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Early retirement: interview with “Mr. Weirdo”
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Rasheed Hooda, keynote speaker
Mr. Weirdo: First of all, we have to ask you how you got that name! Hopefully, it's a nickname?
In July of 1984, I was a counselor at a summer camp on the outskirts of Cleveland, Ohio. I was talking with one of the fellow counselors and told her about my non-traditional way of thinking, something to the effect that “I am kind of weird like that.” A few months later, I received a birthday card. At the top of the outside of the card there was a caricature of a group of green men standing on the left and a lone purple guy standing to the right. The caption read:
"If a being fails to keep pace with his contemporaries, it is because he hears a different drummer." The message inside revealed, "Either that or he is a Weirdo."
I am fond of that memory. So, it's a self-proclaimed honor, you might say.
Great story! But today, we're going to talk about taking early retirement and living the life of your dreams.
1. How long ago did you take early retirement...and were you "of age"? http://www.socialsecurity.gov/retire2/agereduction.htm
I said farewell to working for others in July of 2007. If you're wondering about the repeated occurrence of July, it has something to do with freedom, as in 4th of July. If by "of age" you mean mandatory retirement age, Heck no!
2. What was the biggest factor in making the decision to retire early?
I was sick and tired of letting the "business of making a living" getting in the way of having a life.
3. Do you feel like your insurance policies were in order and you had enough money "socked away", even in today's economic mess?
Again, heck no! Smart people don't "sock away" their money, they put it to work. And the only insurance I've ever needed and had is "socked away" between my ears.
4. Did you have a pension plan or an IRA? http://www.dol.gov/EBSA/consumer_info_pension.html
I was once a partner in a company called IRA Business Consultants. I was the "R" in the IRA
5. Did you take your payment in a lump sum or monthly payments?
Lump sum, and spent it on the biggest mistake a man ever makes. I used it to get married. (Thanks Rasheed…my wife reads these articles too!!)
6. What age did you start working? Your Social Security payment is based on the average of your best 35 years of work, adjusted for inflation, so if you retire "too soon", some of those years are computed as zeros. I dropped out of college, where I was majoring in Chemistry and Mathematics, to become a restaurant manager. I was 21. As for the Social Security payments, if they ever show up, it will be a nice bonus.
7. Did you start collecting Social Security at 62? http://www.ssa.gov/
I haven't made it that far. Do you think Warren Buffet and Donald Trump care about collecting Social Security? Both are beyond 62, you know.
8. Did you calculate a 3% average adjustment for inflation on an annual basis? If so, how do you plan on adjusting your spending habits to offset those expenses?
I am not dead yet. I plan on staying active, having fun and providing value for a long time to come. And as long as I do that, I'll have enough cash flow to keep me eating healthy and sleeping under a roof. Not to mention traveling the world.
9. Homes are expensive. How far away are you from a "free and clear" mortgage expense (including deductible interest)?
I never got involved with that liability.
10. Medical expenses: How concerned are you with the fragile Medicare/Medicaid system our country is currently in? http://www.medicare.gov/ and http://www.cms.hhs.gov/home/medicaid.asp
As long as you leave matters in the hands of politicians, liberals or conservatives, you have to be concerned. God Blesses America.
11. What are you doing with your "free time": volunteering, community involvement, organizations, working??
I’m doing all of the above and having fun. I drove 300 miles one way just a few days ago, so I can go climb the Enchanted Rock out in Central Texas. It was the beginning of a five year journey that will culminate on top of Mount Everest on my 60th Birthday. My goal is to become the oldest person to summit Mount Everest. Considering that a 71 year old man from Japan made it there last year, I am going to establish mine on my 75th birthday just to insure that it stays unbroken for a while. Now, that's an insurance I can live for!
I have started a blog to chronicle my journey, so it can be there as a guide for those who may want to follow. www.EverestAt75.com It's a work in progress.
I have started a blog to chronicle my journey, so it can be there as a guide for those who may want to follow. www.EverestAt75.com It's a work in progress.
12. Any final thoughts?
I can't remember to whom it was attributed, but I read a quote a few days ago:
"Some people do what is possible, while others look at what is impossible and ask, why not? By considering it probable, they make it possible."
Some people look at early retirement and give into it…and give up because of it.
Why is it “weird” to keep going with a positive attitude, doing everything you can to contribute to society or even making plans to scale Mt. Everest (or go skydiving on your 85th birthday)?
If that is considered being a “Mr. Weirdo”…then that nickname is a proclaimed honor, indeed.
Today’s Word: PERSPECTIVE (per-spek-tiv)
1. A visible scene, esp. one extending to a distance; vista.
2. The state of one’s ideas, the facts know to one, etc. in having a meaningful interrelationship: As in, “You have to a Houstonian for a few years to really appreciate dry, brown yards.”
3. The faculty of seeing all the relevant data in a meaningful relationship.
4. A mental view or prospect.
Monday's Book: “How to RETIRE Happy, Wild, and Free” by Ernie J. Zelinski 
“Retirement does not have to mean the end of life—in fact it can mean a whole new beginning to the life you never had time to explore. In HOW TO RETIRE HAPPY, WILD, AND FREE, best-selling author Ernie J. Zelinksi shows that the key to enjoying an active and satisfying retirement is dependent on much more than just having adequate financial resources. It means paying attention to all aspects of life, including leisure activities, creative pursuits, physical and mental well-being, and solid social support. With its friendly format, lively cartoons, and captivating quotations, Zelinski’s guide offers inspirational advice on how to follow your dreams instead of someone else’s, how to put your retirement in proper perspective, and how to enjoy life after work”.
For more James Hamilton: .jpg)
or I DARE you to try: .jpg)
But, if you want to: .jpg)
or even follow me on: .jpg)
Or e-mail me. That would be nice too...because I am NOT going mountain climbing with Rasheed!
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