I expect you all to overwhelm me with your wisdom...
I am playing around with a date range to RE. The calculators and analysis say I can do it in 3 yrs (55), but as of today, a combination of "what the hell am I going to do at 55" and OMY syndrome have me saying just stay working, but not a day later than 60. A few details and then the question...
- Kid #4 (last one) graduates from college at (when I turn 55) so in expenses drop for DW and me
- Self-employed with good income (fluctuates depending on economy), big saver, DW has been home since Kid 1 was born, so I am used to pulling the sled.
- all my RE income will come from my investments (AA, RE)
- I could probably piddle part time, but not sure the time/reward would be worth it as to be effective in my business to generate any measurable $, you need to be pretty engaged.
- my RE income aspirations are up there north of $200K
Questions...
- Read some books, run the calculators, know to go thru "Some Important Questions to Answer Before Asking - Can I Retire?", but what process did you go thru prior to RE that helped prepare more mentally for a successful RE?
- What major changes did you make and how soon prior to RE did you make them (i.e. downsize, sell the Porche)?
- What would you have done differently (i.e. Worked longer, RE earlier)?
I realize nothing is 100% in this world, but with so many on this site with 1, 5, 10+ yrs of RE under their belt, you have to have a wealth of knowledge that guys like me can learn from?
I am playing around with a date range to RE. The calculators and analysis say I can do it in 3 yrs (55), but as of today, a combination of "what the hell am I going to do at 55" and OMY syndrome have me saying just stay working, but not a day later than 60. A few details and then the question...
- Kid #4 (last one) graduates from college at (when I turn 55) so in expenses drop for DW and me
- Self-employed with good income (fluctuates depending on economy), big saver, DW has been home since Kid 1 was born, so I am used to pulling the sled.
- all my RE income will come from my investments (AA, RE)
- I could probably piddle part time, but not sure the time/reward would be worth it as to be effective in my business to generate any measurable $, you need to be pretty engaged.
- my RE income aspirations are up there north of $200K
Questions...
- Read some books, run the calculators, know to go thru "Some Important Questions to Answer Before Asking - Can I Retire?", but what process did you go thru prior to RE that helped prepare more mentally for a successful RE?
- What major changes did you make and how soon prior to RE did you make them (i.e. downsize, sell the Porche)?
- What would you have done differently (i.e. Worked longer, RE earlier)?
I realize nothing is 100% in this world, but with so many on this site with 1, 5, 10+ yrs of RE under their belt, you have to have a wealth of knowledge that guys like me can learn from?