Close, but not close enough to retirement

[PlaySomeBlues]

Greetings, all! I've watched this forum for a few years and decided it's time to jump in.

I'm a former journalist who jumped ship when the industry abruptly changed about 10 years ago. I reinvented myself into a communications/marketing person and now have a consulting firm with the brilliant, hard-charging Mrs. PlaySomeBlues.

We're both in our mid-late 50s, and we've run the numbers and know we need another 24 to 36 months before the math makes us smile. There is a pittance of a pension waiting for me down the road, so we will have gas money.

What keeps us from running off to play golf and drink craft beer? A kid in college, health care and too much savings in accounts we can't touch until we're 59.5.

You have a good group here, and I couldn't resist joining the fun any longer.

 

[WyomingLife]

It is wonderful to have you in the pool. Our ages are similar. It sounds like you are close to the finish line, so congratulations. I have the greatest respect for journalism, and am saddened by the economic and political pressures it is under. I believe a free press is a pillar of a free society.

I hope you are a frequent contributor so I can learn from you.

 

[Jerry1]

Welcome to the forum. If you’ve been watching for a few years you’re probably aware of the resources here, but the best resource is the knowledge of the members. Feel free to post any questions or help others out. Glad you could join us.

 

[Dtail]

Welcome to the forum. Lots of smart guys and gals here to assist you on pretty much any topic.
Hope to see more posts from you in the future.

 

[levindb]

The 72T - Substantially Equal Payments - can eliminate the 59.5 issue...but does not touch the issues of college and healthcare costs. Life is great on the other side...come on over when you feel the time is right.

 

[PlaySomeBlues]

Thanks, all! I know I'll have questions at some point. We're both adjusting to not having to w**k all hours day and night, and it's been refreshing. We're spending more time with friends and family. It's like we dipped our big toes in the retirement waters.

 

[pb4uski]

Welcome.

Will you sell your consulting firm or just wind it down? Just thinking that if your end game is a sale that you might not want to take the foot off of the gas pedal too much. OTOH, if the end game is a wind down then it doesn't matter much.

A friend took the middle road... he sold his practice but retained a two sizeable clients that he enjoyed working with... so he is essentially now working part time with a couple of his favorite clients. I suspect that in 5 years or so that he'll find a practitioner that he has confidence in to transfer his clients to and will wind down totally.

 

[Bir48die]

I discovered ER forum about the same time. It gave me all sorts of hope. I had already been on some "can I retire?" calculator sites but reading posts and running the FIRE numbers solidified the date that I thought I could retire. Since I pulled the plug it's been awesome. Good luck

 

[PlaySomeBlues]

pb4uski: Most likely we'll just wind it down like your friend did, then ride into the sunset.

 

[Extra Medium]

Welcome aboard! It’s a good community here.