done today with full-time banking.

[Fly Fisher]

Today is my last day in full-time corporate banking. I was very pleased to stumble upon this site of like-minded folks. I appreciate any insight you may have. I’m 48 and will be leaving to do part-time contract work (banking and seasonal tax prep) on a glide path towards full retirement in a few years. DW is 52 and will retire in early September of this year. We have accumulated $750k in taxable investments and $825k in retirement accounts. We have no mortgage and no kids. I plan to use funds within an HSA account to pay cobra insurance premiums for 18mos. After that period we’ll buy private health insurance on the new exchanges. We recently sold a real estate property to our business partner on a contract, which will provide $20k/year for 10 years. We will also receive $200k from a family business over the next 5 years, which will be added to taxable investments. With this income and my part-time employment we should cover most of our expenses without tapping investments before I fully retire. Our annual expenses run $60k. FIRE Calc works out to 100%.
I can’t wait to start the next chapter. We lost my father last summer and I’ve lived ~ 2k miles from family for 22 years. Losing Dad was a sobering reminder that life doesn’t wait while you’re considering making a move. So DW and I are moving back to my home state to be closer to family and life-long friends. We’re very excited about the move despite all the work of selling/buying houses, etc. I look forward to sharing more and learning from you good folks as the year progresses.

 

[braumeister]

Heartiest congratulations!


Looks like you're embarking on phase one of your greatest adventure.

 

[TOOLMAN]

Great news, enjoy!

 

[Nodak]

Congratulations and best wishes.

 

[Midpack]

Welcome aboard. Sounds like a solid plan. I'd ask what you plan to do in retirement, but your chosen forum handle speaks to that. Nicely done...

 

[Fly Fisher]

Thanks all for the replies. Yep, I'll be doing more fishing this summer than I've done in decades. Three months in MT June - Aug while DW is still working. I'll be in charge of cooking, cleaning and grilling when not fishing .

 

[Backpacker]

Congratulations from a fellow "banker" - you picked a great time to exit, with all the added reg's coming.

 

[Live And Learn]

Congratulations and welcome ! I look forward to hearing about your next chapter.

 

[powerplay]

Welcome! It sounds like you have a great summer planned. No issue about what to do all day at all.

 

[Rex]

Great Plan....Another Banker here and I understand. It's not as much fun anymore. Get out while you can. Best of luck and enjoy the fishin'

 

[Fly Fisher]

Thx for the hearty welcome. Good to hear from several other bankers. I wish you all well. First day w/out banking and we're driving to Sun Valley to x ctry ski for 5 days. This will be the longest ski trip I've taken with my DW. Day one of many more to come.

 

[MichaelB]

Thx for the hearty welcome. Good to hear from several other bankers. I wish you all well. First day w/out banking and we're driving to Sun Valley to x ctry ski for 5 days. This will be the longest ski trip I've taken with my DW. Day one of many more to come.

Sounds like fun. Do enjoy, hope it is one of many.

 

[obgyn65]

Congratulations and welcome.