Comments on: Doing the “Impossible” http://blog.canadian-dream-free-at-45.com/2007/11/20/doing-the-impossible/ Wed, 08 Feb 2012 17:31:40 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Carnival of Personal Finance #128 - Investment Truth Edition - Stock Trading To Go http://blog.canadian-dream-free-at-45.com/2007/11/20/doing-the-impossible/comment-page-1/#comment-1827 Carnival of Personal Finance #128 - Investment Truth Edition - Stock Trading To Go Mon, 26 Nov 2007 18:17:40 +0000 http://blog.canadian-dream-free-at-45.com/?p=281#comment-1827 [...] from Canadian Dream: Free at 45 presents Doing the “Impossible”, and says, “A post on reaching from your target or dreams by saving regardless of what others [...] [...] from Canadian Dream: Free at 45 presents Doing the “Impossible”, and says, “A post on reaching from your target or dreams by saving regardless of what others [...]

]]> By: Canadian Dream http://blog.canadian-dream-free-at-45.com/2007/11/20/doing-the-impossible/comment-page-1/#comment-1750 Canadian Dream Thu, 22 Nov 2007 12:17:27 +0000 http://blog.canadian-dream-free-at-45.com/?p=281#comment-1750 Farouk, THANKS! That will help out a little bit. I forgot that the limit was going up next year! Tim Farouk,

THANKS! That will help out a little bit. I forgot that the limit was going up next year!

Tim

]]> By: Farouk http://blog.canadian-dream-free-at-45.com/2007/11/20/doing-the-impossible/comment-page-1/#comment-1733 Farouk Wed, 21 Nov 2007 15:35:29 +0000 http://blog.canadian-dream-free-at-45.com/?p=281#comment-1733 Hi CD, This is the first time I am posting but I have been reading your blog everyday for probably the last 4-5 months. Just wanted to give you some first-hand info from EI. I believe the weekly payment increased to $423 this year and you can ask to reduce the amount of tax holdback to as little as $18/week (for a weekly payment of $405). So depending on your yearly salary, and how much tax has been withhled by your company (I assume that they are taking off tax based on a full year of salary), this may help you make up your $50/month shortfall Hi CD,

This is the first time I am posting but I have been reading your blog everyday for probably the last 4-5 months. Just wanted to give you some first-hand info from EI. I believe the weekly payment increased to $423 this year and you can ask to reduce the amount of tax holdback to as little as $18/week (for a weekly payment of $405). So depending on your yearly salary, and how much tax has been withhled by your company (I assume that they are taking off tax based on a full year of salary), this may help you make up your $50/month shortfall

]]> By: Canadian Dream http://blog.canadian-dream-free-at-45.com/2007/11/20/doing-the-impossible/comment-page-1/#comment-1721 Canadian Dream Wed, 21 Nov 2007 02:19:23 +0000 http://blog.canadian-dream-free-at-45.com/?p=281#comment-1721 CT, I completely agree with you. You shouldn't retire to escape things. As to me knowing early retirement will make me happy? Well that's a easy one, as CM mentioned I'm going to do a little test drive of it next year for about 8 weeks. So I'll keep you all posted if I start going insane and want to go back to work. I got the feeling I won't want to go back. MM, Thanks. You covered my vision of retirement well! Freedom is the key word. CM, You hit it on the head. I love learning, thinking and writing. I visit my library at least once a week to get new material, so I don't think I'll be getting bored with my extra two decades in retirement. Tim CT,

I completely agree with you. You shouldn’t retire to escape things. As to me knowing early retirement will make me happy? Well that’s a easy one, as CM mentioned I’m going to do a little test drive of it next year for about 8 weeks. So I’ll keep you all posted if I start going insane and want to go back to work. I got the feeling I won’t want to go back.

MM,

Thanks. You covered my vision of retirement well! Freedom is the key word.

CM,

You hit it on the head. I love learning, thinking and writing. I visit my library at least once a week to get new material, so I don’t think I’ll be getting bored with my extra two decades in retirement.

Tim

]]> By: Canadian Money http://blog.canadian-dream-free-at-45.com/2007/11/20/doing-the-impossible/comment-page-1/#comment-1704 Canadian Money Tue, 20 Nov 2007 17:25:53 +0000 http://blog.canadian-dream-free-at-45.com/?p=281#comment-1704 Your like the guy who had the nerve to say the world was round when everyone else believed the world was flat. Don't let your idea opponents stop your search for a better way...rather - use their comments to help you ask the right questions and where necessary...change you plan to make it stronger. Oh...taking time off for your children is a little bit like "extreme early retirement". Maybe, in a way your already there, at least temporarily. No one ever knows for sure how happy they will be in retirement. Some men go crazy, then go back to work, others end up working at min wage jobs just for something to do. Knowing who you are is a big part of the decison. You obviously like learning, thinking and writing. You could easily spend a second entire lifetime on a writing career. Like that dividend stock guy...Derek what's his name? It could easily become a source of income. Your like the guy who had the nerve to say the world was round when everyone else believed the world was flat.

Don’t let your idea opponents stop your search for a better way…rather – use their comments to help you ask the right questions and where necessary…change you plan to make it stronger.

Oh…taking time off for your children is a little bit like “extreme early retirement”. Maybe, in a way your already there, at least temporarily.

No one ever knows for sure how happy they will be in retirement. Some men go crazy, then go back to work, others end up working at min wage jobs just for something to do. Knowing who you are is a big part of the decison.

You obviously like learning, thinking and writing. You could easily spend a second entire lifetime on a writing career. Like that dividend stock guy…Derek what’s his name? It could easily become a source of income.

]]> By: MM http://blog.canadian-dream-free-at-45.com/2007/11/20/doing-the-impossible/comment-page-1/#comment-1702 MM Tue, 20 Nov 2007 17:14:30 +0000 http://blog.canadian-dream-free-at-45.com/?p=281#comment-1702 CT, I think you're slightly off in idea of early retirement. I think CanadianDream's and most early retiring hopefuls are not so much about leaving the workplace to sip margaritas on the mexican riviera all year. The idea of early retirement is all about freedom to live the life that you want rather than being forced to work for a pay cheque to pay bills. Everyone who is setting these goals may be optimistic but I also believe they are realistic. They have realistic goals set forth to achieve success. No one is under the impression that life will be without stress or setbacks. The most important word to realize is "Freedom" not retirement. CT,

I think you’re slightly off in idea of early retirement. I think CanadianDream’s and most early retiring hopefuls are not so much about leaving the workplace to sip margaritas on the mexican riviera all year. The idea of early retirement is all about freedom to live the life that you want rather than being forced to work for a pay cheque to pay bills.

Everyone who is setting these goals may be optimistic but I also believe they are realistic. They have realistic goals set forth to achieve success. No one is under the impression that life will be without stress or setbacks.

The most important word to realize is “Freedom” not retirement.

]]> By: Alex Givant http://blog.canadian-dream-free-at-45.com/2007/11/20/doing-the-impossible/comment-page-1/#comment-1701 Alex Givant Tue, 20 Nov 2007 16:16:08 +0000 http://blog.canadian-dream-free-at-45.com/?p=281#comment-1701 It was excellent analogy in "Total Money Makeover" by Dave Ramsey (http://www.amazon.com/Total-Money-Makeover-Financial-Fitness/dp/0785289089/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1195574835&sr=8-1). He is talking about science experiment with monkeys: they put monkeys in some deep place which they cannot climb from and the only way to get out was to climb the pole. As any monkey tried to do that, guy with water hose washed the monkey down. After a while they get an idea it's pretty stupid to try to get out: you cannot do that and get cold shower instead. So as any other monkey tries to climb up, other monkeys pull it down. Now interesting part: they take one monkey out and put new one in (this one doesn't know about cold shower). It tries to climb up, but other monkeys pull it down. Now, one by one they replaced all the monkeys. All those monkeys have no idea about what prevents them to climb up, but as soon as one try to do that, other stop it. Now, back to people world: somebody says you that debt cannot be paid down or you cannot retire at 45 - he is a monkey who know nothing about cold shower, but won't give you to climb up! Don't listen to him! It was excellent analogy in “Total Money Makeover” by Dave Ramsey (http://www.amazon.com/Total-Money-Makeover-Financial-Fitness/dp/0785289089/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1195574835&sr=8-1).

He is talking about science experiment with monkeys: they put monkeys in some deep place which they cannot climb from and the only way to get out was to climb the pole. As any monkey tried to do that, guy with water hose washed the monkey down. After a while they get an idea it’s pretty stupid to try to get out: you cannot do that and get cold shower instead. So as any other monkey tries to climb up, other monkeys pull it down.

Now interesting part: they take one monkey out and put new one in (this one doesn’t know about cold shower). It tries to climb up, but other monkeys pull it down. Now, one by one they replaced all the monkeys. All those monkeys have no idea about what prevents them to climb up, but as soon as one try to do that, other stop it.

Now, back to people world: somebody says you that debt cannot be paid down or you cannot retire at 45 – he is a monkey who know nothing about cold shower, but won’t give you to climb up! Don’t listen to him!

]]> By: CT http://blog.canadian-dream-free-at-45.com/2007/11/20/doing-the-impossible/comment-page-1/#comment-1699 CT Tue, 20 Nov 2007 14:30:43 +0000 http://blog.canadian-dream-free-at-45.com/?p=281#comment-1699 "After all when you are living your dreams, who cares what you drive?" I think looking at life as a quest to fulfill a dream can be somewhat limitting and misleading. A lot of people create a dream as a solution to their current problems, and see the their dream life as being unrealistically free of problems. Unfortuantely, its not usually that simple. In your case for example, how do you know that early retirement will make you happy? What if the novel you have been dreaming about writing all your life turns out to be terrible? What if its great but no one will publish it? I think plans and goals are important, but I think its also important not look at the future as some sort of escape from the present. I don't have any idea where I will be in 20 years or what my life will be like, but I know that every day I try to make my life better, be a good person, and most importantly enjoy being alive. “After all when you are living your dreams, who cares what you drive?”

I think looking at life as a quest to fulfill a dream can be somewhat limitting and misleading. A lot of people create a dream as a solution to their current problems, and see the their dream life as being unrealistically free of problems. Unfortuantely, its not usually that simple. In your case for example, how do you know that early retirement will make you happy? What if the novel you have been dreaming about writing all your life turns out to be terrible? What if its great but no one will publish it?

I think plans and goals are important, but I think its also important not look at the future as some sort of escape from the present. I don’t have any idea where I will be in 20 years or what my life will be like, but I know that every day I try to make my life better, be a good person, and most importantly enjoy being alive.

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