Update after 1 year of ER

runchman

Recycles dryer sheets
Joined
Jun 22, 2005
Messages
304
A year ago I called it quits, after my wife had passed away unexpectedly 6 months prior. Definitely has been the best decision I ever made! I've spent the last year focusing on getting fit by rock climbing, helping my 2 daughters navigate through the loss of their mom, and clearing out my house in prep for downsizing a few years down the road.

Between transporting my 8th grader to and from school, shopping for and making dinner, keeping up with house issues, and Ebay'ing / donating excess crap, I can't imagine how I'd be able to fit a full-time job in here. The days just fly by; never a dull moment it seems.

Financially it's going well so far. My investment portfolio, which had barely crossed a million a year ago, is nearing one and a quarter. My withdrawal's are pretty low, because I'm getting > $3k survivors benefits for my kids and myself. I may get a part-time job at the lifetime fitness where I climb, to give me a bit of extra pocket money.

Note to those with kids: Get your term life insurance! We had $200k on my wife and being able to payoff the house really helped with dealing with the loss. A definite factor in being able to quit and be there for my kids when I'm needed most. Fifteen bucks a month very well spent.

Physically, I'm in better shape now at 50 than I've ever been in the past. That has been an incredible positive in my life, more than I can put into words. Having time to go to the gym frequently, without having to 'squeeze it in' around work responsibilities, is wonderful.

Emotionally, while my job was not high-stress, I feel SO much more relaxed than while working. Don't underestimate the value of inner peace.

While my situation is different than most, raising my kids w/o their mom, I just wanted to check in and say I made the jump and I'm loving it. If you are on the fence, why wait? You never know when (like my wife at 46 years old) your number might be up.
 
Thanks for sharing your update. You have a lot going on in your life and I'm really happy to see that you have made such progress over the past year! It's very inspiring to hear these kinds of stories.
 
I'm glad things have worked out so well for you and your daughters. Your planning in advance certainly helped. You are right, we never know how long we have thought most of us are probably planning a long, long life and trying to ensure our money lasts that long.
 
Thank you for your inspiring post and advice.

I wish you and your children a long, healthy life filled with love. :flowers:
 
So glad you posted this update. Your daughters have a wonderful father.
 
I'm so sorry about your wife. My first husband passed away at 38, you're right you never know.

I'm very glad to know that you were able to make such a great decision for yourself and your kids. Sounds to me that they have a great Dad.
 
Thank you for the update and for the wisdom regarding life insurance.
And for the advice about seizing the day, because you never know.
 
So glad you posted this update. Your daughters have a wonderful father.

+4

The rewards of LBYM and planning ahead can sometimes be reaped in unexpected ways. Thanks for keeping us posted and inspiring others.
 
Thanks for all the kind responses! I always thought my kids had a great dad, but then I'm a bit biased :)

- John
 
Thanks for the update. It is good you were financially prepared for the unexpected which allowed you to there for your kids.
 
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So happy to hear that you are loving no longer working for pay. Sounds like you have your priorities right. You gave some good information on the life insurance and not knowing how much longer we have in life. Thanks for updating!
 
Excellent report Runch, and good advice on the term life insurance. With two adults working, until you are FI, term life insurance is an inexpensive way to some add some assurance you will reach FI without having to change your lifestyle. That's important when you are still raising kids.
 
Condolences but congrats on portfolio growth.

I note you said you are barely tapping your portfolio and I'm curious if, when you do, you tap taxable accounts or have decided it's worth it to pay the 10% penalty?
 
.... If you are on the fence, why wait? You never know when (like my wife at 46 years old) your number might be up.

My parents died at 59 & 67. That was a big motivater in my determination to stick to my plan to retire before 50.

And yes ... the days do seem to fly by.
 
Hi runchman,

Your story sounds familiar. My wife died in an accident at 48. My kids were about to start their first and second year of college, so I didn't have them there with me. I had run some of the life insurance calculators before my daughter started college to make sure my wife was set up for their college financially if I died. What the calculators told me was that we needed more insurance on my wife! I upped her insurance and it turned out to help get my kids through college, although in my plan I was the one who the family needed to be able to get along without. You just don't know how it is going to work out.

You are doing a much better job than I through the first year and a half. Congratulations and good luck in your retirement.

Hermit
 
runchman, Some how I missed your OP, but wanted to congratulate you on having such a good year, very inspirational. Best wishes to you and your children for another good year.
 
So glad that your advance planning has allowed you to be there for your children when they need you most. And thank you for reiterating the importance of life insurance. My husband and I have been discussing a lot regarding if one of us dies prematurely, what we would like the other to do. 2013 brought a loss of one of DH's cousins, who was 30, and a colleague who was less than 40 years old and had 3 young children. Their deaths reminded me of my own mortality and the fact that you never really know how long your life will be. This past year we increased our life insurance to insure that the surviving spouse would be able to retire permanently and discussed what each of us wishes for our girls. Your girls are definitely lucky to have a father like you.
 
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