A Year Away From FIRE and This Site Just Convinced Me

[Biff Steele]

I have been crunching numbers, planning for years and looking at that tiny, time-worn piece of paper with "September 2018" written on it (my eligibility month) that I have been carefully taping to my desk after every move. A year from now, I could be retired. Sure enough, I got little voice saying "Well, maybe just one or two more years" until I read some of the posts in the section that had advice from people that had been facing that same decision. The wisdom there in what the people wrote was eye opening and it made me realize that the 30 or so years ahead will pass just as quickly (or even more so) than the last 30. Over the past few months, I have added items to a spreadsheet that lists the reasons to go or to stay and the "go" column sure has a lot in it. The advice that stated something like "You can always make more money, but you can't make more time" really hit home and I am becoming more comfortable with the idea that I not only WANT to go, I NEED to go. I look forward to reading more threads and to contribute whenever I can. Thanks!

 

[gamboolman]

Welcome OP.

If you can and don't mind, please share you numbers and your real Net Expenses.

Also go to Firecalc and run the data/numbers.

This is great forum and is full of many helpful and knowledgeable folks who will jump in and give you comments and feedback.

My wife and I are looking to go to pasture at the end of 2019 - so we are in a similar spot as you are. I can say that the members on this forum have been great in providing us with good feedback and items to consider.

 

[Biff Steele]

Taking out what we put into IRAs and savings, we spend about $5,000/month, on the high end of the averages since 1999. We have $360K (combined) in two Roths and about $750K in a 401K-type plan. The only way we have been able to do that is we have no kids (I don't know how people with kids make it these days) and have paid off the mortgage as we bought on a BIG dip in prices.

 

[Golden sunsets]

Have you run firecalc? On the face of it your numbers don't support a spending rate of $60,000 per year. Do you have SS or a pension that would reduce your withdrawal rate either immediately or at some point, so that the WR would become more sustainable.


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[jcretire77]

Been retired since September 2016. It was a great decision for my wife and I. The time goes by so very fast. Once you feel comfortable and take the step you will not regret it.

 

[kimcdougc]

Welcome, and good luck with your retirement, coming up that is. It is great on this side of the fence.