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How many years will you work ?

shan Iyer
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Joined: Jul 13, 2005
Posts: 391
I plan to work really hard till 40 , earn all that I can and then take retirement from work and do all the other extracurricular activities that I have always wanted to do !


Warm Regards, S.Iyer
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Christophe Verré
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Joined: Nov 24, 2005
Posts: 14688
    
  16

No matter how hard you work, isn't 40 a bit early ?


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Dave Lenton
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Joined: Jan 20, 2005
Posts: 1241
Given how little I can afford to put into my pension, and how low the state pension is, I expect to work until I drop.


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shan Iyer
Ranch Hand

Joined: Jul 13, 2005
Posts: 391
No matter how hard you work, isn't 40 a bit early ?


Prime time may be over at 40 . Your body may start complaining after that

Given how little I can afford to put into my pension, and how low the state pension is, I expect to work until I drop.


Some good investments now could take care of that problem
Nitesh Kant
Bartender

Joined: Feb 25, 2007
Posts: 1638

I would like to take up a consultant sort of a profile i.e. i work when i want sort of a thing
Then i would probably work for 6 months and enjoy for 6 months .... wooooooooooooooowwwwwwwwwww what a life !!!
Obviously, this is just a wishful thinking i guess
[ April 12, 2007: Message edited by: Nitesh Kant ]

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Rohit Nath
Ranch Hand

Joined: Jun 16, 2006
Posts: 387
Originally posted by Shankar Iyer:
I plan to work really hard till 40 , earn all that I can and then take retirement from work and do all the other extracurricular activities that I have always wanted to do !


It is always better to have a balanced life and enjoy it side by side!
Also we should not postpone things that mean a lot to us.
Who knows about tomorrow!
Also after 40 you wont be in position to enjoy all that you would have enjoyed before 40...! I would always prefer a balanced approach.
Cheers to life!


R.N
Dave Lenton
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Joined: Jan 20, 2005
Posts: 1241
Originally posted by Shankar Iyer:
Some good investments now could take care of that problem
They would if I had enough spare money to make investments! I am paying a mortgage, but that's about all I can afford investment-wise.

I don't think I'll have work full time forever, but it is highly likely that I'll have to do some kind of part time work to top up pension payments in the future.
Rohit Nath
Ranch Hand

Joined: Jun 16, 2006
Posts: 387
Originally posted by Satou kurinosuke:
No matter how hard you work, isn't 40 a bit early ?

Given the fact that today average human life span is 55-60 I think one deserves to spare some time for himself!
I read an article on "minimalists" these are the people who have decided to live a life in the minimalist way as they have already realised that they do not want to spend their lives earning money and mising all the simple but "good" things in life! They do not believe in postponing the good things and have understood that happiness lies not with money but with enjoying simple things in life.
I like that idea! Sweet!
fred rosenberger
lowercase baba
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Joined: Oct 02, 2003
Posts: 11480
    
  16

According to the Wikipedia:

Average Life Expectancy = 67
[ April 12, 2007: Message edited by: Fred Rosenberger ]

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ambar patil
Ranch Hand

Joined: Nov 29, 2005
Posts: 226
I dont wann stop working....
want to work in software field upto 50..(oops seem quite long)
after that want to do something else ..dont know what..
Peter Rooke
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Joined: Oct 21, 2004
Posts: 805

All of them


Regards Pete
Stan James
(instanceof Sidekick)
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Joined: Jan 29, 2003
Posts: 8791
My insurance agent recently showed me a paper that said if you start saving some percent of what you make at 20 you can retire at 40. If you start at 30 you can retire at 65. If you start at 40, you're going to retire hungry. I got lucky with a good pension and investment program ... haven't saved a high percentage but steady since 20 something. I can retire at 60 and have about the same income, at 65 with a raise for quitting.

So don't just work hard, save until it really hurts. And day trading and playing with the market don't count.


A good question is never answered. It is not a bolt to be tightened into place but a seed to be planted and to bear more seed toward the hope of greening the landscape of the idea. John Ciardi
Svend Rost
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Joined: Oct 23, 2002
Posts: 904
I plan to work till I am somewhere between 60-70 (currently 26). I hope I am lucky enough to decide when I feel that I have worked enough and want to spend my time doing other things than work.

/Svend Rost
Greg Charles
Sheriff

Joined: Oct 01, 2001
Posts: 2861
    
  11

OK, I just turned 40, so I'm not happy about the idea that my "prime time" is already gone. I think if I worked straight from now until 45, lived frugally, saved money, didn't go for luxuries like a wife and children, I could retire.

I'm also thinking of a sabattical from software as an alternative. My current idea is going to Viet Nam and teaching English. Anyone with me?

P.S. There's just no way life expectancy is 55 - 60, even in India. Also, keep in mind that those numbers are skewed low because of infant and child mortality. The numbers given you have survived into adulthood look much better.
Rohit Nath
Ranch Hand

Joined: Jun 16, 2006
Posts: 387
Originally posted by Fred Rosenberger:
According to the Wikipedia:

Average Life Expectancy = 67



Please count those extra 7 years as Bonus!
Rohit Nath
Ranch Hand

Joined: Jun 16, 2006
Posts: 387
Originally posted by Greg Charles:

P.S. There's just no way life expectancy is 55 - 60, even in India.


Life Expectancy in India = 62.5
Some countries have it as low as 37.6! Check link below.
World Life Expectancy Chart


Originally posted by Greg Charles:

I'm also thinking of a sabattical from software as an alternative. My current idea is going to Viet Nam and teaching English. Anyone with me?


Ya! If you are booking my tickets!

Thanks!
Maurizio Nagni
Ranch Hand

Joined: May 29, 2004
Posts: 75
work is a great thing... expecially if you enjoy.... and expecially if you can have NORMAL working time and as consequence free time afer 18 and weekend to go around, play with children or have some hobbies....

Get some life!.... but with a NORMAL working time job is better
Svend Rost
Ranch Hand

Joined: Oct 23, 2002
Posts: 904
Originally posted by Rohit Nath:

Life Expectancy in India = 62.5


Does that include infant deaths? furthermore, is there a difference between the life expectancy for a person that does psyically hard work (which, I assume, there is alot of in India) and one that works in an office?

Both are rhetorical questions.
Rohit Nath
Ranch Hand

Joined: Jun 16, 2006
Posts: 387
furthermore, is there a difference between the life expectancy for a person that does psyically hard work (which, I assume, there is alot of in India) and one that works in an office?


In that case I guess guy working in an office would have shorter life span! (Pun intended)
john wesley
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Joined: Feb 14, 2005
Posts: 47
I am 28 and I would like to be fit and work till the last day (with my weekends ofcourse) and then just switch off like a bulb. At this point I just wonder what else is there to life if it were not for work?
search for �true meaning of life�, which you probably will never find !


"Let the one among you who has never sinned throw the first stone.." -A Hero
marc weber
Sheriff

Joined: Aug 31, 2004
Posts: 11343

Originally posted by Svend Rost:
Does that include infant deaths? furthermore, is there a difference between the life expectancy for a person that does psyically hard work (which, I assume, there is alot of in India) and one that works in an office?

Both are rhetorical questions.

There's no place like Meaningless Drivel for responding to rhetorical questions.

There's a difference between life expectancy at birth and life expectancy at any other age. For example, life expectancy at birth might be 65, and this average takes into account high-risk periods (like infancy). But life expectancy for a person who's 50 might be 72 or so. (I'm just pulling these numbers out of the air.) In other words, simply being 50 means that you've survived early death situations that lower the overall average.

Taking additional risk factors into account (occupation, lifestyle, etc.) can provide a better estimate -- either shifting the expectancy higher (into a "preferred" underwriting category) or lower (a "rating" category).


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william gates
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Joined: Feb 21, 2007
Posts: 112
I rarely believe what certain stats say.

Somebody posted that saving from 20 years old will mean you can retire at 40 years old, yet saving at 30 will mean retiring at 65.

For most people, they don't graduate college until they are 22 or 23. Which means unless they have rich parents or relatives, they had no extra money to go out to a nice dinner, yet alone money to save for retirement. They don't start making good money until a few years, maybe longer, and if they have student loans, that cuts into savings. And for many, the first time on their own becomes more expensive then they ever realized.

I think that's a biased estimate because while I saved money in my twenties, had a 401K and all, it was nothing I could retire on, not even close. As the years passed, my 401K was not exactly a sound investment. And back then it wasn't easy to change optins, change what you invested in and the company my employer went through had a limited amount of investments you could invest in anyway.

So after about 4 years, my 401K was worth around 38K. Sounds nice, except for the fact I put in 10 percent of my salary every year and my company kicked in 2 percent which adds up to me investing over $40K of my own money plus whatever my company added. So in all honesty, my 401K was a net loss for me. Yeah maybe I should have paid attention to it more back then, but it was a pain just to find out anything because there was no internet site for this company. No local contact. It was a pain to change investments and there weren't that many investments to choose from. It was who my company went through and I didn't know anything about 401K's back then. So much for retirement.

As i got older, i started my own family, my parents got older, life seems to add more bills as you get older. It's nice to think you can retire early, but one of the biggest things people forget is as you age, you need more medical attention, even if it's basic checkups. Without healthcare or insurance or if you get a bad injury, suddenly half your retirment money is long gone. And that's if your healthy.

So somebody working 100+ hours a week for 20+ years probably isn't the most healthy person by the time they retire.

Hey if you worked for a google or some other company that made half their workforce millionaires, yeah retiring at 40 is probably easy.

But retiring at 40 and thinking you can travel and do all these other without having any income ever coming in again is not a wise decision.

If you worked from around 22-40 and then retire. YOu gotta remember you have no income coming in for the next 20+ years. Maybe your investments will do well, but there is no gurantee they will. If you spend all your time making sure your investments do well, that means you have another full time job just to keep up, learn, and so on. You can't always trust your investment advisors or brokers. So I guess it defeats the purpose of early retirement.
marc weber
Sheriff

Joined: Aug 31, 2004
Posts: 11343

I've worked in the financial services industry for about 12 years... People love to delude themselves with unrealistic expectations about investments -- especially when managing their own funds. It's a lot like horse racing. Everyone likes to think they know something that makes their bet "smarter" than all the others. In the end, some people get lucky. Most don't.

Stan offers good advice. The key is in saving as much as you can as early as you can. As for day trading and playing with the market... What horse do you like in the fifth?

Be smart. Have fun. And good luck.
v ray
Ranch Hand

Joined: Mar 15, 2007
Posts: 223
Well, my plan is to own a few business setups, and most of the management of those would be delegated, and I�m pretty good and managing such kind of situations...
I�m not going to wait till 40 or whenever though for such things, the sooner the better, financial independence is great, and whatever steps I can take towards that, I will...
I'm also working towards owning real estate properties and apartments in key areas of my city so that I earn rent, etc off them.
Another thing is, shit do we really need to wait till later to start doing the things we love? I hate to even think like that.
 
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