Hello All,
I found this site some time ago, posted an introduction and then lost touch with it. I am back, and after reading through many well written and insightful posts and threads, thought this might again be a great place to contribute and bounce a few ideas against.
I just turned 40, am single with a live in GF, and with no kids...and for about the last ten years or so (thanks to YMOYL and the availability of sites like this one) have been introduced and fascinated with the concept of early retirement. At the same time, I have saved and invested diligently and built a next egg that I think is fairly respectable for someone my age who basically started with nothing (net worth appx: $1.8 million); although, I must admit that I have not adhered to as strict a budget that I see from others . I do live in a nice place, eat out somewhat frequently (ok, I am hooked on Groupon!), and travel as much as I can. I always knew that at some point, I would hit a spot where deciding to downsize and reign in some spending would be weighed against continuing to work.
My career (job) is relatively lucrative and affords me some level of autonomy (travel, work from home, etc..) that many others do not; but, it's constantly busy and consuming, and the expectation of continued employment is that you simply keep up the pace and earn your hefty paychecks. There are many evenings and weekends that I find myself sitting with my laptop doing work, and this is not uncommon in my work peer group.
So, with all of that, my goal for several years was to simply accrue enough money to "get out" and according to many models I am probably there now. Over the next several months, I may even have the opportunity to take a severance package equal to around a year of pay. At the same time, it seems my attitudes on work and retirement have changed a bit.
I think my new definition of retirement, is not to having simply stopped working; but, when one no longer works because they need the money. I guess, to me, the concepts of financial independence and retirement are mostly the same thing. I think I will always want to be "working" at or on something that interests me and whether I get paid for it or not is really irrelevent.
That said, now that I am somewhere in the realm of FI, I am beginning to think more about what I might do with my time post corporate world..if I would feel a weight being lifted off my shoulders and be able to engrosss myself in my many interests or if I might actually miss being a part of the action on a daily basis. Every year I continue to engage in "the grind" of my job is another $100K in the bank and now that I have reached many of my financial goals am having a hard time conceiving of pulling the trigger and giving up my salary. It all seemed much simpler years ago when $1 Million seemed a pipedream and if I ever made it there I was going to quit working that day!
How about that for a rambling introduction. I'd love to hear some perspective from any of you that would care to respond and I look forward to making these forums a more regular part of my reading.
Chris.
I found this site some time ago, posted an introduction and then lost touch with it. I am back, and after reading through many well written and insightful posts and threads, thought this might again be a great place to contribute and bounce a few ideas against.
I just turned 40, am single with a live in GF, and with no kids...and for about the last ten years or so (thanks to YMOYL and the availability of sites like this one) have been introduced and fascinated with the concept of early retirement. At the same time, I have saved and invested diligently and built a next egg that I think is fairly respectable for someone my age who basically started with nothing (net worth appx: $1.8 million); although, I must admit that I have not adhered to as strict a budget that I see from others . I do live in a nice place, eat out somewhat frequently (ok, I am hooked on Groupon!), and travel as much as I can. I always knew that at some point, I would hit a spot where deciding to downsize and reign in some spending would be weighed against continuing to work.
My career (job) is relatively lucrative and affords me some level of autonomy (travel, work from home, etc..) that many others do not; but, it's constantly busy and consuming, and the expectation of continued employment is that you simply keep up the pace and earn your hefty paychecks. There are many evenings and weekends that I find myself sitting with my laptop doing work, and this is not uncommon in my work peer group.
So, with all of that, my goal for several years was to simply accrue enough money to "get out" and according to many models I am probably there now. Over the next several months, I may even have the opportunity to take a severance package equal to around a year of pay. At the same time, it seems my attitudes on work and retirement have changed a bit.
I think my new definition of retirement, is not to having simply stopped working; but, when one no longer works because they need the money. I guess, to me, the concepts of financial independence and retirement are mostly the same thing. I think I will always want to be "working" at or on something that interests me and whether I get paid for it or not is really irrelevent.
That said, now that I am somewhere in the realm of FI, I am beginning to think more about what I might do with my time post corporate world..if I would feel a weight being lifted off my shoulders and be able to engrosss myself in my many interests or if I might actually miss being a part of the action on a daily basis. Every year I continue to engage in "the grind" of my job is another $100K in the bank and now that I have reached many of my financial goals am having a hard time conceiving of pulling the trigger and giving up my salary. It all seemed much simpler years ago when $1 Million seemed a pipedream and if I ever made it there I was going to quit working that day!
How about that for a rambling introduction. I'd love to hear some perspective from any of you that would care to respond and I look forward to making these forums a more regular part of my reading.
Chris.