1 1/2 years into an unexpected early retirement

[pb4uski]

Can you clarify what you mean by $15k of taxable income.... do you mean that you have $15k in income from taxable accounts or is the $15k after deductions and exemptions (what shows up as taxable income on your tax return)?

And as others have mentioned, if your 2018 income is low enough to qualify for a subsidy you can either call texchange and have them adjust it and your monthly premiums will be reduced or you can get it back when you file your 2018 tax return.

Other than that, with $39k of spending and $WR is 1.4 million of retirement assets, your withdrawal rate is only 2.8%, which should be sustainable unless your asset allocation is ultra-conservative.

Continue working on finding things to do that give you pleasure and satisfaction.... but don't read too much into that.

 

[4legsgood]

I can relate as well, single female, 57, retired 2 years ago. Respect had dwindled at work for about 5 years (software, when I started, you didn't even need a degree, by the time I left new hires were advanced degreed, from Stanford etc). I guess what was good about that was I gradually by necessity lost all ego associated with the job and it was a huge relief to leave. Dog sitting eased me into a pretty fun relaxing lifestyle. I now want to travel but first need to get my asset allocation into a more 'no peeking' situation, but thank goodness for the last 2 years of agressive allocation to increase net worth.

 

[Fleur58]

Can you clarify what you mean by $15k of taxable income.... do you mean that you have $15k in income from taxable accounts or is the $15k after deductions and exemptions (what shows up as taxable income on your tax return)?

15K of income from taxable accounts

Hi, 4legsgood: I love to travel. Since I stopped working I've been to China, Tibet, Vietnam, Hong Kong, Bali, Greek Islands, tour of 7 European countries over the holiday season and a Carribean cruise!

Yep, thats where I splurge.

 

[4legsgood]

...
Hi, 4legsgood: I love to travel. Since I stopped working I've been to China, Tibet, Vietnam, Hong Kong, Bali, Greek Islands, tour of 7 European countries over the holiday season and a Carribean cruise!

Yep, thats where I splurge.

That's a fantastic list of places. Currently, I 'splurge' on my daughter's college education but she'll dog sit for me while I take a road trip through Utah in April. Hopefully that will go well and more travel will be an option.

You mentioned getting part-time work. If you can get work as self-employed, then you can deduct non-subsidy portion of health insurance premium. That was a pleasant surprise to me when I first did my taxes as a dog sitter.

 

[ivinsfan]

15K of income from taxable accounts

Hi, 4legsgood: I love to travel. Since I stopped working I've been to China, Tibet, Vietnam, Hong Kong, Bali, Greek Islands, tour of 7 European countries over the holiday season and a Carribean cruise!

Yep, thats where I splurge.

So these trips are off budget, I didn't seen a budget item for travel. Just wondering if you see this level of travel continuing.

 

[Fleur58]

ivinsfan: Off budget. This level of traveling cannot continue, after 2018 I am done for a while. I do feel I can afford to take one nice trip per year. The trips I am going on this year (which I have not described) are already paid for, just need spending money. The assets I mentioned initially do not include this years living expenses and vacation spending money, which I have sitting in a bank account.

If I have any vices it is a penchant for nice vacations. My old jobs involved domestic and international travel, and I got used to the perks of travel including traveling business class. After I first stopped working, I took a few trips to help me forget and lick my wounds in 2016. I didn't want to come home.

 

[ivinsfan]

Travel as a single can get expensive but since you no longer work there are lots of great domestic places to visit in shoulder or off season. No travel might feel like a real loss to you. Getting a healthcare subsidy might make you feel easier about spending money on traveling.

 

[Markola]

For what it’s worth, my dad, an introvert engineer in Florida, struck up a relationship online with a lady who had retired from Kentucky to a very affordable and very large retirement community near Clearwater. He ended up selling his home and buying an apartment in that community to be near her. I think he paid $60K for it, and Florida has no income tax. Plus, Florida... With so many other people around in their similar age and situation, there are tons of organized activities and resources at hand for them to take advantage of and meet neighbors when they want to. It’s been really good for them both. YMMV.

 

[gladiator280]

Hi I am due to retire this year also. Like many I do not have something to retire to but a demanding job to retire from .

I’m 55 and have put in 36.5 years at my job ( 35.5 full time ).

It makes no sense financially to keep working . There is no more financial gain by not retiring .

Although I am concerned about the adjustment - I am not worried .
Eventually I will have a routine and I have been known to be spontaneous . So bring it on !

I will do my best to keep physically fit , mentally and socially active.

The rest should just fall into place for me . I am just going to embrace the change and roll with it . Life is too short anyways .

Cheers

Ontario

 

[brucethebroker]

Hi I am due to retire this year also. Like many I do not have something to retire to but a demanding job to retire from .

I’m 55 and have put in 36.5 years at my job ( 35.5 full time ).

It makes no sense financially to keep working . There is no more financial gain by not retiring .

Although I am concerned about the adjustment - I am not worried .
Eventually I will have a routine and I have been known to be spontaneous . So bring it on !

I will do my best to keep physically fit , mentally and socially active.

The rest should just fall into place for me . I am just going to embrace the change and roll with it . Life is too short anyways .

Cheers

Ontario

Good for you! Welcome to the rest of your life.