Struggling to get off the OMY bandwagon

[RobbieB]

Yeah, keep on working down that path. Another year another $300/mo. Don't leave that money on the table.

Just kidding, I left the year end bonus on the table, about 10 grand. No regrets.

 

[GenXguy]

Just do what you think is best for you, which is what you will do anyway, regardless of what everyone else says.

I've already chosen to go OMY four straight years, myself. With the way inflation took off, it's a good thing.

 

[G POP]

Just do what you think is best for you, which is what you will do anyway, regardless of what everyone else says.

I've already chosen to go OMY four straight years, myself. With the way inflation took off, it's a good thing.

^Agree. You are going to do what you are going to do. At 56, I am starting a new gig on 6 Septemebr. Low 6 figures, work from home on a project that fascinates me. I resigned at the end of April from my last gig. Wrong job and needed a break. But, here I am, DW (50) still working and wants to go to 55. So I will take this easy gig and see how it goes. Supporting one person on one item should keep me busy maybe 10 hours per week. Go into the office maybe once per week (if that often) for a meeting. Been FI for over 10 years already. Just padding the stash. In the past year while working we went to Maine (x2), Roatan, ST. Croix (x2), VT, PA, VA Beach, San Diego (x2), NW Arkansas (x4) and North Carolina. This year will not be as busy becasue DD is getting married in November. I foresee still being able to clean the house, mow the lawn and do my other chores while working from home. We'll see how it goes. Go luck to you OP.

 

[DawgMan]

^Agree. You are going to do what you are going to do. At 56, I am starting a new gig on 6 Septemebr. Low 6 figures, work from home on a project that fascinates me. I resigned at the end of April from my last gig. Wrong job and needed a break. But, here I am, DW (50) still working and wants to go to 55. So I will take this easy gig and see how it goes. Supporting one person on one item should keep me busy maybe 10 hours per week. Go into the office maybe once per week (if that often) for a meeting. Been FI for over 10 years already. Just padding the stash. In the past year while working we went to Maine (x2), Roatan, ST. Croix (x2), VT, PA, VA Beach, San Diego (x2), NW Arkansas (x4) and North Carolina. This year will not be as busy becasue DD is getting married in November. I foresee still being able to clean the house, mow the lawn and do my other chores while working from home. We'll see how it goes. Go luck to you OP.

Dawgs rule!

You do you!

It can take min. You know when you know.

Peace out!

 

[skyking1]

I get the same $300 a month each year forward, plus another ~150 until I reach 65. I'm not going to get there, but I see the difficulty. Keep after it, OP. You'll get in the retirement headspace.

 

[CarbonaNotGlue]

Just a quick update - The struggle is over and today I gave my final notice! Amazing how everything seems to fall away once the ripcord is pulled. Now, I’m really excited about this new phase of my life and am thankful to all that helped get me here! Wishing all of you equally well on your journeys.

 

[RetiredAt49]

Just a quick update - The struggle is over and today I gave my final notice! Amazing how everything seems to fall away once the ripcord is pulled. Now, I’m really excited about this new phase of my life and am thankful to all that helped get me here! Wishing all of you equally well on your journeys.

Congrats!

 

[street]

Just a quick update - The struggle is over and today I gave my final notice! Amazing how everything seems to fall away once the ripcord is pulled. Now, I’m really excited about this new phase of my life and am thankful to all that helped get me here! Wishing all of you equally well on your journeys.

Like I learned from the great people here, retirement isn't the end but the start. You will soon find out that reality of that new journey in whatever you want to do.
Retirement wasn't one of the hardest things I had to do. Throwing in the towel and leaving all that money and great job behind was tough but now I see it as a very wise decision the older I get.

 

[brett]

My employer made this decision for me in terms of a golden handshake at 58/59. I had been waiting and hoping for the previous 18 months and fortunately it happened.

I made the decision to FIRE rather than work elsewhere. Best decision ever.

Since retiring early we have downsized, we have been travelling internationally for at four months a year (other than during covid). Our investment account has increased, not withstanding the recent dip. Our health has improved. Lost weight, changed what and how we eat.

Looking back...four of my former colleagues have passed away. Three in their early sixties prior to retiring, the fourth six months after his retirement at age 65. That was an eye opener for me.

So, I say to anyone who asks....get your affairs in order. Forget the one more year business and plan a retirement based on some years, hopefully many, of good health. There may not be that many left so don't gamble with your quality time.

My father set the example for me. He retired at 58. His contemporaries we shocked. He had a long, healthy retirement outliving most of his friends. He was in an industry, where at the time of his retirement, the average lifespan of company pensioners was 68/69. He made it to 87.

 

[11522914]

Just a quick update - The struggle is over and today I gave my final notice! Amazing how everything seems to fall away once the ripcord is pulled. Now, I’m really excited about this new phase of my life and am thankful to all that helped get me here! Wishing all of you equally well on your journeys.

Congrats.

If you run the numbers and they work for you then retire.

Life is way too short. I was very nervous 4 years ago when I retired at 58 1/2. I had an issue at work causing enormous stress and retired 1 1/2 years earlier than planned. Reduced my budget to accommodate, although I didn't really need to.

Turns out everything worked out just fine. We've been below budget every year for 4 years. And still living the same if not better lifestyle while working. I did build in a lot of discretionary items.

 

[brett]

It is incredibly amazing once you make the decision. Everything changes.

Right after our decision my spouse and I sat down. Within fifteen minutes we had decided to get our home ready to sell.

The next decision came ten minutes later. We decided to place all of our downsized possessions in a storage container and travel for six months. Then come home, rent for a while until we decided where we wanted to live and what type of home we wanted next.

Looking back those, and the follow on decisions seemed so easy to make. I did not have a job or any other strings in the way. We were free to make any decisions that we wanted with almost no strings.

 

[pacergal]

Congratulations on your retirement!

 

[Jimonlimon]

At some point you are trading time you will never get back for dollars you will never spend. Think about that, it takes a while to fully recognize what it actually means.

This whole thread, really resonated with me, but especially this quote. Thank you and I will think about it. I’m on the fence between retiring this year or OMY.