Live And Learn
Thinks s/he gets paid by the post
Hi Everyone !!!
I've been spending lots of time reading and learning since joining a few days ago. I love the support and guidance that I see from the forum members - seems like a safe place to open up and discuss my goals.
When I was 30 I set an early retirement goal for myself of 50. Plan was for DH to work a bit longer. As it turns out DH went into SER about 10 years ago (at age 44) and I'm still w*rking FT for MegaCorp. The past 2 years have been more stressful at work than usual and I struggle to get out of bed every day. I've been readling with interest the threads that discuss that sometimes its just the j*b that makes us want to ER. That's probably true in my case but I'm still not ready to give up that goal of 50 !
To achieve my goal to ER at 50 I've LBYM and maxed out on my 401K almost all my w*rking life. We don't go on vacation often (maybe once every 3 years - a cruise or a week at Disneyworld), we don't have smartphones, we still have our 15 year old big cube of a TV (purchased because our original TV died and couldn't be repaired). I do have a very nice house, but it cost less than 1/2 of what we were approved for when we bought it 10 years ago. Only debt is mortgage which I could easily pay off tomorrow without blinking an eye.
To retire at 50 I'm using a portfolio life of 40 years. Firecalc says that based upon my input my portfolio would fail 3 times (1 instance at 35 years, 2 at 38 years). Fidelity says my portfolio has a 90% chance of lasting 32 years and a 75% chance of lasting 42 years. Vanguard says I have a 80% chance of my portfolio lasting 35 years but only a 73% chance of it lasting 40 years.
I'm willing to work part time and SER for another 5 years but I really want to get on with my real goals of volunteering and making a true meaningful impact. However, the PT work I'm willing to do is $10 / hr type work. After 27 years at MegaCorp I'm about done with with BS and based upon my data that only adds a year or two to the portfolio live I calculated without the PT work.
I'd be interested to know what confidence level of portfolio longevity that those who ER'd felt comfortable with before they made the decision to do it.
My gut tells me that unless I have 90% confidence of a 40 year portfolio across all three planners that I may have alot of sleepless nights wondering if I jumped ship too early.
Thoughts and feedback appreciated.
I've been spending lots of time reading and learning since joining a few days ago. I love the support and guidance that I see from the forum members - seems like a safe place to open up and discuss my goals.
When I was 30 I set an early retirement goal for myself of 50. Plan was for DH to work a bit longer. As it turns out DH went into SER about 10 years ago (at age 44) and I'm still w*rking FT for MegaCorp. The past 2 years have been more stressful at work than usual and I struggle to get out of bed every day. I've been readling with interest the threads that discuss that sometimes its just the j*b that makes us want to ER. That's probably true in my case but I'm still not ready to give up that goal of 50 !
To achieve my goal to ER at 50 I've LBYM and maxed out on my 401K almost all my w*rking life. We don't go on vacation often (maybe once every 3 years - a cruise or a week at Disneyworld), we don't have smartphones, we still have our 15 year old big cube of a TV (purchased because our original TV died and couldn't be repaired). I do have a very nice house, but it cost less than 1/2 of what we were approved for when we bought it 10 years ago. Only debt is mortgage which I could easily pay off tomorrow without blinking an eye.
To retire at 50 I'm using a portfolio life of 40 years. Firecalc says that based upon my input my portfolio would fail 3 times (1 instance at 35 years, 2 at 38 years). Fidelity says my portfolio has a 90% chance of lasting 32 years and a 75% chance of lasting 42 years. Vanguard says I have a 80% chance of my portfolio lasting 35 years but only a 73% chance of it lasting 40 years.
I'm willing to work part time and SER for another 5 years but I really want to get on with my real goals of volunteering and making a true meaningful impact. However, the PT work I'm willing to do is $10 / hr type work. After 27 years at MegaCorp I'm about done with with BS and based upon my data that only adds a year or two to the portfolio live I calculated without the PT work.
I'd be interested to know what confidence level of portfolio longevity that those who ER'd felt comfortable with before they made the decision to do it.
My gut tells me that unless I have 90% confidence of a 40 year portfolio across all three planners that I may have alot of sleepless nights wondering if I jumped ship too early.
Thoughts and feedback appreciated.