It is very hard to let go of a good situation for another somewhat 'unknown'. I could have stayed until 65. In my case i wanted to do and see other things in a way I never would be able while holding down a full time job. And, I would like the freedom to do so. Financial stability is a big one which security feelings are closely attached (for me - Scott). Finances had to be coordinated with the jump off.
I am not one who wants to dote on grandkids in my retirement years. So, that didnt hinder my plans to explore other places and things. In many cases, my neighbors went back to work as consultants or part time as they had no idea of what else they wanted to do after retirement. I am fortunate in that I had an idea at an early age what I wanted to do and where and when. So, I could make it all happen. But, I do not discount the role good luck has played either. You need a little of that too. And, it is Very hard to do.... retire early, esp if you are not a 1 percenter.
THx-RNMarsh
I always had used cars until well after I 'retired'. I think I was over 60 when I bought my first new car.... still have it.
One of the things I did --- open a line of credit which will cover car cost -- before buying a car. Then get your car at best price but dont worry about the interest rate they want to charge you...... after you(I) get the car/loan, I paid it off with the low interest rate of the secured line of credit (Less than 3% at that time). You also get the luxury and financial flexibility to pay any amount at any time (and often for 10-30 years on the line of credit) - just make interest payment and you also get title right away to the car as it was paid off to the originator. Just a thought to share. If you want to retire early get a line of credit before you retire just for the times the s__t hits the fan big time. [its harder to get a line of credit when you are unemployed - retired]
THx-RNMarsh
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Give me the money, Lebowski, or I fck you up.
(practicing for a visit to the bank later today)
My credit score dropped 50 points (was 825) within a week of leaving my job and has been declining ever since, despite making no major changes in financial habits, AND sticking over $200K in a bank account from the sale of my house in Florida.
65 was my target date, but the spreadsheet pushers in Chicago went around my management and offered me the buyout directly. This was targeted at an age / length of service / salary group, and not performance related. I had to gamble on whether my job would outlast the severance package, or whether I would work for a year and then get laid off. I would get the same pay either way. They laid off about 250 people right after I signed up, including 3 from my group. I believe I would have survived that one, but there is ALWAYS a substantial layoff in November or December, or both. It will be interesting to see what goes down in my old group.
Unless there is a major sh!t happens event, I don't plan on using credit for any major purchases going forward. Credit allows you to spend future money today, and you pay for the privilege. Isn't that what caused the big sucking sound that swallowed the market in 2008, people taking out HELOC's and REFI's to buy fancy cars?
After we finish building the new house, we will sell this one. The funds will finish outfitting the new house, and probably buy our last new vehicle.....we need something with 4WD or AWD here in the winter. We have had to extract my FWD Honda from the mud too many times already....and none of those incidents were related to cold weather. Of course it wasn't designed to pull a 2500 pound trailer filled with tubes and transformers
I don't know how Thomas More was invited to this thread but it seems strange to find him here. I think it all started in Nepal. Common people finding ways to save a few bucks. Newsflash: that's what they always do. How dare they. Granted, it looks ugly; but this world is far from perfect. I think you already know that.Originally Posted by jackinnj
Strongly suggest re-viewing "A Man for All Seasons".
Motorola
Corporate fortunes, like personal ones, wax and wane depending on what s**t happens, and how they react to them. Still, the decline of Motorola is unfortunate. A friend of my brother( a UT EE named Browne) joined them in 1977 and 1978 and at the time, they were a powerhouse. They seemed to be doing well right up through the Razor, then dried up and drifted away.
Corporate fortunes, like personal ones, wax and wane depending on what s**t happens, and how they react to them. Still, the decline of Motorola is unfortunate. A friend of my brother( a UT EE named Browne) joined them in 1977 and 1978 and at the time, they were a powerhouse. They seemed to be doing well right up through the Razor, then dried up and drifted away.
Mot was a publicly traded company but the Galvin family retained control until Carl Icahn starting buying up shares. He demanded the break up of the company. Pieces were spun off and sold off until the two way radio business was the only piece left. Motorola currently has a 90% market share in the US and 50% world wide in that market. This is why I find it odd that they just cancelled the next generation product development and laid off all the engineers. The building where all hand held radio development has taken place since the 70's was sold and scheduled to become a shopping center. This was well underway when I chose to accept a buyout offer.
Carl was banded for life from the airline industry so sorry Motorola did not get the same protection.
Reading this entire thread I see a bunch of mainly happy people in their way to retirement, and others already retired.
My phone (cell) is a Motorola one.
Health is always issue number one, of course; a properly functioning mind inside a properly oiled and well lubricated body; joints and all.
Two is family; love of your better half and your children and parents (Mom & Dad, if still alive).
Then your friends; in real life and in here, @ diyaudio.
Last, some money to travel around and pay the bills and give away to your children.
Music is free ♪ ♫ ... and few bucks for Netflix (except for me; I'm not into that stuff).
My phone (cell) is a Motorola one.
Health is always issue number one, of course; a properly functioning mind inside a properly oiled and well lubricated body; joints and all.
Two is family; love of your better half and your children and parents (Mom & Dad, if still alive).
Then your friends; in real life and in here, @ diyaudio.
Last, some money to travel around and pay the bills and give away to your children.
Music is free ♪ ♫ ... and few bucks for Netflix (except for me; I'm not into that stuff).
He was on "60 minutes" a few years ago explaining how he "unlocked shareholder value" by buying into, and breaking up companies. He, and his henchmen, took control of Motorola and 100,000 employees world wide were gone in 10 years. Great job.
I always had the latest pre-production engineering test phone when they were designed and BUILT in the building where I worked. The factory that cranked out tens of thousands of phones a week was shut down, the people all laid off, and all production was transferred to Foxconn in China. Slowly the engineering for low end phones went to Foxconn. Mid tier went to Malaysia. Before they could kill off all engineering, the entire phone division of Motorola was sold to Google, who kept the patents and sold the rest to Lenovo. So for years Motorola phones are Motorola in name only, Google and Lenovo own the rights to the name for use on phones, and the phones are made by Foxconn, as is the Apple iPhone.
About 5 years ago they told us that we had buy our own phones and we didn't even get a discount, so I got a Samsung. My daughter is still using that one, and I got another Samsung.
The division of Motorola that made cable boxes for Comcast and others, was sold to Arris in Georgia. They own the Motorola brand for TV related devices.
The Symbol division that made RFID devices, bar code scanners, and even some specialized cell phones for industrial customers was sold to Zebra.
The Networks division that made cell tower equipment, is now part of Nokia Networks.......the list goes on, I can't remember it all.
We had one of his kind run for President of the USA! Carl and his kind are not interested in making products or building market share etc. Their goal is to make the most cash for its investors (which he becomes a major holder/investor). That means sucking all the money available from a business.... its the mob's criminal mind methods at work. Just legal. Same thinking. Ditto banking/investing and 'skimming' share holder profits into upper management (mob) bank accounts thru 'bonuses' and the like. Its a criminal mentality finding a legal way to steal. Morality, anyone?
-RNM
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My credit score dropped 50 points (was 825) within a week of leaving my job and has been declining ever since, despite making no major changes in financial habits, AND sticking over $200K in a bank account from the sale of my house in Florida.
Unless there is a major sh!t happens event, I don't plan on using credit for any major purchases going forward. Credit allows you to spend future money today, and you pay for the privilege. Isn't that what caused the big sucking sound that swallowed the market in 2008, people taking out HELOC's and REFI's to buy fancy cars?
.....we need something with 4WD or AWD here in the winter. We have had to extract my FWD Honda from the mud too many times already....and none of those incidents were related to cold weather. Of course it wasn't designed to pull a 2500 pound trailer filled with tubes and transformers
Yes. It is harder to get a loan after retiring. In the eyes of the bank you are a higher risk of missing payments (or dying on them before they get all their money back)..... so your risk shows up in higher interest charges. My idea was to have maximum flexibility with my cash flow with a line of credit established. but dont use it if you can help it. Just have it there as a pre-approved option. I used it to pay off a high interest car loan and paid back bank on my time-line. Eventually, I sold car and paid off line of credit loan. It can give you options which you might want should you get into a financial pinch (medical etc).
THx-RNMarsh
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Nice one, Bob, thanks ...
But, what's this crap about "mainly", huuuhhh ...
Just to rhyme with "family" frank, just to rhyme with it ♫
...Like manlyhood and familyhood.
Anyway, my Moto G is a real class act! ...I less than six months it stopped working all together more than a dozen times!
As for my shares in the most solid companies of the world; they all lost big time!
I've seen bankers and stockbrokers and financial analysts and advisors stealing the piggie banks of their own children!
It's a mad world out there, and the best is to become a money maker.
And the number one rule is: There are no rules!
As for my shares in the most solid companies of the world; they all lost big time!
I've seen bankers and stockbrokers and financial analysts and advisors stealing the piggie banks of their own children!
It's a mad world out there, and the best is to become a money maker.
And the number one rule is: There are no rules!