I write this because, prior to my own FIRE, I searched for stories/details of what happens after one pulls the trigger. After 4 years of consideration I pulled the plug on high stress Silicon Valley (I live in middle US) job and retired at 60. Firstly, many who said I would be bored or unfulfilled without the daily challenges of my job we’re not correct. Like anyone largely defined by their careers for 40 years, the first couple months were challenging. I gave myself 3 months to “find” my newself and reset my compass. I had set up somewhat of a unique financial approach to my first 5 years of retirement, so I set that system into motion. My initial goal was to reduce my taxable income to ~$62K which would represent a much lighter tax burden (12% vs 10 years of AMT) and be within the range to qualify for ACA to supplement a high percentage of my healthcare payment until I reach 65. I had saved several hundred thousand post tax dollars over 4 years that I can judiciously supplement my income with minimal tax implications (have post tax money in CDs and short term funds that keep pace with inflation.) Importantly, our house is paid for, we carry almost 0 debt, and our property taxes are low. After 62, when I will take early social security, we’ll alter our plan and pull the levers on many more investments to increase our cash flow to an appropriate level. My wife and I both believe retirement is focused on the years between 60 and 75 when the physical and emotional you has the desire and stamina required for a full life. I’m sure there are many alternative financial plans and arguments for or against our plan, but it’s working and I’m sleeping at night.
During my career I traveled 50% of the time internationally, the last 4 years I accrued many miles and hotel rewards so was able to take an extended 5 week trip to Asia to make a final visit to many ex colleagues and friends at a minimal co$t, I used this time to help further sort and outline my next personal steps. I would highly recommend banking on a little “me” time somewhere in the middle of your first 6 months retirement.
So on this 6 month FIRE anniversary I have no intention or need to return to the work force. I’m enjoying rekindling my love of guitar, gardening, and grandchildren. I spend considerable, enjoyable time monitoring investments and figuring out the balance of spending extra time with my wife and providing the time and space we both need as individuals. Regular sleeping hours and leaving behind the ever present edge of work stress took 4+ months, but it is finally gone. The only reconsideration I would give is time of year to retire. A Midwest autumn retirement means you have 6 months of short days with much of your time spent indoors due to weather and temps, pulling the trigger late March or April probably a better idea.
Do it. Make the plan a couple years in advance, make sacrifices for early retirement preparation and just do it. I don’t think you’ll ever look back and regret leaving work stress behind; enjoy figuring out your perfect life unencumbered by career responsibilities.
During my career I traveled 50% of the time internationally, the last 4 years I accrued many miles and hotel rewards so was able to take an extended 5 week trip to Asia to make a final visit to many ex colleagues and friends at a minimal co$t, I used this time to help further sort and outline my next personal steps. I would highly recommend banking on a little “me” time somewhere in the middle of your first 6 months retirement.
So on this 6 month FIRE anniversary I have no intention or need to return to the work force. I’m enjoying rekindling my love of guitar, gardening, and grandchildren. I spend considerable, enjoyable time monitoring investments and figuring out the balance of spending extra time with my wife and providing the time and space we both need as individuals. Regular sleeping hours and leaving behind the ever present edge of work stress took 4+ months, but it is finally gone. The only reconsideration I would give is time of year to retire. A Midwest autumn retirement means you have 6 months of short days with much of your time spent indoors due to weather and temps, pulling the trigger late March or April probably a better idea.
Do it. Make the plan a couple years in advance, make sacrifices for early retirement preparation and just do it. I don’t think you’ll ever look back and regret leaving work stress behind; enjoy figuring out your perfect life unencumbered by career responsibilities.
I'm enjoying learning the fine art of putzing around. I had big plans to do lots of volunteer work, and just haven't quite gotten around to it. Not sure if I ever will. I'm loving sleeping in, reading, re-learning to play the piano, exercising more and being more spontaneous. I spend more time learning about investing and fiddling with our portfolio than I expected.
