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Old 07-07-2011, 09:13 PM   #21
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Thanks for the reply, Amfox1. I completely understand your rationale for not wanting to go in-house at this point.

As for your weight loss, congratulations. Going in-house allowed me to get into great shape and stay that way. Retirement will likely be just as kind (if not more) to you. If I were in your shoes, I would see how far I could take myself to get into great shape, since it gets much more difficult the older you are.
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Old 07-07-2011, 10:58 PM   #22
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Originally Posted by amfox1 View Post
Leon44 - It's a funny thing, but the closer I get to ER, the more supportive she is about it. It took a while to convince her that this was in everyone's best interest, but she's now there (and thinking about all the ways this will benefit her as well). Part of the reason for doing this is to allow her to work with fewer distractions. She sacrificed a chunk of her career to raise our kids and support my work, and now it's time to pay that back.
My wife was on board as well when I ER'ed a month ago. I had been planning for ER for many years and she was happy that I was realizing my dream. She also liked the fact that I would do all of the housework and grocery shopping and car maintenance, etc. However, (again, with only 30 days into this new phase) I don't think she is quite as excited about this as she thought. She has been pretty quiet since my ER, so I think the reality of it all has upset her a bit. We took a short vacation last week, and when we got home, she went back to work - I didn't. I'm sure that as we settle into a rythym it will become easier to live with. Just want to point out that minds can change, so be aware. I for one, am not bragging to my DW how great this ER thing is. I'll let some time pass before I do any of that.
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Old 10-18-2011, 08:16 PM   #23
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Here is my most recent quarterly update (a bit late).

Still looking at an anticipated ER date in the first quarter of 2012 (class of 2012). I'm looking at a likely range between the end of January and the end of March.

I've made it through my latest quarterly heath checkup with flying colors and intend to provide notice after a full physical in mid-January, assuming no change. My DW continues to be supportive and is taking concrete steps vis-a-vis her career based on the expectation that I will FIRE early next year.

Financially, we still remain on track, despite the market downturn, and we are in the process of refinancing our mortgage at lower rates while I am still employed.

I continue to ponder post-FIRE life. In the short-term, greater inclusion into day-to-day affairs and some other family obligations will keep me busy. I have recently re-started a hobby in anticipation of post-FIRE, but I will need to continue to think about how I spend my time outside of family obligations.
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Old 01-26-2012, 04:20 PM   #24
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Here is my most recent quarterly update (a bit late again).

I intend to give notice early next week, effective as of March 1 (class of 2012).

I've been checking off boxes. Refinancing mortgage, check. Full physical passed, check. DW spoke to her boss to make sure her job is secure, check. Financial plan for immediate post-RE, check.

Last box is to tell the kids, and I expect that to happen by the end of the weekend.

I continue to ponder post-FIRE life. As mentioned previously, in the short-term, greater inclusion into day-to-day affairs and some other family obligations will keep me busy.

I am going to take six months (through the end of the summer) to consider the next stage of my life. I am thinking more and more about doing some volunteer work in my community, but need to take some time off and really figure out what I want to do. Luckily, DW is very supportive.

I'll post again after I give notice and then update the class of 2012 thread.
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Old 01-26-2012, 04:31 PM   #25
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Wow, that is just a month away now! Congratulations!
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Old 01-26-2012, 08:19 PM   #26
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Last box is to tell the kids, and I expect that to happen by the end of the weekend.
Just curious. Your kids have no idea what you have been planning for the last year?
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Old 01-26-2012, 10:18 PM   #27
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Just curious. Your kids have no idea what you have been planning for the last year?
Told the kids tonight.

Short answer - they suspected something was going on but not that I would be leave my job entirely. After quickly being assuaged that their lifestyle was not going to change, my 14 year old wanted to wager that I would be bored within 3 days. I told him not to make that bet.

We did not tell our kids before all the boxes were checked because it is not the sort of thing they would be able to keep secret for long and we felt it would be unfair to put them in that position.

BTW, I went back to the initial post, which was made approx. 13 months ago and updated the numbers in red. Pretty good projections, I think.

Quote:
We expect to be in the following financial situation in 12 months:

Liquid assets - $3.25mm (assumes no 2011 investment return), of which $2.25mm will be in non-retirement accounts and $1mm will be in retirement accounts. Actual: $3.29mm

Other assets/debts - $500k, most of which is the equity value of our real estate. No debt, except for mortgage (which is netted off already). Actual: $564k

Kids (ages 14 and 12) assets set aside for college - $232k (assumes no 2011 investment return. Our budget (discussed below) includes additional monies contributed for college and expenses in sufficient amount to finance four years of college for each kid, based on roughly $55-60k per year. Actual: $235k

***

Spending - we track our spending carefully, and it has averaged approximately $200k per annum. In other words, we are assuming net spending of $115k for the next 10 years, $200k for the following 14 years and $155k thereafter. We are savers by nature and I have little doubt that we will spend less than what was conservatively budgeted. Actual: Through refinancing and other means, we've been able to budget additional expense savings, so we're at $110k, $180k and $130k.
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Old 01-27-2012, 03:23 AM   #28
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Congratulations!
Enjoy what is coming and take over enough of the tasks at home to make DW see every day that your ER is beneficial for her, too.
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Old 01-27-2012, 08:40 AM   #29
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my 14 year old wanted to wager that I would be bored within 3 days. I told him not to make that bet.
That must be a reoccurring theme. After we FIREd, whenever we talked with my son, he would ask if we were bored yet. (somewhat in jest.)

He stopped asking this after a few months. He could never reach us. We were always off in some cell dead zone chasing after waterfalls, or had the phone off while we were entertaining friends, or being entertained by friends.

Enjoy your hard earned time to come.
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Old 01-31-2012, 03:50 PM   #30
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I gave notice this morning, effective as of the end of February (class of 2012).

Lots of congratulations and well-wishes, sprinkled with questions about what I expect to do next and admiration for my gutsiness in leaving without somewhere to land.
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Old 01-31-2012, 04:08 PM   #31
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Feels good, doesn't it. A little scary, but feels real good. Been there!!
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gave notice this morning
Old 01-31-2012, 06:28 PM   #32
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gave notice this morning

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Originally Posted by amfox1 View Post
I gave notice this morning, effective as of the end of February (class of 2012).
Congratulations, this is it!
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Old 02-01-2012, 11:36 AM   #33
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Congratulations!
Thanks for sharing your experiences.
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Old 02-27-2012, 01:19 PM   #34
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Two more days to go. Drafted my farewell email over the weekend and took my personal effects from my office. Office files are nearly complete and working on transitioning the last two work matters. It finally hit me over the weekend that FIRE is really happening. I am very excited.
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Old 02-27-2012, 02:56 PM   #35
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Two more days to go. Drafted my farewell email over the weekend and took my personal effects from my office. Office files are nearly complete and working on transitioning the last two work matters. It finally hit me over the weekend that FIRE is really happening. I am very excited.
Very cool! Best of luck.
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Old 02-27-2012, 03:00 PM   #36
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I'm a new member and I've enjoyed this thread so much ! I'm very happy for you and I have no doubt that you will be able to fill your time with meaningful events.
Congratulations !!!! YOU MADE IT !!!!
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Old 12-01-2012, 02:03 PM   #37
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See below update.

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My wife and I are 44 years old and I am planning for ER in 12 months. I ER'ed 9 months ago and just turned 46.

We expect to be in the following financial situation in 12 months: It's been 23 months since this post and here is an update on where we stand.

Liquid assets - $3.25mm (assumes no 2011 investment return), of which $2.25mm will be in non-retirement accounts and $1mm will be in retirement accounts. We are at $3.45mm, of which $2.29mm is in non-retirement accounts and $1.16mm is in retirement accounts. Our projection for the end of 2012 was $3.30mm.

Other assets/debts - $500k, most of which is the equity value of our real estate. No debt, except for mortgage (which is netted off already). Other assets are $460k, which is a result of monetizing some illiquid assets as part of the ER process.

Kids (ages 14 and 12) assets set aside for college - $232k (assumes no 2011 investment return. Our budget (discussed below) includes additional monies contributed for college and expenses in sufficient amount to finance four years of college for each kid, based on roughly $55-60k per year. College assets for kids (ages 15 and 13) are at $267k and are not included in the above numbers.

***

Portfolio - our portfolio has been professionally managed for the last five years, and it has provided market returns with below-market risk. We have assumed 4% returns for non-retirement funds and 5% returns (and 35% tax rate on withdrawals) for retirement funds. We have consolidated our portfolio at Vanguard and we are managing it. Our portfolio has returned 9.9% through 11/30.

***

What to do in ER - that is the $64k question and the one that keeps my wife up at night. She is afraid that I will not have interaction with others while she is working and will spend my time in front of a screen. I expect to spend a good portion of the next 12 months trying to answer the question, including spending time on this site. I'm still working on this, but I'm in no rush. Ski season begins next week.
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Old 12-04-2012, 07:11 AM   #38
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Congrats amfox1!!! Nice to win the game eh? I'm 42 and am also planning ER at or around 45, so it's nice to see another one in my expected age range make the leap!
Keep us posted on how it's going!

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Old 12-04-2012, 08:10 AM   #39
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I can't say my personal details are a lot like yours. But, the title of this thread could have been written by me and about me back in 2007 when I was 44 and watching the pieces of my ER plan fallling rapidly into place that year and in 2008, leading up to my ER in November, 2008.

I hope you can share my "Retired at 45" claim before you turn 46.
From a fellow early retiree at age 45, I congratulate you at being able to make the claim I hoped you would be able to make back in July of 2011.
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Old 12-04-2012, 08:51 AM   #40
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I also really enjoyed the original post and appreciate the followup. Really awesome to see a successful plan come to fruition. Congratulations.
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