Hello again - FIRE jobs/experience/lessons learned?

[patela6]

Hello All,

Been a very long time since my last post here.
I'd like to spend more time here (but, not a fan of the Ads ).

I'm really interested in post retirement 'fun' jobs, how people planned their extended/slow travel, etc. Including lessons learned, what they would do differently transitioning from regular work thru various phases of early retirement.
Feel free to point me to threads that already discuss this topic.

As far as my financials go, here is a quick summary:
- Low to mid 40's couple with two kids 12 & 10.
- Plan to pay off smallish mortgage this year
- Live in HCOL area, but don't plan to move anywhere else. Love our house/location.
- Investable assets prob in the $2.5M range (not incl house or 529). Roughly split 700K taxable, $1.5M tax deferred, $300K Roth accounts.
- Trying to keep our annual spend to $100K. Actively saving full allocation in 401k, and more recently Mega backdoor Roth.
- Planning to FIRE at age 50. Kids will be in College, we want our time then to enjoy life at our speed. Roughly 7/8 years away.

As the financial plan takes shape, my thoughts are more towards planning the transition, what fun jobs could be possible (Sommelier anyone ?) & how folks planned their slow travels (roughly 4-6 weeks trips sound good to me, at least right now).

Let me know if you need any other details. Happy to be back here again.

 

[braumeister]

I'd like to spend more time here (but, not a fan of the Ads ).

Just so you know, the display of ads is greatly diminished when you're logged in, so that might be why you were chased away.

 

[patela6]

Just so you know, the display of ads is greatly diminished when you're logged in, so that might be why you were chased away.

Ah ok. Thanks for letting me know!

 

[Bigdawg]

real quick on your finances: With majority in tax deferred I would start to only put up to compnay match into 401k going forward. The 1.5 mil you currently have should easily double and then some by the time you can touch it at 59.5.

Now on to the transition/fun jobs part. I went to 32 hrs/wk 25 months ago. Loving it. In 45 minutes I am heading out to umpire a HS baseball game. I officiate aprox 150 baseball games per year along with 50-60 volleyball matches. My current 32/wk will most likely go down to 20/wk come the new fiscal year(1 Oct). Fine with me. Still gives me about 70K/yr. Most likely do that schedule for a year or two. Depends on DW. At only 49 she wants to work a few more years.

Travel: We like to go for 2-3 weeks at a time now. Can't do more right now because of her job. We Go to an area (say Virgin Islands) and spend a week per at 2 or 3 locations within that general area. Example: Fly into St Thomas, ferry to St John for a week followed by a week on Tortola/Virgin Gorda then back to St Thomas for the flight home. Usually book thru AirBnB.

Financials seem to be the easy part. What to do while transitioning/retired is the bigger problem. All first world problems.

 

[patela6]

real quick on your finances: With majority in tax deferred I would start to only put up to compnay match into 401k going forward. The 1.5 mil you currently have should easily double and then some by the time you can touch it at 59.5.

Now on to the transition/fun jobs part. I went to 32 hrs/wk 25 months ago. Loving it. In 45 minutes I am heading out to umpire a HS baseball game. I officiate aprox 150 baseball games per year along with 50-60 volleyball matches. My current 32/wk will most likely go down to 20/wk come the new fiscal year(1 Oct). Fine with me. Still gives me about 70K/yr. Most likely do that schedule for a year or two. Depends on DW. At only 49 she wants to work a few more years.

Travel: We like to go for 2-3 weeks at a time now. Can't do more right now because of her job. We Go to an area (say Virgin Islands) and spend a week per at 2 or 3 locations within that general area. Example: Fly into St Thomas, ferry to St John for a week followed by a week on Tortola/Virgin Gorda then back to St Thomas for the flight home. Usually book thru AirBnB.

Financials seem to be the easy part. What to do while transitioning/retired is the bigger problem. All first world problems.

Thanks for sharing your experiences!
I'll likely plan Roth conversions during ER/low or no income years. We'll see how that works out to move more tax deferred $ out to Roth, and balance that with the expected RMD's at 72!

 

[patela6]

Fyi. This article below is very good! Sums up well key thoughts about transitioning to eulogy building, not resume building, activities later in life:
https://www.theatlantic.com/magazine/ar ... ne/590650/