Hi,
I have been lurking for several months and as of this week am now retired. I am 48 and have approx $1.5MM in net assets, including 457/401Ks and IRAs. I am single with no dependants. I'm mostly in cash and will spend the next month right-sizing my portfolio to about 50% stocks/33% GICS (a nice no vol option in my fairly large 457/401k as an alternative to bonds in this low-interest rate world)/rest in cash or cash-like instruments to be invested in stocks if/when market downturn occurs. In addition I have a traditional DB pension that kicks in at 57 and that will equal, inflation-adjusted, my recent NET salary. So even if I lose all my assets, I still have my state pension as an annuity-like stream of income at 57 (the pension plan is relatively well-funded). So I just need to get through the next 10 years or so.
I have been waiting/planning for this for YEARS. I had a countdown calendar! Was going to wait until retirement date and about six months ago when I hit a milestone asset value and realized I can invest VERY conservatively (because of the impending DB pension) and with my expenses well-budgeted I can just drop out. So I did! Things were so stressful at work and I no longer enjoyed it. Now, no more Sunday night texts or emails about critical projects or new-fangled ideas the boss came up with over the weekend. How I dreaded Sunday night! Last night I watched my first MLB all-star game since I was in college! Probably 30 years. Couldn't do it when working because they play the game so late on the east coast I simply couldn't stay up to watch the end. Now I can.
When I decided to quit a few months ago my boss asked me to stay and I agreed to stay until now. He offered a MUCH higher salary, different responsibilities; he tried everything. When I turned down his offer of a much bigger salary he was perplexed and pointed out that if I accept his offer I will have a much bigger pension (DB is based on 3 highest years). My response was that he is correct but it means that I need to stick around another 3 years! No way. My colleagues, virtually all of whom live paycheck-to-paycheck, were unable to figure me out. How could I leave a great salary and career? No one is/was able to comprehend that I saved and invested for nearly 30 years and didn't need to work anymore. How could they when they almost all refer to the last paycheck of the month as their 'rent' check. I highly doubt that I'll be 'friends' with my former workmates in a year from now. I hope so, but I doubt it. I have several true close friends, but not from work.
There are many projects I am looking forward to in my new life (and it IS a new life) and there are many I have planned for including moving away from my present high-cost urban lifestyle. The seriousness of FIRE in this community is greatly appreciated.
I have been lurking for several months and as of this week am now retired. I am 48 and have approx $1.5MM in net assets, including 457/401Ks and IRAs. I am single with no dependants. I'm mostly in cash and will spend the next month right-sizing my portfolio to about 50% stocks/33% GICS (a nice no vol option in my fairly large 457/401k as an alternative to bonds in this low-interest rate world)/rest in cash or cash-like instruments to be invested in stocks if/when market downturn occurs. In addition I have a traditional DB pension that kicks in at 57 and that will equal, inflation-adjusted, my recent NET salary. So even if I lose all my assets, I still have my state pension as an annuity-like stream of income at 57 (the pension plan is relatively well-funded). So I just need to get through the next 10 years or so.
I have been waiting/planning for this for YEARS. I had a countdown calendar! Was going to wait until retirement date and about six months ago when I hit a milestone asset value and realized I can invest VERY conservatively (because of the impending DB pension) and with my expenses well-budgeted I can just drop out. So I did! Things were so stressful at work and I no longer enjoyed it. Now, no more Sunday night texts or emails about critical projects or new-fangled ideas the boss came up with over the weekend. How I dreaded Sunday night! Last night I watched my first MLB all-star game since I was in college! Probably 30 years. Couldn't do it when working because they play the game so late on the east coast I simply couldn't stay up to watch the end. Now I can.
When I decided to quit a few months ago my boss asked me to stay and I agreed to stay until now. He offered a MUCH higher salary, different responsibilities; he tried everything. When I turned down his offer of a much bigger salary he was perplexed and pointed out that if I accept his offer I will have a much bigger pension (DB is based on 3 highest years). My response was that he is correct but it means that I need to stick around another 3 years! No way. My colleagues, virtually all of whom live paycheck-to-paycheck, were unable to figure me out. How could I leave a great salary and career? No one is/was able to comprehend that I saved and invested for nearly 30 years and didn't need to work anymore. How could they when they almost all refer to the last paycheck of the month as their 'rent' check. I highly doubt that I'll be 'friends' with my former workmates in a year from now. I hope so, but I doubt it. I have several true close friends, but not from work.
There are many projects I am looking forward to in my new life (and it IS a new life) and there are many I have planned for including moving away from my present high-cost urban lifestyle. The seriousness of FIRE in this community is greatly appreciated.
