42 – Considering Retirement Now

[CaseInPoint]

Greetings.

I’m 42, and at a fork in the road.

Married with young children, young house, middle-aged business.

Considering a transaction that would enable me to retire now, if that’s the direction I ultimately choose.

I hope to gain some perspective here, from people in a similar situation.

[kevin92610]

welcome aboard!

hard to know your exact situation from your post. I think you would get a lot more useful advice if you don't mind sharing more specifics of your situation and what type of insights you are looking to gain.

I retired at 40 with 3 kids spread from elementary to high school. In my opinion, how well you make the change to retirement largely depends on your priorities and what sort of activities you have outside of work. Personally, I jumped into my kids lives, volunteering at their schools, coaching, etc. The first year can be a bit rough as you find your way but after 6 years I can tell you I don't regret the decision to retire. You can always go back to work... you only get one chance to raise your kids.

regards, Kevin

[Maurice]

I'm 39 and resigned from my job last month. Next Friday is my last day. I consider this stepping into ER - I'll take at least 9-12 months off then decide if I'm done for good or if I want to put in a couple of more years. I'd say there's a better than 50% chance I'm done for good.

[Donzo]

You have already heard from a couple guys that bailed at your age - and they seem to be doing just fine! I jumped at age 49 - my job had slowly become toxic to me and was going to effect my health. Fortunately I had enough saved and was able to get health ins. at an affordable rate.
How is your nest egg? Do you have health ins. lined up? These are obviously the 2 most basic questions concerning your decision to jump or stay aboard.
Good luck and welcome.

[CaseInPoint]

Originally Posted by kevin92610

welcome aboard!
I retired at 40 with 3 kids spread from elementary to high school. In my opinion, how well you make the change to retirement largely depends on your priorities and what sort of activities you have outside of work.

Thanks, Kevin. I replied with more detail in the Life after FIRE section. I have very few time-consuming interests outside of work and parenting.

With 2 kids in elementary school, it turns out that on top of the battle of getting them ready for school in the morning, preparing dinner, homework, stories, special time, brushing teeth, non-stop entertainment, etc., etc., my wife and I wind up showing up at their schools 15-20 times a year for holidays, class plays, parent-teacher stuff, and a host of other events.

Honestly, as much as I love my kids, I'd like to reduce my day-to-day child-care duties, and can't wait for them to become more independent as they get older. Meanwhile, I count down the minutes until their bed-time.

It's almost worth the rent for an office just to have a reasonable excuse to get out of the house...

Originally Posted by Maurice

I'm 39 and resigned from my job last month. Next Friday is my last day. I consider this stepping into ER - I'll take at least 9-12 months off then decide if I'm done for good or if I want to put in a couple of more years. I'd say there's a better than 50% chance I'm done for good.

Right, it will be interesting to see if you're ready for permanent retirement or just to take a break. Probably a lot will be dictated by finances.

Originally Posted by Donzo

You have already heard from a couple guys that bailed at your age - and they seem to be doing just fine! I jumped at age 49 - my job had slowly become toxic to me and was going to effect my health. Fortunately I had enough saved and was able to get health ins. at an affordable rate.
How is your nest egg? Do you have health ins. lined up? These are obviously the 2 most basic questions concerning your decision to jump or stay aboard.
Good luck and welcome.

Thanks. I definitely would not consider ER unless I'd be very comfortable financially. I think that going into it with guaranteed financial stress would defeat the purpose of retirement for me.

I'm encouraged to hear from guys my age that they're happy with ER, and appreciate your response.

[REWahoo]

Originally Posted by StJohnsWood

Hate to take over this thread and I am sorry for doing it.

Start a new one.

[CaseInPoint]

Originally Posted by REWahoo

Start a new one.

REWahoo,
What happened to StJohnsWood's post? I'd be interested in reading it. Did you move it somewhere? Please provide a link or redirect...

[REWahoo]

Originally Posted by CaseInPoint

REWahoo,
What happened to StJohnsWood's post? I'd be interested in reading it. Did you move it somewhere? Please provide a link or redirect...

Looks like he deleted it.

My comment was meant to be a recommendation that rather than worry about hijacking a thread, just go ahead and start another one. Hope he does.