Retired at 59.49 years old

[timmar]

I had semi-retired about 10 years ago to work part time in my own engineering company. After a few years of dealing with all the parts of a business I didn't enjoy (looking at you accounts receivable) I went back full time to the company I left after it had gone through a buyout and reorg.

Earlier this month I was let go with no notice. I had done a good job of investing along the way but had not really kept up with my old spreadsheets for for retiring vs continuing to work. After dusting them off and going through every retirement calculator I could find I am convinced that we can afford it and retiring is the right choice.

While looking at dates for pulling funds from 401K and IRAs (if needed) I realized that my termination date was 3 days before I turned 59.5. So I take this as retiring early. I was planning on retiring at 62 anyway.

The shock of this big change is fading away and I am ready to work through optimizing our retirement plan for my wife and 4 kids (under 18) still at home.

 

[MBAustin]

Congratulations on joining the ranks of the retired, timmar! We look forward to hearing about your adventures! And there are plenty of folks here to give you advice when you need it.

 

[MarieIG]

Congratulations on your (re) retirement. Enjoy your time with your family!

 

[street]

Surprises are not always a nice thing. I wish you a great ER and you will find your way.
Good Luck!

 

[38Chevy454]

Being involuntary laid off is never fun. 59.5 is still early retirement compared to most folks. But it sounds like you are in good shape financially so that you can now move into full retirement mode and this next phase in life. Enjoy your free time and less stress. No more BS bucket, corporate administrative hassles, and dealing with work people.

Being that you are now 59.5, you can withdraw from your pretax accounts without penalty. Makes it easier for planning and balancing accounts. Having 4 kids still under 18 is going to keep you busy. Welcome to the retirement club.

 

[Out-to-Lunch]

Congratulations! It was lucky that you had money stashed away in taxable accounts to tide you over until you turned 59.5!

 

[pacergal]

Congratulations, welcome to retirement.

 

[gcgang]

With your mindset (59.49!) you will do fine.

 

[JBTX]

My last contract ended right around 59.5. I wasn’t sure if I wanted to work again but at this point 9 months later I am leaning not to, so 59.5 may end up being my retirement too.

 

[Stormy Kromer]

I'm listening to Willie's Roadhouse on my XM radio. They just played "Take this job and Shove it". Made me think of this thread.

 

[timmar]

Congratulations! It was lucky that you had money stashed away in taxable accounts to tide you over until you turned 59.5!

We have the same sense of humor.

 

[ApeX]

Congrats! Enjoy your retirement!