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Old 06-20-2015, 03:59 PM   #21
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Join Date: Feb 2012
Location: Tampa Bay Area
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Hi. My goal was 50 also but I did two more years waiting to hit my financial goal of a 3% WR. With $3mm in investible assets at 3% i would be comfortable spending $90k per year ($7500/month). My budget is close to that and includes $1k / month for nonrecurring expenses and $2k/ month for healthcare.

"For the time being no discipline brings joy, but seems grievous and painful; but afterwards it yields a peaceable fruit of righteousness to those who have been trained by it." ~
Hebrews 12:11

ER'd in June 2015 at age 52. Initial WR 3%. 50/40/10 (Equity/Bond/Short Term) AA.
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Old 06-20-2015, 07:17 PM   #22
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Join Date: Jun 2015
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Originally Posted by hopeisnotaplan View Post
EO1...very similar indeed. Curious, did you choose the gulf coast of FL? We found we liked the southwest/gulf side a little better than the east or panhandle. We hope to transition to about 50/50 on time there when finally leave full time emp.
We chose the SE Coast of Florida due to some family ties and non spring break area. We bought a highly rentable house 1/2 block off of the ocean which we currently rent for a pretty good income stream. Our tentative plan is to sell out in TN (around $700k) and live part time in FL and rent part time abroad (Central America, MX etc) for a change of pace. I would be able to work when in FL and would be able to rent our FL house when not there. Plans do change though. We love TN but are just looking for a change.

You only go around once.

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Old 06-23-2015, 06:47 PM   #23
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With that much in investments, you should be good to go, starting with a 3% withdrawal rate. I'm at a little over half with similar monthly goal and am semi-retiring (DW will still work but the goal is to pull the plug for her also in a few years). 56, though, but 3% should carry you until SS, or at least that's my plan. I'm willing to go 5-5.5% in a few years before I qualify for SS, when DW decides to pull the plug.
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Old 06-29-2015, 01:35 AM   #24
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Similar. I am 46 and pulled the plug earlier this year. Have two teenage kids however. NW is similar:

3.0 M in taxable stock account,

0.75 M in IRAs and other tax deferred accounts

0.4M in real estate including home and small rental property

We also have about 0.25M in separate taxable stock accounts to cover kids college tuition.

We decided not to wait to enjoy life.

50 was just a number and both Time / health are the two commodities that we realized we could not purchase matter how much more we saved....
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Old 06-29-2015, 08:20 AM   #25
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I'm glad to hear you went for it. I'd love to hear how it goes over the next few months and how the money flow is working for you. Would you care to tell me what your monthly expenses are for reference?

I'm a little hesitant to just punch out b/c my work pays well, stock options, etc. I know life is short but I feel like I'm piling on to the nest egg with not a ton of downside...a little stress, but not crazy.
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Semi-retire at 50
Old 06-29-2015, 05:57 PM   #26
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Semi-retire at 50

Sure. I estimate approximately 6k - 7k per month. I don't have a full picture yet on expenditures due to a move to a lower cost location and "incidental" college cost as #1 son goes to college in the fall.

Market down days like today always hurt but are part of the cycle so I keep a couple years in cash to ride out the down periods.

My single biggest expense post FIRE and a worry, ( have a paid for house), is health insurance - ACA plan for family of 4 isn't cheap. Nor is the deductible. That was the expense I was worried most about but so far it's going ok. That's between $1200-1400 per month excluding any deductible.

Other Insurance is a big expense too : I dropped the life insurance at this stage. Don't yet have long term care insurance... But am keeping disability insurance. Teen drivers make car insurance spendy and liability insurance is important to protect the nest egg.

College will be an expense for the kids but as noted we have put what I hope is enough away to cover that and plan to sell stock along the way through the year to cover the next year's tuition.

I'm still nervous as hell about all this drawdown and worry about safe withdrawal rates etc because i don't know anyone who retired early like me - going it alone aside this forum. The first several months were really challenging to disconnect and not think about money ALL the time but I am figuring it out and starting to relax a little and enjoying my time immensely especially when I see others deal with work and politics and commuting and all the bad stuff that comes with work.

For me, the extra cushion just wasn't going to make me more happy. I'm just as fine with a 5 year old car as a new one - I like my fun toys too but am moderating my spending to a retiree budget. I'm way happier with the time I have now to enjoy the toys and things -- they were sitting in the garage going unused before I FIREd.

What else can I share ? What are you interested to learn about ?
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Old 06-30-2015, 04:24 PM   #27
Recycles dryer sheets
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Biker: in a similar position but haven't pushed the button.

I just turned 40 last week. 2 kids (3 and 1). Currently about 4m in investment assets and about 1.3m house with 650k left on the mortgage (southern California and got lucky bought at the bottom).

My income is much more than we spend and I mostly enjoy my work...

What is pushing me closer is my daughter now asks me every morning to stay with her instead of going to work. I know that in a few years she will likely ask the opposite . So I feel like if I don't take the time now... I'll regret it.

It's also likely work will always be there. I'm in tech but there's no way I wouldn't keep up with it because I love the content and it would just become my hobby.

Like you I'm worried about insurance, draw downs etc but at the same time I have more than enough to spend the formative years with my kids in almost any nightmare scenario. And it's likely that were good forever at this point in almost any situation.

So I suspect in the next year or so I will make the shift.

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Old 07-11-2015, 07:03 AM   #28
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Petershk, My situation is similar to yours but my kids are seven. It is natural for kids to say this at that age. In my experience, I notice my time for them will truly last until they are ten or so. Reason I say is that the peer pressure and activity laden life start to get heavy around this point for many kids.

I am thinking about taking a year off in the next year or two to enjoy this special time with my kids. It sounds like you are in good shape to take even more time than me but you also have plenty of money to take time off and then jump back in later.
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Old 07-11-2015, 07:09 AM   #29
Confused about dryer sheets
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Hopeisnotaplan, I live in Nashville as well so like you I enjoy the lower cost of living lifestyle; though I can't see to stop visiting all the great new restaurants we have.

It seems that you have no worries as long as your expense management is in check, even at your $80k+ rate per year expense rate.

Like many people have suggested, I would think about the things that make you excited about your life and work and make sure you can translate this into a new lifestyle.

Congrats, you are well on your way to something new.

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