Do you believe it when someone claims to be 'semi-retired' in their 50's?

I call bullshit on it for the most part. I'm no longer working permanent full time but i still work almost the same contracted hours (it's just not called 'full time'), but in no way am I 'semi retired'. I've deliberately reduced my hours of work to give more time to my daughter who is now 5 y/o. I can't conceivably consider 'retirement' until at least age 70 and I'm 53 now.

I've heard of FIRE principle but you have to be some sort of obscenely rich young go-getter exec, or a member of the silver-spoon fraternity, to retire 'early'.

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stratosranger · M

53. Retired. 🤷🏻‍♂️

zonavar68 · 56-60, M

@stratosranger How is that even possible?

stratosranger · M

I saved, invested and didn’t do stupid crap like buy BMWs or inherit other frivolous debt. My investments were doing well but locked in the market. A good friend showed me how to diversify my investments with less cap gains taxes and put my money to work 10 years ago. I built up a nice nest egg in that time and moved to FL two years ago without touching the principle. My $ is in four pies: stocks, bonds, life insurance policies and of course good old cash. I have a small but well appointed home with a pool that has jumped 300K in value in just 2 years. My investments are still paying out dividends and life is good. @zonavar68

zonavar68 · 56-60, M

@stratosranger Ok interesting. I don't have any investments or own a home. I have kids and currently pay $12k a year on child support for my 5 y/o and the same in rent. never had life insurance. Got very little cash. I'd just like to own a home (but getting a mortgage would be difficult). I have a lot of money in super (like 401k) but can't use it yet (not even to buy a home - that's not allowed).

stratosranger · M

@zonavar68 Ah. I started all of this like 30 years ago. I don’t know what else to tell you.

zonavar68 · 56-60, M

My main change has been to reduce my work from permanent full-time (76 hrs per fn) to perm part time (64 hrs per fn) to give more time to my daughter. I cancelled the only life insurance I had (linked with the super fund - so insurance is considered 'junk' anyway) 2 yrs ago. 30 yrs ago I never gave any thought to retirement planning. Not owning my own home is the big thing for me - that makes me worry.