When would you retire?
- Thread starter corn18
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All you need to know is when you're going to die, and how much longer you're willing to trade your life energy for money.
I'd suggest that the 4% SWR is the tripwire for "enough", and with Social Security (for Americans) insuring against portfolio failure.
You'd also have a good probability of spending the rest of your life with "more than enough".
Extra Medium
Recycles dryer sheets
Congratulations on your great news. I hope you enjoy an easy and quick recovery.
I’m inclined towards Fat Fire if w*rk is not painful, even more so if it’s at all fulfilling.
I’m planning to drop down stepwise, from 100-80-60% every few years as a long tail to my own career, as I enjoy helping people in my work, and to continue the health care train longer. Turn my regular j*b into my retirement j*b.
I’m inclined towards Fat Fire if w*rk is not painful, even more so if it’s at all fulfilling.
I’m planning to drop down stepwise, from 100-80-60% every few years as a long tail to my own career, as I enjoy helping people in my work, and to continue the health care train longer. Turn my regular j*b into my retirement j*b.
I did not base my retirement on just a net worth. I based it on when I would be covered by other health insurance (Tricare).
Yes, I am probably more paranoid than most but I have had two family members that had rare medical conditions and their care cost literally millions of dollars. I did not want to leave work and then find myself in a bind. Plus, I found my career field to be intellectually interesting.
So, as a result, when I finally decided to leave work, my finances were definitely "obese". I was able to spend more time with my mother before she passed away and visit an uncle before he passed without worrying about having to hurry home. Plus extend my visit when my grandson had to be rushed to the hospital for a few days stay. Working now on traveling more and ensuring all grandkids have a healthy 529 account so no loans will be needed (and maybe something left over for their kids, especially if they do the tech school route).
Yes, I am probably more paranoid than most but I have had two family members that had rare medical conditions and their care cost literally millions of dollars. I did not want to leave work and then find myself in a bind. Plus, I found my career field to be intellectually interesting.
So, as a result, when I finally decided to leave work, my finances were definitely "obese". I was able to spend more time with my mother before she passed away and visit an uncle before he passed without worrying about having to hurry home. Plus extend my visit when my grandson had to be rushed to the hospital for a few days stay. Working now on traveling more and ensuring all grandkids have a healthy 529 account so no loans will be needed (and maybe something left over for their kids, especially if they do the tech school route).
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Nice problem to have.
Similar situation I guess. I am 59 now and will retire in July just prior to my 60th. Padded (fat) annual expenses of 72K annually and we will have annual income of 110K COLA'd pensions +my SS at whenever I decide to take it. Just hit 1M in investments and 200K in cash. I should probably leave now but presently helping out DS with getting situated and then all should be fine.
Cassius King
Recycles dryer sheets
I find the number of votes for Fat and Obese FIRE interesting. With the number of retirees on this board that report, "I retired with X, and years later I now have 2X."
Seems like for the majority of retirees, they could have left earlier. In fact, more than a few have said exactly that.
Seems like for the majority of retirees, they could have left earlier. In fact, more than a few have said exactly that.
OP
OP
corn18
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So why did you post?
So glad to hear that no one will be fornicating with unicorns. Here's to your health (and mine).
I voted for FAT fire. There were plenty of times in my younger days where I was literally counting pennies and putting back a package or two of ramen noodles because I was a few cents short. I never want that feeling again. In fact, I do not even want to budget that close. If I need 6K for something I just round up to 10K to make sure I have enough. If I think 500K will be enough in the 401K I will wait until I have 700K in there. I am already there but the job at 32 hrs/wk pays too much and it is easy. Getting close though.
I voted for FAT fire. There were plenty of times in my younger days where I was literally counting pennies and putting back a package or two of ramen noodles because I was a few cents short. I never want that feeling again. In fact, I do not even want to budget that close. If I need 6K for something I just round up to 10K to make sure I have enough. If I think 500K will be enough in the 401K I will wait until I have 700K in there. I am already there but the job at 32 hrs/wk pays too much and it is easy. Getting close though.
Offgrid Organic Farmer
Full time employment: Posting here.
Doesn't that really depend on what a person invests in, and how that investment performs?
OP
OP
corn18
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Update from OP:
I talked to my boss and his boss today (both are good friends of mine). Determined that staying on through Mar 2021 would be the best thing for the business and myself. We did discuss severance and it is in line with what I expected (a metric boatload), so that is my retirement target date: Mar 2021. I'll be 55, have access to my 401k and be at the fat FIRE line. A lot can happen in a year.
I talked to my boss and his boss today (both are good friends of mine). Determined that staying on through Mar 2021 would be the best thing for the business and myself. We did discuss severance and it is in line with what I expected (a metric boatload), so that is my retirement target date: Mar 2021. I'll be 55, have access to my 401k and be at the fat FIRE line. A lot can happen in a year.
Out-to-Lunch
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Congrats. Keep it real for a year.Similar threads
