Do you know HOW TO retire-early ???

[Tyro]

I guess I am a bit anxious about FIREing, yes. Although I am financially independent, I find it difficult to make the jump. Was planning to FIRE in July but now it seems I am having second thoughts. Maybe I am not ready, not sure how to do it yet.

HowStuffWorks "How to Retire Early"

How To Retire Early - Forbes.com

How to retire early as done by common folks

These probably aren't what you meant by "not sure how to do it yet," and there's certainly more than one way, in the parlance of our times, to [-]stuff a burrito[/-] [insert pithy synonymous phrase here].

I think -- perhaps -- in your case, a first step might be to adopt the mindset that you're going to do it. Then follow through.

Tyro

 

[Tyro]

Do you want to read about great retirement stories, or do you want to get out there and create your own?

Good point, and there's much to be said for doing just that. OTOH, the greatest creative minds in the world learned from, and were inspired by, the accomplishments and stories of others. It's all good.

Tyro

 

[Finance Dave]

I'm on the cusp of 50, and I know there is so much I could do when I ER. Over the years, my so-called social-life at MegaCorp has gotten worse compared to early in career. So, that's not holding me back.

It is the tech industry, and most of the people are from the other side the world. Their interests are completely opposite. Yeah, it was fun going out and playing cricket one time, but it isn't something I want to make a passion out of. Likewise, I don't think they enjoyed the softball game we cooked up. I'm starting to think that one of the major reasons I want to ER is to change back to a more familiar social circle.

So, when I ER there are so many things I can do:

• Start cooking again, including some fancy meals
• Vacuum more than 1x per month
• Volunteer for stuff. So much I could do at church and community. (Meet new people.)
• Garden more
• Walk to the store to get groceries
• Stop and talk to other neighbors walking around, I don't know them today, but they are my neighbors for heaven's sake.
• Sleep in
• Manage my finances. The exercises I've done here show I've let them get away from me.
• Wash the car more than 2x per year
• And so much more...

We were on the road last weekend, and I overheard a 50-somethings couple next to us say: "She said that retirement has been great. She's had no problem with the time. The minutia of daily life keeps here busy, and she can't understand how she ever did it while working". My guess was they are considering it and pondering what to do in the next step.

+1

I'm slightly older than you, and getting ready to make a change (more on that in a month or so). There is a long list of things I'd like to do, some of them "one time" things, others are new hobbies to pick up. I may need a guitar for Christmas lol.

 

[Chuckanut]

Why would you choose only menial tasks and chores for yourself, once you retire? <snip> I DESERVE to have some fun and enjoy it.

What you specifically enjoy is going to be different for every individual. <snip>

+1 Well said!

 

[FIREd]

He complains about the non-contact with people in retirement. According to this, 41% of American adults don't work. Seems like a pretty big pool of possible friends for anyone looking hard enough.

 

[novaman]

I had a job that filled my day with menial tasks like department-head meetings, e-mail, zone inspections, performance reports, budget planning, VIP tours, regional consolidation, personnel counseling... can you tell that I was in an instructor billet? No, I couldn't either.

I don't enjoy cleaning the house (let alone vacuuming) or yardwork but I love home improvement, surfing, writing, reading, blogging, traveling...

Do you want to read about great retirement stories, or do you want to get out there and create your own?

Actually I'm not retired yet. Well... I guess you can say I'm semi retired. I've cut my work week down to 28 hours a week and I work out of the house. Right now I'm trying to picture what it might be like for me to be fully retired, and I can't get a handle on how that would look. Some of the things folks here are sharing don't exactly do it for me.... not to say that's not a great way to enjoy retirement, it just isn't for me right now. Part of it could be because I'm still a young 49.

 

[Nords]

Right now I'm trying to picture what it might be like for me to be fully retired, and I can't get a handle on how that would look. Some of the things folks here are sharing don't exactly do it for me.... not to say that's not a great way to enjoy retirement, it just isn't for me right now. Part of it could be because I'm still a young 49.

Here, you young whippersnapper, jumpstart your creativity with this:
Retirement Planning Wisdom That You Won't Get from Your Financial Advisor: The Get-a-Life Tree: A Great Retirement Planning Tool!

 

[Rambler]

Since I'm not yet retired, one could easily assume that I've not yet figured out how. But I will say that the [-]BS bucket[/-] learning curve has gotten [-]fuller/heavier[/-] steeper and this has accelerated in the past few months. We'll see what the next few months bring.

R

 

[obgyn65]

Easier said than done, Tyro. Not easy giving up on a job that pays hundreds of thousands of $ a year, with a high status and everything that comes with it. I also consider it a privilege to serve patients who sometimes face very difficult situations.

I will FIRE, but not sure when. I hope keeping reading this website gives me strength when the decision comes to make the jump.

I think -- perhaps -- in your case, a first step might be to adopt the mindset that you're going to do it. Then follow through.

Tyro

 

[Tyro]

Easier said than done, Tyro. Not easy giving up on a job that pays hundreds of thousands of $ a year, with a high status and everything that comes with it. I also consider it a privilege to serve patients who sometimes face very difficult situations.

I will FIRE, but not sure when. I hope keeping reading this website gives me strength when the decision comes to make the jump.

I didn't mean to imply it would be easy or cut & dried, but when it all boils down, that's essentially what it comes to.

 

[novaman]

Easier said than done, Tyro. Not easy giving up on a job that pays hundreds of thousands of $ a year, with a high status and everything that comes with it. I also consider it a privilege to serve patients who sometimes face very difficult situations.

I will FIRE, but not sure when. I hope keeping reading this website gives me strength when the decision comes to make the jump.

Exactly my thoughts. I'm a dentist and I love what I do (for the most part). I especially get great personal fulfillment knowing that I helped make a positive difference in the lives of my patients.

 

[Tyro]

If you guys are getting that kind of fullfillment, then, pardon my asking, but why do/would you WANT to RE? It may not be the best life path for everyone.

Tyro

 

[Sirka]

RVing is fun

I dunno. I thought RV'ing was fun, but one can always have too much of a good thing.

+1
RVing is fun, but we call it vacation. We always come back 'home' after 2 or 3 months of traveling each year and regroup. Some people argue that we are always on vacation since we are retired; we are not. There is so much to do at home and yes we sleep in now and then, just because we can.
This year, when we got back from RV trip to Canada, we flew to Cancun for a week with our daughter and family. Life is good - FI helps to keep it so.

 

[Sirka]

hang out and watch the Pelicans...

I love to take a boat ride on a calm day and just do nothing but hang out and watch the Pelicans. I love my coworkers (who treat me way better than I deserve), but I would be happy to never walk through the hospital doors again. That's why I keep reading this forum...gives me hope.

Sounds like you ARE ready.

 

[urn2bfree]

As one of those professionals whose job gives me status and repeated satisfaction that I am making a positive difference in people's lives along with a very nice amount of $$$ to do this job, I will say that the reason I want to RE is that it is not enough to make up for what the job takes.

STRESS and TIME

The latter is not replaceable and the former makes what time I have so unpleasant that getting out of bed to go to work is a daily struggle....but the end is in sight. I am one step closer and expect to join the class of 2013...at the very end of 2013, so almost 2014, I guess.

 

[obgyn65]

Fair question. I already discussed a few reasons in previous posts in the past, including insurance-driven medicine, litigation, obnoxious MAs, some very difficult patient situations, etc. At the same time, I have reached a new stage in my life. I am 47 now, so maybe the need to FIRE is a sign of my own "mid life crisis"

If you guys are getting that kind of fullfillment, then, pardon my asking, but why do/would you WANT to RE? It may not be the best life path for everyone.

Tyro

 

[Tyro]

Fair question. I already discussed a few reasons in previous posts in the past, including insurance-driven medicine, litigation, obnoxious MAs, some very difficult patient situations, etc. At the same time, I have reached a new stage in my life. I am 47 now, so maybe the need to FIRE is a sign of my own "mid life crisis"

That's valid; I've had a few of those myself.

My free advice is to do it before your health goes. Unfortunately, that cannot be predicted.

Tyro

 

[traineeinvestor]

My free advice is to do it before your health goes. Unfortunately, that cannot be predicted.

Tyro

That's one of my motivations as well. As I get older some things will get harder and eventually impossible and there is no predicting when that will happen. No amount of income or corner office status is going to buy me any more time in which to live or stop me from growing older.

FIREing in mid 2103 at age 47.

 

[Alan]

FIREing in mid 2103 at age 47.

You must be a billionaire with that time machine, no wonder you can afford to FIRE at 47

 

[traineeinvestor]

You must be a billionaire with that time machine, no wonder you can afford to FIRE at 47

By which time a billion dollars may not be worth all that much.

 

[Letj]

filling my day with menial tasks and chores like vacuuming, cleaning the house, tending to the yard, etc. doesn't sound like a terribly exciting retirement to me. Anyone out there with a great retirement story?

Menial tasks to you may be satisfying to many. I always felt that finding joy in the simple life and simple things is my keys to happiness. Don't need a whole lot of fancy dinners and entertainment to be contented.

 

[rescueme]

If you guys are getting that kind of fullfillment, then, pardon my asking, but why do/would you WANT to RE? It may not be the best life path for everyone.

Tyro

+1

I retired (not early, but before the age I planned upon, many years earlier) due to the stress of both my "j*b" and my personal life responsibilities.

If you are happy with the "skin you're in", then if you want to continue to w*rk and contribute, so be it.

You will find no argument from me, at all.

"Different folks - different strokes"...

 

[Speculator]

"I don't think this guy know how to retire-early. I would love to have a chance to try and I bet many of you feel the same way. Retire to do "nothing" so you have to go back to work to make money and have contact with other human beings... what a shame."

As someone who retired much earlier than the traditional age of 65, or so, I can empathize with "this guy."

There are many activities which are based on workplace relationships and when these are gone due to early retirement, there can be quite a bit of time to fill. Add to this the lack of social involvement with folks of our own age (due to most of them still working) and the challenges begin to mount. And finally, the resentment of others (either consciously or otherwise) can result in many uneasy feelings.

That being said, getting off one's butt and addressing the problems will always lead to a solution, maybe not a perfect one at first, but certainly better than moping around feeling sorry for yourself. I'd suggest (from personal experience) becoming involved in volunteering activities, going back to school (real academics towards a degree, not just auditing classes), developing new interests (perhaps based on things you enjoyed when younger), and exploring ways to incorporate your hobbies into paying positions (I became a certified professional ski instructor.)

I guarantee by doing these things, you'll find a new world out there for you to enjoy. My life has become so much more enjoyable and fulfilling over the last twelve years than I ever expected it to be and it continues to get better each day!

 

[csgraff]

I "retired" at 47, but not to just sit around. I immediately spent the next year building a house on our 160 acre farm. As in, I knew a carpenter, and helped him to build the house. Hardest work I'd ever done, but fun. Also not something I would have been able to do much later in life.
Now I am raising cattle and tending to the farm and equipment, etc. Not busy constantly, but plenty to keep me from boredom. Luckily I have a couple of neighbors nearby that I trade off with when anyone needs a little extra help.
Hopefully, in another year or two I can even make a small profit on paper to keep the IRS off my back over the farm expenses.

 

[grasshopper]

I had a lot of pre-retirement practice, W**k was getting in the way of my volunteer stuff. Chasing desert tortoises around Tonto National Forest on Fridays, Master Gardener/Docent at the Desert Botanical Gardens on Saturday. Sunday my spiritual practice with a group of friends. I was worn out by Monday. But I was lucky to have the option of staying home or going in, my choice.