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Old 01-24-2021, 08:37 AM   #21
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Detailed elsewhere, I waited about 7 years as I was enjoying my j*b. The day I no longer enjoyed it (because my assignment was changed), I pulled the plug.

I always advise to be flexible and have back up plans - just in case your number isn't quite right when you retire. What would you be willing to "give up?" Some travel? Nights outs on the town? The vacation condo? A hobby? Be sure you know what is "non-negotiable" within your retirement life and then be sure your number will handle THAT - no matter what. So, if flexibility isn't in your plan, you may want to stay longer. If you're flexible, your number may well support you even if it's under strain from time to time. Good luck. As always, YMMV.
This is good advice and perspective, thanks.

I suspect I'm in a similar situation. My j*b assignment recently changed, which made it better than the toxic environment of my previous organization.
Now, I could stay as long as it remains a healthy work-life balance.

We are young (in terms of FIRE), 43 & 45. We are at our mid-target and could retire now with a reduced lifestyle. I know I want more to spend in retirement, and if we can get it, great; if not then that's okay too. Based on current projections, we should hit our target in 3 years. Once I'm comfortably above that target, I'll make the move. The next big question for me is - move to what? That's a good problem to have though...
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Old 01-24-2021, 09:19 AM   #22
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Watch the news....people die in their 60's and 70's. And even if you make it to your 80's, how much money do you need to sit and watch tv all day.

Start enjoying your life now and do the things you want to do, while you still have your health....stop worrying about nickels and dimes.

PS ...I cashed out at 52.
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Old 01-25-2021, 02:07 PM   #23
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Watch the news....people die in their 60's and 70's. And even if you make it to your 80's, how much money do you need to sit and watch tv all day.

Start enjoying your life now and do the things you want to do, while you still have your health....stop worrying about nickels and dimes.

PS ...I cashed out at 52.
EXCELLENT advice.

Really, do you want to be the richest person in the care home? Sitting in your chair wishing you had done all of the things you dreamed of when you had the health and the strength to do it.

I went at 58/59. Should have gone earlier. Wish I had gone earlier. We travel for for 4-5 month a year. We have prioritized our spending. For us experiences trump things all day long. Got rid of a lot of things that tied us down.

We do not bother with all that business of adding up what we spend on paper napkins each year or anything else. Absolutely no point to it. If napkins go up by 30 points YOY we are hardly going to cut back. Same for everything else.
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Old 01-25-2021, 02:12 PM   #24
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Originally Posted by retire202052 View Post
Watch the news....people die in their 60's and 70's. And even if you make it to your 80's, how much money do you need to sit and watch tv all day.

Start enjoying your life now and do the things you want to do, while you still have your health....stop worrying about nickels and dimes.

PS ...I cashed out at 52.
Nice post. You can't take it with you when you go. Each of us has to figure out for ourselves how much we value time over money. None of us by any means can know how much time on Earth we have , but we still must make a choice. I left way earlier than I had planned. I left the workforce at age 46. It's been mostly smooth sailing with a few scary moments but they were just mostly blips and when I look back on what I have now in life compared to when I was a working slave, my time now is priceless.
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Old 01-25-2021, 03:02 PM   #25
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When I FIRED at 58/59 one of my colleagues also said he was going to retire. It was always one more year with him, some more money in his retirement portfolio. One more year turned into four more years.

He had lots of retirement plans that included taking his children and grandchildren on a cruise. He finally did retire at 63/64. He dropped dead six months later.
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Old 01-26-2021, 05:51 AM   #26
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I had enough in my investments in 2018 to fire. , it has almost doubled since I retired in 2018. When I left Mega Corp, it was because my father had a terminal illness and I had the rewarding opportunity to be his caregiver in his last six months. I would never consider having him being in a nursing home. After he passed and my portfolio kept increasing in value I am content in not returning to work. Currently I am taking care of my mom.
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Old 01-26-2021, 10:03 AM   #27
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It is also a date for me. I am 52, but my DH is turning 65 toward the end of the year. He retired a few years ago; I'm retiring when he can switch from my insurance to Medicare. I was going to go earlier, but with 100% telework, and the fact that we can't really travel yet, I figure I might as well wait a few extra months.

But, then I am gone. DH is extremely healthy, but....you never know. We are going to enjoy our time together sooner rather than later.
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Old 01-26-2021, 10:45 AM   #28
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Originally Posted by brett View Post
When I FIRED at 58/59 one of my colleagues also said he was going to retire. It was always one more year with him, some more money in his retirement portfolio. One more year turned into four more years.

He had lots of retirement plans that included taking his children and grandchildren on a cruise. He finally did retire at 63/64. He dropped dead six months later.
There are a lot of those scenarios retire and die shortly after. It is amazing how many people I know in the last few years that have died under the age of 70. I would have to sit down and and count them but if I remember it was around 35 people in just a couple of years.

Absolutely, no time to waste.
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Old 01-26-2021, 11:24 AM   #29
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good thread. I'm struggling with this now. I was over my number probably about 24 months ago, now comfortably over, but those dang RSUs are staring at me in the next couple of quarters.

I don't know what I'd do with my day, but sitting at a desk typing and being on conference calls all day isn't it.

I think I have 35 more Mondays...
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Old 01-26-2021, 12:21 PM   #30
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There are a lot of those scenarios retire and die shortly after. It is amazing how many people I know in the last few years that have died under the age of 70. I would have to sit down and and count them but if I remember it was around 35 people in just a couple of years.

Absolutely, no time to waste.
Yes. 2020 has been a horrible year for losing friends even outside of Covid. I lost a couple employees, one to lingering health issues at 38 and another to cancer, 49, within 6 months. The 2nd was especially hard since the cancer came out of nowhere, a great person.

Not retired myself but we reached FI a couple years ago. I have similar thoughts that since I have been working from home now 100% for almost a year I think I am going to ride out this 'work from home' until a date is set on going back into the office and retire then.

We are with Vanguard and in one of my latest 'free' consultations my rep. did a complete 180 with the usual Vanguard 'speak' and shared a graph that was outside of their system, I was shocked since over the years they seem to speak this expected generic formula that was textbook. In short he shared a site, https://engaging-data.com/will-money-last-retire-early/ that highlights a simple monte carlo simulation with death rates.. An eye opening experience for sure that really provided a dose of reality.
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Old 01-26-2021, 01:20 PM   #31
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Originally Posted by retire202052 View Post
Watch the news....people die in their 60's and 70's. And even if you make it to your 80's, how much money do you need to sit and watch tv all day.

Start enjoying your life now and do the things you want to do, while you still have your health....stop worrying about nickels and dimes.

PS ...I cashed out at 52.
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Originally Posted by brett View Post
EXCELLENT advice.

Really, do you want to be the richest person in the care home? Sitting in your chair wishing you had done all of the things you dreamed of when you had the health and the strength to do it.
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Nice post. You can't take it with you when you go. Each of us has to figure out for ourselves how much we value time over money. None of us by any means can know how much time on Earth we have , but we still must make a choice.
NOT good advice unless you’re in poor health already IMO. Odds are you won’t die young, so you’d better plan on what’s most likely, for most that’s a good long life. If you run into high medical expenses and/or long term care it could cost a fortune to “sit and watch TV all day.”

Anyone who tells you they wish they would have retired earlier - I’d take it with a grain of salt unless they’ve been retired for a good long time, like 20 years. None of us can know that until we go poof, and the money hasn’t run out. It is a careful balance between time vs money as the last post notes.
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Old 01-26-2021, 01:38 PM   #32
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Did you see the excellent breakdown at EarlyRetirementNow.com called "The Effect of One More Year -SWR series part 42"? Karsten showed that you gain a lot of buffer very quickly once you are near your number, so you may gain a lot of peace of mind later to put up with a little bit more w*rk now.
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Old 01-26-2021, 02:21 PM   #33
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Did you see the excellent breakdown at EarlyRetirementNow.com called "The Effect of One More Year -SWR series part 42"? Karsten showed that you gain a lot of buffer very quickly once you are near your number, so you may gain a lot of peace of mind later to put up with a little bit more w*rk now.
I took a quick look here: https://earlyretirementnow.com/2021/...eries-part-42/

Honestly, not interested enough to follow the math, but I suppose the premise is reasonably sound. Realistically, you stay one more year and build your nest egg while lopping off one year of life at the end. It would have to work, right? The author pointed out that OMY should be more effective than going back to w*rk in a pinch. Fair enough. You're unlikely to earn as much going back as you would during OMY.

I skimmed and then read the conclusion. What jumped out at me was the author's take on the trade off of a greater stash vs "...while working in a cushy corporate job..." Apparently, that was the author's situation. Related here previously, I sort of fit that description for a few years (was actually having fun - until I wasn't.) I'm guessing a lot of folks who have responded to this thread did NOT fit that description of w*rk situation. Hence, many have advised getting out as soon as possible.

It really IS a personal decision when to pull the plug. It's based on your financial situation, your willingness to be flexible if ER goes south, a bit of luck, and some intangibles as well. All in all, it's still YMMV.
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Old 01-26-2021, 03:35 PM   #34
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good thread. I'm struggling with this now. I was over my number probably about 24 months ago, now comfortably over, but those dang RSUs are staring at me in the next couple of quarters.

I don't know what I'd do with my day, but sitting at a desk typing and being on conference calls all day isn't it.

I think I have 35 more Mondays...
If you were "good to go 24 months ago" then I would say you have 35 too many Mondays.
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Old 01-26-2021, 09:30 PM   #35
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When to call it quit ... when you work from home because of COVID for more than a year, and one day have been asked by your boss to get back to office
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Old 01-27-2021, 07:52 AM   #36
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We called it quits twice. First in 2011 for 3 years in Mexico. My second time is a hybrid approach. I was 48 & felt we were "there". DW has reservations & works from home for corporate insurance. She likes her job most days.

I had left a job that was failing to a big corporation. Was not my cup of tea. Decided to remodel the house myself (instead of trading my earnings for the contractors) and then honing my skills in what I really enjoyed. Building furniture and refacing kitchens have become my part-time gig & DW is now on board with the decision.

We're in our medium # for savings and appx 25% above our spending if we did 3.5% WR. Every year we'll grow another 3-4 years of expenses until DW is comfortable with leaving. In the mean time, I'll do what I enjoy doing and meeting many people in the community along the way. I'm 50 & waiting...
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Old 01-27-2021, 08:08 AM   #37
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NOT good advice unless you’re in poor health already IMO. Odds are you won’t die young, so you’d better plan on what’s most likely, for most that’s a good long life. If you run into high medical expenses and/or long term care it could cost a fortune to “sit and watch TV all day.”

Anyone who tells you they wish they would have retired earlier - I’d take it with a grain of salt unless they’ve been retired for a good long time, like 20 years. None of us can know that until we go poof, and the money hasn’t run out. It is a careful balance between time vs money as the last post notes.

Sorry, I'm not going to work 5 more years, when I'm healthy, so I'll have enough money to pay for possible medical bills when I'm 85
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Old 01-27-2021, 10:00 AM   #38
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I’m planning to quit at the end of September. I’ll be 54 and will have enough and then some. It’s been a real struggle getting to this place because I fought hard for success and won the game.

Now the game is a bad habit I haven’t been able to give up, but a couple weeks ago my doctor started treating me for high blood pressure. Clearly what I’m “winning” at now is bad for my health. First actual health problem in my 53 short years.

Since that happened October 1st looks like a treacherously long road ahead and I’m considering moving up the date.

One last thing: leaving a career doesn’t mean never earning money again. Maybe not the same kind of money, but having the flexibility to earn as a stop gap makes not running out of money less likely.
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Old 01-29-2021, 06:25 PM   #39
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Sometimes the number is "never enough" until it is more than enough. Sounds confused but in my case I set a target. Hit the number and was ready to start the process of exit and got promoted ..... this went this way for about eight years (with more and more corporate demands the last four) and in the ensuing time we paid off the house paid off the kids college bills, replaced both cars and bought toys. Finally, work helped me do what I should have done much earlier - My management level was higher than I ever expected and work made future advancement contingent on my moving my family across country, IMMEDIATELY. I said wasn't going to happen - they pressed anyway. As I continued to do my job we put away ALL annual incentives and LTI's and the market and compounding did the rest. As payment for my "insubordination" they low balled me on my performance review even thought my portfolio of programs was one of the highest performers. After the review I told boss, Im done, I gave four months notices for an orderly transition. A week later boss came back with a revised PR which changed the multipliers on LTI and annual incentive bonus. He asked if I would stay another 12-18 months and I said no but appreciated the additional retirement funds. Final incentives resulted in us having high seven figure in savings and a six figure pension for life including insurance. The push made me realize we would retire with enough money to pay all bills, travel all over the world (couple of big trips a year) and still be in the position to save each year . Held my retirement date and have smiled every time I think of it. Our only worry now is how to handle the MD on the 401K's. If you think that you are there you have probably already saved too much like us. Sit down with a CFP and just listen to what they have to say - it was worth the $500 to us and affirmed we had done the right things
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Old 01-29-2021, 06:55 PM   #40
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Check out my name. At some point nest egg and BS had both gone up to where it was clear. Felt like big decision at moment. So far so good.
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