Hi all, I've benefited so much from this forum in the past, and wanted to contribute an update as I personally have enjoyed the more longitudinal stories on this site.
When I first came here, basically in crisis, in 2014, there weren't a ton of people in situations like mine, so hopefully I can help someone out. And of course, I'm still learning, so as always welcome any advice or camaraderie!
A few years have passed since my initial contemplation of ER in 2014 (see link below), but we have made some major life changes. The big ones have been: cashing out of an extreme high COL area and moving to a more moderate COL area; a little bit of budgeting; and announcing my retirement this year. I'm mid-40's and had a high profile professional services job for 18 yrs. Here's the old thread for context:
http://www.early-retirement.org/forums/f26/very-high-income-but-how-long-to-keep-this-up-75023.html
Our income grew as expected and we will retire with ~$15m in liquid assets, invested 80% in 70%/30% VTI/VXUS and 20% in a hedge fund that has done well for us thru cycle for the last 15+ yrs. Own our home, and no debt. We live on about $250k (300-400 if I add in health expenses, we luxuriate more, etc), so am not concerned about whether it is sustainable. [We'd be pretty happy living in a shack by the beach, which makes me wonder why it took this look to see the light.] $500k of the liquid is going into a donor advised fund this year, to start, and we are heavy in equities so that we can donate the upside over time.
The biggest questions now are about:
(1) How to raise our kids with the right values (we are trying to be present but not too much so, and are largely hiding our wealth and teaching them to work for it). But teenagers are hard, especially if you pay attention!
(2) What will be fulfilling for me long term. I am massively enjoying sipping a morning cup of coffee, seeing the kids off to school, working on projects I dream up, exercising, pursuing hobbies with vigor, actually getting to know people around me, sleeping adequately, etc. But am starting to think about what will come next. I am naturally a hard-charging person, so may need a more serious outlet for that at some point. Frankly it's hard to imagine any kind of intense "job" work will ever be a part of it, there's too much other fun stuff to do, but never say never... I am delighted that my frequent flier status is falling by the day, and my ties are waiting in a pile for an eventual bonfire.
(3) I'm hoping my wife will want to slow down at her career at some point soon so we can explore the world, be spontaneous, etc. This is probably the biggest area I'm thinking about, as she has put her professional life on hold for 20 yrs while I did my career, so now it truly is her turn... but at the same time, I'm ready to have fun and we have the resources to do it! I'm trying to be patient.
My wife asked me the other day how I'm feeling in the midst of my retirement announcement and transition process, and I said I feel like I'm 12 years old. The world is so filled with possibilities and I am not gunning... I did college and grad school and career and now I can get back to what truly stimulates me. This post resonated completely with how I've been feeling:
https://ournextlife.com/2018/01/17/high-school-rule/
Anyhow, I recognize I'm incredibly fortunate to be in this position, and am so thankful to this group for advice that set me on the right course. Thank you all, and as always, advice welcome.
When I first came here, basically in crisis, in 2014, there weren't a ton of people in situations like mine, so hopefully I can help someone out. And of course, I'm still learning, so as always welcome any advice or camaraderie!
A few years have passed since my initial contemplation of ER in 2014 (see link below), but we have made some major life changes. The big ones have been: cashing out of an extreme high COL area and moving to a more moderate COL area; a little bit of budgeting; and announcing my retirement this year. I'm mid-40's and had a high profile professional services job for 18 yrs. Here's the old thread for context:
http://www.early-retirement.org/forums/f26/very-high-income-but-how-long-to-keep-this-up-75023.html
Our income grew as expected and we will retire with ~$15m in liquid assets, invested 80% in 70%/30% VTI/VXUS and 20% in a hedge fund that has done well for us thru cycle for the last 15+ yrs. Own our home, and no debt. We live on about $250k (300-400 if I add in health expenses, we luxuriate more, etc), so am not concerned about whether it is sustainable. [We'd be pretty happy living in a shack by the beach, which makes me wonder why it took this look to see the light.] $500k of the liquid is going into a donor advised fund this year, to start, and we are heavy in equities so that we can donate the upside over time.
The biggest questions now are about:
(1) How to raise our kids with the right values (we are trying to be present but not too much so, and are largely hiding our wealth and teaching them to work for it). But teenagers are hard, especially if you pay attention!
(2) What will be fulfilling for me long term. I am massively enjoying sipping a morning cup of coffee, seeing the kids off to school, working on projects I dream up, exercising, pursuing hobbies with vigor, actually getting to know people around me, sleeping adequately, etc. But am starting to think about what will come next. I am naturally a hard-charging person, so may need a more serious outlet for that at some point. Frankly it's hard to imagine any kind of intense "job" work will ever be a part of it, there's too much other fun stuff to do, but never say never... I am delighted that my frequent flier status is falling by the day, and my ties are waiting in a pile for an eventual bonfire.
(3) I'm hoping my wife will want to slow down at her career at some point soon so we can explore the world, be spontaneous, etc. This is probably the biggest area I'm thinking about, as she has put her professional life on hold for 20 yrs while I did my career, so now it truly is her turn... but at the same time, I'm ready to have fun and we have the resources to do it! I'm trying to be patient.
My wife asked me the other day how I'm feeling in the midst of my retirement announcement and transition process, and I said I feel like I'm 12 years old. The world is so filled with possibilities and I am not gunning... I did college and grad school and career and now I can get back to what truly stimulates me. This post resonated completely with how I've been feeling:
https://ournextlife.com/2018/01/17/high-school-rule/
Anyhow, I recognize I'm incredibly fortunate to be in this position, and am so thankful to this group for advice that set me on the right course. Thank you all, and as always, advice welcome.