Greetings, I ER'd in 4/08 after 3 years of planning for it. The decision did not come easily but I believed it was the prudent thing to do knowing that time and good health are finite. My house modest, 1000 sq ft, paid off and very affordable. Fully remodeled in '06 in anticipation. Vehicles in good condition, paid off, at least 5 years life left. No debt. Portfolio totaled just barely over $1M on last day of work. My material demands are not high and I can live my life with feeling too limited on about $32K a year. It looked like smooth sailing ahead.
Before things turned bad, former employer offered 20 hours a week paid as hourly through June 09. I debated and took it. This reduced draw from $32 to $10 to $12K.
Present, I enjoying leaving work at noon, I enjoy flexing my time when I want. Stress from work dropped tremendously. Portfolio down to $800K+. Firecalc says I am still good. Markets are cliff jumping on a daily basis. I am finding it hard to take. I find comfort in having very close to 10 year cash/fixed asset cushion with no work, but no new vehicle budget in that worst case scenario either. 10 years takes me to age 62.
Worst financial times in my life were '79-82 but I was in the military, no investments, managed to save up downpayment for house and bought one in '82. Crash of '87, working full time, investments small at that time. 2000-2002 Recession, way more luck than skill, went mostly to cash in January 2000 and did not go back in until August 2003. Was working full-time then and missed all the anxiety.
The worsening economy is very worrisome but still sleeping and not obsessing too badly. I might have more P/T work in 2009 and I might not, and I might not be able to find much if the economy is bad. Health good. Concerned "ex" may not continue to fund daughters education due to what all this is doing to her, I want and have to help my daughter if necessary.
The increasing talk that this could be a Depression seems more plausible. I have dismissed the possibility of this ever happening again my whole life, however the potential seems to be there now or so I think.
I have run some scenarios through FIRECalc and I am thinking that maybe it would be prudent to move some moneys from equities to cash, maximizing cash and minimizing equities but still shooting for 100% probability of success. I realize this could be a mistake and odds are it would be. Of course it might be a mistake to stay the course as I am if this is going to be as bad as the 1930's. Whatever I decide it feels like I am gambling with my future.
The only areas of my life that I can make cutbacks too is going out to out which I do frequently and ditching my home phone. I suppose I could go cut trees to burn for heat but that is hard work from the time you start the saw to cleaning out the ashes. I am too old for that. I could take in a boarder but need to widen my driveway for that. Being six mile from the State U. makes that possible. We would need to be in a Depression for me to consider doing that.
I am enjoying semi FIRE. I really really really don't want to go back to work full time especialy at my old job.
I did not think I be tested this hard this fast. It is scarier for me then some, I have no living adult relatives, nobody to fall back on. However my whole life I have been a survivor. I still have an excellent work ethic and health. I am pretty sure I still have more assets than most of my neighbors and co-workers. Job loss for any of them spells a bigger immediate disaster than anything I am currently facing.
If I had planned on Retiring in Oct '08 and that was one of my options I would have seen this coming and probably not left my job. I believe it would have also scared me into ever trying any Semi-ER or ER until age 62. In the course of my life that might have been a sadder situation in the long run.
Ideally I would rather be focusing on decompressing, expanding hobbies, civic involvment as I have without this unexpected anxiety. So all I can do is a very truthful line from a not so good movie..... Adapt, Improvise, Overcome.