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Old 03-14-2015, 05:28 PM   #21
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I will repeat what I have said before, you may have a job to retire from, but what do you have to retire to? I think that is where you are reluctant, the unknown financial aspects and at least in your orig post, don't say what you want to do (besides get out of working). We all can use a goal, or something to strive for. Retirement is a great goal, but only if you have plans to do things to keep busy and be happy. Lot of definitions of what being happy and what level of busy is. You can define those yourself.
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Old 03-14-2015, 07:18 PM   #22
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Originally Posted by daylatedollarshort View Post
Welcome from a fellow wiener dog fan. I had one growing up.

Can you downshift instead of going cold turkey on the job? Can you work part-time or do contract work? Any hobby jobs you might enjoy that could still bring in an income?

I have several little hobby jobs that I can do from home part-time and that is working out to be a nice balance for me.


I wish I could do the slow wind down and do last time where I am but the job is full time and also requires travel, some international, so PT would not work. But I do think there are options that are PT that I would do so thanks for the idea, it might be a better way to exit.


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Old 03-14-2015, 07:19 PM   #23
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Originally Posted by EastWest Gal View Post
Run Firecalc. Do a budget and figure out your spending. Hang out here for awhile. I joined this group 13 months ago and within a month I knew I didn't just want to retire; I HAD to retire.

Besides, if you're in healthcare, there's such demand you will not have a problem going back, even freelancing, part time.


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When you say "had to retire" what to you mean, if you are willing would you share more?


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Old 03-14-2015, 07:20 PM   #24
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Originally Posted by petershk View Post
Facing the same anxiety.

From what I can gather if you run the numbers in several ways and they look pretty solid... You will most likely delay longer and after a couple years wish you hadn't.

I found it helpful to post my financial specifics and get a quick evaluation from people here.

I suspect that advice is very good so you could try that as well.

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I think I will post my numbers here this weekend, thanks!


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Old 03-14-2015, 07:22 PM   #25
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Hi Irishgal. I don't have a wiener dog, but I also play ice hockey. I retired a little over 2 years ago four weeks after turning 57.

I strongly encourage you to take the plunge. I too had fears about all this, as I left a pretty high paying job, but like you, the numbers were "there" that I was FI and could do it.

Taking the final step was still hard though - I still recall my hand shaking somewhat before I clicked "Send" on the e-mail I had composed telling my bosses and HR that I was retiring. But everything since then has been great, and I am so, so glad I left when I did and did not fall into the OMY syndrome as befalls many.

As my last words of encouragement, if you are playing hockey at 56 then I know you can handle fear. After all, we face that every time out on the ice, right? FIRE won't be perfect, and every once in a while you will get knocked down to the ice, but being a hockey player, we just bounce right up, catch our breath on the bench, and are ready for our next shift. Corny as that might sound to the non-hockey players on here, the analogy fits (as you know).

Good luck !

Larry


Only a few more hockey players and we will have a team!

I agree, reality is that my anxiety is more driven by, well, the fact that I worry a lot than by the numbers.



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Old 03-15-2015, 05:16 PM   #26
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Okay here goes. I don't have as much as a lot of people here so I feel poor lol.

1.4MM and some change in a Bernstein portfolio. 2013 returns were 12.4%, 2014 4.8% and YTD 4.0%

Despite that my siblings and I tell my parents to stop, mom and dad give the max the IRS allows as gift yearly, so 28k per year, when one dies it will be 14k, and eventually there will be a minimum of 1MM for each kid. Parents are very comfortable relative to getting older and have great care so they are not taking away from their needs to give the kids money. (I still feel guilty as heck).

My expenses, and I'm adding 800 per month for healthcare (I've not yet bought the policy but of course will lose employer sponsored plan when I bail) are 3k monthly. I've got a mortgage, no credit card dept, both cars are paid off (2010 Cayman and 2014 Ford Edge).
So mortgage, gas bill, electric and all that rot, health insurance, groceries, fun stuff, and some pad is only 3k monthly.

I know there will be expenses that are unseen, home repairs, vet bills, but I'm also going to be cutting way back on things (no more Christian Louboutin shoes lol).

Ok I feel like an idiot putting all that out there I'm afraid I'm going to fail.


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Old 03-15-2015, 05:28 PM   #27
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Originally Posted by irishgal View Post
Ok I feel like an idiot putting all that out there I'm afraid I'm going to fail.
The only thing in your post that comes remotely close to qualifying for that "i" word is feeling poor with a nest egg of $1.4M. Unless you do something really stupid you've got the financial side of retirement made.
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Old 03-15-2015, 06:42 PM   #28
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The only thing in your post that comes remotely close to qualifying for that "i" word is feeling poor with a nest egg of $1.4M. Unless you do something really stupid you've got the financial side of retirement made.

Hahaha thanks for the smack upside the head.
I worry that so how I will still end up homeless living under a pier eating discarded fish bait.
😇


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Old 03-15-2015, 07:10 PM   #29
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I'm thinking that a s l o w e r slide into RE might be in order. Do check out the suggestion about a parttime job. You are already il in' pretty lean but you could see how you would live on your projected retirement budget of it is much lower.
Your dogs might like fish bait diet, mine always did. Just don't let them roll in it.
Seriously, I think you need to initially get away from the stress and then see what you really want to do.
Bon Chance!
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Old 03-16-2015, 08:49 PM   #30
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Ice hockey is now out because of my back, but I am stretched out on the edge of the couch because my Dachshund is hogging it.
Quite surprised that there are so many of these ferocious rodents mentioned though.
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