Class of 2018

[JoeWras]

I can't help myself hold back anymore, so I decided to open a "Class of 2018" thread. Hope you all don't mind.

A 5 year planning window is not too much.

In early 2018, I'm 55. This is really my last ER date. I hope to graduate early, if Megacorp offers a sweet incentive in the intervening years. They've offered them from time to time, so I wouldn't be surprised if it happens.

Here's the thought. We're pretty much FI now if we live life modestly. DW has a job with a very sweet medical benefit at 55 too (and we are same age), so she'd ER with me, perhaps a few months after. She really wants to hold on, and it is probably wise as I could also get on the medical plan. She's also having a hard time seeing beyond work. I'm not, as I have plenty to do, right now currently with elder care for my father, and also simple "timer wasters" beyond that. I'd prefer to ER together, so that's the initial plan

But we're also wisely planning as if we wouldn't get that sweet medical plan. I look at ER if it happened today and we both had to pay medical. That's our biggest expense, besides taxes, in ER. We could do it, but it would really add expense. So, hanging on a bit longer would just make the retirement much more comfortable.

Another factor keeping us going is charity. We love to give generously, and with a reduced income, we'd still give, but the ultimate numbers won't be as big. We're not working for the charity, but it is nice to be able to contribute.

Other factors in waiting are friends and 401k usage. Many friends will join us or be near joining us in ER in 5 years. Our 401ks both become usable at 55. However, we could get around that if need be through various tax code back doors. We also think we could live just fine on non-deferred savings until 59 1/2, so this isn't an overwhelming reason to stay working. Neither of us have pensions so that's out of the mix of concern or happiness.

W*rk? It's OK. I enjoy it now much more knowing I could literally just walk out the door if I need to. I don't sweat it like I did 5 years ago, nearly having a breakdown one day. I've peaked, and I'm comfortable with it. Talked with the boss and basically told him such, and he understands. Told him time was more important than money, and he understands: heck, he's really in the same boat. He's slowed down too. We're the same age. The boss can give Megacorp's cheap and tiny raise and promotion budgets to the youngsters. I'm OK with that! I don't really need to step on them anymore. And that thinking is an adjustment. It was ingrained in me to always "do better than everyone else." I don't have to, and I'm OK with that.

So, the countdown begins. I'll see you around the boards. If for some reason I get an early graduation date, see you in another topic.

 

[chief04010]

It is never too early to look to the future and make a plan. Personally my last day of work will be Dec. 29, 2017 (official retirement date 12/31/17) so I'm bearly in the 2017 class but since my reitrement date is on sunday and monday is new years day, it wont dawn on me till Tuesday (1/2/2018) that I'm retired and don't have to go to wo*k anymore.

 

[Lovetoski]

I recently reached $ 1 million invested and now all I can think about is retiring from my job. Realistically I need stick it out another 4 years at the salt mine, so I'm shooting for Feb 2018 when I turn 46. Can't wait to be a man of leasure and ski, bike, and kayak everyday.

 

[Snoopy]

Mid-2018

I will be 55 in Mid 2018 when I plan to retire. Wife will retire in 2017 if everything goes as planned.

Probably FI now but want to maintain travel and flexibility in retirement so will continue to work for about 4.5 more years. A lot of financial benefit seems to come from the last few years of w*rk.

 

[JoeWras]

I will be 55 in Mid 2018 when I plan to retire. Wife will retire in 2017 if everything goes as planned.

Probably FI now but want to maintain travel and flexibility in retirement so will continue to work for about 4.5 more years. A lot of financial benefit seems to come from the last few years of w*rk.

Snoopy, one reason I'm planning on waiting until Jan 1 of my birth year is that my 401k will be accessible in my Megacorp's plan. That's why it is 2018 and not the last months of 2017 for me.

Of course, this could all change if the w*rk situation changes.

 

[Snoopy]

457 and 401k

Most of my funds are in a 457 plan so they are accessible once I leave government employment in 2018. Wife's 401k is accessible in 2017.

Now working on post tax savings. Hope to have a couple years in post tax savings when I walk out the door.

Funny how the goal tends to grow as you get closer to the end. You can always use a little extra or decrease the risk 20 years from now with a little more savings.

 

[JoeWras]

Wow, just like that 20% of my time planning window went by. I'm now 4 years away from planned ER.

2013 was an incredible investment year. Because of continued net worth improvement, it is tempting to just chuck it all now, but I'm not ready.

A few things:
1) The job changed. For the first in ages, I'm almost loving work. I'm a software guy, and we've changed management, projects, products, methods, languages -- everything. Completely refreshing and darn near fun. So I actually don't want to quit right now.
2) Friends are still working and that's a concern. In 4-5 years, friends will be ER or near ER too.

Yet the body is breaking down, and I'm aware of that. I don't plan on continuing this too late. I want to stay the course and execute the plan.

One new thing this year is we are looking into starting a donor advised account to help take care of the charitable concern I mentioned in my OP. Yet another nugget of info I picked up here.

 

[datuck]

I'm hoping to be class of 2018 when my youngest heads off to college. Kinda borderline when I do various calcs but think we can make it happen with a few adjustments and a decent roi over the next 54 months... It's weird thinking that it's not too far off.

 

[trapperjohn]

I could graduate in 2015, but if I wait until Spring of 2018 I'll walk away with a small COLA'd pension from my government employer. This would be in addition to other assets we already have.

I'm pretty sure I can last at least to 2015. Not at all sure I can last till 2018. If I do, it will also give me a chance to add to savings/investments.

 

[JoeWras]

Welcome aboard trapperjohn.

Seems a lot of us on the 2018 target are wishy-washy. The market has been great and makes early graduation a possibility for me too.

Rumors are swirling at Megacorp these days, and many of us openly wondering if a package will be offered. Stay tuned.

In any case, 2018 gets closer and closer day be day.

 

[timo2]

trapperjohn, just think how many beers(or other non-necessity of your choice) that small COLA'd pension will buy. That's how I calculate the value of the incremental increases that extra years achieve, even though they don't seem like much when calculating the totality of nest egg sizes.

January 6 2018 is my current target. The original target was January 2015 until DW decided she should retire at 56 instead of me at 62. Two classic lines were used: "you're not retiring before me" + " you make more than me". Since DW is a productive home person, canning, baking, etc., and I am not a productive home person, it wasn't difficult to switch, in theory anyway. Now she is stuck in the OMY routine, but I'm sticking to Jan 2018, which will no longer be ER, as I will be 65 that month.

Although if you follow the 'doomed retirement generation' genre of journalism, age 70 is the new ER ;-)

 

[JoeWras]

Time for my yearly checkup. Guess what folks, we're only 3 years away! I expect this thread to start waking up later this year.

So, here I am, still OMY of sorts, but really with a plan. Things are going well.

- We did start a donor advised fund for our charitable giving. It has been a joy to do this and we have bigger plans for it the next three years, hoping to fund it for distribution in retirement.

- The market was great this year. Net worth is way up year over year based on the market, and our earnings.

- W*rk is w*rk, but being FI now, I can tell them to shove it should I need to. This allows me to get some enjoyment out of it without worrying about the BS. I actually enjoy watching co-workers play the "I want the promotion" game. It is kind of a spectator sport. They don't seem to bother with me much since I just don't care, so they know stabbing me has no effect.

- Megacorp has layoffs but stopped offering voluntary packages. Darn. I was hoping to get chosen, but didn't. Maybe next year.

2018 still makes sense so DW and I can sync up. We'll see.

 

[RoyDornoch]

Entering Class of 2018

I'm pushing back from 2016 into 2018 (when I'll be 60). The next few years will be spent on trying to figure out what I'll do post daily-job and also getting into the down-sizing, simpler lifestyle.

It feels good to peg a date and "work" toward it.

 

[boilerman]

Add me to the class of 2018. For many years I've had a window between ages 55 and 60 when I thought I'd be FI. In early 2018, I'll have just turned 57 and that is my plan.

For several years, I couldn't help but calculate all the additional money I'd have waiting until 60. More pension (about $8k more for every year between 55 and 60), 5 years of salary, and contributions plus compounding to the 401k. It's a lot of money. Then about a year ago I got a crappy boss and decided that I'll leave when I have enough. I can appreciate the OMY syndrome but I am determined to not fall into that trap.

Discussing with DW and family has felt good and making the decision "public" has made it more real for me. Still 3 years away, but now I'm getting a better handle on expenses, post retirement hobbies, where we want to live - basically everything beyond getting to FI. After 20+ years of planning, it feels great to see plan coming together.


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[Rickt]

We plan to retire in 2018 as well at age 58. DD will complete undergraduate degree in computer engineering in 2017. We plan to sell our business& house and then travel the world before settling down (haven't decided where yet).

 

[Grumpyretirement]

Count me and DW into the 2018 class as well !!!!

 

[SumDay]

Three years from this Sunday (so: May 31, 2018) will be my last day at work. I feel better just typing this. Interesting, because I'm seeing LOTS of retirements right now, both from Facebook friends, and announcements in my work email. People must want to get a jump on the summer.

665 working days, 1098 calendar days, but who's counting?

All this said: Good Lord willin' and the creek don't rise.

 

[JoeWras]

On about the same schedule, SumDay.

Finally got a second opinion on the viability of retiring from a Vanguard adviser. (The freebie Flagship clients get.)

He says I'm good to go. DW was relieved to hear it from a third party, so she's finally on board too.

The only problem with looking forward to 2018 is it means I'll be older too. Dang OMY/TMY syndrome.

 

[Nunyaa]

Still planning on March 2018....this is a placeholder so I can see how close I land.

 

[whatnot]

Our date is 4/1/2018.


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[JoeWras]

TAAHMY syndrome.

Two And A Half More Years

 

[timo2]

Have reached the point where I do not have to attend any more training to keep up my two project management certifications, which have two year active periods. For the last time I just paid to keep my Project Management Professional (PMP) active for two more years. Also earned enough credits to keep my Program and Project Managers (FAC-P/PM) certification good for two more years.

 

[seabourne]

Add my name to the list as well.

Had a setback a couple of years ago (employer stock dropped 45% at the annual repricing, can't divest without quitting the firm), so the date that I'd started a rough 1000 day countdown to (4/16) isn't going to happen. At least it addressed somewhat the risk concentration I was worrying about in my investments, but I hope to never lose 6 figures in a single day again.

DW (as of almost 2 years ago now) is ready for me to be footloose, but understands two more years from here; I've told her that I won't have the patience for longer anyway, even if I need to find something fun part-time for a year or two afterwards (sailing work summers or a winter aboard somewhere warm) to let investments stay unmolested for a bit longer.

Plus, as a matter of pride. I'll turn 40 at the end of 2018, and I want to be able to say that I retired before 40 (even though I may sail for wine and extra travel money occasionally). Silly thing, but in some ways expect it to help mentally with what other people have described as the loss of self-respect/definition as a result of not having a job/work to describe themselves. Though I do like using "professional sailor" ("gentleman of leisure" or "wind-swept vagabond" aren't bad either)

 

[JoeWras]

Time for my yearly check up.

Down to 2 years left. This last year took a definite turn for the worse at w*rk. I was reading my report from 2 years ago and had to chuckle. I was so upbeat then because of a management change.

Well, we had another management change and it this guy is a tyrant, with some ideas that really make workers' lives miserable. (He is heavily into 24/7 requiring people to keep up with groups spread over the world.)

On top of it, Megacorp has instituted the new fad of slow burn layoffs. The drip-dribble kind of thing that keeps them from reporting to the government, but makes nearly every day a possible lay off day at w*rk. There will be no "packages" under the new thinking. The ones they gave 6 years ago or so were sweet, but those days are gone.

I've got to keep a level head here, but honestly if I was laid off, I would not cry. I only stick with it to sync up with DW in two years. And with the current stock market route, the paycheck gives a feeling of security.

But I tell myself: "Joe, stop that thinking. There will be a day you are retired, and you'll have to deal with correction/bear markets."

And so it goes. Trying to keep positive at work, but it is not easy.

 

[Bigdawg]

Time for my yearly check up.

Down to 2 years left....

I've got to keep a level head here, but honestly if I was laid off, I would not cry. I only stick with it to sync up with DW in two years. And with the current stock market route, the paycheck gives a feeling of security....

And so it goes. Trying to keep positive at work, but it is not easy.

Hang in there Joe. If they lay you off at least you will get six months of unemployment albeit at lower pay then you are currently receiving (my guess).

I'm on my OMY x 2. Looking at June of 2018 as my new date. That way I can max out 401K for 2018. Already FI with 2 (me and DW) COLA'd pensions. DW will shoot for 2020 @ 50 and a second COLA'd pension for her.

Good luck Joe.