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Old 07-17-2011, 02:33 AM   #21
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Originally Posted by Hiredgun View Post
3 Million sounds like plenty to retire on. I'm hoping to check out at 45 to 46 with $3-4M.

But then I read posts like this one on Bogleheads:
Bogleheads :: View topic - Help with retiring early - How to plan 10 years out

And I start to question myself. Read the responses from Afan. I'm sure he is of a different mindset than most on this board, but it's a constant battle: worry about running out of money versus waiting too long and not having time to enjoy it.
Interesting thread. The OP's plan there is to continue working like crazy (60 -70 hrs/week) for the next 10 years and hope to accumulate $2MM so he could consider retiring at 45 while his wife, 10 years his junior, continued working, pulling in $50k/yr. That sounds like a decent plan to me particularly since he stated from the start that it had plenty of "ifs" and "buts".

10 years is a long time and he will be much more learned when he gets to age 45 and has 10 years of married life and investing experience to draw on. I think Afan is far too conservative to think that one has to be "seriously rich" for a spouse to retire at age 45. My DW RE'ed at 48, at my suggestion, without us being rich, while I worked another 6 years to secure a pension and retiree health insurance.

Back to this thread, and July 15th is now passed so I expect REattempt has now pulled the plug and joined the class of 2011. I think he is going to do just fine.

So, did you do it??

Retired in Jan, 2010 at 55
Now it's adventure before dementia
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Old 07-18-2011, 08:20 AM   #22
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Update... is where I'm at.

Best laid plans of Mice and Men. So, was selling the business set to close in June. Was going to give notice on July 15, last day July 31.

It closed, but what was originally communicated as my share was larger than the actual $ at close. (I shouldn't be surprised) AND I still don't have final accounting for the numbers, so I don't know what the tax burden/tax issues are...the swing could be as much as 100K. Was also going to have health care lined up through former employer and that is taking longer than expected. As a result, I'm standing pat until I have loose ends tied up.

Finally, as Chris2008 suggested, I got the book: "Get a Life" by Ralph Warner. My issue is still primarily the money, but I don't think I got what people were saying about the issue not being the money. Work less, live more and the Zelinksi books didn't ring the bell for me. Get a life rang the bell. I guess what I am saying is that I got Warner's point where I didn't get it from the others. I don't have a plan. I've spent so much time working with this thought of the doors openning, the sun shining in and grand music playing when I retire and I may be in for a rude awakening. Over the last couple weeks, I've been leaving at 5pm, spending time with my daughter and DGF, which has been great, but the slow realization has hit me that I need to spend some time rebuilding balance in my life and putting a plan together for what I will do next. Getting my ducks in a row, so to speak.

It seems like I'm now on a path of discovery of the next phase. It seems like it will take some time to unfold, much like a flower in a new day.

Any experiences out there on how others put their plan together or how the next phase unfolded?

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