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Just ER'd today
Old 07-14-2006, 02:22 PM   #1
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Just ER'd today

Well I just pulled the plug today Whew!! can't believe I had the guts.
I've been grinding on this decision since my company went bankrupt last september. Couldn't take the negativity and the daily bad news in the office.
I'm 50 years young and DW is turning 52 this sunday, we have approx 910K in assets (75% in IRA's 401ks) not including the house(s), Taking the lump sum pension option before the company terminates the plan and planning on rolling my 401k and lump to VG.
We'll be selling the our house in the northwest and moving to our "investment" house in tucson which will be paid off after the sale of the house up north.
hopefully will get by on 40k per year in expenses. hopefully things will work out!!

thanks to the FORUM for all the good information I've been able to get and hearing of members experiences dealing with ER and finances.

sorry for fragmented post but my mind is racing at maxium rpm's.
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Re: Just ER'd today
Old 07-14-2006, 02:25 PM   #2
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Re: Just ER'd today

Let me be the first one to say "CONGRATULATIONS!" 8) Sounds like you are pulling the plug at just the right time too!
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Re: Just ER'd today
Old 07-14-2006, 02:27 PM   #3
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Re: Just ER'd today

Congratulations! Keep us posted on your adjustment to life in ER!
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Re: Just ER'd today
Old 07-14-2006, 02:37 PM   #4
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Re: Just ER'd today

Congratulations! Hopefully you picked a good time, and hopefully you'll enjoy the experience and consider it a wise decision as time goes by!
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Re: Just ER'd today
Old 07-14-2006, 04:16 PM   #5
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Re: Just ER'd today

Wow! Congratulations! Buy yourself a beer from me.
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Re: Just ER'd today
Old 07-14-2006, 04:42 PM   #6
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Re: Just ER'd today

Congratulations on your promotion to ER.

The next phase of your life is just begining. I hope you enjoy your move to AZ it will be a big difference from Pac. NWest. But it is a Dry heat.

Getting out of the meat grinder can only do you good. The money issues will resolve themselves as long as are mindful of what you do. For now, enjoy the lowered stress levels in your life. Once you get moved things will settle down more and you can kick back and really relax.
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Re: Just ER'd today
Old 07-14-2006, 04:50 PM   #7
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Re: Just ER'd today

Congrats! I will be in your shoes in a few months too. I'm looking forward to the feeling.*
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Re: Just ER'd today
Old 07-15-2006, 04:26 AM   #8
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Re: Just ER'd today

Congrats. Enjoy the feeling of spaciousness!
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Re: Just ER'd today
Old 07-15-2006, 07:38 AM   #9
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Re: Just ER'd today

Congratulations - wonderful to see folks taking the plunge. Gives the rest of us confidence seeing others that ER young like this.
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Re: Just ER'd today
Old 07-15-2006, 08:53 AM   #10
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Re: Just ER'd today

Yes good luck, sounds like a GREAT idea!!!!
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Re: Just ER'd today
Old 07-15-2006, 09:40 AM   #11
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Re: Just ER'd today

Talk about skin of the teeth! They should make your story into an Indiana Jones movie!
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Re: Just ER'd today
Old 07-15-2006, 01:25 PM   #12
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Re: Just ER'd today

Congratulations on ER.* Good thinking on the Tucson choice.* A great area to live in and explore: deserts, mountains, and Mexico, all nearby, along with the great local cuisine.* You sure won't mistake Rocky Point, Mexico for anywhere in the Pacific Northwest.* Tucson will be a great place to live on a $40K budget.
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Re: Just ER'd today
Old 07-15-2006, 09:33 PM   #13
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Re: Just ER'd today

Congrats Dawgster! I'm 53 and on the verge of doing the same. A little more courage is all I need. But help me out with the math here. Will the sale of your home in the Northwest give you additional assets.. perhaps enough to pay off the Tuscon mortgage? If not.. where will the 40k/ yr. come from? Are you planning on going back to work in Tuscon perhaps?
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Re: Just ER'd today
Old 07-16-2006, 10:26 PM   #14
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Re: Just ER'd today

Welcome to AZ! You will love the winters, and find the summers are great time to travel back to the NW to see old friends and get out of the heat. Its very doable to live in "The Old Pueblo" for 40/year, as long as you LBYM. Hit the Indian Casinos south of town and check Nogales out for cheap dental services. Nice part of the world.
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Re: Just ER'd today
Old 07-17-2006, 06:01 AM   #15
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Re: Just ER'd today

Hi and congrats!
If you have doubts to get by with 40K per year I would recommend:
- track your expenses daily at least for some months, set up monthly overviews.
- avoid new financial committments, hobbies, memberships till everything has settled down and you have a clear picture
- check out www.slnet.com ans www.stretcher.com for some ideas that help keeping your money together.
Enjoy!
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Re: Just ER'd today
Old 07-17-2006, 02:33 PM   #16
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Re: Just ER'd today

Thanks for all the kind words, encouragement and ideas.
It was a tough weekend with the mind churning away thinking I made the wrong move.
40K will be my projected expenses, but my DW is planning to work part time in sales type j*bs and I'll take small short term IT contracts if the mood strikes.
i doubt it!!!
Planning withdrawing less than 30k /yr. from the portfolio to start. also have some $$ stashed away for a pool for the house but might not do it, not sure if we would use it enuff to justify the 40-45k tab....that's still being debated.
anyway thanks for positive feed back! I'm feeling a lot better and starting to breathe again!!

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Re: Just ER'd today
Old 07-18-2006, 02:06 PM   #17
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Re: Just ER'd today

Congratulations! My bet is that you won't have any regrets, and please try to post your progress. You'll live longer and happier lives as a direct result of your courage. A year from now you'll wonder what you were worried about.
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Re: Just ER'd today
Old 07-19-2006, 10:06 AM   #18
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Re: Just ER'd today

Congratulations! I've still got a ways to go myself, but its great to hear that it can be done! Enjoy your ER!
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Re: Just ER'd today
Old 07-19-2006, 11:25 AM   #19
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Re: Just ER'd today

Congratulations! I just retired myself 6/2/06 and I am enjoying it tremendously! I feel like I need to keep pinching myself to make sure that I am not dreaming. Keep us informed on your retirement and life in AZ.
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Re: Just ER'd today
Old 07-19-2006, 12:19 PM   #20
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Re: Just ER'd today

Quote:
Originally Posted by Dreamer
I feel like I need to keep pinching myself to make sure that I am not dreaming.
I've been FIREd for 11 months now, and I'm still pinching ...not only during our month in Italy, but now at home with DH on his 3-month summer break, doing what we want, when we want. The Coast Guard barque Eagle is arriving in Charleston Harbor in a few hours, and we plan to be on the beach behind Fort Moultrie on Sullivan's Island to greet it. <pinch>
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