Join Early Retirement Today
Thread Tools Search this Thread Display Modes
First Post
Old 12-29-2010, 11:29 PM   #1
Confused about dryer sheets
Join Date: Dec 2010
Posts: 3
First Post

Hi all,
First off, great website with tons of great info and stories.
Wanted to share some quick notes. I will plan on retiring in 2011 before my 45th birthday. My definition of retiring is leaving the corporate structure type of employment, but certainly not rocking chair time. I'm going through so many emotions as I'm sure all do. Exciting times

I should have about 1.3 million in traditional IRA, 600K in non-retirement assets, and 80K in Roth

No wife, no dependents, and going to be living in SE Asia. Education and travel will definitely be part of plan. The rest, time will tell.

I will plan on taking SEPP distributions from my traditional IRA, life expectancy method, and plan on submitting request with my IRA custodian on @ 6Jan2012, to get full benefit of IRA balance on 31Dec2011. I'm very interested in corresponding with anyone in my similar situation who is or will take advantage of SEPP/72T from IRA

I could keep working, socking away 100K or so each year in additional savings, but it is the age old question of TIME-versus-Money? Everyone must determine what works best for them. Sometimes I wish there was a user guide to make these tough decisions, but then it would not be as exciting either.

*Side note, not having much luck in getting family,friends,co-workers to understand what I'm getting ready to begin. Hoping I can develop discussions with ambitious ER experts on this board to improve my experience.

Regards to all
livingfree is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-29-2010, 11:31 PM   #2
gone traveling
Join Date: May 2008
Posts: 3,864
Welcome to the forum.
Sounds like you are on the right track!
Westernskies is offline   Reply With Quote
Old 12-29-2010, 11:49 PM   #3
Thinks s/he gets paid by the post
Onward's Avatar
Join Date: Jul 2009
Posts: 1,934
livingfree, where in SE Asia have you chosen, and why? I've spent a good bit of time there and I'm always interested in other people's favorite spots.
And if I claim to be a wise man, it surely means that I don't know.
Onward is offline   Reply With Quote
Old 12-30-2010, 12:10 AM   #4
Recycles dryer sheets
OrcasIslandBound's Avatar
Join Date: Mar 2010
Location: Poway, CA
Posts: 441
Plan looks excellent. Might turn out that you meet some sweet Asian gal and get married, live happily ever after, have 6 kids, run low on money, form a new corporation, and become a billionaire!
OrcasIslandBound is offline   Reply With Quote
Old 12-30-2010, 03:55 AM   #5
Thinks s/he gets paid by the post
Join Date: Sep 2009
Location: Hong Kong
Posts: 1,688
Welcome to the forum.

I'm also based in Asia (HK) and will be retiring here sometime between Feb 2012 and Feb 2014. Whereabouts will you be retiring?

One issue to watch out for living out here is a mistmatch between the currency of your investments/income and the currency of your living expenses. A few people I know who have their incomes denominated in USD or GBP but are living in places like Thailand or Singapore have been hit pretty hard by the appreciation of the local currencies.
Budgeting is a skill practised by people who are bad at politics.
traineeinvestor is offline   Reply With Quote
Old 12-30-2010, 04:48 AM   #6
Confused about dryer sheets
Join Date: Dec 2010
Posts: 3
Thanks all for replies...I've been to several SEA countries over the years and all have pros and cons. Big factor is Visa procedures for each based on being 45, most get easier when over 50. I will do some travelling before I make final decision, but Thailand, Philippines, or Malaysia are all possibilities.

Yes, all my investments are dollar denominated, but major part is in IRA which I have diversified into international/domestic stocks/funds. Tried to plan for the worst (exchange rate/cost of living) and hope for the best. Initially, cost of living should be well under investment income allowing for continued re-investment, although, not overloptimistic on future of dollar exchange rates.

Will travel light and keep things simple. Plan to make the most of the experience and could always settle into local business venture if it suits.

Sbwitte…I will make sure to drop you a note if I find myself heading down the path you forecasted J
livingfree is offline   Reply With Quote
Old 12-30-2010, 08:41 AM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Purron's Avatar
Join Date: Nov 2007
Posts: 5,596
Welcome! You might want to take a look at this post:
I purr therefore I am.
Purron is offline   Reply With Quote
Old 01-02-2011, 10:06 PM   #8
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 48,244
Originally Posted by lovepril View Post
hi guys...

happy 2011, it's my first time to your community and im looking forward for more details in your site. hoping to learn a lot of new information and impart some of my ideas.
Hello lovepril.

Your profile says you are in NJ. Are you guys having a cold winter?
Numbers is hard

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 01-03-2011, 03:32 AM   #9
Thinks s/he gets paid by the post
Join Date: Nov 2005
Location: North of Montana
Posts: 2,754
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
kumquat is offline   Reply With Quote
Old 01-03-2011, 05:35 AM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2007
Posts: 5,072

If I were in your situation, 45 and single with about $2M, I would hang it up too.

Probably the best way to ease family and friends into it is to tell them you are going to take a temporary time-off to see the world while you are young and healthy. There will be many people giving you helpful advice (i.e., warnings)... but it should minimize the: "That's Crazy Talk" debate.

Overtime, if you decide to remain FIREd... they will have had time to make the mental adjustment.

I am 10 years older than you and married. I am getting my story together. But at my age, ER is a little more common.

To ease everyone into the notion that I am going to stop working, I am going to say, I will give it a try and if we have problems or if I get bored (not hardly) I will go back to work (or part-time work). It is not an untruthful cover story.... if I find that we are heading toward financial ruin, I will go back to work. (It is just a very very low probability )

My response to the gloom and doom warnings is that I have a pension and and SS and with reasonable budget we can make it. The trade-off more personal time for less earnings and a budget!
chinaco is offline   Reply With Quote
Old 04-15-2011, 01:12 AM   #11
Confused about dryer sheets
Join Date: Dec 2010
Posts: 3
Good tips Chinaco, things are still on track here and the market has been doing very well this year. Future Inflation concerns and dollar value erosion are out there, but only time will tell. Getting ready for "temporary time-off "
livingfree is offline   Reply With Quote
Old 04-15-2011, 07:26 AM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
freebird5825's Avatar
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,030
Here's a belated hello and welcome
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
freebird5825 is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

» Quick Links

All times are GMT -6. The time now is 09:24 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.