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Author Topic: Mid-life crisis planning  (Read 1361 times)

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Online Nodaclu

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Re: Mid-life crisis planning
« Reply #30 on: May 17, 2014, 02:41:45 PM »
I'm struggling with this very thing right now. I lost my dad last month at just 68 years of age. By the time he retired, he was too sick to enjoy the fruits of his 38 years of (hard) labor.

I'm in good health right now, but I'm mindful of the fact that I'm the only living male left in my family. All but one died before the age of 72, some *much* earlier.

I'm 44 and haven't saved a penny for retirement, but I've finally landed a decent paying job and can start doing something about that in the next few months. I can also plainly see that I can go one of two ways from this point:

1. Save like hell for the next 16 years, and have a decent retirement. But will I be sick and worn down/out at 60 like my dad was? Will I even make it to 60 based on family history?

2. Pull up stakes, travel, work enough to survive, and figure the rest out in my 60's/70's/80's. But how the hell do I live when I get past the age where anyone will hire me to do anything?

Stangely, *both* of them seem irresponsible to me in completely different ways. The first one is potentially irresponsible to myself, the second is irresponsible to society.

My dad was a big reason why I started trying to do it the old fashioned way the past few years. With his passing, those expectations are gone as well, and I'm left to wonder just how much of a gypsy I truly am. ;)
In memory of an amazing man - my father - 8/26/1945 - 4/2/2014. Rest in peace dad.

Online Jim

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Re: Mid-life crisis planning
« Reply #31 on: May 17, 2014, 04:29:22 PM »
Bummer to hear the family life concerns.

IMO - moderation in all aspects of life, and that includes moderation.  Mix the fine line of enjoying life as you live life would be my thought (vs. work hard and only play once retirement hits - if you get to retirement).

From my oddly placed 4-month U.S. trip, the underlying thread that kept coming up by talking with people I'd meet - do it, do it now before you are unable to.

As for me, I hope to not retire. I hope to keep working, with occasional playing, up until the day I can't do either.

Online Max Wedge

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Re: Mid-life crisis planning
« Reply #32 on: May 17, 2014, 07:37:34 PM »
I'm struggling with this very thing right now. I lost my dad last month at just 68 years of age. By the time he retired, he was too sick to enjoy the fruits of his 38 years of (hard) labor.

I'm in good health right now, but I'm mindful of the fact that I'm the only living male left in my family. All but one died before the age of 72, some *much* earlier.

I know how you feel. My dad passed when he was 49, and I was 18. I started thinking about that when I hit my 49th year. My mom just touched retirement, but not by much. Moderation is a great idea, but very hard to achieve.

We could discuss this further over a couple of cervezas in, say, Zipolite?
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Offline RBEmerson

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Re: Mid-life crisis planning
« Reply #33 on: May 17, 2014, 09:33:26 PM »
I'm struggling with this very thing right now. I lost my dad last month at just 68 years of age. By the time he retired, he was too sick to enjoy the fruits of his 38 years of (hard) labor.

I'm in good health right now, but I'm mindful of the fact that I'm the only living male left in my family. All but one died before the age of 72, some *much* earlier.

I'm 44 and haven't saved a penny for retirement, but I've finally landed a decent paying job and can start doing something about that in the next few months. I can also plainly see that I can go one of two ways from this point:

1. Save like hell for the next 16 years, and have a decent retirement. But will I be sick and worn down/out at 60 like my dad was? Will I even make it to 60 based on family history?

2. Pull up stakes, travel, work enough to survive, and figure the rest out in my 60's/70's/80's. But how the hell do I live when I get past the age where anyone will hire me to do anything?

Stangely, *both* of them seem irresponsible to me in completely different ways. The first one is potentially irresponsible to myself, the second is irresponsible to society.

My dad was a big reason why I started trying to do it the old fashioned way the past few years. With his passing, those expectations are gone as well, and I'm left to wonder just how much of a gypsy I truly am. ;)

I'm a year younger than your father. In general I count myself as reasonably healthy, with good numbers for BP, etc. OTOH, I have a chronic nerve issue (trigeminal neuralgia - pain you wouldn't wish on your worst enemy) that's now under control with meds. Five years ago I underwent surgery for the removal of a pituitary adenoma - located behind the eyes; close to brain surgery). Without decent health care insurance, I'd lose all vision to the adenoma as it presses against the optic nerves, and the neuralgia would leave me a total wreck (think of Pavlov's dog being shocked violently for no obvious reason at any time, day or night). NTL, I still think of myself as still basically "invincible " but knowing that at any minute s*** can happen. As when the dermatologist found a minor spot of skin cancer on my back. It's gone; all I have is a small dent in my back and a "come back every six months" order. Plan 2 isn't going to help you a bit.

Plan 1 is really the better option. But don't work and save like hell for your retirement. 16+ years of being up to your neck in s*** so you can retire with an IRA is no way to live. Figure out what lets you do something you care about and which gives you some security on day 1 of year 17. 

From a financial point, starting to build some sort of retirement cushion at age 44 is leaving it a little late. Do your homework and get some reliable advice on how to proceed. The train hasn't left the station altogether, but the last car or two is going by and it's time to get on board while you can.

Finally, there is nothing certain in this life but that life is a terminal condition. There is no guarantee you will live to have a satisfying retirement. There is no guarantee you won't live to have a satisfying retirement. But the odds of having a satisfying retirement aren't very good if you follow plan 2 and leave things in the laps of the gods.
« Last Edit: May 17, 2014, 10:01:42 PM by RBEmerson »
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Online Nodaclu

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Re: Mid-life crisis planning
« Reply #34 on: May 17, 2014, 11:58:52 PM »
Thanks guys....I really appreciate your thoughts, and I'm definitely taking them under advisement. :)

Sorry for derailing your thread a bit Max... ;)
In memory of an amazing man - my father - 8/26/1945 - 4/2/2014. Rest in peace dad.

Online Max Wedge

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Re: Mid-life crisis planning
« Reply #35 on: May 18, 2014, 07:55:39 AM »
Sorry for derailing your thread a bit Max... ;)

It's all good!  :bigok:
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Online Max Wedge

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Re: Mid-life crisis planning
« Reply #36 on: May 22, 2014, 02:00:38 PM »
Update: Selling our home, keeping my job, going riding.

House goes up for sale today. Most of my stuff is gone. Rode to work-still have that.....for now. Not jumping in like Gene and Neda, Mrs. Wedge hasn't totally ('partially' might even be stretching it) warmed up to the idea yet, so I am taking baby steps. Either way, retirement should be sooner, and looking forward to more riding and f***ing around time.
« Last Edit: May 23, 2014, 06:23:03 AM by Max Wedge »
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Offline lightcycle

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Re: Mid-life crisis planning
« Reply #37 on: May 22, 2014, 09:24:06 PM »
Update: Selling our home, keeping my job, going riding.

Copyright infringement!

Online Max Wedge

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Re: Mid-life crisis planning
« Reply #38 on: May 23, 2014, 06:21:14 AM »
Update: Selling our home, keeping my job, going riding.

Copyright infringement!

:lol: Hahaha :lol:

Wow Gene! Your staff of lawyers at the "Gene and Neda's Emporium of Intellectual Property Rights" are like pit-bulls! How did you ever find that on this lil 'ol site? Those guys running around in black suits and sunglasses in front of my house trying to serve papers sure gave Mrs. Wedge a fright.

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Offline RBEmerson

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Re: Mid-life crisis planning
« Reply #39 on: May 23, 2014, 08:10:16 AM »
Update: Selling our home, keeping my job, going riding.

House goes up for sale today. Most of my stuff is gone. Rode to work-still have that.....for now. Not jumping in like Gene and Neda, Mrs. Wedge hasn't totally ('partially' might even be stretching it) warmed up to the idea yet, so I am taking baby steps. Either way, retirement should be sooner, and looking forward to more riding and f***ing around time.

Best of luck with the change.  :)
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Online chornbe

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Re: Mid-life crisis planning
« Reply #40 on: May 23, 2014, 08:18:22 AM »
 :clap: :clap: :clap: :clap: :clap:
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Online Max Wedge

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Re: Mid-life crisis planning
« Reply #41 on: May 23, 2014, 10:41:35 AM »
So I just got back from HR....asking if someone, could be anyone, wanted a 1 year leave of absence, how that would work, say, if that someone wanted to ride their motorcycle to Tierra del Fuego or something like that. The question is going to the board meeting next week-so that if someone did ask, she would know what to say. Totally hypothetical.

Mrs. Wedge and I discussed this over dinner last night-she was on her second glass of wine-and the conversation was...interesting. More to come...

Hey Gene! You still in Ecuador?
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Offline lightcycle

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Re: Mid-life crisis planning
« Reply #42 on: May 25, 2014, 09:53:29 AM »
The blog is very behind  :( and we're not in Ecuador. Are you planning on visiting us soon? If you leave now, you'll probably catch up to us in a few weeks time...  ;D

Online Nodaclu

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Re: Mid-life crisis planning
« Reply #43 on: May 25, 2014, 01:07:49 PM »
So I just got back from HR....asking if someone, could be anyone, wanted a 1 year leave of absence, how that would work, say, if that someone wanted to ride their motorcycle to Tierra del Fuego or something like that. The question is going to the board meeting next week-so that if someone did ask, she would know what to say. Totally hypothetical.

Mrs. Wedge and I discussed this over dinner last night-she was on her second glass of wine-and the conversation was...interesting. More to come...

This is starting to get verrrrry interesting!  :clap: :clap: :clap: :clap: :clap:
In memory of an amazing man - my father - 8/26/1945 - 4/2/2014. Rest in peace dad.

Online Max Wedge

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Re: Mid-life crisis planning
« Reply #44 on: May 28, 2014, 11:19:58 AM »
  So....we signed the papers to list our house, got all the pictures taken, ready to go. We decided to have a celebratory steak dinner, and not mess up the house. Mrs. Wedge was on her second glass of wine when I decided to broach the subject, seeing as she was concerned if our house sold, and new one wasn't found. I said there is another option....and laid out my plans. She said, "What would you do if I said yes? You'd never quit your job." I reminded her I never said I would quit, just take a leave of absence. She hesitated. "Leave of absence is for child-birth and things like that." "Not true. There is nothing set in stone." "That amount of money wouldn't get us very far."

  This is where I made my fatal mistake. "It will if we camp and stay in hostels and..."  Hostels. I know she has never seen or heard about the movie by the same name, so I wasn't concerned, but none the less, she physically recoiled at the word. "I'm not leaving the country."

  Then it got worse. "You can go if you want to, just leave your wedding ring at home." This can be taken to mean a lot of things. In that short span I considered them all. "And tell me which one of your kids you want to have it when we recover your body." Ah. Okay. Now I know where this is coming from.

  She can be adventurous at times, and it surprises me when she decides to jump in. She doesn't do it as much anymore, and this was a big one. She might change her mind. I don't know. Either way, I am still heading on with the plan to downsize the house and things, seeing what will happen when the house sells and what I hear from HR. If it doesn't go that way, I can still plan to do a Jon Downs style trip, which might be the best compromise, and maybe achieve that sense of balance.

 Hey Gene-if you check here-was Neda always on-board with this idea? Were you? When did you both sync up on the plan?
You never see a motorcycle parked outside a psychiatrists' office.