Starting to Retire

[TheRib]

Hi Everyone,
Stumbled on this forum and find it fascinating because so many people have the same issues and questions that I do.
A little over a year ago, I finally made my 7 figures in net worth (assets minus liabilities minus primary residence), and then about a month ago finally made the 7 figures in stock/cash/bonds - but alas the recent dip made me 'poor' again. That got me to wondering how much is enough' and then found this forum which has helped me a good deal.
I am in good health and enjoy traveling. In the past 3 years, I have done a 23 day trek in the Himalayas, a 10 day trek on the Camino de Santiago in Spain from Leon to Santiago de Camposteola. I have hiked for 10 days in Corsica, hiked part of the Lewis and Clark Trail in Oregon/Washington, and sailed on the QM2 to London, spent a week in London and took the chunnel to Paris for a couple of days.
I know I cannot spend all of my time traveling, and since I don't golf, fish, play cards or dominoes, I am searching for what I will do when I finally get my business sold and start the 'next phase of my life'
I want to thank every one for their helpful posts, and wonderful information.

 

[SteveR]

Welcome to the forum. Glad you found your way here and we look forward to reading your posts. Yes, there are a LOT of like-minded folks here and that is why this board is unique and is the best one I know of on the internet for early retirement information and support.

Visit the Travel forum and please add some specifics on your wonderful trips.

Good luck and again welcome to the board.

Oh, don't sweat the dips and runs of the market too much. It happens all the time and will continue to happen. Diversify and you will still make money even in a down market.

 

[megacorp-firee]

I know I cannot spend all of my time traveling, and since I don't golf, fish, play cards or dominoes, I am searching for what I will do when I finally get my business sold and start the 'next phase of my life' n.

Welcome Rib, ... why can't you spend the bulk of your next few years traveling? You don't state your age, but you gotta do this when you're young.
To answer the how much do you need, ... that's a personal decision. It really depends upon your expense history. Keep track of what you usually spend and then add the 'extras' for traveling and hobbies and you should have it. Then inventory your wealth, do some basic math and see if the equation closes. For details, check out some of the posts in this forum.

... by the way, there ARE a lot of smart opinionated people here who can give you lot of good advice. Pick the stuff you think is of value and take appropriate action with the other stuff.

Best of luck to you.

 

[novaman]

Hey there-

I originally wanted to retire early (before 50), but a serious injury put me out of work for 2 months and nearly ended my career. During that time I realized how much I really enjoyed my job and what it meant to me. I'm a dentist, and I love helping people, using my skills, interacting with people, being creative, and felling useful.

So my new modified plan is really to just keep working as long as I want, and simply to scale back over time to allow more time for other activities such as traveling....

In spite of what some here might say....there is nothing wrong with keeping your job.

 

[JDARNELL]

Welcome to the board! Yes sometimes an injury or family illness put things into perspective and make us ask "why and I doing this or how much is enough?"

Hey there-

I'm a dentist, and I love helping people, using my skills, interacting with people, being creative, and felling useful.

What about combining this skill along with some traveling and provide some of your talents to others? I know a couple of Drs and nurses that go on trips to various parts of the world a couple of times a year to provide their service. Might be a rewarding experience?

Welcome again!

Tomcat98