When did you decide to retire?

Stopped working at 47, two weeks before my youngest was born (in another country, Cataluña/Spain).
Chucked everything in in Switzerland where I had lived for 10 years and moved to Barcelona. Had not quite reached financial goals but have enough to get by, right decision.

 

I will never retire
I will be creating new businesses and new ideas throughout my entire life.

 

Go girl
Like your avatar

 

Wouldn't use the word retire, but certainly didn't see the need to work, let alone work for someone, after around 30 which was last year.

Firstly it was that age where I wanted to make it bigger. Secondly the passive income had been good enough for the standard of living I need anyway. And thirdly it was knowing (and I had known this for a long time before 30) that people were making a lot more money not working, so I thought well there's guys out there making hundreds of millions with their time, why would I want to be the guy in a job.

These days evey time I do something, I ask myself, is there a possibility to make exponential returns (3x, 5x, 10x) in a few years. If there isn't I don't bother because if I wanted low stable cashflow I would've stayed in my job.

 

Ok. If you are only 31.... Young gun! I think we need to hear more of your story.

 

Haha never been keen to share my life story, besides it's not that remarkable. There's lots of more successful young guns in town, from buying mines to building hotels in the city, they just don't like to publicise it. I'm just a lazy guy trotting along to be honest compared to some of these people.

 

Me too. Please share, even if broadly, without too many identifying details if necessary.

 

Retire really is the wrong term for anybody who is investing in their own investments. There will always be at a minimum some sort of management effort you will need to exert if only to do your tax returns.

We were running our own business and have done so since 1993/94. Prior to that I was contracting in IT and as such haven't been in direct employment since '91.

We have been investing in RE since 1985 and I could have quite work by 1993 and get by on rental income. Just not my style to just get by. Be it that even at that point we had 4 rental incomes with very little debt. My original aim was 7 rental properties.

Instead at this point an unbelievable opportunity came up and I decided to invest all my equity to establish a new business. This business took off about a year later and we managed to pay out all loans after a further 6 months. From then we started investing even more in RE. By 1998 I was concentrating more on building a RE portfolio which would replace my income from the business. Most probably had managed to replace our business income by 2003-4. We finished up our business in 2005 and started concentrating more on various building/renovating projects which are continuing to this day.

Always looking for opportunities. As a result we entered the USA market and ended up with a portfolio of 15 properties in Atlanta. Just had to spend 2-3 weeks sorting out the paper work for the USA portfolio.ala my comment 'there is always tasks to be done.'

We have always taken regular holidays either in Australia or overseas but have now decided to up the holiday factor.

So as such I will never retire as there will always be something to do in my little empire. Presently 61 years

 

Have a friend who retired (he was one of those lucky ones who lived in the golden street in Epping and got an unbelievable offer from Chinese developers!)...then his wife quit her job slightly later...

Now both are ready to kill each other with the time they have together...last i hear is the wife wants to "unretire"...true story i swear!

 

I took 2 week holiday in Jan. I didn't plan anything for the family.. There was a few days waking up late at home and trying hard to find something to do, and there was this moment I think retirement is overrated.

 

Oh dear! Work is overrated; retirement is overrated..no wonder i have lost my mojo

Maybe i shd consider something risk(ier) in life ..like the Atlanta market

 

I think for most it is not the 'retirement' that is the goal but the freedom of not being a wage slave.

 

i think you missed the flight to Atlanta for sight seeing.. perhaps MTR can hide you in her luggage if you're nice

 

The only way is to try to become in--between the boss and the wage slave where you are no longer a boss or waiting for the pay cheque each week and it's not about the money just the freedom to say no..

 

I have known a few people who could retire at any point but don't for a variety of reasons. Some don't want to spend too much time around the house with the spouse, other think they will have nothing to do if they quit.

But one who received a large inheritance commented that his whole preception of work changed because he now had '**** you power'. His wealth enabled him the freedom to quit work at a moments notice and that has changed his whole outlook.

 

But did you have an unlimited budget for spending on things to do?
I find it difficult to understand how it would be hard to find something to do.
If you work hard AF in your job, retirement should be very appealing.
I plan to retire hard AF very, very soon, and will likely still not have enough time to do all the things I want to do.
Playing hard is definitely more appealing than working hard.

 

I think I decide to retire about once a week.. but then get a reality check when I look at my bank statements.

 

Classic, never seen that one before.

I could write an essay on the rationale of owning my own home and putting funds away for financial independence but it can be said in total by 2 letters...FU.

I should be a little more like him....another goal for 2017 for me☺

love it, great post.