Yay for ya!!
Be sure to post tomorrow, Monday, and let everyone know how it feels.
I decided to wait 2 weeks to see if how I felt changes, and no, it has not changed.
It feels great!
Retired this week at 58
- Thread starter AZ2020
- Start date
I decided to wait 2 weeks to see if how I felt changes, and no, it has not changed.
It feels great!
In no particular order:
LBYM, invested the rest. Every raise/bonus went to investments. Still living in the fist house I ever bought. Read Andrew Tobias back in the day. Decided not to end up like my parents. Didn't care if my in-laws thought I was broke. Owned most cars for 10+ years. Married for 35 years. Still trying to convince her we have enough to get by. Enjoy life because it will be over soon enough.
The 1M is mostly invested in an after tax account, only some of it is in cash.
Normally I would have it all invested, but I backed out of spending cash on a large transaction when Covid-19 hit. I decided not to invest it again because I thought the market wold probably stay low for a long time. Who knew it would bounce back so quickly. It is enough to live on for a few years so I'll probably just use it as needed until it runs out.
Because I have enough cash on hand, I'll have to think about doing a Roth conversion next year when I won't have any income.
Thanks to everyone who welcomed me to this forum.
I've never had such a positive reaction on a forum before. Everyone has been so friendly. There is so much bad news these days, it is nice to see something so positive.
I hope this puts a smile on your face as big as the smile on mine!
I've never had such a positive reaction on a forum before. Everyone has been so friendly. There is so much bad news these days, it is nice to see something so positive.
I hope this puts a smile on your face as big as the smile on mine!
ImThinkin2019
Recycles dryer sheets
We are doing something similar. Planning to live on income-bearing investments and letting the stock market investments fluctuate without having to depend on them. Helps us sleep at night.
LBYM seems to be a very common behavior of people who are financially stable. I hear it here regularly.
I was at the transfer station (in the olden days this would be the "dump") on Saturday and the Public Works employee manning the shed told me about his plans- "65 and out-that's the maxiumum pension I can get. I am OK financially - just spend less than your paycheck."
Interesting to see that although his pay was likely moderate, by his habits he now has financial freedom!
Thanks to everyone who welcomed me to this forum.
I've never had such a positive reaction on a forum before. Everyone has been so friendly. There is so much bad news these days, it is nice to see something so positive.
I hope this puts a smile on your face as big as the smile on mine!
Congrats on your retirement and thanks for the positive post!
Sure put a smile on my face!
nadnerb
Dryer sheet aficionado
Need a little help
This is not a topic I'm familiar with - not retired yet. Any suggestions for where to go here for further study on this?
This is not a topic I'm familiar with - not retired yet. Any suggestions for where to go here for further study on this?
Dtail
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
For starters, you can check out the sites listed below to get a feel for medical costs under ACA plans.
healthsherpa.com
healthgov.org
See attached for what types of income is included in the calculations of MAGI (Modified Adjusted Gross Income), which is used to determine the income for calculations of potential subsidies.
https://laborcenter.berkeley.edu/pdf/2013/MAGI_summary13.pdf
In general, folks try to limit their MAGI under the FPL (Federal Poverty Limits) in order to gain subsidies for the medical costs.
Typically this can be accomplished by using monies which are in a Taxable Account and lead to less taxable income.
38Chevy454
Thinks s/he gets paid by the post
I retired almost exactly three years before your date, 08/02/17 for me. It's been a great 3 years so far, welcome to the club!
music-and-ski
Recycles dryer sheets
Congratulations! I'm happy for you.
Do your financial scenarios allow you to keep two homes? I also have 2 houses and 3M net work, but, each of the houses is 1M. So, I can't retire, the houses are too expensive!
Yes, both houses are modest and together are valued at 665K (per Zillow).
We use the 2nd house a lot so we'll keep both until we don't. I could even see downsizing into the 2nd (smaller) house, or sell both and move into a place where all the maintenance is taken care of, but we are not ready for that yet.
Bryan Barnfellow
Thinks s/he gets paid by the post
Congrats! My wife and I got serious about FIRE when I was 37. Was able to walk away five years ago at age 59. Every day is a gift!!
-BB
-BB
Steeler75
Recycles dryer sheets
Congrats on your achievement! Welcome to the world on your terms. Such a great feeling knowing you are now in control of your life/time.
Coming up on 2 years for me and I could not fathom going back to w*rk; couldn’t fit it in to MY schedule
Coming up on 2 years for me and I could not fathom going back to w*rk; couldn’t fit it in to MY schedule
