Author Topic: Not quite so early retirement from CNN?  (Read 6602 times)

saber12772

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Not quite so early retirement from CNN?
« on: November 04, 2013, 02:44:18 PM »
After spending the last few years doing my best to conform to mustachianism, I chuckled to myself today when I saw the following CNN article entitled: 'How I Retired Earlier'.  If you check the retirement ages, I think the winner comes in at 49 years old, although the majority are close to 60.  Not necessarily antimustachian, but not particularly uber mustachian either. 

http://money.cnn.com/gallery/retirement/2013/10/30/early-retirement.moneymag/index.html

Mississippi Mudstache

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Re: Not quite so early retirement from CNN?
« Reply #1 on: November 04, 2013, 03:08:38 PM »
None of them retired "early", from my perspective.

randymarsh

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Re: Not quite so early retirement from CNN?
« Reply #2 on: November 04, 2013, 03:51:46 PM »
Lots of good advice though - live on 50% of your income, side hustles, don't sell investments in a panic, be willing to move, etc.

Zamboni

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Re: Not quite so early retirement from CNN?
« Reply #3 on: November 04, 2013, 04:46:18 PM »
True, and they are all doing it better than most Americans.

49 is pretty early since social security doesn't kick in for more than a decade at that age.

Stackfault

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Re: Not quite so early retirement from CNN?
« Reply #4 on: November 04, 2013, 07:31:35 PM »
I saw that too and had the same reaction.  Retiring in your late 50s or early 60s isn't early retirement.  Not a very helpful, interesting, or inspiring story.  Maybe we're just spoiled by MMM.

odput

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Re: Not quite so early retirement from CNN?
« Reply #5 on: November 04, 2013, 07:35:33 PM »
True, and they are all doing it better than most Americans.

Unfortunately better than most is still shockingly horrible

LDoon

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Re: Not quite so early retirement from CNN?
« Reply #6 on: November 04, 2013, 07:51:39 PM »
I read that article and though those people are not retired early according to MMM-circles, I was very glad to see that the article had valid advice.  Apply that valid advice early in life and retire earlier.  Most articles like that one are terrible, so nice to see something different.

iamlindoro

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Re: Not quite so early retirement from CNN?
« Reply #7 on: November 04, 2013, 07:58:35 PM »
I read that article and though those people are not retired early according to MMM-circles, I was very glad to see that the article had valid advice.  Apply that valid advice early in life and retire earlier.  Most articles like that one are terrible, so nice to see something different.

Yeah, I agree-- I don't think any of the advice in the article was antimustachian.  I think we've got to be careful to avoid elitism, as badass as it feels to be mustachian-- Anyone at any age can benefit from less consumption, lower costs, moving to areas with low cost of living, etc.  If the same people had done the same things 20 years earlier, they'd be badasses.  They're no less deserving of praise for having figured it out a bit later.

pac_NW

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Re: Not quite so early retirement from CNN?
« Reply #8 on: November 04, 2013, 08:17:07 PM »
Good lessons for us all.

Mississippi Mudstache

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Re: Not quite so early retirement from CNN?
« Reply #9 on: November 04, 2013, 08:25:30 PM »
I've got no problem with the advice- I just don't think any of them retired early. The only possible exception would be for the 52/49 year old couple. But my Dad and my grandparents both retired at 55, so that is what I have always considered a normal retirement age. I know my perspective is a little skewed, but it is what it is.

Dulcimina

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Re: Not quite so early retirement from CNN?
« Reply #10 on: November 04, 2013, 09:02:57 PM »
Lots of good advice though - live on 50% of your income, side hustles, don't sell investments in a panic, be willing to move, etc.
Also, use your retirement to do cool stuff like learning to play the standing bass or traveling around the country building houses for Habitat.

I personally find these stories inspiring.   These folks probably had to make tradeoffs - reduced pension, loss of retiree health benefits, and lower social security benefits - to retire when they did.  The ones in their fifties or younger had to figure out how to access retirement investments without penalties.  They had to be badass enough to ignore the conventional wisdom that says just save 10% of your income and you'll be fine. If they are in their sixties now, then they didn't have the benefit of an internet with easy access to strategies and blogs and calculators on how to retire early when they were in their twenties.  401ks and IRAs didn't come about until the seventies, Roths until the nineties, HSAs and all its lovely tax advantages until the 2000s. They figured it out and made it work for them










HamhockHammock

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Re: Not quite so early retirement from CNN?
« Reply #11 on: November 06, 2013, 04:45:31 AM »

Yeah, I agree-- I don't think any of the advice in the article was antimustachian.  I think we've got to be careful to avoid elitism, as badass as it feels to be mustachian-- Anyone at any age can benefit from less consumption, lower costs, moving to areas with low cost of living, etc.  If the same people had done the same things 20 years earlier, they'd be badasses.  They're no less deserving of praise for having figured it out a bit later.

I agree. I can't knock people who are doing it right, albeit after a late start. Compared to my parents--who are maybe a little older than these folks--they are all wizards.

oldtoyota

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Re: Not quite so early retirement from CNN?
« Reply #12 on: November 07, 2013, 02:56:42 PM »
After spending the last few years doing my best to conform to mustachianism, I chuckled to myself today when I saw the following CNN article entitled: 'How I Retired Earlier'.  If you check the retirement ages, I think the winner comes in at 49 years old, although the majority are close to 60.  Not necessarily antimustachian, but not particularly uber mustachian either. 

http://money.cnn.com/gallery/retirement/2013/10/30/early-retirement.moneymag/index.html

I am glad you posted this. I had a similar thought about the ages. Not exactly early.


oldtoyota

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Re: Not quite so early retirement from CNN?
« Reply #13 on: November 07, 2013, 02:58:54 PM »
I read that article and though those people are not retired early according to MMM-circles, I was very glad to see that the article had valid advice.  Apply that valid advice early in life and retire earlier.  Most articles like that one are terrible, so nice to see something different.

Yeah, I agree-- I don't think any of the advice in the article was antimustachian.  I think we've got to be careful to avoid elitism, as badass as it feels to be mustachian-- Anyone at any age can benefit from less consumption, lower costs, moving to areas with low cost of living, etc.  If the same people had done the same things 20 years earlier, they'd be badasses.  They're no less deserving of praise for having figured it out a bit later.

You're right. At the same time, there's so MUCH bad advice that I think, "Why stop halfway, Money/Kiplinger/CNN? Go all the way and show some true badassity!"

That article suggests--by the age of the people profiled--that one only retires when one is old.


pachnik

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Re: Not quite so early retirement from CNN?
« Reply #14 on: November 07, 2013, 03:13:32 PM »
My retirement won't be early either.  In fact I will be like a lot of the people in the CNN article - retiring at about 60.

I can't even say i figured it out later in life.  I didn't figure anything out.  What happened was that I saw an excerpt from the WaPo article in a blog that i read.  MMM's story sounded interesting and fortunately I checked out this blog.  And I've been here very happily ever since!

I am sure that the CNN article will at least get some people thinking about their retirement.   Hopefully, people will read the article rather than just think to themselves "well, that won't work for me" and move to the next thing. 
« Last Edit: November 07, 2013, 09:00:55 PM by pachnik »

mpbaker22

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Re: Not quite so early retirement from CNN?
« Reply #15 on: November 08, 2013, 10:53:09 AM »
None of them retired "early", from my perspective.

49 is early, but just barely.  55 should be the minimum cutoff to be considered early, even by mainstream standards.

abhe8

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Re: Not quite so early retirement from CNN?
« Reply #16 on: November 10, 2013, 12:32:58 PM »
I read that article and though those people are not retired early according to MMM-circles, I was very glad to see that the article had valid advice.  Apply that valid advice early in life and retire earlier.  Most articles like that one are terrible, so nice to see something different.

Yeah, I agree-- I don't think any of the advice in the article was antimustachian.  I think we've got to be careful to avoid elitism, as badass as it feels to be mustachian-- Anyone at any age can benefit from less consumption, lower costs, moving to areas with low cost of living, etc.  If the same people had done the same things 20 years earlier, they'd be badasses.  They're no less deserving of praise for having figured it out a bit later.

+1

positive change is positive change, even when it comes later in life.