Hi, everyone.
I've done a little posting and plenty of reading (lurking?) here, so I thought I should say hi and introduce myself so y'all might have an idea who I am when I post.
First let me say that I'm a refugee from the TMF FIRE board, having learned from and enjoyed the FIRE discussions there over the past few years. Unfortunately (IMHO) things have changed a great deal there. This site is a very welcome discovery for me, with all the ON topic discussion here. Thank you all for that.
I'm 50 y/o and by my calcs am at a point (for the past 12-18 months or so) where I can quit the "day job" with reasonable confidence that we'll be fine finacially, barring some total economic crisis, in which case, I guess we'll all have to paddle together. We have enough taxable and tax deferred holdings (still largely in equities as they're 10-12 years from being used) that I conservatively estimate (6-7% annual growth) should grow enough over the next 10-12 years to meet or exceed our living needs from age 62 on. Any SS would be gravy. For the next 10-12 years we can live comfortably on the earnings from our rental properties, with some left over for a margin of safety. Managing these generally takes maybe 10-15 flexible hours per week, sometimes less. So I guess I would still have a part time "job" managing investments. And I have considered working part time to keep benefits (mainly health ins) or offset the cost of same. But that wouldn't be a financial necessity.
Since getting comfortable with the fincancial calcs, I've given much thought to when/why/how to FIRE, and what to do afterward. 50 is pretty young -though it doesn't always feel that way. I have a good job which I generally enjoy and do well at, good employers, and co-workers and a good situation overall. No complaints or "need to leave". But having the knowledge that I can financially stop working has been very liberating, and I find myself being pulled ever stronger toward the freedom from full time work. There's brush to clear, acres to manicure, chores to help my spouse with, a home to maintain, roads to travel, songs to play, songs to write, photos to take, friends and family to visit, books to read (and write?).
When will I pull the trigger? Probably sooner than later, hopefully in the next few months. It might take a while to find and properly train a replacement, and I don't want to leave anyone in a lurch. They've been good to me, I will be good to them. On the other hand, if they say thanks but no thanks, you're free to go... I would be fine with that too!
Well, too much yada yada for an intro, I suppose. I'm not likely going to be a prolific poster, but be forwarned... once I get going, I can get a little long winded.
Thanks for creating a great forum and site. I welcome any questions or feedback, and look forward to chatting with yuou all more in the future.
So for now...
I've done a little posting and plenty of reading (lurking?) here, so I thought I should say hi and introduce myself so y'all might have an idea who I am when I post.
First let me say that I'm a refugee from the TMF FIRE board, having learned from and enjoyed the FIRE discussions there over the past few years. Unfortunately (IMHO) things have changed a great deal there. This site is a very welcome discovery for me, with all the ON topic discussion here. Thank you all for that.
I'm 50 y/o and by my calcs am at a point (for the past 12-18 months or so) where I can quit the "day job" with reasonable confidence that we'll be fine finacially, barring some total economic crisis, in which case, I guess we'll all have to paddle together. We have enough taxable and tax deferred holdings (still largely in equities as they're 10-12 years from being used) that I conservatively estimate (6-7% annual growth) should grow enough over the next 10-12 years to meet or exceed our living needs from age 62 on. Any SS would be gravy. For the next 10-12 years we can live comfortably on the earnings from our rental properties, with some left over for a margin of safety. Managing these generally takes maybe 10-15 flexible hours per week, sometimes less. So I guess I would still have a part time "job" managing investments. And I have considered working part time to keep benefits (mainly health ins) or offset the cost of same. But that wouldn't be a financial necessity.
Since getting comfortable with the fincancial calcs, I've given much thought to when/why/how to FIRE, and what to do afterward. 50 is pretty young -though it doesn't always feel that way. I have a good job which I generally enjoy and do well at, good employers, and co-workers and a good situation overall. No complaints or "need to leave". But having the knowledge that I can financially stop working has been very liberating, and I find myself being pulled ever stronger toward the freedom from full time work. There's brush to clear, acres to manicure, chores to help my spouse with, a home to maintain, roads to travel, songs to play, songs to write, photos to take, friends and family to visit, books to read (and write?).
When will I pull the trigger? Probably sooner than later, hopefully in the next few months. It might take a while to find and properly train a replacement, and I don't want to leave anyone in a lurch. They've been good to me, I will be good to them. On the other hand, if they say thanks but no thanks, you're free to go... I would be fine with that too!
Well, too much yada yada for an intro, I suppose. I'm not likely going to be a prolific poster, but be forwarned... once I get going, I can get a little long winded.
Thanks for creating a great forum and site. I welcome any questions or feedback, and look forward to chatting with yuou all more in the future.
So for now...