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Pulled the plug yesterday!
08-01-2013, 06:45 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Jul 2013
Location: Texas
Posts: 1,065
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Pulled the plug yesterday!
Hi everyone... wife is retiring at the end of August from Education at 58, I just turned 62 and notified my company yesterday that I'm outta here 12/31.
Very appreciative of this forum. Finding Firecalc really helped me make the decision. It's one of the best retirement tools I found. Several visits with accountant and FP and couldn't come up with any compelling reason to stay on till 65.
DW and I are planning to be comfortable with 101k income from pensions, SS and a SWP of 4%. Expenses at the high end 60k. No debt. Taxes about 11k, so we'll have about 3k a month discretionary. Her health insurance covers us both. No kids or extended family, so we can adjust SWP and expenses as needed.
Scary as hell about missing the 'action' and the people at work, but I plan to establish a routine quickly. Love my job, but I oversee a company with 70 employees and I won't miss the drama and the misbehavior in the workplace and all the associated people problems.
Cheers... Bob
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08-01-2013, 06:47 AM
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#2
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gone traveling
Join Date: May 2012
Location: Fairfax, VA
Posts: 209
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You sound elated. Congrats and welcome to the forums.
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08-01-2013, 07:43 AM
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#3
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Thinks s/he gets paid by the post
Join Date: May 2008
Location: Cooksburg,PA
Posts: 1,873
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Congrats!
I think the word is giddy!
__________________
Free to canoe
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08-01-2013, 12:21 PM
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#4
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Recycles dryer sheets
Join Date: Mar 2007
Posts: 231
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Congratulations ! Moving to the new routine will be easier than you think !
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08-01-2013, 01:54 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
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Well done.
__________________
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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08-01-2013, 02:43 PM
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#6
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Recycles dryer sheets
Join Date: Jan 2008
Posts: 126
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Congratulations, Bob. I'm in Bosque County counting down.
Alan
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08-01-2013, 02:49 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Jul 2013
Location: Texas
Posts: 1,065
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 Quote:
Originally Posted by Gazingus
Congratulations, Bob. I'm in Bosque County counting down.
Alan
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hi Alan.. small world! when's your due date?
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08-01-2013, 07:02 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Feb 2012
Location: Tampa Bay Area
Posts: 1,866
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Congratulations ! I wish you and your wife a wonderful new life !
__________________
"For the time being no discipline brings joy, but seems grievous and painful; but afterwards it yields a peaceable fruit of righteousness to those who have been trained by it." ~
Hebrews 12:11
ER'd in June 2015 at age 52. Initial WR 3%. 50/40/10 (Equity/Bond/Short Term) AA.
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08-01-2013, 07:24 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Feb 2010
Location: Cavalier
Posts: 2,317
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Congrats!
__________________
"Don't take life so serious, son. It ain't nohow permanent." Pogo Possum (Walt Kelly)
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08-01-2013, 07:48 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Jul 2013
Location: Texas
Posts: 1,065
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thanks for all the kind words... lots still to do to get ready, including IRA conversions, applying for the SS, pension elections etc....... counting down
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08-02-2013, 11:59 AM
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#11
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Recycles dryer sheets
Join Date: Jan 2008
Posts: 126
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I'm going to 55 1/2 due to medical retiree benefits, so that's Jan. 1 2017. I keep telling myself how fast this time will go by.
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08-02-2013, 12:15 PM
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#12
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Recycles dryer sheets
Join Date: May 2013
Posts: 124
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Congratulations! Now, you can spend all your day tailgating. Such a wonderful feeling knowing that all the sacrifices and preparations (intentionally or otherwise) along the way culminated in you and DW at the cusp of FIRE!
__________________
RE'd August 2013 at age 44...loving life! DW RE'd September 2015...both loving the FIRE'd life in paradise.
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08-02-2013, 02:24 PM
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#13
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Recycles dryer sheets
Join Date: Feb 2013
Location: Morton
Posts: 56
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Congratulations! You have more than enough financial resources to enjoy retirement
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08-02-2013, 02:52 PM
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#14
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Thinks s/he gets paid by the post
Join Date: Mar 2009
Posts: 2,985
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Great job ! Please keep us posted.
__________________
Took SS at 62 and hope I live long enough to regret the decision.
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08-02-2013, 04:58 PM
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#15
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Recycles dryer sheets
Join Date: Oct 2008
Posts: 295
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VG! We did similar at age 55, waited 3 more yrs till we only needed 3% from our Savings.. just to be sure..
because once we sold our 2 little Businesses, there would be no turning back..
Maybe you can Join in lobbying so we can have at least our Taxable Investment $ be Earned Income? It's a Part Time Job for me, so I Earn it! I want to Keep Hiding it from future taxes in my Roth..and IRA like Mitt Romney does!
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08-03-2013, 08:18 AM
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#16
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Thinks s/he gets paid by the post
Join Date: Mar 2013
Location: Southern California
Posts: 3,999
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Congratulations! You gave them a lot of notice. I hope they are appreciative of that. And more importantly, I hope they don't use the next few months to talk you out of it. 
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08-04-2013, 07:34 AM
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#17
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gone traveling
Join Date: Sep 2003
Location: DFW
Posts: 7,586
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You and your DW are slightly younger than DW and I, but your income level and expenses are pretty close to where ours are, with our retirement to be covered by IRA/SS/small pension, with a 2.5% SWR. I am not planning to claim SS before FRA or possibly beyond. Good luck, life is wonderful.
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08-05-2013, 06:45 AM
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#18
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Thinks s/he gets paid by the post
Join Date: Nov 2008
Posts: 3,406
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Congratulations! Everything in your post sounds exactly like our experience/situation except the wife and I both retired from academia.
I do miss the daily social connection with my friends in the department. I was on the selection committee that hired them so I was sure they would all be compatable and professional. I have the opportunity to drop in and see them on occasion when I take classes for fun. That tends to make the adjustment a little easier as well as pursue interests I didn't have time for in the past.
The administration not so much. I'm glad not to be annoyed anymore by their political shenanigans. That puts a smile on my face. 
You should have lots to do with your available time now that you have taken care of financial concerns.
Today I get to take my grandson to see a movie before he has to start back to school. Later I'll grill some steaks, tend to the veggie garden, have a beer and watch the watermelons grow before I make plans for our next travel.
You and your wife are going to have some fun!
Cheers!
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08-05-2013, 07:41 AM
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#19
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Thinks s/he gets paid by the post
Join Date: Jul 2013
Location: Texas
Posts: 1,065
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Quote:
Originally Posted by Badger
Congratulations! Everything in your post sounds exactly like our experience/situation except the wife and I both retired from academia.
I do miss the daily social connection with my friends in the department. I was on the selection committee that hired them so I was sure they would all be compatable and professional. I have the opportunity to drop in and see them on occasion when I take classes for fun. That tends to make the adjustment a little easier as well as pursue interests I didn't have time for in the past.
The administration not so much. I'm glad not to be annoyed anymore by their political shenanigans. That puts a smile on my face.
You should have lots to do with your available time now that you have taken care of financial concerns.
Today I get to take my grandson to see a movie before he has to start back to school. Later I'll grill some steaks, tend to the veggie garden, have a beer and watch the watermelons grow before I make plans for our next travel.
You and your wife are going to have some fun!
Cheers! |
wow.. sounds like a fun day! Especially with the grandson. We don't have children, so we lack that opportunity.. wish the local library had a lending program for kids .. check em out for a day or two and then turn them back in ... I'll probably just volunteer...
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08-05-2013, 01:56 PM
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#20
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Thinks s/he gets paid by the post
Join Date: Nov 2008
Posts: 3,406
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Quote:
Originally Posted by Tailgate
wow.. sounds like a fun day! Especially with the grandson. We don't have children, so we lack that opportunity.. wish the local library had a lending program for kids .. check em out for a day or two and then turn them back in ... I'll probably just volunteer... |
Bob,
Volunteering can be a lot of fun and a good way to meet new friends. I volunteer at the local PBS station for a Saturday morning radio show for the blind. Lots of fun and good folks. Look around and you will find something that is just as rewarding for you.
If you like kids then maybe assisting a coach for swimming, soccer, little league, cross country, football, etc. I have no experience in that and don't know if it gets too political and then not fun but it's a thought to look into.
My only frustration is that I need a few hundred more years to try everything that I want to do.
Cheers!
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