20-something + Retirement = What?

[ercchry]

Originally posted by davidI


This should be good. Explain to me how a $1k / month mortgage payment ($84k in payments over the last 7 years) pays off $113,200 of a theoretical $200k mortgage leaving you with a current mortgage of $86,800, as you suggest?

the $800 in rent on top of the $1000 payments... either under your mattress (cash, no paper trail) or through the bank (invested with a return that hopefully covers the tax implications)

[davidI]

I re-read your post and get what you're saying. Pay down the house and live off $1600/month rent in SE Asia.

Haha, ok. Go try that some time and let me know how it goes for you.

[ercchry]

Originally posted by davidI
Haha, got it. So no savings for traveling after all.

i dunno, if you work at McDicks i guess not

but in calgary, i sure hope you can still sock away $800/month for travel

[davidI]

I'm done here. I don't agree but everyone is entitled to make their own mistakes. Hope your plans work out for the best.

[Tik-Tok]

David, you're obviously enjoying your life as it is, and I'm not going to bash you for that, but saying that working hard when you're young, and travelling when you're older is "the wrong choice" is pretty ridiculous.

I'll use my co-worker as my example.

He bought his first home after he was married in his early 20's. They didn't manage to pay much extra off on it (took 23 years), but when he turned 45, their place was paid off. After that they had all the extra money, they saved and invested it, and every year they take a month off work and travel the world. In the past 10 years I've know him, he's been all over the world, just like you, and is enjoying life tenfold.

Just because you don't travel when you're young, doesn't mean you can't travel at all. I also look forward to having our house paid off, so we can do the same thing. It isn't like if you completely miss the opportunity to travel when you're young, you're screwed for life and will regret it until the day you die, you just have to realize there'll be a couple of decades of wishing you did travel the world, before you can.

[davidI]

Originally posted by Tik-Tok
David, you're obviously enjoying your life as it is, and I'm not going to bash you for that, but saying that working hard when you're young, and travelling when you're older is "the wrong choice" is pretty ridiculous.

Why not do both?

[Disoblige]

Originally posted by Tik-Tok

Just because you don't travel when you're young, doesn't mean you can't travel at all. I also look forward to having our house paid off, so we can do the same thing. It isn't like if you completely miss the opportunity to travel when you're young, you're screwed for life and will regret it until the day you die, you just have to realize there'll be a couple of decades of wishing you did travel the world, before you can.

Not only that, but some people might prioritize having a home as #1 first and it also doesn't necessarily mean they can't travel until they're 40.

Traveling when you're 25-30 might even be more fun than if you traveled when you're in the your early 20s. Of course this depends on person to person, but if you are making enough coin to purchase a place and have plans to travel not immediately but in the foreseeable future, then go buy a home. Why the fuck not?

[davidI]

Originally posted by Disoblige

Why the fuck not?

From my experience having bought a home and then traveled, there are lots of reasons. All detailed previously.

[ercchry]

Originally posted by davidI


From my experience having bought a home and then traveled, there are lots of reasons. All detailed previously.

but your definition of travel is slightly different than most people's... you go places for years, not weeks or months

[flipstah]

Originally posted by davidI


Wicked.

Mind sharing the list?

The list for me is a bit personal because a mix of big/little things and it sums up my greatest fears/regrets/etc.

I can share with you what I accomplished so far:

- Tell my grandmothers that I graduated from university
- Jump off a waterfall
- Go on a roadtrip with my closest friends
- Start a 'picture of the day' collection
- See the 7 Wonders of the World (Started it with the Chichen Itza and I'm still 1/7)
- Start up golf and shoot <80 (I'm 1/2 lol)

And I actually accomplished a new one yesterday:

- Get a shutout in hockey



A couple of things that I want to accomplish include:

- Visit every single continent in the world INCLUDING Antarctica
- Go to a safari
- Solve a crossword puzzle

[ercchry]

Originally posted by flipstah



- Visit every single continent in the world INCLUDING Antarctica

that's my dad's next big trip (Antarctica) ... he is just having issues convincing my mom to go

they have done every other continent at least once

[flipstah]

Originally posted by ercchry


that's my dad's next big trip (Antarctica) ... he is just having issues convincing my mom to go

they have done every other continent at least once

Nice! I want to see penguins in the wild!

I'm 2/7 so far (N.A./Asia)

[ercchry]

i have Antarctica, Asia and Africa left. im thinking asia tour next year... then im not too sure when i will see the other two. i dont really have the urge right now to see them

[davidI]

Originally posted by ercchry


but your definition of travel is slightly different than most people's... you go places for years, not weeks or months

I go places for weeks and months all the time. My next trip I'm going to Sweden for 10 days, Denmark for 4 days, and Norway for 10 days. But I'd never say I've 'done' them.

If you want to 'see the world' you're going to have to use more than 3 week vacations to do it.

[davidI]

Originally posted by flipstah

- Solve a crossword puzzle

I love this one.

Congrats on your shut out.

[sputnik]

Originally posted by Tik-Tok
I'll use my co-worker as my example.

He bought his first home after he was married in his early 20's. They didn't manage to pay much extra off on it (took 23 years), but when he turned 45, their place was paid off. After that they had all the extra money, they saved and invested it, and every year they take a month off work and travel the world. In the past 10 years I've know him, he's been all over the world, just like you, and is enjoying life tenfold.

I have a friend that is similar as well.

Started working at a place when he was 18. Married at 20 and had 2 kids by the time he was 22.

Worked his way up the ladder (now a supervisor at head office) and has 8 weeks of annual vacation (due to 20+ years of service), has a 2200 sq ft house paid off and both kids through university and married off. They travel as a couple all of the time and often with their kids and their spouses as well.

He now is 47 and his wife is 45 they are both able to retire whenever they want. However for now they like the double income and no kids scenario and will probably work for another 10 years or so. They both have tons of holiday time so it doesn't really cramp them.

Sure he could have waited until he was 30+ to get married and have kids by the time he was 35. However his kids would barely be in junior high, he would have paid far more for his house and his wife would have married someone else. He might have even been single given the fact that many women are usually married by 30 and the ones that are left usually come with baggage, no desire for kids (past their prime) and are psycho and probably should remain single forever.

From my perspective. The only time limited decision you need to make is not the house you buy or the places you visit but rather the person who you plan to spend your last days with.

Now that I am married with kids I wish I would have pulled the pin on both earlier.

[davidI]

Originally posted by sputnik


From my perspective. The only time limited decision you need to make is not the house you buy or the places you visit but rather the person who you plan to spend your last days with.

I do agree with you that this should be the most important thing, but why is it a time limited decision? You can't force finding the right person, and in my mind, you're just as likely to meet her on the road as you are in Calgary.

[adamc]

Originally posted by davidI
you're just as likely to meet her on the road as you are in Calgary.

1000x more likely, Calgary is full of entitled twats and 2 guys competing for each of them.

[sputnik]

Originally posted by davidI
I do agree with you that this should be the most important thing, but why is it a time limited decision? You can't force finding the right person, and in my mind, you're just as likely to meet her on the road as you are in Calgary.

While the right woman could be anywhere. I don't think anyone is doing themselves any favors by delaying the process intentionally.

And yes, you could meet the right person on the road somewhere, but are you willing to live in their country unable to work or convince her to move to Canada potentially far from friends and family? I have seen both and neither couple is doing that well a few years later.

It definitely complicates the issues.

Additionally. Your stories and experiences seem a whole lot less amazing when you are telling them to your wife who wasn't there to share them with you. Do you really think she is going to want to hear about all of your conquests over and over again? Do you really want to play tour guide with her when you visit places you have been but she hasn't?

It may seem trivial to you (given that you are single) but even in the short time I was single before getting married, the things I did alone seem very unimportant to the things we are now doing together. The fact that I was able to establish a stable financial base for the two of us has proven far more beneficial than me hiking Machu Picchu in my 20s.

[davidI]

Originally posted by adamc


1000x more likely, Calgary is full of entitled twats and 2 guys competing for each of them.

Werd.

I don't think traveling is 'intentionally delaying' the 'process'. Actually Sputnik, the fact that you called it a process turns me off the whole idea further!

I'd actually love to meet a girl from another Country as it would provide additional options for work and retirement. Marry a hot Spaniard and work 15 years in Canada making bank, while paying off an amazing property in Spain that is under-priced from the recession. Or, go work elsewhere in the EU and do the same thing.

I wouldn't tell my wife about travels over and over again. I'd go do more with her! And I'd never play tour guide...once you've put in enough time on the road you realize the real experiences are outside of your guide book. Two visits to the same place will never be the same, unless you force them to be.

I know a pretty kick ass dude from Calgary who is in his 50's. H's a retired multi-millionaire that spends his life going on bike tours and ski trips. He gave me great advice over beers about women - unless she is going to make your life better than what you could live on your own, what's the point?

He wasn't against getting married, and told me a lot of his buddies had great wives, but also said that he's happy as hell and always has been.

That took all of the pressure off me trying to 'force' marriage.

Being back in Calgary last month and finally having that 'wave' of divorced friends also confirmed it.

Being single can be amazing and being married can be amazing...no reason to force either outcome in my mind. Just do what makes you happy.

If you're happy doing the 8-5 Monday to Friday and weekend Home Depot thing, that's totally cool. Lots of people like settled lives. There are other options though...

After all, to be exceptional you have to be an exception....