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Hi, I am ... Out of here!
Old 04-01-2011, 05:02 PM   #1
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Hi, I am ... Out of here!

I keep meaning to introduce myself so hopefully late is better than never.

I married my college sweetheart back in 1977, the same year I started with megacorp as a programmer trainee. Back then we called it data processing, wore leisure suits, used punched cards, and had only 0's and no 1's to program with. I'm still in IT but have morphed into project management over the last few years as we no longer see development and programming as a core competency (or as cost-effective as using off-shore resources).

For most of my career I could not imagine ever wanting to retire, I enjoyed what I was doing so much. That has changed over the years, mainly as my job has changed. Now I am really looking forward to early-retirement at 55.

Monday I will announce to my boss that I will be retiring this summer. Exact date is TBD but should be mid-July to late August depending on how we handle vacation. 34 candles on the retirement cake by then.

There is, of course, that jumping out of an airplane feeling of apprehension that I'm sure I do not have to explain to most of you here. But I'm hoping to get over that by the time the void I leave back at Megacorp is filled.

Our retirement income will consist of drawing down on my 401k at a higher rate now and lower rate after we take SS which will be as late as possible. I do have a small cash balance pension for which I plan to do a cashout (rollover to 401k). I can only take half of it in cash because of funding levels, and will take the rest as 100% survivor to DW. Later if funding improves I'll have the chance to rollover the remainder.

We've tracked our expenses for a long time and have a pretty good idea of how we expect them to change in retirement. FIRECALC and other tools (I also like ESPlanner) show we should be fine based on expected drawdown and other parameters.

Megacorp currently offers subsidized retiree healthcare; hopefully that continues for another 10 years.

As with many here, I have a pretty simple portfolio utilizing low cost index funds, regular rebalancing, diversification, etc. It has worked out pretty well for us over the years.

DW has decided not to retire quite yet, though she is only part-time at her office and we are not depending on her income. She'll retire when the urge strikes or when they object to our vacation schedule.

I'll leave the "what will you do all day" for another thread since you all know that anyway!

This is a great group to be a part of. Thanks to everyone from the mods and admins to the full-time posters to the newbies for making this a fun and informative place to be. And yes Midpack, I posted to the Class of 2011 thread too.

Arnie
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Old 04-01-2011, 05:10 PM   #2
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Outstanding, welcome to the club...
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Old 04-01-2011, 05:23 PM   #3
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Good luck on your new adventure!
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Old 04-01-2011, 05:52 PM   #4
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Congratulations, Arnie! The time will fly and soon this summer will be here, and you will be retired.

Quote:
Originally Posted by Arnie View Post
There is, of course, that jumping out of an airplane feeling of apprehension that I'm sure I do not have to explain to most of you here.
The emotional adjustment to retirement was unusually easy for me, luckily, but I admit that I really do know what you mean. On my last day, the very last thing I had to do was surrender my badge. That was my "jumping out of the airplane" moment - - very hard to do and I felt a little lost and scared as I walked out to my car. Not to mention naked without my badge.

Then, I started the car and put both hands on the steering wheel and knew that finally I was in complete control of my life and how I spend my time (just as I was in control of my car). It's a great feeling.
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Old 04-01-2011, 08:39 PM   #5
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Arnie,

This is wonderful news! I am so happy for you! and yes, i want to know exactly how you spend your days.
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Old 04-02-2011, 12:10 AM   #6
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Congrats,
It is a strange feeling when you walk out for the last time.
But you will adjust,
Steve
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Old 04-02-2011, 01:46 AM   #7
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Your life will begin as soon as you walk out megacorp's door. The possibilities are endless! Enjoy your time as it goes very fast at this point.
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Old 04-02-2011, 03:10 AM   #8
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Congratulations Arnie. Hopefully you'll be like me, and that "jumping out of an airplane" feeling will evaporate the day after you retire.
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Old 04-02-2011, 06:04 AM   #9
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Thanks for the encouragement everyone. I've never actually jumped from a plane before, but I know I will enjoy the view once I do.
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Old 04-02-2011, 08:29 AM   #10
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Congratulations Arnie. I understand that feeling well. Lucky for me, I had a safe landing Just one question...who's the guy in your avatar?
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Old 04-02-2011, 08:45 AM   #11
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Congrats.... 55 is a wonderful age ;-) (too bad I have a few good years to go)
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Old 04-02-2011, 12:33 PM   #12
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Quote:
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Congratulations Arnie. I understand that feeling well. Lucky for me, I had a safe landing Just one question...who's the guy in your avatar?
Thanks. That is another Arnie born back in 1849.
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Old 04-02-2011, 02:20 PM   #13
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Thanks for taking the time to post the intro, Arnie. Good that your DW is working part time so you can plan travel around her schedule after you jump ship.

Retirement was sort of like bungee jumping--you put your faith that you've picked strong enough elastic bands, and off you go.
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Old 04-02-2011, 07:55 PM   #14
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Thanks for taking the time to post the intro, Arnie. Good that your DW is working part time so you can plan travel around her schedule after you jump ship.

Retirement was sort of like bungee jumping--you put your faith that you've picked strong enough elastic bands, and off you go.
I think DW enjoys the stimulation at the office (most of the time). Probably also the little extra cash. But maybe mostly not wanting to be with yours truly 24/7. I'd ask, but can I handle the truth?

Bungee jumping and sky diving are a couple of things that I think I would like if I had the courage to actually try. Fortunately I've checked my retirement "parachute" enough times to have faith in it so I know I can do this.

Have you ever bungee jumped (literally)?
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Old 04-03-2011, 08:50 AM   #15
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Congratulations on making it!

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Have you ever bungee jumped (literally)?
I never had the inclination to bungee jump or parachute, (Jump out of a perfectly good airplane? No way!) but I think acrobatics in an airplane is fun and I ride a motorcycle. But who ever said people are logical.
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Old 04-03-2011, 10:17 AM   #16
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Welcome ! I am afraid of heights so I could never jump out of an airplane but retiring was easy .
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Old 04-04-2011, 07:08 AM   #17
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Retired at 54 three years ago and don't regret it. I started with a lot of home maintenance items that had been ignored. I get to play a lot of golf and do things with my wife - a lot of short trips. Enjoy.
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Old 04-04-2011, 09:49 AM   #18
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CONGRATS Arnie! Well deserved.
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Old 04-04-2011, 05:36 PM   #19
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Thanks for the kind words everyone. I gave notice this morning ... seemed a little anti-climatic but nice to have it out of the way.
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Old 04-06-2011, 03:02 PM   #20
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Great Post Arnie. Hope you will keep us updated. I have not FIREd myself, but I am in the class of 2012 and I appreciate reading the experiences of others on the site as they (you) progress toward the Big Jump and freedom.
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