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      01-06-2022, 08:18 PM   #23
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Originally Posted by RickFLM4 View Post
Influencer so maybe I’ll be able to understand the concept
Let me know if you figure this out... with the amount of money they make I could probably retire this year.
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      01-06-2022, 08:54 PM   #24
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I wanna mow lawns when I retire. Heck, I would do that now but it won't pay the bills
"And ‘cause I was a gazillionaire, and I liked doing it so much, I cut that grass for free."

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      01-06-2022, 09:34 PM   #25
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      01-07-2022, 04:37 AM   #26
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How old were you guys when you retired or how old will you be?

For me it will be 60, which is 15 years away which seems like an eternity !
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      01-07-2022, 04:45 AM   #27
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      01-07-2022, 06:22 AM   #28
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Originally Posted by mecheng77 View Post
How old were you guys when you retired or how old will you be?

For me it will be 60, which is 15 years away which seems like an eternity !
I'm hoping for somewhere between 50-55, but it's a sliding scale. We have a child on the way so I'm thinking that'll create an extra few years of work so I may slip into the 55-60 range. At minimum that gives me 15 more years, and at most I'm looking at 20, so I feel you on the eternity thing.
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      01-07-2022, 06:30 AM   #29
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      01-07-2022, 06:35 AM   #30
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      01-07-2022, 07:43 AM   #31
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Quote:
Originally Posted by mecheng77 View Post
How old were you guys when you retired or how old will you be?

For me it will be 60, which is 15 years away which seems like an eternity !
62, same as my Dad and older sister.
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      01-07-2022, 08:45 AM   #32
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Quote:
Originally Posted by mecheng77 View Post
How old were you guys when you retired or how old will you be?

For me it will be 60, which is 15 years away which seems like an eternity !
Can I pick "today" as my answer?

Realistically I'll probably work another 15 years. I'm 48 now. The challenge I'm starting to face is that i currently work at a small company and have been there for 10 years. I'm a Sr. VP so not much upper movement left. Compensation is pretty much leveled out. We barely made it out of the pandemic and are still treading water. it's feeling like I maybe should jump ship to a larger, well established, company that can be my "forever home" until retirement. My nightmare scenario is to be a 55 year old guy who has worked at the same small company for nearly 20 years and I suddenly find myself laid off and looking for a job.

I think a big part of retirement planning that no one really talks about is what your plan is for your last decade working. That 50ish to 60ish age range where it's tough to land a new job.
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      01-07-2022, 09:11 AM   #33
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My nightmare scenario is to be a 55 year old guy who has worked at the same small company for nearly 20 years and I suddenly find myself laid off and looking for a job.

I think a big part of retirement planning that no one really talks about is what your plan is for your last decade working. That 50ish to 60ish age range where it's tough to land a new job.
What would the severance pay look like?

And.... is it irresponsible for me to have a scenario where i'm ready to retire, but I coast till they finally lay me off and then pay me over a year's worth of severance?
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      01-07-2022, 09:24 AM   #34
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I cannot make the Turo numbers work, I think you need a lot of help re. tax laws to write things off or it's a fail. There's a lot of hidden costs, especially insurance here.
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      01-07-2022, 09:29 AM   #35
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I'm retired but the odd jobs I considered doing was as a tennis pro in the summer and a ski instructor in the winter. I briefly instructed seniors tennis but the odd job I really enjoyed was crewing on a car race teams. This was stock car racing and I did every level from local tracks to K&N pro series West. I had fun while learning and also there was some travel involved.
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      01-07-2022, 09:31 AM   #36
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Quote:
Originally Posted by wtwo3 View Post
What would the severance pay look like?
Typically 1 week for every year of service. So, not great. I also have a 2% ownership stake in the company but that's worth absolutely nothing if I get laid off because we tank.

Quote:
And.... is it irresponsible for me to have a scenario where i'm ready to retire, but I coast till they finally lay me off and then pay me over a year's worth of severance?
Irresponsible or well played?

My buddy is an engineer at Boeing and they have a guy there in his department who is nearly 80 and refuses to retire. He hates his wife and doesn't want to be at home all day with her so he just comes into work. He's computer illiterate beyond e-mail, has no responsibilities, and basically just sits there. But the company is too afraid to push him out the door because they dont want an age discrimination lawsuit. They keep offering him sweet retirement packages to just go away and he wont take them because he doesnt want to be stuck at home with his wife.
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      01-07-2022, 10:02 AM   #37
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Originally Posted by DETRoadster View Post
My buddy is an engineer at Boeing and they have a guy there in his department who is nearly 80 and refuses to retire. He hates his wife and doesn't want to be at home all day with her so he just comes into work. He's computer illiterate beyond e-mail, has no responsibilities, and basically just sits there. But the company is too afraid to push him out the door because they dont want an age discrimination lawsuit. They keep offering him sweet retirement packages to just go away and he wont take them because he doesnt want to be stuck at home with his wife.
Now that sounds like a sweet setup... minus the hating the wife part. I'd like to not hate my wife when we get old

I honestly think when I KNOW I'm 5 years from retirement... I'll begin coasting (like REALLY coasting, not this pseudo-coasting I do now where I procrastinate and then pull all-nighters in the final days to meet a deadline)
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      01-07-2022, 10:03 AM   #38
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I cannot make the Turo numbers work, I think you need a lot of help re. tax laws to write things off or it's a fail. There's a lot of hidden costs, especially insurance here.
Can't speak for Canada, but I know there's people who are able to run businesses using Turo as the platform with multiple cars. Not sure how successful they are but I've seen a few so it must be doable.
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      01-07-2022, 10:24 AM   #39
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      01-07-2022, 10:26 AM   #40
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      01-07-2022, 10:30 AM   #41
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amusement park ride operator
Think I'd last maybe 1 day on this job.... if I don't quit before the day ends

I'm just imagining tons of annoying people, and the same repetitive thing over and over again, making sure people are buckled in, then starting and stopping.
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      01-07-2022, 10:35 AM   #42
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Quote:
Originally Posted by mecheng77 View Post
How old were you guys when you retired or how old will you be?

For me it will be 60, which is 15 years away which seems like an eternity !
I retired just over 5 years ago on my 55th birthday. I miss the job sometimes but love retirement. I've kept pretty busy doing stuff around the house and maintaining the toys. My wife is going to retire in a few months and hopefully this covid nonsense will be winding down so we can go south for a few months next winter. It goes by fast, I can remember when I had over 10 years left in my career and in the blink of an eye here I am. Time is precious, and as you get older things get harder and time seems to go by faster. Enjoy the journey to retirement and if retirement is what speaks to you go for it as soon as you can. Some folks want to work their whole lives and that's kool too.
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      01-07-2022, 10:35 AM   #43
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Quote:
Originally Posted by wtwo3 View Post
Think I'd last maybe 1 day on this job.... if I don't quit before the day ends

I'm just imagining tons of annoying people, and the same repetitive thing over and over again, making sure people are buckled in, then starting and stopping.
I agree, I would just sit there and be super spaz and be yelling...until I crash. then things will get dark lolol
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      01-07-2022, 10:38 AM   #44
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