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Hi, JB from Madera
Old 04-05-2010, 02:01 PM   #1
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Hi, JB from Madera

Hi All,
JB here. I think I am retired, but Iím not certain. Hereís a brief overview of my story:

-50, married, with one child left to send off to college (1 yr to go)
-Worked in Hi Tech and Finance for most of my career
-Laid off from my past two companies, downsizing, serious doubts Iíll be able to land another gig
-Have $900k in investments, about Ĺ in IRAís, etc and 1/2 in taxable investments, no pensions, SS when 65.
-My wife moved into full time volunteer work about 1yr ago and it would take more than dynamite to get her back into the workforce!
-Have no debts, everything is paid for and the car/college/wedding funds for my daughter have been topped off.

So, my basic worry/concern is - if I canít find another job can I make it on my investments?

My other concern is - if Iím not working then who/what am I??

Would love folks input and suggestions.



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Old 04-05-2010, 02:18 PM   #2
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Have you tried using any calculators such as FIREcalc? (see link at bottom of page).

You'll need more information such as current and expected future expenses including health care costs before you can see if you have enough to live on for the next 40 years.

Once you determine if you do have enough to live on, or not, then you will know if you are retired or out of work looking for a job.

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Old 04-06-2010, 05:18 AM   #3
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I'd say it is definitely do-able to live off $27k per year (plenty of couples do) (3% draw of 900K) But the big elephant in the room is health care -- if you don't have a solution for that, then $27K with no health ins. is doubtful to me unless your extremely lucky for 15 years.
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Old 04-06-2010, 05:28 AM   #4
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thanks guys.

i have access, thru my former employer, to health insurance at a reduced cost. i'm still working with fire calc to see where i really am. i may end up going the ESR route since regaining full time employment in my field is almost impossible.

thanks again for your input!

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Old 04-06-2010, 06:27 AM   #5
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Good advice above--that nest egg could be more than enough or nowhere near enough, depending on your expenses, and you will have to live off it for twelve years until SS kicks in (assuming one can still take early SS in 2022) so it may also decline a little.

Having no debt makes it more likely you'll be successful--congrats on that, and welcome to the boards.
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Old 04-08-2010, 08:49 AM   #6
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Create a $3,000 per month retirement budget and you can retire today. As far as who and what you are if you retire? That's simple. You are a husband, father, and member of the community. Retirement is not only financial freedom, it's also freedom to be who you want to be, the freedom to follow your own path.

I think your wife has got it figured out. She is deeply involved in volunteer work, gaining more personal satisfaction than she ever did working, and maybe you should follow in her footsteps?
Do The World A Favor And Retire!
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Old 04-08-2010, 01:47 PM   #7
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great suggestion Green!

one of the women from the halfway house my wife mentors is here at our place with her kids enjoying the pool - most alive I've felt in years!
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Old 04-08-2010, 02:42 PM   #8
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Originally Posted by JBmadera View Post
My other concern is - if Iím not working then who/what am I??
Up near the top of the all-time great reasons this is the best Forum on the Internet is this thread:

How do deal with reaction to: "I'm retired" ?

"It's tough to make predictions, especially when it involves the future." ~Attributed to many
"In theory, there is no difference between theory and practice. But, in practice, there is." ~(perhaps by) Yogi Berra
"Those who have knowledge, don't predict. Those who predict, don't have knowledge."~ Lau tzu
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