When to retire?

[zcung]

IM 48. A software enterpreneur, I have enough in RE holding to live comfortably for 30 years, I feel tired and worn out! should I retire early?

zcung

[jdw_fire]

Quote:

Originally Posted by zcung IM 48.* A software enterpreneur, I have enough in RE holding to live comfortably for 30 years, I feel tired and worn out! should I retire early?* zcung

Short answer, yes.

Long answer would require more info from you on your assets, expected retirement expenses, size of family, health insurance, ...

[Nords]

Welcome to the board, zcung!

Quote:

Originally Posted by zcung IM 48.* A software enterpreneur, I have enough in RE holding to live comfortably for 30 years, I feel tired and worn out! should I retire early?

It's probably more important to retire early to avoid burnout & ill health than it is to keep working to a more "traditional" retirement age. However your planning also should consider what happens if you live longer than 78...

Have you read Bob Clyatt's "Work Less, Live More" about taking the ER break, keeping an eye on the portfolio burn rate, and working if necessary?

[zcung]

JDW, my assets include mostly in RE value around 4.5M, 220K of that is in IRA. Only one child, age 12 at home, 1/2 of college expenses is in place. Though our annual expenses is about 60K, I figured one can live, travel, and give pretty comfortably at 150K a year.

[zcung]

Nords, I haven't read that book or much else, the title sounds interesting.

[Rich_by_the_Bay]

Quote:

Originally Posted by zcung JDW, my assets include mostly in RE value around 4.5M, 220K of that is in IRA. Only one child, age 12 at home, 1/2 of college expenses is in place. Though our annual expenses is about 60K, I figured one can live, travel, and give pretty comfortably at 150K a year.

By conventional wisdom, such as it may be, you have enough to live indefinitely and handsomely at that. Only by squandering it would you get into big trouble assuming you stick to a 4%-4.5% withdrawal rate or so (nearly 200K/y) and invest prudently.

Congratulations. *Read up around here to learn how to stay out of trouble financially, and have a great retirement.

[73ss454]

With that much money you can skip the work less part of the book.

[zcung]

Hm... is that all there is? we w*rk out tails off for twenty some years, save more than spend, invest, ... then retire early?

[73ss454]

Quote:

Originally Posted by 73ss454 With that much money you can skip the work less part of the book.

That's it, now go enjoy.

[Nords]

Quote:

Originally Posted by zcung We w*rk out tails off for twenty some years, save more than spend, invest, ... then retire early?

You say that as if it's a bad thing!

[zcung]

I have no ideas what to if I do RE.

[73ss454]

Quote:

Originally Posted by zcung I have no ideas what to if I do RE.

You gotta be kidding! Hey, I guess ER is not for everyone.

[zcung]

What typically FIRE do all day everyday?

[Nords]

Quote:

Originally Posted by zcung I have no ideas what to if I do RE.

Quote:

Originally Posted by 73ss454 You gotta be kidding!* Hey, I guess ER is not for everyone.

Hey, c'mon, we all have to start somewhere! *I remember how frustrated I was when I asked a senior "What would I do?" and was told "Whatever you want!"

Try the "Get A Life Tree" in Ernie Zelinski's "How to Retire Happy, Wild, & Free" and peruse the Kaderli's CD (or download it).

Quote:

Originally Posted by zcung What typically FIRE do all day everyday?

Try these threads:
http://early-retirement.org/forums/i...59689#msg59689
http://early-retirement.org/forums/i...7219#msg107219
http://early-retirement.org/forums/i...78549#msg78549
http://early-retirement.org/forums/i...11137#msg11137
http://early-retirement.org/forums/i...38660#msg38660
http://early-retirement.org/forums/i...66033#msg66033

[zcung]

Thanks Nords, I'll check out those books. I am hoping to receive loads of wisdom from the FIREs on this topic.

[REWahoo]

Quote:

Originally Posted by zcung I am hoping to receive loads of wisdom from the FIREs on this topic.

Loads? You bet.
Wisdom? That's debatable.
Opinions? We've got ya' covered!

[astromeria]

Quote:

Originally Posted by zcung What typically FIRE do all day everyday?

I could tell you what I do*, but that would probably not be what you would do. What do you do on weekends and vacations and if/when you play hooky from work? What do you wish you were doing when you're at work?

* I read, think, listen to music, observe nature, garden, imagine, travel (and plan travel), and do stuff with and talk to my hubby, other family, and friends. I play Sudoku, manage our investments, watch movies and comment on them, plan menus, invent recipes, throw dinner parties, go to dinner parties, walk on the beach, collect & identify seashells, and listen to the surf. I surf the net, play the violin, and go to concerts, plays, and art galleries--and good places to see the sun rise and set. I drive safely, kayak the tidal creeks, observe the human condition, host houseguests and become a houseguest. I try to control my spending on art, music, and books with more or less success. I try to make my husband and children happy--and usually succeed. I look back on my career and my life so far with satisfaction--and feel glad that the career part is over now Really, there aren't enough hours in the day!

[dumpster56]

Quote:

Originally Posted by zcung What typically FIRE do all day everyday?

I will probably get up at 8am run 10 miles, take the kayak out on the lake for a few hours, work part time at a health food store, eat a nice dinner with my wife have fun do it all again the next day.

Take trips, have fun like a high school senior in june !

[Leonidas]

Z - our situations have some similarities. I'm a year younger, have about 300K less in assets than you (madeup for by a lifetime pension starting at 53K with health insurance forever) although very little of mine is in real estate. Two kids, oldest is almost 18.

What I really wanted to do almost two years ago when I stopped working was take the kids out of school and hit the road. My plan was to "home school" them for a year and take the family to every interesting out of the way place I could think of. If I had known then what I know now, I would have done it - but both kids consistently test in the 99th percentile in science and I was struggling even then helping out with my oldest son's homework. By the time I figured out a way I could have done it (schools accept distance learning and there are a couple of in state universities with good HS DL programs) he was in all honors/AP classes and taking chemistry, algebra II, physics and biology II - all at the same time. We were way past my skill level, and in fact I hired a grad student and a NASA scientist to tutor him in a couple of subjects.

In the end it worked out well that I decided against pursuing my plan - he struggled this past year and has to retake Spanish (how the heck do you fail HS Spanish?) and a quarter of Physics over the summer. We're doing correspondence courses (which will help me work on my tutoring skills).

But now I am reconsidering my plan and taking a year to travel after the oldest one has gone off to college. The younger son takes all honors classes in MS and makes all A's and makes it look easy.

I'm just now researching the options, but I think that this is the kind of adventure that being FIRE'ed with kids still at home is all about.

[zcung]

Thank you Nords for the links and everyone else comments. I did not read all the threads by each word but it seems FIREs daily life is too routine and (to me) may be even boring... IM refering to "Up at 5/6, drink coffee, walk the dogs, lounge around, eat lunch, take a knap, excercise, eat dinner, go to bed... and repeat)

I am not much of a debater here but again, is that all there is? shouldn't we all being doing something more with our lives after ER? and I am not talking about volunteerism or charity w*rk. I am listening...