Low 50s, and am I "retired"? Well, I'm now not working hard!

[NeilDH]

Hi, everyone. This is a really neat forum to find. My wife (52) and I (54) just ended about 30-year careers in newspapers after voluntary buyout offers kept coming; we finally took it. I believe I'm in the FIRE camp. I'm nervous just a few months in, but I've run our numbers countless times and used retirement calculators, and they're reassuring. (My favorite site is FI Calc.)

We have a portfolio of $1.9M, aggressively invested (I'd say in the 85% stocks/15% bonds range), plus $600,000+ in company stock that will be paid out over five years -- and we have to hope that stock holds its value over that time. Even if that company stock's value drops drastically, my and websites' calculations have us looking good, based on annual spending of around $100K or even a little more (that's total for the both of us, and includes health care), with the provision that we may have to reduce that spending a bit in really down-market years. No kids, btw.

I suspect also that at some point we'll have a little supplemental income. I'm working on getting credentialed in income tax preparation, and I suspect I'll pursue (or just get) a little freelance writing-editing work, too.

So while money is a healthy worry, now it's more about figuring out how to live this life. We certainly like the much-increased flexibility and freedom, while we work on finding our purpose, enjoying the time. It's totally fascinating to start reading some of your experiences. We never used the R-word "retired" on ourselves until other people did. Maybe I'm "semi-retired"? The term really doesn't matter; I know only that we're not interested in new full-time work and we're lucky not to have to be.

 

[skyking1]

Welcome aboard, and glad you are enjoying the reads here.

 

[Koolau]

Welcome to the FIRE Forums. Please check back often and contribute.

 

[Out-to-Lunch]

Welcome to E-R!

 

[MarieIG]

Welcome to the forum! We hope to hear from you often, and you enjoy your new "adventure."

 

[pacergal]

Welcome. Glad you found us!
Hope to hear more from you over the years.

 

[Yipper]

Welcome!

 

[Yoheadden]

Congrats and enjoy your new found freedom. The DW and I will be joining the ranks next year, both @55.
This is a very friendly & helpful forum. I think in part because we mostly have a common way of thinking.

 

[CO-guy]

Congrats and welcome! Everyone here has been incredibly helpful and supportive.

I just celebrated a year transitioning away from the "full-time" and have found no end to the freelance consulting opportunities available.

 

[rodi]

Welcome to the forum, and to retirement.

I was 52 when I retired... I was worried more about losing structure to my day, than about money. So I took some classes at the local community college. 8am classes, 3 times a week. 3 semesters of Italian gave me structure while I transitioned. And I realized I didn't really need the structure.

My sister took an golden handshake from her school district, but was worried about money. She supplemented the pension/annuity that came with the golden handshake with substitute teaching and tutoring local kids in math. After about a year and a half she realized she didn't really need the $ and gave up the supplemental gigs. But it was a good transition mechanism for her.

I guess my point is - it's ok to be semi-retired/work gigs/add structure to help you transition. It's a big adjustment after years of working.

 

[NeilDH]

Welcome to the forum, and to retirement.

I was 52 when I retired... I was worried more about losing structure to my day, than about money. So I took some classes at the local community college. 8am classes, 3 times a week. 3 semesters of Italian gave me structure while I transitioned. And I realized I didn't really need the structure.

My sister took an golden handshake from her school district, but was worried about money. She supplemented the pension/annuity that came with the golden handshake with substitute teaching and tutoring local kids in math. After about a year and a half she realized she didn't really need the $ and gave up the supplemental gigs. But it was a good transition mechanism for her.

I guess my point is - it's ok to be semi-retired/work gigs/add structure to help you transition. It's a big adjustment after years of working.

That's great insight, rodi. Appreciate it.

 

[HI Bill]

I didn't find the transition difficult at all, but I ER'd at 55...wish I'd done it earlier! A former VP from my past company offered me some consulting work last week....it was awesome telling him I'm no longer interested in w$rking!

 

[Rianne]

Welcome! I guess you can think of it as "freedom" more than "retirement" Why not have a part-time gig as consulting but keep your schedule open to do what you want, travel, volunteer...etc. We're no longer tied to working for income. Our investments are working for us.

 

[Koolau]

Welcome! I guess you can think of it as "freedom" more than "retirement" Why not have a part-time gig as consulting but keep your schedule open to do what you want, travel, volunteer...etc. We're no longer tied to working for income. Our investments are working for us.

Yes, my money w*rks harder for me than I ever did! It's truly amazing. I still recall the first year I made more on my investments than I did with my salary. That was a VERY good year indeed.

 

[NeilDH]

Welcome! I guess you can think of it as "freedom" more than "retirement" Why not have a part-time gig as consulting but keep your schedule open to do what you want, travel, volunteer...etc. We're no longer tied to working for income. Our investments are working for us.

This is excellent. Yes, one thing I do know is I want supreme flexibility, even if I do w*rk. Keeping the schedule loose -- yes! Especially as May is upon us and I like to enjoy the outdoors.

 

[Live Large]

Hi, everyone. This is a really neat forum to find. My wife (52) and I (54) just ended about 30-year careers in newspapers after voluntary buyout offers kept coming; we finally took it. I believe I'm in the FIRE camp. I'm nervous just a few months in, but I've run our numbers countless times and used retirement calculators, and they're reassuring. (My favorite site is FI Calc.)

We have a portfolio of $1.9M, aggressively invested (I'd say in the 85% stocks/15% bonds range), plus $600,000+ in company stock that will be paid out over five years -- and we have to hope that stock holds its value over that time. Even if that company stock's value drops drastically, my and websites' calculations have us looking good, based on annual spending of around $100K or even a little more (that's total for the both of us, and includes health care), with the provision that we may have to reduce that spending a bit in really down-market years. No kids, btw.

I suspect also that at some point we'll have a little supplemental income. I'm working on getting credentialed in income tax preparation, and I suspect I'll pursue (or just get) a little freelance writing-editing work, too.

So while money is a healthy worry, now it's more about figuring out how to live this life. We certainly like the much-increased flexibility and freedom, while we work on finding our purpose, enjoying the time. It's totally fascinating to start reading some of your experiences. We never used the R-word "retired" on ourselves until other people did. Maybe I'm "semi-retired"? The term really doesn't matter; I know only that we're not interested in new full-time work and we're lucky not to have to be.

Yes, just reading can be very inspirational I think I’ve done so about a dozen years now. Site has been upgraded, I do recognize a few old school monikers…Retired forum on what it means to you matters most IMO - is like watering garden ’work’ I pay myself
Part-time play gigs don’t feel like work to Me but we’re all different- one year my ‘paid hours equaled 80 so divided by 12 so 6.5hrs month?
Travel is Full-Time had entire hotel on the Coast during pandemic wife RN breaks.
Now, back to international travels so enjoy your TIME well deserved- btw no kids either.

 

[Montecfo]

Welcome! I think if you are FI and "feel" retired, then you are.

There was at least one thread here recently about doing tax work on the side. Perhaps you participated but if not pretty easy to find.

Best of luck moving forward.

 

[Diogenes]

Just saw this thread... some 8 months later. OP - how are you doing?

Recent statistics on this Forum suggests a demarcation age, around 55-56. Retiring in one's late 50s is still early, compared to norms or societal expectations... but going in one's early 50s, is early-early, with a whole passel of psychological issues, at least for some people. Maybe something about that "core 25-54 labor force" group? One supposes, that whenever a person retires, aging-out of the "Core" group offers some salve, regardless of what happens to finances or networking or filling one's day. That's not universal, of course... but perhaps applies to a lot of us.

Thoughts?

 

[NeilDH]

Hi, all. It’s now close to 15 months for DW and me. Overall, it’s excellent. The supreme flexibility is wonderful and paramount for us. We haven’t done huge travel but made several short trips to visit family, and we have another one of those next week. We’ve had a few nice long weekends. But mostly we enjoyed just sitting on our deck especially in the summer and doing our odds and ends and hobbies. I’ve done even more cycling than I had before, totally going with it. DW discovered pickleball and has had proper time to help her parents (5 hours away); I’ve also helped elders some.

Calling myself “retired” is still difficult for me and I’m careful about it. Many people I know, especially relatives or a few my age who are or were in big jobs, surprise me and are supportive. Others, especially former working peers, seem unsure how to respond to me. And I’m cognizant not to boast before those who still must toil and especially struggling to get by; I feel some guilt there. All this while I myself often feel like I should be doing something “important.” Yet here winter is upon us again and there’s less of my outdoor time, meaning a good time to do side gigs like tax work or freelance writing or editing. But I am not much feeling like committing. DW and I had stomach bugs over the holidays; it was nice to just take it easy and help each other without worrying about w*rk. And we continue to be available for ailing elders. Meanwhile I’ve started on my passion project of building a website based on my hobby, without worrying too much about a timeline for it.

Finally, of course, it was a good market year, which was comforting. $2.3M portfolio now with $546,000 waiting in ESOP shares to be paid out over the next four Decembers; gotta hope that value holds. I’m very pleased that our 2024 spending came in under $100K, even $95K. I’m spending much time about now strategizing to generate living funds going forward especially with increasing whispers of a market correction possible. But it’s a nice problem to have. This site has helped me a lot and I appreciate you all.

I’d love to hear answers to Diogene’s psychological question about what age you don’t feel so “early” compared to peers anymore.

 

[zangbao]

I retired at 50 in 2023. I have no psychological issues for retiring early. After being retired for almost two years, I can honestly say that if it weren't for my pension, I would have retired much earlier. I'm not one to anchor my identity based on work, purpose or social expectations. Control over my own time is more valuable to me than exchanging it for money. I feel free.

 

[Koolau]

I retired at 50 in 2023. I have no psychological issues for retiring early. After being retired for almost two years, I can honestly say that if it weren't for my pension, I would have retired much earlier. I'm not one to anchor my identity based on work, purpose or social expectations. Control over my own time is more valuable to me than exchanging it for money. I feel free.

Kind of an interesting discussion regarding psychological issues of retirement. I hadn't thought too much about it before. But I took a course (mid c@reer) called "C@reer Anchors. It's purpose was to help each person identify what motivates them in their c@reer.

My two anchors were (#2) "Life Style" - IOW receiving enough money to finance ones life style and (#1) Technical competence IOW to be recognized (by peers, management and self) as being very competent in ones specific assignment.

I mention this because when I was 51, I realized I was Financially Independent (so #2 was no longer an issue to me - I had enough for life style.)

I had pretty much designed my own current assignment and was the technical expert (and was recognized as such.) So when Megacorp decided they wanted me to do something else for which I was not qualified IOW my #1 C@reer Anchor was unceremoniously cut.

I was gone by end of the next week.

I hadn't thought too much about the psychological aspects but I can see that my leaving was very consistent with my C@arrer Anchors (motivation.)

 

[audreyh1]

I retired before 40. I had no psychological issues either. I was anxious to go traveling. And yes definitely control over my time and minimal schedule demands from outside sources.

 

[Diogenes]

Those folks who have no psychological issues tend to have robust maturity about who they are, what they do, what is their personal identity and so on. When I lost job #1, a relatively attentive and solicitous friend, reminded me of the movie quote (I believe it was from a movie), "You are not your job". As pithy sayings go, it's supposed to be self-evident, at least upon sinking-in. But the more that I pondered it, the more I realized that whereas on the one hand I hated the institution for which I worked, and yearned to be free of it, on the other hand, I very much was my job... the research, the travel, the human engagements, the pleasure of being consulted for my "expert" opinion. Eminent people would ask me to write letters of recommendation. Powerful people would call me, begging pardon for the intrusion, asking for my advice. It was a massive ego trip!

When job #1 ended and I semi-retired for a trial-run, I realized that the drudgery of work indeed stinks, but the personal identity of one's career is essential. My second job was decently lucrative (nothing to brag about), but offered zero apotheosis of identity, or professional challenge. I was a clock-puncher. When it abruptly ended, there was ample reason to feel relief and liberation, and to some extent that happened. But it also felt... premature.

Another factor is family. The OP is married, and most people on this forum have a spouse (unless widowed) and children. Those of us who are "super single" (no spouse, children, siblings or parents) seek surrogate "families" at the office water-cooler. This is admittedly facile and risky, but something is better than nothing. Part of the retirement challenge is finding a better surrogate, now untethered from work.

All of these things get easier with age. Financial independence is necessary, but not sufficient. It is regrettable, that as younger-people we spend so much attention on the FI part, expecting the RE part to take care of itself. It does not! But one gathers, that it does get better with age!

 

[Harris4crna]

I semi retired at 48yo. I am now 51. I personally have had issues with the transition. Going back to part time has been therapeutic. Plus, DW wants to work until she drops dead. Here is the kicker, I've made more money retired than I ever did working. Naturally, picking good investments has made it work. I'll continue to work, but I may adventure out to seek an alternative I purpose. That may be all I need. Thanks for sharing your journey.

 

[SJhawkins]

NielDH, thanks for the update, it does really make a difference for us that are no to far behind you. Thanks to other who posted as well.

Mid 50s here and at times it feels like a I'm sitting on a teeter totter for days, keep working, quit altogether, pick up some part time gig not related to my current gig, etc. Sure I'm not the only person who has had the same feelings. The date on the calendar is still two years out and some change, I will admit I don't see going that long!