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I hit my ESR numbers...
Old 03-03-2015, 04:09 PM   #1
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I hit my ESR numbers...

So, I pulled it off and have hit my ESR numbers just recently. Woo hoo! I now generate enough stock dividends in my taxable account that all I need to do is work an easy 20 hour a week part-time job and I can maintain my standard of living indefinitely.

My living expenses turned out to be higher than I thought (about $30k) but I could get them down to $24k pretty easily. Main thing I'd need to do is move into a smaller apartment (not a problem). My stock dividends for this year are going to be about $13,500. Dividend growth rate should be at least 3%. So probably an extra $405 next year at a minimum.

With my pension (15 years vested so far), social security, Roth IRA, 401k, and dividend growth from my brokerage investments, then I should also be able to completely retire easily when I am 59 1/2. I will turn 39 this year.

It felt good to hit my numbers and I've been thinking about part-time jobs I wouldn't mind doing. Examples: retail (movie theatre, video game store, book store), online (IT work, help desk, customer service).

I've decided that I'm not going to make any changes for at least another year. Not really sure what I will do just yet... It wouldn't hurt to build up dividend income to at least $15k... or maybe go for $20k...

There's actually a lot of stressful/annoying things going on at work recently. Its really tempting to think about bailing out and just go work at Gamestop for 20 hours a week... Unfortunately, I'm too chicken to do it yet.

So, I'm just going to go another year and then re-evaluate...
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Old 03-03-2015, 04:26 PM   #2
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Quote:
Originally Posted by ESRwannabe View Post
So, I pulled it off and have hit my ESR numbers just recently. Woo hoo! I now generate enough stock dividends in my taxable account that all I need to do is work an easy 20 hour a week part-time job and I can maintain my standard of living indefinitely.

My living expenses turned out to be higher than I thought (about $30k) but I could get them down to $24k pretty easily. Main thing I'd need to do is move into a smaller apartment (not a problem). My stock dividends for this year are going to be about $13,500. Dividend growth rate should be at least 3%. So probably an extra $405 next year at a minimum.

With my pension (15 years vested so far), social security, Roth IRA, 401k, and dividend growth from my brokerage investments, then I should also be able to completely retire easily when I am 59 1/2. I will turn 39 this year.

It felt good to hit my numbers and I've been thinking about part-time jobs I wouldn't mind doing. Examples: retail (movie theatre, video game store, book store), online (IT work, help desk, customer service).

I've decided that I'm not going to make any changes for at least another year. Not really sure what I will do just yet... It wouldn't hurt to build up dividend income to at least $15k... or maybe go for $20k...

There's actually a lot of stressful/annoying things going on at work recently. Its really tempting to think about bailing out and just go work at Gamestop for 20 hours a week... Unfortunately, I'm too chicken to do it yet.

So, I'm just going to go another year and then re-evaluate...
CONGRATULATIONS!! Is great to have options esp. at your age.
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Old 03-03-2015, 04:29 PM   #3
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I'm perplexed.... what's E"S"R?
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Old 03-03-2015, 04:32 PM   #4
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I'm perplexed.... what's E"S"R?
I took that as "Early Semi-Retired" since OP mentions maintaining some form of employment at this dividend income level.
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Old 03-03-2015, 04:44 PM   #5
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I took that as "Early Semi-Retired" since OP mentions maintaining some form of employment at this dividend income level.
Yup that's it. I picked the lingo up here somewhere along the line...

ESR just means you can switch to an easy part-time job and maintain your standard of living. The goal is to do something relatively fun and non-stressful, while having a lot more free time than you used to have.

Benefits of ESR over full retirement are that it is *much easier* to pull off financially, and you don't take yourself completely out of the work force. So its easier to adjust your income by simply working more or less. Fully retiring and then wanting/needing to start working again is theoretically harder to pull off than someone already working part-time just adding more hours or picking up another part-time job.

My ESR goal was always to generate 50% of living expenses from taxable investments, which I have essentially done...
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