Five years: a status report

[ejman]

Congratulations! So, if you could hit the rewind button ( I guess most of us ER types know what that is...) are there any significant ER related changes?

 

[powerplay]

Congratulations on your 5 year anniversary!

I'm just hitting my 4th month of retirement and loving the "I don't have to go to work tomorrow" feeling.

 

[REWahoo]

So, if you could hit the rewind button ( I guess most of us ER types know what that is...) are there any significant ER related changes?

Yes. I would have started saving and investing for retirement long before age 31 so that I could have reached FIRE earlier than age 58.

Looking back, there was nothing that would have prevented me from retiring at age 52 or even earlier other than my late start. I was in my mid 40's before I really got serious and began to understand that not only was ER possible, FI was the ultimate stress reliever.

 

[ejman]

Yes. I would have started saving and investing for retirement long before age 31 so that I could have reached FIRE earlier than age 58.

Looking back, there was nothing that would have prevented me from retiring at age 52 or even earlier other than my late start. I was in my mid 40's before I really got serious and began to understand that not only was ER possible, FI was the ultimate stress reliever.

+10 ^10 FI really is the ultimate stress reliever...

 

[Nords]

Congratulations on the first of many fives!

Yes. I would have started saving and investing for retirement long before age 31 so that I could have reached FIRE earlier than age 58.
Looking back, there was nothing that would have prevented me from retiring at age 52 or even earlier other than my late start. I was in my mid 40's before I really got serious and began to understand that not only was ER possible, FI was the ultimate stress reliever.

Well, with another 5-10 years of practice you can only get better...

 

[fisherman]

Congratulations and thank you for all the information you share it has been very helpful!

 

[Jake46]

Congratulations REWahoo! I'm hitting three years on Tuesday and have had a similar experience. I've held off on SS but will start in January. By the way, I have a 2007 Honda Pilot and love it! Keep all those critters at bay!

 

[Tigger]

Wishing you many more years of bliss. It's good to hear that those who escaped the rat race are upbeat and have no regrets.

 

[Danmar]

Congratulations. Well done. Is the 84.8% reasonably consistant with your original plan and now taking SS?

 

[REWahoo]

Congratulations. Well done. Is the 84.8% reasonably consistant with your original plan and now taking SS?

I had been debating when to take SS, thinking I might wait until FRA (66). When our portfolio dropped by more than 30% in late 2008 I decided to begin taking benefits early. Although I had a cash "bucket" to sustain our spending for 2-3 years, the strain of withdrawing 100% of our living expenses from our diminished portfolio was keeping me up at night. The first SS check came in February of 2009, just as the market was about to hit bottom - at least I hope that was the bottom.

As to the 84.8% question, when I retired I had no projected portfolio value at any future point, only the data from FIRECalc and similar sources that the historical odds of portfolio survival were strongly in my favor. Time will tell...

 

[Lsbcal]

REWahoo, sounds like you are handling ER quite nicely. I know just what you are talking about watching that portfolio go downhill in 2008 to early 2009. I keep track of our 2003 starting point retirement portfolio and we're down about 4% from the inflation adjusted 2003 value. At one time in 2007 we were up 20% from that value. So I've vowed to move towards a more conservative portfolio if we get towards that 20% situation again.

Congratulations on your 5yr ER mark.

 

[Ken11]

Congrats on 5 good years. They say that, if the first few years go well financially, the probability of long term success is much improved. Having survived 2008/9 it seems you are in good shape.

I'm three months in. So far I'm on budget >

 

[ScottFromUtah]

Congratulations.

I'm approaching my 2 year retire-a-versary (July 1). The biggest (and best) surprise is that we haven't had to dip into our retirement savings. I had planned a monthly withdrawal of almost $3000/month, but so far we have lived comfortably on SS, pension, and book royalties. It's been a combination of higher royalties than expected and lower expenses.

The next biggest surprise is that my time isn't as free and flexible as I expected. It's my own doing, because I have committed to Honey-Do's, family activities, and volunteer work, but I was hoping I'd be able to take off on a 3-hour bike ride any time the thought crossed my mind. Didn't happen. I don't want to change this "problem," because I'm comitted to certain personal and family goals, but it is a mild surprise.

Actually, all is going well.