Enjoy Young Life or Enjoy Retirement

Discussion in 'Living Room' started by albanga, 21st Dec, 2019.

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  1. BKRinvesting

    BKRinvesting Well-Known Member

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    A slightly different lens:
    I don't subscribe to the idea of 'traditional' retirement,
    While some of us are only here in this life to enjoy ourselves, others also want to make an impact.

    Why invest?
    Because I enjoy the hell out of it. The numbers, the opportunity, the creativity. The late Mark Douglas said something along the lines of 'market trading is one of the most limitless creative experiences known to man', and that tends to apply to investing as a broad subject too. It's a creative expression.

    Retiring early isn't about retirement for me,
    It's about life design.
    Starting a business without the risk,
    Finding better ways to give and have a bigger impact.
    Creating the space in life to think and reflect deeper than we typically let ourselves.
    And living semi-nomadically.
     
  2. albanga

    albanga Well-Known Member

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    This is a great post and I can definitely relate. There most definitely has been times in the past 7 years where I have absolutely loved the hard work, particularly with my career.

    I do know however that it has come at the cost of spending more time with my wife and family.
    With the young one now I’m not sure I’m prepared to give up any time (ask me again when she is a raging toddler!) haha
     
  3. albanga

    albanga Well-Known Member

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    Also another reason for my post is because my mother in law just got divorced.
    Her and her husband were financially free and then some! 7 unencumbered properties, heaps of cash in the bank and a business to sell.

    Husband however simply refused to stop working, not even dropping a day.
    They didn’t need any more money! This is not unique though and from what I know is very common.

    Ultimately she just became too unhappy sitting at home doing nothing instead of enjoying life.
    It was never going to change. He had the mentality so engraved.
     
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  4. Trainee

    Trainee Well-Known Member

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    Being at an age when friends are increasingly desperate to buy ppor or bigger ppor, i am nothing but glad i started investing early.
     
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  5. Sackie

    Sackie Well-Known Member

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    For me, absolutely. Its a no brainer. I am 37 years old and I pretty much do what I want on most days. I have all the time in the world with my family and I can spend my time on whatever and wherever I wish. I live on my own terms.

    I worked exceptionally hard (totally obsessed) for about 10 years, then 6 years less hard but still very focused. I did have a lot fun during this time but no where near as free as I am now.

    The slog is over. Hell yeah its worth it.
     
    Last edited: 22nd Dec, 2019
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  6. willy1111

    willy1111 Well-Known Member

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    Sorry to hear...I guess it all comes back to the "why"

    Some play the game as a means to an end...ie create time freedom with enough money to do what they like.

    And others play the game as they just love playing the game.

    Being able to find some balance between the two is the ideal spot for me.
     
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  7. Marg4000

    Marg4000 Well-Known Member

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    We all make choices. Instead of sitting at home being unhappy, she could have done her own thing. On our travels we meet many solo travellers whose partners can’t or won’t accompany them, so they grab a friend or two (or go it alone) and head off - and have a great time!
     
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  8. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    The path is the goal.

    It is the experience of being on top of a mountain or the trek to get there that counts?

    I think it is mostly the getting there so enjoy life now as you are climbing that mountain. You might fall off half way and never reach the top, but you would have enjoyed yourself trying to get there.
     
  9. ellejay

    ellejay Well-Known Member

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    I think this is absolutely true. I knew a very successful guy who said he never felt happiness when he reached his goals. He figured out it was because he wasn't allowing himself to just enjoy the here and now, so nothing was enjoyable.

     
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  10. TMNT

    TMNT Well-Known Member

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    Thats the same feeling you get when you collect things.

    Once you get to the goal, you are satsifed, but it loses its novelty very quickly!!
     
  11. ChrisP73

    ChrisP73 Well-Known Member

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    Surely it is a combination of both journey and the destination. Although I tend not to think in terms of destinations, but rather simply the next waypoint. Maybe I’ve just contradicted myself!
     
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  12. Sackie

    Sackie Well-Known Member

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    For me this was definitely it. Enjoy the journey and have smaller goals to hit, but also have the major milestones. I think it helps tremendously if you really enjoy the path you've chosen.

    If you can get paid exceptionally well/make good profits and power on achieving your goals while you also really love what you are doing on most days - you're one of the few blessed.
     
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  13. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    We did the delayed gratification stuff and slogged to 30 then started rewarding ourselves - the big one being travel. Still worked hard for the next 10 years but it was time to use those rewards and go on family trips with the 3 kids etc

    Nowadays it's more of a work smart not hard but it's all on our terms and we work for ourselves now, not the man.

    There was no typical advice that probably would have changed anything for us. We didn't go to Uni (I started a few times but never finished) but had good jobs from 18/19, we had a kid earlyish (24), built my first IP (24), bought first development site (32), more kids etc etc

    It's unlikely that we'll be those cantankerous old people who penny pinch but have money. It's also unlikely that we'll blow the lot and not leave anything to the kids. We'll find a happy harmony of lifestyle, experiences and sensibility.
     
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  14. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    I have seen several who works their bottoms off to retire only to die just before or just after retiring. I think you want to do something you enjoy, take mini retirements and keep invesitng along the way.
     
  15. Kelvin Cunnington

    Kelvin Cunnington Well-Known Member

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    My observation (as someone older here) is that the best mix is to live life, but also plan for retirement with some investing as soon as you are able to.
    The earlier you start, the less aggressive and risky you need to be, because you have lots more time on your side and the compounding effect can work much better for you.
    The vehicle of investment is up to you; there is no one way - I have chosen property, and have strong cynicism towards Super, because I dont trust any Political party to leave it alone and not undermine it with constant money-grabs. I dont like having no control overt that. But thats just my older cynical brain at work.
    I still have Super, but to me it is a nice saving plan I dont have to fund myself - the Employer does it.
    In regards to whether you retire or not? I know several older people who still work well into their 70's and even 80's - but they work at jobs/businesses/projects they enjoy They no longer need the money really. They continue to work, but can also play at a nice level.
    So, "retirement" for most people would be the chance to exit from a job which they dont like, and only have to do because they need the money.
    But, if you retire early, it is important to continue keeping your life full of activities to engage your mind and body.
     
  16. The Y-man

    The Y-man Moderator Staff Member

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    Very much agree with this - I heard the line "Retirement is a middle class dream" in a seminar once - it really opened my eyes. The poor can't afford to, the well-off don't see the need to.

    Really the big reasons we keep "working" are:
    1. keep the mind active (as per the post above)
    2. build up the emergency funds for health issues that can come up later on (this is a biggy for me as I begin to realise my mortality) which may put me into "forced retirement"
    3. spend more on things we want but not necessarily need (ok, so we have now moved to prem-ec than eco - still can't see the value in biz tho)

    The Y-man
     
  17. Kelvin Cunnington

    Kelvin Cunnington Well-Known Member

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    Agreed.
    I am approaching retirement age in the not too distant future (I'm almost 59), and I cant see myself stopping work that I like to do - as long as my health and mental capacity allows me to do it.
    I cant envisage sitting in front of the midday shows and doing very little just because i have the time.
     
  18. kierank

    kierank Well-Known Member

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    As long as you climb the RIGHT mountain :D.

    If one climbs the wrong one, one needs time to get down and to start climbing the next (right) one.

    That is why it is so important to starting climbing early in one’s adult life.

    Unfortunately many don’t even know that they have a mountain to climb :eek:.
     
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  19. Phar Lap

    Phar Lap Well-Known Member

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    The only goal I ever had (and still is) to never be poor living pay to pay.
    Ive achieved that.
    Retirement is not a subject I acknowledge.
    Its all about living no matter what you are doing, whether work or playing golf.
    Work at what you want to do. If in a job you dont like then leave it and go do what you like to do.
    Suggest reading Terrys twitter post about the dyings' regrets.
    The 5 most common regrets of the dying – and what we can learn from them
     
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  20. Blueskies

    Blueskies Well-Known Member

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    Many are also wasting time looking for a chairlift, or maybe mum and dad to fly them up in a helicopter.

    The path up the mountain is long and winding but if you make a start it isn't long till you can turn around and and see how far you have come and what the view might be like from the top.