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I turn 55 today, and FIRE on Thursday!
Old 03-20-2017, 08:01 AM   #1
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Location: Middletown
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I turn 55 today, and FIRE on Thursday!

Well, actually I'll semi-retire. Is FIsRE (or FISRE, FISE?) an acronym around here?

I have 33 years with Megacorp, all the same one. I was a college hire and after Friday my vacation will run until June 25; which is 33 years to the day since I joined the company. I'm an engineer and rose to a VP level, but it became clear a few years ago that I was not on track for a senior executive level. You see, I have a life outside of the company.

After June I'll remain an hourly employee of Megacorp on an on-call status. We'll see how that goes, or I might hang out a shingle and do some part-time consulting. I'm done with 60-hour weeks and 50%+ travel, but do want to stay engaged in my industry.

Financially we did well and we are not big spenders, so all of my bonuses and DW's income pretty much went into our portfolio. Investing has been a hobby of mine since 1985, so I'm self-managed. Neither DW nor I have pensions, so it is the portfolio and SS for us. We did pay off the house in January, which will help cash flow a lot.

I've been lurking on early-retirement.org for about 3 years now, just absorbing the wisdom, the ideas, the worries, and the inspiration. My other inspirations are much the same as folks here:
  • FIRECalc and now ORP,
  • Clyatt's "Work Less, Live More",
  • Zelinski's books,
  • Ferri's "AAAA" - he's working on a 3rd edition,
  • ER blogs, and
  • Original papers (e.g., Bengen, Trinity Study, etc.).

My concerns are also reflected throughout these forums, things like:
  • The transition from 60-hour work weeks to leisure - will I get bored, miss the social aspects of work, etc.
  • Portfolio performance going forward with high current valuations
  • Managing AGI and taxes

On these I"ll continue to learn from e-r.org and other sources, and am confident all will be well.

Regards,

USGrant1962
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Old 03-20-2017, 08:16 AM   #2
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Happy birthday and enjoy!
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Old 03-20-2017, 08:21 AM   #3
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Congrats! I retired 2 yrs ago at 55 and have never regretted a minute of it. Wish you the same!
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Old 03-20-2017, 08:32 AM   #4
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Awesome! Congrats, very good planning. After being engaged with w*rk for so long, you may have an adjustment period, but that's expected. Enjoy. I hope to be joining the ER early 2018.
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Old 03-20-2017, 08:38 AM   #5
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congrats - scratching my head on 33 years with mega and no pension?
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Old 03-20-2017, 08:39 AM   #6
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Congrats
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Old 03-20-2017, 08:47 AM   #7
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congrats - scratching my head on 33 years with mega and no pension?
I'm a bit surprised about that myself. Most of the biggies didn't stop their pensions until the past 10-20 years. I took the lump sum at my mega, but could have had a pension even though they had frozen contributions before I left.

Well, no matter. Congrats on your ER, and I hope you enjoy it even half as much as I have. Best decision I ever made.
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Old 03-20-2017, 08:48 AM   #8
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Originally Posted by Big_Hitter View Post
congrats - scratching my head on 33 years with mega and no pension?
Pensions are not common in my industry, but we have a very good 401(K) - it matches dollar for dollar up to 6% and adds a profit-sharing contribution. So between me and the Company I've been putting away ~20% of my base salary for 30 years.
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Old 03-20-2017, 11:21 PM   #9
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Happy birthday and congratulations!!
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Old 03-21-2017, 03:14 AM   #10
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Happy Birthday and congratulations.

I retired about 4 years ago and am an engineer much like yourself. There will be an adjustment, but you'll do fine. The first year, I was all velocity and no vector. I settled a bit after 10 months or so.
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Old 03-21-2017, 04:52 AM   #11
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Happy Birthday and congratulations! I retired four years ago this month and love it! The sound of the ocean as I wake up each winter or early spring morning is worth it. Soon headed back to PA for the late spring, summer and fall months with lots of travel planned.
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Old 03-21-2017, 07:38 AM   #12
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Happy birthday and congratulations. I'm one year behind you.
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Old 03-21-2017, 07:45 AM   #13
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Originally Posted by USGrant1962 View Post
Well, actually I'll semi-retire. Is FIsRE (or FISRE, FISE?) an acronym around here?

I have 33 years with Megacorp, all the same one. I was a college hire and after Friday my vacation will run until June 25; which is 33 years to the day since I joined the company. I'm an engineer and rose to a VP level, but it became clear a few years ago that I was not on track for a senior executive level. You see, I have a life outside of the company.

After June I'll remain an hourly employee of Megacorp on an on-call status. We'll see how that goes, or I might hang out a shingle and do some part-time consulting. I'm done with 60-hour weeks and 50%+ travel, but do want to stay engaged in my industry.

Financially we did well and we are not big spenders, so all of my bonuses and DW's income pretty much went into our portfolio. Investing has been a hobby of mine since 1985, so I'm self-managed. Neither DW nor I have pensions, so it is the portfolio and SS for us. We did pay off the house in January, which will help cash flow a lot.

I've been lurking on early-retirement.org for about 3 years now, just absorbing the wisdom, the ideas, the worries, and the inspiration. My other inspirations are much the same as folks here:
  • FIRECalc and now ORP,
  • Clyatt's "Work Less, Live More",
  • Zelinski's books,
  • Ferri's "AAAA" - he's working on a 3rd edition,
  • ER blogs, and
  • Original papers (e.g., Bengen, Trinity Study, etc.).

My concerns are also reflected throughout these forums, things like:
  • The transition from 60-hour work weeks to leisure - will I get bored, miss the social aspects of work, etc.
  • Portfolio performance going forward with high current valuations
  • Managing AGI and taxes

On these I"ll continue to learn from e-r.org and other sources, and am confident all will be well.

Regards,

USGrant1962
Congrats, and come back often to update!
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Old 03-21-2017, 08:26 AM   #14
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Congrats, sounds like you're all set and I'm sure you'll find plenty to fill your free time.
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Old 03-21-2017, 08:31 AM   #15
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Congratulations and Enjoy!
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Old 03-21-2017, 06:03 PM   #16
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Congrats and welcome to the rest of your life!
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Old 03-21-2017, 07:02 PM   #17
Confused about dryer sheets
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Congrats, and come back often to update!
As I left work tonight I sent a farewell email to 60+ coworkers. I've already received 9 responses, all positive and encouraging. More encouraging than my portfolio today! It's OK, I have free-board until I get down to 100% success, with a bunch of conservative assumptions on top of that.

And people are buying me drinks both tomorrow and Thursday night. I should early retire more often.
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Old 03-22-2017, 11:50 AM   #18
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Hey Grant - Congrats.
My plan is to go out at age 55 as well. That's 3 years from now.
Many of same concerns especially the shift from work-intensity to low-intensity.
Keep posting and let us know how the transition goes.
Enjoy!
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