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Can't Wait but Can't Imagine pulling the trigger
Old 07-22-2011, 07:51 PM   #1
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Can't Wait but Can't Imagine pulling the trigger

Hi all;

Have read some out here and glad I stumbled on this site. My wife, awesome as she is, gets a bit bored with the topic! I am going to be able to retire at 52 (although mindful of the fact that I truly don't know the future - it appears that way). I like what I do and will maybe do it until 57 or so. Would do it till the end if I didn't like travel, and especially wanting to spend months at a time in the Mountains. Most all of us could continue to work more and pad the account more...

I would appreciate any comments on how you all decided / are deciding to just simply stop the paycheck or padding the pension.

Conservative estimate is that I'll have 8 million by 52, 18 million by 57 if we keep on track... could be zero for that matter for sure!
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Old 07-22-2011, 08:42 PM   #2
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Hi all;

I like what I do and will maybe do it until 57 or so.
It sounds like you already know what you want to do.
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Old 07-22-2011, 08:50 PM   #3
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An extra 10 million in 5 years, you must be good at what you do.
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Old 07-22-2011, 11:50 PM   #4
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I'd wait until I was 61 and could afford to travel in my own private jet.
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Old 07-23-2011, 01:59 AM   #5
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I'd say don't count your chickens before they hatch...or maybe be even more conservative. I "was going to have" 2 million more than I have now by July 2009. Didn't work out that way. Stock options took a dive, I didn't heed the dive horn, and their value evaporated. Stocks took a dive. Megacorp profits took a dive, so my bonuses took a dive. I'm comfortable and consider myself FI now should I either choose to jump or be pushed, and things are pointed in the right direction. But, I keep holding on for three reasons: 1) I really would like to see my port value get to the target I had for mid 2009, and 2) I committed myself until end 2012, and 3) I can see negative impacts on the company if I pull the plug too soon (before succession plan is properly implemented).

BTW, curious how much you would have if you stuck it out until 48 or so, and could you retire on that? Also curious what you plan to do in the mountains of Wyoming, and what is your DW going to do while you are there? DW and I are looking forward to spending time in the mountains in the RV (yet to be acquired), visiting the kids (who currently don't live close to our home), working on fitness, cooking, landscaping our 2 acre place in California (we live in Tokyo until the end of 2012...unless I get "one-more-year syndrome"), and in general puttering around together.

Welcome to the forum!

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thanks for the feedback
Old 07-23-2011, 09:43 AM   #6
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thanks for the feedback

Rambler - you are spot on with the don't count your chickens... in fact that likely is why i'm still a bit indecisive here. when/if the payoff comes in i bet my perspective will change quite a bit. but yes i'm in the beginning of a 10-12 year buyout and so far so good. the company is is financial shape to effect that. we are growing at a rate that keeps increasing share value each year. but no doubt nothing is certain until it happens... i invented the 10 year option (i could do it in five) but feel while i may be giving up value by taking some out now at least I get some of it in my hands to diversify.

i could retire at 48, but i'd have to let the buyout occur without me in the company - which I really don't want to do. i'd like to be engaged through 100% of the buyout.

In wyoming - plan to backpack a bit through wind river range - just outside pinedale. plan to do a lot of day hikes around the jackson area in the Tetons too. just get to know the area in depth, smell the Columbine, enjoys the views. Have been wanting to do an RV vacation out west. Haven't pulled the trigger on that yet either.

Check out Titcomb Basin in the wind rivers for crisp clean air, great photo opps, etc.
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Old 07-23-2011, 10:17 AM   #7
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Originally Posted by Months.in.Wyoming View Post
....
Would do it till the end if I didn't like travel, and especially wanting to spend months at a time in the Mountains. Most all of us could continue to work more and pad the account more...

I would appreciate any comments on how you all decided / are deciding to just simply stop the paycheck or padding the pension!
We also love travel and hiking in hills and mountains.

Our decision was based as much on future health prospects as money. As soon as I thought we were financially secure, including health insurance, we retired to maximize our ability to travel and go hiking in our remaining healthy years.

PS
We are currently half way through a 6 month stay in the Yorkshire Moors.
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Old 07-23-2011, 11:41 AM   #8
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I'd definitely diversify if you can. You may be shaking your head at age 57 with "only" $10M, knowing you could've had $17M if you stayed the course, but you'll still be shaking your head in luxury. If things turn dramatically down, at 57 you may be telling yourself you could've at least had $2M or whatever if you hadn't been greedy, while putting your house up for sale and looking for another job. The former seems a lot more acceptable to me than the latter.

My decision to pull the trigger was easy. The company stopped giving stock options to the non-execs, and the ones I had were below or barely above water. I went from having an incentive of hundreds of thousands of dollars a year to stay on, to an incentive of hundreds of dollars a year to stay. There were other factors too, as a job shift was going to make it more difficult for me to continue working remotely, and that was the final nudge out the door. It's been 5 months for me and I haven't missed work one single bit.

It might've been a tougher decision had I continued enjoying the work and the money was still rolling in, but at some point there will be very little benefit to extra money and what you really want is time. You'll just have to ask when enough is enough and you want to be able to travel and enjoy your wealth in good health. If you can take a 3-6 month leave, that could help you see how you like the freedom or whether you are itching to get back.
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Old 07-23-2011, 01:03 PM   #9
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Originally Posted by Alan View Post
We also love travel and hiking in hills and mountains.

Our decision was based as much on future health prospects as money. As soon as I thought we were financially secure, including health insurance, we retired to maximize our ability to travel and go hiking in our remaining healthy years.

PS
We are currently half way through a 6 month stay in the Yorkshire Moors.
Agree, money ain't everything, especially if you're too old, or dead, to enjoy it. Nothing wrong with continuing to work if you like what you do, but you only have so much time before hiking in the mountains becomes difficult or impossible.

You'll never have enough money. 8 million is a lot, but just a few million more to make sure, then another few to really make sure. Lots of people get stuck in that trap. You need to take a chance. Lots of people are retired and living well on much less than you have. Much, much less.

Life is a risk. What's worse? Retiring and having to cut back a little due to the market or not retiring and possibly never getting to travel or spend time in the mountains?
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