Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
47 FI on paper ER likely late this year
Old 05-12-2015, 09:55 AM   #1
Recycles dryer sheets
 
Join Date: May 2015
Posts: 123
47 FI on paper ER likely late this year

47; married; two kids in early 20s; DW works and enjoys it; I was laid off by megacorp a few months back - looking for work but may ER in Fall.

We had plans on retiring at 55, then 52, then 50. Then megacorp had a bad quarter and let folks go to help financial statement.

We've been saving for retirement for 20 years. I had an obsession in the early part of those years and relaxed some when we needed to spend more time with the growing kids. Bought used truck and camper and did some summer camping. Went on nice vacations as well.

Been using FinancialEngines forever to help plan my investments. Loved the related book and bought it for co-workers even. Used Quicken for 20 years; Used Quicken Financial Planner during it's life.

Reviewed financial plan with hourly based planner 1.5 years ago.

Purchased and pay maintenance on professional financial planning software for about 2 years. Golden Years MoneyTree product. They sell to individuals for 1/2 price. It is outstanding in it's flexibility and detailed reporting (read breakdown of spending by year). Known for being accurate on tax calculations (read no surprises). I've played-with and tried numerous online and downloadable tools (including FireCalc).

I follow various financial blogs. CanIRetireYet being just one. Mostly do low-fee mutual funds. Do LendingClub as well for just over a year after hundreds of hours of research and tweaking investment criteria.

Various hobbies including electric cars; genealogy; racquet sports
__________________

__________________
eroscott is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-12-2015, 09:59 AM   #2
Thinks s/he gets paid by the post
 
Join Date: Mar 2004
Posts: 1,988
Welcome, eroscott. Sounds like you'll fit right in here.

omni
__________________

__________________
omni550 is offline   Reply With Quote
Old 05-12-2015, 10:01 AM   #3
Thinks s/he gets paid by the post
gauss's Avatar
 
Join Date: Aug 2011
Posts: 1,712
You might like I-Orp too if you like year by year line item reports.

Aside from the kids (a big difference), your situation sounds quite similar to ours.

I have been striving for financial independence since I started working. Wife had a good paying job too and shared my savings/frugal approach (we spent all we wanted to be happy but no more). In my upper forties, management changed at my Megacorp - Mother needed major back surgery- and yours truly upon re-figuring his finances and actually taking into account SS decided I was over the top. Resigned in my late forties after megacorp stopped pension accruals - no longer a motivation to work 30 years when 22 years would yield the same retirement benefits. DW is still planning to exist the workforce in 2.5 years from now at age 52.

I have been FI-ERd now for abougt 4 years now and have never regretted my decision.

Keep up with the expense tracking. That was what allowed me to pull the plug when looking back at 15 years of data, I could see how much I was freely spending each year when I was unconstrained -- it was remarkably constant year to year.

-gauss
__________________
gauss is offline   Reply With Quote
Old 05-12-2015, 10:04 AM   #4
Recycles dryer sheets
 
Join Date: May 2015
Posts: 123
Quote:
Originally Posted by omni550 View Post
Welcome, eroscott. Sounds like you'll fit right in here. omni
Thanks for that. I belong to a few forums so spend my time bouncing around. This one is nice because people have some simularities and passions.

I find it hard fitting in and talking to people about ER when I'm 47. I mean I have a bunch of past co-workers, friends, and neighbors that are still working (and some in mid/late-50s). Some don't "know" when they will retire but spend a fair amount. We spend a fair amount now but only because of the position we put ourselves in an sacrificed to get here. Plus saved a lot in 401Ks and IRAs along the way.
__________________
eroscott is offline   Reply With Quote
Old 05-12-2015, 10:09 AM   #5
Recycles dryer sheets
 
Join Date: May 2015
Posts: 123
Quote:
Originally Posted by gauss View Post
You might like I-Orp too if you like year by year line item reports.

Aside from the kids (a big difference), your situation sounds quite similar to ours.

I have been striving for financial independence since I started working. Wife had a good paying job too and shared my savings/frugal approach (we spent all we wanted to be happy but no more). In my upper forties, management changed at my Megacorp - Mother needed major back surgery- and yours truly upon re-figuring his finances and actually taking into account SS decided I was over the top. Resigned in my late forties after megacorp stopped pension accruals - no longer a motivation to work 30 years when 22 years would yield the same retirement benefits. DW is still planning to exist the workforce in 2.5 years from now at age 52.

I have been FI-ERd now for abougt 4 years now and have never regretted my decision.

Keep up with the expense tracking. That was what allowed me to pull the plug when looking back at 15 years of data, I could see how much I was freely spending each year when I was unconstrained -- it was remarkably constant year to year.

-gauss
Thanks. Expenses are a big key. I don't think people really know their expense. CanIRetireYet has a nice document and I like You Can Retire Sooner Than You Think book details/graphs on it. Puts in in perspective.

We've used Discover for many years and it keeps a reasonable breakdown and pie chart. Obviously Quicken did too but we stopped using it a couple years back. So much is automatically done by aggregation sites/tools.

I started using PersonalCapital recently when investigating / helping friends get a more realistic handle on their expenses.

I've only played with i-Orp a little. GYs generates some great reports. I do like to do comparisons and that is one of the reasons we looked at a financial planner -- to make sure we were not overlooking something bad or good. (Financial planners -- hourly fees!!! ... you don't get a % of my AUM!!)

Trying to teach a lot of what I know to my kids in reasonable chunks. ROTH IRAs is a tremendous thing for the young.
__________________
eroscott is offline   Reply With Quote
Old 05-13-2015, 12:04 PM   #6
Recycles dryer sheets
swakyaby's Avatar
 
Join Date: Feb 2011
Location: Northern Cal
Posts: 229
Completely off-topic, what kind of electric car do you own, fellow enthusiast?
__________________
swakyaby is offline   Reply With Quote
Old 05-13-2015, 12:26 PM   #7
Recycles dryer sheets
 
Join Date: May 2015
Posts: 123
Quote:
Originally Posted by swakyaby View Post
Completely off-topic, what kind of electric car do you own, fellow enthusiast?
Volt; 45 miles in summer; 30 in winter; 9 gal gas tank after that so over 300 additional miles @ about 40 MPG. (FYI, details for other readers as you likely knew them).

Looking at a Tesla as a long term car to have during retirement (kid gets Volt to help them along in life). Saved a lot for it before I was laid off a few months back. Would do various roadtrips. Bed and Breakfasts along the way. SuperCharger (SC) highway (railroad it is sometimes referred to) being built fast. Chademo charging is option now (albeit slower).
__________________
eroscott is offline   Reply With Quote
Old 05-13-2015, 01:38 PM   #8
Thinks s/he gets paid by the post
 
Join Date: Feb 2011
Posts: 1,629
There has been Tesla sales office & service center in my area for some time. Very nice urban/suburban luxury sedan (if you have the $$$$). Owners seem happy when things are running well, but getting service, especially on the 'open road', could be a big issue in some areas. Most do not own one as their only car.

But main thing against it for road trips is still the range limitation vs conventional sedan. Just 270mi advertised max for 85D, and Supercharger still takes 30min for another 170mi of charge under OPTIMAL battery conditions (about 10% remaining charge), and much longer to top up the battery to full range. Charging is only max 15-30mi per 30min using conventional 110v or 240v outlets. (according to Tesla web site).
Supercharger | Tesla Motors
Tesla Charging | Tesla Motors
When I'm out doing 400+mi/day I generally make just one 10-15min pit stop (for fuel/snack/restroom). MUCH prefer to spend my time at my destinations rather than on the road. Spending that much down time charging (even IF I planned my routes around Superchargers), would be a non-starter. YMMV
__________________
ERhoosier is offline   Reply With Quote
Old 05-13-2015, 02:00 PM   #9
Recycles dryer sheets
 
Join Date: May 2015
Posts: 123
Quote:
Originally Posted by ERhoosier View Post
<snip>Supercharger still takes 30min for another 170mi<snip> Charging is only max 15-30mi per 30min using conventional 110v or 240v outlets. (according to Tesla web site).
Thing is for me/us is that we stop to eat, go to the bathroom, smell roses, etc when we travel. When not traveling or staying some place overnight w/charger you can wake up with a full tank. Even when at home it doesn't matter if it is a slow charge on 240v overnight because it happens when you are sleeping ... just like in my current Volt.

I'm on an hourly rate plan so cheaper at night. The Volt (and Tesla) have a built in scheduler so you can charge in the middle of night. Obviously, you don't buy a Tesla to save on gas money though!!
__________________
eroscott is offline   Reply With Quote
Old 05-13-2015, 06:00 PM   #10
Recycles dryer sheets
 
Join Date: May 2015
Posts: 123
Quote:
Originally Posted by eroscott View Post
<snip>
Been using FinancialEngines forever to help plan my investments. Loved the related book and bought it for co-workers even.
<snip>
Here is the book I was referring to. It comes with one year free use of their tool. Click different sections on the 1st link below to see details of what is in the book.

Title: The Intelligent Portfolio: Practical Wisdom on Personal Investing from Financial Engines.
Financial Engines - Investor Central

Sold on Amazon and other places:
http://www.amazon.com/The-Intelligen.../dp/0470228040
Quote:
In addition to the information outlined throughout this book, you'll also receive a fee waiver for a one-year investment advisory account at FinancialEngines.com, so that you may apply what you've learned here to your own investment endeavors.
__________________

__________________
eroscott is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
On Paper or On Screen (Paper or Plastic) RonBoyd Other topics 0 07-15-2010 11:27 AM
Best toilet paper and paper towels summer2007 FIRE and Money 59 12-04-2008 08:02 PM
Would you go a year without toilet paper? JustCurious Life after FIRE 66 06-04-2008 06:27 PM
Getting A Paper Paper? Danny Other topics 29 06-09-2006 06:03 PM
Hope for those who likely will have no pension? Susan Powell Young Dreamers 31 04-04-2004 05:43 PM

 

 
All times are GMT -6. The time now is 07:04 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.