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https://andrewmarshallfinancial.com/what-is-a-pension-worth/ Here is a link to a chart to value a pension. It uses factors such as COLA, survivorship, age at which it can begin to be taken etc.... According to that chart, My $70k pension is estimated at $2.8m, as I am taking it at 45, with...

When you signed up for ACA, did you use or consult a broker? Or compare the plans with the online tool? I have heard that a broker is good to use to get started and is not cost to me. I have not looked into the broker much though. might be worth it.

I paid mine off and wouldn't change a thing. Enjoy it! Don't worry about "optimizing everything."

My pension has a 2% cola.

That's a really good idea. For me, I might break it up to pre-SS and post- SS. Age 46-68 is the first phase. After that I will have pension + SS and will likely need to draw way less from savings.

Great question about the pension. I have already locked that in a few years ago. Our state has a deferred retirement program (DROP) which means I have to retire in Jan 2028 with no exceptions. That's a good idea about the retired LE jobs, I do see a lot of retiree's go and do that.

I would say that frugality and side hustles really moved the needle for me. I restored several classic international scouts and sold them for a good mark up over the past few years, did a few property flips and have owned my current home for 24 years, and our vacation home was purchased as a...

I had a pretty modest income most of my years of earnings, until some promotions about the last 5 years (and lots of overtime). If I have zero reported income from now on, (which is 8 or so years of ZERO income and includes my teenage income of a few thousand per year) my SS is $3025 per month...

So, according to Firecalc at 89% success rate, I can spend $155k per year for 40 years, which is far above what I have ever spent in one year in my life. That includes a 70k pension and SS at 68Me/67DW. I hope I am doing that correctly. I am using an investable amount of $2.2m.

Very true. Years ago, I told my self a date to be ready. Financially I was ready, but mentally I was not. You are absolutely correct about being READY to retire! It was not scary to me until I was on retirements doorstep.

1 year update! One of my favorite things about this forum is to see people post updates over the years to see how goals were met (usually far exceeded!) and how they are doing along the way. 1 year ago I had $1,076,000 investable assets and this year $1,364,000. And I even spent $$$ for a...

As a gov worker I suddenly hit my FI number on the 20 year anniversary of employment due to the ability to collect a pension. I have contributed 11.4% of my salary to the pension system. I did an ok job of saving into my 457 and 401k and paid off our house. I decided to work one more year...

I am 45 and trying to build the courage to pull the plug. I like the reminder you had about feeling the age and living it up in my prime years! Even though I am FI, I have a hard time leaving a great job with suddenly high income over the past 3 year.... I never had that most of my career so I...

In my case, I paid off a 3% interest rate mortgage to plan for early retirement. The reason why, is to keep my expenses lower, so I can keep my income lower, so I can qualify for ACA subsidies. If I kept the mortgage, I would need an additional 20,000 of income per year to make those payments...

So sorry. That is just terrible

I just read through this thread and caught up. How have the rest of your investments done over the past year and a half or so since you first posted? Looking back, are you glad you took the time to go part time and test it out? It looks like you are in great shape. congrats.

I worry about this also. I am 45 and looking at retiring next year. We will be empty nesters (3 kids) and looking to have a fun and adventurous early retirement. I was talking with my DW about creating an app for adult couples finding compatable friends. Maybe meetup is already that source?

Thanks for your time in education, I know that is a tough profession and getting tougher. Great job saving! So if wife is working and kids in school, what does a typical day look like, or week or months? Maybe a job change would bring more happiness? Or Part time work? I work in local Gov...

Have you thought about your day to day life if you are a soon to be empty nester and your wife will still be working? I only ask because I am in a VERY similar situation - to include same ages and stages of kids, savings etc, and am looking at early retiring this next year. I am just waiting...

Can you tell me about the last 25 years? Highlights? What was expected and unexpected? What was your financial plan, did you stick with it or did change? thanks! and congrats!

My favorite thing about his forum is reading posts like this...that were started many years ago....with careful planning and goals....and watching the updates. Great work!

Thanks for sharing. I needed to hear this. I am 45, about to retire early and am feeling like it may be too early, like I will want to come back or something. It would be extremely hard to get back into a position like my current one if I retired and tried to come back. I won't need to work...

Thanks for updating this. I love reading how people make goals and through some hard work, determination and careful planning, they achieve them. Have you kept track of expenses in order to gauge what your spending would look like in retirement?

OP- How old were you when you retired with 1M? Just curious. I think it could matter depending on age. Thanks! Good thread and perspectives.

I think you need to just work out a more specific plan but you are good to go. #1 Make sure you spending is what you think it is, and have a plan for future expenses, health, emergencies. #2 Figure out what you and spouses SS will be So you take out 60k a year for the next 5 years until you...