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Let's Call it Semi-retiring...
Old 07-22-2014, 06:29 AM   #1
Confused about dryer sheets
Join Date: Jul 2014
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Let's Call it Semi-retiring...

Greetings, all. Glad to have found you. Here's my story.

I'm 52 and looking forward to taking a 32-year union tradesman's pension within the next few months. This won't carry me entirely, but I'm hoping that it will provide a way for me to start my own business and call a few of my own shots for a change. Despite my handle, "Takethisjoband," I really enjoy my work and the people I work for, but thirty plus years of waking early, commuting, and feeling as though I have too little free time is enough. I'm more than ready to do this.
I just wanted to say hello - can't wait to see what nuggets of wisdom are here.
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Old 07-22-2014, 07:06 AM   #2
Recycles dryer sheets
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Welcome TakeTJA! I took a similar path between 47 and today (56). I think you'll enjoy still being busy (but not as busy) and find calling "a few of my own shots" very satisfying. Congrats!
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Old 07-22-2014, 07:44 AM   #3
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If you are a solid tradesman, there is a lot of work out there for you. Once you get started, you will not be able to take a break. And you will make more money too.
FIRE no later than 7/5/2016 at 56 (done), securing '16 401K match (done), getting '15 401K match (done), LTI Bonus (done), Perf bonus (done), maxing out 401K (done), picking up 1,000 hours to get another year of pension (done), July 1st benefits (vacation day, healthcare) (done), July 4th holiday. 0 days left. (done) OFFICIALLY RETIRED 7/5/2016!!
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Old 07-22-2014, 07:53 AM   #4
Confused about dryer sheets
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I called it a day 5 years ago at age 50 from a big InformationTechnology firm and started my own company. Now i consult 2 days a week, and have the rest of the week to do my own things.. if you don't get caught up in the mode of making/saving more money, control how much time you work, .. .... its a wonderful life !
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Old 07-22-2014, 02:06 PM   #5
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Having your own business may be more time consuming, but can also be controlled if you are aware of this. Have fun on the new adventure, keep telling yourself it is semi-retirement, not second career. Welcome to the forum.
The advice we're giving you is invaluable, that's why it's free
Experience is a good teacher, but the tuition can get expensive real fast

Semi-Retired 7/1/16: working part-time (60%) for now [4/24/17 changed to 80%]
Retired Aug 2, 2017; age 53
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Old 07-22-2014, 02:21 PM   #6
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We do something similar and enjoy it. Good luck on your plans.
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Old 07-22-2014, 02:32 PM   #7
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"Retirement" means different things to different people. Some love doing much of nothing a lot of the time. Others want to stay at least somewhat busy. Some are retiring from a job or field (my case), others are retiring to doing something new (also my case).

Personally, I see retirement as starting an exciting new chapter in my life. From most posts, almost everyone seems to find their own balance after a while. Trust that you will discover what's exactly right for you.
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Old 07-22-2014, 04:11 PM   #8
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Welcome and congratulations! Lots of friendly helpful folks here so if you have questions, ask away - someone has probably been there, done that.
"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 07-23-2014, 08:35 PM   #9
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I started a business at 46 after I was let go at Megacorp. It's been 4 years now, and I think it was the best thing that ever happened to me. I loved creating something out of nothing and almost make as much as I did at Megacorp. I would never go back....

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Old 07-24-2014, 01:53 PM   #10
Confused about dryer sheets
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Friends, thank you for the input. Great response!
We've decided to go P/S. Here's why. P/S is actually just a life policy usually costing 10% of full benefit as premium. In our case that's $300 mo. Seems steep for the $1350 a month she'd get. A term life plan giving her that much for 20 years ($325 in benefit) costs just $124 mo. BUT...
That's just for 20 years. The P/S is for the rest of her life. And starting at age 52, when it's likely she'll live to 81 (the avg), she'll likely need 30 years of coverage. The average age that a guy dies is 76. We don't want to mess with finding something to fill the gap for that last 5-10 years. Only insurance can really do that, and buying it then is way too pricey.
You say, just buy term for 30 years instead. Now we're getting close enough to the same premium as P/S that we might as well let the pension hassle with it, take the reduced money and run. Any further comments? Thanks again in advance.
I enjoy waking up and not having to go to work. So I do it three or four times a day.
-Gene Perret
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