Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 11-27-2007, 03:00 PM   #21
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
FinanceDude's Avatar
 
Join Date: Aug 2006
Posts: 12,484
Wish I would have started investing in my 20's than my 30's..........hoping I can retire at 55, although it may be 57 or 58..........
__________________

__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)


This Thread is USELESS without pics.........:)
FinanceDude 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 11-28-2007, 05:31 PM   #22
Full time employment: Posting here.
 
Join Date: Apr 2006
Posts: 944
I had always thought (although seldom) that I would leave megapharma at 55 - when I was vested in the co. medical bennies. I really loved my job for most of my carreer esp. as a rep. Regional management was fun for several years but the travel, politics and heaping of more responsiblity w/o compensation or even a "nod" stated burning me out. Then new management started mandatory conference calls several time per week that were incredibly inane and self serving along with weekend meetings. I was becoming miserable - but still planned the 55 plan. I found this forum - crunched numbers - used FIRECAL and.....holy crap -- I had enough!! I bailed at 49 and could not be happier - so actually I retired earlier than I thought would be possible..... I love this place!

Now if I had found this site 3 years sooner..........nah, not going there :>)
__________________

__________________
Freed at 49. You only live once - live it
Donzo is offline   Reply With Quote
Old 11-28-2007, 06:23 PM   #23
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Purron's Avatar
 
Join Date: Nov 2007
Posts: 5,584
I am quickly closing in on my last day of w*ork. I'm 52 and will ER 1/4/08. As a matter of fact, I turned in my notice at work just a few days ago and was surprised by the shocked reaction of many of my collegues.

I'm in the phase right now of trying to adjust to the idea of not being employed. After all, I have been w*orking for over 34 years. It's kind of like an identity crisis. Back to the point of this thread, yes, I would like to have been able to pull the plug earlier. In may case, however, I think that would not have been possible since my husband and I didn't receive any kind of windfall and instead saved slow and steady for many years to get to this point in our lives.
__________________
Purron is offline   Reply With Quote
Old 11-28-2007, 07:08 PM   #24
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Moemg's Avatar
 
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 10,035
Quote:
Originally Posted by Purron View Post
.

I'm in the phase right now of trying to adjust to the idea of not being employed. After all, I have been w*orking for over 34 years. It's kind of like an identity crisis.

I had worked 39 years when I retired .I did go thru or I should say I slept thru an adjustment period and then I woke up raring to go !
__________________
Moemg is offline   Reply With Quote
Never considered ER...
Old 11-28-2007, 09:55 PM   #25
Full time employment: Posting here.
 
Join Date: Feb 2006
Posts: 987
Never considered ER...

When I left the military in '71 (went in '67) my first "real job" lasted 7 years, until the company was bought out. At that time, there were no IRA's nor 401K's. The company did have a retirement income plan (age 65), but since the federal law at that time for defined benefit plans was 10 years with the company for any benefit, I received no benefit since I left before the 10 year window was up.

The next company I went with (in '79) also did not have a 401k, but did have a defined benefit plan, also at age 65 (reduced with age/service at "85 points"). I started my IRA when they became available in '82 (my wife, in '83). Both my wife/me enrolled in our respective 401k's in the late '80's, when they were offered. At that time, the defined benefit plan was dropped (start over, again!)

At the time I had both the 401k and IRA started, I was in my mid 30's, with no intention of retiring till age 65, which was the then current full SS retirement age (now, for me it is 66).

Through a LBYM lifestyle, along with increasing our contributions to our respective plans (up to 33% of our combined gross income since 2000), and a very good period in the market resulted in my retiring this year at age 59. My wife will be joining me next year, at age 60, but she is yet not "ready", since she too always planned on "normal retirement age", whatever that is!

Being that we retired sooner than we expected, we're still ahead of the game. Could I have gone earlier? Yes. Was I "ready"? Don't think so. This year turned out to be "just right", and I know I made the right decision...

- Ron
__________________
rs0460a is offline   Reply With Quote
Old 11-30-2007, 10:06 AM   #26
Full time employment: Posting here.
Retire Soon's Avatar
 
Join Date: Nov 2005
Posts: 655
Quote:
Originally Posted by Purron View Post
I am quickly closing in on my last day of w*ork. I'm 52 and will ER 1/4/08. As a matter of fact, I turned in my notice at work just a few days ago and was surprised by the shocked reaction of many of my collegues.

I'm in the phase right now of trying to adjust to the idea of not being employed. After all, I have been w*orking for over 34 years. It's kind of like an identity crisis. Back to the point of this thread, yes, I would like to have been able to pull the plug earlier. In may case, however, I think that would not have been possible since my husband and I didn't receive any kind of windfall and instead saved slow and steady for many years to get to this point in our lives.
Congratulations, Puron! January 4th is going to come very fast for you. Enjoy your new found freedom.
__________________
Retire Soon is offline   Reply With Quote
Old 12-04-2007, 05:12 PM   #27
Full time employment: Posting here.
cardude's Avatar
 
Join Date: Feb 2006
Posts: 599
I wanted to retire at 40, two years ago, but couldn't get the wife on the same page. We just bought a newer house that she wanted, so I'm hoping I can talk her into it now but with some changes.

I've always wanted to sell the business and move us to some exotic local, but she is more interested in staying in Texas and getting the kids educated, and I gusss I really can't argue with that. The kids have 7 and 9 more years of school before they go off to college, so I guess I can wait on our exotic locale and just ER now and be the yard man or whatever at the new house. She's cool with taking trips with the kids when they are on summer break for a couple of months out of the year, so I guess we can test different places to move to eventually that way.

I just signed with a broker to help sell the business, so hopefully I'll be out of a job in 6 months to a year!
__________________
cardude is offline   Reply With Quote
Old 12-04-2007, 08:27 PM   #28
Thinks s/he gets paid by the post
growing_older's Avatar
 
Join Date: Jun 2007
Posts: 2,608
Still have some years to go, but I'm pretty strongly identifying with the comments where new management adds responsibility and hassle to j*bs but no compensation changes. Makes me sure I will want to retire earlier, as soon as it's possible to do so.
__________________
growing_older is offline   Reply With Quote
Old 12-09-2007, 02:23 PM   #29
Full time employment: Posting here.
mountaintosea's Avatar
 
Join Date: Aug 2006
Posts: 553
If not for this board I might still be at work! I was planning to quit at age 56. But the same old story... Change in management, increasing caseload, decrease in experienced attorneys and more micromanaging tactics etc. Glad I took the leap. Do I wish I would have done it sooner? Don't know...
__________________
mountaintosea is offline   Reply With Quote
Old 12-09-2007, 07:03 PM   #30
Thinks s/he gets paid by the post
Rambler's Avatar
 
Join Date: Jul 2007
Posts: 2,250
If I find when I FIRE that I don't need to have as much for living/playing expenses as I think I need (18-24 mos from now), then I will wish I had picked the handcuffs and gone earlier. BUT, like work expanding to fill the time alloted to do it, expenses are likely to expand to use up the money alloted to them...(;

R
__________________
Rambler is offline   Reply With Quote
Old 12-09-2007, 07:11 PM   #31
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Purron's Avatar
 
Join Date: Nov 2007
Posts: 5,584
Quote:
Originally Posted by Rambler View Post
BUT, like work expanding to fill the time alloted to do it, expenses are likely to expand to use up the money alloted to them...(;

R

Just like junk expands to fill all available storage space
__________________
Purron is offline   Reply With Quote
Old 12-09-2007, 07:18 PM   #32
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,919
Quote:
Originally Posted by Rambler View Post
expenses are likely to expand to use up the money alloted to them...(;
I hope so. I do wonder if I'll get stuck in my present LBYM mode, even after ER when (according to plan) I will have more to spend and can let go a little more.

I would ER right now except that I am waiting for my lifetime medical.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 12-09-2007, 07:30 PM   #33
Moderator Emeritus
Khan's Avatar
 
Join Date: Aug 2006
Location: Pine Island, Florida
Posts: 6,868
Send a message via AIM to Khan
Quote:
Originally Posted by Want2retire View Post
I hope so. I do wonder if I'll get stuck in my present LBYM mode, even after ER when (according to plan) I will have more to spend and can let go a little more.

I would ER right now except that I am waiting for my lifetime medical.
I find it takes some effort to not spend less.
__________________
"Knowin' no one nowhere's gonna miss us when we're gone..."
Khan is offline   Reply With Quote
Old 12-10-2007, 05:32 PM   #34
Dryer sheet aficionado
 
Join Date: Dec 2005
Posts: 38
Want2Retire must work for the feds or gov...me 2....waiting for lifetime medical. Game plan is 2-3 year tops.
__________________
frugal-one is offline   Reply With Quote
Old 12-10-2007, 06:45 PM   #35
Thinks s/he gets paid by the post
 
Join Date: Jul 2004
Posts: 1,072
Latest date would be 6.5 years from now at 50, earliest date would be 1.5 years from now at 45 - mid-term would be 47. In two years, we believe I could retire with him working only for a few more years - or if something drastic happened, we'd be OK. 4 more years at the least for him, possibly 8 more. We will be fine with medical and a pension with staggered pensions, after-tax and tax deferred options ove rthe years for income. We are very fortunate.
__________________
Deserat aka Bridget
“We sleep soundly in our beds because rough men stand ready in the night to visit violence on those who would do us harm.” - George Orwell/Winston Churchill
deserat is offline   Reply With Quote
Old 12-11-2007, 07:53 AM   #36
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,919
Quote:
Originally Posted by frugal-one View Post
Want2Retire must work for the feds or gov...me 2....waiting for lifetime medical. Game plan is 2-3 year tops.
You're right! 697 days left before I qualify, and counting down every day.

I wish I could quit now, but maybe, in one sense I am lucky. I have the promise of lifetime medical to force me to work longer and accumulate more than I really think I need. You never know what the future will bring, so maybe someday I'll be glad that I saved more during these last two years.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Old 12-11-2007, 10:53 AM   #37
Thinks s/he gets paid by the post
 
Join Date: Jul 2003
Location: Pasadena CA
Posts: 2,695
Lets see, 82 days to go for me. I had lightly thought about retiring at 55 most of my career. Technically I could have but there were a few lose ends. DW retired last year and loves it and youngest son just started college (a state school, Yes!) So it looks like going out 03/03/2008 at 57.5 for me. Not bad. I still like my job, I used to love it. But the future is looking bleak so I do not want to be here 12-18 months from now.
I also wanted to avoid retiring into a recession but if I have enough then its time to go regardless of the market.
__________________
T.S. Eliot:
Old men ought to be explorers
yakers is offline   Reply With Quote
Old 12-11-2007, 11:10 AM   #38
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,919
Quote:
Originally Posted by yakers View Post
Lets see, 82 days to go for me. I had lightly thought about retiring at 55 most of my career. Technically I could have but there were a few lose ends. DW retired last year and loves it and youngest son just started college (a state school, Yes!) So it looks like going out 03/03/2008 at 57.5 for me. Not bad. I still like my job, I used to love it. But the future is looking bleak so I do not want to be here 12-18 months from now.
I also wanted to avoid retiring into a recession but if I have enough then its time to go regardless of the market.
Congratulations! It won't be long now.

I agree that if you have enough, then it's time to go regardless of the market. Personally I don' t think it's possible to figure out whether or not a given retirement date will mean retiring into a recession (my crystal ball is broken). Given that, I am dealing with that possibility by just assuming that I will retire into a recession. If there is no recession, well, then great! I'll have that much more to live on.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is online now   Reply With Quote
Just about there
Old 12-15-2007, 09:08 PM   #39
Confused about dryer sheets
 
Join Date: Aug 2007
Posts: 3
Just about there

Hello Group, I will be retiring on January 31, 2008, after almost 30 years with the City, all within the same Dept. My problem is what will I do with so much free time. I will only be 56 then and my mine is still active. I really enjoy my job but the new management doesn't respect my knowledge and experience and it's not fun working there anymore. My co-worker depend on me a lot to solve problems and lot's of them are betting that i'm not going to leave. They going to lose that bet, i signed the retirement papers last week and i'm good as gone. I could have retired 7 yrs ago but i'm glad i stayed as they changed the retirement plans and i been able to build up a comfortable retirement fund since that time. Money will be no problems, I just need to fine things to do to keep me busy. I enjoy reading the threads on this forum.
__________________
TROYRAY is offline   Reply With Quote
Old 12-15-2007, 10:33 PM   #40
Full time employment: Posting here.
Retire Soon's Avatar
 
Join Date: Nov 2005
Posts: 655
Congratulations TROYRAY on your retirement. I'm sure you'll find a lot of good ideas on what to do with your free time on this forum.
__________________

__________________
Retire Soon 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
Anyone have any stories about ERing earlier than you had planned? glen12 Life after FIRE 39 08-12-2012 02:34 PM
Rental income to FI RE earlier Eyerishgold FIRE and Money 79 11-20-2010 03:44 PM
That was quicker then I expected. Maybe a year earlier whitestick Life after FIRE 26 10-07-2007 06:22 PM
What to do? Lake House or earlier FIRE ? panhead Young Dreamers 29 06-13-2006 11:05 PM
Social Security Trust Fund is now projected to run out earlier! Cut-Throat FIRE and Money 2 05-01-2006 06:06 PM

 

 
All times are GMT -6. The time now is 12:59 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.