Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Well here I am
Old 10-26-2006, 06:25 PM   #1
Confused about dryer sheets
 
Join Date: Oct 2006
Posts: 6
Well here I am

Hello,
I have been reading this board for quite some time and decided to join the club. I am seriously thinking about calling it quits. My wife and I have been putting away cash since we married 25 years ago. Our home is paid for and we have no outstanding debt. The kids are through college and don't need much financial help from mom and dad anymore.
We have a portfolio valued at a 2.1 million. Our financial advisor keeps telling me that I can call it quits anytime and has given us a conservative number ...as she calls it, of 50 thousand a year to live on until I die at the age of 95!. I don't plan on just sitting around. I can make a few bucks here and there doing things that I want to do if I feel like I need some extra cash. My wife just got a job with our local school district. I am 50 in June and in good health but we will have to pay our medical when Cobra runs out. What do you braniacs think? Should I tell the boss to shove it….in a nice way, of course? Thanks for all the excellent advice here. You all seem like great people with the same goals as me and my wife.
All the best,
Seattle
__________________

__________________
Guitars
Epiphone is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: Well here I am
Old 10-26-2006, 06:34 PM   #2
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,563
Re: Well here I am

Quote:
Originally Posted by Epiphone
Our home is paid for and we have no outstanding debt. The kids are through college and don't need much financial help from mom and dad anymore.
We have a portfolio valued at a 2.1 million. Our financial advisor keeps telling me that I can call it quits anytime and has given us a conservative number ...as she calls it, of 50 thousand a year to live on until I die at the age of 95!.
I don't plan on just sitting around. I can make a few bucks here and there doing things that I want to do if I feel like I need some extra cash. My wife just got a job with our local school district. I am 50 in June and in good health but we will have to pay our medical when Cobra runs out. What do you braniacs think? Should I tell the boss to shove it….in a nice way, of course?
Welcome to the board, Epiphone. (Great poster name!)

$2.1M sounds like $84K/year at a 4% SWR, so if you can live on $50K and spend less than $34K on medical insurance then... you must be going to work just for the social interaction & personal entertainment. That's especially true if your spouse is bringing home a paycheck and you're interested in working some too.

I'll point out that after four years of ER I feel no need to bring home extra cash.

Have you read Bob Clyatt's "Work Less, Live More"? Better still, should you give a copy to your boss?
__________________

__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Re: Well here I am
Old 10-26-2006, 06:49 PM   #3
Full time employment: Posting here.
 
Join Date: Aug 2005
Posts: 942
Re: Well here I am

Most people who have retired at your age, have done so on much less than 2.1 mil. Unless you just like to go to work, I really don't see the need unless you want to build it up to 3 mil, and go travel the world.

Nice to have you on board.
__________________
modhatter is offline   Reply With Quote
Re: Well here I am
Old 10-26-2006, 07:44 PM   #4
Administrator
Gumby's Avatar
 
Join Date: Apr 2006
Posts: 9,154
Re: Well here I am

Welcome Epiphone. It sounds as if you are in the position to demonstrate that you are who you decide you are, not what you are paid to be.
__________________
Living an analog life in the Digital Age.
Gumby is online now   Reply With Quote
Re: Well here I am
Old 10-26-2006, 11:38 PM   #5
Full time employment: Posting here.
Alex's Avatar
 
Join Date: May 2006
Posts: 696
Re: Well here I am

Quote:
Originally Posted by Gumby
Welcome Epiphone. It sounds as if you are in the position to demonstrate that you are who you decide you are, not what you are paid to be.
Amen to that.
__________________
Oh, you hate your job? Why didn't you say so? There's a support group for that. It's called EVERYBODY, and they meet at the bar.--Drew Carey
Alex is offline   Reply With Quote
Re: Well here I am
Old 10-26-2006, 11:40 PM   #6
Full time employment: Posting here.
Alex's Avatar
 
Join Date: May 2006
Posts: 696
Re: Well here I am

Quote:
Originally Posted by Epiphone
Hello,
I have been reading this board for quite some time and decided to join the club. I am seriously thinking about calling it quits. My wife and I have been putting away cash since we married 25 years ago. Our home is paid for and we have no outstanding debt. The kids are through college and don't need much financial help from mom and dad anymore.
We have a portfolio valued at a 2.1 million. Our financial advisor keeps telling me that I can call it quits anytime and has given us a conservative number ...as she calls it, of 50 thousand a year to live on until I die at the age of 95!. I don't plan on just sitting around. I can make a few bucks here and there doing things that I want to do if I feel like I need some extra cash. My wife just got a job with our local school district. I am 50 in June and in good health but we will have to pay our medical when Cobra runs out. What do you braniacs think? Should I tell the boss to shove it….in a nice way, of course? Thanks for all the excellent advice here. You all seem like great people with the same goals as me and my wife.
All the best,
Seattle
I would do what your heart tells you to do. If I were in your shoes, I'd start cleaning up my golf clubs and setting 9am tee times. But it is a deeply personal decision. I recommend EsrBob's book as a starting point. Whatever you decide, welcome aboard!
__________________
Oh, you hate your job? Why didn't you say so? There's a support group for that. It's called EVERYBODY, and they meet at the bar.--Drew Carey
Alex is offline   Reply With Quote
Re: Well here I am
Old 10-27-2006, 05:20 AM   #7
Recycles dryer sheets
 
Join Date: Apr 2005
Posts: 166
Re: Well here I am

Dear Epiphone,

Welcome!

If one of your main concerns is health insurance, why not go ahead and line that up prior to ER? Our family has (4) individual policies with high deductables from Blue Cross. Works for us and the kids can take their policies on when they finish college if they wish. I think this is important since sometimes people become "uninsurable". If you get that duck in a row, you should be home free.

Also, you mentioned a [shudder] financial advisor. This board tends to be self-advised since it seems most if not almost all advisors charge entirely too much and/or put their clients into (high expense) investments that are not in their best interests. Fee only advisors are best. Others are much better qualified to opine on this.

Assuming you only need your 50k per year for living expenses, your numbers tell the story - you are ready to go!

Wishing you the best!

Jane
__________________
Of all the things I've lost, I miss my mind the most!
Jane_Doe is offline   Reply With Quote
Re: Well here I am update!!!
Old 10-27-2006, 03:00 PM   #8
Confused about dryer sheets
 
Join Date: Oct 2006
Posts: 6
Re: Well here I am update!!!

Funny how things happen. I joined this great group, went to work this morning and I parted ways with my company after 12 years. I am a free man and get paid through March for all of the BS that they put me through in recent months. I can't tell you how awesome it felt, after they told me what they were giving me as a going away gift to then tell the suits that I was going to retire anyway. They looked at me in shock and awe.....(Excuse me for that) and I went my merry happy way. I called my wife and kids and they cried for joy. I don't have to get up at 3:30 in the morning like I have for 30 some years! I am free to do what I want when I want. Man! So, that's my story between yesterday and today. I am not rubbing it in anyone’s faces; it's just so sweet to reap the rewards for being a good saver while enjoying life. My wife and I make a good team and here we are. A new life begins. Thanks for the quick advice. You people are great! I wish you good luck and good health.
All the best,
Epiphone....as in the guitar that I will be playing anytime I want now!

__________________
Guitars
Epiphone is offline   Reply With Quote
Re: Well here I am
Old 10-27-2006, 05:58 PM   #9
Thinks s/he gets paid by the post
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 2,236
Re: Well here I am

WOW......you DO seem very happy and comfortable with your decision

CONGRATULATIONS!!!
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
jazz4cash is offline   Reply With Quote
Re: Well here I am
Old 10-27-2006, 06:05 PM   #10
Dryer sheet aficionado
 
Join Date: Aug 2006
Posts: 41
Re: Well here I am

Congrats on pulling the trigger! Pretty cool to have your first post on this forum being the original post and your second one being the one above. Best of luck in the future to you and your family.

Ponks
__________________
Ponks is offline   Reply With Quote
Re: Well here I am
Old 10-27-2006, 06:28 PM   #11
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,211
Re: Well here I am

Congratulations! Great deal on getting paid through March. So you are done now? No more work after today?

Enjoy sleeping in.
__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Re: Well here I am
Old 10-27-2006, 07:52 PM   #12
Confused about dryer sheets
 
Join Date: Oct 2006
Posts: 6
Re: Well here I am

Yes. No more! I guess I could go back to work tomorrow but this is such a strange and wonderful feeling. Maybe I'll feel different when the neighbors martini wears off in the morning, but right now....wow how liberating! I was under contract until the end of the year but since I was such a model employee and the company has mentioned hiring me somwhere else, they are being very nice to me. Maybe that will wear off too.
Thanks for all the kind responses. This is the most interesting club I've joined in a long time. I mean it!
Epiphone
__________________
Guitars
Epiphone is offline   Reply With Quote
Re: Well here I am
Old 10-27-2006, 10:07 PM   #13
Full time employment: Posting here.
Alex's Avatar
 
Join Date: May 2006
Posts: 696
Re: Well here I am

Wow! that is great news. Best of luck in your new life!!!
__________________
Oh, you hate your job? Why didn't you say so? There's a support group for that. It's called EVERYBODY, and they meet at the bar.--Drew Carey
Alex is offline   Reply With Quote
Re: Well here I am
Old 10-28-2006, 05:05 PM   #14
Recycles dryer sheets
 
Join Date: Jul 2006
Posts: 91
Re: Well here I am

Yay for you!

We would pull the trigger tomorrow if we had 2.1.

good choice! sleep in!
__________________
Callie is offline   Reply With Quote
Re: Well here I am
Old 11-02-2006, 10:23 PM   #15
Recycles dryer sheets
 
Join Date: Feb 2006
Posts: 84
Re: Well here I am


Unless it's a '64 casino...maybe you should now consider Gibson as your ERF handle. Splurge and celebrate!
Congrats and thanks for the inspiration!
devo
__________________
If you lend someone $20, and never see that person again, it was probably worth it.
devo is offline   Reply With Quote
Re: Well here I am
Old 11-06-2006, 08:38 PM   #16
Recycles dryer sheets
JonnyM's Avatar
 
Join Date: Mar 2004
Location: Modesto
Posts: 327
Send a message via AIM to JonnyM Send a message via Yahoo to JonnyM
Re: Well here I am

Epiphone makes many fine instruments. Glad to have another Guitarist in the club. I'm another member of the Class of 2006. And don't ever ask me how many guitars I have, cause then I'd have to actually "count" them and get scared. Enjoy the good life. I get together with like minded Rock and Rollies each Friday night at Mr. Drummer's and we Rock the night away. It's one of life's simple and very necessary pleasures.
__________________
It's about the music
JonnyM is offline   Reply With Quote
Re: Well here I am
Old 11-07-2006, 07:13 AM   #17
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
HFWR's Avatar
 
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 12,513
Re: Well here I am

Yeah, wouldn't mind having a Casino...

G.A.S. - Guitar Acquisition Syndrome... :P
__________________
Have Funds, Will Retire

...not doing anything of true substance...
HFWR is online now   Reply With Quote
Re: Well here I am
Old 11-07-2006, 10:14 PM   #18
Recycles dryer sheets
JonnyM's Avatar
 
Join Date: Mar 2004
Location: Modesto
Posts: 327
Send a message via AIM to JonnyM Send a message via Yahoo to JonnyM
Re: Well here I am

Quote:
Originally Posted by HFWR
Yeah, wouldn't mind having a Casino...

G.A.S. - Guitar Acquisition Syndrome... :P
Perfect Synchronicity is when you suffer (benefit?) from G.A.S. and are married to what my bandmates call the I.G.B.W. The Incredible Guitar Buying Wife! You see I don't really acquire or own any of the axes, they are really all hers, I just "play" them.

My life is so good...
__________________
It's about the music
JonnyM is offline   Reply With Quote
Re: Well here I am
Old 11-08-2006, 03:39 AM   #19
Dryer sheet aficionado
 
Join Date: Oct 2006
Posts: 47
Send a message via AIM to excellent
Re: Well here I am

Just wanted to say congratulations Epiphony! Time to enjoy the fruits (time) of your labor (also time)! Pretty ironic and sweet reward, huh?
(: Have an awesome time!
__________________
I&#039;m here to share what I learn and learn what I&#039;ll share!<br />Have a great day!<br />(:
excellent is offline   Reply With Quote
Re: Well here I am
Old 11-08-2006, 04:41 PM   #20
Confused about dryer sheets
 
Join Date: Oct 2006
Posts: 6
Re: Well here I am

Well!!!
Guitar freaks like me? Yes, I have a Casino and a Texan. I guess Beatle nuts can figure out why. In my working days I was a broadcaster and had the honor of interviewing people from all walks of life, including great players like Clapton, Harrison and McCartney. I got to hang out with Paul on a few occasions. My son just graduated from his school in Liverpool called LIPA. It was quite a full circle moment to see Sir Paul hand my son his diploma. Week two and counting and I haven't been bored yet. It is rather strange to do things like clean out old work papers that mean nothing now. Funny thing is I haven't had much time to sit down and play guitar!
__________________

__________________
Guitars
Epiphone is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 07:31 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.