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Old 08-20-2017, 11:51 AM   #61
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I had lunch.
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Old 08-20-2017, 12:21 PM   #62
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Originally Posted by Closet_Gamer View Post
A few thoughts...

Regarding #2...perhaps "stress test" your portfolio. If your equity components dropped 20%, are you still FI? 30%? 40%? If so, I think you can safely set restriction #2 to the side. You could also adjust your AA to make an equity market correction (bust) less impactful.

On #3...given the state of things, that could be true when you FIRE and not true a year later. Seems like you should set that one aside and live life.

On #4, that seems inverted...if you're not healthy you may need/want to not work to focus on your health. If you are healthy, enjoy the FIRE.

Can't speak to #1...that's family stuff and the older I get the less inclined I am to offer advice on that front!
On #2, I just reached FI. In two years, I don't know where the market is going. If it is lowers, maybe I should keep working.
On #3, according to the current rule, I will be eligible for buying my current employer's group insurance for around $16,000 a year (the current year price) in two years.
On #4, this may deserve another thread. If I am not healthy, I have to hang on with a reliable health insurance plan, which is my employer's. Also, lots of benefits are associated with employment, i.e., term life insurance, disability insurance, etc. I am just basically FI, larger medical expenses might put me backwards from FI.
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Old 08-20-2017, 12:52 PM   #63
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Interesting thread and I'm in this transition right now. FIRE is just a few months away.

Job kind of sucks right now but it's mostly my ego that is suffering. I was moved under someone incompetent and I could have had that role but my early retirement plans have spread through the org. And I didn't take any proactive steps for the role. I didnt want it mostly do to what is truly required for the role to be successful as well as I've been positioning for a package. And I'm in a project /temporarily role that is not a permanent headcount.

Still working for some dude that is incompetent is something new for me.

I am more candid as others have said. I spend a lot time checking my retirement model for errors and sensitivity.

I also keep thinking that if I worked a few more years we could afford a kickass retirement house instead of going for just a nice place.

I guess the short of it is that I'm a little nervous for the next step of our lives.
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Old 08-20-2017, 01:19 PM   #64
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The first time I realized I was close to FI, my company was acquired. I saw a lot of good people panic and jump ship because they didn't want to risk being let go. I was 53 at the time, with enough resources that I knew I could survive a few months of unemployment if it happened, so I stayed. It worked out well and I stayed there for another 6 years. It was good to have the resources to allow me to take that chance.
Not to hijack this thread, but this is just the point I've been making to my kids.

IMO, saving is not just about getting ready for retirement. Saving has the added benefit of giving you the ability to choose; of being able to make a decision based on what's best for you or what you want to do, instead of being "driven" into a decision because you can't afford to go without a paycheck for any period of time.
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Old 08-20-2017, 02:25 PM   #65
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...working for some dude that is incompetent is something new for me.
You must lead a charmed life. I bet most people would say it's the norm.
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