So, let’s put it all together, shall we?!

[DawgMan]

Ok, so in the year or so I have been diving into this site to capture the wisdom of you “grey beards” before I launch perhaps in 2 years, I have drawn the following conclusions...

- No need to complicate things, pick an AA that fits your risk tolerance and go with it. You can get where you want to go with a couple of funds/etfs or multiple individual stocks/bonds/RE/other... whatever gets your goat!
- Total return, Bucket, Dividend approaches all seem to work... do your thing, no wrong answer.
- Retire TOO something... very important
- Spend some time getting your RE defined, ideally do a 1 yr test run while still working. Make sure you have health care/premiums properly allocated until 65.
- Run your calculators/success probability, minimize OMY syndrome, and then eventually “jump in the pool”!
- Set 2 budgets “min NEEDS” and “wants”, be prepared to “weave and bob” different economies... really like this advice.
- Figure out your “sleep factor”. Go debt free, keep a 3% mortgage... do what works for you.

Ok, that’s the start of my list. Come on you ER pros... give us some juice!

 

[RobbieB]

You seem to be on the right track.

When the time is right you will know by just knowing w/o a lot of further analysis.

Then just do it -

 

[DawgMan]

You seem to be on the right track.

When the time is right you will know by just knowing w/o a lot of further analysis.

Then just do it -

Yeah, I tend to believe it’s easy to suffer from analysis paralysis. At some point, you need to trust your Spidey Sense!

 

[REWahoo]

- No need to complicate things, pick an AA that fits your risk tolerance and go with it. You can get where you want to go with a couple of funds/etfs or multiple individual stocks/bonds/RE/other... whatever gets your goat!

Wrong!

No, not the financial stuff, that's great. But you want "whatever floats your boat", not "gets your goat"!

Get someone's goat definition: To make someone annoyed or angry

Get someone's goat | Define Get someone's goat at Dictionary.com

 

[DawgMan]

Wrong!

No, not the financial stuff, that's great. But you want "whatever floats your boat", not "gets your goat"!



Get someone's goat | Define Get someone's goat at Dictionary.com

TOE-Matoe TOE-Matoe

 

[flintnational]

Ok, so in the year or so I have been diving into this site to capture the wisdom of you “grey beards” before I launch perhaps in 2 years, I have drawn the following conclusions...

- No need to complicate things, pick an AA that fits your risk tolerance and go with it. You can get where you want to go with a couple of funds/etfs or multiple individual stocks/bonds/RE/other... whatever gets your goat!
- Total return, Bucket, Dividend approaches all seem to work... do your thing, no wrong answer.
- Retire TOO something... very important
- Spend some time getting your RE defined, ideally do a 1 yr test run while still working. Make sure you have health care/premiums properly allocated until 65.
- Run your calculators/success probability, minimize OMY syndrome, and then eventually “jump in the pool”!
- Set 2 budgets “min NEEDS” and “wants”, be prepared to “weave and bob” different economies... really like this advice.
- Figure out your “sleep factor”. Go debt free, keep a 3% mortgage... do what works for you.

Ok, that’s the start of my list. Come on you ER pros... give us some juice!

I'm still despondent after the Auburn loss. Why retire? Why go on? Life is not worth living. Might as well keep w*rking.

 

[DawgMan]

I'm still despondent after the Auburn loss. Why retire? Why go on? Life is not worth living. Might as well keep w*rking.

Valid point. But sometimes after you take your boy out to the woodshed, he responds! All is no lost!

 

[flintnational]

Thanks. I am already feeling better.

Your plan looks solid. The ability to be flexible helps.

FN

 

[W2R]

Before I retired, I didn't pay any attention to the psychological adjustment. I was heavily focused on the financial stuff.

So, when I heard people say that I had to retire TO something, that kind of freaked me out. I didn't have the slightest idea of what they meant or what I was retiring TO. So I ignored advice like that.

I retired anyway. The first day was a little scary... what should I do? What on earth are we supposed to do in retirement? (This despite the lengthy thread talking about it, that I had read, but hadn't thought about.... ) I went to the gym, and then went shopping for some clothes as a "good for me" present. That worked. I went to the gym every morning after that, as something I could hang on to in order to get my day started. After a couple of days I got the hang of how to be retired, and I have been thrilled with it ever since.

So, my point is that you shouldn't feel intimidated if you hear people say you should retire TO something. If you enjoy your weekends and time off, that's probably all you need in that respect. You don't have to be planning to write the Great American Novel, or climb Mt. Everest, or volunteer at a disaster on another continent, or even have a burning desire to grow the perfect rose in your back yard. Just enjoying day to day life is enough for some of us.

 

[Onward]

After eight years of FIRE and several more of reading these forums, I've come to believe that if you have to ask yourself, "Should I retire?" then you probably shouldn't.

Early retirement has enough challenges that it's probably not for someone who's "on the fence" about it.

 

[Scuba]

You seem to be on the right track.

When the time is right you will know by just knowing w/o a lot of further analysis.

Then just do it -

I agree. As someone who did tons of analysis for years, and someone who became FI a couple of years before I ER'd, there was definitely a point where a switch in my brain flicked. I went from agonizing over whether it was the right time to knowing it was a total no-brainer. For me a major catalyst was getting a new boss who was an extreme micromanager and who had different philosophies than I about acceptable risk/reward trade-offs. The traffic had also gotten worse and time away from home had increased. Then acquaintances and friends close to my age started dying or getting serious illnesses. It seemed like all the signs in the universe were pointing in the same direction. I was very confident that the time was right for me.

 

[brucethebroker]

Just remember it does not have to be black and white: one day working, the next day not. You can ease into a PT job or hobby job you enjoy and then stop full time working. You can take a "sabbatical" year or two off, then get a PT job. You can retire completely.

Once you have the finances to retire, you can decide your future "on the fly". That new flexibility is truly empowering, and allows you to custom tailor your retirement.

Congratulations-you have won. Have fun!!

 

[IMATERP]

I'm still despondent after the Auburn loss. Why retire? Why go on? Life is not worth living. Might as well keep w*rking.

Sort of how I feel during every Maryland game. Once the beat down is over - I regroup and reflect on the fact that Basketball season is just starting.

I

 

[HadEnuff]

I'm still despondent after the Auburn loss. Why retire? Why go on? Life is not worth living. Might as well keep w*rking.

As an OSU Buckeye fan, all I can say is that I'm glad I retired BEFORE the Iowa game.

 

[Midpack]

It’s a good list IMO.

My only other observation is those who act as if life will be another world when they retire. Not having a job to fill your time is a big change, and that’s why it’s crucial for many to have something to retire TO (many somethings in my case). But you are still you, with the same wants and needs, same motivations, same activity level, etc. If you’ve been happy just cruising through life on weekends and spare time, you’ll probably adjust easily to retirement. But if you’ve been VERY active with many/some activities tied to work, you may have a tough time filling that void, and it may not come naturally.

And life is still uncertain once you retire, just as you had to adjust along the way throughout your adult working years, you’ll have to adjust in retirement. Some folks seem to think if I just get the plan exactly right - I see the word “guarantee” and “100% success rate” from time to time. Set yourself up with the odds you can live with, have a plan B, review once a year or so and be prepared to adjust. Life will always be uncertain...