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Old 09-12-2016, 06:56 PM   #21
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I took a one year sabbatical in 1990 (age 40) during that sabbatical I discovered how much I enjoyed not working. Main goal during that sabbatical became planning how to achieve early retirement. Figured out if I really saved and invested consistently I could really do it by age 52. Thanks to a wonderful investment environment in the 90's really actually did it by 52.

Now almost 66 never regretted it for a minute and thankfully the investment environment has been so productive since ER at end of 2002 that liquid NW has doubled even though living from investments without a pension (Until age 65 when a $396 non cola monthly pension started. Did start SS at 62 against the sage advise of this board).

I know that all news reports go on and on as to our awful investment environment for the past decade and how 4% is dead, 2% is iffy and anything above 1% WR you are taking your life in your own hands and how the world is coming to an end and nothing but doom and gloom will do but all I can report from my own personal experience is that it has been fine. Of course YMMV and future returns are not guaranteed etc etc.
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Old 09-12-2016, 07:16 PM   #22
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I had many of those fears and lots of anxiety before I left my job at 58. While I may still be in the honeymoon period (under a year), I'll give you my perspective.

1. I had a major health scare that occupied all my focus as soon as I left work. That made me think about what is really important in this life. Thankfully a few months later I am back on track health wise and able to focus on other things. Maintaining or improving health is still a priority and could take a fair amount of time each day. I don't want to spend my last good years working.

2. I take life 1 day at a time and try to make the most of it. I had originally thought I would have this vast expanse of time to fill up in retirement. Now I have far more things on my todo list than can be done in a day. Long leisurely mornings and catching up on news are priceless.

3. I have added one volunteer opportunity that is taking more time than I would like.

4. I have started to reconnect with people, so getting up and out of the house for awhile can take most of the day when you add in an errand or two.

5. My evenings have not changed at all. I either come home or start dinner at a certain time and everything else is the same as when I was working. What has changed is that the mornings are my leisure time and I do whatever I want for a few hours in the afternoon.
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Old 09-12-2016, 07:21 PM   #23
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Some of us eagerly looked forward to it with no trepidation at all.

We planned for it, we clearly envisioned what it would be like, and we leaped at it at the first opportunity.

We have never regretted it an iota.
That's me, too. And a lot of others on this forum. But we're not "normal". Rather, people like us tend to want to ER, and have the means to do it, and therefore gravitate toward forums like this.
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Old 09-12-2016, 08:29 PM   #24
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Before I FIRED five years ago I had some of the same reservations. I used to respond to them by telling myself "I can always go back to work." In the first four years of retirement I went back to w*rk for my old employer three separate times for about 9 months total. Mainly for the money but I enjoyed it too, knowing I could walk away at any time. Towards the end of the last assignment I realized I wanted my retired life back, and I haven't been back although they have asked me.

I no longer think "I can always go back to work." I now think "I can always sell my house and move to a LCOL area." The money has become progressively less important to me and my freedom has become more important. Freedom to do something or nothing as I see fit. Then again I have realized that I can be quite happy doing nothing!
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Old 09-12-2016, 09:11 PM   #25
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Before I FIRED five years ago I had some of the same reservations. I used to respond to them by telling myself "I can always go back to work." In the first four years of retirement I went back to w*rk for my old employer three separate times for about 9 months total. Mainly for the money but I enjoyed it too, knowing I could walk away at any time. Towards the end of the last assignment I realized I wanted my retired life back, and I haven't been back although they have asked me.

I no longer think "I can always go back to work." I now think "I can always sell my house and move to a LCOL area." The money has become progressively less important to me and my freedom has become more important. Freedom to do something or nothing as I see fit. Then again I have realized that I can be quite happy doing nothing!

After retirement I value my personal freedom more than ever.

Nothing money can buy is worth more than my independence.

.
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Old 09-12-2016, 10:14 PM   #26
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So I can't say that I worked toward retirement, when I first began my career with mega corp I actually like it. unfortunately over the course of 25 years things changed and I was made painfully aware that I was just a minion, easily replaceable and not highly valued.

Then between 2012 and 2014 I lost 3 loved ones all under the age of 55 (husband, baby brother and best friend). all suddenly. Hubby took me to vegas for New years, he was gone by that October. Huge wake up call that time is a huge commodity I no longer wanted to waste.

My biggest challenge has been mental. I've worked since I was 16, so not getting a regular paycheck was/is still scary.

One thing I am enjoying is trying all the things I kept putting off. Learning French, researching starting my own blog, working p/t in a bakery so boredom is definitely not an issue. I'm also less than one year retired so I'm still getting used to it but so far, I'm loving it
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Old 09-13-2016, 06:24 AM   #27
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Your list really summed it up for me, sitting here 13 days after pulling the plug. The vivid dreams about work are really a surprise. Still adjusting and I expect that to take quite awhile.
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Old 09-13-2016, 07:15 AM   #28
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6. I think I might want a really expensive car although I know they are a total waste of money
Is a vacation a waste of money? Is entertainment a waste of money? Will you enjoy the car? Me, I bought the most expensive, high end car I've ever owned since I retired & I enjoy it every time I get in it, even look at it. Net, I don't find it a waste at all.
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Old 09-13-2016, 09:58 AM   #29
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12 days into retirement. So far feels like a very long weekend. Was I 100% sure when we jumped, no, but yesterday I worked out, finished one book, read another and started another, went to a potluck to be with a friend who had survived a horrible car accident. It was a pretty darn nice Monday.
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Old 09-13-2016, 03:32 PM   #30
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Thanks all for your insights.

Firstly, its good to see that I'm not alone.

Secondly, i am envious of all those people who either had full conviction in their desire to retire or who actually have taken the leap and are enjoying it!

I would say that I have thought about retirement every day since about 2010. At that point I really had no idea how much we were spending and no idea about how much on a next egg we might need. We're not particularly worried about withdrawal rates as we will have sufficient income from pensions from age 60 to meet our needs. That does not mean to say that we are completely money worry free, of course its very difficult to make the transition from accumulation to reduction of our pot but FWIW I reckon we will use somewhere between 3-4% annually.

Part of the problem I have with work is that there are aspects of it that I really like - its challenging, international travel is interesting and I get paid really a lot of money. But there are some things I just hate, late nights, being disturbed at weekends, the constant corporate bullshit etc.

To some extent its my own fault as I've got myself somewhat painted into a corner whereby I have been doing the same role for the last 8 year. Its not a defined leadership position in the organizational structure and therefore nobody else really wants to do it. They know I am good at it so they don't want me to stop but they also have made no effort to promote me which....and I am honest enough to know this....probably means that my face won't fit into a true leadership role. I've been up for some very senior positions and seem to have made the last two but never got the final nod.

For that reason part of me thinks F*ck 'em. but the other part of me knows that it gradually eats away at me and then I think well...if they are prepared to pay me a deep six figure salary i can't be that bad.

So potentially the transition to not working scares me a bit. Not really because I think i will be bored but because work has been such a bit part of life that it will take a long time to simply switch off. We actually took a three month sabbatical in 2014 and went off travelling - that was supposed to be the precursor to retirement but for some reason I just never pulled the plug. Good thing was I think that was the real me. I grew a beard. first time in my life. and it looked good.

The challenge is, now is the right time to go - there's nothing holding us back but I want to structure it in such a way that I don't leave under a cloud (after 20 years with the same company that would be nice) and I potentially leave on financial terms that gives me a nice send off and potential door open to a future consulting gig.

Sorry for rambling....its very therapeutic
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Old 09-13-2016, 03:51 PM   #31
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No better place to ramble than here.


Enjoying life!
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Old 09-13-2016, 05:43 PM   #32
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bclover, I'm so sorry for your loss. I can't even imagine the pain you have gone through losing your DH.

I'm very much an OMY'er.

I think being FI is more important than actually RE. Work is mostly OK, I am adding a lot of value, it pays well, and keeps me engaged mentally. I've worked since I was 16, and its my default programming to continue to do so as long as all of the above 4 criteria are met.

Jumping out of a perfectly good airplane is really hard, its sufficient for me to have built high confidence that I could.
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Old 09-13-2016, 06:44 PM   #33
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For me I keep working for the money to really put myself over the top of what I feel is needed but also to button every last detail up. I am a business owner and have responsibility to customers, co-owners and employees. I can't just walk away. My retirement wrap up could take a few years but will involve less and less work.
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Old 09-13-2016, 07:03 PM   #34
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Some of us eagerly looked forward to it with no trepidation at all.

We planned for it, we clearly envisioned what it would be like, and we leaped at it at the first opportunity.

We have never regretted it an iota.
+1. I may be in the minority (along with Braumeister), but I really had no trepidation about retirement at all. I had anticipated it, and planned for it, for so long, that when the time finally arrived, there was no hesitation, and I have not looked back at all. I had a good career, and mostly enjoyed my job (until near the end), but after 31 years, I was more than ready to move on to another chapter. I think it is really important to seperate your career from your identity - I see lots of folks that have problems doing that.
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Old 09-13-2016, 07:04 PM   #35
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I didn't know this website existed till several months ago- its so nice to get advice from and just bounce things off of people who have already done this- I don't know anyone personally who has retired as early as I want to. Its also wonderful to talk to people who LOVE being retired- everyone I talked to said I'd be bored- glad to know that no one here is- makes me feel like I probably won't be either.
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Old 09-14-2016, 12:44 AM   #36
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I too have always wanted to retire young, but when it actually began to pencil out as doable a few years ago, I was scared to do it. Partly fear of no more paychecks and partly fear of getting bored as I am a "type A" personality. A few retired friends told me I would know when I'm ready. They were right! The certainty I feel now is very clear, and I'm confident I will love being retired. Plus my fear of running short of money was somewhat irrational, while my fear of running out of time happens to people every day. You will know when you're ready. Listen to your gut.


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Old 09-14-2016, 05:28 AM   #37
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When you pull your hand out of a bucket of water, does it leave a hole?

That's your value to your employer. So don't spend too much time worrying about your w*rk-related questions.

_B
This may be the best quote I have EVER seen, and is right on the money. I was laid off from my next-to-last j*b, in a grotesquely unfair way, for political reasons (not that I'm bitter or anything ). I heard from several former co-workers there was considerable protest and consternation from the rank and file. That probably lasted one day, at most. Strangely, in the 6+ years since, the company has managed to thrive without me.
When I ultimately ER'd on my own terms, I never looked back. And I don't dwell on whatever contributions to the corporate world I may or may not have made.
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Old 09-14-2016, 06:36 AM   #38
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Some of us eagerly looked forward to it with no trepidation at all.



We planned for it, we clearly envisioned what it would be like, and we leaped at it at the first opportunity.



We have never regretted it an iota.

This ^^^
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Old 09-14-2016, 07:05 AM   #39
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I retired last year at the age of 55. It was the best move I ever made. It was hard adjusting initially. Every day felt like it was Saturday. Now I'm about 14 months into my retirement and could not be happier. I went to my high school re-union this past labor day weekend and met many others in my class that retired at 55 and all are happier than ever. We keep busy with projects around the house, travel, hobbies and entertaining.
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Old 09-14-2016, 07:30 AM   #40
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I've been easing into RE. This year I'll consult ~32 weeks. I still get approached about going in-house full time but they can't match 20 weeks of vacation. My income is up, stress is down and I only do the w*rk I like with the good clients. My goal next year is 50/50.
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