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I am pulling the trigger on July 10th!
Old 06-29-2015, 02:09 PM   #1
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I am pulling the trigger on July 10th!

After spending 39 years in the IT industry, I have decided to FIRE at the age of 57. I will be living off of my ATT pension and a monthly withdrawal from a small company 401K till I hit age 59 1/2. That's when I start drawing from my IRAs to supplement the pension. I also have a retiree health plan. I won't go into the financials but it is doable thanks to my voracious savings over the years. No debt. My two kids are done with college. My wife may go next spring and do the same.

My whole working life has my brain been half filled with work stuff. When is this code due? What useless documentation is required for this project? What meeting do I have on Monday morning? How n the hell can I get that done by this ridiculous deadline?

Now that half of the brain is empty waiting to be filled with new adventures. Volunteering, bicycling, sporting events, travels, house projects and on and on.

I am so at peace now!
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Old 06-29-2015, 02:21 PM   #2
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Welcome to the forum and congratulations on your retirement.
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Old 06-29-2015, 02:38 PM   #3
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the next 2 weeks will fly by!
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Old 06-29-2015, 02:46 PM   #4
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Congrats. I'll be the same age next year when I get out. I've also spent my career in IT.
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Old 06-29-2015, 02:53 PM   #5
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Congrats, but too bad you couldn't pull it off 6 days earlier on Independence Day.
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Old 06-29-2015, 03:32 PM   #6
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Congratulations on the soon to be retired status. Living your life as you have enabled this day to get here now vs later. Have fun.
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Old 06-29-2015, 03:42 PM   #7
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Congratulations,
Thirty-nine years in IT, that's an accomplishment! Retirement is much more fun. Glad you are here.
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Old 06-29-2015, 06:57 PM   #8
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Congrats, I hope you continue to post here so that we can hear more about your experiences.
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Old 06-29-2015, 07:25 PM   #9
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What will you do all day?
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What will I do all day?
Old 06-29-2015, 07:55 PM   #10
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What will I do all day?

1. Volunteer at some local animal rescues.

2. I am attempting to complete all the bike rides in a book titled "50 Short Bike Rides in Connecticut".

3. Daily jog.

4. Exercise class at the YMCA.

5. Reading novels.

6. Many home projects to complete.

7. Work towards completing #Operation351. My lifelong goal is to attend a college basketball game at all 351 Division 1 campuses. I did 16 last year and started a blog to chronicle my travels

8. Traveling with my wife.

9. Complete binge watching Arrested Development, Cheers and Parks and Recreation.

10. Hiking the many beautiful trails in Connecticut.

11. I am the sole care provider for my 88 year old mother who lives 40 minutes away. I have many projects there as well.

12. Continue volunteering as a board member for the YMCA and local land trust.

And I'm just getting started....
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Old 06-29-2015, 07:56 PM   #11
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Thanks to everyone. I will be a regular poster here. I have learned much lurking over the past few months.
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Old 06-29-2015, 08:37 PM   #12
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welcome to the other side!
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Old 06-29-2015, 09:28 PM   #13
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Congratulations! Way to go... My personal target is July 2018.


Sent from my iPad using Early Retirement Forum
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Old 06-29-2015, 11:29 PM   #14
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Congrats! Since you were such a voracious saver in the past, I hope you
don't experience the difficulty in spending some of that hard earned
cash like I did when I first ERed.
Took 4 months before I started to adjust.
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Old 06-30-2015, 07:28 AM   #15
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Happy Independence month!
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Old 06-30-2015, 07:30 AM   #16
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Congratulations!
IT career here too... Target date of Feb 29th 2015.
Big Leap for me!
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Old 06-30-2015, 07:35 AM   #17
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I'm glad you're able to retire on your terms. My company "retired" everyone 55 years and older in 2008--overreacting to the downturn in the economy.


You'll soon realize you never had time to work anyway. I'm 6 1/2 years into retirement and have yet to catch up on all the Spring Cleaning. It's never ending.
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Old 06-30-2015, 12:06 PM   #18
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Welcome and congrats on your retirement.

We're going to run out of IT help with all the early retirees in that area that we hear about on this board!
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Old 06-30-2015, 12:37 PM   #19
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Yep it has been a long career.I have gone from punched cards on the old IBM 370 to laptops. A lot of IT knowledge is going down the drain as we dinosaurs exit for greener pastures.

Regarding expenses, my pension check covers all my fixed expenses plus an extra $150 left over. I figure that I will need a $1000 a month for beer, golf, dining, medical expenses, sporting events, beer, gas, beer and what ever is not covered as a fixed expense. I will draw from my company 401K which will allow me non penalized withdrawls because I am over 55. At age 59 1/2, I will start drawing on my IRAs. I also have an AMERIPRISE annuity (I know.. don't throw barbs at me) coming available at age 65.

I have no debt other than credit cards which I pay off each month.

I do something a little wierd with my paycheck. I have figured out the monthly costs for all my annual, quarterly and semi-annual bills. I put away money each month in subaccounts that represents my bills. So when the bill comes up, I will have the money in hand. One could make the argument that squirreling away for example the real estate tax of two payments each year for $3500 is not putting your money to work in the best way. However, I have peace of mine that the money is there. I could earn a little more with money market accounts or short term bonds but it is easy doing all of this in my credit union savings accounts which do earn a small interest rate.

I also use subaccounts for expected purchases down the road. For example, I get mulch for the yard every two years. I put away $15 a month for that.

I downloaded an app that keep track of expenses during the month offfset from an initial balance. I do this on the fly for cash stuff. I input my credit card expenses from QUICKEN afterwards. This is for expenses not covered by my pension and subaccounts. As I get closer to the $1000 budget for the month, I can have the option of avoiding some discretionary spending. As a reward to myself, any money left over at the end of the month goes to one of my VANGUARD accounts.


Large payment such as vacations will come from other savings that are not part of this.

This is my plan for expenses after July 10th.
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Old 06-30-2015, 01:22 PM   #20
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If you start missing the job after you retire, just have someone page you at 3am. I won't miss that.
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