Anyone Financially Independent, but still working?

[Redbugdave]

I think being FI and working...all depends upon whether you have some kind of control in your working environment. That way, you get out what you put in.

[richfei]

Paid off the house last week. Very happy about that. Have a very sizable net income. Both of us could FIRE at 43. Firecalc indicated no issue. But with young kids (10 and 5) I want the security of a few more dollars banked and I'm very worried about the added expense of non work health insurance. She's happy in her work. Me less so. Will see how things go in the next year or two

[REWahoo]

Quote:

Originally Posted by richfei She's happy in her work. Me less so.

Two words immediately come to mind: kept man

If you can pull it off you'll be a hero.

[oldtrig]

I did not wait on anything. I will pay cobra until august when I turn 65. I have 12 working days left in my lifetime. I thought I might have second thoughts about this but none at all. I cannot wait and really do not want to go into work tomorrow. With only two weeks left there is not much I can do. I will just enjoy the day knowing I am almost finished.

[W2R]

Quote:

Originally Posted by oldtrig I did not wait on anything. I will pay cobra until august when I turn 65. I have 12 working days left in my lifetime. I thought I might have second thoughts about this but none at all. I cannot wait and really do not want to go into work tomorrow. With only two weeks left there is not much I can do. I will just enjoy the day knowing I am almost finished.

12 working days left? How exciting!

[67walkon]

I think I am FI but there's always that nagging doubt. Last year, the plan was to retire if we could get a decent written lease on a piece of commercial property-same tenant for about 25 years, but the last lease had expired about 5 years ago. While we were negotiating, the tenant split. So now that property is under contract to sell for less than what we thought it was worth, but still a good amount. So much for last year's plan.

This year's plan is to get the property sold. There's no mortgage, but here are other expenses associated with a vacant commercial property. Those expenses screw up the plan. Assuming we close in the next 2 to 3 months, it's another uncertainty removed.

Probably everyone has this kind of stuff--you think you've got enough, the numbers look like they will work just fine and then God throws you a little curve ball.

But yes, in response to the original poster, I'm working and I think I'm FI. I'm just taking more time off this year and agreed to less compensation. I'm 62 and wouldn't mind working some for another year or two or even three, but I suspect it won't work out for my partners or that I will enjoy the freedom too much. And I wish my crystal ball worked better!

[73ss454]

Quote:

Originally Posted by 67walkon I'm 62 and wouldn't mind working some for another year or two or even three, but I suspect it won't work out for my partners or that I will enjoy the freedom too much. And I wish my crystal ball worked better!

This is the "Early Retirement Forum" ya know!

[Aiming_4_55]

I believe I'm financially secure or FI with 98% success rate from FIRECalc at age 42, turning 43 in a few months. The expense budget was based on 2011 expenses. It did not include SS or small pension so I built in a buffer.

I will not RE as I have several young kids and planning to provide things that I did not have when I was younger. We will not spoil them. I hope to pull the plug to semi-RE when I get closer to 50 or sooner if it feels right, but it has reduced my tolerance to working overtime or giving up weekends to megacorp. I do some landlording, but limiting time away from family to 6 - 10 hours per month currently.

[redduck]

I think I’m financially independent, but I’m not sure. I could look more closely at my financial situation, but I don’t want to be accused of being intrusive. Anyhow, I’m way old to retire at a young age. I’ve made my job as comfortable as I can: I don’t go in until 10:30—sometimes 11:00 and I leave by 3:00. Often, I leave earlier. I work five days a week, but if I have a doctor’s appointment (or go to Costco), I just take the entire day off. I am never in rush hour (and rush hour in Los Angeles is truly terrible). My work is a 20-25 minute drive and the drive is usually sort of pleasant.

In the last couple of years, I’ve sort of set up my finances to generate income: Lots of pssst Wellesley and a bunch of TIPS (the TIP ETF) and several individual stocks that have good yields and are relatively safe (like the ones everyone owns for income). I also have two high dividend stocks that I shouldn’t have, but discipline is not my strength. I am also collecting social security (kicked in at age 66) and I just love that Medicare.

I continue to work for several reasons: The big reason is, I don’t want to think about money. I just want to use it to make things better, quicker, easier. I have one kid who decided to go to graduate school (she picked an expensive one). Another kid will be buying a house soon (we hope) and he will need some financial help (we hope not). We will be helping them both financially.

Other reasons I continue to work are: I like my job and I like to earn money.

[ikubak]

FI but still working. A couple of reasons I keep working....vesting in a nice pension in 3 years....a son with 2 1/2 years of HS left....the majority of my liquid assets are in IRAs and 401ks...I could take some from there but dont really want to. In a strange way, I feel like the walking dead, awaiting rebirth when I retire. Things that used to seem important at work just dont matter anymore

[SpencerM]

OK, I can retire now but am still having fun. In two years I will effectively be working for free. At that point I think I will retire and DW will go back to work (her idea, can you believe it)?

I could do it all now but two more years will add more to the IRA's and give me something interesting to do. Not sure what I will do then at 56, but thinking about it.

SM

[MasterBlaster]

If you get those expenses down, you can retire much earlier than planned.

Do you want to work for the man forever.

The good life awaits you.

[Koolau]

Quote:

Originally Posted by MasterBlaster If you get those expenses down, you can retire much earlier than planned. Do you want to work for the man forever. The good life awaits you.

Looks to rich for my stash!!

[GRambler]

Quote:

Originally Posted by ikubak FI but still working. A couple of reasons I keep working....vesting in a nice pension in 3 years....a son with 2 1/2 years of HS left....the majority of my liquid assets are in IRAs and 401ks...I could take some from there but dont really want to. In a strange way, I feel like the walking dead, awaiting rebirth when I retire. Things that used to seem important at work just dont matter anymore

Very similar but without the child.

Our two biggest issues are:
Insurance and self doubt that we've actually achieved FI.

At 52 and 50 we're taking more time off now, still not enough off though. What we decided was to plan for full ER in 5 years to give us a goal rather than jump all in now. But the closer we get to that the more time we'll request off whether work likes it or not.

I'll probably try for a 4 day work week next year, plus vacation time. After that maybe contract jobs and work from home rather than commute. We've had several engineers ease into retirement at work like that. No reason I can't be the next one.

As for insurance we haven't explored any outside options yet.

[MooreBonds]

Am inching closer to being FI, but still single (hoping to find "the one" not too far in the future ). Because the future Mrs. is unknown, and our combined goals/budget/balance sheet are unknown, I assume we wouldn't quite be FI post-marriage, compared to my current state.

But, if I lost my job today and was unable to find another source of employment, I could meet my expenses - with a pretty generous budget for fun/travel - given my current stash, and have a 2.5% WR. However, given my age, I'd definitely still work for a few more years to pump up the portfolio and make it virtually shock-proof (and make that post-marriage portfolio closer to FI than it is now).

[Orchidflower]

I tried not working once I did my 7 year stint taking care of a dementia'd mother. It was fun for awhile. I got bored after about a little over a year of going to happy hours with groups and eating out with others--not that I didn't enjoy it--but it wasn't enough to make me feel fulfilled.
So, now I am fulfilling my dream of doing nothing but studying the stock market. I love it. It gives me purpose and something I am really enjoying doing.
And, yes, I have waaaay more than enough to retire, sit on my can and daydream. Just not for me.
People work--when they don't have to at all--for personal satisfaction and a sense of self-worth. At least, for me that's true.
I save my weekends for getting together with friends now except on rare occasions. I am sooo much happier than I was before.
Different strokes?

[REWahoo]

Quote:

Originally Posted by Sambuca I'm FI, I've sworn off this board.

Yet you continue to troll...

Quote:

Originally Posted by Sambuca In short, this is not the place where I want to waste my time anymore, and this is (wait for the applause) my last post...

If you were really serious you wouldn't waste a minute of your 'driven' time telling us - unless this is how you classify doing something for which you are "truly proud".

Please be careful of the doorknob on the way out...

[REWahoo]

Quote:

Originally Posted by Sambuca whatever

Witty rejoinders will not win us over.

Is this your last post or was the post you said was your last post actually the last?

[arky]

Quote:

Originally Posted by Sambuca I'm FI, I've sworn off this board. I have many things that I want to accomplish in life. I am driven. I love to tackle impossible tasks - marathons, novels, and hopefully things that put me in an elite class - to understand where the leaders are taking the world. I want to read 'thinking fast and slow' and gainfully employ that in my life. In short, this is not the place where I want to waste my time anymore, and this is (wait for the applause) my last post... until I'm ready to be old and refective on life, like most of these 'Early Retirees'. I came here for inspiration, and mostly found people talking about the riches of time, but not optimization - what I would hope the goal of every human life (being that we are a rational species) - the optimization of time and resources. When I am powerless in this sense, I am happy to comfortably fade and die - like during a marathon prepared inadequately for, these people should not be offering advice, unless they are doing something they are truly proud of, that leaves the world better than they found it. But as I said, I am driven, I am relentless, I do not get excited by being here...

Wow, I am sooooo jealous !
That is what you were going for, wasn't it ?

[eytonxav]

Quote:

Originally Posted by Sambuca I'm FI, I've sworn off this board. I have many things that I want to accomplish in life. I am driven. I love to tackle impossible tasks - marathons, novels, and hopefully things that put me in an elite class - to understand where the leaders are taking the world. I want to read 'thinking fast and slow' and gainfully employ that in my life. In short, this is not the place where I want to waste my time anymore, and this is (wait for the applause) my last post... until I'm ready to be old and refective on life, like most of these 'Early Retirees'. I came here for inspiration, and mostly found people talking about the riches of time, but not optimization - what I would hope the goal of every human life (being that we are a rational species) - the optimization of time and resources. When I am powerless in this sense, I am happy to comfortably fade and die - like during a marathon prepared inadequately for, these people should not be offering advice, unless they are doing something they are truly proud of, that leaves the world better than they found it. But as I said, I am driven, I am relentless, I do not get excited by being here...

Thank you for sharing your elite greatness and drive with us; good luck, you'll need it