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Old 11-16-2014, 11:59 AM   #21
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For us, retirement is true freedom. There is no other way to put it. I absolutely love the fact that there is no schedules, meetings, deadlines or any thing else that puts restrictions on what I do.

I kid people that I have found something I am really really good at. Doing nothing! It's not for everyone, but us it works. Get up when you want, read the paper, leisurely eat breakfast, walk the dog, read a little, lunch, visit with neighbors, watch a little TV, maybe a shopping trip, before you know it, up and cooking dinner, then some TV, or maybe a movie, and you can't beat a combat nap in the middle somewhere, or not.

If freedom is not good enough, well keep on working, it helps pay our SS.
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Old 11-16-2014, 04:24 PM   #22
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Very enjoyable reading everyone's responses. In the meantime, I decided there are 3 types of activities:

- Those you would only do if you are paid for it (work for most people)
- Those you do for free (take a stroll around the block)
- Those you are willing to pay for (dinner out, attend a concert...)

The key is finding things that you can be paid for that you would be willing to do for free, or finding things for free that you would have been willing to pay for or finding things that you are willing to pay for that you can afford.

I think in retirement there are many things to do, even posting on boards like this giving advice and pointers to the future FIRE folks, ie paying it forward.
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Old 11-16-2014, 04:28 PM   #23
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Originally Posted by martyp View Post
I ER'd at 55 three yrs ago. I am truly amazed at the number of volunteer opportunities there are out there once I really started looking for them. I volunteer with an educational organization, The Osher Lifelong Learning Institute, and now I put on science classes for seniors.

A friends wife retired from her law career and went to work, part time, at the front desk of her favorite yoga studio. She said it's the best job she ever had in her life.

I agree that you should plan for what you will do in retirement. But it is also true that you will see things a little differently once you've taken the plunge. Some of the stuff you plan to do will happen. Some won't. But you will find new things you never thought of.

You have to be proactive about finding alternative things to do. Usually new opportunities won't just happen to you which is no different than during you w*rking life.

Also . . . retirement is not like vacation. There is some overlap but mostly it is an entirely different existence.

Well written, Marty. I am coming up on my first year and what you say is true for me. I am finding out especially in retirement...you never know where life takes you. And it is wonderful.
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Old 11-16-2014, 05:40 PM   #24
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Originally Posted by pb4uski View Post
I was in a situation similar to yours (though my WR was not near as low) and came to the realization that once I had enough money that time was more valuable than money. I retired at 56 for a number of reasons......
You're right that it is a big decision and change is hard. The hard part for me is after a life of accumulating and optimizing, it seems very out-of-character to just walk away from a good, high-paying job that many people would covet to "do nothing" and to start taking from the pile rather than adding to it, ......
I agree with pb4uski, except we are 57, and newly FIRE.
Again today, I thought, "why am I RE, when I could make $$$$$ with OMY" and then I reminded myself, we already have more than enough.

OP - with a WR of 1.5% , and many assumptions, I figure you have 4-8MM stashed which is great! (hope thats not crude on my part to slap a number on it). You don't have to confirm/deny it.

I think since you say you have enough $$$, that you need to figure out what are you going to do when you stop working. If you don't have hobbies that you are currently doing, try some. Also take all your vacation time from work, even some unpaid time, to do a real vacation. Too many working folks don't even use their full vacation time.

There really is no use working and selling whats left of your life for $ when you already have enough.
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Old 11-16-2014, 07:13 PM   #25
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Originally Posted by firewhen View Post
Very enjoyable reading everyone's responses. In the meantime, I decided there are 3 types of activities:

- Those you would only do if you are paid for it (work for most people)
- Those you do for free (take a stroll around the block)
- Those you are willing to pay for (dinner out, attend a concert...)

The key is finding things that you can be paid for that you would be willing to do for free, or finding things for free that you would have been willing to pay for or finding things that you are willing to pay for that you can afford.

I think in retirement there are many things to do, even posting on boards like this giving advice and pointers to the future FIRE folks, ie paying it forward.
I think this describes a happy retirement in a perfect nutshell.
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Old 11-16-2014, 08:49 PM   #26
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I know you (the OP) mentioned that it was all or nothing, meaning that working part-time was not an option. I can see that making it tougher to pull the trigger and ER.

As for me, I switched from working FT to PT back in 2001. I had already lined up some activities to do with my added free time such as vounteer work (school Scrabble, see my username?) and dormant hobbies such as square dancing I had not done in 13 years. Fitting those two things (and later, a third activity in that vein) into my schedule became a bigger and bigger challenge, eventually leading to my ER just over 6 years ago when the other pieces of that puzzle fell into place back in 2008.

But it was the elimination of the commute, even as little as 2 days a week, which was the biggest benefit of ER. I simply could not stand the 75-minute trip each way on the trains even as little as 2 days a week. Going from 2 days a week to zero days a week allowed me to expand some of my hobbies and remove nearly all of the scheduling conflicts between them and working as little as 2 days a week.
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Old 11-16-2014, 10:38 PM   #27
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Someone just emailed me at my blog email address with a similar situation as OP. Age 45, $1M+ NW, collects ample royalties and rents each month (married into money he says).

His question was "what do you do when your wife doesn't want you to ER?".

My response:

Quote:
As for financial issues, put together a good financial plan to illustrate to your wife how early retirement would work.

Maybe your wife has other issues with you retiring other than financial. Does she enjoy status because of your job? Is she afraid you'll be at home all the time and her current activities will be interrupted. Just some issues to work through with your wife once you get her to agree your financial picture is pretty good.
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Old 11-17-2014, 07:27 PM   #28
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It seems to me that you are worried about what others might think of you if you retired at an age that some may perceive as a bit young for retirement. That kind of thing never bothered me one bit. If you've prepared for retirement and are ready to make the jump, why worry what others may think? Believe me, there are people who have retired at a much younger age than 52 (some on this forum). Having said that, though, you do need to spend some time thinking about WHY you want to retire, and how you will spend your time once you do retire. Do you have other interests that you want to pursue? I certainly did. Is work interfering with your ability to pursue those interests? It definitely was in my case. On the other hand, if you have no idea what you would do in retirement, and if you are not unhappy with your current job, then perhaps retiring now would be the wrong thing to do. Only you can answer those questions........
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Old 11-17-2014, 07:50 PM   #29
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Hello! I've struggled with some of the same issues! I'm also 52 but I've always realized there's more to life than working. I have 7 more days and I'm taking the plunge after 34 years in banking! I realize I may end up back to work in the coming years, but I'm looking forward to some time to travel, time to spend with my Grandson (due any day) and enjoying life with my husband! I'm confident that what we saved will prevent us from living on the streets and starving and expect we'll be quite comfortable. Life is short and as the saying goes, it not the years in your life but the life in your years that matter! Good luck to you!


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Old 11-17-2014, 08:12 PM   #30
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What is getting you? How about the fact that more money is not helping you much at this point. You are putting up with work for no good reason.
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Old 11-18-2014, 10:08 AM   #31
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Originally Posted by Sunset View Post
I agree with pb4uski, except we are 57, and newly FIRE.

OP - with a WR of 1.5% , and many assumptions, I figure you have 4-8MM stashed which is great! (hope thats not crude on my part to slap a number on it). You don't have to confirm/deny it.

I think since you say you have enough $$$, that you need to figure out what are you going to do when you stop working. If you don't have hobbies that you are currently doing, try some. Also take all your vacation time from work, even some unpaid time, to do a real vacation. Too many working folks don't even use their full vacation time.

There really is no use working and selling whats left of your life for $ when you already have enough.
Yes, stash in that range. That is the only way to get to 1.5% WR unless the annual spending budget is low. I would not mind working but the job is stressful. Not crazy stressful, but stressful enough. There are nights when I work late and/or fire drills during the day. Not everyday, but often enough. Not sure what I will do but know what I should do...
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Old 11-18-2014, 10:30 AM   #32
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I've always looked at it this way. What does working more get you? Now granted like you I had to convince my wife. I think people (and I'm hearing it from everyone it seems that I've told I'm retiring next year) think you need to work to such and such an age. I do hear that "what are you going to do" but if you think about it, what is the difference between 50 and 60 or 70? One could easily argue that the longer you work the less you will know what to do with yourself outside of work..because it's been a part of your life even longer. You will just have less time to not do things in .

If there is a desire to provide an inheritance for children I understand OMY more but we don't have that. What we do know is that we don't know what the future will bring and if the numbers say you are pretty safe (and in your case they do) consider it insurance, getting out while you can enjoy it just in case life throws you a curveball that makes it not so enjoyable.

Good luck
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