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ER on hold
Old 12-07-2009, 07:27 PM   #1
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ER on hold

I started working today. The job is in a slightly different field and I have more control over the hours I put in. I'm hoping to enjoy it, have some time to myself and, of course, bring in some money. The first day was good!

Thanks to the market's recovery, our portfolio is now just about 10% below where it was on May 1, 2008. It is 13% below where I projected it to be at the end of 2009.

Our actual spend for 2009 will probably be about 22% below the amount we budgeted for when we ER'd. We can increase our spend by another 10-12% from current levels if we take 4% of the current portfolio.

While things do not looks as dire as they did on our first anniversary of ER, we decided to go back to work & add to our savings, rather than limp along spending less than we anticipated.

Here is the one year anniversary post for some reference.

End of Year 1 of ER
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Old 12-07-2009, 07:37 PM   #2
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You gotta do what you gotta do. Sounds like it's bearable and may even be enjoyable! Congrats on finding something different than your previous job and you probably are sleeping a lot better knowing you have a paycheck to make up the slack.
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Old 12-07-2009, 07:47 PM   #3
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How long do you think you will you have to work until your portfolio recovers?

You have a great attitude. I would be pretty forlorn and despairing if that happened to me. Glad the job seems better than your previous one.
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Old 12-07-2009, 07:50 PM   #4
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WinW, I'm guessing several folks who frequent this board have gone the same direction as you, choosing to return to work either part or full time rather than worry about depleting their retirement funds. As Feever says, YGDWYGD.
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Old 12-07-2009, 08:13 PM   #5
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Quote:
Originally Posted by walkinwood View Post
I started working today. The job is in a slightly different field and I have more control over the hours I put in. I'm hoping to enjoy it, have some time to myself and, of course, bring in some money. The first day was good!

Thanks to the market's recovery, our portfolio is now just about 10% below where it was on May 1, 2008. It is 13% below where I projected it to be at the end of 2009.l
No shame in that. If you can't dodge and weave a bit when extreme conditions prevail, you will be the worse for it. The Recession of 2008-9 certainly put off retirement for a lot of people. I admire your tenacity. You will be a lot happier for having built up a little more cushion.
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Old 12-07-2009, 08:24 PM   #6
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I think this is a smart move considering how many years you have to fund retirement . Enjoy your new job you will be retired again !
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Old 12-07-2009, 09:51 PM   #7
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I also returned to work PT in May after getting killed in the down turn. Working a few days a week selling boats has taken the pressure off the portfolio for this year at least. I was trying to stay under the 95% rule but with spending 14K on dental work between myself and DW there was no way to do it without depriving ourselves.

I have 16 months till I can kick in SS at 62 and I'm going to try and keep working for a while longer. I'm still about 12% behind my high from Oct of 07 and would love to close that gap. Knowing I can walk out the work door at anytime makes it a lot easier to cope with.

If the market continues to rise I'll be back to doing nothing sooner.
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Old 12-08-2009, 06:06 AM   #8
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I kicked around the idea of ER due to several close friends taking their retirements. They have definite goals in mind(to move south to be near family). I have decided to hang in there at my very tolerable job until I have a clearer vision of what I want to do and let the markets recover a bit before I take the plunge.
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Old 12-08-2009, 09:49 AM   #9
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You are not alone. I went back to w*rk 18 months after retiring due to the economy. I'm not making the same amount of money but the regular hours and no stress more than make up for it. I truly enjoyed my 18 months of freedom and look forward to doing it again but on a permanent basis.
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Old 12-08-2009, 01:11 PM   #10
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Good luck to you. I think it's a good move. Peace of mind is worth a lot. And you're certainly not the first to do this. I remember on the old Motley Fool Early Retirement board a guy named AAPL had made a ton on Apple and had retired quite young. But he got killed in the tech bubble pop. He said he was going to have to go back to work. This made a huge impression on me regarding both diversification and financial convervativeness, and I carry a large dollop of both with me to this very day. I wandered away from the forums after that for a while, but I always wondered what happened with him. Especialy with AAPL where it is now!
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Old 12-08-2009, 03:40 PM   #11
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When you're down in the count you've got to make adjustments!

For us DW found a 1 year position working at the middle school where our son is. Not for the pay ... but for the bennies. Not paying healthcare has made a huge difference for us.
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Old 12-08-2009, 07:57 PM   #12
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Thank you all for your support. And those in my shoes - all the best to you. W2R, I don't know how long I'll work. It will depend on how much I enjoy it and how the markets do. My old job was fun for the most part, but took way too much of my time and was stressful. I'm hoping to tackle the time portion with this job.
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Old 12-09-2009, 05:43 AM   #13
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That's kind of why I choose to go back to work, that and boredom. After 18 months I find I don't mind it much. We're banking 3/4+ of the extra income to spend later.
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Old 12-09-2009, 11:00 AM   #14
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You have to do what is right for you, and if going back to work gives you peace of mind and the dollars you need, better you do it now than realising when you are 80 and eating cat food that you should have done it.
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Old 12-09-2009, 02:41 PM   #15
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You have to do what is right for you, and if going back to work gives you peace of mind and the dollars you need, better you do it now than realising when you are 80 and eating cat food that you should have done it.
I've heard that Friskies chicken variety is actually quite good over noodles
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Old 12-09-2009, 06:45 PM   #16
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I've heard that Friskies chicken variety is actually quite good over noodles
Add a bit of chilli sauce, ginger and chopped garlic and it is probably tres delicious. One just has to use their imagination I suppose.
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Old 12-10-2009, 01:42 AM   #17
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Walkinwood,
Sounds like this is an all or nothing thing, work full time or retire full time? Or am I mistaken? Ever think of more of a long term semi-ER gig or is that not appealing? Also sounds like most of the respondents are also of that mindset. Oh, well
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Old 12-10-2009, 10:43 AM   #18
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Walkinwood,
Sounds like this is an all or nothing thing, work full time or retire full time? Or am I mistaken? Ever think of more of a long term semi-ER gig or is that not appealing? Also sounds like most of the respondents are also of that mindset. Oh, well
Targa,
This is not a full-time gig. I have some control on the hours, but need to figure out what is more effective. I'll only know that after I've spent some time working on it.

We like to travel, so if I can work it out so that I can take 2-3 months off a year in 3-4 week chunks, I'll be satisfied. To me, that would be semi-ER.
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