What to do when I retire in 12 years?

[DaveW]

How do you find that?
I have been trying to work out how you would manage your personal stuff?
Say my wine cellar with 12 doz wine and my filling cabinet with my personal records as well as all the clothes etc.

They are purposely fitted. Have a read of the site.

[grip]

I'm a big fan of millionaire next door, and the millionaire mind. Amazing research and eye-opener when I read these books years ago.

MMM is good because he goes through in detail how he does it. Often a lot of people talk about their success but few describe the process of getting there.

[Wayne]

As to accomodation abroad, I find Roomarama.com good value where you use someone elses abode while they are away.

How do you find that?
I have been trying to work out how you would manage your personal stuff?
Say my wine cellar with 12 doz wine and my filling cabinet with my personal records as well as all the clothes etc.

[DaveW]

I didn't have those blogs when I was starting out, it was just a matter of getting on with it.
Without the goal and the reason behind wanting to be financially independent I doubt I would had been so focused.

My motivation was not just to be able to go travelling but to be able to do what I wanted, when I wanted, with whom I wanted! The funny thing is it was like an exponential growth and all of a sudden I arrived.

As to accomodation abroad, I find Roomarama.com good value where you use someone elses abode while they are away.

[Neongreen]

My apologies, http://www.early-retirement.org is the one I meant.

[drelly]

MrMoneyMustache(MMM) is good - but just be aware it's more financial porn than anything. People have gone through and added up his claims and they don't match up.

The Millionaire Next Door is excellent, also I recommend http://www.earlyretirement.org/, it's a huge community of people looking to retire early through living below their means and investing carefully. They're pretty friendly and can answer as many questions as you need regarding every aspect of this.

That early retirement one isn't a website, it's just a parked domain. Correct the address maybe?

[LivingTheKiwiDream]

I am an avid reader of both MMM and ERE blogs. They're both fantastic resources and great for inspiration. I spent several months reading all the posts (comments included) and have to say that the content was a great contributor to changing my attitudes towards frugality. Once viewed as a miserly mean spirited way of finance, I now think of it as an efficient lifestyle and the only sensible way to live. Still working on implementing all aspects of frugal living (gym membership and meals out are my weak spots) and trying to reach that elusive 75% savings rate that is crucial to early retirement. Can't believe Jason from ERE lives on US$7000 a year!

[Neongreen]

MrMoneyMustache(MMM) is good - but just be aware it's more financial porn than anything. People have gone through and added up his claims and they don't match up.

The Millionaire Next Door is excellent, also I recommend http://www.earlyretirement.org/, it's a huge community of people looking to retire early through living below their means and investing carefully. They're pretty friendly and can answer as many questions as you need regarding every aspect of this.

[Wayne]

If you spend 3-4 months over winter travelling around Asia, it will cost you less than you would ordinarily spend in NZ anyway.
It seems lots of people want to travel. It doesn't have to be expensive as Gavin has illustrated so well.

One of my favourite blogs is http://www.mrmoneymustache.com/
He talks about how he lived frugally, retired young (30s) and what he does with his time etc

Done that - doing some more.
South America is great also, interesting cultures.
As I said before, and each to their own, I don't want to HAVE to live frugally in retirement.

[Davo36]

That is a bloody good blog. And apparently he makes enough off just the blog to live comfortably anyway!

[grip]

If you spend 3-4 months over winter travelling around Asia, it will cost you less than you would ordinarily spend in NZ anyway.
It seems lots of people want to travel. It doesn't have to be expensive as Gavin has illustrated so well.

One of my favourite blogs is http://www.mrmoneymustache.com/
He talks about how he lived frugally, retired young (30s) and what he does with his time etc

[gavinc]

Keys - some advice from George Best

George Best:
"I spent a lot of money on booze, birds and fast cars. The rest I just squandered".

[gavinc]

All the fun stuff….food, drink, eating out, going out, shopping (though we don't overdo it…) and monthly donations to a couple charities etc.

I'd be reluctant to spend less than we are now at any time in the future.

cheers,

Donna

That's great - we have travelled for 6 months in each of the last two years - that's also fun stuff. Anyway each to their own - it would be a boring old place otherwise.

[donna]

I would be interested to know where you double or quad triple the spend? This is where the key is - it comes down to personal lifestyle - some are incredulous that we get by on this, I am incredulous that some people nedd $100,000 to live on.

All the fun stuff….food, drink, eating out, going out, shopping (though we don't overdo it…) and monthly donations to a couple charities etc.

I'd be reluctant to spend less than we are now at any time in the future.

cheers,

Donna

[orion]

Yeah, ok, thing is it's not like that at all Gary.

How many wealth people do you know who

You actually get bored of that sort of stuff really quickly.

Most people who have been driven to create a property empire and make money, are driven to go on and do other things.

And so comes the question, What other things? In short, what happens is you reach an existential crisis.

Becoming financially free is not a destination, just another step in the journey of life. (How cheesy does that sound lol).

Interesting discussion, would have to agree with Davo here.

Like Donna, I'm 50 also later this year. I've been investing in property for half that time, but really only successfully for the last 15 years or so with a couple of hiccups along the way.
I haven't had a wages job since 1991 when I was a mechanic, so 23 years ago now. Since 2000 I haven't had to work and hopefully will never have to again.
Last year we did a cruise around the Hawaaiin Islands, this year we are doing a 9 night on a Carnival Ship and I'm also shouting my sister and her son the trip. There are 12 of us going altogether. It is great to get away and travel at least a couple of times a year, but not something I would want to do, or I think many others would want to do all year around.
I also like the idea of the Home Exchange where you pick a destination (like on the movie The Holiday) somewhere in the world and swap houses for a week or two, something we plan on doing either later this year or next year. We also have a wedding to go to in Hawaii later this year.

For me though, even though I don't have to work and could travel all year, I would get bored with it and do like time to be at home. I like looking for more real estate deals, that is what I think is fun. Buying properties under market value, selling them on or renovating them, and the new idea I mentioned in another thread a few weeks ago with buy and holds.
If I had to choose one i.e. travelling the whole year, or only looking for properties all year and no trips away, it would be a very easy choice - property investing.