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Old 02-24-2016, 10:05 AM   #41
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I'm glad we waited to have our daughter. We had a chance to spend as much time as we wanted going on high octane physically demanding sea kayaking, rock climbing, and hiking adventures funded by working short contract or seasonal jobs. No ties. No anchors. Free to explore.

It's a gamble to wait until retirement to do that sort of stuff. Some people get sick and have to kiss life long dreams goodbye.

In our case it was a hard drinking, chain smoking driver of a Dodge Ram pickup who t-boned my wife's Honda Civic in the drivers side door. He was partially paralyzed from a previous stroke, got his drivers license back, had a seizure, and with his foot on the gas crossed into oncoming traffic and changed our lives forever.

That, and I freely admit being pretty scattered & squirrelly until my 40's and didn't "own myself" until my 50's, so waiting to have kids was best for us.
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Old 02-24-2016, 10:11 AM   #42
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I should add...I was lucky to find a lady who agreed with me that memories of adventures accomplished while young would be worth more in your last days than whatever "stuff" you had bought during life.
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Old 02-24-2016, 11:26 AM   #43
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Retired at 51 and had our current boat built 18 years ago. No kids and two good jobs, so we paid cash.

The amazing thing is when I was 65 we acquired a 7-year-old! Not exactly what we had planned. He's become a pretty darn good boater, with about 5 months cruising/fishing SE Alaska under his belt. Now we're thinking about an NT37.
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Old 02-24-2016, 01:52 PM   #44
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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.
Beautiful name and beautiful story.
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Old 02-24-2016, 02:51 PM   #45
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Beautiful name and beautiful story.
As an adopted son, I agree on BandB's observation. Good one Marin
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Old 02-24-2016, 03:16 PM   #46
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I retired 3 years ago this coming June. I'm keeping up with the boat maintenance but we,spend everything I earn on retirement, including a drawn on the dividend income from the RRSP. I just picked up a couple of contracts which will help things a bit.

I am working for the boat. I'm doing many of the projects myself. For example, I rebedded all 7 Pilothouse windows and replace 4 panes that had clouded around the edges. Total materials were just under $700. I talked to another owner of a KK42 and he paid a shipwright $4,000 to do only the 3 forward windows and his completed work didn't look any different than mine. I figured I saved $8,600.


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This is what I also aspire to do all thanks to Jim, Larry and Al, KK42 do it yourselfers.

And because of their advice, I have been pretty successful in keeping coasts down the last three years.

Retirement came 5 years ago and as long as the cruising costs stay reasonable, I can eat.

Just give me another few years of cheap fuel and strong dollar
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Old 02-24-2016, 07:10 PM   #47
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I am definitely working for the boat, but that is just fine. At 45 with kids in middle and high school we could have waited 10 years - paid cash and then sailed away, but i much prefer making payments now and enjoying it with the kids while we still have them at home. Priceless.

...and in 10 years we can still live aboard a PIF boat and start a different adventure.
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Old 02-24-2016, 09:26 PM   #48
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Retiring in June, as is the admiral. Boat and house are paid for. Have an agreement with my boss to stay on as a consultant 1-2 days a week. Will keep my work phone and laptop on board so our guys can get a hold of me when necessary.
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Old 02-25-2016, 01:06 AM   #49
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Not working for the boat, paid cash 4 years ago. I'm still working towards retirement in a few years... Still searching... For where we will land
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Old 02-25-2016, 07:41 AM   #50
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We paid cash for the boat and the major yard work required at that time...I'm going to retire in 2 years at 62 with everything paid off. Wifey will keep working until she wants to retire, maybe 5 or 6 more years....that will give me time to tinker with the boat at my leisure and get it perfect for our planned loop/Bahama cruises. By the time I retire, the few financial obligations we have left will be totally paid off.
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Old 02-25-2016, 08:54 AM   #51
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I would have probably worked another 2-3 years but I was having to put in way too many hours and just got burned out. I won't rule out working part time if I found something tempting but I'm really enjoying not having a schedule to work to. I'm finally getting around to repairs around the house I've been putting off and also getting to work on the boat. In addition I have a bunch of other boats and motorcycles sitting around that will be spruced up and sold off. The real benefit to retirement though is having time to be with family and friends for sure.

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Old 02-25-2016, 09:30 AM   #52
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I would have probably worked another 2-3 years but I was having to put in way too many hours and just got burned out. I won't rule out working part time if I found something tempting but I'm really enjoying not having a schedule to work to. I'm finally getting around to repairs around the house I've been putting off and also getting to work on the boat. In addition I have a bunch of other boats and motorcycles sitting around that will be spruced up and sold off. The real benefit to retirement though is having time to be with family and friends for sure.

Kevin
I contrast your post to Johnma's. You with what has become the typical employer. Him with an employer who valued his knowledge and was flexible enough to work out a solution that worked for them both.
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Old 02-25-2016, 10:47 AM   #53
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Some industries and some jobs don't lend themselves to part time work or part time employees.

Being an optometric physician, I have the advantage of having the flexibility of working part time. Of course the down side is that it also means I am the sole source of production. If I am not seeing patients, no income is being generated yet rent and utilities still need to be paid and my staff for some odd reason still want to get paid.

Regardless, since no one is going to be paying me a retirement, I hope to be able to cut back to an equivalent of 2 days/week in a few years. I figure 35 weeks of working 3 days/week will give me lots of long weekends on the boat and 15 weeks a year of no work. Plenty of time to explore my home waters and still pay for the habit.
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Old 02-25-2016, 11:55 AM   #54
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Some industries and some jobs don't lend themselves to part time work or part time employees.
I can't think of many that don't. I've never encountered a situation in which I couldn't use a senior employee who was nearing retirement or retiring on a consultant basis to make the transition smoother. I consulted for my employer when I retired and still do occasionally. He'd give me as much work as I wanted.

The way I look at it, I see knowledge and experience in employees considering retirement. The way, unfortunately, many employers look at it is they see high priced workers who can be replaced by entry level at 25% of the cost.
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Old 02-25-2016, 01:12 PM   #55
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B-very good points you have often raised. I am constantly amazed at the moves made, most often at mid to lower levels by major corps. Case in point-my brother-in-law and 3 others started a small. niche medical software company some 30+ years ago. Built a very solid stable business, catering to major medical centers. Well established over the years in those major centers and in the UK Health system. 8 years ago they were acquired by a big medical software company which was then acquired by GE. All upper level management was retired or let go. Management moved to a GE office in Salt Lake City. About half the remainder of the Seattle staff laid off. Projects now required 3 levels of review, 6-12 months, before approval. Business dropped off substantially. My BIL finally retired along with most of the older employees. GE went to the med centers asking why no more business. They were told-all the guys who know our systems (these were now legacy systems) inside out, and can respond to special requests quickly were gone. We don't get anyone from GE who knows our systems and can help us. We are dealing more with managers who don't know how to help rather than with systems guys who solve our problems. GE had to go back and rehire about 30 people as consultants to keep the business. My BIL now at 69, gets about 25 hours a week, on his own schedule, at home, at about 2.5x what he made before. The same goes for the other people hired back. GE was more concerned about integrating a newly acquired company into its "culture" than it was in recognizing and using the talents of those that built the acquired company to continue and expand the business.

Compare that to Berkshire-Hathaway, Warren Buffet, who acquires companies with strong management and then does no more than provide them with the resources to continue doing what they are doing, just more and better.
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Old 02-25-2016, 01:16 PM   #56
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PS-sorry for the off-topic rant-B just hit a sore spot. One I guess we older guys see more often and recognize more easily than all those young whippersnappers!
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Old 02-25-2016, 02:58 PM   #57
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I could see many occupations that are adversely affected by cutting back IE a Sales job, or roughly any job by the hour like tradesman type work. Maybe i just donít see how without selling the business and agreeing to coach or only handle specific clients but if you intend to do any long distance or extended cruising this wont work either!
Great thread
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Old 02-25-2016, 03:00 PM   #58
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Retired at 55 (after 25 years in the Motorcycle business), Now 67. Immediately went into a home based business building some of my VW/Audi proprietary performance designs.....Mostly to fund my Car hobby and get the kids through college. About a year ago, and 16 years after selling our last big boat, I had a Eureka moment. We're near a beautiful cruising area and had no boat. Sold the C7 Corvette and bought the Cape Dory. Recently wound down the business as I was totally bored with it after 10 years. Plenty of time for boating now, and prior Pensions (Honda Motor Co.) IRA's and SS easily pay for the fun...We've been enjoying the boat a whole lot more than the Corvette...I've never begrudged a single dollar spent on boating. You can't put a price on that...
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Old 02-25-2016, 03:31 PM   #59
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Compare that to Berkshire-Hathaway, Warren Buffet, who acquires companies with strong management and then does no more than provide them with the resources to continue doing what they are doing, just more and better.
Yes, I was fortunate enough to work for one of their companies.
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Old 02-25-2016, 08:39 PM   #60
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Are you working for your boat or are you working for everything else. I am retired and my wife is still working. We can live comfortably on our boat wintering in florida and summering in Rhode Island and cruising back and forth. If we want the big condo, new cars, travel to other places and all the other land based stuff she will work for a few more years. If we just want the boat we could do it now.
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