e86s54
Recycles dryer sheets
- Joined
- Jun 4, 2009
- Messages
- 190
Over the past 10 years or so, I have started to think about ER. I am now 47 and ER is now possible. However I can't help but think back and reflect on what the reality of it is. Here are my thoughts.
First, about 10 years ago I unexpectedly become a multimillionaire during the tech bubble. At that time, ER became a possibility and got me thinking about it. However, I was too young (read immature) to realize the implications. Anyway, I sat on the stock and rode most of it all the way down...so that dream evaporated. Now that 10 years have passed, I have built a much more stable base and in the last year the ER idea has resurfaced as a possibility again, so I started doing my research.
1- Finances for retirement are hard. My finances are mostly tied into a "bricks & mortar" business. Getting things set up for retirement involves difficult decisions and actions.
2- People spend way more time thinking about getting into a position to retire and pay no attention to what happens when you retire. I have met a few older guys (mid to late 60s) in the last week who still run their business 6 to 7 days a week, even though they don't need the money. They both have vacation homes in warm exotic areas they seldom visit. Both say "Yeah there was a time that I thought I might like to retire" This confuses and scares me a lot since I am highly engaged now and have been for some time. It's kinda like The Shawshank Redemption movie, where they discuss being institutionalized.
3- How Much Do I Need? In the last year I have set myself some financial goals to enable ER. Unexpectedly, I keep meeting them and then change the number higher. I know I have enough and it could always be better, but it can't seem to sink in! (see topic 2).
4- How will I deal with being different? I will be the only person I know in my circle of friends and neighbors who will be ER. Except for an ex pro athlete and he has purchased and runs a junior club that keeps him very busy. Most of them are set to work for another 10 or more years before they can even think about retiring. They'll really be institutionalized by then!
5- The workplace keeps changing. It's funny what happens when you tell your boss you want to leave. They make it hard by changing the rules for the better. For example, they now are allowing me to work 3 to 4 days a week with fewer responsibilities. My friends say "how can you leave that job...really good money, few worries and responsibilities with stock options, etc?"
6- The anxiety of change as the date gets closer. I have set myself a date that allows a months notice and if I want to take advantage of the summer I need to decided in the coming 30 days. So I feel that pressure.
In the end, I know the answers to all of these, but knowing isn't the same as feeling it and sinking in. These are just things that I had/have to deal with in my road to ER. I can't help but think this is similar to many of you and perhaps a bit of a heads-up for others just starting to consider ER.
I'll work it all out and I can't see myself working full time for Mega Corp much longer, but it hasn't been as much fun preparing for this than I thought it would be.
E86S54
First, about 10 years ago I unexpectedly become a multimillionaire during the tech bubble. At that time, ER became a possibility and got me thinking about it. However, I was too young (read immature) to realize the implications. Anyway, I sat on the stock and rode most of it all the way down...so that dream evaporated. Now that 10 years have passed, I have built a much more stable base and in the last year the ER idea has resurfaced as a possibility again, so I started doing my research.
1- Finances for retirement are hard. My finances are mostly tied into a "bricks & mortar" business. Getting things set up for retirement involves difficult decisions and actions.
2- People spend way more time thinking about getting into a position to retire and pay no attention to what happens when you retire. I have met a few older guys (mid to late 60s) in the last week who still run their business 6 to 7 days a week, even though they don't need the money. They both have vacation homes in warm exotic areas they seldom visit. Both say "Yeah there was a time that I thought I might like to retire" This confuses and scares me a lot since I am highly engaged now and have been for some time. It's kinda like The Shawshank Redemption movie, where they discuss being institutionalized.
3- How Much Do I Need? In the last year I have set myself some financial goals to enable ER. Unexpectedly, I keep meeting them and then change the number higher. I know I have enough and it could always be better, but it can't seem to sink in! (see topic 2).
4- How will I deal with being different? I will be the only person I know in my circle of friends and neighbors who will be ER. Except for an ex pro athlete and he has purchased and runs a junior club that keeps him very busy. Most of them are set to work for another 10 or more years before they can even think about retiring. They'll really be institutionalized by then!
5- The workplace keeps changing. It's funny what happens when you tell your boss you want to leave. They make it hard by changing the rules for the better. For example, they now are allowing me to work 3 to 4 days a week with fewer responsibilities. My friends say "how can you leave that job...really good money, few worries and responsibilities with stock options, etc?"
6- The anxiety of change as the date gets closer. I have set myself a date that allows a months notice and if I want to take advantage of the summer I need to decided in the coming 30 days. So I feel that pressure.
In the end, I know the answers to all of these, but knowing isn't the same as feeling it and sinking in. These are just things that I had/have to deal with in my road to ER. I can't help but think this is similar to many of you and perhaps a bit of a heads-up for others just starting to consider ER.
I'll work it all out and I can't see myself working full time for Mega Corp much longer, but it hasn't been as much fun preparing for this than I thought it would be.
E86S54