I'm 10% Retired as of Today

[travelover]

Great news, Rich. I think this will significantly add to your quality of life.

For me, happiness is having something good to look forward to. You'll have those 5 day weekends every month.

[Ronstar]

Great news! Easing into retirement seems better than quitting cold turkey for those that still enjoy working, but to a lesser extent. Once your boss sees how well the 90% plan works, hopefully he should be more agreeable when the plan for the phase II reduction kicks in.

[cardude]

Congrats Rich on the partial retirement. I had been trying to get away from my job/business for about 4 years with no success, but now I think I am finally going to be able to do it, so I know first hand how hard it is to change direction.

I'm self employed, and the business has generated a nice income for our family for years (and still does actually), and 90% of those I confided in looked at me crazy when I said I wanted out. The business used to be a joy every day, but now I dread going to work and as a result my performance has suffered and my attitude outside of work has been bad. I have tried in the past to arrange the business so it would run without me being there every day, but with no success, so I've finally found a buyer for the business so I can clear my head and look at other opportunities IF I WANT TO.

Do you still enjoy your work?

[fisherman]

Good plan and good priorities. Enjoy the time with your grandkids. Grandparents can influence the kids more than the parents through time and teaching by example and you will be great at it!

How is the weather and fishing in Tampa during late March and early April? We will be there for two weeks on vacation then.

[Moemg]

Congratulations and enjoy those grandchildren !

[Rich_by_the_Bay]

Quote:

Originally Posted by cardude Congrats Rich on the partial retirement...Do you still enjoy your work?

Yes, and that's a part of my "problem." Just maybe not quite so much of it .

[Rich_by_the_Bay]

Quote:

Originally Posted by fisherman How is the weather and fishing in Tampa during late March and early April? We will be there for two weeks on vacation then.

Mid-to high 70s days, around 60 in the evenings, usually clear. Just about perfect for months on end, I'd say.

Not a fisherman, but there sure are a lot out there these days... C'mon down - it's gorgeous.

[Meadbh]

Congratulations Rich!
What you need to do now is to LEAVE TOWN during those long weekends. After all, that's what the RV is for! Make sure you "forget" to charge the cellphone, and do NOT check your email.

Several years back I negotiated a 0.7 position, and booked myself for regular personal getaways. It has definitely helped to keep me sane. I probably put in 1.0 full time equivalents, but otherwise it would have been 2.0.

[Rich_by_the_Bay]

Quote:

Originally Posted by Meadbh Congratulations Rich! What you need to do now is to LEAVE TOWN during those long weekends. After all, that's what the RV is for! Make sure you "forget" to charge the cellphone, and do NOT check your email. Several years back I negotiated a 0.7 position, and booked myself for regular personal getaways. It has definitely helped to keep me sane. I probably put in 1.0 full time equivalents, but otherwise it would have been 2.0.

Cell phone? What cell phone?

Hmm... .7 sounds even better .

[chinaco]

Congrats Rich.

[Dawg52]

Quote:

Originally Posted by Rich_in_Tampa Yes, and that's a part of my "problem." Just maybe not quite so much of it .

Well you are lucky. I made pretty decent money but hated the work. If I were in your shoes and able to slowly cut back the schedule overtime, I would continue on for a few more years. But you may also find more things you enjoy doing as you have more leisure time, resulting in a desire to fully retire. Time will tell.

[Eagle43]

Congratulations, Rich. Doctors have always amazed me by the long hours they put in. Twelve hour days seem to be the norm. So, anything you can carve out has got to be good for your sanity, and for your patients, and especially those grandkids. So this 10% seems to be a good prescription with a favorable prognosis in sight.

[Sandy]

Congratulations Rich. Just keep chipping away. Enjoy the family and the extra time. Be sure to take it.

[Nords]

Quote:

Originally Posted by Rich_in_Tampa Hey, have some fatih, man . It's only 2 or 3 days a month, and I definitely know where I won't be.

Congratulations, Rich, although I must admit that you've elevated "just one more year" to an art form. If ER was a cow then you'd be knee-deep in milk.

So, 10% retirement this year, and who knows where this wild-eyed partying devil-may-care attitude will lead next. Is this part of a "10% per year" plan that'll reach its inevitable conclusion in just nine more years? Are you sneaking a surprise on management that they'll never see coming, no matter how much more money they throw at you?

Heck, even if you just keep chipping away at 10% chunks of the declining balance you'll get close enough to ER for all practical purposes...

[Rich_by_the_Bay]

Quote:

Originally Posted by Nords Congratulations, Rich, although I must admit that you've elevated "just one more year" to an art form. If ER was a cow then you'd be knee-deep in milk. So, 10% retirement this year, and who knows where this wild-eyed partying devil-may-care attitude will lead next. Is this part of a "10% per year" plan that'll reach its inevitable conclusion in just nine more years? Are you sneaking a surprise on management that they'll never see coming, no matter how much more money they throw at you? Heck, even if you just keep chipping away at 10% chunks of the declining balance you'll get close enough to ER for all practical purposes...

You guys are killing me.

There aren't too many on this board (or elsewhere for that matter) who have (or had) a passion for their work, so it's kind of hard to explain. Maybe some of my occasional work-related anecdotes paint the picture, maybe not.

In any case, my seemingly modest little request has the joint all atwitter. It's kind of nice that I got a raise at the same time as a reduction in FTE. If that graph holds up, in a few years I'll be making 7 figures a year for working 15 minutes a week. But I'll work really hard those 15 minutes.

Depending on "the street" I should meet my savings goals within a year or so. That will be the real test of what I want to do deep down.

[REWahoo]

Quote:

Originally Posted by Rich_in_Tampa Depending on "the street" I should meet my savings goals within a year or so. That will be the real test of what I want to do deep down.

Maybe we should take a poll.

When Rich reaches FI, he will:
A. Retire
B. Semi-retire
C. Determine he's not absolutely, positively sure he's really reached FI and decide he needs "just one more year"

I know how I'm voting...

[Meadbh]

Quote:

Originally Posted by Rich_in_Tampa In any case, my seemingly modest little request has the joint all atwitter. It's kind of nice that I got a raise at the same time as a reduction in FTE. If that graph holds up, in a few years I'll be making 7 figures a year for working 15 minutes a week. But I'll work really hard those 15 minutes.

Yabbut.....what would you do if they offered you 0.5 full time, for 0.5 the earnings?

I see conflicting incentives here. On the one hand, you "nominally" get to "gasp" work 0.9 full time. OTOH, your employers value your input so much that they are paying you more for it. Conclusion: they don't want you to go. Dr. Meadbh can see inside Rich's head and my conclusion is that you don't want to go either.

Dr. Meadbh is reserving judgment till I see you making a change that hits you in the wallet!

[Meadbh]

Quote:

Originally Posted by REWahoo Maybe we should take a poll. When Rich reaches FI, he will: A. Retire B. Semi-retire C. Determine he's not absolutely, positively sure he's really reached FI and decide he needs "just one more year" I know how I'm voting...

Definitely C.

[Rich_by_the_Bay]

Quote:

Originally Posted by Meadbh Dr. Meadbh is reserving judgment till I see you making a change that hits you in the wallet!

Now, why would I want to go and do a thing like that ? It's only fair that I get paid to cut back, don't ya think?

[Gotadimple]

Quote:

Originally Posted by Rich_in_Tampa Now, why would I want to go and do a thing like that ? It's only fair that I get paid to cut back, don't ya think?

Absolutely! If the resource is valuable, then it should come at a premium price (isn't that what happens in the stock market?).

I think the incremental increase in income just provides more $ for the R_I_TRF. (Rich in Tampa Retirement Fund). And when the $ is at the right level, your entire attitude will morph and you'll begin the search for what's most valuable for the next stage.

As for the halls all 'atwitter.' Been there -- this week as a matter of fact!

Good for you Rich! The whole thing is an adventure.

--Rita