Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
anyone retiring on a specific date regardless of $
Old 01-19-2015, 06:31 PM   #1
Dryer sheet aficionado
 
Join Date: Feb 2013
Posts: 33
anyone retiring on a specific date regardless of $

I see frequent post regarding a certain "number" or SWR. I'm fully committed to retiring at age 50 regardless of what I have saved. Is there anyone else planning for an age or benefit based retirement as opposed to a dollar amount? In my case, age 50 brings good retiree health care benefits. The market will dictate my income; probably between $50,000 and 70,000/yr. This is significantly less than my current expenses but i live in a high cost city and will for sure move to a less expensive area. i will have no debt so i'm essentially forcing myself to live with this new budget. I can't be the only one doing this. Any one else?
__________________

MatatuPuncher 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!

Old 01-19-2015, 06:51 PM   #2
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 43,356
Not me, but I think you're describing the opposite of OMY - No More Years!
__________________

__________________
Numbers is hard

Although rare, it is possible to read something on this forum you don't agree with and simply move on with your life

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 01-19-2015, 07:23 PM   #3
Recycles dryer sheets
 
Join Date: Oct 2014
Posts: 475
I love the idea. Ballsy! Good luck.
__________________
-Big Dawg-FI since 9/2010. ER in 2015(failed-mentally not $$). Now back for TMY's.

" People say I'm lazy, dreaming my life away Well, they give me all kinds of advice designed to enlighten me When I tell them that I'm doing fine watching shadows on the wall "Don't you miss the big time, boy. You're no longer on the ball" -John Lennon-
Bigdawg is offline   Reply With Quote
Old 01-19-2015, 07:26 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2013
Posts: 5,573
Quote:
Originally Posted by MatatuPuncher View Post
I see frequent post regarding a certain "number" or SWR. I'm fully committed to retiring at age 50 regardless of what I have saved. Is there anyone else planning for an age or benefit based retirement as opposed to a dollar amount? In my case, age 50 brings good retiree health care benefits. The market will dictate my income; probably between $50,000 and 70,000/yr. This is significantly less than my current expenses but i live in a high cost city and will for sure move to a less expensive area. i will have no debt so i'm essentially forcing myself to live with this new budget. I can't be the only one doing this. Any one else?
One day we just added up what we had between pensions, SS and investment income and realized it was more than enough if we optimized our expenses better. We printed out the Consumer Expenditure Survey side by side with our budget and realized, even factoring in residing in a high cost of living area, we were needlessly spending way too much on areas like groceries, insurance, utilities, eating out and hair salons, and we'd rather spend less and not have to work full-time.

We cut a lot and still live in the same house, actually drive nicer cars and even eat out more than we did before. We just went through the budget and optimized every expense down to brand of toilet paper, and it all added up enough to be FI.

Added: We have a very conservative portfolio and will try to live mainly on SS + pensions, so not much market risk for us. We just optimized expenses to live on a very conservative AA (0 - 1%) real.
__________________
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)
daylatedollarshort is offline   Reply With Quote
Old 01-19-2015, 07:43 PM   #5
Recycles dryer sheets
 
Join Date: Sep 2014
Posts: 52
Yes - The absolute latest time I plan to ER coincides with my 55th birthday.
KrissK is offline   Reply With Quote
Old 01-19-2015, 08:30 PM   #6
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 1,495
Here's the problem with that question: there really is no "right" answer as it almost entirely rests on your tolerance for risk. There was a fiery if not highly educational debate recently at the BH forum regarding the 4% SWR debate. Yes, that debate is (very) old, but in that thread it essentially amounted to a stand off between those that would risk retiring early and running out of money and those who couldn't or wouldn't take that risk.

The whole MMM controversy on an earlier thread on this site included much criticism of the MM's approach to risk. Personally my (tennis) balls get smaller by the day so I could never make the leap to retire regardless of how much I'd saved. Yes I worked more/saved more and yes it did just about kill me but I consider having bought peace of mind with it now that I am retiring in just a few weeks.

OTOH, your (tennis) balls may be much larger than mine.
Options is offline   Reply With Quote
Old 01-19-2015, 11:29 PM   #7
Thinks s/he gets paid by the post
Lakewood90712's Avatar
 
Join Date: Jul 2005
Posts: 1,374
As long as you will have no debt. and/or kids in college, you should be ok . The worst that could happen is having to work temporarily or part time. Not a show stopper.

I set my original departure at the minimum years to be vested for partial retiree medical subsidy. I stayed 2 years longer and regret it . I should have gone then.

If you can afford to go , and don't enjoy work , take the opportunity . Very few have the choice.
__________________
I'm not an Attorney , But I have watched " My Cousin Vinny " Several times.
Lakewood90712 is offline   Reply With Quote
Old 01-20-2015, 05:05 AM   #8
Dryer sheet aficionado
 
Join Date: Feb 2013
Posts: 33
I appreciate everyones input. I'm planning on a 3% SWR at age 50 which i feel is fairly conservative. I'm also not planning on any social security at all so whatever benefits are available to me at age 70 will be icing on the cake. I've had widely varying income throughout my life and i've always managed to live below my means and save at least 10%. $50,000 and a paid for small house should be doable in many areas of the country I think. We shall see!
MatatuPuncher is offline   Reply With Quote
April 1st 2017
Old 01-20-2015, 08:53 AM   #9
Recycles dryer sheets
 
Join Date: Jun 2012
Location: Seattle
Posts: 79
April 1st 2017

DW is retiring 4-1-17, 30 years + 1 week govt service, pension and retiree HC then avail. Firecalc has us at 99%+. That's good enough for me, as well.

Plus, we appreciate the symmetry of April Fools Day and our so called careers.................in my best 60's hippie accent,......the final three years have been a real drag, man.
jime444 is offline   Reply With Quote
Old 01-20-2015, 09:01 AM   #10
Thinks s/he gets paid by the post
 
Join Date: Aug 2005
Posts: 2,104
My goal is 4/2/20, which is my 50th birthday. Give or take, depending on how well the stock market does, and how quickly the BS buckets fill up at work.
Andre1969 is offline   Reply With Quote
Old 01-20-2015, 09:16 AM   #11
Recycles dryer sheets
 
Join Date: Jun 2014
Posts: 406
I would have if I was single. Since I was not I ended up with a few OMY. I could delay now only if another Black Monday happened...that might give me pause to recalculate things (note I've done that scenario after retirement but not just before when I could hit the pause button)

No pension/HC so it's all on me
__________________
If money is the root of all evil I want to be a bad man
nuke_diver is offline   Reply With Quote
anyone retiring on a specific date regardless of $
Old 01-20-2015, 09:27 AM   #12
Moderator Emeritus
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 40,151
anyone retiring on a specific date regardless of $

I retired on the first day when I was eligible to officially retire back in 2009. I had a backup plan of retiring on my 62nd birthday, seven months later, but did not have to do that. Being a worrier by nature, I worked at LBYM and planning to the point of overkill and beyond. The 2008-2009 recession was SO unnerving but I bought instead of selling, kept working at LBYM, and managed to retire just as planned.

There's nothing better than seeing a long term plan unfolding as it should, despite obstacles.


Sent from my iPad using Early Retirement Forum
__________________
5/17/2018: Retired a second time, this time from my volunteer Admin duties. After 10 years of being on the team, and 40,000+ posts, the time just seemed right. It has been such fun to work with all of our Mods and Admins and I plan to stick around as a regular member.
W2R is online now   Reply With Quote
Old 01-20-2015, 10:51 AM   #13
Thinks s/he gets paid by the post
RetireAge50's Avatar
 
Join Date: Aug 2013
Posts: 1,151
Yes. Age 50 for us too. Income will be whatever it is and adjusted each year based on market conditions.
RetireAge50 is online now   Reply With Quote
Old 01-20-2015, 01:46 PM   #14
Recycles dryer sheets
 
Join Date: Jun 2002
Posts: 368
Yeah, my latest calculations for me working until 50 looks really really good. similar income and withdrawal rate that you are looking at as well. So, yeah, I'll throw my hat in the 2020 ring, and I really like April fools day to retire!
So, here's to retiring on April 1st, 2020!
__________________
When you walk in the shadow of insanity, the presence of another mind that thinks and acts as yours does is something close to a blessed event. -Robert Pirsig, Zen and the Art of Motorcycle Maintenance
panhead is offline   Reply With Quote
Old 01-20-2015, 02:21 PM   #15
gone traveling
 
Join Date: Sep 2013
Posts: 1,248
Quote:
Originally Posted by KrissK View Post
Yes - The absolute latest time I plan to ER coincides with my 55th birthday.
+1 I plan to retire exactly on 55th birthday.
eta2020 is offline   Reply With Quote
Old 01-20-2015, 02:51 PM   #16
Dryer sheet aficionado
 
Join Date: Feb 2013
Posts: 33
Quote:
Originally Posted by RetireAge50 View Post
Yes. Age 50 for us too. Income will be whatever it is and adjusted each year based on market conditions.
Very appropriate considering your user name
MatatuPuncher is offline   Reply With Quote
Old 01-20-2015, 03:55 PM   #17
Thinks s/he gets paid by the post
Spanky's Avatar
 
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,125
Our SWR goal is 2.5%, which has been reached already. Age is TBD as OMY is in effect. We have no debts except for one kid is still in college but feel that we need more if we ended up moving to the Bay Area to be closer to DD. My thought is to live about 60 miles north of Silicon Valley (e.g., Concord, Vallejo, Brettwood) where housing is somewhat affordable.
__________________
May we live in peace and harmony and be free from all human sufferings.
Spanky is offline   Reply With Quote
Old 01-20-2015, 04:14 PM   #18
Thinks s/he gets paid by the post
 
Join Date: Feb 2013
Location: Toronto
Posts: 1,576
I had a specific date. April 30. I didn't have a specific year but once we got well past the number it just became a Clint Eastwood mash-up, 'A man's got to know his limitations' and 'Go ahead, make my day'. One day the buckets wound up full and that was it, the next April 30 on the calendar was the day. And yes Harry, I do feel lucky. Thanks for all the words of wisdom through the years.
6miths is offline   Reply With Quote
Old 01-20-2015, 05:37 PM   #19
Recycles dryer sheets
 
Join Date: Jan 2007
Posts: 398
Quote:
Originally Posted by KrissK View Post
Yes - The absolute latest time I plan to ER coincides with my 55th birthday.
I have you beat by a couple years. The absolute latest time I plan to ER coincides with my 53rd birthday. Oh, wait. That was 2 years ago. I'm now in 3xOMY.
Shawn is offline   Reply With Quote
Old 01-20-2015, 06:03 PM   #20
Thinks s/he gets paid by the post
 
Join Date: Jun 2014
Posts: 1,707
We did that at ages 53 & 58. We did it based on what we had-making it work. However, we both consult in our fields p.t. because we want to. Some day we will get sick of it & quit but right now we love it. We can live on our pensions alone.
__________________

Teacher Terry 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


Similar Threads
Thread Thread Starter Forum Replies Last Post
Maybe old news but pretty sobering regardless ! frayne FIRE and Money 59 08-14-2012 10:17 AM
Anthem settlement: open enrollment regardless of pre-existing free4now Health and Early Retirement 9 05-07-2012 11:25 PM
Your accounts will pass to your account beneficiaries regardless of your will JustCurious FIRE and Money 21 03-22-2008 03:35 AM
Remember Date You Retired?...Know Date You Will Retire? Danny Other topics 35 07-09-2007 12:02 PM

 

 
All times are GMT -6. The time now is 11:34 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.