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Update on GoodSense
Old 11-11-2012, 09:36 PM   #1
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Update on GoodSense

Well it's been so long since I last posted here I figured I should start over again with introductions.

I am 34. Recently divorced. Thanks to the divorce, my nest egg has shrunk significantly. With all assets combined minus house (which is slightly under water), I am now only at $250K, set back quite a bit but I don't regret it.

I have worked for the federal government for 2 years and I love my job. It's the best job I've ever had and I hope to work here for a full 20 years, planning to retire at 52 (earliest time to retire with full benefits).

Financially, despite the divorce, I'm still pretty on track. I'm saving more than 1/2 of my income right now. I plan to get remarried and have children, so the savings rate will be down to 1/3 to 1/4 of income once that happens.

At age 52 I will quality for federal retirement with health insurance. On this pension alone I/we should be able to live OK. My nest egg will be a cushion, which will hopefully grow to a decent size.

I used to be really eager about early retirement, but the divorce has set me back several years. Since I like my job, and full benny at 52 is not half bad, I decided that's the best way to go for now.

Good to be back onboard! Hope everyone is doing well, and don't divorce unless you have to, because it certainly hurts financially!
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Old 11-11-2012, 09:57 PM   #2
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Hi, GoodSense.

I am trying to recall if you were the poster who worked for a windmill company, and wanted to learn or improve some foreign language skills to work for the State Department? If not, then I have failed in demonstrating my superior memory, but I remember someone with the above background, simply because I am interested in wind power generation, and also impressed by people who know multiple languages.
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Old 11-11-2012, 10:06 PM   #3
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Yes, that's me! I am very impressed by your memory. I can't even remember people I met last week!

The multiple languages...still a challenge but I'm getting by.

I've been reading the survey on how many years worked before retirement. At 52 I will have worked full-time for 30 years. It looks like it's right on the average for this forum - what a bunch of over-achievers!
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Old 11-11-2012, 10:17 PM   #4
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Damn, my memory is truly superior!

Yet, I do not know how I cannot apply it to learning another foreign language. The brain works in mysterious ways.

I know 3 languages, 2 fairly well, and one not so well, but that was because I started to learn them when I was under 10. Last time I went abroad to a new country, I tried hard and could not remember simple words like "hello", "thank you", etc...
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Old 11-12-2012, 07:23 AM   #5
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I am 34. Recently divorced.
That's exactly where I was in 1984. Dark days indeed. There is life after divorce and you do have time to recover in every way from it.

While I wasn't underwater on a house, I was flat broke before the house sold. When the dust settled on the divorce I had $7,400 in the bank and everything I owned fit in the back of the smallest U-Haul truck I could rent.

Bought another house 18 months later and met and married the sweetest, most kind, generous person I've ever met. And she'll "squeeze a nickel until the buffalo screams". Zero Debt in 14 years.

So there is hope.

And bear in mind since you enjoy your job you don't have to retire at the earliest possible time. I stayed several years after I could have retired because I was enjoying the work so much. Other factors prompted the retirement.
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Old 11-12-2012, 10:43 AM   #6
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Sorry to hear about your divorce.......many (including me) do divorce afte marrying young, I was 20 the 1st time. The GOOD News is that after 8 years of being single I married a terrific girl and best friend. We enjoy each other, like the same TV shows most of the time, like the same kinds of ethnic food, both like veggies and excercise and have great kids. So, most people are a little smarter the second time around. You still have plenty of time to save, have kids and find a good person. Good Luck!
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Old 11-12-2012, 11:51 AM   #7
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Originally Posted by GoodSense View Post
Well it's been so long since I last posted here I figured I should start over again with introductions.

I am 34. Recently divorced. Thanks to the divorce, my nest egg has shrunk significantly. With all assets combined minus house (which is slightly under water), I am now only at $250K, set back quite a bit but I don't regret it.

I have worked for the federal government for 2 years and I love my job. It's the best job I've ever had and I hope to work here for a full 20 years, planning to retire at 52 (earliest time to retire with full benefits).

Financially, despite the divorce, I'm still pretty on track. I'm saving more than 1/2 of my income right now. I plan to get remarried and have children, so the savings rate will be down to 1/3 to 1/4 of income once that happens.

At age 52 I will quality for federal retirement with health insurance. On this pension alone I/we should be able to live OK. My nest egg will be a cushion, which will hopefully grow to a decent size.

I used to be really eager about early retirement, but the divorce has set me back several years. Since I like my job, and full benny at 52 is not half bad, I decided that's the best way to go for now.

Good to be back onboard! Hope everyone is doing well, and don't divorce unless you have to, because it certainly hurts financially!
Thanks for the update. Divorce is the pits, isn't it? At least it was for me and my ex. Still, it sounds like you are doing pretty well financially for someone who is recently divorced. Even though I ended up with nothing but a junker car, a sofa, and a ton of debt at age 50 due to my divorce, I still don't regret a thing. I had the experience of marriage and to me, life would not have been complete without it. While I found that I prefer being single, I would not have ever known that without having been married in the first place.

Oh, and as I think someone said, there is life after divorce! For me, a much better life.

With a good federal job and a quarter million, it sounds to me like you are right on track in your quest for ER. Welcome back!
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Old 11-12-2012, 12:02 PM   #8
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So, most people are a little smarter the second time around.
Certainly seems to be true at ER.org. However, it is not true in the population at large. First marriages fare best, 2nd marriages follow, and third and later ones are worse yet.

Of course not many serial divorcers are going to be early retired, or likely retired at all.

I got divorced after I was fully retired. I wouldn't marry again if there were a cash prize. Marriage can be very pleasant, mine was for many years. But when it goes it really goes, and there is no defense against that. I wouldn't go into the mountains without rain gear, a shelter, some fire and food. 'Nuff said.

Ha
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Old 11-12-2012, 12:03 PM   #9
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My first marriage was at age 21. I hope I'm smarter now but only time will tell. Anyway I enjoy my life tremendously now and wouldn't trade it for anything. As I read the "biggest regrets" thread, I am reminded again why it was a good decision. At least in my relentless quest for ER I learned to LBMM, and the good habit is staying with me.

Thanks for all the support!
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Old 11-12-2012, 01:53 PM   #10
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Good to hear from you again. I was married at 19 and there were several years when we probably would have been divorced, if we could have afforded it. I am famous for saying, never again. It is great that you like your job and you still have so much money left. I am glad to have had my career with the Fed gov and thankful for my pension and health ins.
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Old 11-12-2012, 04:54 PM   #11
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Dreamer et al, I am very grateful for my federal pension. I'm also saving aggressively in TSP and Roth, but the pension is golden. I also have a small state pension and a 457(b). The state pension system is not doing well, and they just arbitrarily adjusted the COLA from 3% to 2%. Oh man, what a difference it makes over 30 years! Anyway, I'm not complaining because I understand that the state pension is going broke and they have to do something. C'est la vie.

Haha, I can't imagine getting divorced after retirement. What a shock that must be to all the financial planning!!

W2R, agreed. I am very happy every day. I also don't regret the marriage. It just wasn't meant to be. Life has indeed been very good to me and I am thankful.

Jerome, thanks for the support. Congrats on finding a great life partner!

Walt, indeed it is extremely important to find someone with the same financial values. My future spouse would need to either be a saver or let me be the financial "dictator." I am not willing to be subject to someone else's careless spending.

NW_bound, speaking 3 languages is very impressive (especially for Americans)! For me, I have to have a motivation to learn (interest in the culture, people, work, etc.). I am too lazy to learn a language just for tourism purposes. Ironically, out of all the countries in which I've traveled, Germany was the only country where I spoke absolutely nothing in the local language. For some reason I thought all Germans spoke some English. How wrong I was!
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