When are you planning to retire?

Hi Everyone
I am 41 and I will be financially free in five years.I do have a few speed humps to overcome.The biggest one is my partner, putting all the speed humps he can found in my way,BUT I am determined and I will get over them all.
Lisa
I Steve sorry I didn’t get to catch up with you long enough the other day to tell all I’ve been up to.

Hi steve

My comments are slightly off the topic but here they are.
i “retired” in 2003 when i was 39 years old, thanks to the rise in the property markets in OZ and NZ. My retirement plan was to move to NZ for a year to enjoy the beautiful country and dabble in the property market, at the same time i wanted to use this time to work out what God wanted me to do with the next phase of my life.

When you don’t work you need to fill your time in somehow. For me i’m helping with things at my local church and I ended up stating up a business that at some times is like a full time job and at others gives me the flexability to do as i please (i just returned from a 8 week family holiday to the USA). The great thing is i don’t have to do it. I could never imagine working for someone else again, in fact i’ve had dreams where i’ve had to (yuk).

I don’t like the idea of “retirement”, the concept of sitting around doing nothing is a complete waste of existence, surely we are on this planet for something more than to live a life of self luxury.

regards westan

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Retired full time at 39 but after spending 2 years playing golf each day and dropping kids to school and rushing home to catch lunchtime shows such as Dr Phil i am going back into the workforce for a break.

My father told me you need to plan for retirement or you get bored and how right he was. At least if I go back to work I can have an excuse why I dont have time to undertake all the minor jobs around the house.

Cheers Richard
[email protected] http://www.yourstatefinance.com Development Finance & US Finance our speciality.

1. Both the wife and I are 35 and have been investing for 12 years.

2. We have a goal of retiring from work in April 28th 2007.

3. The financially free thing is a bit subjective and dependent on how we restructure the assets. We could pull the pin now and live in a debt free PPOR with income of $ 150 K p.a., without eating into capital, but then where is the fun of that ??

We have other plans that involve financially controlling big chunks of the Perth CBD. Giving ourselves the next 60 years to achieve this, we reckon we’re about on track. We won’t be happy until the Dazzling label is slung across the top of the old R&I tower.

Cheers,

Dazzling

“No point having a cake if you can’t eat it.”

Iam 23 and about to finish my studies and join the work force.
Plan to be financialy free by 35 and retire at 40.

I plan to do this by saving hard and only buying real assests such as investment property and shares.

I’m with seechange, I think you retire from ‘jobs’ but if you are self employed or an investor you just keep going. I have never had a real job because I got lucky in property and just carried on from there. I must admit that the peoperty I have (or would consider to purchase) has to have an ‘special’ feature about them. So perhaps I am a collector rather than an investor and to that extent perhaps I am retired.

Hi,

Now: 30 (well 29 and 9 months, but close enough)
Retired: 35
Financially free: 45

Definitions:
Retired in my books = not working for “the man”. I’d still be doing things for money as at that point I would still need money, but it would be more on my terms.
Financially free = Doing things and if money results then so be it, but it wouldn’t be required. Also I’m being fairly conservative on the 45 bit. It is assuming I continue in a rut as I am now without making any more real deals or increasing my income (so unlikely).

As for comments re: never retired because it’s wasting your time. That is just a clarification on the word retired. I’m a computer nerd at the moment so I’d retire from that. In my retirement i”m going to continue on with my home workshop fabricating / restoring motorcycles and cars. I’d also do odd jobs for others in exchange for money and I’d sell my fabrications (and art). Does that mean I’m not retired? I think retired is a state of mind. Building a V-Twin engine from billet and home-cast componentry for sale in a fully custom one off artwork motorcycle would be retirement for me but work for another.

Oh, and I haven’t mentioned my ambitions to brewery ownership! [biggrin]

Hi All
I tend to agree with Westan as far as the word retirement goes. I remember reading an article on retirement a few years back that reported than a big majority of people who retired to the so called easy life lasted around 2 to 5 years before popping of this mortal coil.
Now; that is not something I want to do for awhile so I have exactly 0% interest in retirement.
That doesn’t mean I want to keep working in a normal job or run a small business to make a living: I can think of much better things to do. What it does mean is that you have to do things you like to do and earn good money at the same time. If your job is making you stressed out and ill, then find something you like to do.
It is not going to be easy, but show me something that is worth anything and is easy, chances are you will not find it. There is an old saying ‘something you get for nothing is worth exactly what you paid for it’: nothing.

I am 55 and came to this conclusion only lately, so I am doing something about it now.
How much do you need to have in dollars to feel satisfied? Well I would like around 1 to 2 million passive income a year. That’s the goal I am aiming at and I will just have to see what transpires down the track.
Most of you guys are starting a lot younger than me so you can spare yourself a lot of hard work doing something you hate just to survive.
You just have to drop the word retirement from your vocabulary and think of it as a change in life direction instead.
Kerwyn.

1. Getting older by the day – 43 now.
2. Recently “retired” from the workforce. Was a finance executive earning around $160K p.a. No longer needed the money due to income from investments.

I enjoy retirement. Not bored at all.

Live in Melbourne. I read a lot – subscribe to The Age, Herald Sun, Financial Review, BRW, Shares Magazine, The Bulletin, The Economist.

Also enjoy reading investment books and some fiction books.

Enjoy travelling – been to London, New York, Hong Kong, Singapore, Malaysia and many parts of Australia (Sydney, Cairns, Perth, Adelaide, Brisbane, Gold Coast, Tasmania, Sunshine Coast, Snowy Mountains).

Also enjoy sports – play tennis, swim, riding a bike and running.

Watch movies in cinemas or on DVD, eat out at restaurants, go to concerts / musicals.

Enjoying life. Carefree existence – freedom to choose and do what I enjoy. Life is good. [biggrin]