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Early Retired Age 50
Old 10-16-2014, 01:52 PM   #1
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Early Retired Age 50

Hello - I welcome thoughts and comments.
Early Retired this year at Age 50. Portfolio is $2,005,000, Invested 50/50 Stocks, Fixed Income (90% Fixed 401-k at 5.25%, 10% Bonds). Debt Free (incl. No Mortgage), Kids (2) Tuition fully paid and set aside. DB Pension starts Age 55 at $41,000 per annum, then goes to $101,000 Age 60 per annum. No COLA. Expenses (Real, many year track record) run $75,000 per year. Wife still works, another 5 years or so, and we keep her salary completely out of Financial Picture (Conservative and Fall back). Social Security (if around) states $24,000 per annum age 62.

Firecalc Scenarios 100% - with and without Pension. Thoughts?? Retiring so young always causes some anxiety!!!!
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Old 10-16-2014, 02:04 PM   #2
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I'd say you're in terrific shape. No reason for DW to keep working IMO either unless she wants to. You've got 3 solid legs on a stool. May want to delay SS until 70. Does DW get SS too or is that for both of you?
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Old 10-16-2014, 02:34 PM   #3
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You are just joking around on the anxiety part right?

Go pick your wife up at work and roam the world while you are young.

Congratulations, I'll join you in a few years when I am 50.


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Old 10-16-2014, 03:22 PM   #4
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Your DB Pension makes it an easy decision to take the plunge. Enjoy.
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Old 10-16-2014, 04:30 PM   #5
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Your DB Pension makes it an easy decision to take the plunge. Enjoy.
+1 - that's quite the bump up at age 60 you get!

Welcome!
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Early Retired Age 50
Old 10-16-2014, 04:51 PM   #6
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Early Retired Age 50

Yes DB Pension at age 55 is Non-Qualified portion, Age 60 is the Qualified Portion.
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Old 10-16-2014, 04:54 PM   #7
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WOW !! Enjoy now . I forget the movie where the pilot goes to his gilfriend's work and picks her up throws her over his shoulder and carries her out to enjoy the rest of their life together. Go for it!!!
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Old 10-16-2014, 05:21 PM   #8
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Stick a fork in you, you're done. Enjoy!
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Old 10-16-2014, 05:29 PM   #9
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WOW !! Enjoy now . I forget the movie where the pilot goes to his gilfriend's work and picks her up throws her over his shoulder and carries her out to enjoy the rest of their life together. Go for it!!!
Richard Gere and Debra Winger in An Officer and a Gentleman

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Old 10-16-2014, 05:29 PM   #10
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Trawler - I believe the movie is "An Officer and a Gentleman," starring Richard Gere and Debra Winger (1982). It's a good one!

mhitton2004 - Congrats and enjoy!


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Old 10-16-2014, 10:05 PM   #11
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Everybody is not able to do what you have ... as a matter of fact 90% of retirees can't do that .. you are Blessed
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Old 10-17-2014, 02:01 PM   #12
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Go for it. Enjoy life while you can still move! lol Congrats! I am retired and DH will be joining me at the end of January 2015.
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Old 10-17-2014, 09:09 PM   #13
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You nailed it. Congrats!
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Old 10-25-2014, 05:45 PM   #14
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Originally Posted by mhitton2004 View Post
Hello - I welcome thoughts and comments.
Early Retired this year at Age 50. Portfolio is $2,005,000, Invested 50/50 Stocks, Fixed Income (90% Fixed 401-k at 5.25%, 10% Bonds). Debt Free (incl. No Mortgage), Kids (2) Tuition fully paid and set aside. DB Pension starts Age 55 at $41,000 per annum, then goes to $101,000 Age 60 per annum. No COLA. Expenses (Real, many year track record) run $75,000 per year. Wife still works, another 5 years or so, and we keep her salary completely out of Financial Picture (Conservative and Fall back). Social Security (if around) states $24,000 per annum age 62.

Firecalc Scenarios 100% - with and without Pension. Thoughts?? Retiring so young always causes some anxiety!!!!

I am curious - since your ER how has your state of mind changed and are you overly worried about your nest Egg? I am 52, and plan to ER end of the year, but using a part-time cushion. Our numbers are not as good as yours, but our expenses are very low. FireCalc gave us 100% with every scenario. -- Nomad


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Old 10-26-2014, 09:29 AM   #15
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I am curious - since your ER how has your state of mind changed and are you overly worried about your nest Egg? I am 52, and plan to ER end of the year, but using a part-time cushion. Our numbers are not as good as yours, but our expenses are very low. FireCalc gave us 100% with every scenario. -- Nomad


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Nomad - Congratulations and go for it! My state of mind has changed causing me to be even more diligent over investment strategies and expense management. I focus on the fundamentals (e.g. diversification, budgeting, staying abreast of whats going on) because I believe the degree of uncertainties is higher then ever before and will remain this way. I too have a part time job, largely to keep me mentally and physically active. There are no guarantees so just enjoy it. Best of luck!
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Old 10-26-2014, 10:42 AM   #16
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Wow! It would cost near $2,000,000 to purchase an immediate annuity for someone age 55 for that amount.

I consider your portfolio then to be over $4,000,000 and you need $75,000, or a SWR of 1.9%

You could practically invest 100% in government bonds and be ok.
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Old 10-26-2014, 01:21 PM   #17
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Nomad - Congratulations and go for it! My state of mind has changed causing me to be even more diligent over investment strategies and expense management. I focus on the fundamentals (e.g. diversification, budgeting, staying abreast of whats going on) because I believe the degree of uncertainties is higher then ever before and will remain this way. I too have a part time job, largely to keep me mentally and physically active. There are no guarantees so just enjoy it. Best of luck!
So if you are still working part time and your wife works full time are you really in FIRE mode? You obviously are in great shape and don't need to work at all.

But you are still working and do not have peace of mind.

I am still trying to understand the true definition of FIRE.
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Old 10-26-2014, 04:58 PM   #18
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The only anxiety I see you should have is not being able to spend it all before you die. That is a good problem to have.
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Old 10-26-2014, 05:57 PM   #19
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The only anxiety I see you should have is not being able to spend it all before you die. That is a good problem to have.
Yes the OP is in" perfect world" territory to FIRE.
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Old 10-26-2014, 08:24 PM   #20
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Nomad - Congratulations and go for it! My state of mind has changed causing me to be even more diligent over investment strategies and expense management. I focus on the fundamentals (e.g. diversification, budgeting, staying abreast of whats going on) because I believe the degree of uncertainties is higher then ever before and will remain this way. I too have a part time job, largely to keep me mentally and physically active. There are no guarantees so just enjoy it. Best of luck!

Thank you! We are really excited, and I feel,like we're ready. I look forward to hearing more of your journey into FIRE. Please keep us posted - it really helps people like me, okay it really helps me, and probably a few other😄! --Nomad


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