Announced my retirement - now it's real!

[trirod]

This week I announced my early retirement plans at work - so now it's real! For some background, I am a principal at a CPA firm. There are 3 other principals in my office, all older than me (I’m 49 - always wanted to retire at 50). It was interesting to see their reactions. The oldest one who’s also quite a good friend and who is retiring at the end of this year (he’s 62) was not that surprised and quite excited - he wants somebody to do the John Muir Trail with him so that could be a fun trip in our future. The managing principal was surprisingly supportive and a little envious. He has a lot of side hobbies and I could see him picturing himself actually having time to do some of them, instead of working 60 hours a week like he does now. The 4th guy didn't understand at all - he said he would be bored if he retired (I feel sorry for him!).

I am making it a pretty long transition. Working full time through the end of next May, then something like 75% of full time until the end of 2018. I also said I was available to consult in 2019 and beyond - but I am fine if that doesn't happen. Firecalc says I can retire now, but the extra cushion won't hurt, and it also gives some more time to bring along a couple of the younger guys that I have been mentoring to help fill my position instead of trying to hire somebody from the outside.

We close on our retirement home on Monday, but I will leave that for a separate thread since it involves a lot of thoughts on the ideal retirement location (and the compromises it involved). For now as a long time lurker and only occasional poster I just wanted to share my good news!

 

[SheitlQueen]

Congratulations on the wonderful news!

 

[imoldernu]

Congratulations... not just on your early retirement, but on such a well thought out and wise approach. Best wishes for a long and happy coming 50 years.

 

[ABQ2015]

Congratulations! Hope the next year goes by fast for you. Be sure to join the Class of 2018. It is a good way to share with others who are also on the verge of retirement.

I'm interested in your thread on choosing a retirement location/home and the compromises involved. Always a favorite topic of mine as I plan for my retirement relocation.

 

[flyingaway]

Congratulations!
I saw many posts here and there announcing early retirements with part time opportunities (or potentials), I knew that I have to work one or two more years since I do not seem to have that potential (or desire).

 

[Spanky]

Congrats. Thanks for sharing and stay the course!

 

[euro]

congratulations

 

[Onward]

Congrats and welcome to FIRE-land.

 

[kimcdougc]

Congratulations.

 

[flintnational]

Congratulations! Enjoy the John Muir hike. I have a group of friends and we have done several hikes since FIRE. Its great to be in the woods on a Monday morning, realizing "I used to be at w*rk". It adds to the "awe" factor. Somehow its different than a vacation hike.

FN

 

[Red Badger]

Congrats!

Sounds like you'll manage through those back to back seven day weekends without too much trouble.

 

[retired1]

Good for you. Congratulations & Good Luck !!

 

[MarieIG]

Congratulations! Great news.

 

[fancy free]

Congratulations!

 

[38Chevy454]

Congratulations. You have a pretty long glide path now, it will become harder to stay focused on work as you get near the end. I did the part-time work for about 1 year, it was nice way to have more time and still have the income during that period.

 

[Bamaman]

Another congratulations. Too bad your profession is not where you can completely walk away and retire. Professional partnerships are sometimes difficult to walk away from.

Our CPA firm's principals personally owned a 10 story office building. It was pretty difficult getting the partners to purchase our percentage in the building.

Like a Neil Sedaka song says, "Breaking up is hard to do."

 

[RobLJ]

This week I announced my early retirement plans at work - so now it's real!

We close on our retirement home on Monday, but I will leave that for a separate thread since it involves a lot of thoughts on the ideal retirement location (and the compromises it involved). For now as a long time lurker and only occasional poster I just wanted to share my good news!

Good for you! (I had a couple colleagues who said "but you're too young to retire," but they were happy for me.)

 

[FIREchief]

This week I announced my early retirement plans at work - so now it's real!

"Announced." Yep, that's how people I knew back at Megacorp did it. They "announced" their retirements and then waited for others to react. I found the whole thing nauseating. So much so, that when I eventually decided to walk out I just told my boss "I'm retiring. I'm not making any formal "announcement" and will leave it up to you to tell anybody who you think needs to know." Nice peaceful exit, without any phony "best wishes" from anybody. To each their own...