What's holding you back?

H

HillCountry

Recycles dryer sheets
Joined
May 15, 2011
Messages
375
Location
Austin
For me, it is purely because my two little ones are still in elementary school. I see 2023 when my youngest goes to college as my retirement date.

Besides money, I guess kids are the biggest consideration for most people. Any other things that are holding you back?
 
Uncertainty more than anything else. We have enough to retire, but there is that little nagging uncertainty about what happens if all the investments tank. Fortunately, we don't have any debt, so we could get by on very little, but it wouldn't be pretty.
 
67walkon said:
Uncertainty more than anything else. We have enough to retire, but there is that little nagging uncertainty about what happens if all the investments tank. Fortunately, we don't have any debt, so we could get by on very little, but it wouldn't be pretty.
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I could have written this reply.

Search this site for "one more dollar" to see posts from others who are in the same position.
 
I enjoy my current lifestyle and am holding on until my investments are sufficient to support it. I could cut back and retire earlier with a reduced lifestyle, but it would impact me and my kids. In a happy coincidence, a few more years accomplishes a large enough nest egg and sees youngest child through college, so I'm holding back for that.

It's also helping stress level a great deal to know I could leave my employment just by adjusting lifestyle, which is a choice I am making.
 
67walkon said:
Uncertainty more than anything else. We have enough to retire, but there is that little nagging uncertainty about what happens if all the investments tank. Fortunately, we don't have any debt, so we could get by on very little, but it wouldn't be pretty.
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Yep, that sounds familiar.

rbmrtn said:
access to health insurance
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Yep, that too.

I will get the access to HI in 3 months. Won't be cheap, but will be available. After that, it is that "uncertainty" thing. There's also a non-zero chance of MegaCorp offering a RIF/LO/SEEYA package in the next year or two, especially if we have a another economic dip. I've already made up my mind to take advantage if that happens. Actually, kind of waiting for it.
 
Nothing. Retired 5 1/2 years ago when I realized that I'm going to die anyway, so I might as well enjoy myself before I do.
 
I don't understand the kids thing. Hubby is retiring in 15 months, and I'm retiring in 4 years - our kids will still be pre-college.

For us it's money... Need to finish paying off the house (2 years left on that with current aggressive payoff plan), and funding kids 529s (again, fairly aggressive funding to meet the retirement dates.
Health care also translates to money. We want to see how the dust settles after 1/1/2014.

But - like JoeWras - my megacorp could very well lay me off. We'd make due with what we have... No future job for me. I won't quit/retire for 4 years... but if they push me... I'm done.
 
rodi said:
I don't understand the kids thing. Hubby is retiring in 15 months, and I'm retiring in 4 years - our kids will still be pre-college.

For us it's money... Need to finish paying off the house (2 years left on that with current aggressive payoff plan), and funding kids 529s (again, fairly aggressive funding to meet the retirement dates.
Health care also translates to money. We want to see how the dust settles after 1/1/2014.

But - like JoeWras - my megacorp could very well lay me off. We'd make due with what we have... No future job for me. I won't quit/retire for 4 years... but if they push me... I'm done.
Click to expand...

While targeting a 2014 ER date I have reservations. My job is considerably better than when I joined the forum. (March '09). Since joining I have reached FI which is a big piece of the puzzle. I am able to do what is productive and what I want to do at work. Plus my DW reitred last year and joins me on occasional adventures.
Part of me fears I won't pull the plug but rather wait until they throw me out the door. I have told co-workers I'm waiting for an early exit package but that is unlikely. Meanwhile I'll enjoy the ride.
 
Children. Mortgage. Uncertainty.

Our children will still be in primary school when I retire next year. Building enough fat into the budget to cater for the future needs of four people instead of two as well as a mortgage that will still have 7.5 years to run made a huge difference to the numbers.

I could have gone at the end of last year but didn't have the confidence to pull the trigger.
 
Retired now, but held back until DS graduated high school and we could downsize from two houses to one house. The sale of the house did two things - it topped off the retirement nestegg and reduced our expenses by 15-20% and made ER more physiologically comfortable.
 
Children. HI. Uncertainty.

Current plan is to wait for my youngest to graduate from college, which is hopefully in 10 years.
 
Prefer the work activity to some of the other things I do (internet, a bit too much beer, stupid tv.) Yes, of course, there are better things to do, but I noticed I do not do them. Being self employed, with busy and slow times, I got many opportunities to test it.
 
For me, I think it's my own "youth" or mental. I know some have ER'd much younger than me and successful at it.

At age 43 with young kids (just starting elementary school), it's hard to imagine having enough money for basic and unknown needs for say 50 years, so sure it's the amount of $$.

I'm targeting semi-ER (landlording) for age 48 - 50 now, this will shorten the unknown. Currently, basic annual budget is covered by rental income so job just adds to savings, investments, and crazy money which I try to do once a year.
 
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Nothing, we're there. I'm in my 40's with 3 kids. We have several rental houses, a military pension (with health-care, SBP, and COLA's), a flight school, and several $100k in taxable and non-taxable dividend producing stocks. Wasn't luck that got us here - it was damn stubborn attention to detail and relentless pursuit of goals--and plenty of obstacles along the way. No, it wasn't luck or smarts. Took 25 years. Done. Give me the next goal.

Passive Income > Expenses = Financial Freedom (no matter the age). Magic is, I get to control both sides of the equation. If we want bigger, better, nicer things, we increase the means side of the equation first before increasing the expense side. If an income side stumbles, we decrease the expense side, period.
 
Been free for over 6 years now:dance:

Kids were in 6th and 9th grade. Having time for them was great! The work travel and corp. BS was really starting to sink its teeth into me - I am so glad I got out when I did. You may want to try and get out while your kids are young/at home also - I had not really considered that as much as how the job was killing me..
 
Me: semi-retired and love what I do so it is not work.
Hubby to be: Kids (one in college and one junior in hs), child support, and wants to buy the business he works at.

Hopefully by 2020 he can semi-retire and I can eat bon bons on the couch while watching afternoon tv!
 
I'm still well within my "saving" period, being only 31. However, the thing that will certainly hold us back the most is our kid(s). We have a 6mo old, and we're thinking of 1 more before I go for the 'ole snip-snip, and we want to provide at least a good chunk of their college education.

Part of me looks at Firecalc projections and says "In 2 years, you'll have enough money in your 401k to let it ride for 28 years before you can withdraw. It'll be huge by then!" The other part of me is thinking about college tuition in 18 years and cringing.

I think in a few years we'll have to seriously contemplate going part-time and spending a lot of time with the kiddos while they're growing up. I hope that I can keep my high paying job and ditch half of the hours lol :dance: They've been flexible on my schedule so far. :)
 
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