Hello and ER progress report

[luthier john]

Just turned 60 and retired at 53 and am having a great time. It took several years to realize that the habits and values internalized during years of corporate work do not need to run my life any longer. Intellectually easy to realize, emotionally harder. To fulfill a life-long interest in woodworking, I prepared by building a workshop where I now make fine furniture and, more recently, guitars. Mostly this is for family and friends, though occasionally I take on commissions which I get through word of mouth. Profitability is of no concern; I do it for the joy of it.

I spent years studying and developing spreadsheet-based financial prediction models which, so far, have worked extremely well. One thing the models convinced me of was to pay off my mortgage rather than invest that money. The reason is that having the mortgage paid reduces the uncertainty in the range of possible future investment outcomes, even though it reduces potential possible gains.

My investments use a 60-40 diversified stock-bond asset split. The 4% withdrawel rate is modified to take into account soon-to-materialize social security benefits. I calculated this by treating social security as a annuity and giving it a cash value.

As mentioned above, the biggest problems have not been financial. They have been how to make life meaningful. To find answers has meant a lot of experimentation, thought, and work. I call this "rewiring". It has helped a lot to talk to other retirees, join interesting groups, and do a lot of intropection about what makes life rewarding.

Luthier John

[Nords]

Welcome, John.

I'm surprised at how many luthiers this board attracts...

[HelpMeRhonda]

I enjoyed reading your update report. I RE'ed 4 wks ago at 48. So far I've found alot to keep myself busy. But, I can see the need to find my own answers to many of the questions you mention.

I have HS age kids, who are very active in sports, which helps. In addition, I donate much time and $ to some very meaningful local organizations.

Thanks for your post. Its great to understand "your approach" to the required rewiring.

[Jarhead*]

Quote:

Originally Posted by luthier john As mentioned above, the biggest problems have not been financial. They have been how to make life meaningful. To find answers has meant a lot of experimentation, thought, and work. I call this "rewiring". It has helped a lot to talk to other retirees, join interesting groups, and do a lot of intropection about what makes life rewarding. Luthier John

John: Welcome to the board, and good to hear that you've made a healthy transition to the "dark side".

I retired 20 years ago, and have been off and on poster for about 3 years.

Your above quote caught my eye, and beings I have said the same thing in other posts, thought I'd comment.

I also have observed that the failed retirements have been a result of
factors other than financial.

In my case, I retired after my children were more or less raised, (at least the heavy lifting had been accomplished)

I wanted to play a lot of "tournament golf", and my wife was willing to see how that worked out until she was forced to file papers on me.

I just got back from an out of state tournament, and have a few days at home before my next event. (Locally).

I've logged in 20 years of doing what I wanted to do, and my wife hasn't served me yet, so it's been successful up to now.

In any case, your point is well taken. If you have an avocation, or any interests that you are passionate about, retiring early to persue those items retiring early makes perfectly good sense. If you're worried about not having "enough to do" in retirement, think about it long & hard.

In my case, when I think about the good old days, it is the first few years of retirement, and nothing at all to do with my "working days".

Jarhead, a Tournament Golf playing, and fly-fishing bum.

[d0ug]

Welcome to the board making the change from what you must do to what you want to do is sometimes hard but very rewarding. Enjoy your woodworking

[perinova]

welcome to the boeard John
I look forward ot know more about your guitars.
I am a player myself.

[martyb]

I wish I could call myself a guitar player, but I'm afraid I'm more of an "owner" these days. I have a decent guitar, a Martin D-35. Not a real old one, I bought it new in 1992 in Austin TX. I played every day for a good while, but when I had to relocate to Louisiana in '96, I just never really seemed to get back to playing. I bet the wife's cat would run away if I tried to play now....hey, there's an idea!

[Tom52]

Welcome aboard!

What do you build, acoustics or electrics?

I'm a bit of a player but mostly electrics. Teles are my #1 choice but I have a couple nice Strats and nice Gibsons stashed somewhere.

[wstu32]

welcome john. I hope you have as much fun and learn as much as me on this board!

[Dawg52]

Quote:

Originally Posted by Jarhead* I wanted to play a lot of "tournament golf", and my wife was willing to see how that worked out until she was forced to file papers on me. I just got back from an out of state tournament, and have a few days at home before my next event. (Locally).

Hey Jar, what kind of tournament golf you playing? Regional pro tournaments? Just curious.

[Jarhead*]

Quote:

Originally Posted by DOG52 Hey Jar, what kind of tournament golf you playing? Regional pro tournaments? Just curious.

Dog: At this time, I have to play as a pro. (Re-activated my PGA card a few years back.)

For the last couple of years, I've played in strictly pro-am tournaments.

By and large, I've really enjoyed it, but I'm really selective on how many I play in a year. (Damn expensive when you play out of the area).

Would guess that I get around l00 inquiries a year, and end up playing in
8 or 9 out of area tournaments. (I'm trying to slow it down, but keep getting pulled back in.)

Besides the cost factor, there's also the fact that my energy level isn't quite as high as a "youngster" like you.

Here's hoping you take full advantage of the extra time you've allotted to yourself by retiring early, and remember to: "Keep left arm straight, right tucked at impact, and grip it and rip it".

Take Care