FIRE-ees: any regrets?

[deserat]

Nord post brought up for me a key thing about maturing---basically that one learns to become more analytical and long-term in their thinking (hopefully). I look back and realize that I made some decisions on more emotion and not some good fact-checking and analysis. I also believe with the internet at our fingertips, we have access to a lot more information such that we can avail ourselves of all the opportunities out there. When I was a young pup in the active duty Air Force, you had to know the information gatekeepers to find out what the possibilities were - I didn't know that I had been tracked for below the zone promotions until I got a copy of my OPRs ten years later! I thought that I was doing an OK job - not one in which they thought I should be ahead of my peers. Also, before I went on my 'jaunt' to Europe, I thought that I would have to quit my civilian job - thank goodness my girlfriend said go look at the HR policies - well, lo and behold, I could go on a military leave of absence and then come back after the tour was over. These are the types of information that can help one make better decisions.

Other examples - I've bought and sold several houses - am now 'coaching' my husband on his first experience in this endeavor - learned the hard way it's a game and to be firm and diligent regarding what you are willing to pay and reviewing all the paperwork - not to let them hurry you whenyou are reading 100's of pages that will eventually have your signature - it's not their money or life - always remember the agent 90% of the time is working for the seller, not the buyer, unless you've specifically set up a contract with them for them to represent you - always be willing to walk away if you aren't comfortable - can't let emotions rule too much or you are not in a position of strength.

So, although I am not ER, I do wish I'd been a bit more diligent at times in finding out all the options available before jumping - not that I'm not happy where I am, it just might have made for some more interesting detours :-)

Deserat

[ESRBob]

No regrets.
Lessons -- should have learned a lot more about SWR since I was assuming 5% was super safe and it wasn't. If I'd known, I would have managed some of my stock option sales differently -- since I thought we had more than enough already, we just kind of sold early and sold often as the bubble was inflating.

One nice thing I did which continues to be helpful was arranging a departure agreement from my company which paid my health insurance as long as the company wasn't bought or went public or broke. I thought I'd get a year or so out of that and here, 6 years later, it's still chugging away.

[SoonToRetire]

We have two homes, one in the Northeast, and a condo in the caribbean. We really can't carry the two homes for more than another 5 years or so, nor would we want to. We've been hedging our lifestyle, not sure yet of exactly where we want to retire full time. So, to your question, the one regret I have is not selling our home in the Northeast when the housing market was sizzling hot. We could have place all our belongings in storage while searching places to live. Now we have to wait for the market to rebound some.

[Billy]

SoonToRetire:

So, to your question, the one regret I have is not selling our home in the Northeast when the housing market was sizzling hot. We could have place all our belongings in storage while searching places to live. Now we have to wait for the market to rebound some.

I don't thinik you are alone in that position, STR,... So don't be too hard on yourself...

We know of people who retired, and planned on selling their house in the 'hot market' -- but only after they traveled for a while. They bought another 4 story house up the coast before they sold the other one which they counted on for the $$... Now they have two! and they have reduced the price a few times in order to move it... but so far, no luck!

The clearer you are on what you want, the easier it is to make a decision and all that it entails. Good luck to you!

Be well,
Akaisha
Author, The Adventurer's Guide to Early Retirement

[heyyou]

I used to regret some of my ignorant, early investing decisions. Now I feel great about being FIREd and my current level of knowledge and assets. It all worked out well, mostly due to continued diligent saving, not prescient investing. I now consider those losses as tuition for my financial education. Losing all of my savings (2X my annual income) in my early 30's was a great lesson for someone like me. Now I'm diversified, more patient, less greedy, and have no interest in limited partnerships (the 80's version of today's hedge funds), individual RE properties, or load funds. I've out-grown what I consider to be an immature, greedy attitude towards investing.

[Kitty]

No regrets, none period.

Sure I coulda done this and that differently, but it has, so far, worked out well. I am happy, busy and financialy doing well, LBYM works great. One day I will sell the farm and move somewhere else, maybe. Life is a mystery, an adventure, who knows what will happen next

Sooo glad I don't have to go to work anymore

Kitty

[SoonToRetire]

Billy, I hope you are not one of those caught with two homes then couldn't sell your old one for the bucks you needed for the new one. Although I regret not selling in the hot market, I also avoided disaster by a slim margin. I came within 24 hours of that nightmare, put an offer on a retirement home that cost about 100,000 more than I was looking for, but figured oh well, prices are going up and my old home is gaining value in a hot market. Long story short, my offer fell through when someone outbid me, just when my local home market hit the wall. Homes listed back then, a year or so ago, are still listed. I don't know what I would have done, thank goodness I dodged that bullet. Made me even more conservative with my retirement plans. From now on I'm not buying anything until I've sold what I have.

[Billy]

Billy, I hope you are not one of those caught with two homes then couldn't sell your old one for the bucks you needed for the new one.

Nope. We sold our place in the early 90's when we retired at age 38. We have since taken a different view to housing all together (see Worry-Free Housing http://retireearlylifestyle.com/a_a_communities.htm)

From now on I'm not buying anything until I've sold what I have.

Smart move! Lesson learned!

Be well,
Akaisha
Author, The Adventurer's Guide to Early Retirement

[SoonToRetire]

Interesting housing concept. Maybe I'll try working on my wife, this is probably a little easier than trying to convince her to live on a sailboat. Gave up on that idea.

[pfpelican]

I wished I'd have cashed in my Enron stock options instead of believing Ken Lay.

[aenlighten]

I guess I regret not learning investing even earlier and getting here faster with even more money. I knew the basics but didn't spend as much time on it as I should have while working.

[Billy]

SoonToRetire:

Interesting housing concept. Maybe I'll try working on my wife, this is probably a little easier than trying to convince her to live on a sailboat. Gave up on that idea.

Billy wanted to live on a sailboat. It's a great idea. Unfortunately, as life has it, I get terribly seasick, and to be honest, I am afraid of deep ocean water and the 'creepy' things that live there... all slimey and stuff. Not only that, but I could never figure out which way the wind was blowing.

He'd tell me to lick my finger and figure out which side was cold. That is where the wind is coming from.. Well, my whole finger was cold... I'm sorry. It's a personal failure. :P Billy was a bit heartbroken...

However, once Billy got the idea that RV's were really 'land yachts' with many of the same benefits and simple, high functionality, he was all game for it. Then we 'traded up' for a manufactured home in the Active Adult Communities I wrote about in the Worry Free Housing piece I mentioned previously.

We really do have the best of both worlds. A home with all the benefits, a turnkey situation, and we travel the world too.

Thanks for taking the time to view.
Be well,
Akaisha
Author, The Adventurer's Guide to Early Retirement