Not real early: Retire at 61

[joeea]

By the end of the meeting, we were talking about coming back part time as a consultant reporting directly to him. So who knows what the future holds.

It's great to have an open mind.

When I retired, I left open the possibility of "helping out" if needed.

A few months later I got a call to ask if I'd help out for a while. I agreed to consult for 2 days per week, 8 hours per day, but no more. It turned out great! I was able to concentrate solely on the "fun" aspects of my former role, with none of the foolish administrivia or management politics I formerly had to endure and no nights and weekends.

I did that for a year, until my former team got back on its feet.

Thoroughly enjoyed it and would do it again if needed.

 

[DisneyDreamer]

I wanted to give everyone an update. The past two months have been a cesspool at work. I have come home angry at least twice a week. So after running the numbers through various scenarios, i am taking the advice I continue to read on here. I turned in my notice today. My last day in the office will be April 19th. I am taking a week off before then. That means 24 more days in the office!!!!

That's great! Congratulations! It must feel wonderful!

 

[lakerunner]

It's great to have an open mind.

When I retired, I left open the possibility of "helping out" if needed.

A few months later I got a call to ask if I'd help out for a while. I agreed to consult for 2 days per week, 8 hours per day, but no more. It turned out great! I was able to concentrate solely on the "fun" aspects of my former role, with none of the foolish administrivia or management politics I formerly had to endure and no nights and weekends.

I did that for a year, until my former team got back on its feet.

Thoroughly enjoyed it and would do it again if needed.

So, 48 hours after turning in my resignation, I get an email from one of the senior officers. He has an opportunity he would like to discuss. They have a new project that fits my skill set perfectly. First thought is RUN. But it could be interesting:

- I would still retire
- I would come back as a consultant at 20 hours per week. (We don't use their healthcare anyway.)
- I work from home 90% and only come in if needed.
- It would be with a different team that I know and respect.
- It looks like it would be a 2 year assignment. That brings me to 62.

I am going out to dinner with the group tonight. Assuming the $$ work, I may "down shift" instead of fully retire.

 

[street]

When it isn't fun anymore, it is time for a change. I wish you well and happiness in retirement.

 

[Bigdawg]

So, 48 hours after turning in my resignation, I get an email from one of the senior officers. He has an opportunity he would like to discuss. They have a new project that fits my skill set perfectly. First thought is RUN. But it could be interesting:

- I would still retire
- I would come back as a consultant at 20 hours per week. (We don't use their healthcare anyway.)
- I work from home 90% and only come in if needed.
- It would be with a different team that I know and respect.
- It looks like it would be a 2 year assignment. That brings me to 62.

I am going out to dinner with the group tonight. Assuming the $$ work, I may "down shift" instead of fully retire.

Good luck Lakerunner. Remember, you can also say "NO".

 

[joeea]

So, 48 hours after turning in my resignation, I get an email from one of the senior officers. He has an opportunity he would like to discuss. They have a new project that fits my skill set perfectly. First thought is RUN. But it could be interesting:

- I would still retire
- I would come back as a consultant at 20 hours per week. (We don't use their healthcare anyway.)
- I work from home 90% and only come in if needed.
- It would be with a different team that I know and respect.
- It looks like it would be a 2 year assignment. That brings me to 62.

I am going out to dinner with the group tonight. Assuming the $$ work, I may "down shift" instead of fully retire.

Sounds like it could be fun!

Particularly if you aren't formally committing to the entire 2 years, you have nothing to lose trying it out.

Good luck!

 

[SnowBound]

I actually do think I could retire now. But I told my wife I would work OMY. Happy wife, happy life.

Good luck to you and DW on the change of circumstances!

 

[Teacher Terry]

2 years after I retired they needed me for 6 months and it was fun. I went in once a week to see clients and then worked from home.

 

[lakerunner]

So, 48 hours after turning in my resignation, I get an email from one of the senior officers. He has an opportunity he would like to discuss. They have a new project that fits my skill set perfectly. First thought is RUN. But it could be interesting:

- I would still retire
- I would come back as a consultant at 20 hours per week. (We don't use their healthcare anyway.)
- I work from home 90% and only come in if needed.
- It would be with a different team that I know and respect.
- It looks like it would be a 2 year assignment. That brings me to 62.

I am going out to dinner with the group tonight. Assuming the $$ work, I may "down shift" instead of fully retire.

I thought I would give a quick update: My official retirement date is two weeks from today. I have told everyone I felt I should tell and done all the paperwork. All my personal stuff has been taken home.

I have committed to a consulting position working an average of 16 hours per week. (There is a limited budget, so I can't go over 16 hours times 52 weeks in the contract year.) I will not have an office, so I am not expected to come in. In fact, out of a team of nine, only two of us are in the same city. I can work from anywhere. In fact, I am considering spending the summer with my son.

I gave 6 weeks notice to help them find someone before I left. As others have said. Nothing is going to happen until I am out the door. But thats not my problem anymore.

 

[SumDay]

thought I would give a quick update: My official retirement date is two weeks from today. I have told everyone I felt I should tell and done all the paperwork. All my personal stuff has been taken home.

Whoo hooo! Congratulations! Sounds like a nice gig to transition you into full retirement. Telecommuting is a wonderful thing.

 

[Rianne]

I
I have committed to a consulting position working an average of 16 hours per week. (There is a limited budget, so I can't go over 16 hours times 52 weeks in the contract year.) I will not have an office, so I am not expected to come in. In fact, out of a team of nine, only two of us are in the same city. I can work from anywhere. In fact, I am considering spending the summer with my son.

DH did a similar thing. He has an LLC, works from home and has all the freedom he needs. He enjoys staying in touch with the business and academic world of food science. Plays an intermediary role between the university and companies. Brings them together for projects. He can work from anywhere, but we get the tax write-offs for the home office. Time takes between 10-25 hours/week depending on the projects.

 

[Bir48die]

Congrats. Though your wife wanted you to work one more year we don't always have to listen. Way to tune that one out.

 

[joeea]

I thought I would give a quick update: My official retirement date is two weeks from today. I have told everyone I felt I should tell and done all the paperwork. All my personal stuff has been taken home.

I have committed to a consulting position working an average of 16 hours per week. (There is a limited budget, so I can't go over 16 hours times 52 weeks in the contract year.) I will not have an office, so I am not expected to come in. In fact, out of a team of nine, only two of us are in the same city. I can work from anywhere. In fact, I am considering spending the summer with my son.

I gave 6 weeks notice to help them find someone before I left. As others have said. Nothing is going to happen until I am out the door. But thats not my problem anymore.

Congratulations. Sounds terrific.

 

[Sunset]

I thought I would give a quick update: My official retirement date is two weeks from today. I have told everyone I felt I should tell and done all the paperwork. All my personal stuff has been taken home.

I have committed to a consulting position working an average of 16 hours per week. (There is a limited budget, so I can't go over 16 hours times 52 weeks in the contract year.) I will not have an office, so I am not expected to come in. In fact, out of a team of nine, only two of us are in the same city. I can work from anywhere. In fact, I am considering spending the summer with my son.

I gave 6 weeks notice to help them find someone before I left. As others have said. Nothing is going to happen until I am out the door. But thats not my problem anymore.

Sounds wonderful.

Remember to keep your receipts for your deductions (home office, pens, computer, internet, postage, etc, etc)
You might want to set up a solo 401K now, so you can stick any excess money into a ROTH 401K
https://investor.vanguard.com/small-business-retirement-plans/individual-solo-401k

Advantage of it, is you can contribute to it, and to your normal outside roth at the same time (double contributions).