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done today with full-time banking.
Old 03-15-2013, 01:55 PM   #1
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done today with full-time banking.

Today is my last day in full-time corporate banking. I was very pleased to stumble upon this site of like-minded folks. I appreciate any insight you may have. Iím 48 and will be leaving to do part-time contract work (banking and seasonal tax prep) on a glide path towards full retirement in a few years. DW is 52 and will retire in early September of this year. We have accumulated $750k in taxable investments and $825k in retirement accounts. We have no mortgage and no kids. I plan to use funds within an HSA account to pay cobra insurance premiums for 18mos. After that period weíll buy private health insurance on the new exchanges. We recently sold a real estate property to our business partner on a contract, which will provide $20k/year for 10 years. We will also receive $200k from a family business over the next 5 years, which will be added to taxable investments. With this income and my part-time employment we should cover most of our expenses without tapping investments before I fully retire. Our annual expenses run $60k. FIRE Calc works out to 100%.
I canít wait to start the next chapter. We lost my father last summer and Iíve lived ~ 2k miles from family for 22 years. Losing Dad was a sobering reminder that life doesnít wait while youíre considering making a move. So DW and I are moving back to my home state to be closer to family and life-long friends. Weíre very excited about the move despite all the work of selling/buying houses, etc. I look forward to sharing more and learning from you good folks as the year progresses.
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Old 03-15-2013, 02:03 PM   #2
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Heartiest congratulations!


Looks like you're embarking on phase one of your greatest adventure.
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Old 03-15-2013, 02:40 PM   #3
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Great news, enjoy!
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Old 03-15-2013, 03:26 PM   #4
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Congratulations and best wishes.
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Old 03-15-2013, 04:30 PM   #5
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Welcome aboard. Sounds like a solid plan. I'd ask what you plan to do in retirement, but your chosen forum handle speaks to that. Nicely done...
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Old 03-15-2013, 04:39 PM   #6
Confused about dryer sheets
 
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Thanks all for the replies. Yep, I'll be doing more fishing this summer than I've done in decades. Three months in MT June - Aug while DW is still working. I'll be in charge of cooking, cleaning and grilling when not fishing 😀.
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Old 03-15-2013, 04:43 PM   #7
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Congratulations from a fellow "banker" - you picked a great time to exit, with all the added reg's coming.
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Old 03-16-2013, 07:40 PM   #8
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Congratulations and welcome ! I look forward to hearing about your next chapter.
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Old 03-16-2013, 08:19 PM   #9
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Welcome! It sounds like you have a great summer planned. No issue about what to do all day at all.
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Old 03-17-2013, 10:05 PM   #10
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Great Plan....Another Banker here and I understand. It's not as much fun anymore. Get out while you can. Best of luck and enjoy the fishin'
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Old 03-18-2013, 09:17 AM   #11
Confused about dryer sheets
 
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Thx for the hearty welcome. Good to hear from several other bankers. I wish you all well. First day w/out banking and we're driving to Sun Valley to x ctry ski for 5 days. This will be the longest ski trip I've taken with my DW. Day one of many more to come.
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Old 03-18-2013, 09:38 AM   #12
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Quote:
Originally Posted by Fly Fisher View Post
Thx for the hearty welcome. Good to hear from several other bankers. I wish you all well. First day w/out banking and we're driving to Sun Valley to x ctry ski for 5 days. This will be the longest ski trip I've taken with my DW. Day one of many more to come.
Sounds like fun. Do enjoy, hope it is one of many.
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Old 03-18-2013, 06:08 PM   #13
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Congratulations and welcome.
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Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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