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Pulled the plug yesterday!
Old 08-01-2013, 07:45 AM   #1
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Pulled the plug yesterday!

Hi everyone... wife is retiring at the end of August from Education at 58, I just turned 62 and notified my company yesterday that I'm outta here 12/31.

Very appreciative of this forum. Finding Firecalc really helped me make the decision. It's one of the best retirement tools I found. Several visits with accountant and FP and couldn't come up with any compelling reason to stay on till 65.

DW and I are planning to be comfortable with 101k income from pensions, SS and a SWP of 4%. Expenses at the high end 60k. No debt. Taxes about 11k, so we'll have about 3k a month discretionary. Her health insurance covers us both. No kids or extended family, so we can adjust SWP and expenses as needed.

Scary as hell about missing the 'action' and the people at work, but I plan to establish a routine quickly. Love my job, but I oversee a company with 70 employees and I won't miss the drama and the misbehavior in the workplace and all the associated people problems.

Cheers... Bob
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Old 08-01-2013, 07:47 AM   #2
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You sound elated. Congrats and welcome to the forums.
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Old 08-01-2013, 08:43 AM   #3
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Congrats!
I think the word is giddy!
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Old 08-01-2013, 01:21 PM   #4
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Congratulations ! Moving to the new routine will be easier than you think !
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Old 08-01-2013, 02:54 PM   #5
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Well done.
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Old 08-01-2013, 03:43 PM   #6
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Congratulations, Bob. I'm in Bosque County counting down.

Alan
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Old 08-01-2013, 03:49 PM   #7
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Congratulations, Bob. I'm in Bosque County counting down.

Alan

hi Alan.. small world! when's your due date?
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Old 08-01-2013, 08:02 PM   #8
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Congratulations ! I wish you and your wife a wonderful new life !
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Old 08-01-2013, 08:24 PM   #9
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Congrats!
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Old 08-01-2013, 08:48 PM   #10
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thanks for all the kind words... lots still to do to get ready, including IRA conversions, applying for the SS, pension elections etc....... counting down
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Old 08-02-2013, 12:59 PM   #11
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I'm going to 55 1/2 due to medical retiree benefits, so that's Jan. 1 2017. I keep telling myself how fast this time will go by.
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Old 08-02-2013, 01:15 PM   #12
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Congratulations! Now, you can spend all your day tailgating. Such a wonderful feeling knowing that all the sacrifices and preparations (intentionally or otherwise) along the way culminated in you and DW at the cusp of FIRE!
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Old 08-02-2013, 03:24 PM   #13
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Congratulations! You have more than enough financial resources to enjoy retirement
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Old 08-02-2013, 03:52 PM   #14
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Great job ! Please keep us posted.
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Old 08-02-2013, 05:58 PM   #15
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VG! We did similar at age 55, waited 3 more yrs till we only needed 3% from our Savings.. just to be sure..
because once we sold our 2 little Businesses, there would be no turning back..

Maybe you can Join in lobbying so we can have at least our Taxable Investment $ be Earned Income? It's a Part Time Job for me, so I Earn it! I want to Keep Hiding it from future taxes in my Roth..and IRA like Mitt Romney does!
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Old 08-03-2013, 09:18 AM   #16
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Congratulations! You gave them a lot of notice. I hope they are appreciative of that. And more importantly, I hope they don't use the next few months to talk you out of it.
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Old 08-04-2013, 08:34 AM   #17
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You and your DW are slightly younger than DW and I, but your income level and expenses are pretty close to where ours are, with our retirement to be covered by IRA/SS/small pension, with a 2.5% SWR. I am not planning to claim SS before FRA or possibly beyond. Good luck, life is wonderful.
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Old 08-05-2013, 07:45 AM   #18
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Congratulations! Everything in your post sounds exactly like our experience/situation except the wife and I both retired from academia.

I do miss the daily social connection with my friends in the department. I was on the selection committee that hired them so I was sure they would all be compatable and professional. I have the opportunity to drop in and see them on occasion when I take classes for fun. That tends to make the adjustment a little easier as well as pursue interests I didn't have time for in the past.

The administration not so much. I'm glad not to be annoyed anymore by their political shenanigans. That puts a smile on my face.

You should have lots to do with your available time now that you have taken care of financial concerns.

Today I get to take my grandson to see a movie before he has to start back to school. Later I'll grill some steaks, tend to the veggie garden, have a beer and watch the watermelons grow before I make plans for our next travel.

You and your wife are going to have some fun!

Cheers!
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Old 08-05-2013, 08:41 AM   #19
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Originally Posted by Badger View Post
Congratulations! Everything in your post sounds exactly like our experience/situation except the wife and I both retired from academia.

I do miss the daily social connection with my friends in the department. I was on the selection committee that hired them so I was sure they would all be compatable and professional. I have the opportunity to drop in and see them on occasion when I take classes for fun. That tends to make the adjustment a little easier as well as pursue interests I didn't have time for in the past.

The administration not so much. I'm glad not to be annoyed anymore by their political shenanigans. That puts a smile on my face.

You should have lots to do with your available time now that you have taken care of financial concerns.

Today I get to take my grandson to see a movie before he has to start back to school. Later I'll grill some steaks, tend to the veggie garden, have a beer and watch the watermelons grow before I make plans for our next travel.

You and your wife are going to have some fun!

Cheers!
wow.. sounds like a fun day! Especially with the grandson. We don't have children, so we lack that opportunity.. wish the local library had a lending program for kids .. check em out for a day or two and then turn them back in ... I'll probably just volunteer...
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Old 08-05-2013, 02:56 PM   #20
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wow.. sounds like a fun day! Especially with the grandson. We don't have children, so we lack that opportunity.. wish the local library had a lending program for kids .. check em out for a day or two and then turn them back in ... I'll probably just volunteer...
Bob,
Volunteering can be a lot of fun and a good way to meet new friends. I volunteer at the local PBS station for a Saturday morning radio show for the blind. Lots of fun and good folks. Look around and you will find something that is just as rewarding for you.

If you like kids then maybe assisting a coach for swimming, soccer, little league, cross country, football, etc. I have no experience in that and don't know if it gets too political and then not fun but it's a thought to look into.

My only frustration is that I need a few hundred more years to try everything that I want to do.

Cheers!
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