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Old 02-23-2016, 07:49 PM   #21
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Yes, kinda.

I was planning on retiring last December. I was in the market for a boat for the last two years leading up to retirement. But I decided that I wasn't going to be able to get the boat that I wanted for the price I was willing to pay.

So I increased the budget. Got the boat that checked all the boxes.

Another year's cash bonus and ten year stock option grant will cover the increase. So I told my boss that I was going to retire last year, but in these exact words, I said "I am now going to be a mercenary for the next twelve months. The only reason I am going to keep working in 2016 is to allow me to buy the boat I want. But as of December 31 2016, I am out of here."

So yep, I am working for the boat, but not on an ongoing basis - its more a one-off deal!
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Old 02-23-2016, 08:22 PM   #22
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So yep, I am working for the boat, but not on an ongoing basis - its more a one-off deal!
It's a lot easier when you know the target as you do and it's reasonably close.

Honestly, we say we're retired, but what percent retired. I don't feel like I work. I don't work for anyone else. But I do read a lot of emails and respond and even remotely I sit in on staff meetings sometimes and when we're home, we'll both actually go into the office two or three days.

I think retirement is poorly defined. It says "ceasing to do work". I think it's more a state of mind and it's doing what you want to do. I intended to do no work, but I do some and enjoy the amount I do. We honestly think of our business as a hobby, not a job.
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Old 02-23-2016, 08:26 PM   #23
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I'm still working but at a great job where i love what im doing and I feel very appreciated. I get a lot of time off (about 8 weeks) and very flexible work hours and spend most of that on the boat cruising the east coast. Off season i spend more time on the boat making it just the way i like which i love to do. I dont have enough for my satisfaction to retire yet, but our boat is paid for and when the time comes in about 8 years we'll be able to do pretty much everything we want and cruise our boat anywhere.

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Old 02-23-2016, 08:34 PM   #24
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No, I paid cash for both boats. I retired 16 years ago. I do have a hobby business to keep me occupied in the winter, but I am ending that in two months.
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Old 02-23-2016, 08:38 PM   #25
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I'm still working but at a great job where i love what im doing and I feel very appreciated. I get a lot of time off (about 8 weeks) and very flexible work hours and spend most of that on the boat cruising the east coast. Off season i spend more time on the boat making it just the way i like which i love to do. I dont have enough for my satisfaction to retire yet, but our boat is paid for and when the time comes in about 8 years we'll be able to do pretty much everything we want and cruise our boat anywhere.

Ken
I think that's where so many are really suffering, is not having time off while working. In the ideal world as you work many years, you'd get more time off and you'd gradually work toward retirement. We have a CEO who has no financial need to work. She was getting 8 weeks vacation and it's gone up now from there. But we're willing to give her as much time off as she wants. We know the time will come she'll say she's ready to retire, but we also know even then she'll want to advise and consult and keep her hands in the business a bit.

I'd love to see more job sharing and rotational working. I wish we could make the transition better for people.

And I abhor the long hours so many have to work. Actually, they're against our company policy. I'll guarantee we get more productivity from people regularly working 40 hour weeks than one gets from those who have worked 60 hour weeks for a long time and are quite mentally fatigued.
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Old 02-23-2016, 08:56 PM   #26
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I retired and paid cash for the boat and extensive refit.
Wow.

I am an advocate of paying cash for cars (why pay interest in a depreciating asset?) but to be able to pay cash for a 50' yacht AND the refits?

You Sir, must be a man of foresight and discipline.
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Old 02-23-2016, 08:59 PM   #27
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It`s the reverse

I`m not working so I can enjoy my boat. When I was working I didn`t have time to own one, let alone enjoy it.
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Old 02-23-2016, 09:00 PM   #28
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Didn't purchase my boat until after (1) the kids' college expenses ended when they graduated, (2) paid off all debts including house mortgage, and (3) retired.
Good points. 1) My kids are done with college, 2) I am on track to have all my personal debts paid off in under 4 years, 3) won't retire for almost another decade.

Initially it was looking as if I would delay the next boat purchase until after #2. However, since I have decided on #3, I can change boats earlier. I guess that means I am working for the boat.... just don't have it yet.
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Old 02-23-2016, 10:32 PM   #29
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I retired last June. House and cars/motorcycles/boats are all paid off. Bought the Prairie in August and am doing 90%+ of the work myself which is keeping me busy. Hoping to not have to go back to work but economy may dictate a part time job just to keep a comfortable margin. I'm 58.

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Old 02-23-2016, 10:32 PM   #30
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I think that's where so many are really suffering, is not having time off while working...
That's it right there. I love my job, I still feel lucky to have it, I walk through the door every day and feel blessed and honored to be there and I can't imagine leaving yet -- but I do so wish my wife and I had more time. That's what will eventually make me retire I know -- not that I won't still love the job someday, but I'll get to the point where my need for more time away will finally force me to make that decision and leave it behind.

As for the boat though, we are making payments for a little while longer, but no way on earth I'd stay working just for the boat. We do work like dogs though to support our standard of living in general. The boat is just a piece of it. I'm 53 so I could start thinking of retiring sometime soon and we could afford to live okay, but between loving my job and all the comforts an active income brings, retirement isn't entering my mind yet.
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Old 02-24-2016, 12:06 AM   #31
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I retired two years ago. Boat is paid for, and a traditional pension pays for the costs to own and operate it. Thankful every day I am able to swing it.
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Old 02-24-2016, 01:33 AM   #32
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At 66 I am pretty much retired now, still have a few special clients for whom I do some work occasionally. My wife, at 62, still has an active practice she enjoys and is very good at. With our daughter a junior in HS, we have a couple of more years being a bit tied down, but not too much. We bought the boat about 4 years ago, a good bit earlier than we thought, but the right boat presented itself at a price too good to pass up, so we ignored the timing. I planned for the past 20 years or so to be in this position, so our house is paid for (and we live in Seattle in a very popular neighborhood so it appreciates much more than it is worth) and the boat is paid for. While we will necessarily monitor our spending as so many here also do, we will be able to live and cruise as we wish, within reason. So, I worked for the boat, just a lot of years before we actually got the damned thing!
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Old 02-24-2016, 01:50 AM   #33
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Wow! So many success stories!! How happy I am for all those who I join with in retirement. Looking at the age grouping it is obvious that we put in to plan much of what our parents led with. Honest work, bills paid and obligations dealt with.

Retired at 59 and now 77. Came out of the Army in '59' married with our first born, and $125.00 in cash,(How is that for Army pay of $119.00 per month!! A fully loaded 1953 ford station wagon loaded with PX stock, so that you could not read 'ford' on the hubcaps, drove back home here in Alaska from Oklahoma and I haven't looked back.
No debt then or now. Home,cars,boats,all holdings paid.
My wife and I often note that for a couple of high school sweethearts, we did good. Happy to say that we have more coming in that going out. The boat and it's expenses are not an issue. Yes, we could afford a larger boat and it's expenses, but we enjoy having a simple life which includes a simple boat. We drive old cars which are maintained to the best and of those we have five!! Just because we can.
So if you find you can make the break and retire, Do what you can do it now with what you can afford and God bless your retirement years.
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Old 02-24-2016, 02:07 AM   #34
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One thing I'm observing is a lot of people here who had kids late in life, or at least their last one late. I think that definitely impacts retirement and boat buying. You wonder from generation to generation. Today we're seeing people wait until later to marry, although not necessarily waiting to have kids. It's a double edged sword as to when to have children. People wait until they feel more stable and financially able to support them, but then that impacts at the other end as they think about retirement. One isn't going to go cruise the world while they still have children in high school and most aren't going to while they're in college. Plus even after they finish school there is generally some time required to build that nest egg where one wants it for retirement.
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Old 02-24-2016, 02:39 AM   #35
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B-as you note, there are some of us on a second go 'round. In my case, I also have a 37 year old son. When I married the second time, my wife was 42 and had not had any children. We decided to have a child and looked into fertility treatments, but that was an awful lot of money spent for a very uncertain result. So, we adopted our daughter from China. She has been the absolute light of my life since Day One! Believe me, there is no possible combination of our genes that could have done half as well. Her name, in Mandarin, means "Little Elegant" or "Little Beautiful". So, we named the boat after her. She has taken to the boat wholeheartedly. She may know more about boats than some here, surely more than most guys she will meet. She will shock some guy when she pushes him out of the way and backs in a 50 footer perfectly! Single or twin! She fully understands and supports the fact that once she is off to college, we are off cruising. In today's times, you have to get pretty remote to be more than about 24 hours from wherever she is. So we figure wherever she ends up, we can get there from wherever we are just about as quickly as if we were still in Seattle.
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Old 02-24-2016, 07:43 AM   #36
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Question... Are you working for your boat???

Iim 51. I call myself semi-retired. I go to the car lot most days for a couple of hours, but also take a couple of days a week to go to the boat to work on projects (or piddle around) or take a short cruise. Not a totally satisfying setup but it is what it is. Could be worse!

We still have a son in HS for a couple of more years so there is no reason to fully "retire" before then. The plan is to sell (and owner finance) the business to my current managers, but our business is in a slump due to the local oilfield crash so that's all up in the air now. I wish I was fully retired and could cut the cord and take off for wherever in the boat, but I must be patient I realize.

So I'm not really working for the boat, but just working to make the future a little better (possibly), I guess.
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Old 02-24-2016, 07:46 AM   #37
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Short answer no.
Retired early (55) w no debts. (Now 66)
Had a good plan and worked & saved to allow our lifestyle.
I have continued part time consulting mostly for my previous employer developing and instructing project mgmt courses / workshops.
I have to admit the PT earnings helped the decision to upgrade to our current boat a few yrs ago but it was a cash deal.
Also... I'd be consulting PT even if we didn't boat...enjoy seeing others succeed, feedback is positive and the pay is Good...and they are willing to work around my committments & availability... win...win...win
Retirement is good...highly recommend!!!
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Old 02-24-2016, 08:24 AM   #38
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Retired at 61, I will be 68 in April, my wife is 5 years younger and retired also. Between our pensions we live the same as we did before retiring, my SS supports our boating habit. She just started her SS about 6 months ago and it goes into savings. The only reason I could go before 65 was being able to keep my insurance through the union with the monthly payment deducted from my pension. Being retired has allowed me to use the boat much more than when I worked.


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Old 02-24-2016, 09:21 AM   #39
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One thing I'm observing is a lot of people here who had kids late in life, or at least their last one late. I think that definitely impacts retirement and boat buying. You wonder from generation to generation. Today we're seeing people wait until later to marry, although not necessarily waiting to have kids. It's a double edged sword as to when to have children. People wait until they feel more stable and financially able to support them, but then that impacts at the other end as they think about retirement. One isn't going to go cruise the world while they still have children in high school and most aren't going to while they're in college. Plus even after they finish school there is generally some time required to build that nest egg where one wants it for retirement.
I agree. Having kids later in life vs earlier affects your later years. My sister had kids at 36, my son left for the Coast Guard when I was 38. Huge difference in our lives. She is still a PTA mom, and I'm playing grandpa.

I am also seeing a whole lot of long term relationships in this thread. Folks that end up starting over later in life with 1/2 their assets need time to rebuild.

Myself, I don't mind working for my boat. While we could do pretty well if I quit work at this point (without the boat) having that extra income sure makes things easier.
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Old 02-24-2016, 09:33 AM   #40
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I have had 3 liveaboards...one before kids, one when they were young and another when they were out of the house and just married. My kids didn't happen till I was around 30.


All depends on lifestyle choices.....and a little with marital bliss. Good or bad....


But have met a few liveaboard/cruising homeschooling families...their kids turned out better than average....so anything is possible if you want it and can work it out.


Like homelessness and bankruptcy...some are destined for it and others get caught in a whirlwind not of their doing....while I neither went bankrupt or homeless...both were knocking at my door and I decided on inexpensive boat living for the 3rd time. Just happened at the right time and place.

I am not working part time for my boat....I am working for my house and a transient lifestyle.......and maybe that is about to fizzle out too and just get on with it all....


Then there are guys who want to cruise but it ain't never gonna happen because Mom is a nester (sometimes Grandpa too). Even when the kids barely get out of the house and grandkids come. Some women I dated or just know can't go a week without visiting the grandkids....so cruising is going solo.


Easier is nice...gold plated over bronze is nice too...but many friends gold plated yachts have less than 200 hrs on their engines after decades and their health for cruising isn't getting better.
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