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October 2nd, 1st day of ER
Old 10-01-2009, 02:40 PM   #1
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October 2nd, 1st day of ER

Hello, I have enjoyed reading the many threads over the last few years although I have not posted much prior to now since I did not have anything concrete to offer. Each persons situation seemed so unique that I gleaned a little bit from almost every thread.

Life is amazing. I was very tired of my job and performing it in a very mercenary mode. No pleasure. Just as I was thinking of quitting I was offered a severance package. Squeezing out at just over 52 yrs old.

I am not sure I am the type to stay retired but I am going to give it a try. I easily have jobs remodeling inside and outside the house to last 2 years if I spread them out properly. Plus, I have lot of outdoor hobbies which I have mostly neglected due to long and mundane workweeks.

Financially, I think we are going to be okay. About $2.5mil invested 50% bonds, 30% stocks and 20% 5yr CD ladder. Split equally between T.Rowe Price and Vanguard. Mostly tax-exempts on the bond side for now to lower my tax profile through 2009. Our average budget needs (minus medical premiums) has been $24K - $28K per year depending on vacations and household emergencies.

No kids. Just the DW and I. No debt. DW is planning to work 2-3 more years to lock in higher pension levels. Prior to her retirement, we hope to start selling everything (house, cars, etc) and travel the world for a year before picking another place to settle down. This is something we have done before and really enjoyed (most of the time). We'll see if the world seems safer then.

Thanks to everyone for the great guidance and patience shared on this ER forum. I'm sure there are more, such as myself, who are influenced by you even though we are not online and letting you know it.
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Old 10-01-2009, 03:06 PM   #2
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Hi KS Prius, and welcome to the Early Retirement Forum.

Sounds like you are well prepared for retirement. When will it be? It will be interesting to hear what location you choose for retirement and why.
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Old 10-01-2009, 05:29 PM   #3
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So it sounds like tomorrow is the first day of the rest of your life? Congratulations!

Sounds like you have planned plenty of household projects to keep you as busy as you need to be, and to keep your DW from being too jealous until it's her turn. And plans for a years worth of travel make a nice goal!
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Old 10-01-2009, 07:10 PM   #4
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Congratulations on your new freedom.
There is another new post from someone else who just FIREd today. The titles of both threads were almost identical.
Is it today the 1st or tomorrow the 2nd the first day of ER for you? I'm easily confused.
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Old 10-01-2009, 07:30 PM   #5
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Congratulations! Your story is so refreshing compared to the way the media might spin it.

Sounds like you have a lot to offer; maybe you could add E-R forum posting to your hobbies.
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Old 10-02-2009, 02:59 AM   #6
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I'll add my congratulations to the list.

I do have a bit of advice if it fits:

Quote:
Originally Posted by KS_Prius View Post
I easily have jobs remodeling inside and outside the house to last 2 years if I spread them out properly.
I retired a bit over two years ago. I had some similar projects. I learned that if spread out properly they could be a 10 year project. Be creative.
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Old 10-02-2009, 07:45 AM   #7
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Congratulations and good luck. With that much saved and the minimal expenses you should be in great shape. I second Kumquat's recommendation to stretch the chores out over a decade. You might even find that you enjoy other pursuits more
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Old 10-06-2009, 07:25 PM   #8
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Quote:
Originally Posted by KS_Prius View Post
Financially, I think we are going to be okay. About $2.5mil invested 50% bonds, 30% stocks and 20% 5yr CD ladder. Split equally between T.Rowe Price and Vanguard. Mostly tax-exempts on the bond side for now to lower my tax profile through 2009. Our average budget needs (minus medical premiums) has been $24K - $28K per year depending on vacations and household emergencies.

No kids. Just the DW and I. No debt. DW is planning to work 2-3 more years to lock in higher pension levels.
Sounds like you will be just fine. Congratulations!
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Old 10-06-2009, 08:13 PM   #9
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Congratulations!

Quote:
Originally Posted by KS_Prius View Post
Financially, I think we are going to be okay. About $2.5mil invested 50% bonds, 30% stocks and 20% 5yr CD ladder. Split equally between T.Rowe Price and Vanguard. Mostly tax-exempts on the bond side for now to lower my tax profile through 2009. Our average budget needs (minus medical premiums) has been $24K - $28K per year depending on vacations and household emergencies.
You have a SWR of ~1%. Even I, the fiscal conservative, think you will be financially okay!!!

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Old 10-07-2009, 09:29 AM   #10
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Hi, meadbh.

I am pretty sure when my DW retires in 2-3 yrs, our expenses will be closer to $40K-$45K maybe $50K (in today's dollars) per year with the cost of having to pay our own medical insurance premiums added in + a few more vacations per year. I ciphered out that would mean we'd pull about $60K per year out to pay taxes and meet expenses. Our non-retirement portfolio is income focused with the current yield at 3.2%, providing about $45K of income. This is lower than I'd like because % rates are dropping and our I-bonds have all reset to 0% (hopefully, that will change on Nov. 1st). Barring the "unforeseen and unwanted" this should still last beyond my RMD date.
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Old 10-07-2009, 09:34 AM   #11
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Hi, Want2retire. Figuring out where we want to live is the sole thorn in our sides. From observation, the older one gets the warmer you want it to be on a daily basis but not blasting hot and humid during the summers. I am hopeful we'll take a trip to New Mexico to see places like Ruidoso, etc. Tough to even guess how it will all turn out. We just know we won't be staying here.
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Old 10-08-2009, 06:27 PM   #12
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You might want to take a look at Warren Bland's Retire in Style: 60 Outstanding Places Across the USA and Canada (2005). While it is no substitute for actually living in a town or city, it may provide you with some insights.
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Old 10-10-2009, 05:10 AM   #13
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Any of you sees my naughty kitten?
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Old 10-10-2009, 08:51 AM   #14
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Originally Posted by KS_Prius View Post
Hi, Want2retire. Figuring out where we want to live is the sole thorn in our sides. From observation, the older one gets the warmer you want it to be on a daily basis but not blasting hot and humid during the summers. I am hopeful we'll take a trip to New Mexico to see places like Ruidoso, etc. Tough to even guess how it will all turn out. We just know we won't be staying here.
If climate is your only criterion for your retirement location, you have it made! All you have to do is identify regions with the climate that pleases you, and you are set.

But, I suspect that once you identify those regions with suitable climate for you, you may start to realize that you have other criteria as well that will guide you in choosing a more precise location. Or maybe you have realized that already. Aspects such as the size of the town, crime, cost of living (including tax structure and housing), easily accessible cultural activities or shopping or activities, and proximity to family and/or a nearby major airport are among the myriad of other criteria that come to mind. Good luck in finding your retirement paradise!
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Old 10-10-2009, 10:15 AM   #15
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Hi, meadbh.

I am pretty sure when my DW retires in 2-3 yrs, our expenses will be closer to $40K-$45K maybe $50K (in today's dollars) per year with the cost of having to pay our own medical insurance premiums added in + a few more vacations per year. I ciphered out that would mean we'd pull about $60K per year out to pay taxes and meet expenses.
.....still leaving you at an SWR of 2.4%. But that's quite an increase in expenses!
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