JoeWras
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Sep 18, 2012
- Messages
- 11,731
I can't help myself hold back anymore, so I decided to open a "Class of 2018" thread. Hope you all don't mind.
A 5 year planning window is not too much.
In early 2018, I'm 55. This is really my last ER date. I hope to graduate early, if Megacorp offers a sweet incentive in the intervening years. They've offered them from time to time, so I wouldn't be surprised if it happens.
Here's the thought. We're pretty much FI now if we live life modestly. DW has a job with a very sweet medical benefit at 55 too (and we are same age), so she'd ER with me, perhaps a few months after. She really wants to hold on, and it is probably wise as I could also get on the medical plan. She's also having a hard time seeing beyond work. I'm not, as I have plenty to do, right now currently with elder care for my father, and also simple "timer wasters" beyond that. I'd prefer to ER together, so that's the initial plan
But we're also wisely planning as if we wouldn't get that sweet medical plan. I look at ER if it happened today and we both had to pay medical. That's our biggest expense, besides taxes, in ER. We could do it, but it would really add expense. So, hanging on a bit longer would just make the retirement much more comfortable.
Another factor keeping us going is charity. We love to give generously, and with a reduced income, we'd still give, but the ultimate numbers won't be as big. We're not working for the charity, but it is nice to be able to contribute.
Other factors in waiting are friends and 401k usage. Many friends will join us or be near joining us in ER in 5 years. Our 401ks both become usable at 55. However, we could get around that if need be through various tax code back doors. We also think we could live just fine on non-deferred savings until 59 1/2, so this isn't an overwhelming reason to stay working. Neither of us have pensions so that's out of the mix of concern or happiness.
W*rk? It's OK. I enjoy it now much more knowing I could literally just walk out the door if I need to. I don't sweat it like I did 5 years ago, nearly having a breakdown one day. I've peaked, and I'm comfortable with it. Talked with the boss and basically told him such, and he understands. Told him time was more important than money, and he understands: heck, he's really in the same boat. He's slowed down too. We're the same age. The boss can give Megacorp's cheap and tiny raise and promotion budgets to the youngsters. I'm OK with that! I don't really need to step on them anymore. And that thinking is an adjustment. It was ingrained in me to always "do better than everyone else." I don't have to, and I'm OK with that.
So, the countdown begins. I'll see you around the boards. If for some reason I get an early graduation date, see you in another topic.
A 5 year planning window is not too much.
In early 2018, I'm 55. This is really my last ER date. I hope to graduate early, if Megacorp offers a sweet incentive in the intervening years. They've offered them from time to time, so I wouldn't be surprised if it happens.
Here's the thought. We're pretty much FI now if we live life modestly. DW has a job with a very sweet medical benefit at 55 too (and we are same age), so she'd ER with me, perhaps a few months after. She really wants to hold on, and it is probably wise as I could also get on the medical plan. She's also having a hard time seeing beyond work. I'm not, as I have plenty to do, right now currently with elder care for my father, and also simple "timer wasters" beyond that. I'd prefer to ER together, so that's the initial plan
But we're also wisely planning as if we wouldn't get that sweet medical plan. I look at ER if it happened today and we both had to pay medical. That's our biggest expense, besides taxes, in ER. We could do it, but it would really add expense. So, hanging on a bit longer would just make the retirement much more comfortable.
Another factor keeping us going is charity. We love to give generously, and with a reduced income, we'd still give, but the ultimate numbers won't be as big. We're not working for the charity, but it is nice to be able to contribute.
Other factors in waiting are friends and 401k usage. Many friends will join us or be near joining us in ER in 5 years. Our 401ks both become usable at 55. However, we could get around that if need be through various tax code back doors. We also think we could live just fine on non-deferred savings until 59 1/2, so this isn't an overwhelming reason to stay working. Neither of us have pensions so that's out of the mix of concern or happiness.
W*rk? It's OK. I enjoy it now much more knowing I could literally just walk out the door if I need to. I don't sweat it like I did 5 years ago, nearly having a breakdown one day. I've peaked, and I'm comfortable with it. Talked with the boss and basically told him such, and he understands. Told him time was more important than money, and he understands: heck, he's really in the same boat. He's slowed down too. We're the same age. The boss can give Megacorp's cheap and tiny raise and promotion budgets to the youngsters. I'm OK with that! I don't really need to step on them anymore. And that thinking is an adjustment. It was ingrained in me to always "do better than everyone else." I don't have to, and I'm OK with that.
So, the countdown begins. I'll see you around the boards. If for some reason I get an early graduation date, see you in another topic.
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