Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 02-27-2013, 05:17 PM   #1
Thinks s/he gets paid by the post
Lisa99's Avatar
 
Join Date: Aug 2010
Location: The Villages
Posts: 1,327
Did you have a defining moment when you KNEW that you would retire as soon as possible?

Today I had a truly horrendous day at work. On the way home I stopped at the store to pick up stuff for dinner and thought...hmmm I think I'll buy some flowers to cheer myself up.

Then my FIRE voice kicked in and said, "what a waste of money!".

So instead I came home and bought $5,000 worth of Vanguard Small Cap Index Fund.

As of today, I think I can truly say this board's lessons have sunk in!
__________________

__________________
Learning how to be still, to really be still and let life happen - that stillness becomes a radiance -
Morgan Freeman
Lisa99 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 02-27-2013, 05:25 PM   #2
Recycles dryer sheets
 
Join Date: Mar 2011
Location: Dallas
Posts: 457
For me, it was when we moved back to Los Angeles. Leaving at 6 a.m. and returning home at 6 p.m. 5 days a week.
Earned a paycheck and had to spend it to live frugally.

Living in Mexico for 8 months gave us the bug to return in April. When you find yourself w*rking / commuting 60 hrs a week for not much benefit makes you cut your spending in half and live off your savings earned interest / divy's and not w*rk.

Spearfishing is really cool too! Like hunting and fishing wrapped into one...
__________________

__________________
Surewhitey is offline   Reply With Quote
Old 02-27-2013, 06:38 PM   #3
Recycles dryer sheets
chasesfish's Avatar
 
Join Date: Feb 2013
Location: Marietta, GA
Posts: 124
I was 22 or 23, had been working my rear end off at a company for two years, but the boss a second level up was a complete jerk. He was called out on something he did blatantly wrong, and responded by threatening me with my job. I really needed this at the time, my wife was in the middle of vet school and the job market in that area were just awful. I remember how small I felt at that time and said never, ever again.

A few months before my wife ended vet school, I transferred within the company to Atlanta where there are always employment opportunities in my industry, and I have always been cordial with management at my competitors. Both my wife and I work and we live so that either us of could loose our job and nothing would be disrupted. That 50% savings rate has really started building a nice portfolio. I've also been lucky enough to work for some phenomenal people in that same company and am still with the same organization
__________________
chasesfish is offline   Reply With Quote
Old 02-27-2013, 06:54 PM   #4
Recycles dryer sheets
 
Join Date: Aug 2009
Posts: 61
Within a few months of my first real job after college. That's when I started thinking about it.
It became obvious I would actually be able to retire early when I got married and I was able to start saving a significant portion of my paycheque.
__________________
Chelhxi is offline   Reply With Quote
Old 02-27-2013, 07:04 PM   #5
Thinks s/he gets paid by the post
Major Tom's Avatar
 
Join Date: Nov 2009
Location: SF East Bay
Posts: 3,129
There was no defining moment for me, but I have always had a "hope for the best and prepare for the worst" mentality.

When the company that I loved working for closed down and laid me off, I was really glad that I had been preparing for the worst.
__________________
ER, for all intents and purposes. Part-time income <5% of annual expenditure.
Major Tom is online now   Reply With Quote
Old 02-27-2013, 07:16 PM   #6
Recycles dryer sheets
KM's Avatar
 
Join Date: Jan 2007
Posts: 391
Quote:
Originally Posted by chasesfish View Post
Both my wife and I work and we live so that either us of could loose our job and nothing would be disrupted.
This.

I dont know when I started to think about or realize I could retire early - but I do remember from the time we were married DH and I lived the same way. My parents never lost their jobs, but I remember as a kid in the 70s they had many friends that did. I never wanted to be one of the 40-somethings that lost my job and lost my house. So we always LBOM to ensure we could support ourselves if one of us had to go to work at McDonalds.

Then we woke up one day and realized we didnt have to work much longer. It was a great feeling.
__________________
KM is offline   Reply With Quote
Old 02-27-2013, 07:36 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
travelover's Avatar
 
Join Date: Mar 2007
Posts: 9,899
For me it was working 30 consecutive 18 hours days at a location 200 miles from home.
__________________
Yes, I have achieved work / life balance.
travelover is online now   Reply With Quote
Old 02-27-2013, 07:36 PM   #8
Recycles dryer sheets
comicbookgujy's Avatar
 
Join Date: Jan 2013
Posts: 178
After 3 months in my first real job, my department was laid off due to a merger. Saw a lot of people in their 40's and 50's crying.

I didn't want to find myself ever in that situation so I always try to save 25% to 50% of my paycheck
__________________
comicbookgujy is offline   Reply With Quote
Old 02-27-2013, 07:47 PM   #9
Full time employment: Posting here.
EvrClrx311's Avatar
 
Join Date: Feb 2012
Posts: 524
$5,000... thats a lot of flowers you turned down. Good choice.
__________________
EvrClrx311 is offline   Reply With Quote
Old 02-27-2013, 07:54 PM   #10
Full time employment: Posting here.
 
Join Date: Jan 2008
Posts: 610
For me it was more about reaching FI rather than ER. I have long been obsessed with having enough money not to have to work. Probably since I was 18 and joined the Military. To that end I stuck out a 20 year career and now have a second career that is going pretty well.

I always thought the decision to ER would be easy, but not so in my case. Much harder than I ever thought.
__________________
NanoSour is offline   Reply With Quote
Old 02-27-2013, 07:59 PM   #11
gone traveling
 
Join Date: Feb 2013
Location: Leominster
Posts: 137
Quote:
Originally Posted by NanoSour View Post
For me it was more about reaching FI rather than ER. I have long been obsessed with having enough money not to have to work. Probably since I was 18 and joined the Military. To that end I stuck out a 20 year career and now have a second career that is going pretty well.

I always thought the decision to ER would be easy, but not so in my case. Much harder than I ever thought.

Awesome job thanks for your service and keep up the great work.
__________________
GolfingDuo is offline   Reply With Quote
Old 02-27-2013, 08:01 PM   #12
Dryer sheet aficionado
 
Join Date: Feb 2013
Location: Small town in flyover country
Posts: 43
Quote:
Originally Posted by EvrClrx311 View Post
$5,000... thats a lot of flowers you turned down. Good choice.
My first thought when I read the OP was to suggest that the key to her ER was to get into flower sales That sounds a lot less stressful to me than my current j*b

On a more serious note, I got serious about ER in 2009 near the bottom of the market when my entire division was shut down and outsourced to a group in India. Ouch.

I was fortunate with two companies early in my career that put me on track to ER, but the layoff was a major wake-up call to me. I saw that I needed to actively manage my finances and career if I was going to stay on track for ER. I bought a copy of Quicken, tracked every penny we spent, and trimmed down our budget considerably. I also took our portfolio back from our #!#$!!! advisor and learned to manage it myself. Our returns are no longer substantially lower than the market due to 2% annual fees.

-Fean
__________________
Spirit of FIRE
Fean is offline   Reply With Quote
Old 02-27-2013, 08:02 PM   #13
Full time employment: Posting here.
 
Join Date: May 2007
Posts: 530
I was very unhappy at my job and thought I needed a job change. I found a new job, and within a couple of months at the new place realized that I was just as unhappy. I was 32 at the time, and I definitely consider this a defining moment - I realized that I needed out of the whole corporate scene, that changing jobs just shifted my unhappiness from one job to another. That started me on the path to FI and I put together a plan for getting there.
__________________
ksr is offline   Reply With Quote
Old 02-27-2013, 08:28 PM   #14
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,932
Quote:
Originally Posted by Lisa99 View Post
Did you have a defining moment when you KNEW that you would retire as soon as possible?
After 23 years of marriage, my divorce at age 50 left me destitute, with a temporary soft money job and a towering debtload to pay, hounded by bill collectors and in a town where I was a newcomer and knew nobody. It was enough to rattle anyone's nerves a bit, I suppose.


Not having much fondness for playing the "victim" role, I decided to put all my effort into making a good life for myself that anyone would want. To me, a good life meant things like owning my own home and not having to wait until I was older than anyone else before retiring.

Hitting bottom is always a great defining moment. For those who prefer melodrama, here's a great film clip:

__________________
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 02-27-2013, 09:01 PM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 11,019
W2R gets the prize for the most appropriate movie clip!



I think my defining moment was when I received an inheritance in 2005. It involved property, an investment trust and cash. The day the proceeds from the house sale were transferred to my account I realized that new possibilities were open to me.
__________________
Meadbh is offline   Reply With Quote
Old 02-27-2013, 09:13 PM   #16
Moderator Emeritus
laurence's Avatar
 
Join Date: Feb 2005
Location: San Diego
Posts: 5,234
Not a "retire" moment, but an FI moment: Watching my step-mom break down and cry because she had less than $20 in the ATM and couldn't withdraw it to buy dinner. I was ~8 years old. I didn't understand money but knew I never wanted it to be the constant worry it was for my parents. Now my only worry is my kids getting too spoiled. I sound positively curmudgeonly when I tell my kids, "You don't know how lucky you are!"
__________________
laurence is offline   Reply With Quote
Old 02-27-2013, 09:19 PM   #17
gone traveling
 
Join Date: Oct 2012
Posts: 329
Had a really tough first few years when working. Went through a patch after voluntarily leaving a job I hated without having another lined up. Took me a while to find another . Used up all my savings. I was 30. Decided from then on then the only way to live and work is FI.
Take pride in the fact that I have never stayed in a job once I had enough of the BS. Longest I've lasted in one place was 5 years.
__________________
UserRequested is offline   Reply With Quote
Old 02-27-2013, 10:46 PM   #18
Thinks s/he gets paid by the post
David1961's Avatar
 
Join Date: Jul 2007
Posts: 1,076
Not a real defining moment for me. Started thinking about ER shortly after I started working. At that time it was a dream, but slowly it became more feasible.

And congrats on buying the index fund. As you watch the $5,000 grow in the upcoming years, you can buy flowers to celebrate.
__________________
David1961 is offline   Reply With Quote
Old 02-27-2013, 11:09 PM   #19
Thinks s/he gets paid by the post
steelyman's Avatar
 
Join Date: Feb 2011
Location: Triangle
Posts: 3,218
I knew I would go in 2006. I had a terrible manager then who was later fired, and I just ignored him and worked with other academics in the US and Europe. But I did probably the same spreadsheet all of us do, put the pedal to the metal, and was free in 2011.
__________________

steelyman is offline   Reply With Quote
Old 02-27-2013, 11:28 PM   #20
Thinks s/he gets paid by the post
 
Join Date: Nov 2009
Posts: 3,871
Quote:
Originally Posted by Lisa99 View Post
Did you have a defining moment when you KNEW that you would retire as soon as possible?
There were several defining moments in my path to ER. But I can choose one of them which really accelerated my trip there.

Back in 2003, I was working from home most of the time as part of a part-time arrangement I ahd had since 2001. It was wokring well until the company bigwigs ended any open-ended telecommuting arrangements. I could still work part-time but I had to fulfill all of my hours at the New Jersey office, threby bringing back to me many of the horrors of the commute I had been able to avoid the previous 2 years.

Even though I continued working there for 5 more years, I knew at the time of this switch that it would be my eventual undoing, or retirement. I put up with thie 3-day-a-week trips to New Jersey until I was able to reduce it to 2 days a week in 2007. But in those 4 years I was ramping up my work on my ER budget spreadsheet, running the numbers nearly daily to see what my expenses would be and what kind of investment income I needed to generate from cashing in my rapidly growing company stock.

In 2007-2008, the pieces of my ER plan were rapidly falling into place so by the end of 2008 I could resign and ER.

But I can trace this accelerated move toward ER to late 2003 when the telecommute gig ended. Lisa99, that was my turning point, or defining moment, when I knew I would ER as soon as I could. I found it deliciously ironic that it was 5 years to the DAY the telecommute ended that I ERed (10/31/2008 versus 10/31/2003, both Fridays).
__________________

__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
scrabbler1 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


 

 
All times are GMT -6. The time now is 06:34 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.