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Old 11-02-2007, 09:22 PM   #1
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New to forum.

Hello to everyone on the forum. I started planning for retireing at 55 when I was 35 and at this point in time (today I turned 53) it looks like I am on track and going to be able to do it.

Chuck W.
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Old 11-02-2007, 10:37 PM   #2
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Congratulations and welcome to the Forum.

Stick around a while and you will find it is a lot like a family. Lots of members with experience in a variety of life's issues, a great group with some characters popping up now and again.
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Old 11-02-2007, 11:44 PM   #3
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Hello to everyone on the forum. I started planning for retireing at 55 when I was 35 and at this point in time (today I turned 53) it looks like I am on track and going to be able to do it.

Chuck W.
More power to you! See my signature line. I started planning/saving about age 30 and settled in by 40 at a target date of age 54. I went out on target to a dime.

Welcome. Be interested to hear more of your story.
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Old 11-03-2007, 09:31 PM   #4
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Hi Chuck. Welcome to the forum.

You certainly did a lot more retirement planning than I and perhaps most of us did. Bravo!
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Old 11-04-2007, 03:27 AM   #5
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Hi Chuck. Its good to see more evidence that planning works!
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Old 11-04-2007, 05:09 PM   #6
Confused about dryer sheets
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More power to you! See my signature line. I started planning/saving about age 30 and settled in by 40 at a target date of age 54. I went out on target to a dime.

Welcome. Be interested to hear more of your story.
A big part of what has made early retirement possible has been because of where I work. Back in 1986 the founder of our company died from cancer. He had offers to buy the company but wanted all the employees to still have a job so he sold the company to the employees by setting up an ESOP (Employee Stock Ownership Plan). Our company has contributed the max. 15% of our earnings every year to the stock buy back. (They had always contirbuted 15% to a profit sharing plan before that.) There used to be something (I don't remember what it was called.) that allowed them to contribute an additional 10% of our earnings to another plan. That plan has changed and everything in that plan was rolled over into a 401(k). So every year the company was contributing 25% of our gross wages into our retirement plans. All of the available stock was distributed amongst the employees in less than a 10 year period. Since then the stock has grown in value considerably. Another caveat has been the company has also set up the retirement age at 55. This has given us other IRS advantages regarding selling our company stock and transferring that money into the 401(k), which is self-directed.
Sorry this is so long, but that is my story in a nutshell.
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Old 11-04-2007, 06:02 PM   #7
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I am currently 47 looking to retire by 53 if all things stay on track. So far I have been pretty lucky about staying on track. I have lived modestly but never cut back on things that are important to me. I look forward to hear what everyone has to say. Great to be a member.
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Old 11-04-2007, 06:46 PM   #8
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CWatson69, you are indeed blessed.

The key to your goal is to keep your employer a strong and viable company. Never take this for granted.

A lot of your goals are tied up in the viability of one business. Diversify.
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Old 11-04-2007, 06:56 PM   #9
Confused about dryer sheets
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CWatson69, you are indeed blessed.

The key to your goal is to keep your employer a strong and viable company. Never take this for granted.

A lot of your goals are tied up in the viability of one business. Diversify.
That is another part of the story. Because our retirement age has been established at 55, this allows us to sell our company stock. 25% at age 45 and up 50% at age 50. So far I have sold 50% of my company stock and rolled it over into the 401(k).

Because we are an ESOP it also creates an incentive for everyone to keep the company a strong and viable company.
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Old 11-05-2007, 10:49 PM   #10
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Welcome to the forum, cwatson69. I'm sure you'll be very happy here. 55 is a good age to retire. I can tell you that from personal experience. Your employer has certainly treated you well. It's almost unheard of in this day and age.
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