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Old 09-10-2015, 07:17 AM   #41
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I retired at 56 with no regrets. The job had gotten boring and two bad apples were making it miserable for the rest of us. Three other folks on my team decided to leave right after I did. I also have chronic pain issues that improved significantly when I didn't have to sit in front of a computer for 9-11 hours a day. Now I'm much more active and have lost 35 pounds too. Can't wait for DW to join me in December! Life is good!
Dash,
I am in this predicament right now. I'm 55 and really hate my job. to the point where it is making me miserable. For some reason I'm afraid to pull the plug even though I've gone over the numbers every which way to sunday and they say I'd be ok. my main fear is healthcare. My work atmosphere is horrible.
I would like to do something and that's what I'm investigating right now. I think I won't be so fearful if I fell like I have a plan in place.

Thanks for your story though,
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Old 09-10-2015, 08:32 AM   #42
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I ER'd at 56 after a 3 year period where I trained my replacement. Was very happy to retire at that point. However, knowing what I know now, I probably would have been better off if I retired maybe 3 years later. Certainly would have been ahead financially and in the overall scheme of things, 3 more years would have been OK. Hind site is always 20-20 and things have certainly worked out very well regardless.
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Old 09-10-2015, 08:40 AM   #43
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I had plans to retire at 52, but DW had different plans. She wanted to work longer and for me to work longer as well. So I started cutting back on work hours when I was 47. I eventually got down to 1-2 work days a week when I was 55 and stayed on that schedule until I was 58, when we both ER'd. I have no regrets for not retiring earlier. Working part time was a great transition into retirement and provided extra $ to buy my retirement toys.


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Old 09-10-2015, 09:14 AM   #44
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It's tough to make predictions, especially about the future. Yogi said it best. A very smart fellow once told me that everyone always feels they need more time or more money. So while we have time we feel we need more money (the root of OMY syndrome and our various excuses to keep working).

The flip side, though, when our health and youthful energy start to deteriorate is that we may suddenly feel we need more time rather than more money - and regret not retiring sooner. I think it is the rare fortunate person who feels they have plenty of both time and money (though judging by the posts, a good number of these fortunate individuals reside on this very board).
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Old 09-10-2015, 09:49 AM   #45
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I retired at 43 so not in your situation; however the reason I retired at 43 is because more than a few of my co-workers died while still working.. when you lose numerous friends that never made it out of their 50s and some were in their early 40s, it really makes you re-think the value of working vs. not. Our job was high stress, the top 3 medical issues at work was high blood pressure, cardio issues, and depression...with the average age of workers in their mid 40s... not good. I can say I learned from my coworkers that were all in the OMY, or the I just keep plodding along until they eventually lay me off, they were just so miserable and I saw myself going down that path and just woke up one day and was like what is wrong with me.. why would I choose to be miserable.

Yes I'd like to have more money saved away, but I have no doubt that more years would have lead me to ill health and an early demise...and wouldn't have had time to spend the money anyway.. ie i'd rather be happy and healthy and broke, then miserable, sick, and wealthy.
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Old 09-10-2015, 10:00 AM   #46
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My Dad retired at 65 the same month that Mom died of breast cancer. He lived for 30 more years. I committed that I would not take that chance and set out to retire at 55. Then a rare set if circumstances gave me the chance to walk away at 49 with 42.5% pension. I had not made my financial goals then so I began consulting. I had such a good time doing it that 55 came and went. I finally retired at 60, not because I wanted to but because I realized that OMY would reduce my retirement runway by 5% statistically.

That was 12 years ago and I think the fact that I was loving the consulting made it hard and that I decided for the right reasons. My spare time enabled me to travel 2300 miles to visit my brother each year, and, when he died unexpectedly in 2009, I was glad to have had the extra time with him.
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Old 09-10-2015, 10:23 AM   #47
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If I had retired earlier I would have been slammed by the 2008/09 debacle. I don't think my psyche could have taken it.
I was not at the top of my game those last years-muddled,stressed,tangry(tired-angry) I left workforce after cancer surgery and was not given a chance to go back to work(see muddled) I'm able to look at market volatility now as just one of those triangles on a chart-kindof
I still am not traveling-now that I have time it seems that I just don't care to go.
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Old 09-10-2015, 10:43 AM   #48
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I did not want to experience any such regrets. And there was so much I wanted to do while my body was still more or less at its peak. I retired at what most would consider an early age. And yet, I feel a little regret at not doing this even earlier. It's been so wonderful I can't even begin to properly express my current happiness level.
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Old 09-10-2015, 04:52 PM   #49
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Mother died at 31, brother at 42. I figured I was pushing my luck waiting to retire at 50. It's been 9 years, and I don't regret a thing. I do have a small (tiny) side business that brings in some cash, but it's not a hassle and we eat out all year on the Discover Card points I rack up.

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Make sure you have enough to last 35-45 more years though!
I always use 100 as my end of life age for figuring out financial needs. No real possibility of getting there bar a major scientific breakthrough, but I'm hyper conservative, economically. If it was just me I'd probably do it differently, but since I need to consider DW I make sure to have plans B, C, D,E, and F, at least.
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DW and I - FIREd at 50 (7/06), living off assets
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Old 09-11-2015, 10:49 AM   #50
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Since you are very conservative (likewise), suggest you run your simiulations with some shorter time lines to see the results. I have been using 94 and ending with a portfolio larger than today even when looking at non-inflated $$.
What I realized is that as a conservative who was spending less than the portfolio growth, the portfolio looked better the longer I lived. Cutting the end point back 10 and 20 years still left a nice positive ending portfolio, albeit much smaller than it was forecast if we last until mid-90's
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Old 09-12-2015, 10:30 AM   #51
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Of the retirees here that could have retired sooner than they did (~55 or younger), do you wish you pulled the plug earlier??

What did you learn after you retired that would have impacted your decision to leave the workforce earlier, if you knew it?

How much earlier would you have left?
The short answer:
Yes.
Nothing; answer based on a full BS bucket.
<5yrs

The background:
Although DW & I have always LBYM (though not radically), I didn't start thinking seriously about retirement until I was in my early 40s. I read YMOYL and TMND, and a switch went on in my head, after which the pursuit of FI was an overarching goal. At that time, I began to educate myself financially and set a goal of retiring before turning 60 which, as time progressed, morphed into somewhere btwn age 55-60. This is not super early (and much later than many on this forum) but, it was somewhat specific and gave me a tangible goal (I do better with tangible goals).

As time passed, things were going well financially, I still enjoyed my career very much, and projections forecasted that we'd be FI in the early part of that 55-60yo window; then 2008/9 happened. So, we redoubled (ney...tripled) our savings efforts; banking bonuses, saving as much as possible elsewhere, were fortunate to benefit from the post-2009 runup, and were FI by 2012/13. During the last few years, my BS bucket quickly got full, and the time seemed right to FIRE. So, in Summer 2014, we did just that, at age 58 (technically Semi-FIRE since I'm doing a small bit of consulting).

Having been Semi-FIRED (and relocated to what we hope is our long term RE location) for only ~1yr, I can't say that I've learned anything in that one year that would have affected our RE timing decision significantly. What I have learned is that we're loving our new lifestyle. And, I think we could have loved it just as much, with no regrets, several years earlier; as early as age 55 or maybe a year or two earlier. However, any earlier and I feel like I'd have missed out on some of the most satisfying work of my career. So, that's why I say <5yrs earlier than 58.

Of course, that's just our story; everyone is different.

PS: I do want to say that this forum, and the people in it, were a tremendous help to me and very reassuring during trying times. The experience, wisdom, willingness to freely share (both like & contrary views), has been of great benefit to me, and I appreciate it very much. Thank you.
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Old 09-12-2015, 11:12 AM   #52
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PS: I do want to say that this forum, and the people in it, were a tremendous help to me and very reassuring during trying times. The experience, wisdom, willingness to freely share (both like & contrary views), has been of great benefit to me, and I appreciate it very much. Thank you.
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Old 09-12-2015, 04:22 PM   #53
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I have been doing a lot of research on retirement lately. I could probably write an entire encyclopedia by now...

I have read that one of the biggest regrets of retirement, is retiring too late. They wished they retired earlier. I understand that regret if someone works longer because they do not have the financial ability to retire, and wished they could have retired earlier.

I also understand the mentality of people that work until 67+ and wished they left the workforce earlier, after all, the time remaining is greatly diminished.

There is always the OMY syndrome, which I am in now (303 days left...). I do think it puts a final cap on me ever having to worry about any finances. And it will provide a much better lifestyle than I live now. I am sure others see their OMY that way too. I am already wishing I retired earlier, and I am not yet retired…

Of the retirees here that could have retired sooner than they did (~55 or younger), do you wish you pulled the plug earlier??

What did you learn after you retired that would have impacted your decision to leave the workforce earlier, if you knew it?

How much earlier would you have left?
I enjoy 7 weeks of vacation each year that I can take all at once if I want.

So this definitely will make retiring sooner than later a more difficult choice.

I have older coworkers in their 60s who can retire now but with 7 weeks of vacation and all major holidays and weekends off they are just not that motivated to call it quits.

I definitely would retire sooner than later with no or little vacation time.
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Old 09-12-2015, 06:19 PM   #54
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Dash,
I am in this predicament right now. I'm 55 and really hate my job. to the point where it is making me miserable. For some reason I'm afraid to pull the plug even though I've gone over the numbers every which way to sunday and they say I'd be ok. my main fear is healthcare. My work atmosphere is horrible.
I would like to do something and that's what I'm investigating right now. I think I won't be so fearful if I fell like I have a plan in place.

Thanks for your story though,
Exactly the same as you, my job is getting harder and harder and it is getting me down in a big way. I'm 53 in January and as I sit here now I'm telling myself to pull the plug the day after my birthday. Like you I don't know why I can't pull the plug!! Finances work and I dream of freedom for the rest of my days. I've written the resignation letter but haven't handed it over. I guess I should be bold one morning and bloody well do it!!
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Old 09-12-2015, 07:42 PM   #55
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My company overreacted to the financial blowup of 2008, and they retired everyone over 55 with 25 years' service. It was the best thing that ever happened to me. I'm just glad to have a defined pension, generous 401K program and Cadillac healthcare that included a retiree health savings account that paid my health insurance until 64 years old.

I've seen too many people at our RV campground work until "real" retirement age, only to find their health go south. Their dreams have not come to fruition.

My wife and I are perpetual travelers, and enjoy every minute of our travel lives. We just got in from Scandinavia and Russia last night--and saw so many travelers attempting to walk when their bodies said no.
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Old 09-12-2015, 10:15 PM   #56
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Huston55,
What are the things you read?
I don't know what the acronyms mean....
Thanks....
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Old 09-12-2015, 11:14 PM   #57
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Eileen I think the books are the millionaire next door and Your money or your life. Haven't read either one.
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Old 09-12-2015, 11:17 PM   #58
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Oh, OK, thanks. I've seen both of those at bookstores but haven't read them either.
Have heard others talk about them/read about them online, too.
It's an interesting thread.
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Old 09-13-2015, 03:26 AM   #59
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My company overreacted to the financial blowup of 2008, and they retired everyone over 55 with 25 years' service. It was the best thing that ever happened to me. I'm just glad to have a defined pension, generous 401K program and Cadillac healthcare that included a retiree health savings account that paid my health insurance until 64 years old.

I've seen too many people at our RV campground work until "real" retirement age, only to find their health go south. Their dreams have not come to fruition.

My wife and I are perpetual travelers, and enjoy every minute of our travel lives. We just got in from Scandinavia and Russia last night--and saw so many travelers attempting to walk when their bodies said no.

My thoughts entirely, I want to get out early to mid 50's whilst I still have good health and mind because I love travelling. Certainly don't want a pile of money at 70 years of age and not be able to travel around the world. That 55-70 years of age era is priceless as most people should still be in reasonable shape to still do things. I can't wait!
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Old 09-13-2015, 09:36 AM   #60
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Eileen I think the books are the millionaire next door and Your money or your life. Haven't read either one.
Correct.
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