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Old 07-15-2013, 11:55 PM   #61
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LoneAspen,

Just curious, but is it possible for you to get back in to real estate part time while continuing with your IT job, and eventually retire from IT and move into real estate on a full time basis? The market seems to be coming back now, so the timing may be pretty good to do so.

Doing the same thing for 30 years would likely bore almost anyone. Why not make a change into something you like doing?
Good question...

A couple things would prevent me from doing that. First, the job I currently have is at a pre-IPO startup which is experiencing crazy growth, and demands 100% of my attention. Having been an agent before, I know the work involved in marketing yourself and building your brand, and I would have zero time for that right now. To me, building a successful real estate practice isn't as much about buying or selling homes as it is a sales job. You have to market yourself, generate leads, qualify them, and work towards a closing. It's basically a sales pipeline that you have to cultivate, and I just don't have any spare cycles to devote to that.

The second reason...I'm a firm believer that to be successful in real estate (especially as a buyer's agent, which I preferred over dealing with sellers), I couldn't do it part time. For example, when a buyer calls up and wants to set a showing on a house they found (such as doing their own research on a web site), they're not going to wait until I'm off work or on a weekend. They'll go find another agent to work with. At least, I would. As a client, I would expect my agent to be 100% dedicated to their practice, not juggling a 9-to-5 job and doing it on the side. Since I would expect that level of commitment as a client, I couldn't offer anything less myself. I'd have to do it full time, or not at all. That's just my own personal preference, based on how I know I work - I'm more of a single-tasker than a juggler.
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Old 07-16-2013, 07:25 PM   #62
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I'm 47, retiring next year at 48.

From my perspective, I would say that I was very fulfilled by having met (and really exceeded) my aspirations career-wise. Fantastic experience, exactly what I wanted to do with the first half of my life. But, at this point in my life, the career thing, it's been done.

Thankfully said career thing has worked out well financially, so on to the aspirations for the second part of my life.
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Old 07-16-2013, 08:55 PM   #63
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Thanks, Onward for the kind words. Most of my thoughts have already been captured by the previous replies. I HAVE worked at interesting, inspiring places; actually, more than most of you, probably. However, the "good, inspirational work" doesn't seem to last, does it?

Interesting, inspiring, motivating work also seems to come at a price. Usually, it's in the form of risk, reduced benefits or lessened monetary compensation. I worked in a number of small businesses and start-ups early in my career and though, the work was interesting, as I reached my late 30's, that increasingly became less of a priority. Financial security for my family, benefits and compensation for my efforts became my primary goal. I reached my 40's with lots of worthless stock options and not much other to show for the extraordinary effort I had put forth early in my career. A medical challenge at 40; in my opinion due to some of the long hours and stress earlier, re-focused my goals as noted above. My only regret, is that I didn't find compatriots like most of you, just a bit earlier.

Now, with my life under reasonable control, health getting better and FIRE just a year or so away, I can only counsel others. Please make sure you listen to your elders. Not all of what they say, is BS.

Good luck to you all in FIRE.
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Old 07-17-2013, 06:13 AM   #64
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"Those who plan to ER in their 30's/40's...are you unfulfilled by your career?"A career and retiring in your 30s or 40s? That ain't no career! Heck...You just got comfortable finding your way into work! You need to suffer at least 30 years at something to have a career! I would rename this thread to something like, "I just started my job and want to retire since I don't care to work anymore"...
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Old 07-17-2013, 10:25 AM   #65
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I'm 47, retiring next year at 48.

From my perspective, I would say that I was very fulfilled by having met (and really exceeded) my aspirations career-wise. Fantastic experience, exactly what I wanted to do with the first half of my life. But, at this point in my life, the career thing, it's been done.

Thankfully said career thing has worked out well financially, so on to the aspirations for the second part of my life.
This sums up my feelings almost exactly. Although, I may be a bit more burnt out at this point.

I am actually a bit higher in my management career than I ever expected. My next step up would be either CEO, COO or something similar at my company or a similar junior executive position with more people, budget, etc. (headaches) at a larger company; and, I want no part of either.

During the career, I have done some mildly interesting things and collaborated with some brilliant peopled. Said career has also funded a reasonable, not lavish, lifestyle and hopefully long retirement.

It is now time for me to move on to something else while I still have health, energy, etc. (Although, my initial decompression plan of sitting around doing absolutely nothing for a few months should not require much of either.)
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Old 07-17-2013, 06:04 PM   #66
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This thread has been a great read. Some of these posts so closely echo my thoughts on ER its a bit eerie...

Anyway, I'm ER'ing within the next 6 months at age 42... the last half of my life lies before me, and I couldn't be more excited. It's a bit scary in that money won't be as plentiful as it was during my working years - but as others have said, at some point, TIME becomes much more desirable than MONEY. I reached this point in the last couple of years. I'm fortunate in that many of the things that feed my soul cost nothing to do - paddling my kayak amongst a pod of orcas gives me a feeling that my company Christmas bonus never could.
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Old 07-17-2013, 07:00 PM   #67
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I'm 47, retiring next year at 48.

From my perspective, I would say that I was very fulfilled by having met (and really exceeded) my aspirations career-wise. Fantastic experience, exactly what I wanted to do with the first half of my life. But, at this point in my life, the career thing, it's been done.

Thankfully said career thing has worked out well financially, so on to the aspirations for the second part of my life.
Well put, BizzyC. I had a good career, too. I got some good raises in the 1980s when raises were big. I got promoted a few times but knew in 1995 that I would rise no higher. The work was still good but was on the decline somewhat. I was still doing very well financially, so my ER plans began to take shape as I knew in my mind that my career would end some time soon.

I welcome the chance to use some of the PC skills I learned on the job in my everyday life such as in my volunteer work. To the outsiders who are not proficient at Excel, for example, the things they see me do amaze them even though they are fairly routine tasks for me (which is a nice ego trip, I admit). I hope you get the chance to use what you have learned in your ER life.
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Old 07-17-2013, 07:10 PM   #68
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I'm fortunate in that many of the things that feed my soul cost nothing to do - paddling my kayak amongst a pod of orcas gives me a feeling that my company Christmas bonus never could.
Amen to that. I think back to when I wasn't making much money, and living in an inexpensive apartment in Denver, but going up to Yellowstone every summer and doing some hiking and loving it.

I want to recapture as much of those simple things again as much as I can, except without a boss/job/projects/deadlines hanging over me.
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Old 07-17-2013, 07:43 PM   #69
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Some folks are indeed motivated to retire in their 40's. They save to become financially independent, with this goal in mind.

I *may* retire early, but this is not my motivation.

If perception colors reality, perhaps my view of the world is darker than it truly is. However, I can't shake this gnawing feeling in my gut that my generation is much less secure, and our outcome much less certain than my parents or grandparents before me.

I save as much as I do to be financially secure, and independent as a goal in and of itself. Once I'm FI, I will be free to take greater risk, and take more interesting work without worry of what will happen if I fail.

I do realize at some point after I'm FI, that interesting work may not be as rewarding as pursuing my hobbies, and spending time with family. I will make that decision when I come to it.

It's important that you have something to retire to, not simply a job you're escaping from.
Never heard this expressed before. Conventional wisdom says to take risks when you're young, since you'll have plenty of time to recover from them. The main downside to waiting to take risks is that you will likely have a family that is dependent on you, a mortgage, need health insurance, etc.... This is why many people who are FI in their 40s don't take the plunge.

Yet I can't help but agree with this upside-down view of entrepreneurship. By the time you're FI, you know how to take smart financial risks and won't get in over your head when starting a business, new career, etc.... You will have too much to lose and will be far more careful with your money (and investors' money) to put anything at significant risk. I've actually seen successful salespeople at my various companies strike out on their own, or join a start up company as a C-level employee, once they are comfortably FI. These individuals would appear to have a greater success rate than their much younger counterparts, perhaps due in large part to knowing their industry, having significant contacts they can leverage for business, etc...
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Old 07-17-2013, 07:52 PM   #70
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Amen to that. I think back to when I wasn't making much money, and living in an inexpensive apartment in Denver, but going up to Yellowstone every summer and doing some hiking and loving it.

I want to recapture as much of those simple things again as much as I can, except without a boss/job/projects/deadlines hanging over me.
As I grit my teeth and try to gut out the final 6 months, getting outside and doing simple stuff like fishing and hiking is all that is keeping me sane.
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Old 07-17-2013, 11:43 PM   #71
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I enjoyed my job and my megacorp. I was making good money working on good projects with great and fun people. However, it was not my passion.

We all have a limited number of life-hours and after becoming FI, I determined that I had invested enough of them into my professional career. My new goal was to find out where and how to invest the rest of them.....however many I may have left.

I retired at 41 a little over a year ago. Love it. I feel very blessed. It is anything other than an unsatisfying life. I now do what I want when I want. That is a real freedom enjoyed by very few so I am grateful. In the spirit of full disclosure though, I still do occasional contract work, when I want and if I want, for old megacorp. I just make a much, much higher rate for doing it now. I will do that until it isn't fun anymore.

Early retirement doesn't have to be unsatisfying. To the contrary, it simply provides the freedom and options to maximize satisfaction. I don't think many jobs truly offer that regardless of the position.
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Old 07-18-2013, 09:02 AM   #72
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This thread is a solemn reminder that people should pursue their passion or do they really want to do once FI is reached since so many options become available and life is finite. Having said that, I wonder why I am still working. The reason, I think, is fear of running out of money even though the probability is small.
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Old 07-18-2013, 09:50 AM   #73
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This thread is a solemn reminder that people should pursue their passion or do they really want to do once FI is reached since so many options become available and life is finite. Having said that, I wonder why I am still working. The reason, I think, is fear of running out of money even though the probability is small.
I spent a lot of time worrying I would have enough, but I finally got to the tipping point where I figured out that I would make it work, had thought through contingency plans, and have simply had enough of the rat race. When you consider all the risk and pain it took to get to where you are, the challenge of making your stash last pales in comparison.
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Old 07-18-2013, 05:40 PM   #74
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I spent a lot of time worrying I would have enough, but I finally got to the tipping point where I figured out that I would make it work, had thought through contingency plans, and have simply had enough of the rat race. When you consider all the risk and pain it took to get to where you are, the challenge of making your stash last pales in comparison.
I hear you, Brewer...

Without my employment income, my wife and I will still be able to save at minimum $4000 every month - my wife wants to work for another 10 years or so. Our net worth is closer to 2 million than 1 million. We have no debts, kids, and in all likelihood I am going to inherit a seven figure sum in the future.

Yet I find myself still fretting about leaving my job... I am starting to think it may stem from a fear of dissapointing people I care about rather than a fear of not having enough money. Whatever the case, it is a problem for me right now.
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Old 07-18-2013, 09:34 PM   #75
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I hear you, Brewer...

Without my employment income, my wife and I will still be able to save at minimum $4000 every month - my wife wants to work for another 10 years or so. Our net worth is closer to 2 million than 1 million. We have no debts, kids, and in all likelihood I am going to inherit a seven figure sum in the future.

Yet I find myself still fretting about leaving my job... I am starting to think it may stem from a fear of dissapointing people I care about rather than a fear of not having enough money. Whatever the case, it is a problem for me right now.
I can relate to this. Situations sound quite similar except I do not have the inheritance coming. I finally came to terms with the fact that there will just always be some risk of not having enough....no matter what. I was okay with the unlikely "worst case scenario" of having to someday go back to work. Not really too bad of a deal even if I can't make what I once did.

The disappointing people is another very real concern. Some of my family was happy for me while others just didn't get it. They just believe every able body should work until they are unable. It does bother me but I am learning to deal with their disappointment. That is probably why I do the temporary contract work though. Now they are actually starting to believe that I own my own business and am actually 'contributing'..LOL. What we will do for the approval of others! (Insert deep psychological analysis here)
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Old 07-18-2013, 11:06 PM   #76
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I just hate having any type of obligation or restriction put upon my life. (Also have no house, pets, kids or even plants). As soon as I can afford to retire I will do so, or at least drop to half time. I've been planning on early retirement since the first months of my working career started after college. Sure, I like aspects of my job and I'm well paid. But I only need so much money. I value time and freedom more than anything else.
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Old 07-19-2013, 05:33 AM   #77
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Yet I find myself still fretting about leaving my job... I am starting to think it may stem from a fear of dissapointing people I care about rather than a fear of not having enough money. Whatever the case, it is a problem for me right now.
I was in a similar 'easily more than enough money but still fear running out of money" irrational mindset, but finally settled the matter by thinking in terms of what I would think on my deathbed.

On the 'keep on working' side, I see myself amassing a fortune while keeping slogging away at work hamster wheel that I mostly despise, finally retiring when I am no longer able to function and finding my body is not up to living out my full bucket list, thus dying rich and somewhat unfulfilled.

On the 'ER' front, I see me being freed from the shackles of my current employ, taking a few chances trying new things and likely finding a whole new meaning of life with one of them. I'll tick off my bucket list, albeit slowly because of much lower income to achieve it, and probably add a few items to the list as I go. In the unlikely event that things go topsy turvy on the finance side of things, I'll use the same skills that got me to FIRE in the first place to put me back on my feet and then back to the front of the pack. I reckon I will die with a big smile on my face.

I now choose the latter.
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Old 07-19-2013, 09:46 AM   #78
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To OP, I'm 38 and FI ( 2 young kids and a beautiful DW to boot) based on my "needs". I'm a solo-specialist working 28 hrs over a 4 day work week. The job is fulfilling, has autonomy, and pays the big bucks yet there will always be BS when you are doing something for money. I'm a business owner and although I have no real "boss", I still have people to answer to ie demanding patients and doc referrals. Take money out of the equation and I highly doubt I would be working today.

My previously "career oriented" DW who just turned 37, who through many years of education and hard work earned her MBA/CFA is retiring in two weeks from a 3 day/week fulfilling and intellectually stimulating job and team that she likes working with. The reason? She is retiring to become a SAHM as the early years with the kids are irreplaceable. We hope this was not a bad decision. If it turns out to be a mistake, she has 1 year to return from her "leave of absence" without hindering her career too much.

3 reasons I am still working:

1) "wants" - I want to be able to provide the best possible academic education for my 3 and 5 year old and also to participate in rep sports teams. This includes the possibility of private elementary schools and international ivy leagues (we are Canadian). Again, this is a want rather than a need and is an area of yearly re-evaluation for us.

I do not want a boat, small plane or a 2nd/3rd wife like many of my "mentors" who are still working today at 65.

2) career achievement - I can't help but feel that if I RE'd today, that I would not have paid my "career dues". I would like to think that working until my early to mid-40's will give me that sense of fulfillment and it will still be considered very early RE.

3)the love of money - yes, I am a sinner and making money is a hobby in and of itself. Fortunately, as I approach my 40's, I am beginning to realize more and more that the value of time is gaining relative to actively earned money. Ideally, by my early/mid-40's, through a combination of large investable assets/LBYM strategy, I will be in a passive and permanent build-up mode and will not have to choose one versus the other.
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Old 07-19-2013, 12:43 PM   #79
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"Those who plan to ER in their 30's/40's...are you unfulfilled by your career?"A career and retiring in your 30s or 40s? That ain't no career! Heck...You just got comfortable finding your way into work! You need to suffer at least 30 years at something to have a career! I would rename this thread to something like, "I just started my job and want to retire since I don't care to work anymore"...
This reminds me of an old joke.

What's the difference between a masochist and a sadist?

The masochist says: "Hurt me."
The sadist says: <with an evil grin> "Noooooooooooo."
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Old 07-19-2013, 04:34 PM   #80
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My previously "career oriented" DW who just turned 37, who through many years of education and hard work earned her MBA/CFA is retiring in two weeks from a 3 day/week fulfilling and intellectually stimulating job and team that she likes working with. The reason? She is retiring to become a SAHM as the early years with the kids are irreplaceable. We hope this was not a bad decision. If it turns out to be a mistake, she has 1 year to return from her "leave of absence" without hindering her career too much.
My wife and I made the choice for her to do the SAHM thing with our two boys and we think it is one of the best decisions we have ever made, despite the loss of a second income for that time period. Our boys have grown up to be fantastic men and we think a lot of that has come from spending so much time shaping the early part of their lives.

Additionally, my wife has only ever been engaged in casual employment ever since, now just over 20 years, yet we are the only couple I know that has hit FI at such an early age. This is despite pretty much everyone else we know having done the dual income, kids away in child care in the early years, norm. There is a lot to be said for LBYM, regardless of how your income compares to the Joneses.
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