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Old 09-27-2016, 08:13 PM   #41
Recycles dryer sheets
Join Date: Oct 2011
Posts: 66
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Goals for RE - grow cash/brokerage balance to $1.5 mil. Draw down over the next 15 years, in combination with megacorp pension at age 55. Continue the 401k contributions for next 1.5 years to get maximum company match, then let the balance grow for 15 years. No plans to return to w@rk after RE, but if needed will consider on a seasonal basis while kids are in high school.

Plans if market crash shortly before RE - plan for extended travel during summer 2018. If the international plane tickets haven't been purchased, then RE could be delayed until 2019 if there was a significant crash (greater than 40%)

Plans for market crash shortly after RE - would ride out the downturn by reducing discretionary spending, primarily extended travel (except for 2019 travel). If absolutely necessary, I could leverage 20 years of megacorp experience and return to megacorp as an Agency employee (hired by employment agency and not directly by megacorp). DW has very specialized legal experience and could get a consulting contract with minimal effort.

Kids expectations - our kids are generally aware of our RE goals. The only firm expectation we have given them is an extended family trip to France during summer 2019 for the Women's Soccer World Cup. That means our drop dead RE timing is June 2019. As for cars, they are saving for their car purchase/insurance. They will have to opportunity to buy our vehicles (150k miles) at trade-in value, where they will know the vehicle history. The alternative is to try their luck at local car lots or Craigslist.

In general, undertaking RE seems to be a very large 'leap of faith'. While we may never have the opportunity to earn this much money again, we only have a few full-time years left with our kids and we want to make the most of that time.


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Old 09-27-2016, 08:43 PM   #42
Recycles dryer sheets
Join Date: Oct 2011
Posts: 66
For the question about how we 'stayed the course' over the years. I have had a relatively short professional career of 22 years with two years 'off' to secure my MBA. DW has had a slightly shorter professional career.

Like most on the board, we have a strong LBYM mindset. We have used my take-home pay to run the household and have used DW pay for debt reduction and investing.

The hardest part of the RE journey has been last 1-2 years, since we have started to accumulate a significant amount of cash/brokerage funds. Thoughts about taking a one year sabbatical compete with buckling down for 1.5 years to reach the our RE goals sooner. We are working on the buckling down option, but an unending increase in work responsibilities has been hard to handle. However, once we RE we don't expect to ever return to w@rk again which is what keeps us going every day.



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