Author Topic: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55  (Read 19233 times)

hammiehaack

  • 5 O'Clock Shadow
  • *
  • Posts: 16
I plan to retire from my current job at the age of 55. That is nine years from now. I will have a nice pension (over 100 percent funded that will be approx. $44,000 annually) and will have zero debt and a decent 401K balance. Heath insurance is the only unknown as my employer does not after health insurance for retirees.

I'm soooo tired of people telling me I can't do this. Is anyone else having this issue?


Thegoblinchief

  • Guest
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #1 on: June 05, 2014, 08:01:23 AM »
No, not really. My goal is 45. The few times I mention it, people usually congratulate me or are so speechless they don't comment at all.

If you're sick of comments, stop mentioning it!

CarDude

  • Pencil Stache
  • ****
  • Posts: 611
  • Location: Chicago, IL
  • Beep Beep!
    • The CCD
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #2 on: June 05, 2014, 08:03:06 AM »
Hah, they're totally jealous. You can do it.

Luck12

  • Bristles
  • ***
  • Posts: 344
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #3 on: June 05, 2014, 08:05:21 AM »
Funny since 55 is considered late here.  People are mostly stupid and assholes.  Too stupid to see another way apart from the well worn path and assholes b/c they are never really happy for you. 


hammiehaack

  • 5 O'Clock Shadow
  • *
  • Posts: 16
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #5 on: June 05, 2014, 08:18:45 AM »
I suppose I don't really think of these people as haters or assholes. I just don't understand why people can't step back and look at how they are all foolishly spending their money. Or how they plan to keep foolishly spending their money in the future. I seem to get a lot of questions regarding health care which really is such an unknown right now considering the Affordable Health Care Act is new and I am sure will go through a whole bunch of changes over the next nine years. But, the way I see it, I will be able to afford health care for my myself and my husband when the time comes.

« Last Edit: June 05, 2014, 08:28:49 AM by hammiehaack »

dude

  • Handlebar Stache
  • *****
  • Posts: 2353
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #6 on: June 05, 2014, 08:22:07 AM »
I plan to retire from my current job at the age of 55. That is nine years from now. I will have a nice pension (over 100 percent funded that will be approx. $44,000 annually) and will have zero debt and a decent 401K balance. Heath insurance is the only unknown as my employer does not after health insurance for retirees.

I'm soooo tired of people telling me I can't do this. Is anyone else having this issue?

Yeah, with my wife!  :-)  She's slowly coming around though.  I too, plan on hitting the road at 55 (54.5, actually!), and she's perplexed as to why I'd willingly give up a 6-figure salary.  So I've slowly but surely been showing her the numbers.

JoyBlogette

  • Stubble
  • **
  • Posts: 242
  • Location: Canada
    • My Journal
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #7 on: June 05, 2014, 08:38:15 AM »
My plan is to retire at 40.  When I told my new financial advisor (we just moved) he said "Ha, ya, good luck with that" So I fired him.  The best part was he just finished a long brag about how he was a super retirement planner.  What an idiot.  Now I understand why most Mustachians manage their own money.

shotgunwilly

  • Pencil Stache
  • ****
  • Posts: 547
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #8 on: June 05, 2014, 10:20:39 AM »
My plan is to retire at 40.  When I told my new financial advisor (we just moved) he said "Ha, ya, good luck with that" So I fired him

This makes me smile so hard. :)

And about mustachians managing their own money because of dumb "financial advisors"... I totally see that.  There are alot of "professionals" who in my opinion shouldn't be giving the advice they do.  A good example in my life is school counselors.  In both high school and my university (A top university in my state), the counselors I had pretty much had no clue how to structure a schedule to fit a time period of a degree in the most efficient way.  I would get their advice and pretty much say "forget it, I'll do this shit myself."  And it turned out much better.

boarder42

  • Walrus Stache
  • *******
  • Posts: 7849
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #9 on: June 05, 2014, 10:51:38 AM »
my plan is to retire at 35 100% or plan B will be to take 2 months off a year over my PTO. starting at 30 then take 4 months off per year at 35 and retire at 39 fully.  wife is slowly coming around she thinks we need to work til 50... if we do that and cont. with our plan of no kids we could live like kings. 

Emg03063

  • Bristles
  • ***
  • Posts: 458
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #10 on: June 05, 2014, 11:16:31 AM »
If you're sick of comments, stop mentioning it!
^this.

Jamesqf

  • Magnum Stache
  • ******
  • Posts: 4047
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #11 on: June 05, 2014, 11:23:41 AM »
If you're sick of comments, stop mentioning it!
^this.

Yes.  I have the opposite problem: either people think I already am retired ('cause I work from home), or they just can't understand why I don't want to ever retire.

dragoncar

  • Walrus Stache
  • *******
  • Posts: 8514
  • Registered member
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #12 on: June 05, 2014, 11:23:55 AM »
If you're sick of comments, stop mentioning it!
^this.

Q. How do you tell if someone is planning retiring early?

A.  They'll tell you!

Mrs.FamilyFinances

  • 5 O'Clock Shadow
  • *
  • Posts: 92
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #13 on: June 05, 2014, 11:30:02 AM »
I made the mistake of casually mentioning ER when my aunt brought it up. She's 51, and not set yet to retire, so when I mentioned that my husband will be retiring at 43, she said it wasn't possible because of 401(k) rules, Roth penalties, medicare, SS, blah blah blah.  I don't think she is jealous, I think some people truly believe it is not possible to retire early because of "the system".

Threshkin

  • Handlebar Stache
  • *****
  • Posts: 1025
  • Location: Colorado
    • My Journal
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #14 on: June 05, 2014, 11:35:46 AM »
I plan to retire from my current job at the age of 55. That is nine years from now. I will have a nice pension (over 100 percent funded that will be approx. $44,000 annually) and will have zero debt and a decent 401K balance. Heath insurance is the only unknown as my employer does not after health insurance for retirees.

I'm soooo tired of people telling me I can't do this. Is anyone else having this issue?

This thread is amazingly timely.  I am trying to "ER" at 57 but everyone I talk to about it, including my wife keep saying "You are too young to retire!".  Everyone else I can ignore but I need to bring my wife around to the idea.  I just started a thread on building a retirement plan.

Poorman

  • Bristles
  • ***
  • Posts: 260
  • Age: 41
  • Location: Orange County, CA
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #15 on: June 05, 2014, 11:58:05 AM »
No, not really. My goal is 45. The few times I mention it, people usually congratulate me or are so speechless they don't comment at all.

I'm guessing these people think it's not possible, but keeping it to themselves to be polite.  I've decided not to mention early retirement plans to anybody (besides my wife) because it will elicit mostly negative reactions or disbelief.  There's probably not much you can do to convince people if they don't want to believe, so I'll wait until ER to inform the people that I think can handle it.  The rest I'll probably appease by telling them I run a business.

Yeah, with my wife!  :-)  She's slowly coming around though.  I too, plan on hitting the road at 55 (54.5, actually!), and she's perplexed as to why I'd willingly give up a 6-figure salary.  So I've slowly but surely been showing her the numbers.

I've known for quite a while that ER would be in my 40's but I hadn't started talking to my wife about it until recently.  She's already on board with frugality, so there was never an issue with getting our finances lined up, but I realized there's still a mental barrier to leaving a career behind that she will need to overcome.  If I started showing spreadsheets with numbers it would make her eyes glaze over though.  Her initial reaction was "What will I do with all that time?" which I thought was funny because she is a school teacher with 10 weeks off every summer.  I think early retirement is so uncommon, and virtually never portrayed in the mass media, that people have a hard time envisioning it.  Part of bringing the spouses around is painting a picture for them of what life will be like.  At least that's what I feel like I need to start doing.

mbl

  • Bristles
  • ***
  • Posts: 311
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #16 on: June 05, 2014, 12:15:08 PM »
And that is just the point.   What would one's life be like if retirement comes while relatively young?   Not everyone has a clear image of the things that they would be doing to construct that life of freedom and command over all your time.  For some it might be scary.  Particularly for those that don't have as many interests/activities/passions....call it what you will. 

In addition, for some, a certain amount of self-esteem is garnered from how their work defines them.   The old...."oh, what type of work do you do?"...."Um....I don't work....I'm retired"....."Oh?...eyes glaze over...

Social engagement is very important as well.  Who will you be spending your time with?    This would only apply to those that enjoy social contact and interaction. 
 
Just some musings.   I do believe that for some people, their work is enjoyable and isn't something that they seek to escape from.

Exflyboy

  • Walrus Stache
  • *******
  • Posts: 6161
  • Age: 57
  • Location: Corvallis, Oregon
  • Expat Brit living in the New World..:)
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #17 on: June 05, 2014, 01:23:36 PM »
Well I just retired at 52 and didn't have any savings in 1997 plus a $160k mortgage.

The house is now paid off and my net worth around $1.4M.

I rather enjoy the stunned disbelief when people ask me "what I do"...:)

Frank

Luck12

  • Bristles
  • ***
  • Posts: 344
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #18 on: June 05, 2014, 01:33:52 PM »
I rather enjoy the stunned disbelief when people ask me "what I do"...:)
Frank

"Whatever the hell I want to, sucka.  By the way, how are you enjoying those staff meetings and conference calls?" 

Exflyboy

  • Walrus Stache
  • *******
  • Posts: 6161
  • Age: 57
  • Location: Corvallis, Oregon
  • Expat Brit living in the New World..:)

dragoncar

  • Walrus Stache
  • *******
  • Posts: 8514
  • Registered member
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #20 on: June 05, 2014, 01:40:08 PM »
I think early retirement is so uncommon, and virtually never portrayed in the mass media, that people have a hard time envisioning it. 

Jeeze just watch a few sitcoms.  I plan to sit around all day in a coffee shop with my friends.

http://youtube.com/watch?v=0R2fcxPYbzQ

Jack

  • Magnum Stache
  • ******
  • Posts: 4734
  • Location: Atlanta, GA
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #21 on: June 05, 2014, 01:43:58 PM »
And that is just the point.   What would one's life be like if retirement comes while relatively young?   Not everyone has a clear image of the things that they would be doing to construct that life of freedom and command over all your time.  For some it might be scary.  Particularly for those that don't have as many interests/activities/passions....call it what you will.

Maybe that's an advantage of being a millennial: I've spent enough time unemployed that I have a very clear image of what I could be doing with my free time (the only difference with retirement is that I'll have money to actually do them...).

Mississippi Mudstache

  • Handlebar Stache
  • *****
  • Posts: 2158
  • Age: 35
  • Location: Danielsville, GA
    • A Riving Home - Ramblings of a Recusant Woodworker
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #22 on: June 05, 2014, 01:54:11 PM »
And that is just the point.   What would one's life be like if retirement comes while relatively young?   Not everyone has a clear image of the things that they would be doing to construct that life of freedom and command over all your time.  For some it might be scary.  Particularly for those that don't have as many interests/activities/passions....call it what you will.

Maybe that's an advantage of being a millennial: I've spent enough time unemployed that I have a very clear image of what I could be doing with my free time (the only difference with retirement is that I'll have money to actually do them...).

Haha, that's awesome :) The first time I realized how much I could love retirement was in grad school. My gawd, it was awesome. I taught one class a week, took a couple hours of classes 2 or 3 days a week, and the rest of my time was spent on "research" and my "thesis". "Research" consisted of 3 months in Brazil, subsisting on beans and rice, spending a few hours a day in the lab and the rest of my time on the beach. "Thesis" consisted of spreading out about a month of actual work over the course of a year, and doing whatever the hell I wanted to in my spare time (which, for me, meant building a log cabin using only hand tools and building some furniture in my shop). And for all that, they paid me $15,000 a year and free tuition. Plenty of money for food, gas, and beer. Like I said, it was freaking awesome. Sometimes I regret going to grad school, because it didn't help me at all in my career path, but when I think about it like that, it was essentially 2 years of retirement before I even started my career. Yeah, I don't regret that at all :)

dragoncar

  • Walrus Stache
  • *******
  • Posts: 8514
  • Registered member
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #23 on: June 05, 2014, 01:57:49 PM »
And that is just the point.   What would one's life be like if retirement comes while relatively young?   Not everyone has a clear image of the things that they would be doing to construct that life of freedom and command over all your time.  For some it might be scary.  Particularly for those that don't have as many interests/activities/passions....call it what you will.

Maybe that's an advantage of being a millennial: I've spent enough time unemployed that I have a very clear image of what I could be doing with my free time (the only difference with retirement is that I'll have money to actually do them...).

Haha, that's awesome :) The first time I realized how much I could love retirement was in grad school. My gawd, it was awesome. I taught one class a week, took a couple hours of classes 2 or 3 days a week, and the rest of my time was spent on "research" and my "thesis". "Research" consisted of 3 months in Brazil, subsisting on beans and rice, spending a few hours a day in the lab and the rest of my time on the beach. "Thesis" consisted of spreading out about a month of actual work over the course of a year, and doing whatever the hell I wanted to in my spare time (which, for me, meant building a log cabin using only hand tools and building some furniture in my shop). And for all that, they paid me $15,000 a year and free tuition. Plenty of money for food, gas, and beer. Like I said, it was freaking awesome. Sometimes I regret going to grad school, because it didn't help me at all in my career path, but when I think about it like that, it was essentially 2 years of retirement before I even started my career. Yeah, I don't regret that at all :)

Yeah, I worked a few year in between undergrad and law school, and at the end of law school I was worried I might need another "education sabbatical" in a few more years.  Then I found ERE/MMM and realized it could be an "anything I want, eternal sabbatical"

TreeTired

  • Bristles
  • ***
  • Posts: 449
  • Age: 135
  • Location: North Carolina
  • I think we can make it
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #24 on: June 05, 2014, 03:03:16 PM »
My last job was a night shift,  so many people that saw me hanging around during the day thought I was retired back then.   Other folks thought I worked at the school library because they frequently saw me working there (I was a volunteer).   

When my job ended  (I was 54 yrs old) I didn't know I was retired.  What I have since learned is that many people don't realize that if they just get the overhead under control (We had to sell our house and move to a lower housing cost area)  they could live quite well without working.   People are just too scared to get off the treadmill,  whether it is out of habit, or they don't know what else to do, or afraid they won't be able to get healthcare,  or else they have 2 kids remaining in high school with expensive unfunded college ahead (this last one would be a somewhat legit reason to keep working)

Jamesqf

  • Magnum Stache
  • ******
  • Posts: 4047
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #25 on: June 05, 2014, 03:07:42 PM »
I rather enjoy the stunned disbelief when people ask me "what I do"...:)
Frank

"Whatever the hell I want to, sucka.  By the way, how are you enjoying those staff meetings and conference calls?"

That says less about retirement, early or otherwise, than it does about choosing a career filled with staff meetings and conference calls.

RapmasterD

  • Pencil Stache
  • ****
  • Posts: 589
  • Location: SF Peninsula
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #26 on: June 05, 2014, 08:30:44 PM »
Your opportunity is to stop caring about what other people say and think. As a short term strategy, stop telling them. I mean...we're talking nine years.

Read up on crabs: http://en.wikipedia.org/wiki/Crab_mentality

iris lily

  • Magnum Stache
  • ******
  • Posts: 3229
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #27 on: June 05, 2014, 08:38:57 PM »
My plan is to retire at 40.  When I told my new financial advisor (we just moved) he said "Ha, ya, good luck with that" So I fired him.  The best part was he just finished a long brag about how he was a super retirement planner.  What an idiot.  Now I understand why most Mustachians manage their own money.
awwww, I love this!

jpdcpajd

  • 5 O'Clock Shadow
  • *
  • Posts: 97
  • Age: 44
  • Location: St. Louis
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #28 on: June 05, 2014, 10:00:06 PM »
I work at a place where everyone seems to work beyond normal retirement.  When the Office Manager said they were retiring at 66 I asked at a management meeting why they had waited so long. Man I was not expecting the answer I got.  One person I work with (a CPA no less) stated "that is the full retirement age for them."  I started to respond but was hit with that same person saying people haven't put aside as much as some.  This office manager is married to someone who worked for an auto factory and has full pension.  Our benefits include a 25% contribution to a fully vested retirement plan. this person worked for us for almost 18 yrs after a previous standard job with 401k etc.

I think for that person they enjoyed coming to work and it was the spouse who convince them to retire. they spend money on their rv and travel but they will have plenty and their kids will make out great.

the person that told me this was their "full retirement age" is in a similar position. spouse retired almost 10 yrs ago. 58 yrs old and waiting for full retirement age or later.   I kind of feel sad that one spouse is sitting at home while the other is still working because of a term that the government has established. 
they do not need any social security but it controls their lives.

greatest gift my dad did for his father in law, was to point out with his postal pension he could retire at a much earlier age than my grandpa thought he could.  Time well spent with Grandma before he passed several years later

MgoSam

  • Magnum Stache
  • ******
  • Posts: 3643
  • Location: Minnesota
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #29 on: June 05, 2014, 10:09:07 PM »
If it annoys you maybe use that as motivation to do it? The best way to silence a doubter is to prove them wrong.

vern

  • Pencil Stache
  • ****
  • Posts: 573
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #30 on: June 06, 2014, 12:52:43 AM »
I got a lot of that before I retired too.

The more that people told me it wouldn't work out, the more I realized I was doing the right thing.

Just look at the spending habits of the naysayers if you are worried!
« Last Edit: June 06, 2014, 12:54:58 AM by vern »

little_owl

  • Stubble
  • **
  • Posts: 158
  • Location: DC Metro
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #31 on: June 06, 2014, 03:29:10 AM »
I agree with others that ERE is best discussed with a limited community!

Personally, I keep my ERE plans quiet.  I am about 10 years away, according to my models, so I figure I have nothing to gain by sharing my plans broadly.  At work, I need to keep moving up and making more to help beat my current model.  Among my family, most of them just would not understand.

I recommend prattling on about ERE here, and in other forums, and with close like-minded friends and family.  There are 3 people in real life that know about our ERE plans, and I am cool with that.

I also look forward to being on the other side (very much so) - retired at 40 and everyone very flummoxed about what I do all day, etc!

Good luck :)

fishingman88

  • 5 O'Clock Shadow
  • *
  • Posts: 20
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #32 on: June 06, 2014, 03:55:57 AM »
Interesting because I try to surround myself with friends who are trying to retire early as well.  A lot of my friends want to retire before age 40 and we push each other to live a more frugal lifestyle to accomplish our goals. 

Just keep living your life and don't mind what the other voices are saying around you.  I find that I want to be surrounded by people who are curious and want to know how they can accomplish an early retirement and are willing to learn.  For people who keep telling you that you can't do it, I believe they don't want you to succeed because they may harbor some sort of envy.

quilter

  • Stubble
  • **
  • Posts: 149
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #33 on: June 06, 2014, 05:41:45 AM »
It is really important to envision what your life will be like when you do not have to work for money and start developing those skills now. It is easy to say "I'm going to get in shape, learn a language, hike the Appalacian trail"etc. , but making the real life switch could prove to be more difficult.  You don't want to end up in a recliner worrying about the stock market.

So the money aspect is certainly the most important, but developing your new lifestyle is equally as important. It seems like one of the problems people have with their spouses is that "what will you do all day" question. 

DH loved his job, and worked a few years longer than he needed to. I could not wait to get out at age 52. A little later than some here, but we still got all sorts of comments on the financial side. Because we travelled extensively, I am an artist,  love gardening, DH builds wooden boats (those beautiful strip Kayaks and canoes) we love to cook and distance bike ride, our plate was full from the first day we left the workforce. We swim almost every day and do country dancing.  Tons of fun for us.

So instead of wasting one minute listening to exasperating nay Sayers start to envision all the positive things you can do with all your free time and start working towards doing them. People truly believe you have too drive shiny new cars, buy new clothes and eat out, but does it seem like those people are any happier than you?  Let them wallow in their misery, because very few will understand what you are trying to do as the buy their coffee and drive their long commutes. Occasionally someone might catch on and try to emulate you, but I found that to be rare. Keep your life simple so you can spend your money on things that buy you pleasure. 
« Last Edit: June 06, 2014, 05:44:41 AM by quilter »

CarDude

  • Pencil Stache
  • ****
  • Posts: 611
  • Location: Chicago, IL
  • Beep Beep!
    • The CCD
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #34 on: June 06, 2014, 07:37:44 AM »
You don't want to end up in a recliner worrying about the stock market.

Hah. I love this.

dude

  • Handlebar Stache
  • *****
  • Posts: 2353
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #35 on: June 06, 2014, 07:50:50 AM »
And that is just the point.   What would one's life be like if retirement comes while relatively young?   Not everyone has a clear image of the things that they would be doing to construct that life of freedom and command over all your time.  For some it might be scary.  Particularly for those that don't have as many interests/activities/passions....call it what you will.

Maybe that's an advantage of being a millennial: I've spent enough time unemployed that I have a very clear image of what I could be doing with my free time (the only difference with retirement is that I'll have money to actually do them...).

hahaha!  Love it.  Reminded me of this NY Times piece from last fall:

http://www.nytimes.com/2013/11/05/booming/i-want-to-be-a-millennial-when-i-retire.html?_r=0

MidwestGal

  • Stubble
  • **
  • Posts: 117
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #36 on: June 06, 2014, 07:56:11 AM »
My spouse knows, you guys know, and that's about it.  I fear being 'that gal' who can be asked for handouts someday "because she can afford it", especially because a few people in my close circle of family and friends aren't the greatest at saving.  I know this after subtly trying, asking 'innocent' questions about certain things, and trying to prod people into thinking from angles other than the status quo.

I've seen and heard it happening to other folks and didn't want that for myself.  Some bowed to the pressure and others left because they didn't want to.  I do worry about my other half, who is completely guileless and can't necessarily tell when others are being deceitful.

DoubleDown

  • Handlebar Stache
  • *****
  • Posts: 1989
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #37 on: June 06, 2014, 12:28:45 PM »
Weird, I never encountered any haters when I announced my ER plans. I encountered a few incredulous people who thought it wasn't possible, but that was understandable and borne out of ignorance rather than being mean-spirited. They just assumed you need $5 - 10 million to retire, and that of course you need at least $10,000/month to live "comfortably" in our high cost of living area. 99% of the reactions were all either positive or, at worst, confused/uninterested. By far the most common response I heard was, "Did you win the lottery?"

deborah

  • Walrus Stache
  • *******
  • Posts: 8563
  • Location: Australia or another awesome area
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #38 on: June 06, 2014, 06:27:25 PM »
When I retired my parents were very anxious that I would have enough money for the rest of my life. Dad is always quite conservative about how much you need in retirement - and justifiably so. When they retired, interest rates were low if they were 10%, so they didn't really have enough when interest rates went down so much. They also lost a lot in the GFC. I just kept telling them that I would have enough - not to splurge, but to keep living the life I have always lived.

They have always recognized that I am the frugal member of the family, and that the lifestyle I live doesn't need much money, so it wasn't a really hard sell (I just had to sell it a million times). To a certain extent retiring before 55 was easier to sell because my best friend died of pancreatic cancer on her 60th birthday - six weeks after it had been diagnosed, and after I started to talk about retirement. I also took a year off work before retiring. That convinced me that retirement would work for me, but also convinced others, because I wasn't "working one day - retired the next". I didn't actually work after my year off.

Another issue with my parents was that my brother retired at about 40, and has "done nothing" and has been "wasting his life" ever since. This is actually true - he plans to do lots of things (going to uni and becoming a teacher, traveling the world...), and does none of them. I think he has been clinically depressed ever since he stopped working, and has been unable to organize anything ever since. So I felt I had to show that retirement would work for me.

My father got cancer 2 years ago, and if I hadn't retired before 55, it would have been unworkable. I am so glad I am retired, and my parents are glad that I can visit them every second week (it takes 7.5 hours driving to get there) - although they worry that I am doing too much for them.

So even though there were some problems with retiring before 55, they all disappeared within a couple of years of me retiring.

iris lily

  • Magnum Stache
  • ******
  • Posts: 3229
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #39 on: June 06, 2014, 07:10:38 PM »
55 was my number, but I'll be 60 when I retire.

Back then I really wasn't ready, didn't hate my job, was making decent money with 40 hour a week input. It was still somewhat interesting. I''m now on the fence  whether that was a good decision or not. I really LIKE black belt frugality so we would have had to scale down in expenses if I stopped working at age 55, but we know how to do that. The health insurance thing was the big unknown although at the time my employer offered it to retirees if I paid the full price. Then a few years ago they stopped that.


Mortgage Free Mike

  • Stubble
  • **
  • Posts: 129
  • Age: 34
    • Save on Almost Everything
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #40 on: June 07, 2014, 05:19:54 PM »
You can totally do it. People who CANNOT do it are usually the ones doing the judging. Trust your gut.

Cassie

  • Walrus Stache
  • *******
  • Posts: 5522
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #41 on: June 07, 2014, 05:36:00 PM »
Health insurance can be the biggest retirement expense if you are older. The state does not charge active workers that much for health insurance but really hits the retirees hard in terms of cost.  We pay $10,000/year.

libertarian4321

  • Handlebar Stache
  • *****
  • Posts: 1370
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #42 on: June 08, 2014, 05:22:22 AM »
Corporate drones who live the typical "make good money, spend all of it, and then some" American lifestyle will never understand.

When I was around 39, I started a new job.  At the end of the year, I had the tradition BS "evaluation" where I had to start with a "self assessment."  One of the questions asked "where do you see yourself in 5-years?"  I thought about filling in the traditional buzzword filled, insincere, corporate bull crap (something like "I want to achieve synergies using XYZ corporation paradigms to better serve our clients and lead XYZ corp to global domination), but instead I decided to be honest and wrote "I'll be retired and laying on a beach in Cancun sipping a Margarita." 

Needless to say, I was excoriated for "not taking the process seriously."  At XYZ corp, evaluations took on almost a religious level of seriousness, and since I, in their opinion, dared to mock the process, I was clearly a poor employee with a bad attitude. I tried to tell them that I was serious, I would be retired in 5 years.  Then they really got pissed about my "bad attitude" and told me to write a real goal.  So I copied and pasted some BS out of the corporate manual.

I actually ended up retiring earlier than I'd planned- probably so I could avoid another "evaluation." :)

Most people just won't get it.  They'll tell you it's impossible.  Well, it is impossible for them, because they are undisciplined idiots.  That doesn't mean it's impossible for you.  Set the goal, work hard to achieve it, and enjoy the rewards for 5-, 10- or 20-years while the idiots who said it was "impossible" fight traffic every morning and trudge into work so they can pay off their debts...

iris lily

  • Magnum Stache
  • ******
  • Posts: 3229
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #43 on: June 08, 2014, 06:17:04 AM »
Health insurance can be the biggest retirement expense if you are older. The state does not charge active workers that much for health insurance but really hits the retirees hard in terms of cost.  We pay $10,000/year.

We will pay $16,000 for 1 year of COBRA-mandated coverage which we choose to take before trying out Obamacare. But we can afford it, not a big deal.

The knitter

  • Stubble
  • **
  • Posts: 119
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #44 on: June 08, 2014, 06:40:43 AM »
Corporate drones who live the typical "make good money, spend all of it, and then some" American lifestyle will never understand.

When I was around 39, I started a new job.  At the end of the year, I had the tradition BS "evaluation" where I had to start with a "self assessment."  One of the questions asked "where do you see yourself in 5-years?"  I thought about filling in the traditional buzzword filled, insincere, corporate bull crap (something like "I want to achieve synergies using XYZ corporation paradigms to better serve our clients and lead XYZ corp to global domination), but instead I decided to be honest and wrote "I'll be retired and laying on a beach in Cancun sipping a Margarita." 

Needless to say, I was excoriated for "not taking the process seriously."  At XYZ corp, evaluations took on almost a religious level of seriousness, and since I, in their opinion, dared to mock the process, I was clearly a poor employee with a bad attitude. I tried to tell them that I was serious, I would be retired in 5 years.  Then they really got pissed about my "bad attitude" and told me to write a real goal.  So I copied and pasted some BS out of the corporate manual.

This is why I would never mention any early retirement plans in my office. It would seriously hurt my annual review, which I need to get renewed each year. I really love my job and I'm not ready to give it up quite yet. That doesn't mean I won't be there in another five ten years.

Villanelle

  • Magnum Stache
  • ******
  • Posts: 2639
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #45 on: June 08, 2014, 08:34:19 AM »
This type of thread always perplexes me.  I don't really tell strangers/people to whom I am not close about my retirement plans. Or any other major life plans, for that matter.  And I certainly don't engage in back and forth arguments about it.  if someone said that ER wasn't possible, I'd shrug and say something like, "we'll see, but I hope you are wrong" and move on, totally unbothered by their skepticism and ignorance.

So talk about it less in general circles, and don't engage when people question it.   

Frugal Father

  • 5 O'Clock Shadow
  • *
  • Posts: 89
  • Age: 31
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #46 on: June 08, 2014, 02:36:59 PM »
This type of thread always perplexes me.  I don't really tell strangers/people to whom I am not close about my retirement plans. Or any other major life plans, for that matter.  And I certainly don't engage in back and forth arguments about it. if someone said that ER wasn't possible, I'd shrug and say something like, "we'll see, but I hope you are wrong" and move on, totally unbothered by their skepticism and ignorance.

So talk about it less in general circles, and don't engage when people question it.   
This is similar to how I feel about it. Whether I'm talking to someone about ER (which doesn't happen often at all) or just financial topics in general (like why I make my lunch every day while others eat out), if they say that it's impossible or that I'm losing out on fun, I just smile and go on with my business. I know what I'm doing. I know that it works. And I don't need someone else's approval to actually make it happen. So it doesn't bother me one bit if they mock. I just move on and hope that someday they'll see the light.

Nords

  • Magnum Stache
  • ******
  • Posts: 3181
  • Age: 58
  • Location: Oahu
    • Military Retirement & Financial Independence blog
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #47 on: June 08, 2014, 02:40:42 PM »
I'm soooo tired of people telling me I can't do this. Is anyone else having this issue?
It's extremely common in the U.S. military:
http://the-military-guide.com/2010/10/14/myths-of-military-retirement-and-early-retirement/

Our real friends understand, but I think our neighbors have decided that I'm chronically unemployable.

Jon_Snow

  • Magnum Stache
  • ******
  • Posts: 2872
  • Location: An Island in the Salish Sea (or Baja)
  • In Baja....there is no kale.
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #48 on: June 08, 2014, 02:51:59 PM »
I'm calling it quits at 42 - just a few months from now in fact. Apart from my wife, no one knows - largely because I know exactly the reaction I am going to get. Just going to spring it on everyone and try to savour the reactions, as annoying and complainypants as they are likely to be.


brewer12345

  • Handlebar Stache
  • *****
  • Posts: 1386
Re: Annoyed by People Keep Telling Me I Won't be Able to Retire at 55
« Reply #49 on: June 08, 2014, 07:05:27 PM »
Recognize that wanting/planning to retire at an early age compared to "normal" (65) is far, far out of the mainstream of American society.  You have done something similar to confessing a devotion to a cult, telling people you want to get a sex change operation, etc.  It just isn't done, and with the streak of Puritanism that still pervades some of American culture (work is important and good for its own sake), you are really pushing it.

I mentioned it to a few people early on in my career and the reaction was not positive.  After that, I only said something to friends.  They don't seem to understand either.  That is OK with me.