Being "Early Retired" Means........

[Telly]

I am starting this topic for the benefit of our working bretheren. Who may be reading this at work... watch it! here comes the boss!

I thought about this as I walked into the mall on a weekday morning. It is easy to take for granted all of the many things that are great about ER. I had a grin on my face as a I walked around, realizing, once again, that Being Early Retired Means... no boss, and no customers!

So tag on an ER observation here, folks! We have to keep the light on at the end of the tunnel for the working masses!

 

[John Galt]

"No boss" is nice. In my case I mostly ran the show for the second half of my working life. I recall a big sense of relief upon hanging it up
as I no longer had to deal with my employees. I would say "no customers" was a close second. Here, I am compelled to repeat myself for the benefit of any ER
wannabes who may see this. Truly, retiring early on a wing and a prayer was probably the best decision I ever
made, and I made a lot of big ones in my 60 years on the planet.

John Galt

 

[Cut-Throat]

The Top Ten Reasons for ER !

10.) - Not seeing the 1 or 2 co-workers that made life miserable.

9.) - No more Sexual Harrasment training.

8.) - No more sitting in rush hour traffic !

7.) - No more sitting through Salary/Personal Reviews!

6.) - Not seeing your Boss

5.) - Not watching Co-Workers Kissing up!

4.) - Sleeping In whenever you want

3.) - Sitting on your deck with a cup of coffee in the Sunshine and not feeling like you should be doing something.

2.) Going on Vacation, without having a firm return date set.

And the number one reason for ER is !


1.) - Looking forward to Monday Mornings !

 

[moguls]

Cut-Throat hit the nail on the head. Couldn't have said it any better.

Moguls
(still getting into the ER mode)

 

[Bob_Smith]

I agree. Cut-Throat nailed it. I'm going to print his "Top Ten Reasons for ER" and tape it to my desk at work to keep myself on-track. I'll put it alongside a small photo of a co-worker - a good friend who was in perfect health - then dead within 8 months of cancer at age 52.

I do find the prospect of being without a regular paycheck to be far more frightening than I expected it to be as ER approaches. Although I've been planning for 12 years, the thought of going without a net is more daunting than I ever imagined. This group helps, and Cut-Throat, you defined exactly why I want out.

 

[wzd]

Means.........arriving at the mall for some impromptu shopping and saying 'oh damn...I forgot its the weekend'.

Wayne

 

[unclemick]

I'm sitting here reading YMOYL almost eleven years after ER - to paraphrase.

Owning your own time - to do what you want when you want within vary wide parameters.

 

[Wheels]

Its great to just sit here at 10pm, readiing this kind of stuff, not worrying about what time to go to bed to be able to get up for work. My big worry is getting up early this Saturday morning to head out, dragin our hilo trailer to Florida for winter in the sun. Its great, not a complaint.

 

[adviceseeker]

One thing I have learned from reading this site for several months is that while many of us are anxiously awaiting retirement, few of us have the same situation from which to make that life-changing decision. Some people take an "early retirement" (me) and decide to go back to work either full or part time. I never planned to do this, but some stock market shocks give you reason for concern....if you are giving up a job that provides some financial comfort, but you do not have unlimited resources, it is easy to hold off retiring because the older you get the less likely it is you will find supplemental income approaching what you gave up.

Many people talk about 4% or less as a safe withdrawal rate, but many of us have a mortgage (especially if you are truly taking and "early" retirement) that must be factored in. Even if your spending habits are under control, the cost of medical care, the potential that pensions may be lost (Enron) and the uncertainty of Social Security and inflation give you reason to pause.

Some postings start my talking about "early retirement", but their spouse still works. Not sure this is what many of us mean by early retirement. In addition, it seems that some people are perfectly content to stay at home and spend no money. While this may be acceptable to some as a way to get out of a job they hate, I don't believe most retirees want to live this way....many enjoy traveling, entertainment, etc.

Early retirement is surely a very personal decision...I really enjoy reading everyone's comments, and they provide new ways of looking at the issue. I believe my first early retirement (2/2001...for seven weeks) will happen again in 2004...this time for good, but not without some second thoughts.

 

[John Galt]

Some observations about being retired with a working spouse. My former spouse refused to work even when
I was "busting my pick" every day. One of the reasons she is my former spouse. Anyway, when I retired completely in June, 1998, I was single. I did not
remarry until October, 2001, and things were going along just fine ER-wise while I was a bachelor. My wife now is five years younger,
and while we could make it even if she did not work
(or worked only part time), that paycheck makes a big difference.
On the other hand, our finances are kept completely separate, so it's a bit hard to say exactly how much impact her working has had on my financial situation
compared to my single days.

I apologize if I repeat myself here. An old Texas boy
that I know opines that "A workin' wife is more valuable than a pumpin' oil well!"

John Galt

 

[John Galt]

Oh man Cut-throat, if that was all I did while my wife was working she would throw me out and I would deserve it!

BTW, would more than one Lexus be Lexi??

John Galt

 

[Cut-Throat]

Johngalt,

Well, I must admit I left out a few things. I unload the dish washer and I did finish the downstairs bedroom this past year. And I fix all the things that need fixin!

My wife thinks, I'm a Godsend, hopefully this will continue

 

[unclemick]

Guess What Guys

I do the cooking - possibly coming from living in New Orleans too long. There are times when she says it's time to sacrifice some of my more exotic creations to 'the lake gods' (throw it off the back porch into Lake Ponchartrain) and go get
take out from the local seafood place 3 miles up the road.

 

[Telly]

Back on topic... Back on topic... Back on topic... Back on topic... Back on topic... Back on topic...

Being "Early Retired" Means........

Going outside late on a starry Sunday night and enjoying the Geminids Meteor Shower -  8) 8).

Without ever thinking:

"Man, I've got to get to bed, work early tomorrow"
 or
Missing it by spending the evening on the PC doing take-home & planning work for the week ahead.
Or doing reports.

 

[Telly]

The meteor shower is declining rapidly, may see something between darkness and moonrise. Last night it was one viewable every 2 - 5 minutes. Tonight would be less events. Look to the East, and up roughly 30 degrees or so. Moonlight will wipe it out.

But either way, you can get first row seats for the performance of Sirius, the Dog Star. Where the phrase "the dog days of summer" really came from. At 10 PM, Sirius is the bright star about straight Southeast, and up about 30 degrees or so. It really twinkles and puts on a show. Sirius is the brightest star seen on earth. About 8 light-years away.

Being "Early Retired" Means... Watching a star that produced the light you see when retired, WHILE you were working!

 

[John Galt]

Hi GDER! Yeah, you gotta love it (ER). Re. your theoretical 5 p.m. quitting time, back in my pre-ER
workaholic days I did not have a quitting time.
No kidding! I felt like I was "on" 24/7. Finally
decided I was killing myself and quit cold turkey.
I was lucky as a lot of folks drop dead in harness.
Speaking of which, we saw 'Somethings Gotta Give'
last night. Jack N. was great as usual. Funny and much more upbeat than 'About Schmidt' which has been
discussed to death on this site. People of my age
group will appreciate this movie the most I think.

John Galt

 

[John Galt]

Although I have lost count of my posts (having posted under 3 names and as a guest), I must be close to 600 or so. Don't believe I ever covered this.

Being ERed for me also means worrying about elderly parents. My folks are 86 and 83, thankfully in reasonably good shape for their ages. They live nearby
and I am the only sibling in the area. Of course, they
rely on me more and more as time passes. I am glad to help, but it does complicate any planned relocations,
even on a "snowbird" basis. Also, there is the
financial issue. My parents are comfortable but not
affluent. I never give them any financial advice, and
they never ask. My Dad is quite stubborn about that
and thinks he is a lower middle class version of Warren Buffett. In reality he knows almost nothing about
financial/tax issues. Figures things are comfortable and simple now so they will stay that way, I guess.
No long term care insurance of course, and they pay too
much for many things rather than shop around. On top
of my guilt about possibly moving away, I would like to help them anticipate future issues, knowing they are
unprepared. A real conundrum! Would like to hear from others who have faced this.

John Galt

 

[frugal]

John Galt it is difficult to try and help elderly parents whether you are early retired or not. My in-laws are 83. They were not managing there retirement well, i.e. spending more than they had coming in and not being realistic about continued independent living. Anyways when my father in-law had a heart attack and was placed in a nursing home they were forced to make decisions. They never accepted our advice i.e. protecting the house from sale and now the house has been sold and they live in separate assisted living. Anyways your parents will only take advice if they are willing to listen. So, don't be surprised if they are not receptive to advice. Good luck! We also would not move away from them.

 

[unclemick]

The elderly parent issue goes way beyond ER - can you imagine still working and having to deal with it like 'millions' of other Americans.
In my case, after 5 years of independance, my mother's arthritis meant selling the old Victorian style house in the Pacific NW and moving here - at almost 2 years into ER. She was able to RV and travel with us in the early years but time takes its toll.

Plenty of financial issues - which I'm stuck with since she still has the Great Dpression on the mind.

Most of the emotional stuff is dealing with the gradual reversal of the parent-child relationship over time. I work what ever is workable and let the rest go - remembering how teachable I was once I became a teenager.

I know others in the elderly parent situation - most still work and their situations are probably more stressfull than our own.

One more thing - I had friends and neghbors keeping me posted 1989-93 so I knew when to pull the plug so to speak.

 

[BunsGettingFirm]

Great list, but you forgot this one: Not having to check one's back for knife handles.

The Top Ten Reasons for ER !

10.)   -  Not seeing the 1 or 2 co-workers that made life miserable.

9.) - No more Sexual Harrasment training.

8.) - No more sitting in rush hour traffic !

7.) - No more sitting through Salary/Personal Reviews!

6.) - Not seeing your Boss

5.) - Not watching Co-Workers Kissing up!

4.) - Sleeping In whenever you want

3.) - Sitting on your deck with a cup of coffee in the Sunshine and not feeling like you should be doing something.

2.) Going on Vacation, without having a firm return date set.

And the number one reason for ER is !


1.) - Looking forward to Monday Mornings !

 

[cute fuzzy bunny]

THATs what that was. I thought my mattress was getting thicker over time.

 

[John Galt]

For the past couple of days being ERed has meant looking for a place to park a big pile of cash. Has to be
liquid. I've been moving it all around to banks
pitching promo rates for about 2 years now. So far,
I have rarely taken less than 3%, and after a lot of computer and phone time I find I can still get it today.
The downside is this typically lasts only a few months
and then you have to shop again. Also, each bank has
different rules on checkwriting, minimum balances,
penalties if you close the account before a certain time.
The point is that with a lot of work I've kept the 3%
alive and the cash totally liquid (and FDIC insured).
That's a good deal in today's market.

John Galt