Class of 2020

[Dalmore]

15 working days to go. Portfolio is down 13% from 2020 peak, but my projected spend is still only 3% and I have 5-7 years of cash to wait out the coming depression. Work just replaced the boss that pushed me over the edge to begin thinking about retiring and co-workers that depend on my skill-set are panicking about my leaving. I knew it was going to be hard to finally walk away, and I was all set mentally to deal with that. Then the world tilted on its side with the COVID-19 and all the unknowns it represents. I'm not as excited as I wanted to be as my day approaches. Now I am struggling with the idea of do I stay another month? Two? Or just close my eyes and jump off the bridge as planned.....

[ugeauxgirl]

Quote:

Originally Posted by Dalmore 15 working days to go. Portfolio is down 13% from 2020 peak, but my projected spend is still only 3% and I have 5-7 years of cash to wait out the coming depression. Work just replaced the boss that pushed me over the edge to begin thinking about retiring and co-workers that depend on my skill-set are panicking about my leaving. I knew it was going to be hard to finally walk away, and I was all set mentally to deal with that. Then the world tilted on its side with the COVID-19 and all the unknowns it represents. I'm not as excited as I wanted to be as my day approaches. Now I am struggling with the idea of do I stay another month? Two? Or just close my eyes and jump off the bridge as planned.....

I can see that it would be tempting to stay after evil boss is out of the picture and with all the uncertainty going on. Your projected spend is low and you have a ton of cash. You could stay, but it sounds like you won't be improving your life much if you do.

The way I think of it in my own situation is that I really don't deny myself anything that I want. More money would not improve my standard of living. If I keep working, I DO get more money, but what difference does that make when you already have all you need. It's like working for free- to me. But your situation might be different.

[pacificlou]

I've been through this a few times, once this has passed by your account will go back or close to what you had before all this fiasco occurred, the difference right now is that this is first time a virus has impacted the economy vs a recession from previous time. O believe the economy will get back on its feet and resume what we had prior. Whatever you do research options, I lost $$$ in the beginning of this and have now been getting back to where it was, maybe another month. Good Luck

[pacificlou]

Let me give you all a reality check, no one has a crystal ball guaranteeing you or spouse longevity to those golden years. Don't believe me then look at the current standards for life expectancies. Women for the most part on average 81.3 months and men around 79 give or take. But those are averages, since I've been retired in 2005 I've seen many who never made it to collect SS at 62 and those beyond 65 start to fall.
If you wait to max out your SS and have more money than you can spend within your current lifestyle with 401Ks and whatever, you'll be missing out on what life really has to offer, I always hear people say I love working, I like to keep busy etc..., that's good and fine but when your health starts to decline or God forbid you get injured or any medical issue comes you'll regret the fact you had an opportunity to really enjoy what life had to offer.
Reconsider what you have and think about how you want to live the remainder of years (Good health) and be wise with your money, we only have one shot and make the best of it. Good Like and Be safe.
PS, I survived a few medical issues, heart, cancer (Pancreatic) whipple surgery and I rejoice everyday I left work when I did and shared time with my grandchildren helping raise them, travel and enjoy my family and friends, I'll be 70 in August still a youngster.

[Draggon]

Sound advice, pacificlou - thanks for sharing.

[Dalmore]

Thanks for the replies. DW is still working and when she finally decides to retire (she was supposed to retire with me) she will get a good pension. I know we will be fine going forward. It's all about taking that first step...

[roadtripper]

I put in my paperwork for 6/30/2020 back in January. In my school district, it's irreversible. I am a travel agent as my side hustle lol. Not so much worried about the market or income right now, but I won't be able to say goodbye to my students if we're out for the rest of the year. That's why I requested teaching 2 classes next year. I would be able to collect my small pension and get paid 2/5 of my salary. We'll see if they let me. Fingers crossed.

[pdxgal]

Quote:

Originally Posted by free2020 My sense is that the fishing pond above is filled with mostly flesh eating fish. In my experience, management ranks tended to attract the worst elements. With very few exceptions. There is such a dearth of good leadership. Much happier as an individual contributor and small team player.

+1. Though I do sometimes regret that I didn't at least give it a shot for personal growth reasons, and also to make a bit more $$. Then again I had a job 20 years ago that paid pretty well but 60 hr weeks were the norm. Jumped ship to a 'lesser' job that paid 20% less, but I also worked 20-30% less, so my hourly rate was the same. And I was MUCH happier.
Our current "leadership" in my dept is the worst I've experienced in my nearly 20 years in the company. On the plus side, I'm more motivated to ER.

[pdxgal]

Quote:

Originally Posted by COcheesehead Do we all realize how lucky we are to take a hit so early in retirement? Most SORR failures happen at market peaks.

Could you elaborate please? Not sure I follow you. I thought by definition SORR is (potentially) worse if it happens early in retirement, if one is not able to reduce SWR enough to still cover expenses and is forced to sell low? Maybe this could be a new thread (or already is?) Don't want to hijack the original 2020 topic.

[ugeauxgirl]

I put myself on mornings only at work since there isn't much to be done at the moment. I amble in at 9:30 and I'm out of there by noon. Enjoying that. Not sure how far back it will push my days of going into the office. Maybe I'm still on track for this year. September?

[COcheesehead]

Quote:

Originally Posted by pdxgal Could you elaborate please? Not sure I follow you. I thought by definition SORR is (potentially) worse if it happens early in retirement, if one is not able to reduce SWR enough to still cover expenses and is forced to sell low? Maybe this could be a new thread (or already is?) Don't want to hijack the original 2020 topic.

I guess it depends if you are taking withdrawals or not.
I will start withdrawing in July. I prefer to have already taken the haircut than to have started my retirement in say January of this year when I would have taken money out and my portfolio goes down.

[1242Vintage]

Ten “working” days until my April 30th retirement.

All paperwork is in to Corporate HR and just running out my time until the end of the month.

After our daily check in WebX tele-conference on the 30th, the only task I have on my calendar that day is a trip to the post office to box up and send back works laptop, cell phone, and security badge.

Pension kicks in May 1. Let the good times roll!

[Dalmore]

Quote:

Originally Posted by 1242Vintage Ten “working” days until my April 30th retirement. All paperwork is in to Corporate HR and just running out my time until the end of the month. After our daily check in WebX tele-conference on the 30th, the only task I have on my calendar that day is a trip to the post office to box up and send back works laptop, cell phone, and security badge. Pension kicks in May 1. Let the good times roll!

Congrats!

I, too, have told work that 4/30 is my last full time day. I've been talked into a soft-separation and will be working part time for a couple of months to ease the transition. My plan is to call in two - three times a week. If they need me, then I will work. If they don't, then I am free to go play and not worry about having to answer my phone.

[Markola]

Congrats to those getting out! With the big financial downturn at w*rk, it might soon be forced upon me and I think I’ll know in a couple of weeks. After that, whenever it ends, the financial plan calls for semi-FIRE consulting or at least a solo contributor role vs. managing others. I’ve mostly enjoyed management and leadership and the higher pay but the tank feels kind of empty when I thinking about cranking all that up again somewhere else. If selling wine or working in a hardware store part time paid anything, I might try that. [emoji898][emoji1009]

[DRC726]

Quote:

Originally Posted by Draggon To put it mildly, the world has changed a bit since the last update on 3/16/2020. Almost unbelievably. That said, Your LIST update is here! Congratulations to everyone that's "Made It" so far! Livin' the dream (although likely in isolation)! Class of 2020 (Un)Official list... (I like lists! ): dingo - 1/2/2020 (Congrats! (snuck in front of Ergragg1)) {CHECK} Erbragg1 - 1/3/2020 (Early bird... Teacher's pet... ) {CHECK} Octogirl - 1/3/2020 {CHECK} (Getting shafted on part-time work?) INTJ10 - 1/9/2020 {CHECK} (W*rking an overpaid temp job) Out_the_Door - 1/24/2020 {CHECK} idledancer - 1/27/2020 {CHECK} nobodyspecial - 1/31/2020 {CHECK} AS2019 - 2/14/2020 {CHECK} (Announcement) Third Son - 2/29/2020 {CHECK} target2019 - 2/28/2020 {CHECK} HighFlight - 3/4/2020 {CHECK} (but not the easy way!) nobody - 3/6/2020 {CHECK} 51notout - 3/6/2020 {CHECK} Maenad - 3/13/2020 {Waiting for Update...} Go-NoGo - 3/16/2020 {CHECK} georgemoe - 3/20/2020 (after 43 years!) {Waiting for Update...} CoastboundPNW - 3/31/2020 {Waiting for Update...} DRC726 - 3/31/2020 {Waiting for Update...} Grimelowe - 4/3/2020 (45yo - Nice!) jaharrer - 4/30/2020 mattwallace24 - 5/2020 (Placeholder) Dalmore - 5/1/2020 Mountain skier - 5/2020 ("late May") RobLJ - 5/15/2020 (Retiring the rest of the way! ) Ger0n1mo - 5/31/2020 (Hoping...) kingkarmann - 6/1/2020 OTDasap2020 - 6/1/2020 brainsagolfer - 6/1/2020 (maybe earlier?) pdxgal - 6/30/2020 (Committed now! ) TN Jim - 6/30/2020 (40 years is enough!) Lienlord - 7/1/2020 (fuzzy - due to pandemic!) ugeauxgirl - 7/1/2020 (Class ringleader ) COcheesehead - 7/10/2020 wmackey - 7/10/2020 free2020 - 8/31/2020 FlyFisher - 9/1/2020 L Carlisle - 9/1/2020 (MOSTly retiring...) spikeykiller - 9/10/2020 (Say "NO!" to OMY! ) GoBugGo - 9/25/2020 cnocmmz - 9/30/2020 Unpaintedhuffhines - 10/1/2020 (RSU's FTW! ) bada bing - 10/1/2020 (Placeholder for now) Draggon - 11/1/2020 (Leaving 9/23/2020 w/PTO) Mr. Vacation4us - 11/2/2020 f35phixer - 11/12/2020 (Not committed - likes their J*B!?) ohiodep and the DW - 12/1/2020 (Leaving work 9/17/2020 on vacay!) tinlizzy - 12/1/2020 (deferred from 6/1 - i.e. Plan B!) Mrs. Vacation4us - 12/15/2020 (Mr. V cut in front of her!) FLSUnFIRE - 12/31/2020 (date taken from "the end of the year") HNL Bill - 12/31/2020 (deferred due to pandemic ) retire202052 - 12/2020 (I may have figured out the pattern of your UserID ) gamboolman - ??/2020 (pick a date, any date... ) RxMan - ??/20?? (Class of 2020 Official Stalker) Anyone else want to post their target? Also, lemme know if I miss one.

Update: My retirement has been delayed. Management asked me to delay my retirement date due to the pandemic which really isn't too bad as I'm basically working part time from home earning my full time pay. Pretty good gig! No definite date set yet but I would think I'll be done by the summer.

[ugeauxgirl]

Quote:

Originally Posted by DRC726 Update: My retirement has been delayed. Management asked me to delay my retirement date due to the pandemic which really isn't too bad as I'm basically working part time from home earning my full time pay. Pretty good gig! No definite date set yet but I would think I'll be done by the summer.

I'm working part time now too. I like it!

[COcheesehead]

Back from my 5 week virus motivated "furlough". Sitting at my old desk now playing out the last 8 - 9 weeks.

The 5 weeks of "practice" retirement was interesting. It took me maybe 24 hours to feel comfortable. We developed a bit of a routine. The dog was walked first, then my wife would have breakfast, none for me since I practice IF, then we would walk to a trailhead from the house for hike or do a bike ride for a few hours. The afternoon was filled with guitar, reading, YouTube, new house planning, chores or maybe some weightlifting. Then dinner, some wine, a movie, Scrabble or just sitting on the back patio enjoying the warm weather.

The 5 weeks flew by. Once the virus issues dissipate I look forward to doing more people interactive things like classes, volunteering, special events gig at the local wineries and more regional, car based travel. Flying may have to wait a bit longer.

Someone on here said retirement is a bit like being on summer vacation when you were in school and that's the way it felt. There is always something to do and it just sort of flows, but it also seemed to go too fast.

[kingkarmann]

I’ve been furloughed since March 18th. I’m scheduled to return to work May 11th.
I’ll only have 3 weeks until my June 1 retirement date. I talked to my boss about moving up the date and just vacationing out. I really don’t want to go back to the plant. I see no point plus my mother has dementia and is 80. I’ve been taking the social distancing very seriously for her sake. Unfortunately they want us all back for at least the first week or so so they can”assess the manpower situation”
I just signed an enhancement to my retirement because they want to reduce our workforce. I’d just say the hell with it and not go back if it didn’t violate the signed agreement. It’s gonna be a long 3 week’s.

[jaharrrer]

jaharrer - 4/30/2020 (Retired Today)

[51notout]

Quote:

Originally Posted by jaharrrer jaharrer - 4/30/2020 (Retired Today)

Congratulations! I hope you enjoy it as much as I have so far (7 weeks in).