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The Finish Line is in sight
03-16-2012, 06:50 AM
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#1
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Dryer sheet aficionado
Join Date: Mar 2012
Posts: 40
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The Finish Line is in sight
Hi Everybody,
I am 56 and after a couple of years of reading this board and learning from the experiences of others I officially turned in my retirement papers this week! Last official day will be June 12 but winding down with vacation, etc. after May 4. It has been an interesting transition over the last 2 years to get to this point and I hope to post more details on the psychological and emotional impact even talking about it has had on my wife and me.
I always planned to retire around 55 and saved accordingly from early in my career. My wife was on board so we saved 25 to 30% of everything I made for the first 10 years or so. 3 kids and 12 years into it I was debt free and ready for a career change and took at job closer to my family at a University, being a teaching Physician. As our kids grew up we had a lot of lifestyle creep with extra cars, ski vacations, and expensive colleges. Fortunately, the power of compounding actually worked so we are in good shape to live off around a 3% SWR with employer subsidized health insurance.
I told a few key people at work yesterday, so I figure by today everyone will know. I've been talking to my Department Administrator about this for awhile and she keeps asking me to work 1/2 time (NO) or at least a day a week. I told her I want a complete break from Clinical Medicine but then she said I could just be a consultant with a very flexible schedule on a few long term administrative projects. I might do that for a couple of months to help her out and ease my wife into having me around more.
It is good to be joining the class of 2012 and I appreciate any advice or comments as I go through this exciting time.
Jackson
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03-16-2012, 06:55 AM
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#2
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,714
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Hi Jackson D. Welcome to the forum and congratulations on your upcoming retirement!
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03-16-2012, 07:07 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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But...but... Rich_in_Tampa taught us doctors never retire - or at least not without years of anguish and severe bouts of "just one more year" syndrome. 
__________________
Numbers is hard
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03-16-2012, 07:19 AM
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#4
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Full time employment: Posting here.
Join Date: Feb 2007
Posts: 599
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 Quote:
Originally Posted by Jackson D
It has been an interesting transition over the last 2 years to get to this point and I hope to post more details on the psychological and emotional impact even talking about it has had on my wife and me.
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Congratulations! And, welcome to the forum. I know you've been lurking but it's nice to see you're posting.
Regarding the "psychological and emotional impact" - I hope it's been positive.
DW and I retired last year. Several of my former co-workers also opted to take early retirement when MegaCorp offered a financial incentive to leave. Of the several people I frequently worked with approximately 1/2 have already taken other jobs. That was not their plan initially so I think they overlooked the fact that it's important to retire TO something not FROM something. Of course, there are aspects of to and from in everyone's retirement decision but the TO component should not be overlooked.
Best Wishes.
__________________
Dreamin' of Streamin'
FIRE'd at 52 on 7/8/11
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03-16-2012, 07:19 AM
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#5
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,714
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Quote:
Originally Posted by Jackson D
I told a few key people at work yesterday, so I figure by today everyone will know. I've been talking to my Department Administrator about this for awhile and she keeps asking me to work 1/2 time (NO) or at least a day a week. I told her I want a complete break from Clinical Medicine but then she said I could just be a consultant with a very flexible schedule on a few long term administrative projects. I might do that for a couple of months to help her out and ease my wife into having me around more.
It is good to be joining the class of 2012 and I appreciate any advice or comments as I go through this exciting time.
Jackson
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If they provide occasional diagnostic help to our increasingly frequent questions on "what do I have", does that count?
Jackson D, it's been 12 years for us and my wife still isn't used to having me around...
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03-16-2012, 07:35 AM
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#6
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Dryer sheet aficionado
Join Date: Mar 2012
Posts: 40
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REWahoo you are right about anguish and "one more year" syndrome. I was all set to go in 2010 on my 55th birthday and was even counting down the days 65, 64, 63 but then we hired another Doctor to help me and my work life got so much better that I just negotiated to go 75% and try that for awhile. After months of knowing how many days left, I actually lost count and was much happier. That worked well for awhile but Medicine sucks you back in and after a period of time, some of my colleague friends started making fun of me for my getting paid 75% while working 110% lifestyle. I transitioned to a bit more administrative duties and started a couple of long-term projects that have now basically wrapped up. I began targeting a good time to quit and now find myself back on the countdown. I try to learn from my mistakes and hopefully won't be sucked back in by agreeing to consult a little bit.
Jackson
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03-16-2012, 07:42 AM
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#7
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 40,714
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Is there something specific you have been looking forward to once you have the time? For some individuals "One more year" may mean "I'm not sure what to do next".
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03-16-2012, 07:45 AM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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Quote:
Originally Posted by Jackson D
I was all set to go in 2010 on my 55th birthday and was even counting down the days 65, 64, 63 but then...
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Nothing more frustrating than having your goalpost moved - especially when you do the moving!
Sounds like you may have gained valuable knowledge as a result of your self-inflicted delay. I hope your de-cloaking on the forum is an indication this time you mean it - really.
__________________
Numbers is hard
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03-16-2012, 08:38 AM
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#9
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Dryer sheet aficionado
Join Date: Mar 2012
Posts: 40
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No going back now, Ive got too much to do. Schedule for the next few months includes:
1. 2 week Mediterranean cruise
2. Princeton graduation for kid #3
3. Triathlon in June
4. Train for Triathlon club nationals (I've gone four times and never had time to train like I wanted)
5. Lower my golf handicap
6. Plan trips to Florida and California to visit my other kids. Tour Napa and Yosemite in the process
I have a multi page list with so many things to do I am exhausted just thinking about it. I would go take a nap but I have to go to work for a little while.
Jackson
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03-16-2012, 10:09 AM
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#10
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,303
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Quote:
Originally Posted by Jackson D
It has been an interesting transition over the last 2 years to get to this point and I hope to post more details on the psychological and emotional impact even talking about it has had on my wife and me.
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Welcome aboard and congrats. The sentence above resonated with me (and others I'm sure). We had the same sensation in the last few years leading up to retirement, it was an interesting change in POV, and continues to evolve. Wouldn't want it any other way...
Quote:
1. 2 week Mediterranean cruise
2. Princeton graduation for kid #3
3. Triathlon in June
4. Train for Triathlon club nationals (I've gone four times and never had time to train like I wanted)
5. Lower my golf handicap
6. Plan trips to Florida and California to visit my other kids. Tour Napa and Yosemite in the process
I have a multi page list with so many things to do I am exhausted just thinking about it.
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You sure aren't going to have to worry about what to do...that's a good thing IMO!
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
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03-17-2012, 02:24 AM
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#11
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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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Welcome and congrats.
__________________
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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03-17-2012, 03:48 AM
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#12
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Thinks s/he gets paid by the post
Join Date: Mar 2012
Posts: 1,555
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Welcome to the group. Sounds like it's time to enjoy life.
__________________
"Growing old is no excuse for growing up."
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03-17-2012, 04:33 AM
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#13
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Thinks s/he gets paid by the post
Join Date: Mar 2007
Posts: 1,860
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Welcome to the forum Jackson!
Always inspiring to see another one go...well done.
Reading posts on this forum have actually caused me to slightly speed up my goal of FIREing. I appreciate that from many of you.
__________________
"Live every day as if it were your last, and one day you'll be right" - unknown
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03-17-2012, 01:39 PM
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#14
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Recycles dryer sheets
Join Date: Feb 2012
Location: Minneapolis
Posts: 61
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Welcome to the forum, Jackson, and congrats!! Your upcoming schedule is enviable, IMO. Item #5 has been on my list for years, but it seems unobtainable. 
My son-in-law just got "matched" for his residency, so I get to observe his journey in the medical profession first-hand.
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