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Final leg
Old 10-23-2020, 10:10 AM   #1
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Final leg

We are at 2.6mil with a goal of 3mil. This final leg is mentally exhausting. I am experiencing a storm of emotions ranging from extreme anxiety to
"Christmas morning" excitement. Some days I like my j*b and some days I hate it so much.

DW works from home now and will pick up the insurance 2021. The goal is for her to drop to the minimum hrs for coverage as soon as I end my career. Thirty years on night shift is weighing heavily on my body and mind. I am ready.

Daughter 1 is employed. Daughter 2 will start college fall 2021 with expenses fully covered by a separate account. Both have newer and paid in full cars to start their journeys in life. Thanks mom and dad!

Our window is narrow. Soon the responsibility will switch from raising children to caring for elderly parents. Fortunately, our parents have solid finances. At first, there will be little to do. This will be our time to stroll hand in hand on the beach. We love Ocean Isle. In time, more from us will be required. Thank you Lord for our children and parents...and the job too!

Life moves on rather quickly it seems. I am ready.
This board is valuable to me. I do not have to do this alone. You are here for me. Thank you.
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Old 10-23-2020, 11:52 AM   #2
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That was a touching post. Best of luck on the short-term and long-term journey ahead.
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Old 10-23-2020, 12:08 PM   #3
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Best of luck, monte. Enjoy what you've spent years building
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Old 10-23-2020, 02:59 PM   #4
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Monte1022 sounds like you are well on your way. You are so close, you could probably stop now and just lower your spending expectations a bit. Keep that in mind if you start having fewer "Christmas mornings" and "liking" your j*b. As always, YMMV.
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Old 10-23-2020, 04:50 PM   #5
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Monte, you say you are sometimes stressed...but the coming retirement should not be one of the things that stress you. Focus on the walks on the beach, and the honor of being able to take care of your parents when the need arises. You obviously have planned and prepared, so enjoy the ride!

Take a picture of your dream (maybe you and DW strolling on the beach with a pineapple drink) and post it on your wall at work or hang it from your car mirror so you see it every day...this will remind you of the good things to come.
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Old 10-23-2020, 05:04 PM   #6
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Quote:
Originally Posted by monte1022 View Post
We are at 2.6mil with a goal of 3mil. This final leg is mentally exhausting. I am experiencing a storm of emotions ranging from extreme anxiety to
"Christmas morning" excitement. Some days I like my j*b and some days I hate it so much.

DW works from home now and will pick up the insurance 2021. The goal is for her to drop to the minimum hrs for coverage as soon as I end my career. Thirty years on night shift is weighing heavily on my body and mind. I am ready.

Daughter 1 is employed. Daughter 2 will start college fall 2021 with expenses fully covered by a separate account. Both have newer and paid in full cars to start their journeys in life. Thanks mom and dad!

Our window is narrow. Soon the responsibility will switch from raising children to caring for elderly parents. Fortunately, our parents have solid finances. At first, there will be little to do. This will be our time to stroll hand in hand on the beach. We love Ocean Isle. In time, more from us will be required. Thank you Lord for our children and parents...and the job too!

Life moves on rather quickly it seems. I am ready.
This board is valuable to me. I do not have to do this alone. You are here for me. Thank you.
30 years of the night shift. WOW I did about one year and hated it.
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Old 10-23-2020, 05:54 PM   #7
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Quote:
Originally Posted by monte1022 View Post
We are at 2.6mil with a goal of 3mil. This final leg is mentally exhausting.
What happens if you don't get there? That is, is 2.6 "enough"? What I'm trying to suggest here is that perhaps there isn't a magic number, but more likely a range of values that allow some (small) differing in lifestyle.

2.6M @ 4% = $104,000
3.0M @ 4% = $120,000
but
3.0M @ 3.5% = $105,000
2.6M @ 3.5% = $91,000

I look at things this way, especially since markets can have some sever swings.

That thought process also made it easier on me doing those last couple years - to know that I wasn't absolutely forced to do them, that I could leave if I wanted (albeit with a smaller yearly budget).
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Old 10-23-2020, 06:40 PM   #8
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Quote:
Originally Posted by Koolau View Post
Monte1022 sounds like you are well on your way. You are so close, you could probably stop now and just lower your spending expectations a bit. Keep that in mind if you start having fewer "Christmas mornings" and "liking" your j*b. As always, YMMV.
Exactly! Although you could reach your goal sooner if you keep working for a while, you could also reach it by quitting work tomorrow and saving your way to the goal.

But really having 2.6, 2.8 or 3.0 million is just a number. What really matters is that you are enjoying life.
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Old 10-23-2020, 08:38 PM   #9
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Thanks for the replies. We have our expenses down to approx 4k/mo. I doubled that number for good measure with the ideal retirement budget at 6k/mo. DW will carry insurance x5yrs then who knows what we will have to pay. We are 54 and 51. We still need to replace the roof, HVAC, and one vehicle. The exit opens with numbers north of 2.75mil. W*rking longer, if possible, will have a significant impact on these early lumpy expenses.

I truly hear and consider each and every response. Once again, thank you.
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Old 10-24-2020, 03:46 AM   #10
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Any chance you could find your way to the day shift for the next few years?
Even at a reduced pay rate?
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Old 10-24-2020, 04:08 AM   #11
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Hope you are financially comfortable soon. Accumulation is one way. Getting a good grasp of the difference between "Needs" and "Wants" is another. Don't make the mistake of trading time for money.


Cheers!
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Old 10-24-2020, 07:35 AM   #12
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Quote:
Originally Posted by monte1022 View Post
We are at 2.6mil with a goal of 3mil. This final leg is mentally exhausting. I am experiencing a storm of emotions ranging from extreme anxiety to
"Christmas morning" excitement. Some days I like my j*b and some days I hate it so much.

DW works from home now and will pick up the insurance 2021. The goal is for her to drop to the minimum hrs for coverage as soon as I end my career. Thirty years on night shift is weighing heavily on my body and mind. I am ready.

Daughter 1 is employed. Daughter 2 will start college fall 2021 with expenses fully covered by a separate account. Both have newer and paid in full cars to start their journeys in life. Thanks mom and dad!

Our window is narrow. Soon the responsibility will switch from raising children to caring for elderly parents. Fortunately, our parents have solid finances. At first, there will be little to do. This will be our time to stroll hand in hand on the beach. We love Ocean Isle. In time, more from us will be required. Thank you Lord for our children and parents...and the job too!

Life moves on rather quickly it seems. I am ready.
This board is valuable to me. I do not have to do this alone. You are here for me. Thank you.


Exactly same numbers and situation. Except son is in 2nd he or college and just a bit further south at sunset beach. There are days that I cannot concentrate.
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Old 10-24-2020, 05:09 PM   #13
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I wish you the best and I hope your reach your target.

Don't watch George Gammon's latest video about the typical 60/40 portfolio:
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Old 10-24-2020, 05:31 PM   #14
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Quote:
Originally Posted by monte1022 View Post
Thanks for the replies. We have our expenses down to approx 4k/mo. I doubled that number for good measure with the ideal retirement budget at 6k/mo. DW will carry insurance x5yrs then who knows what we will have to pay. We are 54 and 51. We still need to replace the roof, HVAC, and one vehicle. The exit opens with numbers north of 2.75mil. W*rking longer, if possible, will have a significant impact on these early lumpy expenses.

I truly hear and consider each and every response. Once again, thank you.
One thing I noticed when I become FI (financially independent - IOW I COULD afford to leave Megacorp - even if it might have been a bit tight): I really relaxed. I found I could put up with the corporate drivel (program of the month such as Performance Excellence or 6 Sigma, changing formats for performance reviews like 360 degree feedback, etc., silly stuff like doing away with several Perks - reserved parking for 25 year people, nice dinners for 25 year or "management" folks (Sr staff in my case) - all happening just as I 'got there'.) On and on.

Once you realize YOU now have the key to the golden handcuffs, EVERYTHING changes. They can't threaten or cajole you into things you don't want to do. I've told the story that I was told I was going BACK to a lab bench (white coat and uniform, plastic gloves, face mask, etc.) I said "No, I'm not. I'm retiring on Friday. It felt good to have some control. FI gives you back that control over your own "destiny." YMMV
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