Retired in your late 40s or early 50s?

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blahblahsunshine
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Retired in your late 40s or early 50s?

Post by blahblahsunshine » Sun Dec 02, 2018 6:56 pm

I am getting close to changing things up and moving into the life that comes after I end my primary vocation. We spend a lot of time contemplating the math around retirement (and with good reason), but have noticed there is a conspicuous lack of discussion around the life after. I am in my late 40s with a DW in her mid 50s.

To those of you who have retired or moved on to act 2 what has the trip been like? Did you have a plan about what you were going to do when you retired? Did it work out as expected? Or maybe you figured things would sort themselves out in the life after? How did it all work out?

We are mostly thinking the plans will find us; we aren't often bored.

Are you still stoked about the decision you made to retire somewhat early? Wish you worked longer or miss work? Wish you had punched out even earlier?

I am so curious to hear what the road ahead holds from some of those who have walked it before me. :D

Please share your story!

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Re: Retired in your late 40s or early 50s?

Post by Duckie » Sun Dec 02, 2018 7:14 pm

blahblahsunshine wrote:To those of you who have retired or moved on to act 2 what has the trip been like? Did you have a plan about what you were going to do when you retired? Did it work out as expected? Or maybe you figured things would sort themselves out in the life after? How did it all work out?
I retired 12 years ago at age 50. I expected to do the same things I always did in my spare time only more so and that's exactly what happened.
We are mostly thinking the plans will find us; we aren't often bored.
I am rarely bored. Many days I run out of time to do all my "fun" activities.
Are you still stoked about the decision you made to retire somewhat early?
I don't know about "stoked", but it was right decision.
Wish you worked longer or miss work?
Oh god, no.
Wish you had punched out even earlier?
I couldn't afford to quit earlier.

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Re: Retired in your late 40s or early 50s?

Post by Smoke » Sun Dec 02, 2018 7:28 pm

Retired 14 yrs ago at age 50.
Not one regret, got the h e l l out and have done whatever I want to do each day as it comes.
No plans, I am an expert at doing nothing, or rather what main stream society thinks is nothing.
Lots of online time searching for whatever comes to mind. Lots of time to think of stuff.
I would have retired earlier IF it was possible. Had to put in 30 yrs, as it was I got a break as they came out with a deal to retire at 26 yrs IF 50 or over.
I turned 50, 3 months earlier with 27.5 years.
I put the paperwork in the next day.

:sharebeer
Arguing for the sake of arguing is something I am not going to engage in.

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Re: Retired in your late 40s or early 50s?

Post by J295 » Sun Dec 02, 2018 8:26 pm

Transitioned to part time professional at age 53, and fully retired at 59. It’s not for everyone, but I knew it was right for us. It has turned out to be even better than expected.

Had no specific plans when making the transition, but have enjoyed a full and fulfilling adventure sense the transition.

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Re: Retired in your late 40s or early 50s?

Post by goodenyou » Sun Dec 02, 2018 8:35 pm

Realizing that I could retire when I hit 50, and not have to accumulate savings or payoff debt, was enough for me. I now have a different attitude about work and the people that I have to deal with on an everyday basis.
"Ignorance more frequently begets confidence than does knowledge" | Do you know how to make a rain dance work? Dance until it rains.

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Re: Retired in your late 40s or early 50s?

Post by euroswiss » Sun Dec 02, 2018 8:43 pm

Retired from a great job three years ago at age 56. No regrets!

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Re: Retired in your late 40s or early 50s?

Post by FXDXontherun » Sun Dec 02, 2018 8:57 pm

I'm a bit older but, my wife and I both retired 2.5 years ago within 30 days of each other, I'm 62 now, her 61-1/2. We worked hard, lived below our means and was able to financially do it. Looking back I miss some of the people I worked with and being involved with the various projects on a daily basis, but due to business politics, lack or work/life balance, and the company I worked for always wanting you to do more with less, I made the right decision to leave, my wife was in the same situation.
I have lots of hobbies and can be as busy as I want to be so I'm good. My wife has no hobbies to speak of but we have three grand kids so that keeps us both busy.
After 2.5 years of retirement, I have concluded the following; If you are in good health, enjoy your job and the people you work with, and gain satisfaction from your job, (and depending on your age), I'd consider working a bit longer, maybe part time if possible.
I have average health, and was teetering on burnout after my primary 31 year career in sales/sales management and didn't want to die from a heart attack at my desk. I did the right thing in bailing out when I did.
Good luck with your decision.

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Re: Retired in your late 40s or early 50s?

Post by cheese_breath » Sun Dec 02, 2018 11:08 pm

Retired 21 years ago at age 56. Everything was fine for first 20 years. Didn't worry about filling the time, just did what we wanted when we wanted to do it. And for those who think you have to fill every retirement minute with some fantastic adventure, I disagree. We still took some vacations, but there's nothing wrong with relaxing at home in front of the boob tube, dinner and a movie, reading some good books or whatever else you like.

Unfortunately the fun ended last year when DW suffered a major stroke. Since then it's been shuttling between hospitals and nursing homes. But if I'd waited longer to retire that's so many less years we would have had together.
The surest way to know the future is when it becomes the past.

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Re: Retired in your late 40s or early 50s?

Post by dcop » Mon Dec 03, 2018 12:01 am

Retired in May at 59 and now live full time in Mazatlan, Mexico 1 block from the ocean. Love it. Rent 250 USD give or take depending on the exchange rate. I inline skate a couple hours in the morning, sometimes surf fish a couple hours, go for a run after sunset and usually hang out somewhere outside in the evenings after my shower. Occasionally I'll lay in bed with my laptop and coffee and mango until about noon or 1. January I'm going to Manta Ecuador for 3 weeks for under 650 usd not including what I spend. Would I have retired if I stayed living in Wisconsin? Not a chance I would have been too bored.

Yes I do wish I would have punched out earlier but I wanted to ride out the bull market longer while still contributing to the pre-tax plans. But there comes a time when you start thinking 'ok lets see, if I'm, lucky enough to live to 75 and I can afford to retire why not have 16 years of decent retirement rather than 10 if I retire at 65'". I will never miss working I know that for sure and I even had a gravy train job in IT. Even when I just spend a day doing nothing but lounging the time goes fast, too fast.

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Re: Retired in your late 40s or early 50s?

Post by scrabbler1 » Mon Dec 03, 2018 12:05 am

I retired 10 years ago at age 45 after working 23 years full-time and 7 years part-time. The transition from full-time to part-time was more important because it was at that time I regained control over my personal life. This included resurrecting old hobbies and starting some new ones.

But the best part was reducing the long, awful commute, then eliminating it when I retired. Furthermore, being single and childfree meant that I could combine my personal freedom with economic freedom to come and go as I please.

I had some health issues 3 years ago which landed me in the hospital for 12 days. Being retired was crucial to getting back into good health because I was able to devote 100% of my time and effort into fighting that battle.

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Re: Retired in your late 40s or early 50s?

Post by quantAndHold » Mon Dec 03, 2018 12:21 am

Retired two years ago in my early 50’s. When I retired I was having health problems from a combination of stress and sitting at a desk for 30 years. I spent the first six months doing physical therapy and going to the doctor. Now I feel good, train like an Olympic athlete, and we travel anywhere in the world we want to go, for as long as we want to go. We were on a three month long trip recently. I was talking to someone along the way, describing our trip. She said, “I wish I could take a vacation like that.” It isn’t a vacation for us. It’s our life.

No regrets.

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Re: Retired in your late 40s or early 50s?

Post by truenorth418 » Mon Dec 03, 2018 3:12 am

I retired 7 years ago at age 47. It was a great decision and I have never regretted it. There is no reason to fear being bored or anything like that. To me, being bored in retirement just means a lack of imagination and creativity. Retirement opens up so many opportunities. You can even go out and get another job if that's what you want to do.

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Re: Retired in your late 40s or early 50s?

Post by gotester2000 » Mon Dec 03, 2018 5:11 am

Smoke wrote:
Sun Dec 02, 2018 7:28 pm

No plans, I am an expert at doing nothing, or rather what main stream society thinks is nothing.

:sharebeer
:sharebeer In my work life I found many experts at doing nothing - most of them were layers above me!

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Re: Retired in your late 40s or early 50s?

Post by Hyperborea » Mon Dec 03, 2018 5:53 am

I retired just over 2 years ago at 51. I haven't regretted it at all. We spent about a year and a half in place doing things we wanted to do in the Bay Area and cleaning out the house. I think the unwind time in place was really important. It took at least a year before I mostly decompressed.

We are in Japan right now and I'm going to language school full time. It's something I've wanted to do for a long time. We are trying to use the early years of retirement while we are still young(-ish) to do the bit more "wilder" things and live for longer periods of time in a few locations before we get too old and slow down. We have a couple of more potential destinations after Japan though those can change.

I sometimes think I should have pulled out a few years earlier. At this point it certainly looks like it could have been financially possible. There were certain things that I wish I could have done (e.g spent more time with my dad before he passed). However, I'm only two years in and I really won't know for a while if the money would have been enough. Though I suppose as others say you make it work - the amount you spend is adapted to the amount you have. The last few years were certainly lucrative and have given us a fair bit of discretionary budget. But we will have the probable expense of a home at some point in the future.

I think the boredom issue is really something from within. Are you curious about the world around you? Do you want to learn and experience things? I remember as a young kid there were lots of other kids who over the summer got bored and had nothing to do. While I was good at school and enjoyed it, I was never really bored over the summer. I think the same division applies in retirement. Which kind of kid were you?

We have plans but as my sig quote says they are worthless. The planning exercise is the valuable part. Make the plans and learn about what you think you want to do but then live it as it comes. You shouldn't rigidly follow any fixed plan. The future 55 or 65 year old me is not bound to do anything the 53 year old me decides.
It’s hard to win an argument with a smart person, it's damn near impossible to win an argument with a stupid person. - Bill Murray

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Re: Retired in your late 40s or early 50s?

Post by Blues » Mon Dec 03, 2018 8:37 am

Retired 15 years ago at age 51. Have never regretted that decision, not even for a moment.

Our numbers, financially, have only gotten better and it's great to be able to conduct our lives according to our own wants and desires. 8-)

One of the very best decisions I ever made. :beer
“Tactics without strategy is the noise before defeat.” - Sun Tzu | "Everybody has a plan until they get punched in the mouth." - Mike Tyson

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Re: Retired in your late 40s or early 50s?

Post by Smoke » Mon Dec 03, 2018 9:56 am

gotester2000 wrote:
Mon Dec 03, 2018 5:11 am
Smoke wrote:
Sun Dec 02, 2018 7:28 pm

No plans, I am an expert at doing nothing, or rather what main stream society thinks is nothing.

:sharebeer
:sharebeer In my work life I found many experts at doing nothing - most of them were layers above me!
Never thought of it like that, So I should look at retirement as a promotion :D
Arguing for the sake of arguing is something I am not going to engage in.

btenny
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Re: Retired in your late 40s or early 50s?

Post by btenny » Mon Dec 03, 2018 11:50 am

I retired 19 years ago at 52 from Big Corp. The trip has been great and doing early retirement was one of the best decisions of my life. In my case my big company offered a RIF parachute for senior employees that I qualified for. So I did not plan to retire early until this RIF thing was offered and for me it was a good deal. So I retired.

The trip for me has been great. I had to down size my home since kids were grown (I wanted to anyway) and sell some investment real estate and learn about Bogleheads to make the $$ work. Getting all that done was complex and nerve wracking and took 3+ years but it all worked out fine. I also took a play job (ski instructor) for 5 winters to keep busy and have fun and also make a little money. My wife kept working for 3 more years and then she retired as well. Now we keep busy with skiing and other activities and travel and friends. Financially I spent about 3.5% to 4% of my portfolio and that worked out well even with two big recessions.

Do not be nervous about retiring early. Most people who have a good long range $$ plan that includes inflation protection and medical stuff will be fine.

Good Luck.

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Re: Retired in your late 40s or early 50s?

Post by sergio » Mon Dec 03, 2018 2:57 pm

dcop wrote:
Mon Dec 03, 2018 12:01 am
Retired in May at 59 and now live full time in Mazatlan, Mexico 1 block from the ocean. Love it. Rent 250 USD give or take depending on the exchange rate. I inline skate a couple hours in the morning, sometimes surf fish a couple hours, go for a run after sunset and usually hang out somewhere outside in the evenings after my shower. Occasionally I'll lay in bed with my laptop and coffee and mango until about noon or 1. January I'm going to Manta Ecuador for 3 weeks for under 650 usd not including what I spend. Would I have retired if I stayed living in Wisconsin? Not a chance I would have been too bored.

Yes I do wish I would have punched out earlier but I wanted to ride out the bull market longer while still contributing to the pre-tax plans. But there comes a time when you start thinking 'ok lets see, if I'm, lucky enough to live to 75 and I can afford to retire why not have 16 years of decent retirement rather than 10 if I retire at 65'". I will never miss working I know that for sure and I even had a gravy train job in IT. Even when I just spend a day doing nothing but lounging the time goes fast, too fast.
This is one of the most inspiring things I have read in a while ...

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Re: Retired in your late 40s or early 50s?

Post by Bacchus01 » Mon Dec 03, 2018 3:54 pm

I was reading this thread thinking “I need to pick up some good advice for when I’m in my late 40s or early 50s” to retire.

Then I realized I’m 45 and wife is 50 in January and we are already in this group.

I’m looking long and hard at retirement at 47.

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Re: Retired in your late 40s or early 50s?

Post by Blueraidermike » Mon Dec 03, 2018 4:05 pm

I am semi retired at 54...I work about 20 hours a week, sometime less...I will be fully retired in 18 months. Just maxing out some opportunities.

I admit that I am a little restless...some of us need to plan our day during retirement like we do for work - on some days I do admit I find myself lost. Most of my friends are not retired...so I find myself playing golf with men in their 70s (which has been fun).

So my answer is - TBD. What's funny is my wife, who is 50 is just starting work and wants to after being a stay at home mom.

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Re: Retired in your late 40s or early 50s?

Post by mchop » Mon Dec 03, 2018 4:14 pm

I read this thread with interest as we are in the same boat as you.

Both wife and myself are 48 and are now actively planning for the next phase of our lives.

We recently downsized our house with the aim of being able to invest $200+K from the sale and save $7k in annual expenses as a result of living in a smaller house (County taxes / utilities / maintenance).

I am coming off a 6 month sabbatical which i highly recomend for anyone considering retiring early. This was a highly fulfilling and rewarding experience. I kept myself busy and never once felt like i was bored despite not undertaking any major trips. My wife kept working (for health coverage) and yet i stuck to my schedule of waking early and making coffee and starting my day with her....I was nervous that i would get lazy and bored and end up wasting my time.

I am now obsessed and excited about planning for the future

I am going to look at any potential part time consulting work for preferably 3-4 months a year. This will be key for being able to make this happen asap.

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Re: Retired in your late 40s or early 50s?

Post by PQ12$ » Mon Dec 03, 2018 5:18 pm

56 and quasi retired, with wife working full time for the next 6-7 years for health insurance and because she loves it. Thats definitely a factor in my uneasiness with this state in life - we're not in the same place in our lives.

I think alot of us end up retired sooner than we thought by circumstance or luck. I am consulting now but still not really comfortable with the lack of a clear cut purpose to my life. My primary vocation 1. as Father to 3 kids (now up and out) and 2. as President/part owner of a marketing firm ended about the same time. Kids are doing fine without us, as is my former biz.

I am consulting 20-30 hours per week and that is fun but still feel professionally and personally in-between, and looking for something as big and meaningful as vocation 1 & 2 to devote some prime years. Not ready to golf all day or drink margaritas but also not ready to sign up for something intense.

I'm financially secure and thankful, but just feel in-between -- looking for a noble purpose to devote the next 10 years to, honestly. Then I'll maybe be ready to focus on relaxing.

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Re: Retired in your late 40s or early 50s?

Post by bg5 » Mon Dec 03, 2018 5:45 pm

It appears the vast majority wish they could of retired earlier. This is great news as I have plenty of stuff to keep me busy when I am done working. Golfing, Fishing, and officiating sports will put a huge smile on my face and keep me busy.

As of now it looks like I will be able to retire at 49 if I play my cards right and worse case scenario 52. Not to shabby in my opinion and reading this has me justifying putting so much into retirement. My family and I take 2 nice vacations a year so we are def still experiencing life but we also live within our means. Be able to retire around 50 seems like something that will be pretty cool

I love reading all of these posts. Keep them coming :)

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Re: Retired in your late 40s or early 50s?

Post by BobDaBlob » Mon Dec 03, 2018 6:35 pm

Great post and replies!
I will be 54 at the end of this month and DW turned 54 last month. We are financially secure. DW works a couple of small gigs and enjoys herself.
However, I have become increasingly fed up with my career in IT, so have been giving serious thought to "early retirement"...taking some time to decompress and get my head straight, enjoying my few hobbies and learning some new ones, and figuring out what I/we want to do next.
As has been said...no one ever lay on their death-bed saying "I wish I spent more time at work"!
Too much of everything is just enough...

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Re: Retired in your late 40s or early 50s?

Post by lostdog » Mon Dec 03, 2018 10:24 pm

No more TPS reports for me. Bye bye grey cubicles and TPS reports.

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Re: Retired in your late 40s or early 50s?

Post by stufunds » Tue Dec 04, 2018 12:10 am

blahblahsunshine wrote:
Sun Dec 02, 2018 6:56 pm
We are mostly thinking the plans will find us; we aren't often bored.
I certainly agree with the sentiment.

I retired early nearly seven years ago at the age of 47 after twenty years of working in finance and IT in the financial services industry. I’ve never been married and don’t have any children.

In retrospect, I did not have a solid or detailed post-career plan. However, I was reasonably certain that I could support myself for the rest of my life without any additional earned income.

I do a fair amount of volunteer work, most of it by writing from my desk at home. I’ve been traveling domestically several times a year, and I’ve started to make a couple of international trips a year. I’m also trying to become a better photographer.

My earned income has been negligible, but my finances are in better shape now than they were seven years ago (knock on wood).

My local social circle has diminished greatly since I retired early. There may be a causal relation between the two.
blahblahsunshine wrote:
Sun Dec 02, 2018 6:56 pm
Are you still stoked about the decision you made to retire somewhat early?
For me, there was no single, clear-cut decision point. What started out 28 years ago as a decision to save and invest enough for a comfortable living at normal retirement age eventually evolved into a decision to publicly admit – five years after I’d left the working world – that I had retired early.

I’ve never really been “stoked” about retiring early. However, I am stoked that I made all of the decisions and did all of the things that were necessary to become financially independent and have the means to retire early.

I feel the lifestyle suits me, but it certainly is not for everybody.

I’ve never wished that I’d worked longer. Sometimes I’ve even thought that I should have left a couple of years earlier than I did.

For me, it’s not so much a question of missing or not missing work. It’s more that I haven’t been able to imagine going back.
Save Early, Save Often

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Re: Retired in your late 40s or early 50s?

Post by WanderingDoc » Tue Dec 04, 2018 12:46 am

dcop wrote:
Mon Dec 03, 2018 12:01 am
Retired in May at 59 and now live full time in Mazatlan, Mexico 1 block from the ocean. Love it. Rent 250 USD give or take depending on the exchange rate. I inline skate a couple hours in the morning, sometimes surf fish a couple hours, go for a run after sunset and usually hang out somewhere outside in the evenings after my shower. Occasionally I'll lay in bed with my laptop and coffee and mango until about noon or 1. January I'm going to Manta Ecuador for 3 weeks for under 650 usd not including what I spend. Would I have retired if I stayed living in Wisconsin? Not a chance I would have been too bored.

Yes I do wish I would have punched out earlier but I wanted to ride out the bull market longer while still contributing to the pre-tax plans. But there comes a time when you start thinking 'ok lets see, if I'm, lucky enough to live to 75 and I can afford to retire why not have 16 years of decent retirement rather than 10 if I retire at 65'". I will never miss working I know that for sure and I even had a gravy train job in IT. Even when I just spend a day doing nothing but lounging the time goes fast, too fast.
If you pay $250/mo. in rent you could have retired at 30. Not sure why you waited so long. In any case, enjoy!
I'm not looking to get rich quick (stocks), I'm not looking to get rich slow (indexing), I'm looking to get rich, for sure (real estate) | Don't wait to buy real estate. Buy real estate.. and wait.

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Re: Retired in your late 40s or early 50s?

Post by dcop » Tue Dec 04, 2018 12:59 am

WanderingDoc wrote:
Tue Dec 04, 2018 12:46 am
If you pay $250/mo. in rent you could have retired at 30. Not sure why you waited so long. In any case, enjoy!
LOL. Actually I couldn't of because I was married with 2 kids and a Networth of about 70k. But after I was divorced at 39 I went on a mission to build a networth of 1M and actually hit 1.8M. Not re-marrying (altho came close twice) , maxing out my tax-deferred accounts , vacationing in Mexico 3 times every winter (about $1200 per trip and meeting/making countless friends over those trips) and driving the same car for 21 years were choices that made everything fall in place for me.

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Re: Retired in your late 40s or early 50s?

Post by WanderingDoc » Tue Dec 04, 2018 1:50 am

dcop wrote:
Tue Dec 04, 2018 12:59 am
WanderingDoc wrote:
Tue Dec 04, 2018 12:46 am
If you pay $250/mo. in rent you could have retired at 30. Not sure why you waited so long. In any case, enjoy!
LOL. Actually I couldn't of because I was married with 2 kids and a Networth of about 70k. But after I was divorced at 39 I went on a mission to build a networth of 1M and actually hit 1.8M. Not re-marrying (altho came close twice) , maxing out my tax-deferred accounts , vacationing in Mexico 3 times every winter (about $1200 per trip and meeting/making countless friends over those trips) and driving the same car for 21 years were choices that made everything fall in place for me.
Wise man. Don't make the same mistake thrice! ;)

Asia (many places) is a phenomenal place to live, visit, work, and retire, but lately I've heard great things about Mexico too!
I'm not looking to get rich quick (stocks), I'm not looking to get rich slow (indexing), I'm looking to get rich, for sure (real estate) | Don't wait to buy real estate. Buy real estate.. and wait.

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Re: Retired in your late 40s or early 50s?

Post by mlebuf » Tue Dec 04, 2018 2:51 am

I had two overlapping careers: One as a university professor from 1969'-'89 and another as a writer of business trade books that evolved into speaking, consulting, audio and video programs. I began the teaching career at age 27 in 1969, and started moonlighting as a writer at 35 in 1977. The short-term goal in writing was to supplement my university salary being eroded by very small raises and the stagflation of the times. The long-term goal was to retire from Academia ASAP. Had someone asked me when I started writing, "When would you like to leave the ivory tower?" my answer would have been, "What time is it?"

Of course, I could have thrown caution to the winds and quit teaching at any time, but I'm not stupid. Why throw away a steady paycheck and good health care for working 32 weeks a year? Teaching paid the bills while I moonlighted and dreamed of bigger things. I was tenured and to paraphrase "Love Story" author Eric Segal, "Tenure means never having to say you're sorry."

While there were some trying times, the second career did precisely what I hoped it would do. It compensated for my deteriorating university salary in the early years and created some enormous windfalls in the later years. On top of that, by sheer luck the university retirement system was changed in 1981 allowing faculty with 20 years of service to retire regardless of age. That meant I could retire at age 47 with 40 percent of my ever-diminishing 9-month salary and inexpensive health care for life. I remember thinking to myself, "'Til death or 1989, whichever comes first, do us part."

In 1985, I had a book coming out titled, "GMP: The Greatest Management Principle in the World." The publisher had a huge first printing and my agents sold the foreign rights to publishers in over 12 languages. I knew it would generate a lot of speaking business, so I asked the university for a year's leave of absence without pay. They agreed. I learned that if I contributed my share plus the university's share of retirement for the year I was absent, I could still retire in 1989. I did that, requested a second year's leave of absence and got that. That left me with two years of teaching to get early retirement. I wanted to do a third year's leave but the university declined this time. After being off for 2 years, going back was not fun. As I told one of my colleagues, "It's not a job it’s a sentence."

During my second year of absence I wrote a book titled, "How to Win Customers and Keep Them for Life." It came out in December 1987 when I was 3 semesters away from retirement. The timing could not have been better. It was a huge success. The last calendar year I taught was 1988 and my university salary was 11 percent of my income. When I went on the road speaking, I hired a former student who was a professor across town to take my classes. On the day my last class ever was meeting, I was being paid to speak on a one week Caribbean cruise. It made for a memorable exit.

After retiring from academic life, I continued speaking and writing until 1995. During those high-income years, I didn't change my lifestyle in order to accumulate a nice retirement nest egg. My goal all along was to write my last book by age 60. In 1994 I met my future and current wife, Elke. We married and moved to Arizona in 1996. After moving to Arizona, I wrote, “The Millionaire in You” at age 59, and later co-authored, “The Bogleheads’ Guide to investing.” Life is wonderful and we haven't missed a meal yet.

To answer your questions: I'm very happy that I retired from both careers when I did. Had I been able to punch out sooner, would I have done so? In the case of academia: hell yes. As for the writing, speaking, etc. I backed off at 54 and have pretty much been smelling the roses ever since.
Best wishes, | Michael | | Invest your time actively and your money passively.

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Re: Retired in your late 40s or early 50s?

Post by ymarkley » Tue Dec 04, 2018 8:44 am

I turned 50 this year and my calculations show that I could retire. I also have a 14 year old bundle of hormones that is inhabiting a bedroom in our house. When I brought up the possibility of removing the noose around my neck for a life of leisure my wife gave me one of her classic ‘are you crazy’ stern gazes, and proclaimed that it is weird to retire when you still have a child in high school. She subsequently sat me in the corner and put the brakes on my plans for the next 4 years. She is a year behind me, loves her job, and is by far the best thing that has ever happened to my sorry ass. So cutting ties for a hedonistic lifestyle of wine, women, and song is probably a bad move. My customers would probably show up at my funeral on the off chance that I may spring back to life and could fix their problems, so little chance I will get kicked to the curb.

I just want to be like Dcop and move to Mexico so I can, “lay in bed with my laptop and coffee and mango until about noon or 1”. I curse the day I have read this thread! I now find myself daydreaming of palm trees and fruity drink umbrellas as I slug through rush hour traffic in the snowy grey environment that is slowly smothering my soul. :annoyed

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Re: Retired in your late 40s or early 50s?

Post by dziuniek » Tue Dec 04, 2018 9:14 am

ymarkley wrote:
Tue Dec 04, 2018 8:44 am
I turned 50 this year and my calculations show that I could retire. I also have a 14 year old bundle of hormones that is inhabiting a bedroom in our house. When I brought up the possibility of removing the noose around my neck for a life of leisure my wife gave me one of her classic ‘are you crazy’ stern gazes, and proclaimed that it is weird to retire when you still have a child in high school. She subsequently sat me in the corner and put the brakes on my plans for the next 4 years. She is a year behind me, loves her job, and is by far the best thing that has ever happened to my sorry ass. So cutting ties for a hedonistic lifestyle of wine, women, and song is probably a bad move. My customers would probably show up at my funeral on the off chance that I may spring back to life and could fix their problems, so little chance I will get kicked to the curb.

I just want to be like Dcop and move to Mexico so I can, “lay in bed with my laptop and coffee and mango until about noon or 1”. I curse the day I have read this thread! I now find myself daydreaming of palm trees and fruity drink umbrellas as I slug through rush hour traffic in the snowy grey environment that is slowly smothering my soul. :annoyed
- boarding school & divorce

... hello margaritaville!

Haha :twisted:

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goodenyou
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Re: Retired in your late 40s or early 50s?

Post by goodenyou » Tue Dec 04, 2018 9:30 am

ymarkley wrote:
Tue Dec 04, 2018 8:44 am
I turned 50 this year and my calculations show that I could retire. I also have a 14 year old bundle of hormones that is inhabiting a bedroom in our house. When I brought up the possibility of removing the noose around my neck for a life of leisure my wife gave me one of her classic ‘are you crazy’ stern gazes, and proclaimed that it is weird to retire when you still have a child in high school. She subsequently sat me in the corner and put the brakes on my plans for the next 4 years. She is a year behind me, loves her job, and is by far the best thing that has ever happened to my sorry ass. So cutting ties for a hedonistic lifestyle of wine, women, and song is probably a bad move. My customers would probably show up at my funeral on the off chance that I may spring back to life and could fix their problems, so little chance I will get kicked to the curb.

I just want to be like Dcop and move to Mexico so I can, “lay in bed with my laptop and coffee and mango until about noon or 1”. I curse the day I have read this thread! I now find myself daydreaming of palm trees and fruity drink umbrellas as I slug through rush hour traffic in the snowy grey environment that is slowly smothering my soul. :annoyed

Having dependent children tends to put a damper on retirement plans. I would have been retired years ago if it weren’t for 3 kids going through college. It’s a lot easier to only be concerned for your own needs. No regrets though. Best thing that ever happened to me was finding the right partner and raising children.
"Ignorance more frequently begets confidence than does knowledge" | Do you know how to make a rain dance work? Dance until it rains.

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Re: Retired in your late 40s or early 50s?

Post by AlphaLess » Tue Dec 04, 2018 9:35 am

quantAndHold wrote:
Mon Dec 03, 2018 12:21 am
Retired two years ago in my early 50’s. When I retired I was having health problems from a combination of stress and sitting at a desk for 30 years. I spent the first six months doing physical therapy and going to the doctor. Now I feel good, train like an Olympic athlete, and we travel anywhere in the world we want to go, for as long as we want to go. We were on a three month long trip recently. I was talking to someone along the way, describing our trip. She said, “I wish I could take a vacation like that.” It isn’t a vacation for us. It’s our life.

No regrets.
Nice story.
Were you a quant?
"A Republic, if you can keep it". Benjamin Franklin. 1787. | Party affiliation: Vanguard. Religion: low-cost investing.

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Re: Retired in your late 40s or early 50s?

Post by pop77 » Tue Dec 04, 2018 11:16 am

Just curious anyone had read this book

https://www.amazon.com/New-Retiremental ... 0470255080

I have not finished it yet, but the theme of the book is to find a job that you love and work for ever Vs being in a job that you hate, wanting to get out early. There are some interesting studies cited in the book that goes dead against what I am seeing in this thread of almost NO ONE regretting their decision to retire..

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Re: Retired in your late 40s or early 50s?

Post by Socal77 » Tue Dec 04, 2018 11:29 am

Smoke wrote:
Sun Dec 02, 2018 7:28 pm
Retired 14 yrs ago at age 50.
Not one regret, got the h e l l out and have done whatever I want to do each day as it comes.
No plans, I am an expert at doing nothing, or rather what main stream society thinks is nothing.
Lots of online time searching for whatever comes to mind. Lots of time to think of stuff.
I would have retired earlier IF it was possible. Had to put in 30 yrs, as it was I got a break as they came out with a deal to retire at 26 yrs IF 50 or over.
I turned 50, 3 months earlier with 27.5 years.
I put the paperwork in the next day.

:sharebeer
Main stream society... :) Practically every time, without fail, the question always comes up when talking about retiring early - What are you going to do?

Rhetorically speaking to this belief that eating well, sleeping well, and doing "nothing" that appeals to other people, including independence from others for your livelihood, might just be "A waste of time."

Very strange and shallow logic, IMO.

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Re: Retired in your late 40s or early 50s?

Post by cheese_breath » Tue Dec 04, 2018 11:38 am

pop77 wrote:
Tue Dec 04, 2018 11:16 am
Just curious anyone had read this book

https://www.amazon.com/New-Retiremental ... 0470255080

I have not finished it yet, but the theme of the book is to find a job that you love and work for ever Vs being in a job that you hate, wanting to get out early....
No I haven't read the book, but if that's the theme it seems a little naive. I have no issues with the first part, find a job you love. But jobs change over the years. The job you love may not be the job you end up in. It might cease to exist. You may be pressured by management, spouse, peers to 'advance' into a job you don't love. My job I loved in the early years turned into a job I hated at the end. Again, I have no issue with finding a job you love. But be realistic too and realize the honeymoon may not last forever.
The surest way to know the future is when it becomes the past.

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Re: Retired in your late 40s or early 50s?

Post by dcop » Tue Dec 04, 2018 12:31 pm

pop77 wrote:
Tue Dec 04, 2018 11:16 am
Just curious anyone had read this book

https://www.amazon.com/New-Retiremental ... 0470255080

I have not finished it yet, but the theme of the book is to find a job that you love and work for ever Vs being in a job that you hate, wanting to get out early. There are some interesting studies cited in the book that goes dead against what I am seeing in this thread of almost NO ONE regretting their decision to retire..
In my case it had nothing to do with the litmus of likability of my job. I loved my job. What I didn't like was the 6-7 months of nasty winter wisconsin weather, my long time fishing and activity buddies getting bad backs, diabetes, bickering with their wives and becoming more content settling on their couch rather than taking a few days to go up north fishing or snowmobiling. So as that companionship and activity waned I went elsewhere to explore: warm breezes and easy going days repeated in Mexico. And as I approached what I call the quality sunset 15 years (age 60-75) I wanted to enjoy them while and if I have a good physical condition. The only place 'I've had to be at a certain time' since I retired here in May was a dentist appointment. To me these are the highlights of retirement to me. Nothing to do with not liking my job because I did very much. Now if I would of hated my job then retiring for that reason would be equally as good of a reason. I'm sure there are plenty other good reasons too.

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Re: Retired in your late 40s or early 50s?

Post by G12 » Tue Dec 04, 2018 1:42 pm

I am married and retired 8+ years ago at 47, my wife is still working and a year younger than me, and we do not have children which is likely a large determinant for ER. Some will say one is not really retired if a spouse is still working, I say yes I am. :beer Regardless, I took a buyout, then found out in very surprising fashion I had cancer, got that worked out and the health scare in addition having my mother die from early onset ALZ, as did her sister and mother, led me to believe there were better things to do than deal with horrible commutes, etc. My wife is really tired of how poorly managed her department is, managerial turnover over about every 6 months with the newest additions successively being worse than the former, ad nauseum. I recently analyzed her pension and unless she is willing to work for her current employer another 10 years she is not much worse retiring in 2019 than she would in successive years prior to 2029. She loves her occupation, I just think she could really benefit from an extended or permanent break. Thankfully, we have been able to stash max $ into her 403b, Roths, and HSA while she has remained at her employer, plus what I had in retirement accounts, and the end result is we are roughly 50/50 taxable and tax advantaged accounts so accessing funds pre-59.5 is not a concern.

I have witnessed a great deal the last 10-years or so as to how people handle personal adversity and financial windfalls. I have 3 siblings, all female, and the youngest and I share fairly similar personalities. We all received "X" from our mother, which was a good # but not life changing, part of which was an inherited IRA. One sister blew through all of her inheritance in less than 2 years. My oldest sister is 18 months older than me and has had her IIRA stuck in a money market account at EJ the last 5 years and is worth about 35% of mine although I have tried to help her for 10-years, and the youngest who is closest to my personality still has most of hers partly due to lower RMDs. Even with RMDs my IIRA balance is 30% greater than what each of us inherited. My oldest sister retired in June 2017 after 30 years of teaching and I have no idea why she handles her money, or, more accurately, the lethargy she displays regarding her financial well being because she needs additional income and assets, it is what it is.

We do not have a "pure" Boglehead portfolio, ie have interests in 2 commercial properties, have had SFR rentals, partnership interest in a company housed in one of the properties, have some individual stocks, etc. Roughly 60% of our invested assets are in ETFs, mutual funds, TIPS bought in the 2008 melt down, EE bonds, I bonds, etc. My wife has zero interest in managing accounts or financial assets, so that is a concern if/when I likely pre-decease her. If people remain flexible, are willing to accept some risks and can manage their financial lives through ups and downs then surely early retirement can be a viable option. :mrgreen:

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Re: Retired in your late 40s or early 50s?

Post by skime » Tue Dec 04, 2018 1:49 pm

My wife and I are in our late forties and retired. We don't regret it for one minute. It's been fantastic.

We've had some setbacks and challenges. We would have had them whether we were working or not. We planned for extreme events prior to retiring, so those challenges weren't financially straining.

To each his own, but having our time be our own is the single greatest asset we have.

Plan well financially and then enjoy the hell out of life. We only get one trip around. Make it a good one!

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Re: Retired in your late 40s or early 50s?

Post by Calico » Tue Dec 04, 2018 2:20 pm

cheese_breath wrote:
Sun Dec 02, 2018 11:08 pm
Retired 21 years ago at age 56. Everything was fine for first 20 years. Didn't worry about filling the time, just did what we wanted when we wanted to do it. And for those who think you have to fill every retirement minute with some fantastic adventure, I disagree. We still took some vacations, but there's nothing wrong with relaxing at home in front of the boob tube, dinner and a movie, reading some good books or whatever else you like.

Unfortunately the fun ended last year when DW suffered a major stroke. Since then it's been shuttling between hospitals and nursing homes. But if I'd waited longer to retire that's so many less years we would have had together.
I am so sorry for what happened to your wife. It's good that you got to spend those 20 years of quality time together though. It sounds like you made a good decision all those years ago.

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Re: Retired in your late 40s or early 50s?

Post by Calico » Tue Dec 04, 2018 2:28 pm

I just want I say that I am green with envy to all of you who retired in your late 40s and early 50s. I am 48 now and won't be able to retire soon (combination of poor choice in spouse, getting financially wiped out to the point of being in debt by a divorce in my early 40s, and then ending up a single mom in a high COL area). I recovered from the big financial blow, but I figure I have at least 20 more years of working (or at least 8 until my daughter is graduated from high school and finished her first four years of college).

You all made better decisions than I did for sure.

Although it sounds like a lot of you are married and have someone to enjoy retirement with. I sometimes wonder what I would even do if I retired. My whole life right now revolves around work and my daughter's school activities and such.

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Re: Retired in your late 40s or early 50s?

Post by ymarkley » Tue Dec 04, 2018 6:46 pm

goodenyou wrote:
Tue Dec 04, 2018 9:30 am
Having dependent children tends to put a damper on retirement plans. I would have been retired years ago if it weren’t for 3 kids going through college. It’s a lot easier to only be concerned for your own needs. No regrets though. Best thing that ever happened to me was finding the right partner and raising children.
I could not agree more. I would not trade my 14 year old bundle of hormones or my one in a million wife for anything. Even if it means I have to work a bit longer so as not to be perceived as 'weird'. :|

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Re: Retired in your late 40s or early 50s?

Post by FireHorse » Tue Dec 04, 2018 8:04 pm

Retired 3 month ago at 52. Still in honeymoon stage, totally no regrets

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Re: Retired in your late 40s or early 50s?

Post by BigTuna » Fri Dec 07, 2018 1:50 pm

dcop wrote:
Tue Dec 04, 2018 12:59 am
WanderingDoc wrote:
Tue Dec 04, 2018 12:46 am
If you pay $250/mo. in rent you could have retired at 30. Not sure why you waited so long. In any case, enjoy!
LOL. Actually I couldn't of because I was married with 2 kids and a Networth of about 70k. But after I was divorced at 39 I went on a mission to build a networth of 1M and actually hit 1.8M. Not re-marrying (altho came close twice) , maxing out my tax-deferred accounts , vacationing in Mexico 3 times every winter (about $1200 per trip and meeting/making countless friends over those trips) and driving the same car for 21 years were choices that made everything fall in place for me.

What did you do to hit 1.8M if you don’t mind me asking. I’m 28 and lookin for a career change. Not that it’s all about money but 1.8 sure sounds nice.

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Re: Retired in your late 40s or early 50s?

Post by dcop » Fri Dec 07, 2018 5:19 pm

What did you do to hit 1.8M if you don’t mind me asking. I’m 28 and lookin for a career change. Not that it’s all about money but 1.8 sure sounds nice.
Maxed out ALL pre-tax options absolute zero debt.. That is a must. After my divorce I had about 160K in 401k and about 60K in cash and stocks. 14 years later I hit the 1M net worth. Also a 9 year bull market with 2013, 2016-17 being super bull markets certainly helped.

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Re: Retired in your late 40s or early 50s?

Post by Time2Quit » Fri Dec 07, 2018 6:11 pm

For most of the early retirees, what withdrawal rates are you using? Did you have to make adjustments to your original withdrawal plans?
"It is not the man who has too little, but the man who craves more, that is poor." --Seneca

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Re: Retired in your late 40s or early 50s?

Post by Pam01 » Fri Dec 07, 2018 7:58 pm

Early retirees, what are you doing for healthcare coverage in early retirement, especially if living in the US?

dcop
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Re: Retired in your late 40s or early 50s?

Post by dcop » Fri Dec 07, 2018 8:11 pm

Time2Quit wrote:
Fri Dec 07, 2018 6:11 pm
For most of the early retirees, what withdrawal rates are you using? Did you have to make adjustments to your original withdrawal plans?
I only withdraw what I spend. I keep a balance of 5000 in my checking. If it's down to 3000 at end of month I draw 2000 to put it back to 5000. My expenses are about 1400/month. So far my withdrawals have been 1200-2200.

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Re: Retired in your late 40s or early 50s?

Post by Duckie » Fri Dec 07, 2018 8:47 pm

Pam01 wrote:Early retirees, what are you doing for healthcare coverage in early retirement, especially if living in the US?
I have Kaiser HMO, paying $650/month.

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