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Almost FI
Old 02-05-2012, 05:25 PM   #1
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Almost FI

I hadn't played with my numbers in Firecalc for a long while, so I spent a good part of the morning on it, and realized that according to Firecalc I am FI now or at least very soon, depending how you want to look at it.

Little background: When I wrote my initial introduction here (Is there a way out of this maze?) about a year and half ago I was at a peak of frustration and just about burned out. After that a few significant things happened: a couple of senior level retirements from the megacorp suddenly improved the culture to almost tolerable level, the company had a very profitable year and paid out superb bonuses, and well ... the stock market happened. Also, following the advice in the responses to my initial posts DW and I have since taken several longer vacations together away from it all, and spent lots of time talking about desirable and/or optimal timing of RE for each of us. We basically came to the conclusion that she really does not want to retire for at least another 5-6 years yet, and that she would have no issues with me retiring several years before her (as long as I clean the house). The tentative plan we drafted together was that I would retire 2014 after my 50th birthday and DW would follow a few years later.

Anyhow, this morning I noticed the various discussions about January market run, glanced at my portfolio, and started plugging numbers into Firecalc. First I entered our current portfolio value, our current expense level times 1.5, and myself retiring immediately and DW in 2018. It came back as 100%!! Then I wanted to be a bit more conservative and assumed SS and our three small pensions (start at 65 - 67) all zero, and still got 100%. Lastly I added back in the pensions and 50% of SS, and had Firecalc calculate the earliest year DW could retire if I retire now, and it gave her a retirement year 2014!! I was amazed what just one and half financially good years had done to us.

I must admit that as nice as it was to see these results, I'm not going to quite believe it yet. Probably going to find every other calculator there is and run our numbers through them a few hundred times yet. In any case, the way things are going right now I'm probably going to stick with my tentative retirement day at the end of 2014. Definitely makes me feel nice to know that DW can probably retire at the same time with me if she changes her mind by then. In the meanwhile, I'm spending my Sunday evening in the office to be prepared for the starting w@rk week.
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Old 02-05-2012, 05:44 PM   #2
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Quote:
Originally Posted by Grainiac View Post
In the meanwhile, I'm spending my Sunday evening in the office to be prepared for the starting w@rk week.
I sure don't miss those miserable ends to my weekend.

If I were you I'd do those confirmation runs over the next few months and, when you see they reinforce what FIRECalc tells you, pull the plug sooner than 2014. Why prolong your misery when the solution is yours for the asking?
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Old 02-05-2012, 05:45 PM   #3
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EnjoyFI!!!
IMHO FI is more important than RE. Now you can work or not work as you choose. I worked a couple years past my earliest possible date. I would have stayed on if my old boss was there. Being FI positively changed my experience of work, it jerk proofed my work life.
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Old 02-06-2012, 04:04 AM   #4
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Like you I am also amazed what just a few months do to my projections. The time factor seems to be more significant than savings levels.

Quote:
Originally Posted by Grainiac View Post
I was amazed what just one and half financially good years had done to us.
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Old 02-06-2012, 08:27 AM   #5
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The great thing about achieving FI is that you can bring a little perspective to work. I remember it making things a lot more tolerable for a while. Then one morning I woke up and thought, "I don't need to do this anymore and I don't want to." I gave notice as soon as I arrived at work that morning. Stick with 2014 for now but know that you can change your mind at any time.
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Old 02-06-2012, 08:28 AM   #6
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IMHO FI is more important than RE. Now you can work or not work as you choose. I worked a couple years past my earliest possible date. I would have stayed on if my old boss was there. Being FI positively changed my experience of work, it jerk proofed my work life.
+1. Congrats Grainiac!

And like REW, the Sunday night dread is an interesting phenomena. I retired 7 months ago, and I still have to remind myself to relax some Sunday evenings. 35 years of conditioning is hard to break...
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