How did you know it was time to RE?

[DawgMan]

As a life long planner, as early as my early 20s, I always had a dream/plan for early RE (55... about 3 yrs from now). So now I can smell the end zone, most of my heavy lifting is done, last kid out of 4 will graduate college at 55, 2 will be married, been very fortunate to have a flexible lucridive job (self employed) I generally enjoy which has allowed my wife to stay at home since #1 popped out, always LBMMs and saved/invested... been very fortunate. I have heard the stories and personally experienced with friends the stories of "hated my job", "got laid off/fired" so can definitely appreciate those RE stories. But specifically for those of you who maybe didn't despise your job, were making good $, didn't necessarily have a huge passion to to do something else, were not overcome with health issues, come to the conclusion it was time? In other words, life was good, your friends were all working, yet you reached a goal you set out for yourself and now you feel compelled to make a decision? I have read books and and links on this site about "things to do/think about before RE", but I would love to hear from those of you who have made this smooth transition without regrets.

 

[braumeister]

To me, that's pretty simple. Assuming you're good with your planning (FIRECalc, etc.), then it comes down to one question:

Do you look forward to going to work each day, or is it just a habit?

 

[Just_Steve]

The day my Bullsh@t bucket was full and my give a "F" bucket was empty was the day I decided to go. Strange thing is it was the same day I locked in my pension and medical. What a coincidence.

 

[DawgMan]

To me, that's pretty simple. Assuming you're good with your planning (FIRECalc, etc.), then it comes down to one question:

Do you look forward to going to work each day, or is it just a habit?

Honestly, I think it is more a combination of "putting down my sword", OMY syndrome, and perhaps of feeling like I have just conceded I am in the last chapter of my life. Probably a little weird, but I have been hunting and gathering for a faimily of 6 as the only wage earner since I was 26. I think I am battling demons and assumed others may have had similar thoughts?

 

[pb4uski]

I like my job and my colleagues and most of my clients (some were PITA scum buckets, but most were good). It just felt right. Both kids were out of the nest, we had enough $$$$ and while I liked my job I didn't like the travel that was sometimes required.

The only point of more money would be more for Uncle Sam and the kids inheritance and I had much better things that I wanted to do with my time... so I quit at 56.

 

[DawgMan]

I like my job and my colleagues and most of my clients (some were PITA scum buckets, but most were good). It just felt right. Both kids were out of the nest, we had enough $$$$ and while I liked my job I didn't like the travel that was sometimes required.

The only point of more money would be more for Uncle Sam and the kids inheritance and I had much better things that I wanted to do with my time... so I quit at 56.

That's pretty much where my brain is at. Getting the last kid off the payroll was/is part of my plan to launch. I suppose part of me is wired to "produce" as long as I am able so that becomes one of the demons. I'm trying to do some test runs now at least with travel and then plan to financially try and do a dry run the yr before I RE. After that, I suppose I just jump into the pool!

 

[RobbieB]

My plan was to retire at 59 and a half, IRA age. I quit a half year early -

 

[Car-Guy]

The day my Bullsh@t bucket was full and my give a "F" bucket was empty was the day I decided to go.

My BS bucket(s) were full a few years before I retired and my "give a F" bucket was emptied about the same time too, however it took a couple more years to fill my greed bucket(s) with mo money.

Never had any regrets after leaving, except maybe that I didn't really need to stay as long as I did to fill those greed buckets so full.

 

[Hillbilly]

Several months before I retired, I had to take around 4 weeks of vacation leave or give it back to the corp. So, I took the month of September off while having my 50th too. Week 3 into the leave, my stress level had significantly dropped: I had not felt that good in memory. This experience and a VRIF package with DW's encouragement, put a fork it in for me. It was time and I haven't looked back...

 

[scrabbler1]

The first seeds of ER were planted in 1998 when I paid off my mortgage and greatly lowered my expenses. My dislike of the commute grew and grew until I was able to switch to a PT deal and a mostly telecommute gig in 2001. While this eased my dislike of my hated commute, the telecommuting part of it ended in 2003. I knew then that this would be my ultimate undoing. I began increasing my ER plan again and that took more of my attention for the next 3 years.

By 2007, I had to reduce my weekly hours worked when I had a very tough stretch in late January through early March which was taking a physical toll on me. Even though I had reduced my hated commute to 2 days a week, it was still too much and I knew the only solution was to reduce it to ZERO. When that request was granted in April to take effect in June, I was told it would not necessarily be reversible - I might not be able to go back to 20 hours per week and regain eligibility for the group health insurance. But my ER plan was moving forward in full swing and I was reasonably sure I would be ERing by the end of 2008.

In those next 17 months, I asked myself all the time, "Why I am still working here?" I was still now quite at my "magic number" and I did want to complete a big (and only) project I was working on. I barely got that done, on my final day, in October, 2008.

I can't say my BS bucket was full or my "F**k this job" bucket was full. Working PT since 2001 had somewhat emptied those buckets. Simply not being in the office very much kept me away from office BS and office politics, not that I was ever intertwined much with that. And I felt enough loyalty to the job as to not abandon a big project I was working on and I did want to reasonably transition my other projects to others, something I was successful at.

 

[Tree-dweller]

I had a new responsibility thrust upon me.
Frequent overnight travel associated with new resp.
New resp meant adversarial workdays.
Pension / 401k projections positive.
Notice given.

 

[mamadogmamacat]

My finances were all in place to go at approx age 55 (I did at 55 and 1/4). it had been this way for decades, based not on job satisfaction or the lack thereof, but on longevity estimates and wanting to have at least several years of life and good health with my time my own. Then, as the time approached, beginnig at age 52, there were changes in the job, mostly not to my liking. Still, i could have stayed longer as i was well regarded, but wanted to go while that was still true, before the pace of director level and upper mgmt changes accelerated to the point where all the new blood wanted was a changing of the guard at all levels. In fact, that is what happened about a year after I left, and several colleagues who I had a lot of respect for were forced out. Glad I went on my own terms, and was able to give notice to mgmt I knew well and still had some respect for.

 

[Danmar]

For me if was when work was more hassle than the financial benefit received for working. Both sides of the equation change over time. Work became more of a hassle as time went on and the financial benefits became less once I reached financial independence.

 

[Scuba]

I started thinking about what I wanted to do once I retired years before doing so, but didn't really focus on it until 6-9 months before I planned to give notice. I kept a list that I added to every time I thought of something I wanted to explore or just spend more time doing. My list kept getting longer and I got to the point where I was very excited about what I was moving towards, rather than simply anxious to get away from my job. A close friend told me I would know when the time was right. I did, and I think a big part of it for me was having specific things to look forward to that excited me a lot more than OMY.

 

[brucethebroker]

I felt very similar to the OP about my "dream job". The 2007 melt down changed all that, however, as my business was destroyed. We cut back on expenses and I clawed and crawled to early SS with PT gigs. Having the SS and investment income (plus a small self employed business) and lowered expenses, has allowed a very pleasant "semi-retired" lifestyle. And I enjoy it!

HOWEVER, I noticed that as I have relaxed in retirement, my BS bucket (over every day things) is raising it's ugly head. That was something I had not really experienced when all was right with the world and my w*ork. I often wonder if I just buried the stress of w*ork, and did not know the negative effects I was carrying around. That concerns me enough that I never want full time employment again.

 

[2017ish]

... But specifically for those of you who maybe didn't despise your job, were making good $, didn't necessarily have a huge passion to to do something else, were not overcome with health issues, come to the conclusion it was time? ...

We met all of your criteria except for the passion. We had a passion to 1) see more of each other; and 2) travel for more than a week at a time. When we had large enough portfolio, we let our employers/partners know to look for replacements. That was 2 years ago, and we are out as of end of July (me, maybe, earlier?).

If we didn't have a lifelong desire to pursue those two passions, we probably would have just kept working.

 

[street]

I was ready for a change mentally and finically wasn't an issue. I really wanted to do other things with my time. I also wanted to get a very part time job that had physical labor involved to stay in shape and to be involved with new people. I knew I was ready when I didn't want all the responsibilities that went along with my job. After 35 years it was time to enjoy and start a new journey.

It has been a great first 10 month's and wish now I would have done it sooner.

 

[bradaz2488]

Like most people working at a Mega Corp I was very frustrated with the system and just found no value in what I was doing. Yes, the money was great but I felt I lost my way. It was like I fell asleep at the wheel and woke up starring down 50 and not a lot of options to change jobs. Good thing I was a good saver and I reach FI at age 48. It was a big cliff to jump off of, but no regrets. The sad thing is I really do (did)enjoy working and earning a honest paycheck. From a paperboy to engineer it felt good working hard and seeing your results. It just all went to crap when I went on auto pilot in my career. I equated big raises, stock and bounces as success and happiness. However, the big paying pain in the ass job did fund my FIRE goals, So I guess I owe that to my late Mega Corp.....

 

[athena53]

When I went to meetings of my professional society, I noticed that around the time I entered my late 50s I'd feel a little twinge of jealousy when I ran into someone I knew, maybe a little older, who announced that they'd retired. One had ER'd at 57 but her husband had had a very long run at IBM, which meant they shared perks I'd never see.

When I was 58, I changed jobs because I couldn't find anything interesting internally- I worked for a very large company but I was out in the hinterlands and all the cool jobs were in Westchester or Zurich, both involving HUGE increases in COL with no promise of sufficient additional income to make up for it.

The new job lasted about 18 months before politics got toxic. I looked at the numbers, discussed it with DH, and walked out of the place for good a week after I'd broached the subject with DH. It was shortly after I turned 60. The scramble for health insurance has been an unhappy surprise- every year the pickings get slimmer and the premiums skyrocket- but I'd do it all over again. Ten more months to Medicare!

 

[Rambler]

I was a sr exec, posted overseas. When my last kid went off to college, I had a chat with the CEO and told him I'd need to move home at some point. We negotiated a deal for me to stay 4 more years. He was fired a few days later, but the deal giving me a nice parachute in exchange for the four more years stuck. When my four years were up, we moved back home. We had enough financially to retire. And, I'd become a Japan/Asia expert because I'd been there so long. Things had changed in the US. I guess I could have adapted just fine, if I'd wanted to get back in, but OTOH, it would have been much easier to find a role that would have taken me back to Japan. Within 18 months of leaving Japan I had two offers to go back, one of which the chairman flew out to try to convince me. I would have taken that one had it not been their unwillingness to wait another month for my non-compete to expire...the task they wanted me to accomplish was the only thing left that I had wanted to do in my career but never had the chance. But, I wasn't willing to break my promise to my former company, and the new company wasn't willing to wait one more month, even saying that they'd cover whatever cost incurred due to me breaking the agreement. I knew then and there that they didn't value integrity as much as I did, so I'm quite fine with my decision not to exit retirement to accomplish that one goal. Yes, I do get bored from time to time, but that's usually in the winter when my preferred activities are difficult or impossible to do. But still, even when I wake up with nothing to do, it's better than waking up to face another day of impossible BS.

 

[DrRoy]

I RE in 3 weeks. I have pretty much maxed out what retirement benefits are available, and have ample investments to cover the rest of spending. Definitely met (and surpassed) my financial goals. I picked my final date last summer, and I have generally liked my job most of the time, but since the first of the year things have gotten more difficult and I am glad my w**k time is nearly done. I am ready to travel more.

 

[Bir48die]

I knew I wanted to retire when two things happened. My company made me cut my broker's commission for no apparent reason which I thought was unethical. They just wanted to put more money in their pockets and I was already the most profitable division in the company.

The second was having fights with managers after I was home from work with phone calls and emails. My blood pressure was hitting 170/100. Then there were the two major recalls and conference call on Sunday afternoon. Couldn't wait to get out.

 

[euro]

As I was watching both of our sets of parents age and pass away, and started experiencing some of my own "age-related" ailments, I concluded it was time to explore retirement. Math and FIRECALC said "good to go". So I went. In my case, it had very little to do with work. I had a really fulfilling, well-paying job that I could have done another 5 years without any trouble, but as it turns out, I was also able to let it go pretty easily

 

[imoldernu]

After leaving the corporate world, three years in developing (and enjoying) my own growing business. 1989, In the process of financing a major expansion... larger quarters and a large investment in equipment... cashed out profit sharing, retirement pension, mortgaged home and finding backers and bank loan... then diagnosed with cancer.
With DW decided to retire and take a chance, instead of possibly leaving her with $1M in debt, and no way to recover.
Shoestring retirement... bought in a year round campground, with the thought that at age 53, always the opportunity to go back and start again... (if I lived).

Long and short of the story of what is now 27 years of happy unemployment (sans compensation).

 

[euro]

After leaving the corporate world, three years in developing (and enjoying) my own growing business. 1989, In the process of financing a major expansion... larger quarters and a large investment in equipment... cashed out profit sharing, retirement pension, mortgaged home and finding backers and bank loan... then diagnosed with cancer.
With DW decided to retire and take a chance, instead of possibly leaving her with $1M in debt, and no way to recover.
Shoestring retirement... bought in a year round campground, with the thought that at age 53, always the opportunity to go back and start again... (if I lived).

Long and short of the story of what is now 27 years of happy unemployment (sans compensation).

Good for you, Imoldernu - glad to hear it worked out for you. Sounds like you had to MAKE it work and came out on top!