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Old 07-12-2021, 02:59 PM   #41
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Kook, I hear you, and I'm in the same boat. I am planning on pulling the trigger after upcoming bonus/RSUs, but I am definitely getting cold feet. I look around and think, well, it's not that bad. DW is 100% supportive, she wants to continue to work (meaning we'll have excellent healthcare)... it's just pulling the trigger that is super tough. I get the arguments (finite number of years, your best health is now), but it's difficult to actually do it.

That being said, I've had a countdown timer for almost a year now. it's amazing that it's now down to about 80 days until my last day. If I have the guts to do it.

I need encouragement like you. Technically I know it's the right thing. Emotionally it's not easy at all.
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Old 07-12-2021, 03:07 PM   #42
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As someone who fired on Friday I would say just do it. Holding on for a few more years isn't worth it and god forbid if something bad happens you'll kick yourself.

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Originally Posted by Kook View Post
I have been saving, saving, saving and living below my means for over 25 years. Now, at 57 (almost 58), I have accumulated 43x current spending and 30x projected spending, which includes health care and increased spending. DW is also bringing in anywhere from 60-100K per year in her job and she has no intention of giving it up just yet. Social Security also awaits.

For the past several years I have dreamed of having "enough" and quitting my high stress, high paying job. I have done OMY twice now.

I guess its the psychological aspect of being an accumulator and transitioning to the spending phase . I love accumulating - everything from money, hotel points, credit card points to pocket change. I have jars and jars of change.

I have my resignation letter ready and my corporate BS bucket is completely overflowing, but I am just having a hard time giving it up.


There is so much that I want to do and I know that I will never be as healthy, active and young as I am now and time is flying by. Yet....here I am.


Is it me? I know the time is right but what if its not? There is just such a finality to it because I will never make the same money once I resign. Anyone else have/ had this problem?

Man, is it tough!
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Old 07-12-2021, 10:13 PM   #43
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Kook,

In the past ~7 days, we have received the following news:

Our neighbor on the right side of our house fell and broke her hip - she has spinal issues and the prognosis is not looking good.

Our neighbor on the left side has got bad news - Cancer - and prognosis is not good.

My best friend from childhood just found out his wife has Colon Cancer. We all were in grade school and graduated high school together.

One of my men who worked for me nearly 25 years - just found his Mother in Law is ate up with Cancer and it is very grim.

I have been dancing with enlarged Prostate and high PSA numbers for years - my Dad had Prostate Cancer - so there's that.... And now looks like I have Kidney problems.....dam.....

I just retired effective 1-Feb-21.....

Like them 2 X Cartoons I posted above.....

Lifes A Dance And You Learn As You Go

gamboolman....
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Old 07-13-2021, 12:21 PM   #44
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Wow, gamboolman - sorry to hear all that. That's a lot of negative news for one week - too much. When it rains it pours. It's posts like yours that are really driving me to call it quits. You just never know what's around the corner.
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Old 07-13-2021, 03:05 PM   #45
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Good afternoon. This will be my first post on EarlyRetirement.org! Just signed up today...have been reading the many posts and replies but this one intrigues me regarding knowing when it is time to hang up the spikes. The most difficult part of this decision is not whether I can, as our financial advisor has told me for the last 3-4 years that I am only working because I want to. My original plan was 55 but then the pandemic hit and working remote... if I had to go into the office, not sure I would have made it. I will be 58 in 2 months...now my other dilemma is, do I stay 3 more years to 61 and receive a very nice subsidized retiree health option for my wife and I. I do have a substantial annual allocation to cover our health, dental, vision in our plan to cover the gap from now until Medicare kicks in and substantial amounts to cover any healthcare in the post medicare period. 3 years is a lot of time (Time >$)...I'm leaning for December 31, 2021 as my targeted last day...less than 6 months away...haven't said anything to anyone yet...not sure when I will. Wow! This is hard!
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Old 07-13-2021, 07:40 PM   #46
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Welcome to E-R!

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Originally Posted by DawgSavr View Post
now my other dilemma is, do I stay 3 more years to 61 and receive a very nice subsidized retiree health option
Evidently, only if you want to!
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The closing years of life are like the end of a masquerade party, when the masks are dropped. -Arthur Schopenhauer, philosopher (1788-1860)
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Old 07-13-2021, 07:46 PM   #47
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Quote:
Originally Posted by DawgSavr View Post
Good afternoon. This will be my first post on EarlyRetirement.org! Just signed up today...have been reading the many posts and replies but this one intrigues me regarding knowing when it is time to hang up the spikes. The most difficult part of this decision is not whether I can, as our financial advisor has told me for the last 3-4 years that I am only working because I want to. My original plan was 55 but then the pandemic hit and working remote... if I had to go into the office, not sure I would have made it. I will be 58 in 2 months...now my other dilemma is, do I stay 3 more years to 61 and receive a very nice subsidized retiree health option for my wife and I. I do have a substantial annual allocation to cover our health, dental, vision in our plan to cover the gap from now until Medicare kicks in and substantial amounts to cover any healthcare in the post medicare period. 3 years is a lot of time (Time >$)...I'm leaning for December 31, 2021 as my targeted last day...less than 6 months away...haven't said anything to anyone yet...not sure when I will. Wow! This is hard!
You can always find excuses for not retiring.
If your finance is solid, work is not fund, and you have something to do in retirement, there is no reason to hesitate.
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Old 07-13-2021, 07:48 PM   #48
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Kook,

I have been dancing with enlarged Prostate and high PSA numbers for years -

gamboolman....
I also have high PSA numbers for many years and is getting checked and tested every year.
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Old 07-16-2021, 09:58 AM   #49
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Hey Kook. did you pull the trigger this week?
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Old 07-16-2021, 02:32 PM   #50
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Hey Kook. did you pull the trigger this week?

I am almost ashamed to say that I did not. I just walked in the door from being at a conference all week and its all I could think about... yet time kind of got by me. I am going on vacation in 10 days and I am pretty sure that I decided to wait until I return and have had time to really come to grips. I am due a big bonus in September so I may try to time it around that. However, there will always be bonuses down the road and I cant let that be an excuse.


I think I am suffering from analysis by paralysis.....
Pulling the trigger is tough!
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Old 07-16-2021, 03:20 PM   #51
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haha...don't feel bad. I am in the same boat. Going on vacation in 3 weeks, and I'll have first week alone before my bride joins me for week 2. A lot of time to think... to friends and family I say "yeah, I'm planning to retire soon.. probably end of September... we'll see though... a few things to think through." I'm so dang wishy-washy. My plan is to come back from vacation convicted one way or the other (99% sure it's to retire).

And ditto - I have a bonus in September, and my plan is to wait until then to depart.

You're doing the right thing.
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Old 07-16-2021, 04:16 PM   #52
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Wife set THE date for my retirement, & that was that. Of course, when it was HER date to retire, it was like pulling teeth.


I ended up asking her executive assistant to please set up a retirement party, without telling my wife, until it was too late to change. That worked, & we're still laughing about it, two years later.
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Old 07-16-2021, 05:00 PM   #53
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Quote:
Originally Posted by Kook View Post
I have been saving, saving, saving and living below my means for over 25 years. Now, at 57 (almost 58), I have accumulated 43x current spending and 30x projected spending, which includes health care and increased spending. DW is also bringing in anywhere from 60-100K per year in her job and she has no intention of giving it up just yet. Social Security also awaits.

For the past several years I have dreamed of having "enough" and quitting my high stress, high paying job. I have done OMY twice now.

I guess its the psychological aspect of being an accumulator and transitioning to the spending phase . I love accumulating - everything from money, hotel points, credit card points to pocket change. I have jars and jars of change.

I have my resignation letter ready and my corporate BS bucket is completely overflowing, but I am just having a hard time giving it up.


There is so much that I want to do and I know that I will never be as healthy, active and young as I am now and time is flying by. Yet....here I am.


Is it me? I know the time is right but what if its not? There is just such a finality to it because I will never make the same money once I resign. Anyone else have/ had this problem?

Man, is it tough!
You have a great "problem." Wish DW and I were anywhere near 43x. Our goal is 25x (probably a pretty common goal). Reducing expenses is important when one of us wants Gucci this and Golden Goose that.
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Old 07-16-2021, 05:04 PM   #54
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It is a hard step, but once you take it you realize what is on the other side - freedom.
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Old 07-16-2021, 05:16 PM   #55
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We are the same age, but I have been retired for 13 years already. With dozens of layoffs, I never became a part of the system. I was on the outside, even when I was inside.

Your greater success has given you gold handcuffs, made change difficult.

This isn't a money problem. It's a psychological problem.
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Old 07-16-2021, 06:31 PM   #56
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I think a clear majority of active posters here went far past the time when they were good to go; in many cases with as much as 2x the required nut (if you believe the 4% guideline). Admittedly you probably want more of a margin if you are planning past 30 years.

In my case, it was about a 15% margin at 57, but the 4 years younger DW planned on working and then I was offered 1/2 time remote for 1/2 pay, so she fully retired first (and I was fine with that).
At 43x required spending, I suspect the real issue for you is figuring out what you want to do and how post-work will be meaningful for you; it gets even more complicated with spouse and kids/family. And that's pretty typical.
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Old 07-16-2021, 09:04 PM   #57
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Quote:
Originally Posted by Kook View Post
I have been saving, saving, saving and living below my means for over 25 years. Now, at 57 (almost 58), I have accumulated 43x current spending and 30x projected spending, which includes health care and increased spending. DW is also bringing in anywhere from 60-100K per year in her job and she has no intention of giving it up just yet. Social Security also awaits.

For the past several years I have dreamed of having "enough" and quitting my high stress, high paying job. I have done OMY twice now.

I guess its the psychological aspect of being an accumulator and transitioning to the spending phase . I love accumulating - everything from money, hotel points, credit card points to pocket change. I have jars and jars of change.

I have my resignation letter ready and my corporate BS bucket is completely overflowing, but I am just having a hard time giving it up.


There is so much that I want to do and I know that I will never be as healthy, active and young as I am now and time is flying by. Yet....here I am.


Is it me? I know the time is right but what if its not? There is just such a finality to it because I will never make the same money once I resign. Anyone else have/ had this problem?

Man, is it tough!
I get what you are feeling but have the confidence that you did your planning well. Honestly had my company not canned the whole IT department for contractors I probably would have went through the same thing. Officially ER'd at 53 and now two years into it like the song says loving every minute of it.
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Old 07-16-2021, 09:16 PM   #58
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I also have high PSA numbers for many years and is getting checked and tested every year.
Me also. Diagnosed with BPH in 2013. Recent eight week follow up PSA was 3.97. Previous in April was 3.75. Up to 4.00 is considered normal for my age group but given I'm 55 Doc says it's still a bit high normal for age. Primary Doc referred me to a urologist which a have an upcoming initial next week. What's scary is the only previous correct ways to diagnose was needle biopsy but that's now no longer consider the gold standard because a cancer can still be missed.

I'm reading that a MRI prostate is the best and of course less evasive and no risk of infection so I hope to go that route.
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Old 07-17-2021, 06:17 AM   #59
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I had been contemplating it since January. Iím 55 and have about the same. After having my resignation letter drafted for 3 weeks I gave it to my COO. One more week and Iíll now be consulting for my company at $200/hr on my terms.
Iím still in shock I did it but it was just too caustic.
Good luck finding your own path.
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Old 07-17-2021, 06:18 AM   #60
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Pulling the trigger was easy for me, but difficult for my DW. I had suspected our differing levels of anxiety were mostly caused by our differing levels of time spent on retirement planning. I was the one who created the spreadsheets, ran and re-ran the calculators, read everything I could find and tried to evaluate every possible scenario. We talked about everything, of course, but because she wasn't actively doing the research herself it made sense to me that she would be more nervous than I.

Now, seeing that Kook is a number-cruncher yet feels anxiety similar to DW, I agree that it appears to be more of a psychological issue.

Prior to submitting her resignation, DW fretted frequently about never being able to earn the same salary again. I'll likely never make the same salary again either, but that doesn't concern me one iota, simply because the plan doesn't require that either of us do. I'm plenty confident that I can find something where I could make much less if we find we need/want more money - and that will be fine. She still has difficulty comprehending that I not only wouldn't mind doing some "menial" job for less money, but that I might find a job like that even if we don't need/want extra money, just for the fun of it.

It now appears to me that she took greater pride in her achieved professional status than I previously realized, and so the thought of taking a much lower-status job (if worse came to worse) feels to her like failure. I, on the other hand, couldn't care less about my professional status - and so it was easier to give up whatever status I might have had, and it's easier for me to imagine taking a low-status job.
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