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And so it begins...
Old 07-01-2009, 11:00 AM   #1
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And so it begins...

I have been lurking around the site for the last four months as I have prepared for this day. It has been very helpful in assuring me that yes, at 51, I am ready to begin that next stage.

Yesterday was my last day at my employer of the last 20 years. I gave them two years notice so that both of us would be ready for this day. My replacement was hired last December so I have been "practicing" retirement for the last few months. I will continue to be available to them on a "consulting" basis for the next 12 months but based on past experience this is more of a non compete than anything. I'm sure after a few phone calls I won't hear from them a whole heck of a lot.

Thanks to all of you who through your words and thoughts helped me confirm that there is life after work for those of us who have the luxury of calling it quits early.
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Old 07-01-2009, 11:19 AM   #2
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Welome to the ranks of ER -and active posting, longtime lurker!

Keep us posted how it is going, those in the know claim the first few months are the most difficult. I wouldn't know...
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Old 07-01-2009, 11:24 AM   #3
Full time employment: Posting here.
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Yay! Congratulations....so what are you going to do all day? hehe
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Old 07-01-2009, 11:25 AM   #4
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Congratulations RockyMtn!

I'm curious if the economic downturn between the time you announced your plan and your actual retirement was of any concern? So many people seem to have put off retirement plans in the last year.

I'm glad to hear that your employer actually took advantage of your long notice.

Have a terrific retirement!

Coach (down the road in Colorado Springs)
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Old 07-01-2009, 12:42 PM   #5
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Quote:
Originally Posted by Coach View Post
Congratulations RockyMtn!

I'm curious if the economic downturn between the time you announced your plan and your actual retirement was of any concern? So many people seem to have put off retirement plans in the last year.

I'm glad to hear that your employer actually took advantage of your long notice.

Have a terrific retirement!

Coach (down the road in Colorado Springs)
Thanks Coach. Yes the downturn was of a bit of concern to me, along with everyone else I'm sure. I was fortunate to have had a number of things going for me that played to my benefit and ultimately convinced me to go ahead with the planned date.

1. I've been highly overpaid...and not afraid to admit it...for a number of years.
2. I save religously, max my 401k's, IRA's and live well under my means.
3. Am well diversified.
4. Have the benefit of not one, but two company pensions (unusual I know) that I will be able to draw upon in the future.
5. Was the beneficiary of various SAR, RSU and profit sharing plans over the years.
6. Will do a bit of "consulting" over the next few years to keep my principal withdrawls to a minimum.
7. Have one son who enters college this fall with a healthy UGMA account that will handle his school expenses.
8. Took a valuation hit on my house (who hasn't) but never have really considered it as an investment and don't plan on moving anytime soon.
9. Have an ex wife who is no longer on the payroll.

As has been noted here in the past planning for your retirement is not something you can start in your 50's or even 40's. You need to start the day you begin your first job as time is your greatest asset. Best advice I ever received.
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Old 07-01-2009, 01:29 PM   #6
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Congratulations on your escape retirement and welcome
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