Retire FIRE

in LeoFinance2 months ago

Hey Jessenior citizens

After the last year and a bit, I am sure all of us have pondered our own mortality, why we're doing what we do, our plans for the future and what kind of world we will live in. As jobs are obliterated at the rampant rate in the worlds greatest economic recession in recent history, many older people have been forced to retire early or have chosen to retire.

Additionally, the fear of being a high-risk individual has also encouraged older generations to shelter in place and call time on their working career. Both my parents have retired now; they've got a few stocks, bonds, index funds and property that need to hold them over for the rest of their lives.

They did the prudent thing and saved, acquired a few assets through debt instruments and feel they have enough to retire.

Something doesn't add up

I've run the math on their projections, and something they fail to take into account is the exponential growth of inflation which is breaking pension models across the world.

Most corporate and public pensions are grossly underfunded. It's one of the many reasons we have the financial markets we have today as governments try to close the gap on their unfunded liabilities.

Retiring is about scaling down, about living within your means, enjoying the nest egg you worked decades to acquire but to be honest, I think that's just a dream for a few. Something investment managers sell people so they can pocket 2 and 20 managing your money.

I've mentioned this to them several times, but what do I know? Im just a shit head moron who rambles on like a lunatic.

Aside: Hence my blog lol so I can document my lunacy each day and have it time-stamped on a blockchain, and we will see who was right or wrong.

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I want to retire early

I've never enjoyed work; I thought the concept was so stupid, the modern working world of bullshit jobs is such a waste of time, but because money circulates within these elements, it's perceived to have value. I think that's a story for another day, but the bottom line is I don't find value in work.

I think humans inherently know the difference between work and productivity, and we can feel when the work we do isn't real, but we accept it for the sake of a paycheque because, well, we don't want to be poor.

I've always had the goal of retiring early, hence my prudent and my affinity for investing. I realised long ago my shitty ass pay packet wasn't going to get me two turds to rub together in my 60s, so I had to do something about it.

I've taken on as much risk as I am willing to stomach and continue to monitor my portfolio to optimise it as best I can with the additional income I have.

Naturally, my countries current economic state and the debasement rate of our currency isn't helping me much and in a country with the highest Gini coefficient in the world.

I'm playing this game on hard mode for sure.

Fire'd up

I don't see myself having the courage to slave away into my 50s and 60s. I refuse to take the shit sandwich given to us and saying that's how life is; surely there has to be a better way.

If Im going to live the FIRE life, be it the lean fire of FAT fire, it will be a monumental task. This bull run and the next bull runs will make or break my goals, so I hope I don't fuck it up.

My goal right now would be semi-retirement, where I have enough where I don't need to bust my chops every week but have the time to work on the passion projects I really enjoy working on.

I don't see myself as the type to stop working when I retire; I'm not the sit around and laze around. When I mean, retire I don't mean sit on the beach sucking down Piña colada. I mean not having to be beholden to paycheque and working on things I CHOOSE to work on.

That, to me, is the retirement I want.

Have your say

What do you good people of HIVE think?

So have at it, my Jessies! If you don't have something to comment, "I am a Jessie."

Let's connect

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I great reminder for the younger generation and what is ahead of us..A wise man once said have interest in something aside your work before you retire so that when no one is around you do that as entertainment......
Enjoyed avery bit of this post... @chekohler

Yeah I agree man, work to me is when you do it for the salary, but when you do something because you like it it's never work

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I suppose it also matters at what age you retire. If one retires in their mid-60s, there just isn't much to spend on usually other than healthcare.

Exactly my point how is that quality of life? You get to spend a few years with a broken down body and a pittance of a pension lol fuck that I’ll take my chances in crypto

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Yeah, no more pensions around these parts either so old folks gotta collect cardboard boxes to survive. Sad.

Great thinking .... And I totally agree with you .... until retirement you don't care about anything and you don't have the strength ... You give your best to a job that takes all the best from you if you let it ... and if you don't imagine a little over yourself, then work as a machine grinds you ... and you don't even think there is any other solution anymore ...

Exactly, they always say pay yourself first, but people don't understand paying yourself first means paying so that you have time for yourself in the future. Selling your time and skill and labour is great for everyone but it doesn't help if you forced to do it and never have time to enjoy life

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Yes, that's right. You need to save yourself and think of yourself a little more. Because time passes very quickly, imperceptibly and you start when you are already in certain years ... Then you see that you only have a job in your life ....

Time is a scarce commodity and you can’t get it back and not just any time but time that you can use to it’s fullest when you in your prime! That to me is real wealth

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That's right ... When I think about it, I managed to use my best years nicely and worked as much as I needed to go somewhere or buy something ... Now I work almost all day, not every day, but I still try to manage to do what the soul desires😊

And if money is no longer and issue and you have time to do whatever you desire what would it be? Have you started doing it in smaller ways when you have free time?

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What I miss the most is traveling and visiting some places I want to get to know. To paint ... etc. There is a long list .... at the moment I manage to go to the forest and take photos by phone or camera ...
And some cycling .... Nothing special but it keeps my spirit and mind

I don't think its about whats special but what brings you joy and value lol if that's cycling or jumping out of a plane lol as long as you feeling you're getting the most out of your time that's all that matters.

I'm not really a creative, but I enjoy sport, so playing soccer, going hiking those kinds of pursuits id like more of as well as travelling once we're open to travelling again

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yeah, i'd just like to do something i like, ideally for only about 25-30 hours a week, something that makes a difference. not trying to be a 'team leader' for a corporation i don't believe in, i call that 'pawn leadership', they call you a manager or director or such, but you're just a pawn in their game

I feel you man, you want to see the real difference you make, see change, affect change, do something that has tangible real world value

Not stroke each other’s egos as you file paper work and fire off emails! A lot of these jobs are just capital filter systems for the poor distribution of money and these jobs have no value

david graeber called them "bullshit jobs" 👍

thank you very much for the information ,have a great day and good mood

I hope your retirement will be amazing

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Lock and load those sats and build multiple income streams so you can semi retire or even fully retire on them before you get to 40 (or 50).

I don't mind working as long as it's something I want to do, someone once said to me, they work to live not live to work, not the right mindset but sometimes, needs must. Hopefully if things go really well, you can just live and work on something you have the passion for.

Lol I intend on spending my good years doing the shit I want to do not looking back and going oh look at how safe I played it and now I can get 25% off pensioners discounts on Thursdays lol fuck that life

If I’m not able to enjoy my life on my terms why bother playing it “safe”

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Lol I hear you. That's why I travel every few years for months at a time. Got to live a little and enjoy yourself!

chek buddy, check out this thread, i'm only into the first few graphs, they are mind blowing...

LOl they plan B stock to flow model has been pretty accurate so far, I still think if breaks to the upside considering all that's going on right now. It's how I've based my strategy on accumulation, exponential growth is pretty hard to grasp, which is why I feel like I'm buying back years of retirement one day at a time as I daily cost average into Bitcoin

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i feel that ... been hard lately only to push the buy button once daily 😁

LOL that’s why I set auto buy and I just leave it in a higher powers hands than my own

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I think the actual models don't really consider what happens during times of huge economic down turns either. For example, would the same 5% be the same when stocks crashed 50% or when it increased 50%. The market tends to take the stairs up and the elevator down so it doesn't exactly account for things correctly in the stock market.

However I do think the idea of renting houses for cash flow can probably work. But the downside is if housing prices crash so you need far more extra cash flow to account for the horrible situations. So do the models work out? No they don't but they help people save so they will be better off compared to those who don't.

I also want to build a sustainable income stream and be able to do what I want. I think HIVE and crypto has many opportunities that are good. As much as how I do decent in the stock market, I just find it annoying when an alert happens while I am busy. Thus sometimes I lose more than I really want since I don't like stop losses (market makers screw you over).

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I would agree with you there, nor does the models account for the real inflation in my opinion, it's just either algos doing rebalancing or fund managers doing what's best for them. Markets are a funny thing and people think they can strike it rich but if we look at the concentration of wealth you don't need to be a genius to see who is benefitting from the system and its working as intended for those people, so why should I support it?

Im personally not a fan of home rental I think its a huge waste of dead capital building houses just to force people to give you capital for a basic need. If humans had more security they are more productive and if you're renting your life away how productive can you be? I think the housing market is probably one of the biggest wastes of money, they are just shrines to boomers ignorance and is a drain on the overall economy

I wish I live to see the day housing corrects to fundamental value it will be a glorious time. It already is when you measuring it in Bitcoin but yeah lol when the rest realise it ill be pretty stoked

Yeah man trading is a pain, I don't see that being something I want to do or have a job in, it just isn't enjoyable for me. I prefer doing work and just being able to save in the hardest money available so Bitcoin works great for me. Alts sure supplement my income and fun to mess around with but I don't put too much weight on it

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thank you for the information,have a good day and good mood

Cheers to retiring early mate

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