Hooked On A Salary... Can't Retire!

[Jack Peterson]

Everyone has to decide what is right for themselves.  

 

 

Ohhhhhhhh! I guess Bows is doing the Pro's and Cons' Thing right now  :thumbsup:

 

Jack :)

Morning All :morning1:

[Medic Mike]

I know this topic has been addressed... many times... but I need a kick in the butt... so here is my story...

 

It all started with a friendly conversation with a friend in a bar, after a few drinks, he asked "so what gets you up in the morning?"  And i couldn't come up with a  half decent answer other than it is what I do... i go to work... for money... at 54, how pathetic is that?  I have no wife, no kids, but yes, I am married... TO MY JOB!!  I have been a mechanical engineer for the Navy for 31 years... although I take pride in my work, I have always felt that it has never been my calling to me an engineer.  I am in it for the money.  I am struggling with leaving a $100K per year job and retire with a measly pension to start my second life there...

 

This website has been an inspiration to pursue my next life there, but I am still struggling to make that jump...  so again, please do some butt kicking here... mine!!

I also am in the same boat, when the time comes, it is going to be hard to leave my full time job, and onto pension/Super.

[Jack Peterson]

when the time comes, it is going to be hard to leave my full time job,

 

 

That's the easy bit Mike, when the time comes, it is the Money that is the problem and there is never a good time for that. :)

 

Jack :thumbsup:

[chris49]

 

when the time comes, it is going to be hard to leave my full time job,

 

 

That's the easy bit Mike, when the time comes, it is the Money that is the problem and there is never a good time for that. :)

 

Jack :thumbsup:

 

 

 

Most of us manage in a similar range of 50-60, 000 pesos. Plus our savings, superannuation or whatever. A few are above that and a few have Filipina wives working. 

 

It would be nice to have a bit more, but part of the challenge here is living on a fixed income, trying to work out the best way to live, eg renting vs buying, building, maybe a condo and on down the line.

 

But when getting older some of our personal needs should be less, in my case not travelling frequently, maybe not running a car. But take it as a challenge.

 

I came to the Philippines extremely well cashed up and that in itself became a problem. Having less forces you into a different mindset. But then I talk to people in Australia/USA, who face similar problems. Cash income in retirement is less than your earning years and it may take time to adapt. A cash reserve can quickly disappear as in my case. 

 

But most of us face similar and we still manage. Would prefer living here than living elsewhere with more money.

[stevewool]

Many of us fear the unknown , and seem to be happy going along life as we have known for years,

It not until you are pushed into something  else that many of us then realize there is another world and it could be better then what we have been living in for many years,

Being pushed then you have no choice its much easier then making your own mind up,

Bows Get them to sack you :hohoho_smiley:

[virginprune]

If you are unable to make up your mind, that should tell you something about you. If people have a fixed plan and work towards that, that in itself is a good thing. However, the terminally undecided will never be helped by a push, as it were, all they will do is go into panic mode. So for people who are " making their minds up " you need to look deeply into yourself. Have you got a plan or are you making excuses to yourself not to take the plunge. Because if it's the latter I suggest you don't bother and keep it as the fantasy that it really is.

Just my tuppence!

[Tukaram (Tim)]

... Just my tuppence!

 

 

I agree. When my kids moved out for college, I realized I could quit working... if I lived in the Philippines. While I was deciding if it is what I wanted to do... I seemed to have sold my house and quit my job... there was no keeping me from it.  Basically there was no decision to make.  I just knew it was time.  So when people say they cannot decide, it feels to me that that is a decision to wait.  Nothing wrong with that, but every action, and non-action, is a decision.  :tiphat:

[davewe]

Many of us fear the unknown , and seem to be happy going along life as we have known for years,

It not until you are pushed into something  else that many of us then realize there is another world and it could be better then what we have been living in for many years,

Being pushed then you have no choice its much easier then making your own mind up,

Bows Get them to sack you :hohoho_smiley:

Or to quote DeNiro, "Whenever there is doubt, there is no doubt."

 

I have these sorts of conversations all the time because none of my peers are preparing for retirement. They may be a few years younger than me, but not that much. I know a lot of friends who do say they will retire when they lose their jobs but I don't think that's the best of strategies. I would rather go out when I decide.

[bows00]

Thank you all for your responses.  The various inputs have forced me into some soul searching.  Bottom line here is the question of "what makes you happy?".  Life in general can become so routine - like a rat running on a wheel... and like my all time favorite movie, Shawshank Redemption, we become "institutionalized"...  even long time prisoners won't want to leave the comforts of they are familiar.

 

I reviewed my financial numbers.  I re-evaluated my life expectancy.  And my next step is to spend all my available vacation time in the Philippines to reassure myself that I will be happy there.  As of now, I am sure I will love it there.