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Old 07-18-2021, 06:04 PM   #81
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Originally Posted by Kook View Post
My job has pretty much been who I am for the past 30 years……..so I will need to venture out socially in our community.

Abundant ER Forum threads indicate that most work relationships don’t really withstand the change to post-career. Sooner or later, you’ll need new friends (we all do) so you have the opportunity to get a jump on things and dive into the next phase. You’ll certainly finally have more time for it!
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Old 07-18-2021, 11:02 PM   #82
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Yes. It is a hard decision, but
your DW has to be fully on board, or else it will not work out.
I (and my DW) worked in the oil & gas industry. We realized the ups and downs and had vowed to work as long as possible (until normal retirement age), but that went out the window in the downturn of 2015-2016. So, we retired early (not really by choice)! The first few months were a little stressful, shifting from accumulation to consumption and getting the income stream set up to our satisfaction.
I would suggest reading retirement blogs and sketching out your plans before actually pulling the trigger. I had actually started my income stream process a year before my forced retirement. Once I was free of my job, I transferred my 401K to a self directed IRA and was able to further my income producing goals (dividend kings). My dividend income, just from my brokerage accounts now covers 100%+ of my yearly spending. The IRA accounts are icing!
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Old 07-18-2021, 11:27 PM   #83
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Originally Posted by Kook View Post
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 can relate to that. We had a couple of small businesses prior to ER so there were always activities I could do to make more money. I still like my spreadsheets and improving our finances, but now I focus on trying to live better for less instead of earning more. The more self sufficient we can live, the lower our overhead, and the more money there is left over for savings or fun stuff.
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Old 07-19-2021, 10:13 AM   #84
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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!
+1. You are not alone! I also had a mental impasse for a while and wrote a post very similar to yours a few months ago. The input from folks here was very helpful, if you want to search the thread.

I think you're spot on in recognizing the finality of it.... it is the end of a life chapter, and it's normal to grieve the endings in our lives. And our society tends to equate earning power with worth and it can be hard to dissociate them, especially for men. But your worth as a person on the planet really comes from other things than how much money you pull in. One thing that helped me was identifying alternatives to the good parts of my w*rk so that I could replicate them by other means. Instead of transferable skills, identify transferable satisfactions and how you could find them.

The highlighted part of your post is really key. FWIW, six weeks into ER I am feeling that even more and wishing I'd pulled the trigger a couple of years ago!
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Old 07-19-2021, 02:00 PM   #85
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As an older friend of mine who's truly a well lived renaissance man said:

Life is like a roll of toilet paper. The closer you get to the end, the faster it goes.

It made me reconsider a few choices that's for sure.
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Old 07-19-2021, 02:12 PM   #86
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Originally Posted by pdxgal View Post
+1. You are not alone! I also had a mental impasse for a while and wrote a post very similar to yours a few months ago. The input from folks here was very helpful, if you want to search the thread.

I think you're spot on in recognizing the finality of it.... it is the end of a life chapter, and it's normal to grieve the endings in our lives. And our society tends to equate earning power with worth and it can be hard to dissociate them, especially for men. But your worth as a person on the planet really comes from other things than how much money you pull in. One thing that helped me was identifying alternatives to the good parts of my w*rk so that I could replicate them by other means. Instead of transferable skills, identify transferable satisfactions and how you could find them.

The highlighted part of your post is really key. FWIW, six weeks into ER I am feeling that even more and wishing I'd pulled the trigger a couple of years ago!
My turn to highlight part of your own post. Anyone needing encouragement or just dithering on retiring needs to read your post and many others sharing the same sentiment. Everyone, almost wishes they had pulled the plug on work sooner. Only a very few find they’re drawn back to work, probably too young to retire.

I’m going next May, but I know that at 62 1/2 when I go, it should have been sooner. I guess the restrictions have made it easier to carry on for a short while and part-time working.
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Old 07-19-2021, 02:30 PM   #87
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As obvious as it might be, the fact is that the longer you work, the shorter your retirement will be.
I went at 62 and should have retired at 60, as my father did.
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Old 07-22-2021, 10:32 AM   #88
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I'm not there yet, but getting close. My biggest worry is that if something goes wrong financially that I won't be able to get another job. Ageism is real and after a certain age (varying by industry) it will be harder to go back, if needed.
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Most are/were in the same boat
Old 07-22-2021, 01:04 PM   #89
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Most are/were in the same boat

Quote:
Originally Posted by patricel View Post
I'm not there yet, but getting close. My biggest worry is that if something goes wrong financially that I won't be able to get another job. Ageism is real and after a certain age (varying by industry) it will be harder to go back, if needed.
All of us that retired early or earlier than normal likely had the same thought. Just make sure you have a nice margin for error in your projected spend per year versus assets. I made sure I was nowhere close to the 4% that many utilize for a spend %; I was closer to 1.5-2%. And as your assets grow in retirement (and they will if you are well invested) that % will likely decrease if your spending doesn't ramp up a great deal. Bottom line is if you are comfortable with what you have banked, don't worry about it.
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