Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
The Phase of ER - Long Time ERers input wanted
Old 07-21-2007, 07:21 PM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
dex's Avatar
 
Join Date: Oct 2003
Posts: 5,105
The Phase of ER - Long Time ERers input wanted

So I passed my one year ER date this month and I really haven't experienced any surprises. But I’m I sure I don't know what ER has in store for me and that is what I'm interested in learning.

The idea of this thread is to come up with the phases of ER and hopefully it will become a "Best of" for those thinking of ER. So the input by long term ERers would be helpful.

I would suggest you past my list into your post and add and subtract your thoughts from there. As you can see I really haven’t learned how to write. So I hope you get the idea; if not post a question.

Someone could probably take these ideas and incorporate them into a book.

As you can see I can get to Early Retirement Phase 2 but not much further.


A phase is the learning you encounter along the way. It is not a “how to”.

I. Pre - ER
A. Oblivion – working – no thought about ER
B. You realize that a change is needed – but what needs to change has not been identified
C. Explore options to make life happier – What changes might make work more palatable
D. Identify the change really needed - that continuing to work until 62 is not for you
E. Explore if ER is for you and Plan ER – self education; financial, social; and plans for post work life
F. Establish a date for ER and let tell everyone
G. Waiting for the date to become a reality – work begins to loose its importance in your life

II. Early Retirement
A. Phase 1 – Immediately After ER
1. Freedom – no more routines
2. Wrestle with “Buyers Remorse” did I make a mistake – fears creep in

B. Phase 2 – Initial Period after ER
1. “The Check List” do the things you always thought you wanted to do
2. Learn to slow down and allow yourself to savor life
3. Bliss and gratitude for your ability to ER
4. Lulls and boredom - they happen.
5. It sinks in that this is your life and it is your responsibility

C. Phase 3 – Middle Period

D. Phase 4 – Pen Ultimate Period

E. Phase 5? – Ultimate Period - Master of RE - You are realizing your full potential as a human being.
__________________

__________________
Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
dex is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-21-2007, 08:05 PM   #2
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,080
dex, after recently passing the two year mark, I can accurately define only two phases: Before ER and After ER. After is better...much better.
__________________

__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 07-22-2007, 07:35 AM   #3
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
I am not a long term retiree, it has been only 6 months. But sometimes things don't work out at all like you would expect. Life intervenes.
__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Old 07-22-2007, 07:40 AM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 8,641
Two an one half years in - my check list would be different. I think experiences will vary dramatically depending on when and why someone ER'd.
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is online now   Reply With Quote
Old 07-22-2007, 10:06 AM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
Martha sure has it right...life does intervene a little bit.

I'm into six years.

I've had these phases...

- Woo hoo! I'm on vacation for a year! Beach time!!!
- Woo hoo! I dont need to go back to work for a while, maybe never!
- Guess I need to make my portfolio a little less risky.
- Doing all the stuff I've always wanted to do!
- Holy crap, look at the market going down! Good thing I got more conservative!
- Woo hoo! If I downsize a little I can still never go back!
- Woo hoo! Look at this firecalc thing and all these other ER people...they all say I dont ever have to go back!
- Looks like I should readjust my portfolio towards index funds and asset allocation from managed and concentrated funds.
- Woo hoo! Look at the market going up!
- Holy crap! Woo Hoo! i'm married!
- Woo hoo! I'm having a son!
- Looks like I should readjust my portfolio to accommodate a part time working wife and upcoming college expenses...
- Woo hoo! We're upsizing the house
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Old 07-22-2007, 12:00 PM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jun 2005
Posts: 8,616
When do you get to the point where you don't need a checklist?
__________________
LOL! is offline   Reply With Quote
Old 07-22-2007, 12:07 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
 
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,697
I didnt until someone asked for one
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Old 07-22-2007, 12:12 PM   #8
Recycles dryer sheets
ScottFromUtah's Avatar
 
Join Date: Jul 2007
Location: Orem/Provo
Posts: 231
I'm a year away from ER (actually not that much early, age 63½), but I'm already going through some Pre-ER phases.
  • Dream: How would it be to ER?
  • Indecision: Yes I can, no I can't, yes I can, no I can't...
  • Physical challenges: My atrial fibrillation, DW's planar fasciitis, etc. These things push us toward ER.
  • Run the numbers: FireCalc, budget, retirement spreadsheets, ad nauseum.
  • Decision: We will retire July 2008.
  • Excitement: Woo hoo, we are actually retiring
  • Buyer's remorse: What if things don't go well? Will we run out of money? Will we have the physical health to accomplish our post-ER goals?
  • Full or partial ER? Will we cut ties with all our income-bearing activities? We decide that we would quit our university jobs but continue our part-time textbook writing (which is currently worth about $100,000 per year).
  • Acceptance: We will adjust our writing, our portfolio, and our spending as we go to make sure we can finance our retirement and accomplish our post-retirement goals.
That's as far as we've gotten, with a lot of emotional ups and downs in between.
__________________
ScottFromUtah is offline   Reply With Quote
Old 07-22-2007, 12:26 PM   #9
Full time employment: Posting here.
Helena's Avatar
 
Join Date: Aug 2006
Posts: 599
I just retired last month and I am still adjusting to all the free time...
it seems like I am only on vacation... or in a nice dream and the
alarm clock will soon wake me at 6am.
__________________
Helena is offline   Reply With Quote
Old 07-22-2007, 01:09 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
kcowan's Avatar
 
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 5,717
Send a message via Skype™ to kcowan
I. Pre - ER
A. Oblivion – working – no thought about ER
B. You realize that a change is needed – but what needs to change has not been identified
C. Explore options to make life happier – What changes might make work more palatable
D. Identify the change really needed - that continuing to work until 62 is not for you
E. Explore if ER is for you and Plan ER – self education; financial, social; and plans for post work life
F. Establish a date for ER and then tell everyone
G. Waiting for the date to become a reality – work begins to loose its importance in your life
H. The date arrives and I am home. Do I want to start something new that is gainful? Not.

II. Early Retirement
A. Phase 1 – Immediately After ER
1. Freedom – no more routines
2. Wrestle with “Buyers Remorse” did I make a mistake – fears creep in
3. Work the network outside work to see what is happening.

B. Phase 2 – Initial Period after ER
1. “The Check List” do the things you always thought you wanted to do
2. Learn to adjust your style and also allow yourself to savor life
3. Bliss and gratitude for your ability to ER
4. Lulls and boredom - they happen.
5. It sinks in that this is your life and it is your responsibility
6. Struggle with "making a contribution" with all your skills & experience
7. Learn how to politely decline offers of gainful work

C. Phase 3 - Experienced ER
1. Making a contribution to ER Boards
2. You have a regular routine
3. You are traveling and making new friends and experiences
4. You help out real (as opposed to virtual) friends where you have needed skills
5. You tell inquisitive friends that you are a "Private Client Portfolio Manager" or that "You got up with nothing to do, and by the time you went to bed, you only had half of it done."
6. While you remain charitable, you refuse to lend or invest money with anyone (but you offer sympathetic advice and a little time if it will help).
7. You have confidence is your investment strategy and start to think about longer term wealth management.
8. You start to think about special things that you can now afford within your SWR target.
__________________
For the fun of it...Keith
kcowan is online now   Reply With Quote
Old 07-22-2007, 01:17 PM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
kcowan's Avatar
 
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 5,717
Send a message via Skype™ to kcowan
I tried to follow the instructions and found that not all the items applied to me but decided that it is better to include extra stuff rather than delete anything, After all, it is a checklist, not a story.

I am 5 years into ER. I had always planned to retire around 2002 and the events made it convenient. It has not been entirely without bumps. Especially DW who got her identity our of her business success. She went part-time in 2002 and fulltime in 2004.There might be a whole different checklist for when one spouse ERs and the other doesn't. Maybe that could be CFBs task?
__________________
For the fun of it...Keith
kcowan is online now   Reply With Quote
Old 07-24-2007, 06:03 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
dex's Avatar
 
Join Date: Oct 2003
Posts: 5,105
" A phase is the learning you encounter along the way. It is not a “how to”."
The idea of this isn't a check list.
Kcowon - thanks
__________________
Sometimes death is not as tragic as not knowing how to live. This man knew how to live--and how to make others glad they were living. - Jack Benny at Nat King Cole's funeral
dex is offline   Reply With Quote
Old 07-24-2007, 08:33 PM   #13
Full time employment: Posting here.
friar1610's Avatar
 
Join Date: Jun 2002
Posts: 820
I've been RE'd for 4 years. These are the phases I went through:
- Knowing I was ready to do so and finally doing it;
- Getting involved in a meaningful activity a couple of days a week (in addition to all the fun stuff);
- Having my wife retire and dealing with (both the joys and inconveniences of) both of us being around the house together a lot more;
- Planning for and then executing a move to a different state;
- Settling into life in the new state.

Today I tutored an illterate adult in the morning while my wife went to yoga class. When I came home, I went for a power walk. After lunch we took our kayaks to the lake and paddled for an hour+. I went to town for a haircut. We had dinner and now I'm posting while keeping one eye on the Red Sox-Cleveland game. All in all, not a bad day.

jtmitch
__________________
friar1610 is offline   Reply With Quote
Old 07-25-2007, 12:22 AM   #14
Thinks s/he gets paid by the post
 
Join Date: Jul 2005
Location: Los Angeles area
Posts: 1,432
I. Pre - ER
A. Working steadily, max out 401k, save additional $$, learn to invest - no
particular goal, you just know its a good idea
B. Still working steadily, dividends on savings start looking impressive, start
thinking about when the dividend line might cross the earned income line
C. Still working steadily, dividends could be lived on in a stretch - first thoughts
of FI, employment worries dissolve, start thinking ER might be possible
D. Still working steadily, pay off mortgage to make a big shift in required income,
start looking at non-financial aspects of ER, hanging out on message boards
E. Now ready for ER, work steadily for a few more years to 'top things off', or
until next time work sucks, whichever comes first

II. Early Retirement
A. Phase 1 – First three months - euphoria
1. Take a couple months to let the magnitude of how great ER is to sink in,
no big decisions
2. “The Check List” do the things you always thought you wanted to do
3. Learn to slow down and allow yourself to savor life

B. Phase 2 – Middle Period
1. Start making big decisions - relocation ? buy or rent ? big travel ? new big toys ?
2. Keep in good health - exercise, eat healthy, regular check-ups
__________________
learn, work, save, invest, fire
CyclingInvestor is offline   Reply With Quote
Old 07-25-2007, 07:57 AM   #15
Thinks s/he gets paid by the post
Eagle43's Avatar
 
Join Date: Jan 2005
Location: DFW
Posts: 1,880
Well, pre-retirement, I was never going to retire.
But I Did.
Post-retirement, I'm never going back to w*rk.
And I Shall Not.

I have adjusted well, and now rarely even think about the people I knew in that other life, much less the irrelevant goals, mission statements, deadlines, boring meetings, etc. Ya see, now I've made myself sick. I'm gonna need to adjust again. Where's my coffee?
__________________
Resist much. Obey Little. . . . Ed Abbey

Disclaimer: My Posts are for my amusement only.
Eagle43 is online now   Reply With Quote
Old 07-25-2007, 05:10 PM   #16
Recycles dryer sheets
aenlighten's Avatar
 
Join Date: Apr 2007
Posts: 275
I. Pre - ER
A. Working steadily, max out 401k, save additional $$, tracking your income and net worth, no particular goal, you just know its a good idea

II. Early Retirement
First three years - looking for work, planning on another career, keep options open, controlling expenses, studying investing, writing a financial plan, arriving at the SWR and realizing that is already greater than your expenses

Next three years - Unsure you really want to retire, continue to look for work because it is what you have always done, develop a routine, experience a few deaths, realize how much you hate looking for work, decide there are better uses for your time, unsure you really want to return

III. Mid Retirement
Realize there is more to life than work, more to retirement than money, decide it's time to move on and plan your future (or whatever that is now that you really don't have to do anything), live in the moment
__________________

__________________
aenlighten is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Helping in-laws sell long time residence Da Nag FIRE and Money 15 08-01-2006 11:20 PM
Another ER candidate gets it, and this time she really means it! Nords Other topics 19 06-27-2006 10:54 AM
Time to quit? quiz sgeeeee Young Dreamers 20 10-24-2005 11:50 PM
Hey folks, long time no see Whakamole Young Dreamers 9 06-18-2005 01:42 PM
A Long way to go with little time to get there: Chris Hi, I am... 2 01-24-2004 05:26 PM

 

 
All times are GMT -6. The time now is 08:51 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.