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Sunday, July 16, 2017

Are you gonna live forever?



Financial advisers drive me nuts. They know the cost of everything but the value of nothing.

I was just reading a post on a sailing forum. The guy is 59 and seriously looking at retirement at 62. He definitely does not want to work longer. He wants to live on a boat. The guy makes that clear from the beginning.

The financial advisers on the forum all want the guy to work longer. Now the advice of maybe getting a smaller, simpler, and easier to maintain boat makes sense. Telling a guy he can't live his dream until he's ancient does not. How often have we heard the tales of people who work hard their entire life and then die right after they retire?

There was one retired man who started a sailing blog. He looked in great shape. His dream was to sail his own boat down to Key West. The guy traveled down the east coast. He and his beautiful wife then crossed the state on the canal. He got as far as Ft. Myers, where he suddenly had a massive heart attack and died. His wife made the last post on the blog. Dang.

It's those tales that push me to follow my dreams. You never know your allotted days. Sure, financial advisers can figure out the average life spans, but they can't predict what an individual life will look like. The guy who wants to go sailing also made it clear that his family is not, in general, particularly long lived.

So what are the options? You could keep working and die with money in the bank. Then again, hospitals and retirement homes would probably get it all anyway. Let's say the guy goes sailing and runs through all his money. At the end of his life, when he can't sail anymore, he's reduced to living in poverty. So what? He kids don't get a nice inheritance. That's their problem. At least the old guy has some great stories to tell.

-Sixbears

18 comments:

  1. I also agree with it.
    Do it now while you do have the money and your health.
    To hell with what everyone else is saying, it isn't their life to live.
    This ain't a practice run, you only get one shot at it.

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    Replies
    1. I think I'm going to steal your last line. I like it.

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  2. Live now while you can. You can't take it with you. And you're the one who earned it, not your kids.

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    1. My kids know there won't be much left for them, but they are doing quite well on their own.

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  3. I also totally agree. My grandfather died at work when he was 62 of a massive heart attack. My father at 61. I decided to retire three years ago at 60. Even though I thought that I was in good shape I had a heart attack a few months ago the day before I turned 63. Just what I always wanted, a stent for my birthday. Doing okay now, but who knows how many more years I have. Another thing that I did against all the financial advisers' wisdom is to take social security at 62. They all tell you to wait until your full retirement age or later. To hell with that. I calculated that it would take me thirteen years to make back the difference of the cash that I get between now and my full retirement age with the extra that I would get each month by waiting. That would make me 80 years old. Not good odds of me making it that far...........

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    1. Glad you are still with us. Happy birthday, you get to live.

      My dad retired in his mid 50s and lived to 80. Was still enjoying life until the end.

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  4. I also agree. I am retired and can tell you that getting out of the rat race is a great feeling. If you want to live on a boat do it now! If you want the RV lifestyle do it now! All the details you may be worried about will fall into place.

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    Replies
    1. The only winners in the rat race are the rats.

      Follow your dreams because you can't predict the future.

      Delete
  5. I retire mid-50s with a golden handshake of sorts because of lay-offs. I knew it was time to go because I was having trouble 'playing nice'. Started my SSA at 62, nice raise in income. I turn 65 in two weeks; I have no regrets about retiring early. Live within your means and retiring early is not a problem.

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    Replies
    1. In my nightmares I'm back at work -and I liked my work.

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  6. Right on, Sixbears. Before I retired in February, my financial advisor heaved a great sigh every time I cashed in for some of MY money. Now I've told him that this is the time we've been saving for and I'm spending it. Just had to get a new roof and other repairs, and he didn't even blink when I cashed in. And if I decide to take another 30 day cruise this year, I'll just do it. Anything left for the kids is just a bonus for them. Carpe diem.

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    Replies
    1. It's your money, right? You can do what you want with it. It is fun to make the "experts" cringe.

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    2. Hermit's Baby Sis,
      The reason your adviser had a great sigh is because he just lost some quarterly income from you!

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