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Maybe because there was no Internet when I was younger but I see so many people hoping to retire by 40 it seems bizarre to me. I'm sure I may have dreamed of it but had no real plans to do so.

I've always worked with tech folks and people getting paid a decent salary, and a very good one for the tech couples but I have never known anyone that retired before 55.

I just wonder how many that do retire before 40 or 45 will end up needing to go back towork down the road. I can understand someone hitting big on stock options or an inheritance but otherwise it seems tough to me, especially considering the market has done well the last decade or more but expecting it to continue for decades to come isn't likely.

Just seems like a ton of fire posts at various financial forums the last year or so.
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I don't know. I spent the last 20 or so years reading from certain stock-loving-centers who, we can assume have done the math, that it hardly, barely matters when you start working or when you start retirement. It always seems to work out the same. The only difference seems to be between having enough and having 10 times enough, or some such.

I'm not saying I necessarily subscribe to that notion en toto, math or no math, but that's been the prevailing view among the FIRE boosters.
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"Just seems like a ton of fire posts at various financial forums the last year or so. "

******************************************************************

Many folks were placed in a position where they were laid off.
When you are laid off, you look closely at options you might be able to
consider about how to live with minimal outlays. You are basically forced to consider
how to "retire" from the workplace.

I extended a lay off into full time retirement - but the lay off came close to the time I
could "stretch" to my full retirement age - so not "early retirement" just "get the heck out
of here" retirement.

Howie52
I highly recommend retirement to all comers.
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No. of Recommendations: 9
I highly recommend retirement to all comers

Me, too

Three years and four months since I last went in to work, and
- Number of days I've missed it: zero
- Number of days I've been bored: zero
- Number of days I've been busy: all of them
- Number of aerobic workouts I got in in 2020: 285
- Net worth: modestly higher than the day I quit - now well below 4% without counting social security

--sutton
enjoying the heck out of it
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No. of Recommendations: 9
richinaz: I just wonder how many that do retire before 40 or 45 will end up needing to go back to work down the road. I can understand someone hitting big on stock options or an inheritance but otherwise it seems tough to me, especially considering the market has done well the last decade or more but expecting it to continue for decades to come isn't likely.

FCorelli: I don't know. I spent the last 20 or so years reading from certain stock-loving-centers who, we can assume have done the math, that it hardly, barely matters when you start working or when you start retirement. It always seems to work out the same. The only difference seems to be between having enough and having 10 times enough, or some such.

</snip>


FCorelli is correct: The 4% rule allows you to survive the Stock Market Crash of 1929, the Great Depression, and the high inflation of the late 70's and early 1980's. If you don't happen to retire into the teeth of one of those events, the 4% rule will leave you with more money than you can spend 25 or 30 years down the road.

It was a revelation some 25 years ago when I put together the Excel spreadsheet that formed the basis for FIRECalc. In the vast majority of 30-year payout periods examined, our "4% rule" retiree ended up very wealthy -- very wealthy even after making 30 years of retirement withdrawals from the portfolio.

https://www.firecalc.com/intro.php

intercst
(27 years into the "4% rule")
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No. of Recommendations: 3
Like me, maybe they've seen parents, grandparents, family friends, and others, work all the lives to either die on the job (I knew a few who did that), retired for health reasons (and then died), or retired and then started to have health issues so they couldn't do anything anymore (1poormom).

I don't want to have too many regrets when it's over. And it will be over someday. I want to experience the world while I'm still able to.

1poorguy (back spasms today reminding me that the clock is ticking)
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I was 62 before I felt I could retire comfortably.

But...I am getting ready to head out for a long day hike in the Shenandoah Mountains after a good night's sleep and a leisurely breakfast.

Had I worked to the age of 65, I would now be at the office feverishly preparing for a trial and drinking coffee to revive myself after another miserable sleepless night filled with worry.

I will let y'all guess which lifestyle I prefer.
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I highly recommend retirement to all comers.

Amen brother.

ImAGolfer (retired '03)
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rich:"I've always worked with tech folks and people getting paid a decent salary, and a very good one for the tech couples but I have never known anyone that retired before 55. "

Well, I bailed at 52.5 out of the telecom industry.

For the year before that....there were half a dozen financial planners you could access on the web (most have disappeared other than FireCalc) that let you plan just about every scenario you wanted from interest rates/inflation, stock market annual gain, etc.

I did my budgets on what I'd need to live on - and had three -

First was the 'normal' 4% SWR budget - assuming no catastrophes in my life, no market 'worse than at any time in history', etc. Live happily in my current house with normal driving (and two cars), lots of trips, some international travel, etc. All the magazines, cable TV, etc, that I was currently getting.....

The second was 'economy'..survival budget - going down to one car, no cable TV, not many magazines, no eating out....etc...... less than half the first budget.

The third was 'more money that I currently was spending'.....

- ----

ran at least 50 scenarios of best to worst case planners - from only 2% return in stock market to 11%,....to low inflation to the inflation I saw in the 1970s/80s that hit treasury bill rates of 13% or more...

----

One day, my older co-worker asked if I would come to work 'for free'?....huh?

well, if you have enough of a portfolio to live on comfy for the rest of your life, all you are doing is piling up additional savings....that will either go to Uncle Sam (estate taxes then were 35% over $550,000) and your heirs as likely you'd be unable to spend it all. Thus....you were uselessly piling up more money you'd never use - so you'd be wasting your time working.....

that was enough to get me to take a 'buyout package'....and get the heck out of the industry before it cratered six months later, too! A year's pay to go away with health insurance for that year.

- - ---

Of course, for most of my time to age 65 and Medicare, the cost of health care was 'moderate' and steeply climbing toward the end....and now is a major deterrent to some to retire with big annual fees. Only a few can manipulate their incomes to get ObamaKare subsidies.....but you can try.....

Had a good time and been retired 20+ years already. Got more money than I can comfy spend....(and the last year it's hard to spend any on travel!).....or putting miles on the cars.....

Working to age 65....is OK if you have to.....but getting 'retired early' with sufficient savings is a whole lot more fun!

Now, some folks really enjoy working, enjoy the challenges, maybe are on the 'cutting edge'.....and that's their life passion - good for them.

For the 'rest of us' - it's doing work to make someone else rich or better off.....not necessarily 'us'....


t.
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No. of Recommendations: 20
I think a lot of people have just become disillusioned with the nature of much work in the modern era. Sitting in front of a screen in a cube all day leaves a lot to be desired. A lot of companies sort of expect you to give your heart and soul to the job, but won’t hesitate to lay you off if it suits them.

A lot of early retirees are not retiring so much as moving to something else, whether it’s building their own business, taking up writing or art, traveling and blogging about it, etc. I think it’s more about living life on your own terms rather than work itself, and not being subject to the whim/ direction of others.
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I think a lot of people have just become disillusioned with the nature of much work in the modern era. . . .

. . . I think it’s more about living life on your own terms rather than work itself, and not being subject to the whim/ direction of others.


So many in agreement with you.

Perhaps (most probably) that includes Meghan and Harry.

vez
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I think a lot of people have just become disillusioned with the nature of much work in the modern era


That may be true. In the "old" days people hung around for the pension that ~80% of workers had access to but now those numbers have dropped substantially.

And I know some were somewhat forced into retirement but many of the posts I'm referring to are from people employed but just looking to retire.

I turned 58 late last year and think it would be best to work until 60 (longer only if I'm doing something I like) but I'm stuck on a useless project at work I have zero interest in doing (ancient technology).

I'm still 21 months from collecting a pension and my health insurance (getting closer to being able to use COBRA to bridge that gap). I'm waiting on a new job but that is moving slowly although I hope it will happen in April/May. Not sure if I want to last that long in this job.

I could probably survive on 4% right now but will have more of a safety margin once the pension starts and a lot of safety room once I collect social security (initially plan to delay it for a while).

And my original post wasn't about me but just about the large number of people retiring early. 30, 35, 40, 45. I read a lot of stuff over at bogleheads and while many there may be close to top of the income ladder that certainly isn't true for all.
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"And my original post wasn't about me but just about the large number of people retiring early. 30, 35, 40, 45. I read a lot of stuff over at bogleheads and while many there may be close to top of the income ladder that certainly isn't true for all. "

Oh, it isn't about 'being near the top of the income ladder'.

It's mostly about living below your means.....and saving, saving, saving and investing, investing, investing......

When I was working (I'm single) I was saving 40% of my salary through 401K and private accounts. Still had lots of fun on my 4 weeks vacation but didn't blow a lot of money 'recreating' even there. No $10,000 trips to wherever.

If you want to retire at 50...you'd better be saving like crazy...and LBYM - which makes retiring even easier.

I probably hung on a year or two too long, too...boring work as my company was floundering and trying to merge (several times) and there was no money in budgets other than spinning wheels doing useless stuff. But they paid me well so I took the money.

Having a pension makes retiring even easier.

My dad worked 44 years for Ma Bell Telco....way back when. Wound up with 44 years of service (started at age 16 in 1932)..... and a pension of 44% of last 3 years average salary.... which when combined with SS, and some dividend income from Ma Bell stock.... served him well. Went out on disability at age 60 after heart attack. Lasted another 14 years but mom collected pension for another 11 years.

You don't find pensions like that, even at Ma Bell type companies.

Even the feds don't have 'pensions' these days but 'savings plans'.

Some teachers and state/county workers still get pensions. A lot of police and fire fighters get pension plans.

Some unions - still do but half of them are corrupt underfunded plans.....


t.
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I highly recommend retirement to all comers.

Amen brother.


My uncle told me "If your company offers you an early retirement buyout, take it."

I took his advice to heart. When I sensed a layoff coming, I told my boss "If they announce a layoff, I want to volunteer." I knew that I was safe, but played magnanimous by volunteering to safe the job of a more junior person.
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Tele I would strongly disagree with your statement that only a few can manipulate income to qualify for ACA subsidies. They don't go away until your income exceeds 400% of the federal poverty rate,which was north of $68,000 for 2021 ACA plans assuming a married couple.It is $51000 if you are single. It is extremely simple with just a little planning to qualify.
Having said that,when they go away they go to zero if you are over the limit,so you do have to pay attention.
Bottom line is if you are organized enough to be able to retire early it is simple to qualify for subsidies.

JK
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This wasn't intended to be about me but I went to work today, lasted 3 hours and told management I'm taking the rest of the week off and will ponder whether I will return. My main manager is on leave but he's known for a while that I'm not too happy and has tried to work with me but while I'm "old" I like working with newer technologies and not live in the 1990s like they are.

And I'm sure someone is thinking "well they will fire him". I always keep that in mind and that is certainly their right.

I think part of the problem is that I've been grinding through this for a good year and keep hoping the virus stuff improves and I'm running out of "grinding" energy and coupled with a decent amount of savings it makes grinding seem more painful.

Even if I quit here I most likely will do something in the next few months. I still have my security clearance which provides some job security/options.

Thanks.

And yeah, few regret retiring early.

Rich
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t. writes....

Some teachers and state/county workers still get pensions.

Actually, 85% of teachers in the US are enrolled in what are called defined-benefit pension plans.
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better off if 'they lay you off'..... you can collect unemployment for half a year - or longer under Biden...a couple hundred a week......

Be sure to use up your 'sick days'.....even if it is 'sick of work'....



t.
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Its not so much the ability to retire early....say before age 60. Its the ability to make that choice that matters. Some love their jobs, can easily afford to retire but don't wish to. I'd put these people into the 'retire early' group because they can retire, if they choose.

The military provides one of the only true 'retire early' opportunities for the average worker. After 20 years active duty, if one retires, their pension begins immediately and Tricare Prime is offered for health coverage at a very low cost (Annual premium of $606 for a couple with $0 deductible and small co-pays for services). The pension is also adjusted each year for inflation, I believe at the same rate as Social Security's COLA. For an enlisted member who enlisted at age 17 and 'retired' at 20 years will be 37 years old. I 'retired' at age 48. I don't know of any other career opportunity that matches this.

BruceM
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BruceM""After 20 years active duty, if one retires, their pension begins immediately and Tricare Prime is offered for health coverage at a very low cost (Annual premium of $606 for a couple with $0 deductible and small co-pays for services). The pension is also adjusted each year for inflation, I believe at the same rate as Social Security's COLA. For an enlisted member who enlisted at age 17 and 'retired' at 20 years will be 37 years old. I 'retired' at age 48. I don't know of any other career opportunity that matches this."

I suspect that pension really doesn't go far...... but you might get the health care benefits -

Lasting 20 years these days is also a bit challenging..they tend to get rid of people after 15 years to avoid the 'reaching 20 year' plateau......

Many retired military, if they had brains and got a good job, can transition to private sector at a defense contractor, triple pay and put in another 10 years to get benefits there...and often do. Or wind up at the pentagon with a planning job that goes on forever...at a fat salary.....

Few retire at 37 and live on a military pension......these days.

If you are unlucky, you get to man a forward base in Iraq or near Syria....or spend 20 years on an aircraft carrier, mostly at sea......

t
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As an ex-federal worker you might be surprised how many people assume federal workers can retire after 20 years similar to the military. The vast majority cannot. Certain specialize jobs such as law enforcement positions can but not the typical government worker.

And I'm not really trying to have anyone get rid of me, I like getting things done but I think I'm thoroughly frustrated with the lack of challenging and relevant work. I've been grinding through it thinking I will move on shortly but like with most things, covid has slowed that down by many, many, months and I think I'm reaching a breaking point. Fortunately with enough saved that I'm ok.

I've worked with a number of military and ex-military people. Officers tend to do quite well. The whole up/out thing is messed up like many things. Photos are even included in the promotion packages which I think is crazy since it leads to biases (hey I like how this person looks). The idea is to show you are in shape but I think a simple sign off by someone would do that.

Anyhow, thanks.
Rich
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My job was not bad--work with (mostly) good people, do important and interesting work, get paid OK, fairly good bosses over the years, work in a comfortable office, etc. But, there are always things that are grinding: Stupid procedures that make work harder to do correctly (but easier for upper management to believe they're "doing something"), mandatory new work processes that require an entire day of training to use the cumbersome new system (whose purpose appears to be making work harder), being responsible for certain things but not having authority aligned with the responsibility, quarterly layoffs as the company "right sizes," assumed availability for (unpaid) overtime on urgent projects, several unpaid temporary layoff weeks during the quarantine (because the company discovered that cost saving measure during the Great Recession), the company swapping jobs between sites requiring either an out-of-state move or a one hour greater commute each way, and the biggest and most universal of all--less control over one's time.

Working from home three or four days a week made me realize how much I liked not "going to work." Also, having saved and invested for three decades, there were the resources to live off investments. So, when the opportunity came up to stop working for salary, I took it. I haven't been bored, and the positives outweigh the few things I miss. Once the pandemic is over, I'm going to look into new opportunities, but right now I'm enjoying control over my calendar and my comings and goings. I have the full 140 quarters of employment, so my Social Security will be OK. Plus I have enough short term money to put off taking SS until FRA, which projects out to a lot less risk of a "worst case" financial scenario if my spouse and I live into our 90s (or if just one does).

There's just a lot of things that are unappealing about "having a job," but we put up with them because we need food, clothing and shelter for ourselves and our family. (Most of us also need a car, fuel and insurance to get to our job to pay for our home which we aren't at because we're at work...a weird feedback loop.) Hopefully, we choose a job we can tolerate and enjoy some aspects of for the many decades we need to work for money. But, at some point, we don't *have* to ride that merry go round. Some people would rather work until 67 and have a boat and annual expensive vacations. Others would rather not depend on a capricious company, "retire" at 60, and find enjoyment in something else. A few love their job/task/function, or find their identity in their job, and never want to leave. As my Econ teacher said years ago, "Ya' pays yer money and ya' takes yer chances."
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"A few love their job/task/function, or find their identity in their job, and never want to leave"

That's my sister....my BIL "retired early" at 50 with a nice pension but went back to work for a contractor to IBM maintaining software he had written in the 1970s but IBM didn't want to do internally....and did that for 10 years...retired for real at 60

Meanwhile, Sis was making big bucks as an Oracle database guru working for government contractors in the DC area.....and spending it on safaris to Africa, a trip to Antartica, a trip to Peru (Machu Pichu), a trip to Australia....great - work 48 weeks a year - take 3 weeks going someplace. Also did $60,000 addition/upgrade to kitchen in house.....

Did that till she was 68...... then hubby came down with pancreatic cancer at age 69. Lasted one year and sis had to take care of him for the next year - frequent trips to hospital for problems/treatment - and care at home 24/7.

Of course, their long term plan had been to spend decades together after sis retired for real at probably age 70.

Never happened.....

You never know. BIL had 10 years of retirement -

Sis is doing OK.....

She 'enjoyed' working to be able to spend $20,000-$30,000 on trips and other things.....

Me? Done enough travel and no compunction to trek to Australia to join the crowds at 'the rock' and see the Sydney Opera house. TV travel shows are better. Same for Antarctica.... you can see penguins at the zoo.....

seen enough of Europe - no compunction to go see another church, cathedral, or 'town square', canal, etc. Seen enough in 15 EU countries.

t
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Me? Done enough travel and no compunction to trek to Australia to join the crowds at 'the rock' and see the Sydney Opera house. TV travel shows are better. Same for Antarctica.... you can see penguins at the zoo.....

seen enough of Europe - no compunction to go see another church, cathedral, or 'town square', canal, etc. Seen enough in 15 EU countries.


I definitely enjoy western Europe, especially Germany, northern Italy, etc. And hope to get back again soon but honestly I really have nothing special left on my bucket list. Some places would be interesting to see but I have limits on how far I will fly (sorry NZ and Australia), safety of some locations and not exactly fond of the crowds/food in some places so I will skip those.

With some stomach issues, travel is always a delicate balance, especially flying.

I'm not an art person and I think we went in and out of the Louvre in about 15 minutes and just rolled our eyes at the huge crowd trying to get a view of the tiny Mona Lisa. Exploring the countryside, even within a train is more enjoyable or walking around non-tourist time and strolling into an uncrowded cafe enjoying a pastry while relaxing is more suited to me.
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It's doable, and doesn't need a fancy job or a windfall ...

I'm 55 and 9 months old, planning to give notice next week. I have worked for 20 years as an engineer (had a late start, been to too many grad schools and moved to US late). I saved at the maximum amount I can afford in the first 10 years or so to 401k and IRA, all Roth later on. Never lived beyond my means, but never lived frugally either. For the last 7-8 years, I only saved bare minimum in 401k to get match, and nothing in IRA, to help my cash flow. Had a divorce. I manage my own investment since I started working 20 years ago, mostly in growth stocks, been following TMF since their early days, remember Foolish Fours? I'm with the school of thoughts that when I have enough to retire safely, I will not work one more day. I'd rather go do things I want and enjoy my life. I like my job a lot, been with only 1 company for the whole 20 years, it's a nice place, wonderful people. But it takes the most valuable thing I have .. time. I have a long list of things I want to do for the next 40 years, it's like a whole new lifetime :)

When I realized I had a path to retirement at 55 a few years ago, it was life changing. It literally changed my view and attitude of my life, my work, and everything else. I also wouldn't change a thing on how to manage my investment after I retire, it does require close monitoring and lots of research and readings. Maybe one day when I don't want to spend the time, I will dial it back a little. I expect to withdraw more than 4% in the early years, but I fully anticipate the port will grow faster than withdrawals and I will end up with more money 30, 40 years later, a lot more.

dadoc
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When I realized I had a path to retirement at 55 a few years ago, it was life changing. It literally changed my view and attitude of my life, my work, and everything else.

Definitely. I can retire any time now. The only reason I haven't yet is 1) medical coverage (with some on-going issues), and 2) with COVID what else is there to do. When COVID is gone, so am I. Probably the end of this year. I still do the work I'm requested to do, and I do my best. But if they fired me tomorrow, so what? No big deal. That stress has been removed, and it is attitude-changing.
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I expect to withdraw more than 4% in the early years, but I fully anticipate the port will grow faster than withdrawals and I will end up with more money 30, 40 years later, a lot more.

I'd be somewhat worried about that part.
Why do you think the port will grow faster than withdrawals?
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Definitely. I can retire any time now. The only reason I haven't yet is 1) medical coverage (with some on-going issues),

You likely thought of this already but so many people I help don't consider this. You don't have to continue to work full time or for the same company to avoid having to pay for insurance out of pocket. There are quite a few good employers that offer benefits to part-time employees.

https://www.businessnewsdaily.com/5752-part-time-jobs-with-b...

https://www.moneycrashers.com/part-time-jobs-health-insuranc...

https://ptmoney.com/the-ten-best-part-time-jobs-with-benefit...

I would imagine that these lists are likely to grow with the potential for the increase in remote work.
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Right now I'm burning leave I've accumulated. I hope to do so until April and then will likely quit or ask for a LOA. If things go well I will have a new job by the summer.

Not really looking forward to moving a few more times but with an aging father back east, I think I should be closer to him.

The job search process is a big pain. I get tons of recruiters pushing jobs that don't match my skills (I doubt they even glanced at my resume), or jobs advertised as one thing but when you talk to them, it is another story.

In my case I'll go back to a known situation. If it falls through I will contact others I was talking with last fall before I told them I was moving in another direction due to the holidays and increasing cases of the virus.

I've been off work for a few weeks now. Just sitting outside enjoying the nice AZ weather, watching the fighter jets from Luke training and not having to deal with things is very relaxing. I've never been a person who enjoys doing nothing (sitting on a beach drives me crazy) so this is kind of new and won't last but with my ipad I can read financial stuff, sports and listen to my favorite sports station or MLB games.

At least I'm lucky to have a few options and a manager who is people oriented. I once asked him if he ever gets upset (I've known him since 2000) and he admits he has a long fuse. If the work was interesting or if I didn't have my father back east, I would have stayed here longer.

As far as money goes, I might withdraw more money early but once I decide to get social security I'd expect my WD rate to drop quite a bit, maybe to 2%.

My father retired in 1992 (he was 55/56) and is of the generation with a solid pension. He recently told me he has more money now than when he retired. Helps to retire at the right time and not have a lot of wants. I'm sure his biggest want at this time is better health.

Rich
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Why do you think the port will grow faster than [4%] withdrawals?

...because if the 4% SWR can handle the worst case scenario (drawing down to zero), the vast majority of time frames should see portfolios thriving.

That is: https://www.campfirefinance.com/4-percent-rule

Bengen identified the worst [30 year] ‘historical simulation’ (it occurred in 1966) and determined that the safest, maximum withdrawal rate during that period was 4.15%.
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I expect to withdraw more than 4% in the early years, but I fully anticipate the port will grow faster than withdrawals and I will end up with more money 30, 40 years later, a lot more.

I'd be somewhat worried about that part.
Why do you think the port will grow faster than withdrawals?

AC


In my case (which is much simpler than most), I have two reasons, my retirement planning and expected returns of my ports, which are somewhat relied on past performances ... I know, I know :) ... but they are useful reference points.

I have a 401k port, which is invested in about 8-10 mutual funds. Our lineup is very generous and very good. My 20-year CAGR is 9.3% (12.4% since 2009). I assumed 5% annual return moving forward since I'm too lazy to run all the scenarios. I'm keeping 30% cash now in anticipation of imminent withdrawals. At this rate, the port will last me at least until I turn 59.5 with a very generous annual expense budget (6 figures, including building a case reserve) which I can turn down a bit in bad market times. I will start to build a cash reserve of 6-12 months living expenses and eventually 18-24 months during good times (maybe ...)

My other much larger port is all in Roth, and all invested in growth stocks. I didn't keep an actual return from early years to account for contributions, but since 2012 when I stopped contributing, the 7-year CAGR till 2019 was 33%+, then last year just went stupid, which didn't change my plan but improved my margin of safety. Again, I assumed 10% annual return moving forward. Since I won't touch this port until I'm 59.5, there's enough time for this port to grow to a size that can afford me the luxury of planning the withdrawal% to build a bigger cash reserve in good years and not withdraw in bad years. My bet is any bear market will recover in 18-24 months, which is another past reference, but I'm willing to take the risk. No plan is 100% proof, if I hit the worst time in history in the next 40 years, oh well, so be it :) at least I would have enjoyed life some, and I'm not sure I would be better off by not retiring. So that's my rationale and risk taking. My case is also much easier than most, since I'm single and my only child just went to a good college, and I have another education port enough for him to go through any grad school. He can be on his own after that :) that's my inheritance to him (someone else said that too, IP?)

Thanks for reading,
dadoc
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Why do you think the port will grow faster than [4%] withdrawals?

...because if the 4% SWR can handle the worst case scenario (drawing down to zero), the vast majority of time frames should see portfolios thriving.


dadoc14 wrote "I expect to withdraw more than 4% in the early years".

How much more? dadoc14 hasn't said, yet.

I'd be worried about withdrawing more than 4%, given our current starting point - US stocks CAPE of 36, second highest in history, and Intermediate-Term Treasuries yielding 0.75%. Bengen's 50/50 portfolio of those two isn't looking real good. I expect dadoc14's portfolio is nothing like this, though.
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Oops! I wrote my post not seeing that you (dadoc14) had already replied.

I expect dadoc14's portfolio is nothing like this, though.

Very much not like Bengen's 50% US stocks/50% treasuries.

Best of luck, dadoc.
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I expect dadoc14's portfolio is nothing like this, though.

Very much not like Bengen's 50% US stocks/50% treasuries.

Best of luck, dadoc.

AC


Thanks, AC! We shall see .. :)

dadoc
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You’re are very convincing. I’m getting close to pulling that trigger. I feel selfish like my job isn’t that hard and I’m pulling 6 figures in so why would I quit that? My kids have friends who’d kill for this job but...it’s annoying going to work. Boring. I used to think 65, then 62, then 60....I’m 56. Don’t know if I want to put up with 4 more years. maybe I can talk the husband into 58. They’re paying him huge bonuses to stay, maybe they sense the restlessness. Don’t see the point until we can travel but then...

Y’all make it very tempting. Get my first shot next week.
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If you enjoy the work, then not wanting to retire is fine. But it sounds like you don't enjoy it. So go find something you DO enjoy, if you have the means. Though I get holding out until you can travel again. I'm doing that too. I project by the end of 2021, barring the unforeseen. In the meantime I collect my paycheck, and ESPP, and RSUs. Frankly, I'm going to spend most of my earnings this year on improvements. We just got the stucco repaired, for example. Repaired and painted. We may need to have someone look at the roof (actually, just the bit over the patio cover). And we will probably have a bit of gate work done. And likely a new car.

We've booked a cruise for Aug/Sep of 2022. Fully refundable. We'll definitely be retired by then, I think COVID or not.

1poorguy (was summoned to show up today to help with a problem...I was tempted to say "the Pro from Dover is here", but I suspect most of the yungins wouldn't get the reference; yeah, I appear to have verified where the defect was :-)
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MASH: The Pro from Dover
https://www.youtube.com/watch?v=KojghwX_9eM

intercst
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This board helped me gather the courage to quit at 62 instead of 65.

I was utterly consumed by my career for 38 years.

Now, 2 and 1/2 years later, I can hardly remember what I did for a living.

And even without travel I have read maybe 100 mystery novels and histories, hiked over 1000 miles on trails in the Shenandoah National Park and alleghenies, moved to a new town, helped with our youngest grandson during covid shutdowns, shoveled mulch, planted trees, slopped pigs, and other chores on my daughter's farm. And learned to help cook.

If don't love your job, and can afford to quit, you won't regret it. In fact, from what I have experienced and also seen from posts lodged here, you will sometimes wonder why you worked so long.

The one key is to have, or to build, a life outside of work. If your self esteem and social life are built into your work place, you may some sort of shock when you retire. I have heard of it and witnessed it, but it did not happen to me.
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We've booked a cruise for Aug/Sep of 2022. Fully refundable.

Last November we booked an Alaska sea/land cruise for June 2021. I figured 90% probability the covid nonsense would be over by then. My estimated probability kept shrinking, and in Feb was down to 25%. Late Feb the cruise got cancelled.

Aug/Sep 2022 is 90% probable a safe bet. But we've decided to just wait until everything has opened up.

Last year was the only year we didn't take a cruise in the last 15 years. ;-(
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"Last November we booked an Alaska sea/land cruise for June 2021. I figured 90% probability the covid nonsense would be over by then. My estimated probability kept shrinking, and in Feb was down to 25%. Late Feb the cruise got cancelled."

Yep....most the cruises start/end in Vancouver or stop there - and Canada is still 100% shut down to visitors unless they do a 14 day quarantine when they get to Canada.

Also kills any chances of visiting other Canadian seaports.

At the same time, travel up the Al-Can highway is restricted to 'essential travel' - as part of it is in Canada and access to it is in Canada.

If you want to to go AK, you gotta fly. Then maybe a short trip on the inland water way with some stops in AK......

Places like Sitka are really hurting - most of their visitors are cruise ships and some via land through Canada.

Who knows when Canadian border will re-open?

Maybe some cruise ships will figure out how to start in USA port, skip Canadian ones, sail up to AK......via inland water way ......


t.
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...with an aging father back east, I think I should be closer to him.

Yep. When my dad was in his late 70's, my parents moved to a place about an hour (or two, depending on traffic) from me, which was great. But when Dad was in his early 90's, that wasn't close enough, and my husband and I moved to be within 20 minutes of him.

Meanwhile, when Dad was in his mid-80's (about your dad's age now), we settled into a routine of going out for lunch once per week. That enabled me to notice the little things that were slipping, and pick up the pieces sooner rather than later, something that can't be done long-distance.

Good luck!
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The one key is to have, or to build, a life outside of work.

Thank you for adding "or to build"! At all the retirement seminars DH and I attended, pre-retirement, the mantra was to prepare for retirement by getting involved in activities that you could continue with later. You were supposed to figure out ahead of time what retirement would look like.

The problem was that, pre-retirement, we (and especially DH) had time for nothing but work. I assured him, "Don't worry, after we retire we'll have time to figure it out."
Which we did. We had time to investigate different options, to try different things, to enjoy new hobbies for as long as they interested us, to drop them and move on when we got tired of them.

So that worked.
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The problem was that, pre-retirement, we (and especially DH) had time for nothing but work.


Exactly this!! I don’t have time to do much outside of work, hence the desire for early retirement. Within the next 2 years, I think. I’ll be 58 or 59. Not too late to be able to do stuff!
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1pg: I'm going to spend most of my earnings this year on improvements. We just got the stucco repaired, for example. Repaired and painted. We may need to have someone look at the roof (actually, just the bit over the patio cover). And we will probably have a bit of gate work done. A

We just spent several thousand dollars freshening our house up (painting, patching, and de-cluttering), with the intention of selling sometime in the next twelve months. Planning to move to a retirement home (AKA Old Folks Home, or OFH.) The Countess approves of my goal of making the house "sparkle" - to get the best price and a quicker sale.

CNC
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So you guys have bubbled up to the top of the waiting list? Did they give you a move-in date yet?

1pg
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When it comes to hobbies, etc. in retirement, I think it just varies by person.

I've never been a sit around and do nothing person or one that enjoys lying on a beach. My vacations would be skiing or walking around cities in Europe. And when I'm off I'm on the computer doing stuff, whether it is a few games, financial, sports, technology, etc.

But I've taken off several weeks now and before that reduced my work schedule to 3 days a week. I've found simply sitting outside on the porch listening to sports and messing around on my ipad was very relaxing. I even pay attention once in a while to nature. We have a couple of small (I guess they all are small) hummingbirds that come around once or twice a day.

Will it get boring? Maybe. But is it preferred over going to work, yup. I still would like to find something part time to do from home since I like the tech stuff but just not the BS that comes with going to work. Most likely I'll take a new job this summer and try to last another 18 months and reconsider my plans.

I know others that claim they won't ever retire and maybe that is best for them. Of course if some of them actually took time off they may enjoy it, although others I'm sure would go crazy. One guy who had to take time off due to the office shutting down said it was going crazy w/o going to work.

I'm not sure where CNC lives, but most places now selling a house requires no work at all. I sold mine easily (it was in good condition) and told them no on everything in the home inspection.
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rich: But I've taken off several weeks now and before that reduced my work schedule to 3 days a week. I've found simply sitting outside on the porch listening to sports and messing around on my ipad was very relaxing.

I find my days are very full of my nothing. Some days I don't get around to it all, and it piles up and slops over to the next day.

The housing market here in Ellay is hot, hot, hot. Prices are up, and time on the market is down. But I want top dollar. An extra $100K would be nice.

CNC
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You’re are very convincing. I’m getting close to pulling that trigger. I feel selfish like my job isn’t that hard and I’m pulling 6 figures in so why would I quit that? My kids have friends who’d kill for this job but...it’s annoying going to work. Boring. I used to think 65, then 62, then 60....I’m 56. Don’t know if I want to put up with 4 more years. maybe I can talk the husband into 58. They’re paying him huge bonuses to stay, maybe they sense the restlessness. Don’t see the point until we can travel but then...

SG


Do it now :)

I know exactly what you mean, I used to think I "need" to work till 65 or sth ... but, if you can afford to retire now, and at 56 you can tap into your 401k to tie you over till other funds/SSB later, you should really think about it. I have a 6 figure cushy job too, and huge bonus. Easy job too, I carved a niche for myself, and I like my job (love is too big a word for jobs). But, TIME is more precious to me, I can do so much at 55 than 65 or 75, and WANT to do. And anything can happen at any time to completely change my life. So, if you hit the magic number of your planning, you should really think about what is more important ...

I don't even travel that much, maybe until I find someone to go with. But I can tell now that I will be much busier after I retire. So many new things to do, to learn, to work out more, to volunteer .. things that I never had time to even think about. It's literally a new life waiting to happen :)

Y’all make it very tempting. Get my first shot next week.

SG


Good luck! That's great. I will be the last group, whatever/whenever that will be.

dadoc
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I'm jealous! Not of the retirement - I "retired" 34 years ago but still work part-time for myself as an Enrolled Agent (tax work). But of being able to hike over 1000 miles on trails in the Shenandoan National Park. That is beautiful territory, but too far from my home to devote that much time to and derive that much pleasure from the effort.

Ira
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Maybe some cruise ships will figure out how to start in USA port, skip Canadian ones, sail up to AK......via inland water way ......

They can't, unless there is a change to the Passenger Vessel Service Act — passed in 1886 — which requires that large foreign-flagged ships stop in Canada before heading north to Alaska, or they reflag as US ships. Congress is working on making a change, but who knows if it will get passed? Reflagging as a US ship would probably be prohibitively expensive.

AJ
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No. of Recommendations: 14
If don't love your job, and can afford to quit, you won't regret it. In fact, from what I have experienced and also seen from posts lodged here, you will sometimes wonder why you worked so long.

I'm 56 now; retired at 51. I posted my questions and retirement plan on this board about 4 years ago and received good feedback.

I don't regret retiring early. I am surfing better now than ever before.
https://drive.google.com/file/d/13xJy9MbY1lYqGB39JM3b-Oazkq9...
https://drive.google.com/file/d/1x9gKDcUsOsAQL93AzhnaIZ_I9e5...
Not me: https://www.youtube.com/watch?v=AJIZLziBvmQ

Was able to travel as I wanted - including a bicycle ride across the USA in 2018
https://drive.google.com/file/d/181-Y9kWpHHwykCMh20FXhyfgHIb...
where I stopped and visited this place
https://www.youtube.com/watch?v=L2LJpicgA2E

Remodeled part of my house - it's easier to manage when you aren't working.

And spent time with brother and father before they passed away. My father moved in and I managed his hospice care until the end. That has no price. And by not working I was able to give it my all.

Time and health are now the most precious resources I have. I now have time to walk the streets with purpose and surprise https://www.youtube.com/watch?v=KJhLPkTKb8g&feature=emb_...

And time to volunteer at the local vaccination site. Once we all get the vaccine we'll be able to resume our favorite activities https://twitter.com/i/status/1372990374084550661 I'm looking forward to that.

So remember, "The three most harmful addictions are heroin, carbohydrates, and a monthly salary." https://threadreaderapp.com/thread/1253615784095387649.html

Do it now: http://boards.fool.com/what-have-i-learned-in-50-years-31670...

I wish you the best in your journey. I hope you are as happy as I was when finally reaching retirement day https://www.youtube.com/watch?v=vC8gJ0_9o4M
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Congress is working on making a change

Not.

It's called the Jones Act.

When Canada extended their "no foreigners and especially no tourists" prohibition to Feb 2022, the cruise lines lobbied Congress to waive the Jones Act. No dice.

That absolutely KILLED all Alaska cruises. All those cruises went to only US ports except for a brief required-by-Jones-Act stop at Vancouver or Victoria. There is no other non-US port that they can touch, so that prohibits Alaska cruises.

Many start or stop at Vancouver, some start or stop at Seattle but they still have to touch one of the V cities.
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When first I heard about that requirement I looked it up. I had forgotten it was passed in 1886, but I knew it was at least 100 years ago. It was meant to protect some American shipping group, as I recall. Instead it just caused inconvenience for passengers having to stop at a foreign port sometime during their voyage.

Though I believe a few cruise ships are flagged in the US so they can move around, for example, the Hawaiian Islands without having to cross the ocean to visit a foreign port. Though mainland to Hawaii requires a stop in either Canada or Mexico (the cruises I have seen all stop in Ensenada, I believe).
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Quibble: It's not the Jones Act. It's what AJ said: Passenger Vessels Service Act.

The Jones Act affects cargo. I looked both up, since we're on the subject and I didn't know about the Jones Act.

https://en.wikipedia.org/wiki/Passenger_Vessel_Services_Act_...

https://en.wikipedia.org/wiki/Merchant_Marine_Act_of_1920
...all goods transported by water between U.S. ports be carried on U.S.-flag ships, constructed in the United States, owned by U.S. citizens, and crewed by U.S. citizens and U.S. permanent residents.

While originally protectionist of the American merchant marine, apparently in modern times it is emphasized/justified as a part of national security.
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Congress is working on making a change

Not.


Really? From https://www.foxnews.com/travel/congress-asks-canada-reconsid...

Canada may not be the only route to a solution. Rep. Don Young, R-A.K., introduced the Alaska Recovery Act this week. The bill would provide a temporary workaround by considering roundtrip voyages between Washington state and Alaska to be foreign voyages for legal purposes.

and from https://www.usatoday.com/story/travel/cruises/2021/03/05/ala...

Sen. Lisa Murkowski, R-Alaska; and Sen. Dan Sullivan, R-Alaska introduced the "Alaska Tourism Recovery Act," legislation that they hope will temporarily relieve restrictions in place as a result of the Passenger Vessel Services Act.

That says to me Congress is working on a solution. Do you have some other evidence that it's not happening?

AJ
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Though mainland to Hawaii requires a stop in either Canada or Mexico (the cruises I have seen all stop in Ensenada, I believe).

There are Hawaii cruises that leave from Seattle that stop in Vancouver or Victoria.

AJ
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You’re are very convincing. I’m getting close to pulling that trigger. I feel selfish like my job isn’t that hard and I’m pulling 6 figures in so why would I quit that? ...but...it’s annoying going to work...I used to think 65, then 62, then 60....I’m 56. Don’t know if I want to put up with 4 more years...

Y’all make it very tempting. Get my first shot next week.


We are living parallel lives...although I do have young children still (8 and 10).
I am in real estate sales, and I have a massive closing at the end of this month. My 60th birthday is next month. I think I'm calling it...done!

Time to raise/play with kids, hike in the mountains here, ski a bit more...

Tim
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If you love what you do and the freedom to do it right, you won't work a day in your life.

So few people have that luxury.
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That absolutely KILLED all Alaska cruises.

I sure hope that, with vaccinations, they can manage at least a few cruises this summer. I sure missed the parades of cruise ships past my house last summer every weekend. Cargo ships and Navy ships are interesting, but there's something special about the cruise ships when they're all lit up.

AJ
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That absolutely KILLED all Alaska cruises.

I find it interesting the recent talk of cruises to Alaska (or lack of cruises). My wife and I lived in Juneau in the late 60's. I was in the Coast Guard stationed at Group Juneau. We provided supplies for five light houses in the Juneau region. We lived there approximately two years. In this morning's local newspaper there was an article about cruise ships possibly returning to Juneau. To my recollection I never remember seeing cruise ships in Juneau. Of course that's been over 50 years ago. Also the photos they show of Juneau are unrecognizable to either of us. It looks very touristy to me. I do recognize the steep mountain background though.

I have a sister that lives in Seattle and when we used to visit it always seemed very cold. On our return from a two year stay in Alaska suddenly Seattle seemed a bit on the warm side .... grin.

As an aside both of us have said without hesitation that given a chance we would both love to live in Juneau again.

Regards,

ImAGolfer (retired '03)
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AJ:" Reflagging as a US ship would probably be prohibitively expensive."

Yeah, the wage cost would likely quadruple as crew would be paid 'American wages' and 'union wages' .... now they get Panamanian wages.....get to bunk 4 or 6 to a sleeping quarter, work 10 hour shifts...etc...

And probably have to worry about 'greenie fuels' and file continuous reports about their carbon footprint monthly.....


t.
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Rep. Don Young, R-A.K., introduced the Alaska Recovery Act this week.
...
Sen. Lisa Murkowski, R-Alaska; and Sen. Dan Sullivan, R-Alaska introduced the "Alaska Tourism Recovery Act,"


Sorry, but bills introduced by congresscritters of the affected state do not constitute "Congress working on a solution". Congresscritters all the time introduce bills that go nowhere.



That says to me Congress is working on a solution. Do you have some other evidence that it's not happening?

No Vote Scheduled on Bill That Could Help Save the Alaska Cruise Season
https://www.cruiseindustrynews.com/cruise-news/24573-no-vote...


"Mar 8, 2021 · Alaska Republican Rep. Don Young's proposed Alaska Tourism Recovery Act would allow a temporary alternative to existing U.S. law, allowing ..."

Temporary. Not even a serious attempt to eliminate this stupid obsolete Passenger Vessel Services Act of 1886.


Basically all I know about the PVSA/Jones Act is what cruisecritic.com has reported. These two laws have essentially the same effect, albeit one is for passengers and the other for cargo, so I can see how they can be conflated.
Cruisecritic said that the cruise lines tried to lobby congress for a waiver and got nowhere. Also tried to lobby Canada and also got nowhere.

Thanks to 1poorguy, I now understand some things. We have been on several Alaska cruises. Our first one embarked in Vancouver and disembarked in Seattle. Others Seattle-Seattle with stop in Vancouver or Victoria. Others Anchorage-Vancouver. But never Anchorage-Seattle.
Our main cruise agent (TravelWithAlen.com), based in Seattle, put together cruise packages where you fly in to Seattle and take a bus to Vancouver, then on to Alasksa and disembark in Seattle (seldomly) or Anchorage (mostly). We *hate* that 8 hour bus ride---and we have several times embarked in Seattle. But now I know why we can't embark Seattle and disembark Anchorage.

I believe that main group preventing the repeal of this/these laws is the Maritime Unions. The PVSA is totally obsolete these days, since there is NO passenger traffic by ship. Only cruise tourism.


(the [Hawaii] cruises I have seen all stop in Ensenada, I believe).

The last one I looked at stopped there for approximately 2 hours. Just long enough to dock and open the gangway. There was a stink a few years ago when weather (a hurricane, IIRC) prevented a ship from hitting Ensenada. IIRC the fine got waived, due to hurricane emergency.
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"That absolutely KILLED all Alaska cruises."

I sure hope that, with vaccinations, they can manage at least a few cruises this summer.


Sadly, they won't. Holland America announced they cancelled all their Alaska cruises. https://www.hollandamerica.com/en_US/news/impacted-cruises.h...
Thru June, true--for now. But the season ends 1st of Sept, so only July would conceivably be possible. But the ports & tourism cannot staff up for only one month. Nor can the ships. Cruise ships now are mothballed with only minimum engineering staff. A ship has 1000-2000 housekeeping/food/drink staff, no way to get that many people (re)hired and (re)trained in any advance timeframe they would have. It's a least a couple of months of logistics work to restart.

In Nov Holland thought & planned to cruise in May & June. It surely was _very_ expensive for them to set up and then have to cancel & return everybody's money.

"It's dead, Jim"

I am sure the other lines are the same way. If you were a cruise line executive, you would have to be a dreamer if you thought you could cruise this year. And then, for only the month of July.



I sure missed the parades of cruise ships past my house last summer every weekend.

Yah, we missed our Seattle departure once due to flight delay and had to fly up from Seattle to Juneau, missing 2 days of the cruise. It was entertaining watching from our Juneau hotel the line of ships docking in the morning and departing in the evening. Until our ship finally caught up with us. Good ole Princess Cruise Line, they even rebated our fare for the 2 days were were not on the ship.
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Yeah, the wage cost would likely quadruple as crew would be paid 'American wages' and 'union wages' .... now they get Panamanian wages.....get to bunk 4 or 6 to a sleeping quarter, work 10 hour shifts...etc...


Not to mention that they would be American teenager staff working a sh*t job (their term) for the summer because Dad said I had to work this summer if I wanted to go back to college in the fall. Can you say Surly and Entitled?

As opposed to being grateful to get free room & board and working only 10 hours a day in air-conditioning, changing sheets & cooking food, instead of 14 hours a day digging ditches by hand in the hot sun, for pennies.

Why, yes, I have spoken to people who have been on the American-flagged Hawaii ship. How could you tell?
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You'd think the cruise lines would figure out a way to start in Seattle, make a 'two hour visit' to a port in Canada where one token person gets off, walks the gang plank to the end, stands on Canadian soil for 1 minute by him/herself, then promptly reboards the ship and and the ship sails right after that to AK.

Then again, with Keystone being 'canceled', Canada is not going to do the US any favors any time soon.

t.
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I feel selfish like my job isn’t that hard and I’m pulling 6 figures in so why would I quit that? My kids have friends who’d kill for this job but...it’s annoying going to work.

The one thing that this year drove home in force is that there is more to life than work.

.I’m 56. Don’t know if I want to put up with 4 more years. maybe I can talk the husband into 58. They’re paying him huge bonuses to stay, maybe they sense the restlessness. Don’t see the point until we can travel but then...

Finally got DH to "retire" at 58. His company would not approve more than one week work from home and suggested retirement when he asked for two, letting him know they would be happy to have him as a contractor. Since he had originally agreed to retire at 55, I got tired of waiting and headed south, telling him to join me when he was ready. The 8 hour one way commutes were getting to be a bit much, so he took his company up on the contracting position 3 years ago. Nice to get paid by the quarter hour, and it would have been cheaper for the company to continue to exploit him on salary for the 70+ hour work weeks he put in. Funny how the Pandemic made working from home much more acceptable. Bet they wouldn't blink now about his working from out of state 2 weeks a month.

Costs were cut way back during the pandemic and contract work went away in July, just returning last month. DH still enjoys doing it occasionally, but has really come to appreciate his "off" time, even if it tends to be filled with Honey Do lists. NOTHING impacts our pickleball schedule, other than the weather. Hasn't turned down a job yet, but they do manage to keep it interesting, which is critical to keep him satisfied.

Get my first shot next week.

CONGRATS! Ours are this week, and in 6 weeks we get to head down to see Eldest and wrap our arms around him. It's been 16 months and has been just about unbearable. We've decided one addition to spending when travel is more widely allowed will be a significant family vacation for the 4 of us every year, all expenses paid. I want this family unit tighter than ever.

IP
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You'd think the cruise lines would figure out a way to start in Seattle, make a 'two hour visit' to a port in Canada where one token person gets off, walks the gang plank to the end, stands on Canadian soil for 1 minute by him/herself, then promptly reboards the ship and and the ship sails right after that to AK.

Gosh, telegraph, I wonder why no cruise ship line thought of that? They must be dumb and you are smart, huh?

https://travel.gc.ca/travel-covid/travel-restrictions/border...

"You currently cannot enter Canadian waters for optional reasons, such as:
touring
sightseeing"

"The country has kept its border closed to nonessential foreign visitors for nearly 11 months"

"In early February, Canada extended its ban on cruise ships, prohibiting vessels carrying 100 or more people until Feb. 28, 2022."

"Only Canadian citizens, permanent residents and essential travelers are currently allowed into Canada"

Canada specifically forbids entry for tourism.
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Many start or stop at Vancouver, some start or stop at Seattle but they still have to touch one of the V cities.

</snip>


I wonder if Canada could set up some small, uninhabited island off the coast of British Columbia as a "cruise port" and then levy a confiscatory "port charge"?

Seems like the cruise industry would be willing to pay almost anything to get back to business.

intercst
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27 year old retires in school bus
https://money.yahoo.com/man-converts-school-bus-to-live-out-...

intercst looks like a slacker next to this guy.
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PSUEngineer posts,

27 year old retires in school bus
https://money.yahoo.com/man-converts-school-bus-to-live-out-......

intercst looks like a slacker next to this guy.

</snip>


Sure. It's just accumulated capital vs. annual living expenses. If you can live on less, you can retire earlier.

intercst
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intercst:"Seems like the cruise industry would be willing to pay almost anything to get back to business."

Could be, but Canada is ticked off at the USA for the cancellation of Keystone and there isn't going to be a US cruise industry after Biden stopped the Keystone pipeline.

Don't think the backers of the cruise industry can over ride the Biden greenie agenda.

Heck, they could just do a 2 hour stop where no 'tourist' gets off like they do for the US mainland to HI cruises where they 'stop' in Ensenada Mexico for '2 hours' and no one gets on or off the ship. At any Canadian port - leaving from Seattle going to AK.

Right now, the rules forbid 'tourists' even in Canadian 'waters' which is usually 10 miles offshore.


t.
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I wonder if intercst thinks this woman can retire. She is 54 years old, has $4.7 million in retirement assets, plans on living on $40k and has no mortgage.

https://www.marketwatch.com/story/im-54-years-old-with-a-sub...

PSU
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I wonder if intercst thinks this woman can retire. She is 54 years old, has $4.7 million in retirement assets, plans on living on $40k and has no mortgage.

</snip>


Sure. Even though she's too concentrated in Apple stock (i.e., $3 MM), she can live on less than 4% of the remaining $1.7 MM in assets.

That's not too different from the late 1990's when DELL was 75% of my retirement portfolio, but I was living on less than 4% of the non-DELL holdings.

Seems to me that she has a conservative, workable plan.

intercst
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I thought you were going to comment on the comment by the advisor on continuing to work.

PSU
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PSU,

I thought you were going to comment on the comment by the advisor on continuing to work.

</snip>


I just glossed over the advisor comments.

I've never understood continuing to work if you don't have to. But then, I never worked anyplace where people we're enjoying themselves so much, they'd work for free.

intercst
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"Even though she's too concentrated in Apple stock (i.e., $3 MM), she can live on less than 4% of the remaining $1.7 MM in assets.

That's not too different from the late 1990's when DELL was 75% of my retirement portfolio, but I was living on less than 4% of the non-DELL holdings.

Seems to me that she has a conservative, workable plan."

- - ---

Since all that Apple stock is in her IRA, the cost basis at the moment is irrelevant....and she should sell a good chuck of it and diversify. No tax consequences.

Heck, if she is living on 40K, and can live EVEN less expensively overseas where she hold dual citizenship, even better.

Heck, she should definitely retire NOW.

Of course, with those assets in the US, she'll be paying US income taxes for at least 10 years.

t.
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Last year I think I lived on $40k in my paid for house here in TX. Locked down for travel, all events I normally go to around the country canceled, no desire to be on week long trips staying at motels and eating out.....fewer miles driven. Eat more meals at home.

Biggest issue for early retirees is health care.

If she has a way to get decent healthcare in her other country , then retire and move!

Here- gotta figure out how to get health care at an affordable price till age 65 before you retire.

At 200K salary, for ten years, with some investment income, she'll pay another million in taxes to Uncle Sam, her state gov't, etc, for 'working'.


t.
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You do it.

Maintaining your website is work, I'm sure. But you apparently enjoy it, and you do it for free. (And we appreciate it!)

Depends what you're doing.
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Maintaining your website is work, I'm sure.

Looking at his website, he spends about 5 minutes a month on it. And I am being generous in that estimate.

PSU
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Looking at his website, he spends about 5 minutes a month on it. And I am being generous in that estimate.

</snip>


Bingo! That's why I'm still using Internet 1.0 HTML. I don't need the ad revenue and merchandizing deals of other retirement bloggers. It's more of a charity operation.

intercst
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I can't resist! I just announced I am retiring a couple weeks ago. My last day at work is a couple days away and I have vacation to take my employment through part of May. I turn 55 this month and have planned for this my entire career. I have been blessed that the plan has worked very well along with the assistance of the Motley Fool over the years to home my investing.

Good luck to all of you others that are making these decisions. It is amazing to me that even with all the planning, execution, etc. my emotions are all over the board on this. I am excited, anxious, worried, thrilled, giddy, hopeful and so many others. All of my work tells me there should not be any concerns at all, but those thoughts still creep into my head. I am sure that those will go away after I make the transition from saving to spending for a few years.

Take care, stay healthy.

Don
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Good for you!
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I can't resist! I just announced I am retiring a couple weeks ago. My last day at work is a couple days away and I have vacation to take my employment through part of May. I turn 55 this month and have planned for this my entire career. I have been blessed that the plan has worked very well along with the assistance of the Motley Fool over the years to home my investing.

Good luck to all of you others that are making these decisions. It is amazing to me that even with all the planning, execution, etc. my emotions are all over the board on this. I am excited, anxious, worried, thrilled, giddy, hopeful and so many others. All of my work tells me there should not be any concerns at all, but those thoughts still creep into my head. I am sure that those will go away after I make the transition from saving to spending for a few years.

Take care, stay healthy.

Don


Congrats, Don! My last day is in two weeks, I'm right there with you! Judging from what you wrote, you and I have probably both overplanned this, so I think we will be fine :) I was told the first thing to get used to is to slow down ... way down. Good luck!

dadoc
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I am sure that those will go away after I make the transition from saving to spending for a few years.

Don. Congratulations on your planned retirement. I don't know about others but I make more now than I ever did during my working life. In my case the transition from saving to spending was significant. After spending years of saving 20% of my earnings it's a huge boost not to have to do it any longer. In addition RMD's might be a pain to some but to me it's nice to have some money in the pocket, in the check book, in the savings account, in the brokerage account, etc.

Anyway I wish you the best and I'm sure your plan will work out and you can enjoy your retirement.

Regards,

ImAGolfer (retired '03)
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Sorry, but bills introduced by congresscritters of the affected state do not constitute "Congress working on a solution". Congresscritters all the time introduce bills that go nowhere.

And yet, some bills do end up becoming law. From one of our local Seattle news stations https://www.msn.com/en-us/travel/news/biden-signs-bill-that-...

Big news for our region’s cruise industry: President Biden signed the Alaska Tourism Restoration Act on Monday, which lifts a requirement that foreign registered ships traveling between the mainland United States and Alaska must stop in a foreign port.
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She predicts the Port of Seattle will see about 80 cruise ships for a shortened 2021 season, perhaps brining(sic) in a quarter of what the industry generates in our region during a typical year.


I guess they were so excited to publish the story that they only used spell check, and didn't actually read what was written. Or maybe they think that the tourists are going to be preserved? 😉

Holland America will start their cruises July 24 https://www.hollandamerica.com/en_US/cruise-destinations/ala...

Royal Caribbean will start July 19 https://www.royalcaribbean.com/cruises/?country=USA&date...

I look forward to watching the cruise ship parade go past my house again.

AJ
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Holland America will start their cruises July 24
Royal Caribbean will start July 19


The Alaska cruise season ends the first week of September. This season will be only 6 weeks long. Most of the workers at the ports go there for the entire May-to-September season, basically the summer session of college. I suspect that most of them won't want to go there for just a few weeks.

Better than a poke in the eye with a sharp stick, though, for people who really really want to go to Alaska this year.

FWIW, our first Alaska cruise was the first week of September, the ship was repositioning to Hawaii after that. (Our tablemates were staying on for the repositioning (cheap, cheap, cheap) and the next Hawaii cruise.)
The weather was lousy. Cold and rainy. The seasonal workers (mostly college students) seemed to life in tent cities off the main tourist streets. They were all packing up to leave.
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FWIW, our first Alaska cruise was the first week of September, the ship was repositioning to Hawaii after that. (Our tablemates were staying on for the repositioning (cheap, cheap, cheap) and the next Hawaii cruise.)
The weather was lousy. Cold and rainy. The seasonal workers (mostly college students) seemed to life in tent cities off the main tourist streets. They were all packing up to leave.

</snip>


The weather is getting warmer in Alaska.

Back in 2010, I did the first cruise of the season in May when there was still a lot of snow piled up on the streets in Anchorage, but the state was in the middle of a heat wave with temps in the 80's and low 90's.

We saw several giant icebergs calve off the Hubbard glacier (basically watching a 20-story building collapse and fall into the bay.) Captain said it was the most active he'd ever seen it.

Better go quick before it all melts away.

intercst
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The Alaska cruise season ends the first week of September.

Not anymore. When I first moved here, the ships stopped going by my house shortly after Labor Day. Every few years, they've been adding another week. This year, Holland America's last cruise ends on Oct 2.

Better than a poke in the eye with a sharp stick, though, for people who really really want to go to Alaska this year.

Well, there seems to be a lot of pent up demand to go someplace.

AJ
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