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I knew I was going to take the wrong train, so I left early
Old 03-29-2008, 01:15 PM   #1
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I knew I was going to take the wrong train, so I left early


Credits to Yogi Berra for the title.

I took a severance package from my former employer at age 50 and retired. I had always wanted to be a financial planner in my second career and the severance decision forced me to act sooner than might have been ideal. So in the last year I've taken a bunch of classes and passed the CFP exam, and am about ready to embark on the second career. While there have been some surprises, so far it still looks like I will be able to approach this business in a way that keeps it enjoyable, part-time, and still make a little money.

Of course helping people understand the financial aspects of early retirement decisions will be a specialty of my firm.

My wife is also starting a second business as a landscape designer.

In some ways, I think we may be part of what will be a model for boomer early retirement. A couple who aren't quite financially or mentally ready to stop working instead quit the wage jobs and start their own business doing work that they enjoy more.

Looking forward to learning more about how others are making early retirement work.

And would someone please tell me what FIRE is? Thanks.

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What is FIRE
Old 03-29-2008, 05:08 PM   #2
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What is FIRE

Originally Posted by Planner Steve View Post

Looking forward to learning more about how others are making early retirement work.

And would someone please tell me what FIRE is? Thanks.

Financially Independent Retired Early

-- Rita
Only got A dimple, would have preferred 2!
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Old 03-30-2008, 06:03 AM   #3
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Old 03-30-2008, 03:17 PM   #4
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I've toyed with the idea of becoming a CFP/CFA as well. The other idea I am toying with is just volunteering at the local junior college or maybe church, just doing a short series of lectures/discussions from time to time to help people sort out their own goals/dreams/finances as they relate to retirement. As a CFP/CFA, I'm guessing you (or I) may be on the hook for financial advice we give. That is why I'm considering it as a voluntary thing, with disclaimers everywhere. But still, I would like to help people begin the process of thinking about how to get out of debt and into a situation where they will be comfortable in their golden years. By the time I do this, I will be retired, and it will most likely be before 50 (planning for a couple years from now and I am 46 now), so it will be different than some 20 or 30 something financial planner who is in debt up to his ears, lives in a McMansion and drives a fancy luxury car to impress his clients.

Anyway, I think that your choice is an interesting one, which will help people, give you a sense of fulfillment, and will also bring in a little extra play money. Good luck with it!

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Old 03-31-2008, 06:07 AM   #5
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Welcome PF. There are a few financial planners here abouts but tread lightly. Many people are very skeptical of the value add of FPs in general and particularly of those who are commission based. That said, it is always good to hear from people who are actually studying investing. There are a lot of us like me who rely on others to do the heavy lifting
Every man is, or hopes to be, an Idler. -- Samuel Johnson
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