How Early is "Early?"

[Spanky]

The time to retire is when you keep asking yourself why you should go to work every morning while you know that you have enough money to live on for years to come.

Since your body keeps deterioating, the earlier you retire the better you will have more time or energy to enjoy life. It really does not matter how much money that you have if you are old and feeble.

Spanky

 

[retire@40]

Since your body keeps deterioating, the earlier you retire the better you will have more time or energy to enjoy life. It really does not matter how much money that you have if you are old and feeble.

Enjoy yourself. It's later than you think.

 

[Mr._johngalt]

Hey BMJ! Thanks for thinking of me. A early a.m.
salute to our flag. Long may it wave.

For atl, earning more money is frequently irrelevant
to the ER. In my case, I walked away from the best offer
of my life and never regretted it for a minute.

Re. ages: For me, "semi" at 49 and fully at 53, but even in "semi" mode
my workload was cut about 80%. BTW, even at age 60
I find I am "unusual" compared to my contemporaries.
Very few are retired or even have any firm plans as far as I can tell. OTOH, most own their own businesses
or are self-employed so that makes a big difference.

JG

 

[unclemick]

Hmmm

My view was early retirement at 63. Then I was put out to pasture(layed off) at 49. Sis on you pister morphed into 'hey! not working is fun! After ten years - I ran across this forum - now I'm a high class ER - with dryer sheets.

 

[Eagle43]

Speaking of early, what is the earliest mandatory retirement in the world? I believe France has 60? Anybody beat that?

 

[Mr._johngalt]

Don't know, but I assume the good folks here know
my position on being told that I "must" retire at any
particular age, or that I "must" do most anything for
that matter

JG

 

[Spanky]

Speaking of mandatory age, here is an article of from the Cato Institute:
" ..................
Mandatory retirement age rules still prevail in some private and public-sector occupations: State and local police (55-60) and firefighters (55-60); federal firefighters (57); federal law enforcement and corrections officers (57); and air traffic controllers (56, if hired after 1972); and commercial airline pilots (60). These are "earlier-than-normal" retirement ages compared to the vast majority of other occupations. .. "

For more info: http://www.cato.org/testimony/ct-jg040909.html

 

[preben]

He,he Sheryl! That one really had me laughing out loud. My job has also become so Dilbert lately that even the slightly dipping market will not stop me from taking the FIRE jump this year!
Cheers!

Bum, You hit that nail on the head.  My answer to the question is you work until you can't take it any more.   For me the signs of cracking are becoming more obvious.

Yesterday after listening to yet another voice mail from yet another person requesting yet another unreasonable thing that there is no way I could produce, I put the phone down and collapsed in a fit of hysterical laughter.    I'm pretty sure that I'm reaching the point where it really doesn't matter if I have saved enough assets to SWR 4% blah blah blah,  I just gotta get out of there!   (I'm 44)

 

[preben]

ATL; I know the feeling but in the last few months I have reached a point of no return based on the Sheryl-like Dilbert experiences in office. Now it is office politics and I can not bother anymore. You might have a real life guinea pig young (35) retiree to experiment on soon!
Cheers!

I can retire today but am concerned about future costs. How do you deal with that? Since I am still employed with an exceptional salary, how can I justify leaving it now.

 

[treypar]

Money can't buy your time.  You only have a limited number of birthdays remaining.
Once your investable net worth is at least 25 times your average annual expenses less any pension, you should be able to retire.  Run FIRECALC to help give you a guideline.

I have the 25 times annual expenses now so maybe it is time to try it before I run out of Bdays.

 

[BigMoneyJim]

I have the 25 times annual expenses now so maybe it is time to try it before I run out of Bdays.

I'm not sure how serious you were, but anyone contemplating ER using a 25x / 4% rule (or any other method) should feel comfortable with their understanding of where the rule comes from, it's pros and cons and detractors, and the investment mix they choose. That said, I more or less expect anyone who's saved up 25x expenses most likely has the investment savvy to make the decision as wisely as anyone else. And I'd be gone ASAP.

 

[BUM]

Ben,
It sounds like you have made your mind up to RE. Congratulations. Stick to your guns (PPK?).

Sheryl,
I just gotta get outta here! I understand that. More and more lunacy. Time to prepare your short term exit strategy. Please dont procrastinate.

The saddest are the those who hate their jobs but lament, "Hey, I only have ELEVEN more years..." God, don't become yet another one of those victims.

BUM

 

[BUM]

Speaking of early, what is the earliest mandatory retirement in the world? I believe France has 60? Anybody beat that?

I beat it by 7 years! I said, "Honey, I'm retiring. Its mandatory."

BUM

 

[preben]

Walther PPK 7.65mm 6 in mag 1 in chamber - but recently switched to the Walther P99 actually. Cheers! 8)

Ben,
It sounds like you have made your mind up to RE.  Congratulations. Stick to your guns (PPK?).

Sheryl,
I just gotta get outta here! I understand that. More and more lunacy. Time to prepare your short term exit strategy. Please dont procrastinate.

The saddest are the those who hate their jobs but lament, "Hey, I only have ELEVEN more years..."  God, don't become yet another one of those victims.

BUM

 

[cute fuzzy bunny]

"I'm only aware of three men who use the walther ppk, and I've killed two of them".

Sorry, just watched "goldeneye" last night...

 

[preben]

Close: Bond is holding a gun up to Valentin's head:
Valentin: "Hmm. Walter PPK. I only know of three men who use such a gun. I believe I've killed two of them."
Bond: "Lucky me." Cheers!

"I'm only aware of three men who use the walther ppk, and I've killed two of them".

Sorry, just watched "goldeneye" last night...

 

[Mr._johngalt]

I never knew anyone who owned a Walther PPK. although I did know a few women who were "Packin'
heat". I found that very appealing.

OTOH, I did date a few women with walloping PMS, and
several of them almost killed me

JG

 

[Sheryl]

ATL; I know the feeling but in the last few months I have reached a point of no return based on the Sheryl-like Dilbert experiences in office. Now it is office politics and I can not bother anymore. You might have a real life guinea pig young (35) retiree to experiment on soon!
Cheers!

Now there's a theory - we set up two teams of FIREs one team manages Ben's profolio, one manages mine, we see who does better. I'm 9 years older but then women live longer statistically so it should about even out.

 

[preben]

Sheryl; when we you looking at jumping of the hamster wheel?
I am working on it right now - latest this summer, but might jump earlier. Cheers!

 

[Sheryl]

Sheryl,
I just gotta get outta here! I understand that. More and more lunacy. Time to prepare your short term exit strategy. Please dont procrastinate.

The saddest are the those who hate their jobs but lament, "Hey, I only have ELEVEN more years..."  God, don't become yet another one of those victims.

BUM

Yeah, I've been serious about an "exit strategy" for a couple years now.  My goal has always been to ER at 50 at the very latest, (I'm 44 now) but I'm starting to think I can't last that long, so I'm trying to see how much I can accelerate the plan.    

I actually wouldn't mind some work, rather than total retirement.    Freelancing one or two projects a year to supplement income (I'm an architect) would actually be fun, compared to owning and operating a 15 person multi-million dollar firm.  

Also I know that I will have a fairly decent inheritance at some point, but it seems sort of weird to plan for that while Dad's still doing great at 78 (and his mother is healthy at 100). So that's always a question to me - should I wait for that, or bail now knowing I could last until he goes... I just hate the idea of him even thinking I'm waiting around for "my money" ya know??

 

[Mr._johngalt]

Well now there is something I don't have to
use any brainpower on. If I do get an inheritance, it
won't be much. Too bad, as I coukl surely use it and I
know my folks want me to have it. It's just by the time
we get to that point I don't expect much to be left.
On top of that, my Dad likes to tease that he might outlive me. I'm starting to believe him.

JG

 

[preben]

Another comment; why is this thread HERE? Same for the thread on whether someone could see themselves FIREd?
I PMed Dory and suggest some clean up of the boards with fewer boards so the experience will improve - he might just laugh of me but at least I gave my 2 cents!

 

[Sheryl]

On top of that, my Dad likes to tease that he might outlive me.  I'm starting to believe him.

JG

Yeah, mine might do the same. However, he's set up a life insurance trust. No matter how long he lives we (my brother and I) get the benefit of the insurance. The longer he lives the greater the value of the policy, so I'm not really in a hurry.

 

[cute fuzzy bunny]

OTOH, I did date a few women with walloping PMS, and
several of them almost killed me

You know why they call it "PMS"?

 

[BUM]

You know why they call it "PMS"?

....no you wouldn't... you couldn't!....