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Old 09-28-2012, 06:22 PM   #1
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About six months ago we met with our financial advisor and received some great news. Looks like without any further investments we will be able to retire when I reach 55, which is about 11 years from now. Of course we will continue to max out our 401k accounts and other taxable regular investments, just would not feel right about spending for sake of spending. Any way, since I received this news I have little to no motivation when it comes to work. We have worked hard, saved and lived well below our means and now that we have reached this goal I sort of feel like that I can take the foot off of the throttle and ride out the next 11 years.

Has anyone else experienced this lack of motivation? Any advice?

Thanks in advance for any responses.
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Old 09-28-2012, 06:43 PM   #2
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First of all - congrats on the good news.....But, I would save like a mad man and knock that 11 years down to 5 more years working - 11 years sounds like a long time not to be motivated. Maybe even torturous.
Is there a reason you have to stay 11 years like health care of pension?
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Old 09-28-2012, 08:01 PM   #3
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First of all - congrats on the good news.....But, I would save like a mad man and knock that 11 years down to 5 more years working - 11 years sounds like a long time not to be motivated. Maybe even torturous.
Is there a reason you have to stay 11 years like health care of pension?
+1 Sooner is better, if you ask me.
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Old 09-29-2012, 12:35 AM   #4
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Sounds like good news but I might just double check his assumptions. After all he will benefit from another 11 years of whatever you pay him. If, 11 years from now, he says 'sorry', what will you do?
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Old 09-29-2012, 02:08 AM   #5
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I sort of feel like that I can take the foot off of the throttle and ride out the next 11 years.

Has anyone else experienced this lack of motivation? Any advice?
Do you think you can stay in the job for 11 years without motivation? Personally, I don't think I could do that.
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Old 09-29-2012, 10:26 AM   #6
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Yeah. Once my investment portfolio's annual returns started to exceeded my salary on a regular basis I was far less inclined to go the extra mile to try to get a ~3.7% raise on an 18 month basis rather than a 2.6%.



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Old 09-29-2012, 11:26 PM   #7
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You still have 11 years to go per your plan. Hopefully sooner if you keep saving. If you start spending more, then maybe even a little longer. And that 11 years depends on some kind of average investment returns I assume. Not much certainty in all of that. Enjoy cruise mode, but don't get fired...
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Old 09-30-2012, 04:58 AM   #8
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Originally Posted by Donzo View Post
First of all - congrats on the good news.....But, I would save like a mad man and knock that 11 years down to 5 more years working - 11 years sounds like a long time not to be motivated. Maybe even torturous.
Is there a reason you have to stay 11 years like health care of pension?
+1

Eleven years is definitely torturous. I've only started to get fed up with the bu11sh^t extremely frustrated by work in the past 1-2 years, and it's very mentally draining. I can't imagine living like that for 11 years; you'll be sampling your own wares,

I'd also say that a lot can happen in 11 years. I don't know the underlying assumptions in your FA's model but, you had better know them - and be absolutely confident in them. That's why I like Donzo's advice. Impact what you have almost complete control over; spend less, save like mad for 5+/- years, then you can choose.

Best of luck.
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Old 10-01-2012, 03:48 PM   #9
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+1

Eleven years is definitely torturous. I've only started to get fed up with the bu11sh^t extremely frustrated by work in the past 1-2 years, and it's very mentally draining. I can't imagine living like that for 11 years; you'll be sampling your own wares,

I'd also say that a lot can happen in 11 years. I don't know the underlying assumptions in your FA's model but, you had better know them - and be absolutely confident in them. That's why I like Donzo's advice. Impact what you have almost complete control over; spend less, save like mad for 5+/- years, then you can choose.

Best of luck.
+1 good insights.

P.S. 11 months can be torture in some circumstances.
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Old 10-01-2012, 04:38 PM   #10
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he said you can retire in 11 years without any further investments. He didn't say that you could retire now and start eating into your nest egg. That should be motivation enough to keep working.
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Old 10-01-2012, 04:58 PM   #11
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I agree you don't need to have your foot on the gas pedal all the time, but you still have an obligation to give value for money (i.e. your paycheck). Isn't there some way you can switch gears and still work for the same company? When I find myself demotivated, I usually go to the boss with some idea and next thing you know, I'm "leading" development of the idea. Due to the way we are paid in Federal service, I haven't had a real pay raise in years, but variety does keep me going.

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. Any way, since I received this news I have little to no motivation when it comes to work. We have worked hard, saved and lived well below our means and now that we have reached this goal I sort of feel like that I can take the foot off of the throttle and ride out the next 11 years.

Has anyone else experienced this lack of motivation? Any advice?

.
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Old 10-01-2012, 07:09 PM   #12
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I would also want to know more about the assumptions the FA used.

What did he assume would be the real annual return of your portfolio? 2%, 5%, 20%?

20% would mean you could retire on 200K in 11 years with no more investments
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