To Successful ER's...what were the 6 issues you focused on in the 6 mos prior to ER?

J

JohnAZ

Confused about dryer sheets
Joined
Sep 27, 2007
Messages
8
See my post in the "Hi, I'm ..." forum. I feel I am so close to putting an end to my "career" but I just don't know if I can pull the trigger. At 55, I feel I have pretty close to the right amt of $$$ t(about 1.1MM) to live comfortably for 35-40 years. I feel my professional discipline (HR) is portable enough to get the occasional contract/consulting work. Kids are grown, debt is low. I'm concerned about health (no current problems) and healthcare cost and coverage and quite honestly just taking the step.

So, to those who felt that they have made a successful transition, please tell me the 5-6 things you focused on in the last 6 months prior to ER

Thanks and Regards,
 
I had reached my target $$$ in 2004, but work was still pleasant. In 2006, work conditions
went from excellent to intolerable, so I retired at 48 (with a lot of $$$ padding). My final focuses -

1) Health insurance cost, availability
2) Was I sufficiently miserable at work to leave an easy $135K job (programming)
3) Since most of my $$$ was in IRAs, prepping for 72t withdrawals
4) Start looking at possible retirement locations
5) Start planning vacations
 
Can't think of 6 things. Already had health insurance in place so not much to do other than trying to keep the smile off my face in front of my work buddies. :)
 
I'm still 18-20 months out, but focusing on:
1) maximizing my last two remaining bonuses
2) preparing my replacement
3) figuring out exactly what I want to do
4) health insurance (healthy now at 46, but what will 56, 66 bring:confused:)
5) planning what I want to do and making sure I have funds/materials available while I still have employment income
6) trying to figure out where I want to live in 10-20 years when I am ready to downsize (not ready yet, won't be when I FIRE)
 
I retired a few years ago in my early 50's.

Issues of importance in last 6 months:

Health insurance options and being sure of availability rules of the coverage I wanted.

Double checking deferred compensation projections. That was needed to tide me over until start of pension.

Double checking my pension rules and new developments.

Deciding how to word my retirement letter to the office so it was very positive and uplifting--but still said I didn't need my job anymore, so they could take it and &^$^&*.
 
Rambler said:
I'm still 18-20 months out, but focusing on:
1) maximizing my last two remaining bonuses
2) preparing my replacement
3) figuring out exactly what I want to do
4) health insurance (healthy now at 46, but what will 56, 66 bring:confused:)
5) planning what I want to do and making sure I have funds/materials available while I still have employment income
6) trying to figure out where I want to live in 10-20 years when I am ready to downsize (not ready yet, won't be when I FIRE)
Click to expand...

I am probably 25 months out, since I that is when I will qualify for lifetime healthcare. At 6 months out, I plan to focus on:

1) double checking my planned asset allocation
2) determining the exact date when I plan to retire, and going to personnel to check and make sure we are on the same page; giving notice
3) preparing my home for sale and calling my realtor, Emile, for comps
4) selling all of my furniture since it isn't worth moving out of state
5) getting a credit card since I don't have or want one, but might need one to rent a small truck for the move
6) opening a bank account in a bank that has a branch in my planned ER location (if I haven't already done that)

At that point I will already have cleaned out my files at work, and will have written instructions for my successor (who can't be hired until after I am gone and my position opens up). I will have taken all my personal books/files home except for a handful left for the last day.
 
Last edited:
I have about 5 months to go and have been:

1. Determining exactly when I need to turn in my final paperwork with our new "Human Capital Management" system now in place.
2. Figuring out which home improvement projects to tackle first once I retire.
3. Getting all of my estate planning up to date.
4. Thinking about where I want to live (althought that will be 4 years out due to a child still in school).
5. Figuring out how to fend off being persona non grata at work now that I've given notice of my pending retirement.
6. Thinking about how I'm going to celebrate!
 
1) Stealing pencils
2) Trying to think of 5 other things to worry about.
 
1. Will my income pay my bills for 30 years?
2. Will I be able to sell my house?
3. Will I be happy relocating to a new state?
4. Will I be happier not working?
5. Will I have sufficient activities to occupy my time?
6. What will I do if my financial forecast is wrong?
 
1. Will my FIRE date ever get here?
2. Will my FIRE date ever get here?
3. Will my FIRE date ever get here?
4. Will my FIRE date ever get here?
5. Will my FIRE date ever get here?
6. Will my FIRE date ever get here?
 
REWahoo said:
1. Will my FIRE date ever get here?
2. Will my FIRE date ever get here?
3. Will my FIRE date ever get here?
4. Will my FIRE date ever get here?
5. Will my FIRE date ever get here?
6. Will my FIRE date ever get here?
Click to expand...



Ditto what he said.:D
 
1. Run FireCalc showing 4% SWR or less
2. Prepare 35 year forecast for income and expenses.
3. Prepare to downsize to a nicer place with low maintenance
4. Decide whether part-time consulting is worth it
5. Arrange suitable health and life insurance
6. Decide to portray my new status as part-time private portfolio manager
 
1. Is the slot limit recently established on my favorite northern Minnesota walleye lake tolerable or should I make reservations someplace else? Or both?

2. Sit-on-top or sit-in kayaks?

3. RV?

4. Continue to handle landscaping related chores myself or hire a service?

5. Stick with current automobile fleet or add something brand new to start RE with? (Intertwines with #3 above.)

6. One serious issue........ Go with my Megacorp retiree hospitalization plan for both DW and myself or switch her to a state sponsored retired teacher plan? (Answer: switched her. My Megacorp retiree plan as a single plus her retired teacher plan together are significantly less than Megacorp's retiree plan for a couple. Downside is having to learn two plans, track them, etc.)
 
1-Is three weeks notice enough ?
2-Is my suitcase empty and my passport current
3-Make sure I have bank transfer set up at Vanguard
4-Burn my scrubs & throw away nurses's clogs
5-call friends and tell them I can now do lunch
6-Make sure I have enough sun screen,beach chair and good book
 
A big so what ?

1) What can I sell the boat for and how fast?
2) what can I sell the house for and how fast?
3) Verify my retirement eligibility again.
4) Can I get rid of my stuff and junk when I sell the house/boat?
5) How can I get the rest of my stuff to my next home.
6) How will I manage to keep my mouth shut and not get into trouble to delay screw up my retirement. :rant:

What a lame article either you want to do it or you don't. This is just filler stuff somebody needed to fatten some magazine. Sure some folks have a problem with retirement, some folks have a problem with winning the lottery, so what? :duh:

Maybe it is propaganda to keep the weak kneed working their butts off and contributing to the system, fine let 'em do it. Like one honest soul said about me retiring "more of a chance for me to get promoted" bless his little a** kissing heart. So what ? Your going to feel better dying at your job from overwork and stress, why?:cool:
Kitty
 
Lots of fun suggestions.

I would pay attention to some tax issues.
1. Fund my Roth IRA while I am still working.
2. Look at maximizing deductions and minimize income while I am a high bracket
3. Investigate all of the rules associated with my 401K since I am 55 and can withdraw money penalty free
4. Make sure that I have enough cash/income to live until I reach 59 1/2.
5. If you plan on doing any HR consulting while retired contact any firms that might be pontential clients.
6. Network like heck
 
- Looking at tax efficiency strategies and positioning for them.
- Watching the portfolio grow and continuing to adjust the allocation for the draw-down phase
- Variety in Insuri needed and the cost.
- Downsizing the Home.
- Figuring out how to create a tax efficient/penalty free income stream before 59.5.
 
Keep your eye on the prize

JohnAZ said:
Hey Kitty! Great input...thanks for responding!
Click to expand...


Remember this is all about you and your family. Do the best you can to prepare, try to think ahead like the logical soul you are, then
PULL THE PLUG when your ready! It would be a safe bet if the organization felt you should go they wouldn't hesitate to send you packing, ready or not your gone.

Working is more than a paycheck it friends/enemies, social interaction, a label you wear, something to talk/brag curse about, a great time waster, work is also a box we put our selves into, crawl out of that box and there is a whole world to explore.

Kitty

Most of the things I worried myself sick about for years and years Never Happened. I am doing fine, life is good.
 
Humm...six things. My wife and I have 68 more working days to go. Guess the only thing I am really focusing on at this time is just passing the time.
 
You must log in or register to reply here.

Similar threads

R
What Next? Advice to setup finances for ER
Replies
8
Views
2K
RE-Fin-54321
R
A
Mission 1/1/22: Please Pressure Test Our Plan!
Replies
14
Views
2K
Retch The Grate
Retch The Grate
ShokWaveRider
What Demographic do You and Your Friends Fall into?
2 3 4
Replies
96
Views
7K
street
street
K
6 month FIRE anniversary, interesting times
2
Replies
41
Views
8K
RetMD21
R
Fireup2020
Feeling frustrated in "new/old" workplace
Replies
5
Views
1K
HFWR
H

Latest posts

Back
Top Bottom