Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Jumped without looking a year ago
Old 01-21-2014, 11:03 AM   #1
Recycles dryer sheets
Louis2's Avatar
 
Join Date: Jan 2014
Posts: 54
Jumped without looking a year ago

Hello everyone. I am 51 and retired about a year ago. I have been reading these threads and decided I should start participating in the discussions!


A few facts about myself. I worked about 28 years as an engineer and project manager, eventually becoming an executive in a very large US company. My wife is 49 and still works with reasonable health insurance. She is in no hurry to quit. We have two daughters aged 21 and 23 who will both finish school in the next year. (Both are projected employable! and we are lucky no student loan debt thanks to -529 plans.) We also have a wonderful new golden retriever puppy.


We have always lived well within our means and have healthy savings, both IRA and post-tax. FIRECALC says we are good for 100% of scenarios. I am a big proponent for avoiding debt like the plague and paying yourself first.


I have made plenty of mistakes though, so plenty of soft spots for the group to enjoy.
- - I did buy a variable life policy five years ago without doing my homework. By the time I looked into the details, I calculated that I was better off staying with it. I revisit and agonize this decision every six months!


- - I do have part of my money with a financial advisor paying 1% annually for the last couple years. Since the market has done so well it hasnít seemed painful, but I know the difference that 1% could make over time.


- - Most of all, though I always planned financially for early retirement, I did not plan ďsociallyĒ. When my buyout offer came in 2012, I jumped on it without really knowing how I would spend my time in retirement. Totally unprepared. I talked to a lot of people, but didnít know many in my situation. Found sites like this one and others, SLOWLY figuring out how I want to live now. I wish I had been better prepared.


Anyway, sorry for the long introduction and Iím not asking any specific questions today. I just wanted to introduce myself before joining in on the threads.
__________________

__________________
Louis2 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-21-2014, 11:17 AM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,403
Quote:
Originally Posted by Louis2 View Post
...When my buyout offer came in 2012, I jumped on it without really knowing how I would spend my time in retirement. Totally unprepared...
Someone has written that one needs something to retire to, not just to retire from.

You have plenty of time (pun intended) to figure that thing out, although with spouse still working, that kind of rules out things a couple can do together such as travel.
__________________

__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   Reply With Quote
Old 01-21-2014, 11:26 AM   #3
Thinks s/he gets paid by the post
Ready's Avatar
 
Join Date: Mar 2013
Location: Southern California
Posts: 1,823
Welcome to the forum Louis2!

From reading your intro, I'd say you planned things out about as perfectly as could be. Retired at 51, health insurance covered by DW's policy, no debt, 100% success in Firecalc...Outstanding!!!

Just enjoy the free time and allow yourself to slowly be introduced to new interests and hobbies, and don't feel like you need to rush to fill up your time with things. For someone who has been busy their entire life, sometimes just having a few slow moments to enjoy is the best thing that can happen for you.

Thanks for the intro and look forward to seeing you on the discussion threads.
__________________
Ready is offline   Reply With Quote
Old 01-21-2014, 04:55 PM   #4
Thinks s/he gets paid by the post
Live And Learn's Avatar
 
Join Date: Feb 2012
Location: Tampa Bay Area
Posts: 1,689
Welcome to the forum Louis2. You'll have plenty of company here. I wouldn't fret about not knowing how to spend your time at the moment - I'm sure you'll figure it out !
__________________
"For the time being no discipline brings joy, but seems grievous and painful; but afterwards it yields a peaceable fruit of righteousness to those who have been trained by it." ~
Hebrews 12:11

ER'd in June 2015 at age 52. Initial WR 3%. 50/40/10 (Equity/Bond/Short Term) AA.
Live And Learn is offline   Reply With Quote
Old 01-21-2014, 08:21 PM   #5
Full time employment: Posting here.
SumDay's Avatar
 
Join Date: Aug 2012
Posts: 799
Welcome to the forum. There is more to retirement planning, than just the $$$, isn't there? I've still got about 4 years to go, and frankly it makes me nervous. My FireCalc also gives me 100%, but I think the "not working" thing will be tough on me too. I look forward to hearing more from you - I like to learn from the experiences of others in similar situations.
__________________
SumDay is offline   Reply With Quote
Old 01-21-2014, 08:32 PM   #6
Thinks s/he gets paid by the post
Free To Canoe's Avatar
 
Join Date: May 2008
Location: Cooksburg,PA
Posts: 1,738
Quote:
Originally Posted by Live And Learn View Post
Welcome to the forum Louis2. You'll have plenty of company here. I wouldn't fret about not knowing how to spend your time at the moment - I'm sure you'll figure it out !
Welcome Louis2! I kind of did it the same way. Economic opportunity knocked and I answered.
__________________
Free to canoe
Free To Canoe is offline   Reply With Quote
Old 01-21-2014, 09:31 PM   #7
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 10,142
Welcome aboard, Louis2. I'm interested to hear how you progress.
__________________
Living an analog life in the Digital Age.
Gumby is offline   Reply With Quote
Old 01-21-2014, 10:39 PM   #8
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 1,495
Quote:
Originally Posted by Louis2 View Post
Hello everyone. I am 51 and retired about a year ago. I have been reading these threads and decided I should start participating in the discussions!


A few facts about myself. I worked about 28 years as an engineer and project manager, eventually becoming an executive in a very large US company. My wife is 49 and still works with reasonable health insurance. She is in no hurry to quit. We have two daughters aged 21 and 23 who will both finish school in the next year. (Both are projected employable! and we are lucky no student loan debt thanks to -529 plans.) We also have a wonderful new golden retriever puppy.


We have always lived well within our means and have healthy savings, both IRA and post-tax. FIRECALC says we are good for 100% of scenarios. I am a big proponent for avoiding debt like the plague and paying yourself first.


I have made plenty of mistakes though, so plenty of soft spots for the group to enjoy.
- - I did buy a variable life policy five years ago without doing my homework. By the time I looked into the details, I calculated that I was better off staying with it. I revisit and agonize this decision every six months!


- - I do have part of my money with a financial advisor paying 1% annually for the last couple years. Since the market has done so well it hasnít seemed painful, but I know the difference that 1% could make over time.


- - Most of all, though I always planned financially for early retirement, I did not plan ďsociallyĒ. When my buyout offer came in 2012, I jumped on it without really knowing how I would spend my time in retirement. Totally unprepared. I talked to a lot of people, but didnít know many in my situation. Found sites like this one and others, SLOWLY figuring out how I want to live now. I wish I had been better prepared.


Anyway, sorry for the long introduction and Iím not asking any specific questions today. I just wanted to introduce myself before joining in on the threads.
Welcome. I've recommended this elsewhere, and it's a book that helped me tremendously in thinking about/preparing for the non-financial aspects of retirement (quite generous with excellent suggestions for further reading): "What color is your parachute for retirement?" by John N. Nelson and Richard E. Bolles. Nelson gathers latest retirement research on all retirement aspects from universities in the book. I liked it very much.
__________________
Options is offline   Reply With Quote
Old 01-22-2014, 01:10 PM   #9
Recycles dryer sheets
Louis2's Avatar
 
Join Date: Jan 2014
Posts: 54
Thanks for all the welcoming words!

I've made good progress in figuring out what to do with my days over the last year. My wife sill works, so I've assumed most of the household stuff including cooking a "real" dinner at least 2-3 times a week. Cooking is MUCH more satisfying when you have time. I've also started some volunteering work (drive car pool a few days for a boys home, a United Way allocations panel, small things at church). Along with golf, fishing, and my new puppy, I keep just busy enough.

But as with every stage in life, I don't think it is about any one answer. I think most people keep changing and learning over time, so the right answer today might be the wrong answer in a few years. And I'm ok with that!! I know my "60 hours a week and never away from my phone" self wouldn't even recognize my retired self! I look forward to swapping experiences and philosophies with others here!
__________________
I reserve the right to change my mind as I get smarter.
Louis2 is offline   Reply With Quote
Old 01-29-2014, 11:42 AM   #10
Thinks s/he gets paid by the post
38Chevy454's Avatar
 
Join Date: Sep 2013
Location: Cincinnati, OH
Posts: 1,583
I think you have s good grasp on what you are experiencing and therefore can adjust. You do need some activities to do, not just household stuff, but the volunteering and other outside the house plans. Have any hobbies that you can do more on? How about spending time to learn more about your investments and becoming self-directed instead of the financial adviser. Consider it paying yourself!

Since you have the financial worry taken care of based on your FIRECalc results, time to get the emotional side taken care of.

I am in similar situation as you, with some differences. But I am still deciding when to make the transition from work to retired. I look forward to the day I no longer have to go to work. I have a lot of hobby and house activities to keep me busy, just working the financial end of things.
__________________

__________________
After Monday & Tuesday even the calendar says, W-T-F...

Semi-Retired 7/1/16: working part-time (60%) for now [4/24/16 changed to 80%]
Retired Aug 2, 2017; age 53
38Chevy454 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
LTC Premium just jumped 35% Koolau Health and Early Retirement 19 06-03-2009 06:56 AM
Greetings: Already Jumped in with Both Feet BobM Hi, I am... 7 06-08-2007 01:31 PM
41 and retired a year ago... magellan_nh Hi, I am... 22 10-09-2006 02:36 PM
Just a few hours more than a year ago... cute fuzzy bunny Other topics 30 01-26-2006 12:44 PM

 

 
All times are GMT -6. The time now is 02:53 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.