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View Poll Results: Financial Situation When you FIRED
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>= 62 Years Old and Achieved Portfolio target (Pushed to Retire)
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1 |
1.10% |
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>= 62 Years Old and Achieved Portfolio target ( Decide to Retire)
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3 |
3.30% |
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>= 62 Years Old and Did not Achieve Portfolio target (Pushed to Retire)
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1 |
1.10% |
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>= 62 Years Old and Did not Achieve Portfolio target ( Decide to Retire)
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0 |
0% |
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>= 62 Did not have a portfolio target
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0 |
0% |
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< 62 Years Old and Achieved Portfolio target (Pushed to Retire)
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9 |
9.89% |
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< 62 Years Old and Achieved Portfolio target ( Decide to Retire)
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45 |
49.45% |
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< 62 Years Old and Did not Achieve Portfolio target (Pushed to Retire)
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3 |
3.30% |
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< 62 Years Old and Did not Achieve Portfolio target ( Decide to Retire)
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10 |
10.99% |
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< 62 Did not have a portfolio target
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19 |
20.88% |
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06-04-2008, 12:30 AM
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#21
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Recycles dryer sheets
Join Date: Feb 2006
Location: Valencia
Posts: 173
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I worked for Megacorp for 34 years. At 56, I had a choice of retiring with a nice lump sum. So, I did calculations from all angles. Could I retire at 56? Well, it basically came down to this......... Do I want to retire early? and buy a new Toyota Corolla every 5 years? Lead a Toyota Corolla lifestyle? Is that enough? or do I want more? Do I want a Lexus/Infiniti lifestyle?
I decided that my wife and I could exist ok on a Toyota Corolla lifestyle. It's been 11 months now. I have no regrets. She's ok with it. I have a guaranteed Corolla lifestyle. At 56, I can still go back to work if I need the Lexus/Infinity.
Geez, it sounds like I've decided to become a slacker. Seriously, I just realized that I've become a slacker. Woo hoo.
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06-04-2008, 08:13 AM
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#22
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2007
Location: New Orleans
Posts: 47,500
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 Quote:
Originally Posted by albundyz
I worked for Megacorp for 34 years. At 56, I had a choice of retiring with a nice lump sum. So, I did calculations from all angles. Could I retire at 56? Well, it basically came down to this......... Do I want to retire early? and buy a new Toyota Corolla every 5 years? Lead a Toyota Corolla lifestyle? Is that enough? or do I want more? Do I want a Lexus/Infiniti lifestyle?
I decided that my wife and I could exist ok on a Toyota Corolla lifestyle. It's been 11 months now. I have no regrets. She's ok with it. I have a guaranteed Corolla lifestyle. At 56, I can still go back to work if I need the Lexus/Infinity.
Geez, it sounds like I've decided to become a slacker. Seriously, I just realized that I've become a slacker. Woo hoo.
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I don't think you're a slacker. Who wants a Lexus anyway? It'll just get all scratched up in parking lots. 
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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06-04-2008, 09:12 AM
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#23
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Thinks s/he gets paid by the post
Join Date: Jul 2006
Location: Denver
Posts: 3,519
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I ER'd last month, but plan to keep the option of returning to work at the back of my mind. I turn 48 later this year and DW will turn 45. We have so many years ahead of us that I don't think it is possible to be certain that we have enough. All the calculators I know about give us the green light, and that was enough to give it a shot.
The quality of work was not the primary reason for this decision - it was the lack of time to do much of anything else that motivated me to take this step.
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06-04-2008, 09:14 AM
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#24
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Full time employment: Posting here.
Join Date: Feb 2006
Posts: 987
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"Those who fail to plan, plan to fail"...
Looks like the poll shows this.
- Ron
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06-04-2008, 11:33 AM
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#25
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 2,612
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Quote:
Originally Posted by playaman
July 3 will be my last day of work (though officially on payroll through July 31), and I turn 61 a few days thereafter. I shot well past my FIRE goal three or four years ago but have seen my portfolio tumble considerably since then. Even so, I'm still on the plus side and one month is a deliciously short period of time. Technically, I suppose I should not have participated in the poll but I'm considering myself more and more FIREd each day.
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Playaman,
That's kinda how it goes. My last day was May 9, but I'm on payroll through July 11. And so far it's been great!
-- Rita
__________________
Only got A dimple, would have preferred 2!
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06-04-2008, 12:17 PM
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#26
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Dryer sheet aficionado
Join Date: Nov 2007
Posts: 44
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Since this is an ER site, seems appropriate that most responders were less than 62. Doesn't compute to failure as I see it.
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06-06-2008, 08:29 AM
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#27
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 7,677
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I am surprised at the large number (>20%) that retired early without a plan. Were they forced out or was it opportunisitic?
__________________
For the fun of it...Keith
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06-06-2008, 10:12 AM
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#28
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Gone but not forgotten
Join Date: Aug 2006
Posts: 6,924
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Quote:
Originally Posted by kcowan
I am surprised at the large number (>20%) that retired early without a plan. Were they forced out or was it opportunisitic?
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My health was going downhill rapidly, and there was an early out offer due to a RIF.
__________________
"Knowin' no one nowhere's gonna miss us when we're gone..."
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06-06-2008, 10:16 AM
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#29
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Recycles dryer sheets
Join Date: Apr 2008
Posts: 174
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My 2 shillings
Quote:
Originally Posted by kcowan
I am surprised at the large number (>20%) that retired early without a plan. Were they forced out or was it opportunisitic?
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Well, the initial plan was to accumulate as much as you could, and then some. It worked!, So out we went!!!!
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06-06-2008, 11:49 AM
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#30
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Full time employment: Posting here.
Join Date: Feb 2006
Posts: 987
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Quote:
Originally Posted by kcowan
I am surprised at the large number (>20%) that retired early without a plan. Were they forced out or was it opportunisitic?
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**** happens - Wikipedia, the free encyclopedia
Of course, the wonderful automatic editing changed the first name, but you can look it up on your own...
Hint - the first two characters are "sh" followed by "it"...
- Ron
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06-06-2008, 11:58 AM
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#31
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Thinks s/he gets paid by the post
Join Date: Apr 2007
Posts: 1,305
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Quote:
Originally Posted by kcowan
I am surprised at the large number (>20%) that retired early without a plan. Were they forced out or was it opportunisitic?
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The question asked was about a 'portfolio target'. I had a 'time target' (30 years). When I got there (actually a few years before) I reviewed where my portfolio was and had more than enough to sustain my desired lifestyle.
So that is ONE answer on why the number was over 20%.
__________________
Life is GREAT!
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06-06-2008, 01:42 PM
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#32
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Recycles dryer sheets
Join Date: Feb 2008
Posts: 50
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Probably like others here I had a good idea of what I needed but in general not a "number"; DH had the Fed pension and retired 4 years ago. I thought I would retire at 55 but things went downhill at work and I found I needed out at 53, about 18 months ago. The last 2 years of work would have just been nice extra money we are doing fine. All you Living Below Means, know after years of living on 1/2 your income then you retire and you don't have to pay SS tax and the Fed. and St. tax go way down and you don't have work expenses like all that expensive gas to go back and forth to work. Life is good! I encourage all that are close to come on in the water is fine! 
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06-06-2008, 01:56 PM
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#33
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Thinks s/he gets paid by the post
Join Date: Jan 2008
Posts: 2,020
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Not that I'm saying anything, but you should have added a poll option for "just one more year...". I'm sure it would have gotten at least one vote.
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06-07-2008, 09:18 PM
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#34
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,128
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Quote:
Originally Posted by chinaco
I do not see a buyout in my future, but I can take ER at 55 and get my pension and benefits... that is 3 years off.
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I didn't vote as I am in a similar situation. I have met my portfolio target assuming the pension plan and retiree health benefits do not change in the next 20 months when I make 55 which is by no means certain. If the pension plan changes drastically I will still RE at 55 unless my portfolio really tanks really badly
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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