Roll Call for the Retirement Class of 2017!

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Miriam2
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Re: Roll Call for the Retirement Class of 2017!

Postby Miriam2 » Tue Jun 20, 2017 7:20 pm

MichaelRpdx wrote:Had The Talk with my boss and I'm now on track to sever employment in September. The date could move earlier if my replacement trains up quickly.

Like many of you we're concerned about health insurance costs. We decided to not plan our lives based on worst case scenarios. It would be possible to have a reasonable life even if that happened.

Looking forward to joining the retirees.

Ooh - The Talk with the boss - you told him you're outta-there, it's been great, thanks for the memories and the pay and the 401k, but you're punching out of the rat race :D

Welcome to the Retirement Class! Let us know date and age, if you choose. Nice way to look at the health insurance issue: "We decided to not plan our lives based on worst case scenarios." 8-)

1year23
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Re: Roll Call for the Retirement Class of 2017!

Postby 1year23 » Tue Jun 20, 2017 10:56 pm

I can't believe I did it!! I have been agonizing about the decision to retire for several years now. I just celebrated my 59th birthday and I feel emotionally and financially prepared. I gave my notice today and will work my last day July 11th!! I am so excited about this next chapter in my life! Thank you BOGLEHEADS for all the wise advice along the way.

Sandtrap
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Re: Roll Call for the Retirement Class of 2017!

Postby Sandtrap » Wed Jun 21, 2017 1:25 am

2017 January. :D

LadyIJ
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Re: Roll Call for the Retirement Class of 2017!

Postby LadyIJ » Thu Jun 22, 2017 7:39 am

1year23 wrote:I can't believe I did it!! I have been agonizing about the decision to retire for several years now. I just celebrated my 59th birthday and I feel emotionally and financially prepared. I gave my notice today and will work my last day July 11th!! I am so excited about this next chapter in my life! Thank you BOGLEHEADS for all the wise advice along the way.



Congrats! I did the same thing - I agonized for years until I went in one day and gave the one month notice.

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TheTimeLord
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Re: Roll Call for the Retirement Class of 2017!

Postby TheTimeLord » Thu Jun 22, 2017 8:01 am

The problem with all the extensive financial planning I have done in the past few months is it shows the benefit of delaying retirement by each additional month even without additional savings contributions(which would only increase the benefit). So while I no longer feel like I am in a One More Year cycle I am a bit flummoxed on how to escape this One More Month cycle. Especially since the benefit of each additional month increases with each month delayed. :oops:

It should be noted that this is a result of my planning revolving around the number of months between retirement and FRA when I would begin SS and pensions. Obviously $XXX/119 is greater than $XXX/120 and $XXX/118 is greater than $XXX/119 and so on for each month delayed. Then if you layer in additional 401K and taxable contributions on top of that it makes a compelling case fr each additional month. Sigh, total first world problem. :mrgreen:
Run, You Clever Boy!

The Wizard
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Re: Roll Call for the Retirement Class of 2017!

Postby The Wizard » Thu Jun 22, 2017 8:42 am

TheTimeLord wrote:The problem with all the extensive financial planning I have done in the past few months is it shows the benefit of delaying retirement by each additional month even without additional savings contributions(which would only increase the benefit). So while I no longer feel like I am in a One More Year cycle I am a bit flummoxed on how to escape this One More Month cycle. Especially since the benefit of each additional month increases with each month delayed. :oops:

There's no way to escape this cycle, you're doomed. :)
Actually, there is a way; two parts to it:
1) arrange for net retirement income slightly higher than your present net income while working;
2) do preliminary planning for at least a dozen weeks of adventuring away from home the first year of retirement...
Attempted new signature...

Dday123
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Re: Roll Call for the Retirement Class of 2017!

Postby Dday123 » Thu Jun 22, 2017 8:43 am

Count me in! I retired May 1, 2017 at age of 54. Tired of the rat race and ready to live a little before deciding if this is permanent or just a respite.

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TheTimeLord
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Re: Roll Call for the Retirement Class of 2017!

Postby TheTimeLord » Thu Jun 22, 2017 9:00 am

The Wizard wrote:
TheTimeLord wrote:The problem with all the extensive financial planning I have done in the past few months is it shows the benefit of delaying retirement by each additional month even without additional savings contributions(which would only increase the benefit). So while I no longer feel like I am in a One More Year cycle I am a bit flummoxed on how to escape this One More Month cycle. Especially since the benefit of each additional month increases with each month delayed. :oops:

There's no way to escape this cycle, you're doomed. :)
Quite possibly, but there is a point where the numbers start getting ridiculous, thankfully.
Actually, there is a way; two parts to it:
1) arrange for net retirement income slightly higher than your present net income while working;
Makes sense, I am still mentally readjusting my income expectations thanks to a income spike in the past couple of years.
2) do preliminary planning for at least a dozen weeks of adventuring away from home the first year of retirement...
Planning is easy, getting the DW away from her responsibilities that many weeks in a year will be much, much more difficult. Probably a 4 week max to being off grid until she is willing to step away which is likely still a 3-5 years away.


All good observations and suggestions. Fortunately I think I have reached a place where I am pretty happy with my circumstance and balance. Congratulations to everyone who has reached the place where they are comfortable making the leap, hoping many of your best days are ahead of you.
Run, You Clever Boy!

Miriam2
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Re: Roll Call for the Retirement Class of 2017!

Postby Miriam2 » Thu Jun 22, 2017 6:18 pm

TheTimeLord wrote:Check back with me in November.

Will do :D

TheTimeLord wrote:The problem with all the extensive financial planning I have done in the past few months is it shows the benefit of delaying retirement by each additional month even without additional savings contributions(which would only increase the benefit). So while I no longer feel like I am in a One More Year cycle I am a bit flummoxed on how to escape this One More Month cycle. Especially since the benefit of each additional month increases with each month delayed. :oops:

The Wizard wrote:There's no way to escape this cycle, you're doomed. :)
Actually, there is a way; two parts to it:
1) arrange for net retirement income slightly higher than your present net income while working;
2) do preliminary planning for at least a dozen weeks of adventuring away from home the first year of retirement...

When The Wizard speaks, I listen.

He simply waves his magic wand around and makes everything work :D The proof is in the brew - The Wizard has been in the top ten in Taylor's Highly Esteemed Boglehead S&P 500 Contest for the last 2 weeks, and we know how impossible that is 8-)

Miriam2
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Re: Roll Call for the Retirement Class of 2017!

Postby Miriam2 » Fri Jun 23, 2017 7:28 pm

Welcome to our new members!
1year23 wrote:I can't believe I did it!! I have been agonizing about the decision to retire for several years now. I just celebrated my 59th birthday and I feel emotionally and financially prepared. I gave my notice today and will work my last day July 11th!! I am so excited about this next chapter in my life! Thank you BOGLEHEADS for all the wise advice along the way.

Congratulations! It's nice to feel emotionally and financially prepared 8-) Hope this next chapter in your life is wonderful!

Dday123 wrote:Count me in! I retired May 1, 2017 at age of 54. Tired of the rat race and ready to live a little before deciding if this is permanent or just a respite.

"Tired of the rat race and ready to live a little" qualifies for a well-deserved retirement 8-) Congratulations! And what will your live-a-little life be full of? or will it be a live-it-up life :beer

Miriam2
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Re: Roll Call for the Retirement Class of 2017!

Postby Miriam2 » Fri Jun 23, 2017 8:22 pm

Sandtrap wrote:2017 January. :D

Aloha Sandtrap! Congratulations and welcome to the class!

I guess you miss huli huli chicken, poi and humuhumunukunukuapua'a :happy We wish you the best in your new home on the mainland. Enjoy the wonder, opportunity, and satisfaction of this retirement transition with the open road ahead of you and the wind at your back.

Bogleheads no ka 'oi 8-) 8-) !!

Sandtrap
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Re: Roll Call for the Retirement Class of 2017!

Postby Sandtrap » Sat Jun 24, 2017 6:35 am

Miriam2 wrote:
Sandtrap wrote:2017 January. :D

Aloha Sandtrap! Congratulations and welcome to the class!

I guess you miss huli huli chicken, poi and humuhumunukunukuapua'a :happy We wish you the best in your new home on the mainland. Enjoy the wonder, opportunity, and satisfaction of this retirement transition with the open road ahead of you and the wind at your back.

Bogleheads no ka 'oi 8-) 8-) !!

:sharebeer
Mahalo

Miriam2
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Re: Roll Call for the Retirement Class of 2017!

Postby Miriam2 » Fri Jun 30, 2017 3:02 pm

rennale wrote:First post. Not likely to be the last! Got to start somewhere.

I also plan to retire this year, when I get to 67. Basically terrified. Been in the IT industry since college. Enough already. Was once wisely advised to not retire from something, but to retire to something. But the "from" takes so many waking hours that I've not really figured out what the "to" is.

I think I have the necessary FI but, now single & with no kids, I wonder if I have the necessary courage. I always thought it would be the other way around. :happy

Welcome to the Bogleheads!

I see you're another computer wiz who spent so much time and personal energy in the world of IT that retirement is difficult to plan.

Some advice from Charlie Munger at age 93: "If you've got anything you really want to do, don't wait until you're 93."

And from forum member GreatOdinsRaven: "Ask yourself: What do I want out of my personal life that I have or have not been able to achieve while working?

Here's a suggestion from Jonathan Clements: "Spend your days doing what you are passionate about and your evenings with friends and family."

Next year, Rennale, sign up for the Bogleheads Conference and meet Mr. Clements (and Mr. Bogle) in person :happy

Congratulations on your retirement! :happy Grab this time in your life as your opportunity to take advantage of every possibility that comes your way. And of course, you can spend some time here on the forum :wink: asking questions and sharing with us how you're doing 8-)

Miriam2
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Re: Roll Call for the Retirement Class of 2017!

Postby Miriam2 » Sun Jul 02, 2017 12:14 pm

:D :D

"There's one thing I've always wanted to do before I quit. Retire."

(Groucho Marx in "Animal Crackers")

The Roll Call is happy to announce that the Roll Call for the Retirement Class of 2018 is now open.
Roll Call for the Retirement Class of 2018

Thank you NCPE for starting that most important thread!! :D

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cfs
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Re: Roll Call for the Retirement Class of 2017!

Postby cfs » Sun Jul 02, 2017 2:57 pm

Thanks to our Shipmate Miriam for managing "The Retirement Class Series" -- good job. God Bless you and your family.

Thanks for reading.

Miriam2 wrote::D :D

"There's one thing I've always wanted to do before I quit. Retire."

(Groucho Marx in "Animal Crackers")

The Roll Call is happy to announce that the Roll Call for the Retirement Class of 2018 is now open.
Roll Call for the Retirement Class of 2018

Thank you NCPE for starting that most important thread!! :D
~Alumnus, Retirement Class of 2014 || Black Swan Ready Portfolio with a 0% spending rate~

Miriam2
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Re: Roll Call for the Retirement Class of 2017!

Postby Miriam2 » Sun Jul 02, 2017 8:37 pm

STINGRAY75 wrote:We've been working our way mentally & financially toward the goal of retirement @ 60 & 61 in 2017 / 2018. Having moved 300 miles from our families 15 years ago as a part of a job move, we knew that selling the stick n bricks would be an element of our plan so, with the housing market at a bit of a hot pace these days, we listed on Wednesday and negotiated our way thru multiple offers on Thursday. SOMETHING JUST GOT REAL! . . . With the house sale under control and large pieces soon to be gone, we are left with clothes, photos, wine glasses and a map app as we hit the road in our 36-ft 5th wheel after the Christmas Season.

Welcome to the class! Sounds like you struck real estate gold, congratulations! Nice to hear of a good real estate experience before retirement.

And it looks like you did some serious decluttering - wasn't it hard to let go of all your memorabilia? :( Any good suggestions on how to declutter a big house with memories (I'm getting weepy just thinking about it :mrgreen: ) although we see you kept the most important items :beer

Please keep us posted with a sitrep on your travels 8-)

Miriam2
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Re: Roll Call for the Retirement Class of 2017!

Postby Miriam2 » Fri Jul 07, 2017 3:52 pm

peregrine wrote:My retirement date is July 31, 2017. I am already in phased retirement and am enjoying some of the benefits.

Welcome to the class! Coming up soon is the BIG DAY when your phase-out retirement becomes really-retirement and you can enjoy all the benefits of your many years of toil in the trenches :happy What have you lined up for retirement?

mcblum wrote:wife and i are going out on October 1st/2017.

Congratulations on the dual retirements! We hope you have many dual years of meaningful retirement :D :D

lostdog
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Re: Roll Call for the Retirement Class of 2017!

Postby lostdog » Fri Jul 07, 2017 4:30 pm

Retired from the full time rat race January 2017 at the age of 41. I was a Systems Engineer for 15 years which was very stressful. We saved about 70% of our income. I work part time sales to keep me engaged. The rest of the time I play. My wife is still working full time for the insurance. Once we hit our next goal she'll go part time at 30 hours (3 day weekends) and keep the benefits for health insurance. She is a dietitian and really enjoys her job.
"Our life is frittered away by detail. Simplify, simplify." -Thoreau | https://www.psychologytoday.com/blog/meditation-modern-life/201507/henry-david-thoreau-simplify-simplify

Miriam2
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Re: Roll Call for the Retirement Class of 2017!

Postby Miriam2 » Fri Jul 07, 2017 4:51 pm

lostdog wrote:Retired from the full time rat race January 2017 at the age of 41. I was a Systems Engineer for 15 years which was very stressful. We saved about 70% of our income. I work part time sales to keep me engaged. The rest of the time I play. My wife is still working full time for the insurance. Once we hit our next goal she'll go part time at 30 hours (3 day weekends) and keep the benefits for health insurance. She is a dietitian and really enjoys her job.

Ok, we put in your punch-out date as Jan at age 41 - probably you win the prize for our youngest retiree :D

Holy cow lostdog! How did you save 70% of your income, what did you eat, rice & beans, bags of potatoes, catch fish in the local pond :shock: :D and where did you live, your in-law's garage, a tree house in the local park? :shock: :D We can't wait to learn the ingredients of your secret recipe! :idea:

lostdog
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Re: Roll Call for the Retirement Class of 2017!

Postby lostdog » Fri Jul 07, 2017 7:46 pm

Miriam2 wrote:
lostdog wrote:Retired from the full time rat race January 2017 at the age of 41. I was a Systems Engineer for 15 years which was very stressful. We saved about 70% of our income. I work part time sales to keep me engaged. The rest of the time I play. My wife is still working full time for the insurance. Once we hit our next goal she'll go part time at 30 hours (3 day weekends) and keep the benefits for health insurance. She is a dietitian and really enjoys her job.

Ok, we put in your punch-out date as Jan at age 41 - probably you win the prize for our youngest retiree :D

Holy cow lostdog! How did you save 70% of your income, what did you eat, rice & beans, bags of potatoes, catch fish in the local pond :shock: :D and where did you live, your in-law's garage, a tree house in the local park? :shock: :D We can't wait to learn the ingredients of your secret recipe! :idea:


I was off by 7%. It was actually 63%. We lived off my wife's salary and 100% of my salary was invested. We only spend 20k to 25k a year. It's easy when you're completely debt free. We're normal peeps. We just don't take super exotic vacations.
"Our life is frittered away by detail. Simplify, simplify." -Thoreau | https://www.psychologytoday.com/blog/meditation-modern-life/201507/henry-david-thoreau-simplify-simplify

Miriam2
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Re: Roll Call for the Retirement Class of 2017!

Postby Miriam2 » Fri Jul 07, 2017 8:07 pm

lostdog wrote:I was off by 7%. It was actually 63%. We lived off my wife's salary and 100% of my salary was invested. We only spend 20k to 25k a year. It's easy when you're completely debt free. We're normal peeps. We just don't take super exotic vacations.

Neat idea, the live on one salary & save the rest plan :D But spending only 20k to 25k a year?
Maybe it's time to take those super exotic vacations 8-)
Here you go, they'll even give you your own special "Conch Republic" passports 8-) http://www.fantasyfest.com

Theseus
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Re: Roll Call for the Retirement Class of 2017!

Postby Theseus » Sat Jul 08, 2017 3:06 am

As of yesterday at 1:48 PM, I am done at the age of 50. Sold my business, transaction done yesterday and I will take next couple of years t figure out what will I do next.

But happy to say I am "retired" from my old profession and don't think I will have to work for money any more. :sharebeer

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Lieutenant.Columbo
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Re: Roll Call for the Retirement Class of 2017!

Postby Lieutenant.Columbo » Sat Jul 08, 2017 7:42 am

TheTimeLord wrote:The problem with all the extensive financial planning I have done in the past few months is it shows the benefit of delaying retirement by each additional month even without additional savings contributions(which would only increase the benefit). So while I no longer feel like I am in a One More Year cycle I am a bit flummoxed on how to escape this One More Month cycle. Especially since the benefit of each additional month increases with each month delayed. :oops:
The Wizard wrote:There's no way to escape this cycle, you're doomed. :)
Actually, there is a way; two parts to it:
1) arrange for net retirement income slightly higher than your present net income while working;
2) do preliminary planning for at least a dozen weeks of adventuring away from home the first year of retirement...
3) focus on what you really really want to do once retired and realize that each month you delay retiring is one month less you'll be able to do what you really really want to do :happy
4) work very-part-time, only to the extent that your income will meet your regular expenses, so that you won't have to touch your savings but will have more free time (to do what you really really want to do)
Lt. Columbo: Well, what do you know. Here I am talking with some of the smartest people in the world, and I didn't even notice!

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TheTimeLord
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Re: Roll Call for the Retirement Class of 2017!

Postby TheTimeLord » Sat Jul 08, 2017 8:15 am

Lieutenant.Columbo wrote:
TheTimeLord wrote:The problem with all the extensive financial planning I have done in the past few months is it shows the benefit of delaying retirement by each additional month even without additional savings contributions(which would only increase the benefit). So while I no longer feel like I am in a One More Year cycle I am a bit flummoxed on how to escape this One More Month cycle. Especially since the benefit of each additional month increases with each month delayed. :oops:
The Wizard wrote:There's no way to escape this cycle, you're doomed. :)
Actually, there is a way; two parts to it:
1) arrange for net retirement income slightly higher than your present net income while working;
2) do preliminary planning for at least a dozen weeks of adventuring away from home the first year of retirement...
3) focus on what you really really want to do once retired and realize that each month you delay retiring is one month less you'll be able to do what you really really want to do :happy
I have been trying to do this but I also realize a lot of what I want to do is trip or activity driven and working a little longer provides me the opportunity to do more of these things or do them in a little more upscale fashion. Of course physical health is a huge consideration in this and that is the risk in working too long. On the other hand I realize I can't just do trips 24x7x365 in retirement either phyciacally or financially so that leads me back to what do I do with my time when I am home and my friends are at work. But you are definitely correct I need to focus on figuring this out.
4) work very-part-time, only to the extent that your income will meet your regular expenses, so that you won't have to touch your savings but will have more free time (to do what you really really want to do)
Being a contractor I have a great deal of flexibility in the amount of vacation I can take as long as my workload allows or I can make up the work. I am weighing what would be better in 2018, working full-time taking 2-3 weeks of vacation, working 4 days a week or working full-time taking 6-8 weeks of vacation (max I have discussed with my client depending on workload). But if I don't work I don't earn any money so there is a balance there. Then sometimes I just think maybe I should call it a day. Obviously I am very conflicted on the topic.
Run, You Clever Boy!

Miriam2
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Re: Roll Call for the Retirement Class of 2017!

Postby Miriam2 » Sat Jul 08, 2017 9:30 am

TheTimeLord wrote:
Lieutenant.Columbo wrote:3) focus on what you really really want to do once retired and realize that each month you delay retiring is one month less you'll be able to do what you really really want to do :happy

[b] . . . On the other hand I realize I can't just do trips 24x7x365 in retirement either physically or financially so that leads me back to what do I do with my time when I am home and my friends are at work.

This is the key to TheTimeLord's quandary. I remember TheTimeLord's "Costco zombie" description :happy You need an engrossing at-home or not-at-work hobby, activity, project or perhaps your own part-time business to occupy your mind, body and soul when you finally punch out of the rat race.

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Lieutenant.Columbo
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Re: Roll Call for the Retirement Class of 2017!

Postby Lieutenant.Columbo » Sat Jul 08, 2017 9:35 am

Miriam2 wrote:
TheTimeLord wrote:
Lieutenant.Columbo wrote:3) focus on what you really really want to do once retired and realize that each month you delay retiring is one month less you'll be able to do what you really really want to do :happy

[b] . . . On the other hand I realize I can't just do trips 24x7x365 in retirement either physically or financially so that leads me back to what do I do with my time when I am home and my friends are at work.

This is the key to TheTimeLord's quandary. I remember TheTimeLord's "Costco zombie" description :happy You need an engrossing at-home or not-at-work hobby, activity, project or perhaps your own part-time business to occupy your mind, body and soul when you finally punch out of the rat race.
that is what I was referring to with "what you really really want to do".
Lt. Columbo: Well, what do you know. Here I am talking with some of the smartest people in the world, and I didn't even notice!

Miriam2
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Re: Roll Call for the Retirement Class of 2017!

Postby Miriam2 » Sat Jul 08, 2017 9:43 am

Lieutenant.Columbo wrote:. . . that is what I was referring to with "what you really really want to do".

Yes, and TimeLord, you may not be able to intellectually figure this out, you may have to just experiment with different possibilities. The different things that work may not actually make the most intellectual sense to you, but might turn out to be more overall satisfying. You might have to just get out and do different things and not over-think it. 8-)

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TheTimeLord
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Re: Roll Call for the Retirement Class of 2017!

Postby TheTimeLord » Sat Jul 08, 2017 9:57 am

Miriam2 wrote:
Lieutenant.Columbo wrote:. . . that is what I was referring to with "what you really really want to do".

Yes, and TimeLord, you may not be able to intellectually figure this out, you may have to just experiment with different possibilities. The different things that work may not actually make the most intellectual sense to you, but might turn out to be more overall satisfying. You might have to just get out and do different things and not over-think it. 8-)


Part of the problem is I find things I want to do but then discover I am capable of doing them and work at the same time. I wanted to get in better shape, didn't think I had the time, made it a priority and it worked my weight and BP are very much improved. Wanted to try a new hobby and I have been able to adjust my schedule to enjoy it. In other words I haven't found that thing that requires me to quit work in order to enjoy it. As long as I go to bed physically exhausted and not mentally exhausted I am good. Once I get to the point I am living life in a constant state of mental fatigue it is definitely time for a change. And maybe that is it, I don't as yet feel like I am being ground down by my work or life, very busy yes, ground down not really.
Run, You Clever Boy!

Miriam2
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Re: Roll Call for the Retirement Class of 2017!

Postby Miriam2 » Sun Jul 09, 2017 5:40 pm

Theseus wrote:As of yesterday at 1:48 PM, I am done at the age of 50. Sold my business, transaction done yesterday and I will take next couple of years t figure out what will I do next.
But happy to say I am "retired" from my old profession and don't think I will have to work for money any more. :sharebeer

Congratulations and welcome to the class!

"Don't think I will have to work for money any more" - must be a wonderful feeling!

Let us know what you figure out to do next. Perhaps learning how to prepare roast beef sous vide? :D (see up-thread for details :beer

nguy44
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Re: Roll Call for the Retirement Class of 2017!

Postby nguy44 » Sun Jul 09, 2017 7:33 pm

So I am struggling to push myself off the edge and diving into the swimming pool of 2017 retirement. Wife and I are both 59. My non-COLA annual pension income will be $73K. We have stashed away $2.2 million in savings and investments (conservatively allocated). We have enough in cash to not be forced to touch investments before SS kicks in. If we take SS at 62 we get a total of $36K annually, or we can wait until our full retirement age and get $50K annually. In either case we would have over $100K of steady income. Our projected expenses - including a generous allocation for health insurance premiums - look to be around $125K. Remaining mortgage debt is $68K at 2.8% interest against a house conservatively valued at $425K. No other debt.

Every retirement planning calculator I have used states we are in very good financial shape. I am trying to mentally adjust to giving up a very generous salary. I work from home, no commute hassles, and do not have to manage people. I have no need for any further promotions or even raises, so that incentive component no longer exists. The job content I like but it is getting harder to focus on it, and not get distracted by all my fun activities/hobbies around the house and in the neighborhood. I am meeting all my work deadlines but do not feel I am being fair to my company because I am not as into the job mentally as I was in the past. I guess I am in OMD (One More Day) mode right now regarding retirement.

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Lieutenant.Columbo
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Re: Roll Call for the Retirement Class of 2017!

Postby Lieutenant.Columbo » Sun Jul 09, 2017 8:43 pm

nguy44 wrote:So I am struggling to push myself off the edge and diving into the swimming pool of 2017 retirement. Wife and I are both 59. My non-COLA annual pension income will be $73K. We have stashed away $2.2 million in savings and investments (conservatively allocated). We have enough in cash to not be forced to touch investments before SS kicks in. If we take SS at 62 we get a total of $36K annually, or we can wait until our full retirement age and get $50K annually. In either case we would have over $100K of steady income. Our projected expenses - including a generous allocation for health insurance premiums - look to be around $125K. Remaining mortgage debt is $68K at 2.8% interest against a house conservatively valued at $425K. No other debt.

Every retirement planning calculator I have used states we are in very good financial shape. I am trying to mentally adjust to giving up a very generous salary. I work from home, no commute hassles, and do not have to manage people. I have no need for any further promotions or even raises, so that incentive component no longer exists. The job content I like but it is getting harder to focus on it, and not get distracted by all my fun activities/hobbies around the house and in the neighborhood. I am meeting all my work deadlines but do not feel I am being fair to my company because I am not as into the job mentally as I was in the past. I guess I am in OMD (One More Day) mode right now regarding retirement.
have you considered taking the middle road of part time?
do you have other non-work tasks you'd rather be doing? if so, does your current generous salary justify not using your time in what you want to do now that you've won the game?
Lt. Columbo: Well, what do you know. Here I am talking with some of the smartest people in the world, and I didn't even notice!

nguy44
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Re: Roll Call for the Retirement Class of 2017!

Postby nguy44 » Sun Jul 09, 2017 11:12 pm

Lieutenant.Columbo wrote:have you considered taking the middle road of part time?
do you have other non-work tasks you'd rather be doing? if so, does your current generous salary justify not using your time in what you want to do now that you've won the game?


Part time is possible but there is no guarantee. Company tends to frown upon folks who request part time and would rather let them go, particularly those with seniority like myself. Now, if the company decides they need someone for part time work, that is a different story. It is one angle I am working so thanks for the input.

There are overall job expectations with my salary and level that I cannot justify with integrity putting the non-work related tasks at a priority during working hours. I can try doing the bare minimum but frankly I am not wired that way, I try to excel in things I get involved in.

TravelforFun
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Re: Roll Call for the Retirement Class of 2017!

Postby TravelforFun » Sun Jul 09, 2017 11:43 pm

nguy44 wrote:So I am struggling to push myself off the edge and diving into the swimming pool of 2017 retirement. Wife and I are both 59. My non-COLA annual pension income will be $73K. We have stashed away $2.2 million in savings and investments (conservatively allocated). We have enough in cash to not be forced to touch investments before SS kicks in. If we take SS at 62 we get a total of $36K annually, or we can wait until our full retirement age and get $50K annually. In either case we would have over $100K of steady income. Our projected expenses - including a generous allocation for health insurance premiums - look to be around $125K. Remaining mortgage debt is $68K at 2.8% interest against a house conservatively valued at $425K. No other debt.

Every retirement planning calculator I have used states we are in very good financial shape. I am trying to mentally adjust to giving up a very generous salary. I work from home, no commute hassles, and do not have to manage people. I have no need for any further promotions or even raises, so that incentive component no longer exists. The job content I like but it is getting harder to focus on it, and not get distracted by all my fun activities/hobbies around the house and in the neighborhood. I am meeting all my work deadlines but do not feel I am being fair to my company because I am not as into the job mentally as I was in the past. I guess I am in OMD (One More Day) mode right now regarding retirement.

Are you saying if you retire now, your pension would be $73K a year? If that's the case, you've reached the number. Say if you investments just keep up with inflation, your would need $52K a year ($125K - $73K) from your investments to live on if you retire now, and when you file for SS at 62, your would only $16K a year thereafter ($52K - $36K). You investments/expenses-ratio is more than 40. Most folks retire comfortably with a ratio of 33. Quit the rat race unless you still like what you do, but financially, you're in great shape.

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SHL
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Re: Roll Call for the Retirement Class of 2017!

Postby SHL » Mon Jul 10, 2017 3:52 pm

I'm 62 and planning to retire at the end of 2017. After that, I plan to realize my dream of becoming an unemployed musician! :happy
Last edited by SHL on Mon Jul 10, 2017 4:40 pm, edited 1 time in total.
Stephen

nguy44
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Re: Roll Call for the Retirement Class of 2017!

Postby nguy44 » Mon Jul 10, 2017 4:15 pm

TravelforFun wrote:Are you saying if you retire now, your pension would be $73K a year? If that's the case, you've reached the number. Say if you investments just keep up with inflation, your would need $52K a year ($125K - $73K) from your investments to live on if you retire now, and when you file for SS at 62, your would only $16K a year thereafter ($52K - $36K). You investments/expenses-ratio is more than 40. Most folks retire comfortably with a ratio of 33. Quit the rat race unless you still like what you do, but financially, you're in great shape.


Thanks for making me looking at it that way. :D

Yes, if I retire tomorrow my pension will be $73K a year annually. At this point the pension increases at less that 1% a year until I hit 65. From a pension standpoint, it is not worth working an longer for that increase. The company's pension fund is fully funded so there is little risk.

I keep looking at needing $125K, when I really only need to look at, as you said, what we need beyond the pension and SS. before age 62 we can cover that 52K (including inflation) just from cash and interest/dividends if we did not want to touch investments. To avoid massive RMDs project at age 70 1/2 we do plan to slowly draw down the 401K and IRA accounts a bit before then (and what we don't need we will hopefully be able to put into a Roth), but that is a good problem to have as far as I am concerned.

Another push to the "edge"... much appreciated!

Theseus
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Re: Roll Call for the Retirement Class of 2017!

Postby Theseus » Mon Jul 10, 2017 5:07 pm

Miriam2 wrote:
Theseus wrote:As of yesterday at 1:48 PM, I am done at the age of 50. Sold my business, transaction done yesterday and I will take next couple of years t figure out what will I do next.
But happy to say I am "retired" from my old profession and don't think I will have to work for money any more. :sharebeer

Congratulations and welcome to the class!

"Don't think I will have to work for money any more" - must be a wonderful feeling!

Let us know what you figure out to do next. Perhaps learning how to prepare roast beef sous vide? :D (see up-thread for details :beer


Thank you! It is a wonderful feeling for sure :-)

:-). I have always been wanting to brew my own Belgian Triple. And I know nothing about brewing. That is among many things I like to do :sharebeer

Miriam2
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Re: Roll Call for the Retirement Class of 2017!

Postby Miriam2 » Mon Jul 10, 2017 5:10 pm

Theseus wrote:I have always been wanting to brew my own Belgian Triple. And I know nothing about brewing. That is among many things I like to do :sharebeer

Sounds delicious with beef sous vide :beer

Miriam2
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Re: Roll Call for the Retirement Class of 2017!

Postby Miriam2 » Thu Jul 13, 2017 11:41 am

SHL wrote:I'm 62 and planning to retire at the end of 2017. After that, I plan to realize my dream of becoming an unemployed musician! :happy

Welcome to the class SHL and congratulations on becoming unemployed :shock: :shock: !!

Most musicians I know have a dream of being an employed musician :mrgreen:

Let us know your release date and good luck in your new ventures :happy

Miriam2
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Re: Roll Call for the Retirement Class of 2017!

Postby Miriam2 » Sat Jul 15, 2017 12:03 pm

nguy44 wrote:So I am struggling to push myself off the edge and diving into the swimming pool of 2017 retirement. . . .

Let us know if you take the plunge and we will add you to this Very Prestigious Retirement Roll Call 8-)

nguy44 wrote:Every retirement planning calculator I have used states we are in very good financial shape. I am trying to mentally adjust to giving up a very generous salary. I work from home, no commute hassles, and do not have to manage people. I have no need for any further promotions or even raises, so that incentive component no longer exists. The job content I like but it is getting harder to focus on it, and not get distracted by all my fun activities/hobbies around the house and in the neighborhood. I am meeting all my work deadlines but do not feel I am being fair to my company because I am not as into the job mentally as I was in the past. I guess I am in OMD (One More Day) mode right now regarding retirement.

Sounds like you have a good job, good work, good pay, good life situation, good health - but you have work energy slump or burn out and this is all making your work and the retirement decision a big struggle.

nguy44 wrote: . . . There are overall job expectations with my salary and level that I cannot justify with integrity putting the non-work related tasks at a priority during working hours. I can try doing the bare minimum but frankly I am not wired that way, I try to excel in things I get involved in.

Very difficult for those wired to excel, very difficult for those who aren't satisfied until their work product is the best they can do, until it is as perfect as they can make it. I understand, it took over my work, my life, and made it difficult to retire. Very difficult to do things "good enough" then move on with life.

Before diving into retirement now, why not try this :idea:

(1) start a new forum thread right now with your important Questions so the entire Boglehead forum can offer experiences and ideas :D You'll find it very helpful. Put your retirement planning calculators out in the open and let others offer their advice.

(2) stand back from the edge and move from a One-More-Day mode to a Date-Certain mode - without giving notice to your employer (yet).

Give yourself a personal Date-Certain and plan for your retirement. Line up all your horses and men ready to go, adjust your work to be in personal wind-down good-enough mode and stop that gotta-be-perfect mode :wink: earn the extra cash (can't hurt :happy ) and as it gets closer to Date-Certain, make your decision. It appears that either choice will be fine and that once you've made your decision, you won't look back or regret it :D

Treeman16
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Re: Roll Call for the Retirement Class of 2017!

Postby Treeman16 » Sat Jul 15, 2017 6:16 pm

Thanks so much for the insight and advice!


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