Early Retirement

[Gaybutton]

I think it's quite possible that thaifarang genuinely thinks it's unlikely that he will be able to retire early.

Maybe so, but to continually dispute what those of us who did retire early are telling him is ridiculous. What does he think we're doing, lying?

Quite frankly, I really don't care whether he believes it or not. It's been explained. If he, or anyone else, doesn't believe what we've told him, so what?

[thaifarang]

I've tried several times to explain about retirement pensions.

No you didn't really explain it. Because if you had done it, you would have shown how the average person can retire at 50 if he wants to. My question is not how it is possible to retire at 58 or 60. That I understand. My question is about retiring at 50. Which is so very rare (99.99% of people can't do it) that I am very curious how the ones did it, who have done it.

I gave some options: inheritance, very high salary, laid off with immense payout, work disability at 50 giving entitlement to social security (or mental disability like that member who was so sad when his parents died he got social securtity because he couldn't work anymore because of the grief and subsequently moved to Thailand; which is a smart thing to do because you can live a better life on social security in Thailand then in your home country).

I see no other feasable option. What I wanted to make clear is that it is not something which is in reach for most people because it seems luck is a big factor. The time is too short to save so much for the bulk of people to retire at 50, so the ones who can do it probably don't enjoy it (in most cases) because of their own intiative, but because of luck.

While reading the replies from most of your guys it seems to be that you think "if you want it, it can be done". Which is obviously false. The bulk of people would love to retire at 50, but can't. So it is quite dumb to think 'if you want to retire at 50 and you start early you can do it'. It is false statement which many here in this thread however seem to think is true. Then I ask again: if is true, why do 99.99% of people NOT retire at 50? I am sure they would love to.

Looks to me if you can you were just lucky or public sector job as you said which gives right of retirement after working 30 years. But then you must have started age 20.

[Gaybutton]

I'll try one last time.

I worked 30 years, starting at age 21. After 30 years I was entitled to a full retirement pension, payable every month, with annual increases, for the rest of my life. That alone was plenty to cover my retirement.

If it still doesn't register, then that's your problem. After this post I'm all through trying. Believe what you want.

[thaifarang]

I understand your case. I wonder if this is still possible for the current generation. Do jobs with these benefits still exist in the public sector? I also wonder: wouldnt it have been smarter for your employer to fire you after 29 years working for them? Would have saved them about 14 yearly salaries to pay to you till your legal retirement age. By allowing you to fullfill your 30 years they added some big extra costs for themselves. Just a thought

[Gaybutton]

Congratulations. You finally get it - maybe. How old are you?

When I was ready to retire, I was not threatened with being fired. I was actually offered substantially more money if I would agree to stay on. Even if I was fired, I still would be legally entitled to the full retirement pension. Even if I was fired for just cause, or quit, or lost my job for some other reason, I would be entitled to the retirement pension for the number of years I had already worked. If I had been fired so that the employer could cheat me out of my pension, the employer would have ended up sued and in jail. I don't know where you come from, but where I come from the laws protect people from that sort of thing.

Direct any more questions to someone else. I don't want any further part of this nonsense.

[artic55]

This is exactly what many employers do nowadays, they may not layoff or fire older staff that are close to retirement age but get rid of them by emerging your department with another and thus making your job redundant. I have seen numerous cases like this in recent years and it saddens me to see how their loyalty to their employer over the years is rewarded. My advise, work independently if you can, be your own boss.

[artic55]

Gaybutton, there is no such thing as legal protection in the USA for the working class............you guys over there fuck'em left, right and center....lol

[Gaybutton]

This is exactly what many employers do nowadays

The only example coming immediately to my mind is what Enron did in the USA. Thousands lost everything, even many who had already retired. Meanwhile, to the best of my recollection the top executives got away with it and walked off with millions.

Then there was the Bernie Madoff Ponzi scheme scandal. There are always people ready to cheat you out of everything you have, with no remorse, and if they can, they'll do it.

In any case, I was asked how it worked for me and I've said how it worked for me.

[a447]

"so the ones who can do it probably don't enjoy it (in most cases) because of their own intiative, but because of luck."

Not true.

I studied long and hard to earn the qualifications to enable me to work in my occupation. Luck didn't really play a part, other than my father had the same job and was able to help me with my studies.

If I hadn't been willing to make certain sacrifices in order to achieve my goals, no amount of luck would have helped me.

Isn't that just the way of the world?

[thaifarang]

Congratulations. You finally get it - maybe. How old are you?

44. Sadly. And retirement will be age 67 as it stands now and probably age 70 (because less younger people are born here; it is not affordable anymore for the government to let people retire at 65, so recently it was moved to 67 and when my time comes it will be 70 I am afraid).

The generations of my parents retire around age 58 in practice (despite legal retirement age being 65) because this was subsidized by the government: employers could get rid of older employees and hire younger people: win-win.

But since the West is going down and we become less and less rich in the West, these nice programs can't be afforded anymore. So all these early retirement laws my parents generation could profit from have all been withdrawn.