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Starting ESR in December !!!
Old 10-13-2007, 09:58 PM   #1
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Starting ESR in December !!!

I joined this board several months ago and have spent many hours reading, searching, and learning but unfortunately not posting much. That will change now since I gave my notice a few weeks ago at Mega Corp . My FIRE date is in December. After over a year of planning and calculating it was time to move on and with the info from this board, Firecalc, and the Fidelity and T Roe Price calculators I have done enough analysis according to DW who ESRd two years ago although the Engineer in me is never really done calculating.

ESRBobs book "Work Less Live More" was a tremendous help in making this move for anyone considering ESR.

We lined up the health care early this year and the Long Term Care, many years ago. DW and I will both get a pension at 55. Until then DW and I will work some part time in our businesses and rentals and that should keep our SWR well below 3%. No work at all would take us to almost 4% which is more than I am comfortable with for now since we are only 43 and have two kids. We do have money allocated outside of our retirement assets for their college so that will not be an additional expense.

We have tracked our expenses carefully for many years and have a good handle on the ongoing expenses, maintenance, depreciation, and replacement costs of our lifestyle. Of course the part time business income helps should the kids expenses rise more than the plan. We have and will continue to teach the concepts of LBYM and that to date has kept the kids costs to a reasonable level and instilled many valuable lessons.

After 21 years working at Mega Corp and the last 12 of them in a building with no windows, minimal lighting, sitting in a row of desks with 500 other engineers all just 4ft apart and of course having the A/c turned off most days after lunch so that the temp rises to 82 or better and then leaving for a second job its time to finally start living!

Early Semi Retirement was a goal DW and I set when we married over 21 years ago and we are very excited that it is finally happening. It has been quite a journey to get to this point but well worth it. Based upon the last few years we should be able to keep our business work to no more than 15 hours a week each which will leave time for us to be a family and raise our kids in a better way than we have been able to before with our schedules.

Thank you to all the regular posters on this board who share their knowledge and expertise so that others like us can learn and emulate.

Counting the Days,

Fisherman
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Old 10-14-2007, 07:09 AM   #2
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Congratulations. Sounds like you have a good plan. I, too, am going in December and have done similar planning to yours. Somehow, no matter how many calculators you use and how well you track expenses, there is still a bit of fear that you messed up or missed something. You are a bit younger than I am and have kids that aren't in college. I'm 55 and didn't really start thinking about FIRE until mine finished college. Good luck.

Also, I like your screen name. I plan to do a lot of that when I am no longer w*@king.
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Old 10-14-2007, 11:51 AM   #3
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Welcome fisherman....sounds like a great plan. I am 32 right now with a dream of ESR'ing by 45. I love hearing about people planning and reaching their goals! Hope to read more posts from both of you when you retire in December!
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Old 10-14-2007, 12:09 PM   #4
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Congrats! Looks like you have your act together. It's probably good you do plan to work a few hours at your age. Should make for an easy transition to ER.
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Old 10-14-2007, 12:25 PM   #5
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Excellent Fisherman! I like yourself have read ESRBobs book "Work Less Live More" and could not agree more that it was/is a tremendous help in making this move for anyone considering ESR. Bob's second edition has just been published (see Nolo) and a workbook to follow. His 95% rule can open one's eyes to there is a way to make this happen.

FYI: I do not receive any money from ESRBob's book sales (darn).

Congrats,

Hillbilly

PS Now go fishin' and enjoy life!
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darn it
Old 10-14-2007, 12:49 PM   #6
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darn it

Quote:
Originally Posted by Hillbilly View Post
Excellent Fisherman! I like yourself have read ESRBobs book "Work Less Live More" and could not agree more that it was/is a tremendous help in making this move for anyone considering ESR. Bob's second edition has just been published (see Nolo) and a workbook to follow. His 95% rule can open one's eyes to there is a way to make this happen.

FYI: I do not receive any money from ESRBob's book sales (darn).

Congrats,

Hillbilly

PS Now go fishin' and enjoy life!
I think his book (WLLM) is good reading as I start venturing into this ER/ESR world...BUT I just bought the WLLM 1st Ed. within the past couple weeks and just as I was discovering the info on this board...How much difference is there in the latest version can't tell from the table of contents & didn't see mention of a 'workbook' either. I do enjoy reading the version I have - will reread it and highlight the salient points before passing off the the CinC-House.
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Old 10-14-2007, 01:10 PM   #7
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Wonderful!
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