When do you want to retire?

Discussion in 'Investor Psychology & Mindset' started by D.T., 27th Nov, 2015.

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When do you want to retire?

  1. Already have

    15 vote(s)
    15.0%
  2. 1 yr

    2 vote(s)
    2.0%
  3. 2 yr

    5 vote(s)
    5.0%
  4. 5 yr

    20 vote(s)
    20.0%
  5. 10 yr

    34 vote(s)
    34.0%
  6. 20 yr

    16 vote(s)
    16.0%
  7. Never

    8 vote(s)
    8.0%
  1. bobbyj

    bobbyj Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    325
    Location:
    Sydney
    Goal is to become financially free at 40 (in 10 years time). Happy to keep working if I enjoy my job at the time.
    Ideally an income similar to what Im earning now >$150k

    Vehicle: combination of shares and mostly property. Still in slow accumulation phase.
     
    D.T. likes this.
  2. legallyblonde

    legallyblonde Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    858
    Location:
    TAS
    My retirement is far far away... But I am hoping working is not going to be a chore!!!
     
  3. GoOnAndTell

    GoOnAndTell Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    107
    Location:
    Melbourne
    want or will? And i suppose what 'retired' means.

    i would like to be managing my investments with in 10 years rather than pulling a wage or at least working by choice because i want something as a treat.
     
  4. OC1

    OC1 Well-Known Member

    Joined:
    6th Jul, 2015
    Posts:
    212
    Location:
    Melbourne
    I want to retire a multi-millionaire next year and do SFA all day long. I'll be good at that.

    Why would you want to keep working and working, really?
     
    Last edited: 29th Nov, 2015
    mrdobalina and Biz like this.
  5. Ace in the Hole

    Ace in the Hole Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,492
    Location:
    Sydney
    I reckon most of the poll results are due to people's pre-determined plans/goals with a planned timeline on achieving this.

    How about this example.
    Offer high school, college, uni graduates, all who have not yet experienced the workforce, 10 million dollars cash to do with what you please, no catch.
    Ask them, do you want to go into the workforce for a while to see what its like, or just retire now?

    How many are going to want to go to work, instead of traveling the globe?
     
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  6. D.T.

    D.T. Specialist Property Manager Business Member

    Joined:
    13th Jun, 2015
    Posts:
    8,597
    Location:
    Adelaide, SA
    Although impossible to do, I think that'd be a great experiment.
    A few would grow it into a fortune, a few would blow it in a couple of years, most would (try) make it last their last time. Do you think it'd be like a bell curve?
     
  7. skater

    skater Capitalist -- www.skatepro.com.au Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    3,064
    Location:
    Sydney
    This is us. Doing what we want, when we want it. Retiring isn't sitting around and doing nothing. It's doing what you WANT. And it doesn't mean not ever earning an income either. Life is good.
     
  8. Travelbug

    Travelbug Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    495
    Location:
    Sydney
    I couldn't do SFA. That was my major concern about retiring really, that I'd get bored.
    I was one of those ones that said "I love my job and don't want to retire". Things change. I still love it but I don't want to do it every week. Doing 3 days a week for the last 2 years has been great though. It's time. I've been working for nearly 40 years with only short breaks for babies. It's time for more me time.

    I keep looking out the window at my motorhome and telling her -soon we'll be driving around wherever we like. :)
     
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  9. RetireRich101

    RetireRich101 Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,150
    Location:
    Sydney
    How about this? When you feel bored down the track, buy a worn down house in another state. Park your mobile home there for few months while you're doing the reno. Do one of these reno every few years when you're bored. Make sure your mobile home has a big tool box..
     
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  10. Lil Skater

    Lil Skater Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    815
    Location:
    Melbourne
    16 years to be precise for me.

    I will be 40 and know that goal is incredibly achievable. I'm a bit of a workaholic though, so I feel I will need to do something with my time which might include doing some training in PM. We'll see :)
     
    D.T. likes this.
  11. keithj

    keithj Well-Known Member

    Joined:
    14th Jun, 2015
    Posts:
    177
    Location:
    Blue Mtns
    I too find it impossible to do SFA. I've been dead for 4 billion yrs - and it was to quiet for me! I've only got another 50 yrs to pack as much stuff as possible in before I'm expecting to be dead for a lot more millenia.

    Yeah... whenever people say that to me, I ask them if they loved retirement when they tried it.... Oh I haven't tried it....:eek:

    My view is that my life should be about doing things that I want, rather than what other people want me to do.
    Congrats Travelbug.... I hope to meet you on the road someday....:)



    FTR... I retired 10+ yrs ago, my wife retired 17 yrs ago - almost all income is passive (17yo daughter is the only one who goes to work in our family :D)
     
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  12. Travelbug

    Travelbug Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    495
    Location:
    Sydney
    Sounds great except we can't carry tools. Believe me my hubby won't be able to avoid fixing things. If he sees something that needs fixing he HAS TO fix it. While travelling in the motorhome I'm thinking he may be able to do a few odd jobs. The thing is convincing him to not do everything for nothing.
    We may do a buy,reno,sell in a few years if the opportunity presents itself. We do like it.

    When i told my mum I was retiring she said "what are you going to do for the next 30 years?" There's longevity in our family.

    [QUOTE="keithj,
    Yeah... whenever people say that to me, I ask them if they loved retirement when they tried it.... Oh I haven't tried it....:eek:
    My view is that my life should be about doing things that I want, rather than what other people want me to do.
    [/QUOTE]
    Yeah. On my deathbed I'm pretty sure I won't be saying- I just wish I had worked an extra few years.

    [QUOTE="keithj,

    Congrats Travelbug.... I hope to meet you on the road someday....:)
    FTR... I retired 10+ yrs ago, my wife retired 17 yrs ago - almost all income is passive (17yo daughter is the only one who goes to work in our family :D)[/QUOTE]

    Thanks. That would be great.
    Congrats on being able to do what you want. I'm keeping some teaching stuff just in case but I think any teaching I do from now will be volunteer. Maybe sick kids in hospital, school of the air kids etc. I've done some English teaching in Indonesia which was great.
     
  13. lisawithane

    lisawithane Well-Known Member

    Joined:
    25th Aug, 2015
    Posts:
    49
    Location:
    Sydney
    I'd like to retire in 10yrs (50yo) or be in a position that I can work less and choose what work to do. At the moment work provides me with the income to invest and build a nest egg to have fun when we retire
     
    Dan Donoghue likes this.