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Early Retirement (2006)

philip.greenspun.com

21–30 of 308 posts

Re: Early Retirement (2006)

#21
post #8

Earlier quoted context omitted.

Those numbers are pretty optimistic for expenses if you live somewhere expensive, ever plan to get into a long term relationship and/or have kids, or ever plan to make a down payment on a house. I think your tax calculation is way low too, but haven't done the math.

Who needs to spend more than $5000 per month, not including mortgage?

[deleted]

Re: Early Retirement (2006)

#23
post #8

Earlier quoted context omitted.

Those numbers are pretty optimistic for expenses if you live somewhere expensive, ever plan to get into a long term relationship and/or have kids, or ever plan to make a down payment on a house. I think your tax calculation is way low too, but haven't done the math.

Who needs to spend more than $5000 per month, not including mortgage?

Who has a mortgage without interest payments?

Re: Early Retirement (2006)

#24

He's always been an interesting chap. I wish him well. > Most important, do not retire in the expectation that it will be easy to find rewarding non-profit volunteer work. Thankfully, this has not been an issue with me. I definitely don't have the massive nest egg that another commenter mentioned, but I've got enough to avoid starving, and I am happier than I ever thought I'd be.

Thank you for writing this. I was worried that I was planning to retire soon but never made a $250K salary, will not have $7M.

Re: Early Retirement (2006)

#25
post #8

Earlier quoted context omitted.

Those numbers are pretty optimistic for expenses if you live somewhere expensive, ever plan to get into a long term relationship and/or have kids, or ever plan to make a down payment on a house. I think your tax calculation is way low too, but haven't done the math.

Who needs to spend more than $5000 per month, not including mortgage?

No one needs to do anything, but most families living in silicon valley are probably spending more than 5k a month. 8% is also probably too high. S&P historical returns are 7%, plus 15% tax.

Re: Early Retirement (2006)

#26

He's always been an interesting chap. I wish him well. > Most important, do not retire in the expectation that it will be easy to find rewarding non-profit volunteer work. Thankfully, this has not been an issue with me. I definitely don't have the massive nest egg that another commenter mentioned, but I've got enough to avoid starving, and I am happier than I ever thought I'd be.

I have a church and spend some chunk of my active off-hours doing various activities there - maybe 10 hours a month. If I were to retire, I imagine that time would double or triple.

That's how I'd recommend viewing non-profit work in advance of retirement. Is there a non-profit you're spending effort on now? Spend more effort there. If not, it's probably a good idea to examine your values and find some organizations that advance them and start helping out.

Re: Early Retirement (2006)

#27
And people say studying humanities is useless...

Before you can even begin to approach questions like this, you have to get a lay of the land at least... read an article on philosophy and religion in the encyclopedia.

These aren't new questions. They've been dissected and applied to the furthest reaches of our understanding. It's all written down and at our fingertips 24/7.

They underlie the primary question in the article. Retirement is irrelevant. In a very roundabout way it seems like that is what Mr Greenspun is trying to say, but it kind of comes across as (the illustrious Gordon Lightfoot put it) a "rich man's spiritual".

> In olden times, the average person didn't expect to be happy.

How can this even be proposed? Maybe I just read way too into this. Is it a joke?

edit: I don't like leaving such negative comments. I envy Mr Greenspun. I'm not 37 yet but I'm not too far off, either. If I could retire at that age and spend the rest of my life exploring philosophy and leisure... well I could hardly think of a finer place to end up in one's life. Starting to ask the questions at all is how to start. Kudos.

Re: Early Retirement (2006)

#28

I couldn't understand how he continues to work for harvard and still call himself retired.

By dictionary definition, you have to have left your position of employment and left work.

But there's still some meaning in "not being stuck at work" and being financially capable of choosing what you do with your time. We don't have a single word for this, but we have some phrases, like "financially independent." Once you've reached this point, you might choose to do something that people will pay you for, or you might not. Either way, you're not obligated or chained to employment any more.

Using the term "retired" for that status is not a huge stretch.

Re: Early Retirement (2006)

#29
The greatest expense for me in retirement is now health insurance so it makes sense for me to instead work for insurance coverage and put my wealth towards an inheritance for my children. I used to naively believe once I paid off my mortgage, had a substantial retirement account and savings - a couple million dollars - I'd no longer work. It's also very difficult to get off of the treadmill of spending a lot of money on products and services - requires a massive life change I haven't been ready to perform.

It helps that I love to write software; I'd just continue writing software in retirement. I tried to retire once and I ended up writing software anyway, so might as well as get health insurance coverage.

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