Well here I am

[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

[Nords]

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?

[modhatter]

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.

[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.

[Alex]

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.

[Alex]

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!

[Jane_Doe]

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

[Epiphone]

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!

[jazz4cash]

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

CONGRATULATIONS!!!

[Ponks]

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

[Martha]

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

Enjoy sleeping in.

[Epiphone]

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

[Alex]

Wow! that is great news. Best of luck in your new life!!!

[Callie]

Yay for you!

We would pull the trigger tomorrow if we had 2.1.

good choice! sleep in!

[devo]

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

[JonnyM]

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.

[HFWR]

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

G.A.S. - Guitar Acquisition Syndrome... :P

[JonnyM]

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...

[excellent]

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!

[Epiphone]

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!