@Porwest
more from that month
Today, after a week back from vacation, retirement (and/or semi-retirement) weighs HEAVILY on my mind. And this only allows me to come to one conclusion. The vacation was not what I needed to get past the burn out. So, in the coming weeks I will be sitting down and trying to figure out what my next move is going to be. Not sure yet. But it needs to be figured out.
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I don't blame you on that; if you've been pushing and pushing for years then inevitably the "week off" you get for vacation time simply isn't enough. Please do whatever you can to lower your stress level and if you can't fully retire then at least look at the semi retirement idea a bit closer. Maybe ask your job if you can take a few months off, and if you feel refreshed after those if you can come back to them again. They might be willing nowadays when it's hard to hire people.
Really, for us, the solution we need to find is the health insurance one. We can afford, technically, to retire. But the cost of health insurance is really what makes it less than possible since that would add anywhere from $20,000-$30,000 a year to our retirement costs. Right now we get our health insurance through my wife's employer. So, it would make more sense for me, in the short term, to go the semi-retirement route while she still worked full time. I am able to make quite a bit from investments and other online activities to more than offset things—just not the health insurance thing.
Yeah, that's usually the problem for many of us. Being just "below" what we need to sustain on the long term without working; so if we quit working everything starts eating into savings really quickly....
Yep. That's the one thing I want to avoid. I prefer to use proceeds, not principal.
Retirement is fantastic! The only problem is figuring out how you're going to pay for everything once you give up a paycheck. I'm on social (in)security, and I get a little extra because we've got two kids under 18. But even living here in the Philippines, we are managing to spend more than we get. (Of course, that was also a problem when I was still working.)
I definitely can understand that. I have been a lifelong saver, and invest, and so there is large portion of my income even now as I continue to work that comes from gains, dividends, premiums collected writing covered call options contracts, other personal private investments and so on and so forth. I was in real estate as well up until a couple of years ago when I sold everything having tired of being a landlord, begging for rents, and having tenants destroy my investments. lol
You do covered call options? Wow ...... I'm impressed. That stuff is over my head. I never enjoyed being a landlord, so I would hire an agency to manage my property. Besides, with all the government craziness right now, I'm not sure being a small business landlord will be profitable anymore. IMHO you got out at the right time!
I really feel for the landlords with the moratorium on evictions and all else that is going on in that market. So yes, got out in perfect time. As for writing covered call options, they are probably one of the simplest of options strategies, and what I like about them is done right you never have to sell your shares, but still get to keep the premiums you collect for the right. It is a great way to generate income, especially from certain stocks that do not pay a dividend.
Why don't you write a post about how to do covered call options. I think that would be very informative.
I should do that. Better yet, I could write it on read.cash as sort of a introduction/tutorial of sorts.