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Bittersweet retirement January 2014
Old 08-25-2016, 08:39 AM   #1
Confused about dryer sheets
Join Date: Jan 2014
Location: Pittsburgh
Posts: 8
Bittersweet retirement January 2014

Hello everyone. I have read and lurked here since before 2000. Apologies for not introducing myself or contributing sooner.

I was laid off the end of January 2014, age 58. I was prepared to throttle back and or retire from the world of computer field service. It was a second career for me and had it's ups and downs but overall interesting and rewarding. I worked, saved and planned my entire working life hoping to be able to retire at 55 if I desired. This same month my father passes away. My mother had preceded him by 2 years. Dad and I were close and it has been difficult. Being the executor and having difficult siblings made things more unpleasant. The dust has almost settled.

I had sufficient assets mostly dividend stocks throwing off more than I needed. My fathers assets doubled my assets and income. My needs are simple and I have a DW who is on board with this lifestyle. I inherited a house in Florida that we continue to visit when it's cold up north.

I have been frugal and lucky. at age 21 I was gifted $120,000 in mostly stock then at age 24 or so I was given a trust worth $330,000. (Don't hate me.) The trust eventually came to me free and clear and I can say only here that I still have the first $100,000 ever given to me. I am the exception as most "kids" run through cash and assets till gone and become entitled peckerheads. My only concern now is to educate my children so they have the same ethic. One is good, one not so sure. Dad gave me sound investment advice, "Don't spend the principle." I'm probably considered a one percenter.

Right now I'm trying to live the Stealth Wealth lifestyle while still living it up a bit. My newest cars are 2008 and both will be replaced in 3-5 years depending on maintenance. My primary residence is worth $270K, Florida $200K and of course I'm debt free and have been since 2000. We visited Grand Cayman last year and plan on more trips to more warm in the winter places.

It's difficult to compare notes except here as I am quite the exception in my circle of friends. I hide it well.

Thanks for letting me hang here. Good luck and continued success to you all. We are all here for just a short while...


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Old 08-25-2016, 08:59 AM   #2
Recycles dryer sheets
Join Date: Sep 2012
Posts: 426
Wow! Close to half a million windfall by age 25 and you did not blow it. You're gifted and no wonder why your parents chose you as executor! I'm with you on teaching kids the same value. Enjoy your life to the fullest and welcome to ER forum.

Retired at age 52 on 12/1/2016
AA:60/40 WR:3% until 2022 then 4% is the plan
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Old 08-25-2016, 09:26 AM   #3
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I'm sorry the end of your career wasn't according to your plans. Even knowing that they may have done you a favor and saved you from OMY syndrome, it's still nice to be able to end it on your own terms. However, it sounds like you're enjoying your freedom and using it wisely to enjoy travel to your Florida home when you want, and you're now starting to explore different locations as well. You're lifestyle, good fortune and hard work have given you a lot of options now!

Thanks for introducing yourself and I look forward to hearing more about your explorations and how you're enjoying your time.
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Old 08-25-2016, 09:58 AM   #4
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Definitely give yourself credit for not squandering your inheritances; I saw my Ex do it. How does $6k for a sound system in 1985 strike you? The only amount that got preserved was the money we put down on a house, which yielded a nice chunk for me to put into another one when we divorced. He spent his.

Anyway, it IS possible to raise thrifty kids in a wealthy household; I taught mine early that we could have (nearly) anything we wanted but not EVERYTHING we wanted. We made trade-offs sometimes. I'm happy to say DS is very good with money and married a young woman with the same values.

I also retired in 2014, 4 years early. Not laid off, but toxic politics and I just decided I didn't want to work for a living anymore. Very freeing to have the resources to do that.
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Old 08-25-2016, 10:21 AM   #5
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Years ago I met a lawyer whose dad and mom died in a car wreck at his age 18. The estate was divided into thirds: one third immediately, one third when he finished college, and the final third at age 30. He blew through the first 2 thirds. By age thirty, he had had years to ponder his stupidity, and today can account for every penny of the last third.

But, boy, you sure bested that guy!
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Old 08-25-2016, 11:03 AM   #6
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Welcome to club retired!

Have fun -
Retired at 59 in 2014. Should have done it sooner but I worried too much.
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Old 08-25-2016, 11:12 AM   #7
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I doubt anyone here would hate you for your good fortune, especially given the way you handled it. But maybe a bit of jealousy.

Welcome, and thanks for staying frugal!
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Old 08-25-2016, 12:44 PM   #8
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Welcome and thanks for the introduction. It sounds like the past couple of years have been tough for you, so hopefully there are some sunnier days ahead for you. I'm sure that your experiences will be helpful to others here so I hope we'll see more of your posts.
"One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute." William Feather
ER'd Oct. 2010 at 53. Life is good.
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Old 08-25-2016, 04:39 PM   #9
Confused about dryer sheets
Join Date: Jan 2014
Location: Pittsburgh
Posts: 8
Thank you everyone. The layoff into ER was not too painful. I was hired for a new contract to last 5 years. There was internal trouble and it ended a year early. Unemployment payments were sweet. No hard feelings there, nice company.

athena53, 6k for a sound system in 1985? WOW... Good to hear you did well.

brucethebroker, good to hear your lawyer friend woke up and is on track. I have an estranged brother that did not. I predict he will be homeless in 5 years. Drugs, alcohol and mental illness.

It continues to be my experience that the less I pay for something the more fun I have with it. I keep track of the fun per dollar mix.

I have purchased 3 new cars in my life. In 1990 I couldn't afford it but i bought a brand new Saab 900 turbo. I put 90K miles on it, kept it out of the winter salt. I still have it and drive it sparingly. Yes I'm a car guy.
I keep telling my broker I'm buying a Ferrari. He knows I won't. The cost of insurance and maintenance makes me shudder. Besides I'd need a new wardrobe, some gold chains, hair plugs and a mistress to go with it.
Thanks again folks. I'll try to pop up in other areas now and then.

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