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Old 16-09-2012, 08:59   #121
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Re: The Golden Years: Myth or Reality?

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I think there is a lot of truth to this. Having recently turned 60, I've been giving this some thought. After mulling over some of the possibilities, I find that I am hopelessly happy and content with my life. I have a business that I love. I get paid a silly amount of money for what I do, so I am debt and worry free. After 60 years, the sickest I've ever been was a case of the flu for a week about 10 years ago. My kid is in college and doing well. All in all, I'm just looking at retirement as a time to "re-balance" my life a bit. I'll still work my business, just not as much. Instead, I'll be able to devote more time to the things I already enjoy doing. I'll sail more often, take motorcycle trips more often, play more music, read more books. Instead of just tinkering on my bikes, I'd like to do a restoration (Moto Guzzi T-3...YES!). Instead of flying to the Annapolis Show & back, I'll stay an extra couple weeks and explore the area more. Stuff like that. Trust me, if there was anything I was DYING to do in retirement, I would have done it already. As for cruising, I have thought about a Great Loop cruise (you couldn't pay me to spend 20 days on an ocean crossing). I could see doing it "in pieces" with a little trailerable boat like a Ranger Tug. Whatever I end up doing, it will look a lot like my life now, just more hobbies and less work. Referring to the quote above, I guess my "will" has created a good life that I enjoy and am content with. Darn it, there's that "C" word again.

Mike
You seem to have life sorted . It's not about what works for other people - it's what works for "You" .

Personally I can't see me ever wanting to give up the making a few quid (dollars) end of things. But I long ago gave up doing that for other people 9-5 year in and year out . That approach don't always go well , but for me that is part of the fun ......no doubt my approach to life is someone else's nightmare - and vice verce. Hell, sometimes it is for me as well .

Personally, before I can "retire" I will need to work a bit harder , partly for the money - and partly so I have something to actually retire from .
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Old 17-09-2012, 19:35   #122
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Re: The Golden Years: Myth or Reality?

There is just soooo much to comment on here. Just a few of my many thoughts.

About WORK. If you you really enjoy what you are doing then it is not really work as most of us know it. Good for you if you are happy. But... There are a whole bunch of unemployed MFA's out there who went deep in debt to chase their muse and work in a job they love. Starving artist.

If a bunch of us quit working then we would be making a lot less useless crap none of need for happiness. So good for the French, make wine and love and keep the Happy Meals. Please!

Today was my first day back at work from a four month leave of absence to sail. I'm having trouble adjusting, as you can tell.

I found my dream job, Boat Bum. Now I just need my dream salary.

For a more thoughtful essay read Bertrand Russel's Praise of Idleness.

http://www.zpub.com/notes/idle.html
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Old 20-09-2012, 19:43   #123
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Re: The Golden Years: Myth or Reality?

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Interesting as my son is 33, and has his retirement all figured out when he turns 55. It helps that he is one of the last hires that qualified under a defined benefit pension at the company he works at. He definitely is planning on retiring at that age, although he may contract back to the company afterwards.
I see this a lot and don't understand this line of thinking. Why retire just to go back to work? In my line of work contractors work the same hours as employees but usually have less benefits(medical, retirement plan etc).
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Old 20-09-2012, 19:50   #124
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Re: The Golden Years: Myth or Reality?

Contracting can have great benefits. We use lots of retirees in a contractor mode for surge issues. For them the benefit is flexibility. Many guys work 3-6 months building up the fun kitty and then go have fun.

They are also not subject to a lot if the internal gobble-de-gook that large companies are well known for. Performance management, internal "teams", etc. etc. etc.

They show up, apply their vast knowledge in a tactical way, get paid for 8 and then go home. It does require some planning in terms of retirement plans, the gov't and yearly earnings caps...

For us it is a way to handle surge situations and not permanently increase staff and overhead.
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Old 20-09-2012, 20:17   #125
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Re: The Golden Years: Myth or Reality?

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I see this a lot and don't understand this line of thinking. Why retire just to go back to work? In my line of work contractors work the same hours as employees but usually have less benefits(medical, retirement plan etc).
Because he is one of the few lucky ones grandfathered into a defined benefit plan. He gets his pension at a significant percentage of the average of his last five years of work, plus gets to bill out at the same or higher hourly rate than when he left work.

We are in Canada, so medical is not an issue; we have universal healthcare. The rest he can afford to take care of him self. I mean, who needs a dental plan at 55? I've spent maybe $1500 at the dentist in the past 4-5 years... go for a yearly checkup, get teeth cleaned and away we go.
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Old 20-09-2012, 20:23   #126
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Re: The Golden Years: Myth or Reality?

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I see this a lot and don't understand this line of thinking. Why retire just to go back to work? In my line of work contractors work the same hours as employees but usually have less benefits(medical, retirement plan etc).

Depending on your retirement package, it can be tremendously lucrative while giving you a lot more control over your life than when you *had* to be there every day, 8 - 5.
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Old 21-09-2012, 03:58   #127
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Re: The Golden Years: Myth or Reality?

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I see this a lot and don't understand this line of thinking. Why retire just to go back to work? In my line of work contractors work the same hours as employees but usually have less benefits(medical, retirement plan etc).
It depends on how each values there own time - and not just in cash. Me has always valued freetime and flexibility above pure cash. Others want (need?) the reverse. Each of us is right.

Of course being European my healthcare is free (apart from the cash I have and do still pay in), so I don't need to be bonded labour to stay alive - damn those socialists .
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Old 21-09-2012, 06:05   #128
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Re: The Golden Years: Myth or Reality?

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Of course being European my healthcare is free (apart from the cash I have and do still pay in), so I don't need to be bonded labour to stay alive - damn those socialists .
Right! It the US form of indebted servitude.

But it only really works for high performers.

I just took 4 month leave of absence, continuing medical coverage was $2,450 per month.
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Old 21-09-2012, 21:07   #129
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3 years ago I retired with a defined benefit pension from a craft union & was also able to keep my health insurance. This allows me the freedom to pretty much live the same as before I retired without the 10 - 12 hour 6 day a week thing called work. I always considered my self lucky in being able to do a job I enjoyed on most days, but getting to do what I want 24 - 7 beats the hell out of it. The best thing it's a multi-employer plan so what ever contractor I worked for the benefits were the same. It can be the "golden years" with planning & luck.
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Old 22-09-2012, 03:05   #130
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Re: The Golden Years: Myth or Reality?

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I just took 4 month leave of absence, continuing medical coverage was $2,450 per month.
Ouch!

I guess that kinda rules you out of the $500 a month club .

And in just in case any readers think I am somehow on the pinko end of the capitalism and wear homemade shoes made out of knitted muesli - far from it. if I could send yer kids up a chimney for a dollar, I would . Call me Mitt_Old_Jersey .

But nonetheless I simply see the European Healthcare as both a great idea for a society and a damned good business deal for me personally (I pay into an "Insurance" policy that will never run out of money nor refuse me (even when I stop paying in - or I get sick from stuff that is commercially unattractive). Plus if I want more / better treatment (and have the cash) I can also do WTF I want (same as those without "free" healthcare), both at home or abroad (including the US of A).

Healthcare has always been "rationed" (and always will be), either by availability (no spare hearts off the shelf - not currently!) or by cash (own bank account or a societies pooled cash)........and simply paying cash (whether to da Gubberment or to private enterprise) will never fix everything healthwise . But the good news is that the most cost effective approach that is entirely in the hands of each is preventative action (ok, I will admit that I was not exactly big on that myself - but I now have a pretty much unlimited healthcare pot to draw on ).

Once you lose your health you start to appreciate what you took for granrted. How does that affect the "golden years" - well, IME the desire (and getting enjoyment from stuff) goes well before the physical ability to do things......when things are possible, but are now a PITA and no longer fun only an idiot carries on as if circumstances have not changed. or someone with no choices.
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Old 22-09-2012, 14:05   #131
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Some complain about recent changes to healthcare law, but they put folks like sailors in better shape when looking at those golden years IMHO
It seems like medical treatment should be a basic right- you can get a free basic education but not medicine. I'm sure people wouldn't mind paying more for it like in Canada. Something's gotta change.
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Old 22-09-2012, 15:08   #132
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Re: The Golden Years: Myth or Reality?

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It seems like medical treatment should be a basic right- you can get a free basic education but not medicine.
That's our dirty little secret in Canada - how a one-payer health system is a whole 'nother level of freedom. Freedom from catastrophic expenses due to illness or accident, freedom from having to stay in a bad job or marriage to keep health benefits. Wanna know another secret? IT COSTS LESS PER RECIPIENT to deliver this healthcare, than the US's current system. And it covers every citizen.

Anyway...

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I don't advocate being unhappy or getting outdoors but the main problem with many of these "just go do it" ideas is that to make that sailboat he's floating around on, or to have those kids go to outward bound in the first place there needs to be a lot of folks working and making money...

If everyone decided to cut out, work at outward bound and make surfboards it would be a strange world indeed.
Sorry, I don't see anything in these "just go do it" ideas that are suggesting to go do these at someone else's, or society's expense. It's more to do with recalibrating your goals and expectations, which changes your financial requirements. If your lifestyle doesn't require cable/satellite TV, a late-model car, a big-city house, central air, a garage full of toys... then you can usually pay your own way by just making surfboards, or working for Outward Bound.

Re cutting out... hey, the business activities of some are making alot of 'cutting-out' involuntary, for others. Gonna be interesting...
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Old 22-09-2012, 15:17   #133
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Re: The Golden Years: Myth or Reality?

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It seems like medical treatment should be a basic right- you can get a free basic education but not medicine. I'm sure people wouldn't mind paying more for it like in Canada. Something's gotta change.
Canadians actually pay less as percentage of our GDP, and our taxes are the same or lower, depending on the bracket. Corporate taxes are lower. And we live longer. It all depends on a societies priorities, and realities of how their economies are structured.

Now, for a Canadian living outside of Canada, they are faced the same issue as others. If they winter in the USA, be prepared to pay a significant amount for health insurance. If in other countries, that amount may vary. A Canadian also needs to be aware that in most provinces, an absence of over 6 months may well make one no longer eligible for coverage.

BTW, putting on my moderator hat, please do not make political comments, as those will have to disappear. You may notice that some of your postings are shorter.
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Old 22-09-2012, 15:17   #134
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Re: The Golden Years: Myth or Reality?

my wife and I couldn't find careers, so we are enjoying a forced mini retirement in our late twenties. So I suggest all you boomers start retiring so there are more jobs for us when we are done sailing
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Old 22-09-2012, 15:52   #135
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So I suggest all you boomers start retiring so there are more jobs for us when we are done sailing
Trust me, I'm trying!!!!

Bill
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