unless you are from CA, then you are more equal.

04-23-2012, 05:40 PM	#7
Coach Deg C O W eieio. Join Date: May 2009 First Name: Mike Location: Hudson, FL Posts: 2,853 Trading: (59)	Re: Retire rich or retire early? My plan is retire at 52 I will have medical and enough to be lower middle class. And at that point get a part time job at a BM or something like that. Even though I do love my job and can work till 57 and make a whole lot more.

04-23-2012, 05:45 PM	#8
Bax C A P S...CAPS CAPS CAPS! Join Date: Oct 2008 First Name: Tim Location: Ringgold,GA Posts: 2,173 Trading: (70)	Re: Retire rich or retire early? Retire early, but only if a minimum income can be secured. But that depends heavily on family needs, health care and my hobbies at the time. __________________ I'm the most interesting man in the world... but only if you find stupid stuff really interesting.

04-23-2012, 05:47 PM	#9
E.J. I'm nuts for the place Join Date: Sep 2009 Posts: 3,218 Trading: (21)	Re: Retire rich or retire early? 62, easy decision. Though I am not sure if everyone is looking at "lower middle class" in the same way.... I need a number on that to make an informed decision.

04-23-2012, 05:59 PM	#10
Mattso3000 Will ninja for beer Join Date: Aug 2010 First Name: Matt Location: Burnsville, MN Posts: 2,842 Trading: (20)	Re: Retire rich or retire early? I definitely plan on working way past 50. No way I would be able stand not working in some way that early. That being said, also no way I will be working at the job I'm at now past 50. Second career all the way...probably something involving a resort or a golf course, whatever I can get the best deal on. __________________ Please Support the Troop Support Contest!

04-23-2012, 06:03 PM	#11
NCRadioMan Chutney Lovebusciut Join Date: Oct 2008 First Name: Chutney Location: On the shores of Loch Shiel Posts: 4,277 Trading: (66)	Re: Retire rich or retire early? Retire and work part-time at a cigar shop. __________________ The path to loyalty is trust.

04-23-2012, 06:13 PM	#13
kelmac07 Resident Maduro Whore!! Join Date: Apr 2009 First Name: Mac Location: Newport News, VA Posts: 27,322 Trading: (218)	Re: Retire rich or retire early? Define lower middle class and rich? __________________ Dom in the MLB thread "I could probably get you to wear a Yankee hat for a Maduro!"

04-23-2012, 06:39 PM	#14
jluck Way out there Join Date: Jan 2012 First Name: Jared Location: Oregon Posts: 1,289 Trading: (12)	Re: Retire rich or retire early? I ponder this all the time my self...I have a good job for a average idiot, I like it and it gives me most the tools I need to retire at a decent age. I'm shooting for 45-55 years old myself. The wife is going to take over bread winning duty's soon as she is working towards being a RN. When the wife tells me to stay home and clean the house I will know it's time. I would love to retire or even semi retire while I'm healthy enough to have fun with my boys and nieces and I will more than likely be taking over a gun shop or some other part time work later on. ("welcome to Wal-Mart do you need a cart") This all depends on return of investments too. I (we) could all be broke tomorrow. So in a nut shell....I want out before 62.

04-23-2012, 06:41 PM	#15
Mikey202 Tight Lines !!!! Join Date: Oct 2008 First Name: Mike Location: Clarkesville(Batesville), Georgia Posts: 643 Trading: (6)	Re: Retire rich or retire early? Retire early and go fishing everyday. I'm easy to please. __________________

04-23-2012, 06:48 PM	#16
pnoon YNWA Join Date: Oct 2008 First Name: Peter Location: San Diego Posts: 29,919 Trading: (20)	Re: Retire rich or retire early? What? No "retire now" option? __________________ Be more concerned with your character than your reputation, because your character is what you really are, while your reputation is merely what others think you are. -John Wooden

04-23-2012, 08:03 PM	#18
ysr_racer Guest Posts: n/a	Re: Retire rich or retire early? I've got a 1% friend, trust me, rich is always better.

04-23-2012, 08:46 PM	#19
Smokin Gator Just plain insane! Join Date: Oct 2008 Location: The Swamp Posts: 6,237 Trading: (106)	Re: Retire rich or retire early? I currently have three jobs. I work as a consultant for a school district, have a residential rental property business, and have a cattle operation. The school job will go away at some point. The other two never will. I choose work until the day I die. There is nothing else I want to do. __________________ Check out the Cigar Asylum Newbie Sampler Trade

04-23-2012, 08:49 PM	#20
GreekGodX Opa!! Join Date: Mar 2009 First Name: Christos Location: 7 Line Posts: 4,893 Trading: (82)	Re: Retire rich or retire early? 62 and probably much longer. The answer is always more. __________________ "If I give a businessman 10,000 francs, what is that to him, he is rich. But if I give him a Cohiba cigar, that is style."-Hotel Rwanda