At What Point Do You Have Enough?

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CAP
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Post by CAP »

At what point do you have enough?

For me that question was answered when I quit work. I ran the figures a couple of years before I physically left. I was/am debt free, paid off house. Have enough money to enjoy life, travel, hobbies, & our pets of course. I never worry much about having enough money to reach the older ages of 90 or 100. I enjoy living in the present, the future will take care of itself or not as far as I am concerned.
Valuethinker
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Post by Valuethinker »

conundrum wrote:Torg and nisiprius

I also fondly remember the Travis McGee series of books by John D. MacDonald. Who would have thought we would look back and consider Travis to be such a philosopher? Shoot, he'd probably be a Boglehead. Maybe he's logged on right now......

Drum :wink:
http://www.fantasticfiction.co.uk/m/john-d-macdonald/

Not to be confused with Ross Macdonald, who was, to some extent, Raymond Chandler's successor as a depictor of the private eye on the West Coast (and, also, a fine author).

http://www.fantasticfiction.co.uk/m/ross-macdonald/

http://www.amazon.co.uk/Black-Money-Cri ... 0752851780
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KarlJ
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Post by KarlJ »

In John D. MacDonald's wonderful mystery novels, his fictional investigator Travis McGee talks about taking his retirement in chunks. That is, after every successful case he knocks off for a while.
Before I had my first job I used to fantasize about working for a few years, then taking a few years off before retuning to work and repeating the pattern.

Has anyone actually done this?
sullivanke
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Post by sullivanke »

Work a few years, then break....... Yes, I have thought of this. Looking into now a sabbatical to make this a reality and getting paid at the same time to do it. As a High School Science teacher, tenured, with vested pension, they would pay me 1/2 pay to take a trip to say Costa Rica to "enrich" my experiences in Say Coastal Ecology or Tropical Rainforests, or sustainability to be able to come back, Job guaranteed, and translate this into classroom objectives. Ahhh, the wonderful world of hte public sector.
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KarlJ
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Post by KarlJ »

sullivanke wrote:Work a few years, then break....... Yes, I have thought of this. Looking into now a sabbatical to make this a reality and getting paid at the same time to do it. As a High School Science teacher, tenured, with vested pension, they would pay me 1/2 pay to take a trip to say Costa Rica to "enrich" my experiences in Say Coastal Ecology or Tropical Rainforests, or sustainability to be able to come back, Job guaranteed, and translate this into classroom objectives. Ahhh, the wonderful world of hte public sector.
Sounds like a sweet deal
james22
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Post by james22 »

Given a future which may offer things at a cost that may be significantly more valuable to me than anything to date, I don't know if I'll ever have enough.

Can live without the mansion, yacht, etc., but can't live without life extending biotech. Once money can buy intelligence and athleticism, I'll want to be GenRich.
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NightOwl
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Post by NightOwl »

Gekko wrote:"Your number may be as little as $100,000 or as much as $15 million.
- Lee Eisenberg - "The Number"
Some people have numbers way higher than $15 million. There are people who make $15 million in one year and yet continue to work. For those people, either that much money is not enough or else work provides them with non-monetary rewards.

Tiger Woods has $1 billion, yet he was (apparently) sweating what his sponsors would do in the wake of his drama. I'm not sure why. Goes to show you that (for whatever reason) a billion dollars is not Enough for him.

I've learned two things from this thread: (1) my number is lower than the numbers of many posters here; (2) I like my job more than many posters here like theirs. I'm grateful for both of those things.

NightOwl
"Volatility provokes the constant dread that some investors know more than we do, making us fearful of ignoring such powerful price movements." | Peter Bernstein, "The 60/40 Solution."
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Random Musings
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Post by Random Musings »

CAP wrote:
At what point do you have enough?
When threads get to fifty pages. If you can't dot all the i's and cross all the t's by then......

RM
mptfan
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Post by mptfan »

NightOwl wrote: Tiger Woods has $1 billion, yet he was (apparently) sweating what his sponsors would do in the wake of his drama. I'm not sure why. Goes to show you that (for whatever reason) a billion dollars is not Enough for him.
I'm not sure why you conclude that Tiger Woods has $1 billion. I have heard that he has earned 1 billion over the course of his career, but that is a very different thing than having 1 billion. Naturally, he had to pay taxes, agents, lawyers, publicists, caddies, and a wide variety of other very substantial expenses to maintain his lifestyle. Needless to say, that would leave him with substantially less than 1 billion.
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NightOwl
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Post by NightOwl »

I'm not sure why you conclude that Tiger Woods has $1 billion. I have heard that he has earned 1 billion over the course of his career, but that is a very different thing than having 1 billion. Naturally, he had to pay taxes, agents, lawyers, publicists, caddies, and a wide variety of other very substantial expenses to maintain his lifestyle. Needless to say, that would leave him with substantially less than 1 billion.
Fair enough. I stand corrected. Tiger Woods has a few hundred million dollars, yet...

NightOwl
"Volatility provokes the constant dread that some investors know more than we do, making us fearful of ignoring such powerful price movements." | Peter Bernstein, "The 60/40 Solution."
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theac
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Post by theac »

wjwhitney wrote:Informal survey: In reading a large number of Bogleheads postings I've seen a recurring sentiment: "I retired and couldn't be happier" or words to that effect. I have not seen one that said "I retired and now I'm really worried about outliving my money".

My current situation: my wife and I can live comfortably (including health care) on a 3% withdrawal rate. I guess I will work one more year for an additional "cushion". I'm starting to worry that the "one more year" mentality will continue and rob me of retirement years.
I almost decided to work "one more year" since I actually enjoyed my job, and would save up a lot more cash in that "final year."

But I wrote out a short paragraph to myself listing my Roth and tIRA balances, what my pension amount would be monthly, and what cash I had on hand. Also noting I might even get a bonus at age 62--social security. So I decided to pull the plug, even amongst my misgivings. I'M SO GLAD I DIDN'T GO FOR THAT "ONE MORE YEAR" :D
"We keep you alive to serve this ship. Row well...and live." Ben Hur...and The Taxman! hahaha
eggs
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Re: At What Point Do You Have Enough?

Post by eggs »

richard wrote: At the end of the day that's probably the best answer. Move to a civilized country and not have to worry about healthcare.
Mods, if this isn't a politically charged statement, I'm not sure what is.

/two-cents
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wshang
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Re: At What Point Do You Have Enough?

Post by wshang »

eggs wrote:
richard wrote: At the end of the day that's probably the best answer. Move to a civilized country and not have to worry about healthcare.
Mods, if this isn't a politically charged statement, I'm not sure what is.

/two-cents
I write this in jest, lest get this thread locked:
"Make your money in a capitalist country, retire to a socialist country."
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VictoriaF
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Re: At What Point Do You Have Enough?

Post by VictoriaF »

eggs wrote:
richard wrote: At the end of the day that's probably the best answer. Move to a civilized country and not have to worry about healthcare.
Mods, if this isn't a politically charged statement, I'm not sure what is.

/two-cents
I do not see it as a political statement. It is an acknowledgment that health care is much cheaper abroad and frustration with having to take it into account when making major decisions.

Victoria
WINNER of the 2015 Boglehead Contest. | Every joke has a bit of a joke. ... The rest is the truth. (Marat F)
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VictoriaF
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Re: At What Point Do You Have Enough?

Post by VictoriaF »

wshang wrote: I write this in jest, lest get this thread locked:

"Make your money in a capitalist country, retire to a socialist country."
Would not that be unfair to the OP?

Victoria
WINNER of the 2015 Boglehead Contest. | Every joke has a bit of a joke. ... The rest is the truth. (Marat F)
MWCA
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Re: At What Point Do You Have Enough?

Post by MWCA »

wshang wrote:
eggs wrote:
richard wrote: At the end of the day that's probably the best answer. Move to a civilized country and not have to worry about healthcare.
Mods, if this isn't a politically charged statement, I'm not sure what is.

/two-cents
I write this in jest, lest get this thread locked:
"Make your money in a capitalist country, retire to a socialist country."
Get a job in California and retire to Midwest United States. About the same thing. Oh wait vice versa... ;)
We are all worms. But I believe that I am a glow-worm.
snowman9000
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Post by snowman9000 »

Random Musings wrote:CAP wrote:
At what point do you have enough?
When threads get to fifty pages. If you can't dot all the i's and cross all the t's by then......

RM
That's because people keep joining in and asking questions that have been answered earlier in the thread. [Andy Rooney mode on] I wonder whatever happened to Allen Mickers? Did he get his question answered? :)
Last edited by snowman9000 on Tue Mar 09, 2010 8:12 am, edited 1 time in total.
james22
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Post by james22 »

james22 wrote:Given a future which may offer things at a cost that may be significantly more valuable to me than anything to date, I don't know if I'll ever have enough.

Can live without the mansion, yacht, etc., but can't live without life extending biotech. Once money can buy intelligence and athleticism, I'll want to be GenRich.
Does no one else think this way?

I don't envy the dull, weak/slow, older guy once he's away from his Ferrari, but I'll be envious when he's brighter, strong/fast, and (relatively) younger.
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HomerJ
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Post by HomerJ »

james22 wrote:
james22 wrote:Given a future which may offer things at a cost that may be significantly more valuable to me than anything to date, I don't know if I'll ever have enough.

Can live without the mansion, yacht, etc., but can't live without life extending biotech. Once money can buy intelligence and athleticism, I'll want to be GenRich.
Does no one else think this way?

I don't envy the dull, weak/slow, older guy once he's away from his Ferrari, but I'll be envious when he's brighter, strong/fast, and (relatively) younger.
I agree with you... I think there will be some amazing medical breakthroughs in the next 50 years, and only the rich will have access to them at first...

I really think I JUST missed the Golden Age of medicine... I really think my son (currently 7) will live to be 120, and be healthy the entire time...

I, on the other hand, will probably die of a heart-attack at 63, 2 weeks after I retire, and 6 months before they perfect growing new hearts from people's skin cells.
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VictoriaF
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Post by VictoriaF »

rrosenkoetter wrote:I think there will be some amazing medical breakthroughs in the next 50 years, and only the rich will have access to them at first...

I really think I JUST missed the Golden Age of medicine... I really think my son (currently 7) will live to be 120, and be healthy the entire time...

I, on the other hand, will probably die of a heart-attack at 63, 2 weeks after I retire, and 6 months before they perfect growing new hearts from people's skin cells.
This is my concern, too. I read about some research by Aubrey de Grey, and I would like to take advantage of whatever he comes up with. And any custom treatment is bound to be costly.

Even today, some genetic tests are available that could determine one's susceptibility to various diseases. It won't be long until treatments will become focused on one's unique genetic makeup. These treatments will not be scalable in the sense of the same aspirin tablet offered to everybody.

And so there is a trade-off. Work for a long time to acquire resources to afford these potential advanced treatments in the mean time losing health to sedentary occupations and workplace stress. Or quit early, improve lifestyle, but be out-priced from advanced means of improving health and prolonging productive lucid lifespan.

Victoria
WINNER of the 2015 Boglehead Contest. | Every joke has a bit of a joke. ... The rest is the truth. (Marat F)
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