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Old 05-11-2019, 01:48 PM   #21
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Too young — find something else to do, to build ...

Something between megacorp and seeing the world.
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Old 05-11-2019, 01:50 PM   #22
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Whether a $3m portfolio can sustain a couple for 50 years depends less on the math and more on future events we cannot predict but know will happen, and how one reacts. If you can avoid financial catastrophe, it could be enough.

Just two additional thoughts. Over the next 50 years there will be significant improvements in the standard of living, they aren’t covered in the budget, they will cost money, and not enjoying them will leave a sense of missing out. Also, over periods this long, it helps to have a “Plan B”.
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Old 05-11-2019, 02:38 PM   #23
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Originally Posted by coltsfan53 View Post

What's wrong with me anyway?

Any advice from those who have been in this spot?
You likely identify yourself with your work. So go with it. Just sent me checks so I can stay RE
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Old 05-11-2019, 05:42 PM   #24
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I'd also recommend a leave of absence. (Sabbaticals are pretty rare although my old company did offer them even for those in sales). You can pretty much always get away with something along the line of, "my/her parents aren't doing too well; I need to help them for several months."

I certainly wasn't sure I was ready to retire at 39 years (that was 20 years ago this month), so I took a one year leave of absence. I found I didn't miss work, but unlike you, I was ready to take a break and smell the orchids. At the end of the year, I was quite sure that I didn't want to go back to work for Intel or much less another MegaCorp.

That said if you don't have passion for doing something 47 is pretty young to retire. For your wife it might be travel, but not necessarily for you.
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Old 05-11-2019, 07:38 PM   #25
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We're similar age and I'm going through a similar exercise in my head. Ultimately, it's not a money issue. I think the bigger question is what do you want to do with your life?
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Old 05-11-2019, 08:00 PM   #26
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If you can’t pull the trigger


You aren’t ready.
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Old 05-12-2019, 05:40 AM   #27
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OP......2 big issues/problems that I can see.



1) Do you have children and do you want to help them with college costs and other expenses?


2) The biggest issue. Healthcare. You are 20 years away from Medicare. Your wife almost 30 years. And this assumes MEdicare will still be around in it's current form which I am sure it will not be. Plus if you do have children, you will be adding them to a policy.
As you age expect more healthcare issues and for you and your wife to carry the burden for future healthcare costs.


People at age 60 looking to FIRE fret about having to pay the bulk of their healthcare costs (high premiums and deductibles) just 5 years away from Medicare age. Imagine the burden if you are 25-30 years away from receiving this benefit.
You say you want to "see the world." So travel is in your future plans which is great as you two I assume are healthy and can travel effortlessly. But you may find yourselves having to decide whether to pay for that next cruise/vacation or paying the next round of ACA premiums.


I think even at a NW level of $3M it is way too early to consider FIRE at your ages.
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Old 05-12-2019, 05:43 AM   #28
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Retirement is not just a money issue. You might consider what your time is worth and what would make you happy and fulfill your needs for the years you have left (and we never know what that is). If your job is too stressful then what other career path would provide the same fulfillment with more flexible work schedule for travel and leisure time. Only you can determine that.



Cheers!
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Old 05-12-2019, 06:48 AM   #29
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If you can’t pull the trigger


You aren’t ready.
Exactly! Just because you can, doesn't mean you should. It's a big jump.

Sounds to me like your BS Bucket is not completely full yet. Right now, at least, it's good to know that you don't have to put up with the BS to come if you don't want to, at least not because you need the dough.

Don't be surprised though if once you really wrap yourself around the fact that you have enough money, your BS Bucket fills up rapidly, and is very suddenly overflowing. For many folks, good results from Firecalc seem to make the BS Bucket get smaller.
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Old 05-12-2019, 06:59 AM   #30
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My wife knows this has been our aim for years. We have "arrived" at our number (and I have a $19k/year non-COLA pension at 65, not counted in the 2.9) and she is pissed that I do not seem to be pulling the proverbial plug on the high stress gig.

I am 46. She is 37. Spend is around $85k with lots of travel baked in. We have shed the McMansion and most earthly possessions already.

She is ready to see the world. I am too but cannot separate from megacorp (the people & THE CHECKs).

What's wrong with me anyway?

Any advice from those who have been in this spot?


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Old 05-12-2019, 07:20 AM   #31
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Seems like anyone with enough funds to retire early and coming here with can/should they do it questions could be accused of humble brag. I’m sure you would have accused me given my young retirement age.

Not helpful! (In addition to posting a naked link that comes off as a rude surprise)
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Old 05-12-2019, 07:24 AM   #32
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Cut-Throat. Not sure that is a fair assessment of the OPs post. Looks pretty close to the types of questions that are posted regularly.
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Old 05-12-2019, 07:27 AM   #33
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.. the OP has a couple things going on. Even though they picked a number he's a little uncertain that the number is high enough. That's pretty common, as we've seen by the number of people that run multiple programs for retirement spending.

The other thing is his spouse is onboard with him pulling the plug and doesn't want to delay, maybe because the spouse can see clearly that his job is having a very negative effect on him. Keep talking and thinking and hopefully things will work out.

I'll also add that even good change is stressful and people under stress sometimes have a hard time changing things as they just keep their heads down and slog on.
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Old 05-12-2019, 07:47 AM   #34
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Thanks for the thoughtful response. I believe you nailed the spouse angle perfectly.

Quote:
Originally Posted by ivinsfan View Post
.. the OP has a couple things going on. Even though they picked a number he's a little uncertain that the number is high enough. That's pretty common, as we've seen by the number of people that run multiple programs for retirement spending.

The other thing is his spouse is onboard with him pulling the plug and doesn't want to delay, maybe because the spouse can see clearly that his job is having a very negative effect on him. Keep talking and thinking and hopefully things will work out.

I'll also add that even good change is stressful and people under stress sometimes have a hard time changing things as they just keep their heads down and slog on.
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Old 05-12-2019, 08:01 AM   #35
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Cut-Throat. Not sure that is a fair assessment of the OPs post. Looks pretty close to the types of questions that are posted regularly.
+1
Sorry Cut-Throat but there are many posters here wealthier than the OP and they are not perceived as humble brag.
The flip side of humble brag could be interpreted as jealousy.
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Old 05-12-2019, 08:05 AM   #36
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Seems to me she has good reason to be pissed if you don't follow through or convince her that an alternative plan (or number) is warranted.


I wish my wife (and family) was as eager for me to completely retire as yours.
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Old 05-12-2019, 08:08 AM   #37
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IMHO this is not humnlebrag, and it would be helpful to the OP if we could forget that post and stick to the OP questions and situation, which resonate to both long time and new members alike.
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Old 05-12-2019, 09:15 AM   #38
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I am too but cannot separate from megacorp (the people & THE CHECKs).
It's the latter for me. Regardless of how much you have, you never feel totally secure as the future is unknown. Walking away from a steady stream of income (especially a sizable one) is seemingly difficult. It usually requires a major event, such as health problem, death of a family member or friend, to realize that time is limited and that there is more to life than a steady paycheck.
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Old 05-12-2019, 09:25 AM   #39
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I understand it is a personal decision. I was interested in the mechanics involved in others' decisions. That's all.
The mechanics for me were quite simple, though I did not retire nearly as early as you may.

As this cartoon makes clear:
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Old 05-12-2019, 09:34 AM   #40
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If I were OP, I would try to work out a part time gig with his current employer. Lowers the stress level, yet still provides a little meaningful work for someone who is not sure if they want to retire. And it works out nicely for someone whose spouse is still working. I did an 8 year transition from full time to retirement while my DW still worked. Worked out quite well for me. No stress, had some income, plenty of time for hobbies, and DW was happy that I “worked” as long as she did.
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