A friend and I were having a few beers and we started talking about "back home" stuff. We are in pretty similar situations... late 40s,no kids, no debt,20+ yrs in our jobs here in the city. We both talk about quitting and moving back to our respective home areas to live out life. I would be lucky to make 1/2 of my current wages(70k) but feel I could make it. I think he really has the gahunas to do it. My biggest problem would be telling my Depression Era born parents that know what tough times really are,that I am giving up a sure thing(30yr retirement,benefits etc.) They would get over it but would think I am cracked. I am just wondering how many of you found yourselves in type of situation and what you did...Move back to the "simple life" or stay in the" rat race".. Or if anyone does it like me drive the 700 mile rnd trip evey other weekend to try and live both
Time to move back home?
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1982vett
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Nothing like the "simple life" as long as you can afford it.
Angus Cowman
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how long before you can lock in your retirement if you have already put in 20+ yrs and your retirement locks in at 30 I think I would try and stay put til the 30, this coming from a guy who has never had benefits or a retirement because I have been the employer more than an employee
I had a friend who worked had a good job and decided to quit and go into business for himself he wishes now he would of stayed 7 more yrs so that his retiremnet would have been locked in especially since the economy has tanked and he is having to use the money he has made and put back for retirement to keep his business running
I had a friend who worked had a good job and decided to quit and go into business for himself he wishes now he would of stayed 7 more yrs so that his retiremnet would have been locked in especially since the economy has tanked and he is having to use the money he has made and put back for retirement to keep his business running
Angus, I am already locked in on 20 yrs worth,enuff to generate 26k/yr @59.5 in todays dollars between 401k and pension or actually I think I could even tap it now for about 11k/yr thru something called a SEPP...I don,t really understand that. So really I just need to make a living for13 yrs, preferably without tapping my retirement money. I would just get more if I stay till 30 yrs.
john250
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baldy":3qjknvd1 said:
Contact an extension agent for some financial worksheets.
What crops would you raise?
Clearing a NET 35,000 means you will be pretty busy.
Good luck to you.
Angus Cowman
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if you can get a job back home to where you wouldn't have to touch your retirement would be best and could adjust your lifestyle to live on that income alonebaldy":1ju8d1r1 said:
main thing is not to overload yourself with debt and learn to live with less
good luck
baldy":3b95ti9m said:
In my case the drive was never even feasible - I lived 1600 miles away from my folks, and I was lucky to see them once a year - nor did I make 70K per year. Now, having said that, I traded in city life/rat race for the simpler things in life May 10, 2002. I now work my ass off laying pipe/irrigating/bucking hay bales/dealing with other people's horses, and I haven't been as happy as I am now in quite a number of years. Added bonus - I have been able to reconnect with the folks in a whole new way.
Ryder
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Seems like every other weekend is spent just driving. Makes me want to throw up just thinking about it.baldy":20zq79g2 said:
How do you handle that?
What part of the world are you in? Montana with little traffic and no speed limit?
Jim62
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Stick with the "sure thing" until they start sending you the check. And, don't forget health insurance in your plan--that alone could cost $12,000 per year............or more.
bigbull338
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since you have 20yrs locked in.i say quit your job an move home.im sure you can find a job close to home.my dad worked for 14.5 yrs for the same co.he wouldve been vested if he worked 6 more months.but he didnt want to milk twice a day an do his day job for 6 months.so he walked out an quit when the barn was ready to start milking.
Being single with no kids I say do whatever you think will make you happy. Keep the long road in mind too. I'd hate to see you regret your decision 10yrs down the road. Thats not something you can take back. I have dreams too but they'll be on hold till I get the youngens taken care of and on their way. By then my dreams will have changed several times over I'm sure. :nod:
Walt
Walt
GMN
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What makes where you grew up better than where you live now, and from the sound of it, have a good job and a contented life? Do you go back to your hometown frequently? I'd be hesitant to give up what you have now, for a uncetain future in a town where you haven't lived in years. Places and people change over the years, just becasue you have fond memories of the old place doesn't mean that is how it would be now.
GMN
GMN
pdfangus
Well-known member
here is what I would try.
take that extra money over what you would make if you make the change and put it in the bank for a year or two.
does two things.
lets you know if you can get along on less
builds the cash reserves.
take that extra money over what you would make if you make the change and put it in the bank for a year or two.
does two things.
lets you know if you can get along on less
builds the cash reserves.
dieselbeef
Well-known member
it dont stay simple for long tho....
Thanks for all the great replies. To tell the truth I made my decision 5 years ago and so far I have stuck to my plan. First I paid off all my debt by taking every minute of overtime I could. Then I started sockin away cash. One thing that cut hard into my stash was some land that came up for sale...I bought it so I felt I had to stay put a little longer to get that paid for and build up more cash. Then I spent a bit more on imprvments, all piece by piece and with cash. This is a new way of life for me as 10 years ago I would of had to borrow money for anything that cost more than 500 bucks. But for a lot of years I never missed a party or if someone called and said "hey lets go to Vegas next week " I'd say "Why wait till next week,lets go tomorrow" Anyway I got a whole new focus on what is important in life back a few years. (Met a gal from a neighboring town back home) My list of reasons to stay put is pretty short now and my reasons to move back is pretty long. I hope no one confused my use of the words "simple life" with "easy life". I know I will be working harder and longer for way less. I will probably stay for a couple more years but with aging parents,my girlfriend, my dog,horses,most of my toys back there it might not be that long. I look at folks like msscamp with a whole lot of respect and a bit of jealousy but I know my turn is coming. Thanks again
perda04
Well-known member
Dave Ramsey has a lot of good things to say about the money management effort you have made.
Financial Peace
Financial Peace
GMN
Well-known member
perda04":1qsxr30c said:
The only people Dave Ramseys advice does not work for is Dairy farmers, he admits that himself, on his show on XM.
GMN
Ryder
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Please explain.GMN":3qujtnai said:
