I did/am/are. I got off the merry-go-round as early as I could and never looked back. I transitioned out of the crowded San Fransisco bay area at age 48 and moved to the hills of the Sierra Nevada mountains. I commuted 100 miles each way for 3 years every day until I could work closer to the mountain place. Eventually, after years of commuting long distances, I could pay off the mountain home and quit working in bay area. More recently, I added a condo in the center of the Orient/ASEAN region. That is where I am right now. Now I have more time to see the world and all its glory
I planned my life and worked towards the goal; That goal was to own/pay-off a home in the mountains/hills and early retirement with no house payments. I also worked on my health and am now planning the next decade(s) escape. -Richard Marsh
Last edited:
I retired at the end of 2000 at the age of 50. People said 'what are you going to do with your time?' The answer is I don't know - there's so much to do I never quite understand how I ever managed to fit work in. There are no downsides to early retirement. I have loads of time to design and build audio gear, plenty of quality time with my grand children, time to potter in the garden, time to go the theatre with my wife etc etc.
Cheers
Ian
Cheers
Ian
The key is to find a place that you can pay off by age 50-55. Afterwards, income to live is a LOT lower. Sooner if you can manage it with some luck. Why 50-55? Because in a career, that is the age which most incomes have peaked and will flatten out. And, you still have the energy, strength, health to do a lot of fun things.
Good going, Ian !!
-Richard
Good going, Ian !!
-Richard
Last edited:
I did/am/are. I got off the merry-go-round as early as I could and never looked back. I transitioned out of the crowded San Fransisco bay area at age 48 and moved to the hills of the Sierra Nevada mountains. I commuted 100 miles each way for 3 years every day until I could work closer to the mountain place. Eventually, after years of commuting long distances, I could pay off the mountain home and quit working in bay area. More recently, I added a condo in the center of the Orient/ASEAN region. That is where I am right now. Now I have more time to see the world and all its glory
-Richard Marsh
Richard, you are one of the few smart ones here.
Bob, I think a good proportion of the population tries to do the "smart" thing, in life terms - but the saying applies: sh!t happens ... far too often, for most ...
Bob, I think a good proportion of the population tries to do the "smart" thing, in life terms - but the saying applies: sh!t happens ... far too often, for most ...
That is the big question for me and I am sure, for many. When is enough, enough? Even with a fantastic medical program here, what could happen, expense wise, down the road?
In Canada we no longer have mandatory retirement, so potentially we could work until we drop dead.
Many of us in our fifties wonder about the timing......this is the best income level now, in our lifetimes, but there is the question about health and the ability to enjoy life and for how long. A real dilemma, for sure.
Last edited:
Strongly suggest re-viewing "A Man for All Seasons".
Theft of intellectual property is theft.
.
Understand that someone can pull it for you at any time. Be prepared.
I don't know your situation but it became obvious to me what was happening about 6 years ago. Most of my friends were laid off during those 6 years. I extended my corporate life expectancy by doing all the stuff nobody else wanted to do. Sherri and I had decided several years ago that we would move here whenever my job ended, so we began selling, giving away, or trashing anything that we did not want to move.
Both of us had to go through our parents house and clean up the mess after they left this world. We then decided that we had accumulated far too much "stuff"......it had to go......yes, I sold, gave away, or trashed about 100,000 vacuum tubes!
This all depends on your financial situation.
I bought my "starter" house at age 25. Paid it off at age 48 and stayed there until I left Florida. The funds from the sale of that house will pay for most of the one currently under construction.
Most people really don't get this. About half of Florida refinanced during the real estate boom in the mid 2000's, took their equity and bought Escalades, Bimmers, or rental property. Bust happens, they are upside down, they walk away. Florida has been the #1 foreclosure state since 2009.
Motorola did pay its engineers well. My income was still increasing every year until I left. A quick walk of the parking lot reveals that the most popular car for Motorolans is a BMW. There are plenty of Lexus, Acura, and Mercedes too.
I remember going into a Dodge dealer in 1997 to buy my first ever new car. I wanted a Neon, their cheapest car. The sales guy ran my credit and wondered why I wanted a cheap car since I has excellent credit. I explained that I had excellent credit because I wanted a cheap car. It took me about two months to buy that car. They wouldn't meet my price, and I wouldn't meet theirs. I kept a check made out to the dealership for $10K in my wallet, and once a week I would walk into the dealership and wave it around. I finally found a salesman hungry for a sale.
I typically buy used cars that are 1 to 2 years old. Contrary to popular opinion, I found that if you have the funds to buy a car, you can get a better deal by taking the dealer ripoff financing making one or two payments, then paying the car off. The dealer will market your loan, and get a kickback from the loan company. This could be leveraged to save a few hundred bucks.
I know that it is not a popular thing to do anymore, but I always spent LESS than I made, and saved what I could for "retirement". You never know when sh!t will happen, but you DO know that it will!
Too many people don't know what the smart thing is until it is too late. At least half of the population is too busy playing "keep up with the Joneses" or "climb the corporate ladder".
Richard you like to tell people what is good for them, maybe they can decide for themselves. Your formula works for you but everyone is different. BTW "Why 50-55? Because in a career, that is the age which most incomes have peaked and will flatten out" not here for instance not even remotely.
Last edited:
Quote: Strongly suggest re-viewing "A Man for All Seasons".
Theft of intellectual property is theft.
Except that the wealthy and powerful don't feel bound by morals.
They're for the "little people".
Theft of intellectual property is theft.
Except that the wealthy and powerful don't feel bound by morals.
They're for the "little people".
Yes Tubelab, I am more than aware of the potential pitfalls that could be ahead. I work for a U.S. based company that has decided that their very profitable Canadian division could be downsized with a "shared North american resource" approach that while, on paper (or spreadsheet) made sense, didn't allow for the fact that the market and our needs were different, up here. This has been happening over the past few years...many other other Canadian operations of US companies have been through the same thing.
I have lost a lot of talent and many from other departments that has made it very difficult to run a viable business. But, it is what it is.
After experiencing the surgical outcome of this strategy, I am ready for anything!
Cheers and the best of luck with your plan! It looks like you are having fun.
By the way, I only buy used Bimmers...let someone else take the depreciation!
I have lost a lot of talent and many from other departments that has made it very difficult to run a viable business. But, it is what it is.
After experiencing the surgical outcome of this strategy, I am ready for anything!
Cheers and the best of luck with your plan! It looks like you are having fun.
By the way, I only buy used Bimmers...let someone else take the depreciation!
Last edited:
Looks like I'll keep my 6 year old Honda for a while.....I have to now, I just put $500 worth of tires on it.
Very true for the thousands of my friends who have been laid off. 50+ was the target group for the last few years, starting with the highest paid. They were making a fat six figure salary, then they were laid off. Some found work often at about half their former salary, many are still looking.
The layoffs make sense to someone in Chicago that makes spreadsheets. To those of us designing the next generation of products, laying off all the support groups just didn't add up. I left when they shut down out PC board lab and parts stockroom. How do you make prototypes without parts and PC boards? They replaced me with someone less than half my age, at less than half my salary. He can't build squat, but on paper he is cheaper!
I've been viewing all the comments so far with interest. I'm of an age with George, but still have a job so far.I've been at my current employer for 20+ years. They keep on paying me well and giving me stock, so there is an incentive to keep on as long as I can continue stuffing money into the bank and delay the dreaded transition into the cold. cruel world of non-subsidized medical care.
Moralizing -
People do what people have to do ... especially in very poor countries. They find a way. Sorry, but its reality. I speak to that only. Not making judgments on them..... the communications companies know what goes on... they just need to look up at a pole. They find ways to make money never the less. Such as fees only for actual use time on mobile phones and no monthly fee (which they wouldnt get any sales). There is always two sides to everything.
I was once asked by a company president about an employee's theft... what I thought of it for his company.... I gave him many ways to prevent it. I showed no compassion. He and his staff said if it was because the company sales were down and the person who stole had to feed his family - they would look a blind eye. They werent stealing to get rich. Well, in that case I just threw my hand up.. what can you say.... its a cultural thing.
Or, China not respecting our intellectual property laws is because of a fundamental difference in philosophy about sharing discovery, thoughts, invention, ideas for the good of all society to use rather than the individual.
Theft isnt theft to everyone. But, if you want to keep a secret there are ways besides patents; As they are instructed in the Martial Arts before a fight -- 'protect yourself at all times'. Just know the rules of the game... and the rules are Not the same everywhere.
THx-RNMarsh
People do what people have to do ... especially in very poor countries. They find a way. Sorry, but its reality. I speak to that only. Not making judgments on them..... the communications companies know what goes on... they just need to look up at a pole. They find ways to make money never the less. Such as fees only for actual use time on mobile phones and no monthly fee (which they wouldnt get any sales). There is always two sides to everything.
I was once asked by a company president about an employee's theft... what I thought of it for his company.... I gave him many ways to prevent it. I showed no compassion. He and his staff said if it was because the company sales were down and the person who stole had to feed his family - they would look a blind eye. They werent stealing to get rich. Well, in that case I just threw my hand up.. what can you say.... its a cultural thing.
Or, China not respecting our intellectual property laws is because of a fundamental difference in philosophy about sharing discovery, thoughts, invention, ideas for the good of all society to use rather than the individual.
Theft isnt theft to everyone. But, if you want to keep a secret there are ways besides patents; As they are instructed in the Martial Arts before a fight -- 'protect yourself at all times'. Just know the rules of the game... and the rules are Not the same everywhere.
THx-RNMarsh
Last edited: