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Ready to FIRE at 52
Old 04-11-2016, 04:16 PM   #1
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Ready to FIRE at 52

As long as it has taken to get to this point, it seems to have crept up fast these past few years. I have less than one year left before I pull the plug on a 28 year career. My DW has a couple more years before she can do the same. We have saved very hard these past decade in a half and worked to pay off everything we could. House will be paid off before she retires, and we will have two DB pensions along with the mixture of 403B, 457df, and 401k's.

My first part time job will be that I get to babysit my grandson, never looked forward to any job more in my life. This has been a long journey that has been carefully calculated thru pages of Excel spread sheets I created to track every imaginable scenario to make sure we can do this and actually do it better than we are living today.

When I say that, let me quickly explain, we will not be living with 100% of our gross income in retirement, but we will be living on 130% of our net income in retirement. Truly it is the net income once everything is paid that really counts, how much is left over when everything is paid each month so we can travel and be as active as we plan going forward. I look forward to utilizing this site often for tips and tricks and continuing education going forward!! Take care everyone!!

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Old 04-11-2016, 04:42 PM   #2
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Welcome--and Good Work (and planning)!

Much of your story rings bells for me--many years of planning, mad-type savings in the last decade or so after kids flew the nest, and anticipated better standard of living in retirement while not coming near the same Gross Income. Plus, definitely creeping up faster as we get closer to it. (No DBs, but that goes to career choices that DW and I don't regret)

Here's to the next year going by fast!

OMY * 3 2ish Done 7.28.17
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Old 04-11-2016, 11:54 PM   #3
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If you like spreadsheets and saving money I think you have come to the right forum. Welcome.
Even clouds seem bright and breezy, 'Cause the livin' is free and easy, See the rat race in a new way, Like you're wakin' up to a new day (Dr. Tarr and Professor Fether lyrics, Alan Parsons Project, based on an EA Poe story)
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Old 04-12-2016, 12:52 AM   #4
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Well said John

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Old 04-12-2016, 05:51 AM   #5
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Welcome. Your story sounds great, and very close to my own as well.
"The mountains are calling, and I must go." John Muir
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The frustrations
Old 04-18-2016, 08:59 AM   #6
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The frustrations

For the last ten years I have tried to help co-workers get ready and understand the difference between saving for retirement and actually planning for it. So many do not want to spend the time to really develop a plan and three of my co-workers are actually having to continue working because they have now hit the mark and are not ready, didn't plan well, and didn't forecast their needs. No early retirement for them.
Luckily the few I was able to work with and get started in taking charge of their retirement planning are on track. I just wish a great emphasis was putting on the planning side. Once we made a plan and lived within it, well it has made life so much easier and on track for travel and grandkids at an age where I can still teach him how to throw a curve ball.
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Old 04-18-2016, 09:04 AM   #7
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Originally Posted by Johnora View Post
...and grandkids at an age where I can still teach him how to throw a curve ball.
Please don't do it before he's old enough not to injure himself:

Should curveballs be banned in Little League Baseball? -
Numbers is hard

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Old 04-18-2016, 09:15 AM   #8
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Good point, that is how my oldest son broke his glasses and my youngest missed one and took one in the kisser. Maybe we will start with a slider....
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Old 04-18-2016, 09:57 AM   #9
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Good for you, hope you have fun and enjoy the time not working! It sounds like you have planned well and now time to reap the benefits of those plans.
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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A little update...
Old 08-02-2016, 08:40 AM   #10
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A little update...

So August 1st, I submitted my retirement notice and plan to have my last day of work as December 22nd, 2016. with lots of vacation time on the books I'll be hitting the pension March 1st, 2017.

Lots of great thoughts and advice on these boards and I soak up as much of it as I can, but with the opportunity to retire now and maintain my current way of living at 100% net, just no good reason to stay in the rat race. My DW will have 3 more years in before she can FIRE but even then she will only be 56 and have plans.....
FIRE'd 3/1/2017 age 52 - Pension w/ COLA - all other retirement accounts A/A 86/14 - prior to FIRE net income (cash flow) each month funded at 105% - SWD currently 1.1%
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Old 08-02-2016, 11:23 AM   #11
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Congratulations, Johnora! You'll have a nice long glide slope to get ready for your last day. Hope all goes well and keep us posted!
"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 08-02-2016, 11:46 AM   #12
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wow congrats! you picked a great place to retire!
Swing hard, look up
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Old 08-03-2016, 12:26 PM   #13
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I retired at 59 and I am now 64. The only shock I got was medical insurance . This being our last year before I go on medicare, the bill for wife and I hit 23k/year....for soso coverage...before obama care I had it down around 8k with high deductible.

You've got to ask yourself one question: Do I feel lucky? Well, do ya, punk?
Retired July '11 investments 60/40 in very low cost index and mutual funds, balance once a year at best.
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