Retired this week at 58

[VungTau]

Love it, congrats!

My company was sold in 2013 in China and management, including me, was all let go. I took a good look and decided it was time to begin phase II of my life and have never looked back. You are gonna love it!

Enjoy

 

[Octogirl]

Welcome AZ2020 and best wishes for a good retirement.

 

[sgstaley]

I am so happy for you. You retired at a nice young age too!

 

[Bamaman]

Congratulations on your retirement. It's a shame this is not a good time to take a long vacation to Europe or other country.

 

[AZ2020]

Congratulations on retiring in AZ! We’re also retired in AZ and have 2 houses, one in AZ and another in the snow belt. We plan to unload the northern place as soon as we can get our act together, which is not soon enough. COVID has really slowed our plans, but we’re happy to not have to deal with w*rk.

Do you keep both a summer and winter house? Plan on keeping both??

Both my houses are in AZ. I'm keeping them for now.

 

[travelover]

What the heck will you do all day?

 

[CoolRich59]

Congrats. Enjoy. You earned it.

 

[Mohanish Nehete]

As of 8/1/2020 I retired from my job at a large company in AZ.

Planned on retiring since my mid 20's. My wife retired a few years ago. Daughter is starting college.

2 houses, no debt, 3M net worth. Seems like it was the time to be done working. Looking forward to enjoying the time off.

I've been reading a lot on this site for a long time, but this is my first post. I've learned a lot, and hope to learn even more.

-AZ2020

Congratulations !!!

I can imagine how it feels like.
Can you share your learnings ?

 

[flybynight]

Congratulations on your retirement!! I also retired at 58 last October. Sometimes I feel kinda guilty that all of my friends still have to wake up and go to work everyday. Freedom is not underrated. You will love it!!

 

[ShokWaveRider]

Yes, I have 1M taxable/cash, 1.25M IRA/401K, and the rest is in 2 houses.

Similar NW to when we retired, our ages were lower though, but no HI insurance, and assets were all cash and our main home, no debt. Key for us was ACA and keeping MAGI Low. ~15 years later we still have the cash and the house and live very well. You will do fine and love it.

 

[atmsmshr]

Congrats and best wishes Arizona.

 

[2cheap2eat]

Congrats!!! Enjoy the freedom, I’m still few years away myself

 

[Dean56]

AZ congrats on your retirement!! I hope to do the same sometime in Q1 of 2021

 

[Eucerin]

As of 8/1/2020 I retired from my job at a large company in AZ.

Planned on retiring since my mid 20's. My wife retired a few years ago. Daughter is starting college.

2 houses, no debt, 3M net worth. Seems like it was the time to be done working. Looking forward to enjoying the time off.

I've been reading a lot on this site for a long time, but this is my first post. I've learned a lot, and hope to learn even more.

-AZ2020

Well done!!! Congratulation

 

[PointBreeze]

Welcome, and congratulations! Best thing I ever did was to stop working... and I actually enjoyed my work.

Another big +1

Welcome and congratulations!

I retired at 58 and 5 months, and then consulted part-time for a couple of years. Second best decision I ever made. Best decision was to save so aggressively during my entire career.

 

[Twolves]

That is great. I found out it is good to have few hobbies. Enjoy your retirement.

 

[Live Large]

Land of Retirement

Welcome to the Land of Retirement!

Great first post ~ decision made ER’d. Drop the mic

I can’t remember how I discovered this great site that is full of great advice but glad I did! Thanks for adding to it ~

By the way, Maintained 2 homes past 18yrs last 3.5 into retirement - 70mi apart Condo/Ranch City rural contrast - number of folk here keep two if can. Also, the rental crew - those that + home/apt as source of income.

 

[DRC726]

As of 8/1/2020 I retired from my job at a large company in AZ.

Planned on retiring since my mid 20's. My wife retired a few years ago. Daughter is starting college.

2 houses, no debt, 3M net worth. Seems like it was the time to be done working. Looking forward to enjoying the time off.

I've been reading a lot on this site for a long time, but this is my first post. I've learned a lot, and hope to learn even more.

-AZ2020

Congratulations! I also retired 8/1/2020 at 60 years old after 35 years with a mega company. I could feel the stress just melt away. Similar financial numbers as you and no debt which is key. Health insurance is brutal for DW and I but we'll address that as we go along with possible subsidies. All the best to you and welcome to this site!

 

[dklaus]

Congrats - My first response to any post (been lurking for years).

I'm in a similar situation... would like to retire but for now, I'm practicing how to generate income to replace my salary.

Curious to know how do you plan to invest the $1M cash to generate an income stream? Or are you just going to sit in cash and draw it down to cover your expenses?

 

[kimcdougc]

Congrats and welcome to the other side of freedom. Enjoy.

 

[d.davis]

I am guessing you already checked it out, but do you have enough in your taxable account in order to minimize your medical costs via subsidies through the ACA?

Jumping in:
We're taking a different route showing income to the limit of the 12% bracket with ROTH conversions. Tax savings vs. higher medical is a wash but at the end of the year the ROTH balance is higher.

 

[firewhen]

Congrats - My first response to any post (been lurking for years).

I'm in a similar situation... would like to retire but for now, I'm practicing how to generate income to replace my salary.

Curious to know how do you plan to invest the $1M cash to generate an income stream? Or are you just going to sit in cash and draw it down to cover your expenses?

We are heavily invested in stocks, 2% dividend return, have been reinvesting all the years but will shut that off and have the dividends automatically deposited into my money market account.

 

[Retired Expat]

As of 8/1/2020 I retired from my job at a large company in AZ.

Planned on retiring since my mid 20's. My wife retired a few years ago. Daughter is starting college.

2 houses, no debt, 3M net worth. Seems like it was the time to be done working. Looking forward to enjoying the time off.

I've been reading a lot on this site for a long time, but this is my first post. I've learned a lot, and hope to learn even more.

-AZ2020

Welcome to retirement, come on in! The water is fine. Your gonna love it!

I fired 8 years ago at 52 with similar numbers. Market run up these past 8 years has been impressive so NW has grown in that time and as not having a steady paycheck bothered me (even if my numbers theoretically were fine) I found some investments that generated the cash I needed to live on without selling appreciating assets.

Take your time to figure out what the next stage will be. Sleep in...or don’t, stay up until all hours of the morning....or don’t. But do grill yourself a nice lunch in the middle of the “work week” and enjoy the simple pleasures of knowing your time is your own now. Well, if your spouse agrees of course!

 

[cnocmmz]

 

[cnocmmz]

I can't even earn 3M in the rest of my life put together much less save it - good job. I been saving since 20s though so i will get where I get and live with that.