Hi from R48, expat-Fido, here to share retirement wisdom from over three decades experience

R

retired at 48

Dryer sheet wannabe
Joined
Feb 7, 2008
Messages
17
Pennsylvania lad with Engineering Degree, Penn State University. Entire career with General Electric Company (Saratoga Springs NY area) in design, construction and fleet support for Naval Nuclear-Powered attack-class Submarines, for the Navy. Last was Quality Assurance Manager of various reactor operating equipment. Presently serve on the board of a wealth management company.

Retired at age 48, with three daughters still at Penn State. Computer runs showed 20% chance of running out of money at age 88. Have withdrawn over $1.5 million to live on; Portfolio now about three times the size of when I retired, and added a third house in Florida.

Have made over 28,000 posts in two decades on the Bogleheads, Morningstar and Big Bang Investment Forums. With M* I created and was ten year moderator of a forum titled: Portfolio Design/Management. I have been with both Fidelity and Vanguard, each since they were founded. A priceless tidbit: On my wall is a framed message from Vanguard's founder that reads: "Congratulations____R48______ on retiring at age 48 using Vanguard philosophies and techniques." Signed: John Bogle.

My emphasis will be on helping others both retire early and how to plan for and navigate retirement. I see familiar names and it should be easy to adapt to this forum. Best wishes to all.

R48
 
Welcome. Just curious, what do the models say about your current chances? And how many years has it been since that burn down?
 
@oiseux and @Koolau ........I stopped running retirement models over a decade ago. I clearly have "enough."

You asked how long since that burndown? I assume you are referring to my withdrawals. In my title heading I stated having three decades of (retirement) experience. Yes, been retired over 30 years now.

Another thing I stopped keeping is an annual chart of my assets as of 31 December each year. Started at age 22, I have had to scotch-tape new loose leaf papers up and to the right to allow growth/space. Didn't have computers back then. My kids chuckle at this chart, but they see their inheritance in front of them.

BTW along the way I DID count house net asset value as an asset, but not furnishings or autos. And I did NOT count a Social Security Bond equivalent value as some do.

Thanks all for the welcomes...

R48
 
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Welcome to our wonderful forum.
 
Welcome to the forum.
 
Hi R48,I remember you very much from the MorningStar forums where you helped people with portfolio designs. Look forward to reading your posts here.
 
Read many of your posts at Bogleheads. Welcome here and you will find there are many "roads to Dublin" here with many types of investing discussed. I look forward to your posts here.
 
You are likely to like it here. Financial discussions are good and the lifestyle stuff even better.
 
@engineernerd ...who posted: "Welcome! Three houses, eh? Rentals or vacation/seasonal homes?"

--1st home, NY Saratoga area colonial, owned for 57 years (like Buffet, never moved); sold last November at ask price, during a somewhat lower mortgage rate time, at a peak in prices. Never threw anything away during lifetime/difficult cleanout.

--2nd home, bought 40+ years ago sight unseen. Parents were retiring and had looked for 2 years, settling on a home they built in Sunrise, FL. Three weeks before closing I convinced them to give me their mortgage and I would buy the home, renting it to them near market low rate bottom ($400/month) and a lifetime rental agreement via an attorney document. I deducted travel etc to FL. Worked great, but ever try to raise the rent on your mom (now deceased, rent was zero last five years of her life)! This same home now rents for $2800/month. What a country

--3rd home, built a year after retiring, a Florida residence (bigger than we need) on a new Jack Nicklaus designed golf course/community. Average age at half buildout was 53...young retirees seeking a difficult course. Still own, but progressed from "green" golf tees...to blue tees, and now white tees! Had a hole-in-one of the Par 3 hole I live on.

Thanks all for the "welcomes."

R48
 
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Welcome! (though it looks like you created an account here in 2008). I'm a relative noob on these forums and with retirement finance in general, so forgive me when I ask, if you have withdrawn 1.5M from your savings over a span of 30 years, would it be correct to say you spent on average about 50k per year? That's an awfully frugal lifestyle.
 
Lorenzo said:
Welcome! (though it looks like you created an account here in 2008). I'm a relative noob on these forums and with retirement finance in general, so forgive me when I ask, if you have withdrawn 1.5M from your savings over a span of 30 years, would it be correct to say you spent on average about 50k per year? That's an awfully frugal lifestyle.
Click to expand...
@Lorenzo ...hi Lorenzo. Good question but requires some insights and comments.

--First the start point was 30 years ago, $48,000 a year (There are ways to avoid premature IRA withdrawal penalties). Prices were perhaps half they are today, so double the purchasing power. I didn't consider or feel I was frugal. Didn't travel as much as my snowbird Saratoga home (think horseracing) in summers and my Golf Community Florida home in winter is like living in paradise/like a resort.

--At age 60 a GE pension was available. Since I was adequately living off of my portfolio (incl spending down some taxable account monies) I took a Lump Sum in lieu of pension, into an IRA.

--At age 62 Social Security tax free income kicks in for spouse and me. This is quite a boost to income.

--My mortgages were paid off. However, during the age sixties I took out two large HELOCs (rolled over until recently sold northern home). The last rollover was at 3% fixed HELOC for 17 years, a bank offering. I was thus able to take far less from IRAs than previously. I then used this age sixties time to make CONVERSIONS TO ROTH IRAs, most at the zero percent tax bracket. We didn't have Roths when I worked; now I have a substantial ROTH.

--Of course at age 70.5 started RMDs to today. But due portfolio growth I do not spend all this RMD transfer to taxable. I did use this to pay down HELOCs.

--I also take Qualified Charitable Distributions from my IRAs, reducing taxable income, and recently started a Family Community Foundation in my hometown, providing for various local charities, and upstate NY charities.

R48
 
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Well-played, retired at 48! :bow:
I will be looking for and carefully considering your future posts here.

[I am 57, retired 3/24. DW is (age classified), retired in 2022. Have learned many useful things here, and hopefully have contributed some as well.]
 
@HawkeyeNFO ...who posted: "Not sure you're qualified to be here. 28,000 posts? ER'd at 48? Signed letter from Mr. Bogle? Doesn't seem like you're truly dedicated to the FIRE movement."

My adult kids are chuckling at your post! :)

A poster noted I first joined this forum in 2008. Yes. My recollection is that the membership base and activity was much smaller then. I was posting on the boglehead.org forum, the largest of forums. Back then, bogleheads initially had a lot of engineering/math based posters who were trying to sort out best ways to invest...and PROVE IT. I liked this aspect.

At an evening dinner once with Morningstar management (at a Boglehead annual convention), they offered me a forum titled Retire at 48, and be moderator, if I would join them. (Pro bono). I declined as seeming too much responsibility. Did join them however, as I am more of an active investor. Did create a forum and was moderator for a decade, titled Portfolio Design/Management.

Later joined the Fidelity Forum on an invite. In perspective, Bogleheads got too large; an OP post is met with 50 to 100 quick replies. Morningstar and Fidelity both deemphasized and stopped supporting their forums with poor technology architecture; many have departed. Some departures have created a forum called Big Bang Investor, where I also hang. Some came here. Would like to give a shout-out to those investors who are unfamiliar with Closed End Funds, especially leveraged fixed income ones, that the continuous monthly thread here pioneered by "@dickoncapecod " is top shelf information and support.

Thanks for all the "welcomes."

R48
 
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