Another Delurk

[Russell]

I'm not sure what finally prompted me to delurk since I have been reading this board for well over a year without posting; but, here I am. This is the the first on-line community that I have ever felt any real urge to join, possibly because I continue to find you all to be both informative and entertaining. And, I do want to express my sincere gratitude for both.

A bit about myself: I am mid-to-late thirties, male, single, living in the mid-west, and have been w*rking as a database application consultant (computer geek) for the last 15 years. This combination, along with a healthy dose of LBYM and rising markets, has resulted in a net worth of just under $900k (which would have been significantly more had I accepted the wisdom of William Bernstein et al much earlier in my life).

I had decided that this, 2007, was going to be my last year of normal w*rk: I was sick of the corporate IT world and had determined (with a certain amount of confirmation from reading numerous posts here) that my portfolio was already enough to maintain my current lifestyle ($24K-$26K/year sans health insurance); so, I was planning to just continue my current contract until it was ended for whatever reason (budget cuts, end-of-year, etc.) and then take some time off either as a long sabbatical or actual ER (with the possibility of some very short term contracts here and there).

But, an offer came along a few weeks ago that I could not pass up. So, I am probably going to be postponing my retirement plans for at least a couple more years. I am hoping that I will both enjoy my new engagement and be more comfortable with my retirement plans once I have padded my portfolio with a couple more years of income and [hopefully] gains. While I am definitely enjoying the time that I have taken off between ending my last contract and starting this new position, I am also actually looking forward to getting started in my new j*b.

I guess I had better end this before everyone gets tired of reading. Now that I have actually said hello, you may see me joining in various discussions around this site.

Thank you all again for providing me with so much enjoyment over the last year.

[bbbamI]

Welcome!

You have done extremely well....you have to share your tips with the rest of us.

[Nords]

Welcome to the board, CoolChange. Sounds like you're all set.

Those unrefusable offers are a lot easier to handle when you're FI, eh?

[Masher]

Hello CoolChange,

I am a newly unlurked user as well. I think I was in your shoes about 2003. I had roughly the same amount in liquid assets...however I spent a little more than you do, especially when I added in insurance costs. I decided to chug on for a little while longer and really focused on saving and investing over that time. Slightly over 4 years later and I am up from 900K to 1.6M. I now could live my current lifestyle with the addition of carrying my own health insurance as well as adding in amortized costs such as a new car or house repairs and still maintain a 3.5% withdraw rate. Looking back, I am glad I have stuck it out a bit longer.

I will be 40 in under 3 years and I figure I can stop working anytime between now and then. The sense of freedom that FI gave me has made work so much more bearable. I take more time off, I don't make the diving catch at work anymore, I speak my mind and just have a better attitude in general. If anything I am more appreciated at work because of it?!!?! (think Office Space).

Anyway, I think you are on the right track. That extra few years will scream by and you will really appreciate the extra cash you get from it. If you are currently living on under 30K a year then every extra bit not only adds safety, it gives you more luxury since its all above your basic costs of living.

One other thing I wanted to mention that I am in the process of doing. Create a list of all the things you need to take care of before retiring. Plot it out over the upcoming months so you have a reminder every month that you are working towards leaving. For example, I need a new roof...I would like to get that done before I pull the trigger. So, in May I have 'get new roof' on my list. I also have 'talk to insurance broker','change email address', 'investigate cheap broad band (company currently pays for mine', etc.

Good luck!

[REWahoo]

Originally Posted by Masher

Create a list of all the things you need to take care of before retiring.

In case you missed it, here's a thread on that very subject in "Best of the Boards".

[Russell]

I just wanted to say thanks for the welcome notes as well as responding to them.

bbb,
I don't think that I should be the one giving you advice. If I remember correctly, you and/or your spouse managed to stick it out long enough to get the pensions and medical benefits. That alone is probably worth more than my current portfolio. But, since you asked, I have basically just worked hard and saved most of what I made for most of my adult life. With some good fortune and planning, I did find myself in an occupation that pays well if you can handle all that goes with working in a Fortune 500 information technology (IT) shop. Finally, for better or worse, I did choose career over family: No spouse or children for me. (This was probably a good choice given my generally introverted nature.)

Nords,
If I could only remember where I read the quote: When men plan, God laughs.
When I finally stopped looking for the perfect j*b and decided that I can get by without a steady one in my life, one that seems to be built to order shows up on my radar screen.

Masher,
Thanks for the insight. And, I agree completely with the Office Space reference. At various times during both of my prior contracts, I made the decision that I was calling it quits when the contract ended. So, I started doing less and less work by delegating my various responsibilities to employees and other long term contract staff. While this infuriated my peers at times, it seemed to make me MORE valuable in the eyes of my management chain.

REWahoo,
Thanks for the link. I had seen it; but, it never hurts to refresh my memory. I do think my preparation is a little different than most here though. My current high level plan after retirement (always subject to modification) is to establish residency in Mexico (where I already vacation a couple of times a year) and then spend time exploring Mexico as well as most of the Central American countries in a style somewhat similar to the Terhorst's and Kaderli's.

[bbbamI]

Shucks...there goes that working hard and lbym thing again. We have been pretty fortunate I guess. We decided not to have children many years ago and I believe that decision enabled us to stash more cash. Hmmm, that could be another thread....spouse and or children help/hinder retirement.

DH has been in IT for (gasp) 31 years. I sincerely hope he can make it a couple of more years. The burn out is slowly taking its toll.