Ready to launch, then chickened out...

[DawgMan]

Well, I just could not do it. The RE plan I implemented since my early 20's played out on paper above all my expectations. End of 2019, at age 55 was it... 2019 income was supersized, RE assets grew above my "number" thanks to Mr Market and real estate investments, and paid off the house... man, I was ready to go! BUT, I just cannot cut the cord yet. I feel like I am caught in a vortex! On one hand, I want to dive into the pool of freedom and just let the next chapter of life play out, but on the other hand, I have a job that has been very lucrative, generally enjoyable and very flexible that is not stopping me from really doing any travel/other things I would do in RE, and should be relatively profitable until the economy tanks so why not ride the wave until it crashes... it seems logical that I should ride it out, right? None the less, I didn't expect to feel this tension which frankly has me waking up each day asking the same question... "What do you want to do today?" I feel like Bill Murray in Ground Hog Day! I have spent my whole life "accomplishing", checking off daily to-do lists, moving the ball forward and the fear of not replacing this with something in RE has me somewhat paralyzed. I think this is less about OMY syndrome or even ego, but more about how to reprogram myself.

Anyone else walk up to edge of the pool and just stare at it?

 

[Mdlerth]

Everybody into the pool!

I, too, suffered from OMY. If you're not mentally ready, then you're not ready.

I don't think it's just about the $$. You can run calculators and spreadsheets till the cows come home. You can work toward a number, then blow past it and still not feel ready.

But my last day was New Year's Eve Eve, and now I'm done. Take courage and join us when you can.

 

[Lewis Clark]

If you like your work, and you have the flexibility to do the things you want to do while still working, there is nothing wrong with continuing to work. Financial independence is about doing whatever you want to do. If you want to work for a while longer then you should do so.

I've been a full time telecommuter for 15 years and have had that same flexibility, including travel. Most folks don't have options like this so enjoy it while you can.

You will know when you are ready to stop working, and when that time arrives you will have the freedom to stop. I reached my time and will be joining the ranks of the fully retired later this year.

 

[Delaney]

I had a spreadsheet that was counting down the days until I had saved enough to retire. It was very satisfying to open up the spreadsheet and to see the days to go get lower and lower. One day, I finally reached 0 days to go, but I chickened out and I didn't retire until a few years later. I didn't change the spreadsheet count down so it just turned into negative days and I felt it was kind of mocking me.

The truth was that I wasn't ready at that moment, but the fact that I could retire was huge. If you are content, stay where you are. Perhaps reevaluate every quarter.

 

[davebarnes]

I worked from home (since 1997) building websites so it was pleasant and very little bs.
I started to reduce my billing hours at age 67, but I definitely had OMY syndrome.
I worked until age 70.5. I hit our FU money number (FI was reached earlier) and so I fired my largest customer.

If you like working, then continue to do it.
Pay attention to structuring your income in retirement (pre age 65) so you can buy health insurance cheaply.

 

[DawgMan]

Thanks all! No question first world problems, but challenging none the less. Appreciate the advice/encouragement.

 

[pb4uski]

Well, I just could not do it. ....Anyone else walk up to edge of the pool and just stare at it?

You're killing us Dawg! IIRC you have one of the most comprehensive and well thought out retirement plans in the galaxy... and you are staring at the water?

How much TIME do you have left?

I know the feeling. At least in my case and likely yours, continuing to work is enriching the government and your heirs because right now you have all you need for an affluent and successful retirement. I ultimately decided that I'd rather have the freedom of retirement even though I liked my 50% job, colleagues, most clients, etc.

I am glad that you continue to like what you do and have a lot of flexibility.

But the water is fine. Jump in!

 

[RobbieB]

If you want to work, work.
If you don't want to work, don't work.
Easy.

 

[street]

^ yep it is really that simple. Have fun in what ever choice you make.

 

[MRG]

I did a couple OMY and planned one more. Another person showed me what was important.

 

[jollystomper]

... On one hand, I want to dive into the pool of freedom and just let the next chapter of life play out, but on the other hand, I have a job that has been very lucrative, generally enjoyable and very flexible that is not stopping me from really doing any travel/other things I would do in RE, and should be relatively profitable until the economy tanks so why not ride the wave until it crashes... it seems logical that I should ride it out, right?

I understand this feeling. When IO joined this community in 2012 the guidance I received here said that I had enough to retire. I was 54, but like you the above quote I extracted from your quote applied. So I went into OMY mode for the next 4 years. By then I still liked my job, and it was still paying what I thought was a "ridiculous" level of salary+bonuses. But both the desire to have even more of my time to myself, and knowing that the job I loved could still be taken by Megacorp at any time, led me to my "OMY Glide Path" (which I have a thread on here).

Ultimately for me, age 60 was when it all fell into place... a combination of still being healthy but with increasing odds of that changing at any moment, simulating living on our retirement budget and seeing we would be fine, working on a job project that I had to rescue and decided it would be great to go out "on top", and my DW's desire to have me around more all converged to make sense for me to retire.

In the 18 months since then, I have not missed the salary, I have not missed the job or the industry. I have received about a dozen job offers/interest but nothing that remotely interests me enough to be accountable to someone else's deadline.I just find it an incredible blessing to wake up every morning and choose what I want to do, without money or health being an issue. My DW is in ecstasy with me being around more.

My blabbering above is more easily summarized by saying I understand how you feel and do not feel bad about it. Things will converge for you in a way that it will work out for you. And even though the job and salary is great, once you do retire, if you have other things to keep you busy you will stop missing it a lot faster than you think.

 

[ckelly78z]

There is no shame in wanting to continue with what is comfortable, and enjoyable. I believe you will start dreading leaving the house in the morning, and start asking yourself ..Why ? When this happens, you will know it is time to pull the plug, and start a new adventure with the knowledge that you rode it out, and gave it your all.

 

[W2R]

None the less, I didn't expect to feel this tension which frankly has me waking up each day asking the same question... "What do you want to do today?" I feel like Bill Murray in Ground Hog Day! I have spent my whole life "accomplishing", checking off daily to-do lists, moving the ball forward and the fear of not replacing this with something in RE has me somewhat paralyzed. I think this is less about OMY syndrome or even ego, but more about how to reprogram myself.

Anyone else walk up to edge of the pool and just stare at it?

I felt a little bit "at sea" those first few days of retirement, too. What to do next? I had no clue what I wanted to do and felt blank and helpless. I desperately needed some structure in my day.

So, I decided that every day I would go to the gym for a couple of hours since I was pretty out of shape from working at a desk job for all of those years. I'd eat lunch out (by myself, since F wasn't retired yet). Then, I'd walk through a few shops in the strip mall across from where I used to work, just for the exercise, and then when I got tired and felt it was time I could drive home.

That worked for me. After a few weeks I got used to being retired and didn't need that much structure, but it sure helped in the beginning of retirement.

 

[donheff]

I don't see a down side if you enjoy your work. Gotta do something. A few extra years of savings just adds additional security to the plan. Kinda like having a paid off mortgage.

 

[Aerides]

I have a job that has been very lucrative, generally enjoyable and very flexible that is not stopping me from really doing any travel/other things I would do in RE...

Then no rush (but what does your spouse/partner say? are they held up waiting around for you?)

Other than that, as long as you don't have to give long notice, then you do you! But if you had some role that requires a long notice period, imagine every day of that being druggery...you might want to plod through that while things are still going well vs. in the midst of a downturn.

 

[Badger]

It doesn't sound like anything to lose sleep over. You are in a good financial situation, like the job you have, can leave anytime you want, have flexibility in your job, and can travel as you like.
Sounds to me you are in the cat bird seat.


Cheers!

 

[MarieIG]

So, your work is pleasant, the income is good, and the minute you want to retire - you can.

Sounds like a win-win situation to me.

 

[Rianne]

The "chickened out" scenario reminds me of us taking a $20K first class vacation. The numbers say we can safely do it. I just can't get myself to make the reservations.

 

[Chuckanut]

I just find it an incredible blessing to wake up every morning and choose what I want to do, without money or health being an issue.

+1

Control of one's time is a huge advantage. That and descent health open the doors to many options in life. I had several offers to do part-time teaching at the community colleges, but like my old grandpappy used to say, "I don't want commitments, I want options."

 

[Markola]

“Now, because I had been a football star, and a war hero, and a national celebrity, and a shrimpin' boat captain, and a college graduate, the city of fathers of Greenbow, Alabama, decided to get together and offered me a fine job. So, I never went back to work for Lieutenant Dan. Though he did take care of my Bubba Gump money. He got me invested in some kind of fruit company. And so then I got a call from him saying we don't have to worry about money no more and I said, "That's good. One less thing. "Now, Momma said there's only so much fortune a man really needsand the rest is just for showing off. So, I gave a whole bunch of it to the Four Square Gospel Church and I gave a whole bunch to the Bayou La Batre Fishing Hospital. And even though Bubba was dead, and Lieutenant Dan said I was nuts, I gave Bubba's mommy Bubba's share. And you know what? She didn't have to work in nobody's kitchen no more. And 'cause I was godzillionaire and I liked doing it so much, I cut that grass for free.”
Forrest Gump

 

[Franklin]

Dawg, no shame in delaying. I originally Fired at 51 with enough assets to pull it off but.....the recession took away my confidence in the numbers. So, I went back for another 10 years of earnings and that took me to FIRE at 62. It will work out and yes it takes some "getting use to". But I am nearly 2 years in and have not regretted a day. You got the dough so just wait till your heart says go. However, when u get the 8 figures in earning assets it will be time to let the Dawg out!!

 

[mystang52]

If you want to work, work.
If you don't want to work, don't work.
Easy.

+1 One doesn't retire, voluntarily, just for the sake of retirement. You seem to have the best of all worlds - financially independent so you do not have to work, you enjoy working, and you feel you have enough vacation time to do what you want. You don't need our "permission" to continue working. When you're ready to take the plunge, you'll know.

 

[pacergal]

Logical? Yes. Comfortable? Yes
But sometimes change requires a leap of faith to take us out of our comfort zone and realize that all will be well.
Can you take a sabbatical for several months and live on your retirement plan to ease into more comfort with that?
Only you can decide what is best for you.

 

[DawgMan]

Great comments... appreciate it!

As suggested, I suppose I will know when I know.

Or as mama said “life’s like a box of chocolates “...

 

[Bir48die]

I have one formula for any decision like this:

Income vs Aggravation = Decision