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18 months to go
Old 01-07-2007, 03:34 PM   #1
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18 months to go

Another long time lurker here. A bit about ourselves. DH and I are both 44, residents of California. We are planning on pulling the plug in June 2008. At that time we will move back to our native Australia, main reason being free medical. If we were to stay in the US we would face a retirement age of 65 as DH has two medical conditions which would probably mean we would not be able to get insurance, or if we did it would be outrageously expensive. June 2008 is the target date for 2 reasons, it will be 2008 when DH will qualify for his 40 SS credits - yes we know it may not be around but if it is we want in on the action - and secondly I get paid my 2007 bonus in March 2008.

Current portfolio of $1.1 million is broken down as follows:

14% retirement funds - some in 401K, some in Australia
45% cash - some in US$, some in pounds sterling, some in Aust$
41 investments - mixture of mutual funds and direct stocks, some in Australian funds and some in US funds.

We have lived between US, Australia and UK the past 13 years, which explains the mixture of our holdings.

We do not own a residence in any country, sold our house in Australia in 2005. We have no children, just numerous family members who think it is our responsbility to act as their bank because they are unwilling to accept responsbility for managing their financial affairs in a smart way.

I know some here will cringe and not believe that the money we have is nowhere near enough to support us to the end of our life. However, by June 2008 we expect our $1.1m will be close to $1.4m. We are great fans of the Terrhorst method of retirement. The worst that can happen is we may have to work for 3 months of the year, which by any method of calculation is preferable to 12 months of the year.

It was December 2005 when I was toting up the figures that I realised we were closer to retirement than we thought. I immediately took to the idea, my father died at 58, my mother is in bad health at 65, I only have one grandparent who made it beyond their 60s, so if I am not going to be around for a long time I certainly don't want to spend any more time employed than I have to be. DH had a harder time adjusting, I think in part so much of his identity is tied to his job, whereas my employment has been sporadic due to work permits etc. Also he comes from a family of long-livers, ie. parents are in their 80s and alive, grandmother died at 95, so he can see a long road ahead. However, he has made great strides in the past year and becomes more enthused every day about the idea of throwing it all in.
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I be a girl, he's a boy. Think I maybe FIRED since July 08. Mid 40s, no kidlets. Actually am totally clueless as to what is going on with DH.
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Re: 18 months to go
Old 01-07-2007, 04:14 PM   #2
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Re: 18 months to go

If you currently have a nest egg in excess of 1M... I see no reason you can't retire in 2008. It may get a bit tight if you have to pay rent but that is a personal choice.

Welcome aboard!
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Re: 18 months to go
Old 01-07-2007, 04:28 PM   #3
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Re: 18 months to go

If Billy & Akaisha can do it, why not you two? A 1.4 million portfolio with free healthcare, I say go for it!

http://www.retireearlylifestyle.com/...nd_akaisha.htm
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Re: 18 months to go
Old 01-10-2007, 09:39 AM   #4
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Re: 18 months to go

Quote:
Originally Posted by DangerMouse

I know some here will cringe and not believe that the money we have is nowhere near enough to support us to the end of our life. However, by June 2008 we expect our $1.1m will be close to $1.4m. We are great fans of the Terrhorst method of retirement. The worst that can happen is we may have to work for 3 months of the year, which by any method of calculation is preferable to 12 months of the year.
Hi DangerMouse....Happy New Year.

I'm curious....what is the Terrhorst method of retirement? I did a quick search and couldn't find any information. I don't know what the COL is in Australia, but the free medical should help. Best of luck to you.
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Re: 18 months to go
Old 01-10-2007, 10:49 AM   #5
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Re: 18 months to go

Quote:
Originally Posted by Dog
I'm curious....what is the Terrhorst method of retirement?
http://www.geocities.com/TheTropics/Shores/5315/
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Re: 18 months to go
Old 01-10-2007, 01:51 PM   #6
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Re: 18 months to go

D Mouse
If you have enough depends on your expenses. Run those through firecalc and see if it works. I seem to think that with medical care, 50 grand a year ought cover the bases.
On the health front, keep living healthy (I thought all those in Australia were always active, outdoors, and eating right--although not too crazy about your beer )) and you just might be around a bit more than you thought
Tio z
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Re: 18 months to go
Old 01-13-2007, 12:08 PM   #7
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Re: 18 months to go

Nords, thanks for the answering my question by providing the link. Probably another book I should read, although I'm not one that would consider living outside of the US.
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Re: 18 months to go
Old 01-13-2007, 12:22 PM   #8
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Re: 18 months to go

Thanks for the warm welcome everyone.

Dog52, I did download Billy & Akaisha's book and just listening to their interview in Thailand reinforced to me that I would rather be doing what they are doing they going thru the motions of work every day.

TioZ, I am going to assume you have based your comments on Australian beer on an experience with Fosters. YOu should know we only export it because no-one in Australia will drink it. If you want to try a great Australian beer get yourself a Cascade. DH's medical problems are those that are not caused by his actions/inactions which is unfortunate as that would mean we could do something about them.
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