Retirement Planning

I’d definitely keep working.

I’d just use the money to ensure I never have to apply for another grant (massive PITA), and that any students who ever work in my group are fully remunerated for their research.

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Not a hope in hell.

I love my job, but I love playing golf, travelling with my fam and doing whatever else I want a hell of a lot more.

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Show me the money and I’m gone! Way too much life to be had outside the confines of work.

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I’m OK with my 2 days a week casual. I’ve also been filling in for an older bloke who heads north for the winter; not gonna do that anymore. I could probably do this for another 5 years but then there are a couple of guys at work who really irk me, when I tell them to fark off it will be time to call it quits.

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Well done.

I have another interview Monday. To be honest the recruiter is making me not want to get the job. But I have a pretty decent current one, so nothing to lose

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Don’t want to pump my own tyres but back in 1987 when Geoff Hesford (?), who’d opened Bat and Ball in the (current) premises of Greg Chappell’s shop in Dudley St, asked me out of the blue to invest in his store. I couldn’t because of the stock market crash, and my job at the time was about to go t!ts up.

His main employee at the time was a guy who way playing for Watsonia (was VTCA). He told me that a very well-known woman cricketer who’d just got Brian Lara out, played for “the other team”. My response was the standard “oh, so she knocked you back, did she?”.

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Let me just say, having run my own businesses since my young 20’s, that there’s a difference between owning a business that is already profitable and has management in place, and building that, by yourself, from scratch.

Building from scratch takes a period of time running at a loss, while working harder than you ever have, with a chance of it one day becoming profitable. And you quickly learn you need to have the skillset to be a salesman, manager, accountant and advertising guru, and the wisdom to know when to spend time doing which.

And if you try running your own retail store for awhile, then a wholesale or b2b company, there’s a huge difference. Retail is a tough gig.

Not that I would put anyone off running their own business. It can be the most rewarding thing to do. But if you want to start a business to have your own freedom, the concept and the reality are two different things.

If you want to do it because you love to work hard, and want to learn about your own weaknesses and improve as a person, then you made a great decision.

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My, that’s a juicy bit of goss.

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I retired last year so definitely wouldn’t go back to work if I won the lottery . Got a nice little volunteer driving job, 2 days a week but more if they can’t find other drivers, and golf 3 mornings. Fark trump he’s trying his best to get me back to work.

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Passed my business over to my 2 sons last year. Eldest, the more business savvy, complains about having to go quoting on a weekend and doing paperwork at night. Hello… He must think I only worked 9 to 5 :smile:

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There’s commuting to work in traffic.

Then there’s commuting in style

https://discourse.bomberblitz.com/uploads/default/original/3X/1/a/1ad698bd568d476d9ab13872e4e0f22ede3b15d0.jpeg

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No you don’t.

You do need to be physically active or you just fall apart.

The annual interest on 2 million alone at say 4 % is 80k. If it’s even invested in half decent assets it will exceed that.

6mill and your talking a 250k a year income. Doing nothing.

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You can live on $80k/yr very very easily (I’m assuming since you’ve won’t the lottery you don’t have a mortgage or rent to pay!), but genuinely big expenses (major house repairs, restumping or a new roof for instance) will mess you up. You end up diving into your principal, and then it starts getting messy.

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Yeah sure it’s age dependent.

Havent asked @baccusfox his age but I’m assuming by his posts he’s got some grey hair.

And he’s exported all over the world apparently as a business owner, has a psychiatrist wife, been in politics, has a couple of luxury cars

I’m honestly surprised he needs anything to retire.

Maybe quit a very chronic lotto gambling problem or drug habit he’s never shared?

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Over-generous donations to the Flight Plan, clearly.

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There is living and there is surviving. If you own your home, drive a Tesla (which by the way are not luxury cars), and don’t travel or go out much, $80,000 ($64,000 after tax) is survival.

If you like living, going to restaurants, footy, travel on holidays and want nice things, it is not enough. Retirement usually means go have to cut back on many things, just to survive.

Now those in my age bracket who don’t own their home, and rely on a pension are farked.

So $80,000 with no major expenses is not enough???
I think i would take it.

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Interesting discussion.
I look at it like this…
60-70 enjoy and spend
70+ things slow down so not spending as much.
Super projects average income.
You will clearly spend less with age.
My Super projection has me living till 104.
I can’t see that happening :stuck_out_tongue_winking_eye:

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Sell your house, live on a cruise ship, eat the world and ■■■■ in its mouth, sail off into a morphine void. Retirement 2030 style.