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Finally FIRED!
Old 06-23-2021, 05:09 AM   #1
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Finally FIRED!

Well, it happened: FIREd at 54.

Not exactly how I planned it, but in hindsight I was prevarocating so the fact that it was somewhat taken out of my control was perhaps not a bad thing!

In short, company restructure = "do you want us to look for a new role for you or take a settlement?". I didn't like the idea of moving country again (which the new role would have most likely entailed) so took the settlement plus negotiated a 3 year consultancy agreement that will keep me busy/interested for a couple of days a week and leave me free to do other things I want to do with the remaining time. Obviously much less money, but enough to keep me in beer and burgers, and the truth is that I had enough to retire some time ago so it was never going to be an issue financially. It was more about getting my head around it and the 'push' seems to have turned out to be a good thing.

So, after a couple of weeks of feeling a bit unsure, I find that I am really enjoying the extra time. Lots of art galleries, museums, online courses etc. to keep me occupied and so much more time to spend with family and friends.

Moral of the story: it's easy to give yourself reasons to stay that are really just based on fear of letting go of the familiar. My experience so far is though that the reality is much easier to handle than I had imagined.

Cheers!
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Old 06-23-2021, 05:32 AM   #2
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That is great and I wish you well in ER! Your quote below is so true.

Moral of the story: it's easy to give yourself reasons to stay that are really just based on fear of letting go of the familiar. My experience so far is though that the reality is much easier to handle than I had imagined.
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Old 06-23-2021, 07:08 AM   #3
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Congrats!! As a fellow prevaricator I have to say I'm a bit jealous. Also 54.

It's so good to hear your experience has been good. Enjoy!
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Old 06-23-2021, 12:22 PM   #4
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Congratulations! A three year consult part time work schedule is a nice way to enter retirement!
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Old 06-23-2021, 12:34 PM   #5
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Congrats! Retired at 54 myself. It was a good age to do it
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Old 06-23-2021, 01:01 PM   #6
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Congratulations. Have you signed the paperwork for the consultancy? I'd try to negotiate better terms, institutional knowledge can't be bought quickly and many younger people don't want to put in the time to learn it.

Quote:
Originally Posted by BritChap View Post
Well, it happened: FIREd at 54.

Not exactly how I planned it, but in hindsight I was prevarocating so the fact that it was somewhat taken out of my control was perhaps not a bad thing!

In short, company restructure = "do you want us to look for a new role for you or take a settlement?". I didn't like the idea of moving country again (which the new role would have most likely entailed) so took the settlement plus negotiated a 3 year consultancy agreement that will keep me busy/interested for a couple of days a week and leave me free to do other things I want to do with the remaining time. Obviously much less money, but enough to keep me in beer and burgers, and the truth is that I had enough to retire some time ago so it was never going to be an issue financially. It was more about getting my head around it and the 'push' seems to have turned out to be a good thing.

So, after a couple of weeks of feeling a bit unsure, I find that I am really enjoying the extra time. Lots of art galleries, museums, online courses etc. to keep me occupied and so much more time to spend with family and friends.

Moral of the story: it's easy to give yourself reasons to stay that are really just based on fear of letting go of the familiar. My experience so far is though that the reality is much easier to handle than I had imagined.

Cheers!
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Old 06-23-2021, 01:06 PM   #7
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Congratulations, OP!
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Old 06-24-2021, 01:15 AM   #8
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Congratulations on your retirement!

I also retired at age 54 when my three kids were then ages 7, 11, and 17. Wife had not worked since birth of our oldest child. So I spent my early retirement taking kids to school, picking them up, ferrying them around to music lessons, activities, friends houses, whatever. Wife enjoyed her newfound "time off" to relax a few hours a day! As a family, we did an Alaska cruise, took Empire Builder train to Chicago and drove rental car back to Oregon. Later with kids in college or off on their own, wife and I got to take some vacations by ourselves. Travelled to Greece, then later to Spain and Portugal. And a couple of cross country driving trips. Lots of very good memories were made.

So, back to when I retired 21 years ago, it took me about 20 minutes to adjust. I never looked back and never regretted it. I treasure all the time for my family and myself I gained by retiring when I did. And odd enough, financially, I am now at my highest income and asset level right now of my entire life.

Early retirement has given me lots of rewards.
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Old 06-24-2021, 09:14 AM   #9
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Yay! BritChap is in the club!!
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Old 06-24-2021, 09:46 AM   #10
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Congrats to you BritChap!

Quote:
Originally Posted by RetireeRobert View Post
Congratulations on your retirement!

I also retired at age 54 when my three kids were then ages 7, 11, and 17. Wife had not worked since birth of our oldest child. So I spent my early retirement taking kids to school, picking them up, ferrying them around to music lessons, activities, friends houses, whatever. Wife enjoyed her newfound "time off" to relax a few hours a day! As a family, we did an Alaska cruise, took Empire Builder train to Chicago and drove rental car back to Oregon. Later with kids in college or off on their own, wife and I got to take some vacations by ourselves. Travelled to Greece, then later to Spain and Portugal. And a couple of cross country driving trips. Lots of very good memories were made.

So, back to when I retired 21 years ago, it took me about 20 minutes to adjust. I never looked back and never regretted it. I treasure all the time for my family and myself I gained by retiring when I did. And odd enough, financially, I am now at my highest income and asset level right now of my entire life.

Early retirement has given me lots of rewards.
Retiree Robert,
I too have 3 kids. Oldest one off to college this coming Fall.
I'm FI but not RE, just wondering what your kids thought of your early retirement, and the effects it had on them both in the short-term and then over the long-term.
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Old 06-24-2021, 01:08 PM   #11
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Quote:
Originally Posted by HawkeyeNFO View Post
Congrats to you BritChap!



Retiree Robert,
I too have 3 kids. Oldest one off to college this coming Fall.
I'm FI but not RE, just wondering what your kids thought of your early retirement, and the effects it had on them both in the short-term and then over the long-term.
All three kids are debt free and thrifty. As to my early retirement, not sure they knew any better or thought all dads did that! They did like having me around as chaufeur. And they all live financially thrifty lifestyles, as my DW and I did, so maybe we were models for them. I got all three through college (two to post bachelor's level) with no student loans hanging around there necks (or mine), bought each a good late model low mileage used car (paid cash), and started each with a Roth IRA account and made their contributions for three or four years when they first got started earning.

I have tried to educate them about IRA's and funding them and investing. Son has picked it up the best, and now he often advises his two sisters. When DW passed, the kids inherited her tIRA accounts (saved Oregon estate taxes that way), so they are learning to deal with inherited RMDs as well so as to stretch out the tax deferred growth and learn investing. Those accounts of just large enough magnitude to make the RMD income noticeable and nice to have, but not big enough to enable quitting their jobs!

But back to your original question-----no, I do not think they knew all dads did not retire as early as I did!! They just thought it was normal.
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Old 06-24-2021, 07:14 PM   #12
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I also retired (at 55) with a slight push from my workplace. I made a complete break from any kind of work I adjusted after about 5 minutes. 10 years later - no regrets.
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Old 06-24-2021, 07:33 PM   #13
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Congrats. I also retired at 54 in Jan 2017. I *almost* made my goal of retiring at 55, but was RIF'ed from Megacorp and paid nicely to leave.... when I was going to anyway.

You are only now beginning to realize what retirement is like. Take your time, find your stride and WELCOME to the club!!!
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Old 06-29-2021, 03:54 PM   #14
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Quote:
Originally Posted by BritChap View Post
Well, it happened: FIREd at 54.

Not exactly how I planned it, but in hindsight I was prevarocating so the fact that it was somewhat taken out of my control was perhaps not a bad thing!

In short, company restructure = "do you want us to look for a new role for you or take a settlement?". I didn't like the idea of moving country again (which the new role would have most likely entailed) so took the settlement plus negotiated a 3 year consultancy agreement that will keep me busy/interested for a couple of days a week and leave me free to do other things I want to do with the remaining time. Obviously much less money, but enough to keep me in beer and burgers ,and the truth is that I had enough to retire some time ago so it was never going to be an issue financially. It was more about getting my head around it and the 'push' seems to have turned out to be a good thing.

So, after a couple of weeks of feeling a bit unsure, I find that I am really enjoying the extra time. Lots of art galleries, museums, online courses etc. to keep me occupied and so much more time to spend with family and friends.

Moral of the story: it's easy to give yourself reasons to stay that are really just based on fear of letting go of the familiar. My experience so far is though that the reality is much easier to handle than I had imagined.

Cheers!
...shouldn't that be "beer, bangers, and mash" ??
(you are in London, after all)

Is that due to Brexit related shift of company back to EU country? would there be any restrictions if you couldn't get into that country? or is it "work from home" type Zoom calls for your input?

and "welcome to the club"... as the newbie, you get to buy the beers for the rest of us. I'll take a Bass
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