FIRE'd now heading to just FI

[Bigdawg]

DW and I became FI when we each retired from the military and began receiving our pensions. Unless, of course, our expenses outgrow those pensions. That hasn't happened yet. I added the RE in January of this year. It has been a fun 7 months. One goal was to get the young DW interested and involved in RE issues. That has been accomplished. The first 3-4 months of RE for me was covered by umpiring baseball, officiating volleyball matches and working on the honey do list. The past three months I have found myself yearning to get back into military aviation. I turn 50 in the fall and the plan is to complete OMY probably twice. I guess that would make it TMY's. The two year plan is to clean up all of the other areas of FIRE other than the pension portion. Wills, trusts, insurance, finalize investments and clean up the real estate trail I have left across the country. I do consider my FIRE a success. On an individual basis that is. But, for those of us with DW's (or DH's), we know it takes two to tango.

Had a great 6 fig job interview today and I have two 6 figure contingency offers already signed. I expect to be starting something soon.

[Senator]

Good luck.

Once I am out, I am not going back...

[amyj05]

Congratulations and best of luck!

[Bigdawg]

I admire most of the FIRE's folks on here because most set their goals, did their planning, due diligence, sacrificed, became FI and then chose the date and time for RE. I did not do that. The FI came easy with both of our military pensions. The past 7 months of RE was to shake up the DW and get her to start thinking about RE. She is only 43 and has a 75 yr old father who still runs his own company. Great example right? The 2 yr plan, like I posted earlier, is to shore up the budget, taxable accounts, emergency fund and real estate trail and be RE for me in 2 years. Probably 6 for DW. She gets a second pension then. She just got a raise and a 50% boost in vacation. DD has 2 more years of college. When she graduates, DW will get another wake up call. All in all I am happy with RE but also ready to go back to a career I enjoy (knowing that it will be short lived-OMY X 2). Thanks for everyone's support. FIRE, changing the definition as we go.

[Live And Learn]

There is no shame in working after FI. You appear very eager to get back out there. FI gives you the option to do what makes you happy and this TMY seems to be exactly that for you. All the best with whichever gig you choose.

[Willers]

I agree that being FI doesn't mean you have to retire. It gives you the freedom to be very selective. Nothing wrong with that...


Good luck!

[Nords]

Quote:

Originally Posted by Bigdawg I turn 50 in the fall and the plan is to complete OMY probably twice. I guess that would make it TMY's. The two year plan is to clean up all of the other areas of FIRE other than the pension portion. Wills, trusts, insurance, finalize investments and clean up the real estate trail I have left across the country. I do consider my FIRE a success. On an individual basis that is. But, for those of us with DW's (or DH's), we know it takes two to tango. Had a great 6 fig job interview today and I have two 6 figure contingency offers already signed. I expect to be starting something soon.

Quote:

Originally Posted by Bigdawg The 2 yr plan, like I posted earlier, is to shore up the budget, taxable accounts, emergency fund and real estate trail and be RE for me in 2 years. Probably 6 for DW. She gets a second pension then. She just got a raise and a 50% boost in vacation. DD has 2 more years of college. When she graduates, DW will get another wake up call. All in all I am happy with RE but also ready to go back to a career I enjoy (knowing that it will be short lived-OMY X 2). Thanks for everyone's support. FIRE, changing the definition as we go.

Sounds like a well-thought-out plan.

You may find that your ability to tolerate corporate BS has significantly atrophied over the last few months...

[bolt]

Some people like to work! Getting "considered" at 50yrs old for a new line of work paying 6 figures sounds like a unique situation. Good luck!

[Golden sunsets]

How does one "get back to military aviation" in the private sector?

[Bigdawg]

Quote:

Originally Posted by Golden sunsets How does one "get back to military aviation" in the private sector?

I retired from active duty 2 years ago. Military aviation is supported in large part by government contractors. That's what I am doing. Directly supporting military aviation as a government contractor. Solid company. Beni's are Decent. 50% match on 6% for 401K. Don't need much on the beni side after military pension and Tricare medical.

Into week 5. So far so good. As promised one week of travel per month. DW and I have already paid off 2 forms of debt and yearly taxes and fees on 2 properties. The 8 months off and 5 weeks back have propelled our retirement plans significantly. DW turns 44 in November and this has been a good wake up call.

[Bigdawg]

Quote:

Originally Posted by bolt Some people like to work! Getting "considered" at 50yrs old for a new line of work paying 6 figures sounds like a unique situation. Good luck!

Not really a new line of work. My jack of all trades, master of a few career in military aviation qualifies me for numerous career paths. Program Management. Project management, Logistics, aircraft maintenance/management, test and evaluation, etc... Most of these areas appreciate experienced workers.

[unclemick]

Quote:

Originally Posted by Bigdawg DW and I became FI when we each retired from the military and began receiving our pensions. Unless, of course, our expenses outgrow those pensions. That hasn't happened yet. I added the RE in January of this year. It has been a fun 7 months. One goal was to get the young DW interested and involved in RE issues. That has been accomplished. The first 3-4 months of RE for me was covered by umpiring baseball, officiating volleyball matches and working on the honey do list. The past three months I have found myself yearning to get back into military aviation. I turn 50 in the fall and the plan is to complete OMY probably twice. I guess that would make it TMY's. The two year plan is to clean up all of the other areas of FIRE other than the pension portion. Wills, trusts, insurance, finalize investments and clean up the real estate trail I have left across the country. I do consider my FIRE a success. On an individual basis that is. But, for those of us with DW's (or DH's), we know it takes two to tango. Had a great 6 fig job interview today and I have two 6 figure contingency offers already signed. I expect to be starting something soon.

Double dippers - that's what we called them back in the day. One of my friend's was a triple - Navy pension, Apollo contracter and Space Shuttle.

heh heh heh - it can be fun/interesting if one is flexible on location and assignments.

[Jay_Gatsby]

Quote:

Originally Posted by unclemick Double dippers - that's what we called them back in the day. One of my friend's was a triple - Navy pension, Apollo contracter and Space Shuttle. heh heh heh - it can be fun/interesting if one is flexible on location and assignments.

If your kids are grown (and they usually are by that point), you could *almost* look at assignment locations as a "vacation." Yes, you're still working, but you're doing so in a new location with lots to explore. At the same time, you're renting (paid for by the company) or living in company housing, and your contract may be 3, 6, 9 or 12 months, so you're not stuck if you don't like the location.

[Bigdawg]

Update: Job has evolved. Had to move to the prime contractor 2.5 years ago to stay in my position. Not a bad decision. Came with a 5% raise. 2 years ago I throttled down to 32 hrs/wk. Make more at 32 than I made at 40 when I started. The prime lost the contract so 30 June is my last day. A check for 5 weeks vacation and 13 weeks severance awaits me. New contractor is reportedly axing 2-3% of the employees and offering 85 cents on the dollar. I have a company waiting in the wings for me to be a closer. They have numerous government contracts that are coming to an end. They want me to come in and be the logistics/program manager/aviation SME/project mngr/systems eng/etc... for the end of contracts. Most would be 6-9 months at a time. Thinking about it. We'll see how the summer goes.

Sold San Diego house three years ago. Sold townhouse on the golf course 4 years ago on a contract for deed (15 yr contract). Buyer is ready to pay me off in June. Tore down and built this new house 2 years ago. DD returned from one year Australia internship then grad school at Trinity in Dublin 2 years ago. She has great job as a beltway bandit with big defense contractor. DS is a government aviation tech rep in San Diego. DW at 49 loves her job as a government maint officer (manager) of the Navy's unmanned test squadron. She is 9 years into earning her second pension. She can collect at 62. Nest egg not huge at 700K. Doesn't need to be with mutiple pensions. COVID reduced my sports officiating last year but so far 2021 is running strong. Averaging 4 games per week umpiring. On pace for about 12k this year sports officiating. Hit St Croix in February. Roatan planned for SCUBA in September. St Croix again in November for the USMC birthday celebration with friends.

[Golden sunsets]

Cool. Guess you did 6 more OMY's, rather than 2 and it looks like more to come.

[teej1985]

Quote:

Originally Posted by Bigdawg Update: Job has evolved. Had to move to the prime contractor 2.5 years ago to stay in my position. Not a bad decision. Came with a 5% raise. 2 years ago I throttled down to 32 hrs/wk. Make more at 32 than I made at 40 when I started. The prime lost the contract so 30 June is my last day. A check for 5 weeks vacation and 13 weeks severance awaits me. New contractor is reportedly axing 2-3% of the employees and offering 85 cents on the dollar. I have a company waiting in the wings for me to be a closer. They have numerous government contracts that are coming to an end. They want me to come in and be the logistics/program manager/aviation SME/project mngr/systems eng/etc... for the end of contracts. Most would be 6-9 months at a time. Thinking about it. We'll see how the summer goes. Sold San Diego house three years ago. Sold townhouse on the golf course 4 years ago on a contract for deed (15 yr contract). Buyer is ready to pay me off in June. Tore down and built this new house 2 years ago. DD returned from one year Australia internship then grad school at Trinity in Dublin 2 years ago. She has great job as a beltway bandit with big defense contractor. DS is a government aviation tech rep in San Diego. DW at 49 loves her job as a government maint officer (manager) of the Navy's unmanned test squadron. She is 9 years into earning her second pension. She can collect at 62. Nest egg not huge at 700K. Doesn't need to be with mutiple pensions. COVID reduced my sports officiating last year but so far 2021 is running strong. Averaging 4 games per week umpiring. On pace for about 12k this year sports officiating. Hit St Croix in February. Roatan planned for SCUBA in September. St Croix again in November for the USMC birthday celebration with friends.

You said only two more years! What happened?

[ERhoosier]

Sounds like a busy FI (RE).

Congrats!

[Bigdawg]

Quote:

Originally Posted by teej1985 You said only two more years! What happened?

Guilty. Sort of. DW still works. I work (if you want to call it that) from home. No politics, no commute, no office b.s., A busy week is 20 hours. A slow week is 5-6. Still get paid for 32 no matter what. Work? if you want to call it that. From some peoples posts it sounds like they work harder on their excel spreadsheets than I do at my actual job. The job interferes with nothing that I want to do. I work in the yard for an hour, then come in and check emails for 30 minutes, then back outside or throw in some laundry etc... Even though I have been updating DW via quarterly power points showing our $$'s, she is not ready to stop working. I'm curious to see how the rest of 2021 plays out.