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Old 05-10-2014, 06:59 AM   #21
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Biker4life; Very interesting. I always enjoy a string where time has elapsed and the OP's plan evolves. You sure seem on course. I have never seen the NW tracking website you use before. I can understand your trepidation in anticipating your big dive off a cliff next year. I'll bet though that you have a soft landing. You seem too industrious not to reinvent yourself in a new endeavor that generates income.
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Old 05-12-2014, 01:41 AM   #22
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Quote:
Originally Posted by Golden sunsets View Post
I have never seen the NW tracking website you use before.

Try this link - typed wrong one above: https://www.networthiq.com/people/biker4life
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Old 05-12-2014, 01:53 AM   #23
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Try this link - typed wrong one above: https://www.networthiq.com/people/biker4life

1.60M Stocks -Taxable account
0.50M Cash - taxable account
0.55M Deferred compensation, taxable upon retirement -
0.55M 401K/IRA/Roth IRA
0.22M house (fully paid)
0.15M DW's retirement IRA/Roth
0.13M DW's investment condo (cash flow neutral)
=========
3.7 M current Net Worth

Kids college funds: 0.21M
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Old 06-16-2014, 10:58 PM   #24
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https://www.networthiq.com/people/biker4life
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Old 07-29-2014, 05:04 PM   #25
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July 2014. update - 11 months and counting down to FIRE... Also turned 45. !!

1. Hopefully stay on track to retire before my 46 th birthday.

2. Spent a few weeks vac in June at proposed home-base retirement location and the stress melted away. Know it's getting to be FIRE time - suddenly I needs reading glasses and have some arthritis in my finger joints too. Damn. Getting old on top of it all.

3. Also had a chat with my boss today about my thinking and timeline.

4. So. Now to stay motivated. Not sure how to do that as my mind keeps wandering in those BS corp staff meetings about what's next.

5. I think I need to focus a bit more on my own what's next in the off hours. Big changes ahead. And I have a small business idea that I am sort of itching to develop into a biz plan and evaluate more fully

6 The plan month by month

August 2014 - Jan 2015 . - Biz as usual

Feb - March - transition to backfill

April-June 2015 - Burn vacation and older son graduate HS

July 1 2015 - target FIRE.

7 That should put me retired right before I turn 46 with one kid graduated HS and hopefully on to college...and one kid finished with freshman year of HS.

8 Hoping to work out some form of separation package even if small one - could use to repair the house or help pay for college tuition for my kids. Let's see..

Thanks for letting me share and write down my goals. That study about writing down your goals is spot on target.

http://www.dominican.edu/academics/a...chsummary2.pdf

And I learned today it didn't come from Harvard in 1953 or Yale in 1979 too.
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Old 07-30-2014, 06:24 AM   #26
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Cool study.
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Old 09-19-2014, 05:50 AM   #27
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I am helping my 79 YO dad die this week. Took the week off to spend Final days of hospice with my sis by my dad's side. Glad we were able to have our last goodbyes with sound mind and clear conscious. Thank technology for a face time chat with him last week that was a deep and important conversation.

Dad and I were estranged for several years - due to his money issues and how that impacted our family. We patched it up the last decade or so. Really for my kids at first. My wife helped us sort things out and am glad we did get back to good terms.

No pain. No disease in fact. Just the past year he wanted to be done. Maybe a bit of dementia or depression but really it was just not wanting any more chapters in his book. I am cool with that ...

So here we are. No tubes. No needles. Just at his own home in his own bed in his small single wide trailer. It's actually damn cool he is exiting this world ... doing it his way.

Reflecting - There was a lot that I did not respect in his life but he has been a good dad - supported his kids endeavors and while the money decisions were lousy at best he always did it with the intention of helping us not hurting us. I get that now. I did not get it then. He has been an awesome grandpa to my kids too. So thanks dad ... And respect all the things you did right or wrong !!

Why this has to do with ER: He is dying completely broke and well in debt. He was the very opposite of what everyone says one should do to plan a retirement future. He had spent down what he had saved and had nothing the last few years aside a low paying job , social security and tiny small pension. His approach to money and to retirement was always the motivator for me to plan mine differently. That said, he was happy in his existence and worked a job nearly full time - one that he enjoyed until he stopped working a year or so ago. I guess some gifts aren't really noticed til later in life.

Maybe he was smarter than us all ... Dying broke that is ... I don't know. It's a bit surreal but I was compelled to post this. Don't know why I am posting other than maybe to let out a little bit of my own sadness and grief.

Mega corp was supportive and I dumped a big project on some colleagues so I could be here. It was of course the right answer.

With his passing at any time now, I am more resolved than ever to retire early. Life is short.

And so I end with a tear in my eye as I say dad's favorite phrase: Life is good !

Peace to all.
Biker4life.
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Old 09-20-2014, 12:04 PM   #28
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Biker4life,

Touching tribute to your dad. It's hard to reconnect after a cutoff, you obviously did the right thing.

Accepting your dad's good and not so good attributes is so important. My dad apologized late in life for the things he did wrong. When he said that, he also mentioned 'he did the best he knew how to'. I believe that, he lost his dad at age 11, other than his mom who had to provide for her 3 kids (in 1929), he had no role models. Our last conversation we both admitted to our character defects, and forgave each other.

I hope his journey remains peaceful. Your dad is correct: 'Life is good'

Sent from my SAMSUNG-SGH-I337 using Early Retirement Forum mobile app
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Old 09-20-2014, 12:35 PM   #29
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Biker4life -
I am so glad you were able to reconcile with your dad and spend time with him this week. I hope his passing will be peaceful and as pain-free as possible.
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Old 11-03-2014, 12:57 AM   #30
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Update - November 2014. Starting to look at new work assignments - backup plan / OMY syndrome... The contract runs out middle 2015.

Still getting over the loss of my father. The family feels a bit of a void -it's not the big things - it's the little stuff: he was an upbeat person and I keep noticing all the "things that he used to enjoy" .... healing process.... no doubt.

https://www.networthiq.com/people/biker4life


1.94M Stocks -Taxable account
0.40M Cash - taxable account
0.60M Deferred compensation, taxable upon retiremt @ effectively 38% tax
0.57M 401K/IRA/Roth IRA
0.22M house (fully paid)
0.15M DW's retirement IRA/Roth
0.13M DW's investment condo (cash flow neutral)
=========
4.01 M current Net Worth (before taxes)

Others:

Kids college funds: 0.22M
Present value @ lump sum of Megacorp pension: 0.10M
SS @ 67 ~$1500/mth
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Old 02-22-2015, 04:16 PM   #31
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Update. Feb 2015. No change in work status. Contract ends mid 2015. Have looked around a bit but nothing certain or cemented.

Two stress points. One is where to tell DS where he/we will be living come fall 2015 when he starts his sophomore year of HS. A move post contract is very likely. Hard to keep him in limbo.

Other concern now is my mom is in assisted living and that's expensive. With the sale of her primary residence, her biggest single asset, along with some investment accounts and IRAs she has enough money for maybe 5 years in AL. She has been in not so good health (C survivor, stroke x2 ). for 2 decades now but is relatively young @ early 70s so could easily outlive what she has. That's really what's driving my OMY. An obligation to help her, And my fire plans do not account for funding my moms retirement care. I have one kid headed for college in September too and another kid 3 years behind - but we saved for college. Did not expect to have to (plan to) help mom with assisted living. I suppose there is eventually Medicare nursing home but she is not yet to that stage and may not be there even in 5 years. She is a survivor. The assisted living seems to be helping her to improve her health and capabilities, which is good. So working a year or two more would help fund her care.
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