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Old 10-23-2017, 08:18 PM   #1
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Hello all from a new member. I'm planning to retire in 2018. I have run the numbers with my InvestCo, with FireCalc and with my own spreadsheet. I will be leaving at 60 with a portfolio equal to 30 years of expenses. DW also has a pension which is equal to about 40% of our annual expenses. DW and I have always LWBYM.

Using my own spreadsheet and FIRECalc I have determined we can survive about a 50% drop in our portfolio, about a 50% increase in our annual expenses, or any combination thereof. Our plan includes health insurance, long-term care insurance and a liberal travel budget. Our house is paid for, and we have virtually no debt.

I have rerun the numbers so many times that I feel completely confident that nothing has been missed. I have even rerun the numbers for staying OMY, however the impact on our finances does not seem worth the impact on my sanity or my health from one more year of stress at MegaCorp. Additionally, because the stars are not shining so brightly at MegaCorp right now, there is a chance I could get a package and leave earlier than planned.

That said however the prospect of retiring still feels somewhat like stepping off a cliff.

Surely I'm not the first person to feel like this...
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Old 10-23-2017, 08:42 PM   #2
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I understand you totally the fear in stepping off of the cliff. Lol If you have done your home work and the numbers show you can I would not fear the jump.

In a couple of year or shorter of being retired you will ask yourself why you hadn't retired sooner. Believe me if the number work out just do it. Good luck.
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Old 10-23-2017, 09:03 PM   #3
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Welcome aboard! It's great to hear that you have analyzed everything so thoroughly and with such a large margin of safety.

If you haven't read it already, I suggest reading this thread:

Some thoughts: 6 months in

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Old 10-24-2017, 04:34 AM   #4
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Welcome aboard! It's great to hear that you have analyzed everything so thoroughly and with such a large margin of safety.

If you haven't read it already, I suggest reading this thread:

Some thoughts: 6 months in

omni
Thanks for the link! It all sounds so good. Particularly after the stress I have had for the last couple of years. I could definitely use a gym, but more than that time to simply de-compress. I feel like I have not done enough for the family or those around me because I have been so focused on my j*b and MegaCorp...
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Old 10-24-2017, 05:45 AM   #5
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Your numbers are great. Make sure that you have things to do. Step off.
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Old 10-24-2017, 08:27 AM   #6
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I feel exactly as you do and am about to "step off the cliff" as well. It feels scary, but like you, I've run the numbers through Firecalc, my Investment Professional, the NewRetirement Calculator and the Flexible Retirement Planner. Everything looks very good. I think we have that feeling because we're planners and the unknown causes us concern. This is how we're built and why we can retire early. I'm doing it later this year. I wish you luck! Major
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Old 10-24-2017, 05:12 PM   #7
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I feel exactly as you do and am about to "step off the cliff" as well. It feels scary, but like you, I've run the numbers through Firecalc, my Investment Professional, the NewRetirement Calculator and the Flexible Retirement Planner. Everything looks very good. I think we have that feeling because we're planners and the unknown causes us concern. This is how we're built and why we can retire early. I'm doing it later this year. I wish you luck! Major
Thanks Major. Since it sounds like you will FIRE before me I will be interested to hear how your transition progresses. Please let me know...
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Old 10-24-2017, 05:19 PM   #8
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Your numbers are great. Make sure that you have things to do. Step off.
Thanks for the advice. I have a long list of things to occupy me in the years ahead, the problem is currently i don't have the time to do any of them. But that will change...
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Old 10-24-2017, 07:59 PM   #9
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Watch this video. Then, go put in your notice.

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Old 10-25-2017, 08:46 AM   #10
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You've gotta work 10 more years. Just ask Suze Orman.

JK. If you have 30x expenses wisely invested plus a pension that covers 40% of expenses, plus eventual SS, you are good to go.
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Old 10-25-2017, 08:59 AM   #11
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You've gotta work 10 more years. Just ask Suze Orman.

JK. If you have 30x expenses wisely invested plus a pension that covers 40% of expenses, plus eventual SS, you are good to go.


Thanks for the input...
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Old 10-25-2017, 09:26 AM   #12
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Welcome WestUniversity and congratulations! Since it sounds like you have done a very thorough analysis, you may have already gone through this but it's been helpful for many folks here:

Some Important Questions to Answer

We're glad to have you and look forward to your contributions!
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Old 10-25-2017, 12:07 PM   #13
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Welcome WestUniversity and congratulations! Since it sounds like you have done a very thorough analysis, you may have already gone through this but it's been helpful for many folks here:

Some Important Questions to Answer

We're glad to have you and look forward to your contributions!


Thanks for the link. I read that sometime back. Good information.

Iím currently in the process of analyzing SS and the implications on our plans of taking it at 62 vs FRA vs 70. Between the Monte Carlo analysis on my InvestCo web site, FIRECalc and my own spreadsheet I am finding each has strengths and limitations. Using them in tandem has added perspective to the overall picture. Still have not arrived at a final answer, but 62 is still a couple years off.

Likewise Iím also building a schedule to analyze eventual RMDís down the road, as well as the impact of taxable vs tax deferred income, and setting up ROTHís for the kids. Itís a lot to do but itís more enjoyable than what I deal with at MegaCorp.

Since managing our finances will be my next full time gig Iím also planning to do as we do at MegaCorp and have a rolling plan that I update regularly so that I can not only keep tabs on things but make any necessary course corrections along the way.

I look forward to keeping up with this community, which obviously has a lot of knowledge and wisdom...
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