Just FIRE'd!

[Exec]

Glad to be joining this awesome group. I'm a Canadian that just FIRE'd a few weeks ago at the age of 45. I was able to achieve this by moving the corporate ladder quickly to increase my overall income, including international assignments that offered significantly higher compensation, and saving 50%+ of my salary. Finally, for the last 20 years+ I have been investing 50/50 in real estate and lost-cost index ETFs. Income in retirement will come from rent and dividends. In terms of asset allocation I decided to follow the well known Warren Buffet rule of 90/10 stock and bonds. Finally, after reading Financial Samurai's book "How to engineer your layoff" I was able to negotiate a severance and finally leave the corporate world at 45 years old with a net worth of 3.5 millions.

Looking forward to the discussions!

FIRE'd Exec

[GuitarStv]

Nice!  What are your plans for retirement?

[Exec]

Thanks! Very good question, and important point. In fact I tried retirement once, 2 years ago and went back to work for 6 months as I was not ready to retire yet. It took lots of time and effort to truly disconnect from work, and build a new identity, but I was able to achieve it as I was getting more and more tired of the corporate world. The fact that I moved up quickly burned me up, and I found that this type of work didn't align with my values anymore. My RE projects for now are 1) I started to write a book, 2) I manage my investments and rentals, and 3) started volunteering. Most importantly I am learning how to slow down...What are your projects or your experience post retirement?

[GuitarStv]

Thanks! Very good question, and important point. In fact I tried retirement once, 2 years ago and went back to work for 6 months as I was not ready to retire yet. It took lots of time and effort to truly disconnect from work, and build a new identity, but I was able to achieve it as I was getting more and more tired of the corporate world. The fact that I moved up quickly burned me up, and I found that this type of work didn't align with my values anymore. My RE projects for now are 1) I started to write a book, 2) I manage my investments and rentals, and 3) started volunteering. Most importantly I am learning how to slow down...What are your projects or your experience post retirement?

3.5 million at 45 is a pretty great position to be in!

I haven't retired yet, although getting very close (at a much lower number than you are).  I've always had too many hobbies and not enough time to work on all of them.  My plans for post retirement involve a mix of physical stuff (cycling - probably some longer multi-day and maybe multi-week trips, continuing to roll regularly in Jiu-Jitsu), construction (need to remodel our kitchen and 2.5 bathrooms and replace the driveway) and creative challenges (more song writing, developing better theoretical understanding of melody and music arrangement, working on lyrics, more jamming with other people).  I'd also like to do some volunteering at an animal shelter and get into fostering dogs.

[Exec]

Wow! Impressed by all the retirement projects, you really gave a lot of thought into this. Good luck on your retirement journey!

[2KidFIRE]

Congratulations on your achievement!  Are you embarking on your FIRE journey solo, or do you have a partner/spouse/kids going with you?

[Chris Pascale]

Can you tell us about the book?

[former player]

Congratulations and welcome to the FIREside.

[2sk22]

Congratulations and welcome to the ranks of the happily retired!

[Metalcat]

Fantastic!! Welcome, what a great story.

[Exec]

We are a family of 5, and my wife is still holding on to her job for now, We could both retire but my wife loves her work which only covers a small % of our expenses, so for the time being the goal is to use a lower withdrawal rate of 2% instead of 4% to be safer regarding retirement longevity risks.

Thank you for all your positive comments and encouragement!

[Firefist]

Congrats!  Your post struck a chord with me as I am in a very similar situation as you.  I too am a Canadian, same age as you, with a similar net worth and two younger elementary school age kids.  Even my assets are similar to yours having some real estate on the side.   Did you struggle to leave the pay check and did you struggle to believe that your money would last?  What mentally put you over the top allowing you to quit?  My expenses (which have factors of safety on them) have me sitting under 3% WR, yet I still struggle with believing I will be okay for life.  I mentally feel like I am still young, and still at times think about what I want to be when I grow up!  I have parents that worked into their sixties and several colleagues that are well into their 50's and 60's. I cant help but feel like I'm missing something and the feeling that this isn't real is always nagging at me.   The job is a drag I am constantly on a leash, but I have a lot of autonomy and make a lot of money.   Its hard to give up... and feel like I almost don't have a right to as I know most people that are not as well positioned and perhaps I should be hanging on longer for the long term well being of my kids.  It's a job that can be unbearably stressful at times and does can come with corporate BS.  Most colleagues find it manageable, but I don't personally manage it well.  No matter how many times I run the numbers and still get the same result (100% success rate)....I keep telling myself "Just a couple more pay checks".  Rinse, repeat.  Id really like to know how you or anyone else coped with all of that as I expect I am far from being alone with these feelings.  Thank you for reading!

[ricelife]

congrats on becoming FIRE! Especially in Canada.

I would be curious about how you were able to climb the corporate ladder etc to make higher salary.
I'm younger than you (at 36 years old) and have 2 kids in the baby phase. Definitely do not have your net worth but I imagine it could be closer to where you are in 10 years if me and hubby start earning more.

Also glad that you have lots of hobbies and plans for your retirement. It's hard to give up the salary and the busy-ness of it all, even though it is stressful.

[Mrs. Healthywealth]

Woohoo! Congrats with this new stage in your life.

[JupiterGreen]

3.5 million at 45 is amazing, congratulations!

[Dicey]

Wow, you joined in October and retired a month later! Now that's badass! Congratulations! 

[Turtle]

Congratulations!  Great holiday present to yourself! 

[kindoflost]

Congrats!  Your post struck a chord with me as I am in a very similar situation as you.  I too am a Canadian, same age as you, with a similar net worth and two younger elementary school age kids.  Even my assets are similar to yours having some real estate on the side.   Did you struggle to leave the pay check and did you struggle to believe that your money would last?  What mentally put you over the top allowing you to quit?  My expenses (which have factors of safety on them) have me sitting under 3% WR, yet I still struggle with believing I will be okay for life.  I mentally feel like I am still young, and still at times think about what I want to be when I grow up!  I have parents that worked into their sixties and several colleagues that are well into their 50's and 60's. I cant help but feel like I'm missing something and the feeling that this isn't real is always nagging at me.   The job is a drag I am constantly on a leash, but I have a lot of autonomy and make a lot of money.   Its hard to give up... and feel like I almost don't have a right to as I know most people that are not as well positioned and perhaps I should be hanging on longer for the long term well being of my kids.  It's a job that can be unbearably stressful at times and does can come with corporate BS.  Most colleagues find it manageable, but I don't personally manage it well.  No matter how many times I run the numbers and still get the same result (100% success rate)....I keep telling myself "Just a couple more pay checks".  Rinse, repeat.  Id really like to know how you or anyone else coped with all of that as I expect I am far from being alone with these feelings.  Thank you for reading!

Maybe what you are missing is the independence. It will be 8 years next month since I FIREd myself. And even as I struggle often deciding what to do with my time I don't think I could go back to work full time for a corporate employer. My situation is easier as I am single and have no kids and yours is easier because you have a lot more saved than what I had back then. I think you should try a sabbatical or see if they would take you part-time, or just quit if you can get another job later. I'd say if you leave for a year or two your brain will re-wire and you won't be able to take orders from a boss ever again.

[Bamboo67]

Retiring at 45 is a great result, congrats.

[halfling]

Congratulations! The next adventure begins. Did the international assignments feel more like an adventure or a sacrifice to you? I still daydream about an international gig I turned down at 25, and I sometimes wonder if I can land something like that in the future without taking a pay cut.

[Fru-Gal]

I'd say if you leave for a year or two your brain will re-wire and you won't be able to take orders from a boss ever again.

Ha! So true! Although FI is the magical ingredient here, because being allergic to authority is available to us all.

[Metalcat]

I'd say if you leave for a year or two your brain will re-wire and you won't be able to take orders from a boss ever again.

Ha! So true! Although FI is the magical ingredient here, because being allergic to authority is available to us all.

I developed this allergy while in school, I certainly didn't need to be FI to develop an intolerance for being told what to do, lol.

[GuitarStv]

I'd say if you leave for a year or two your brain will re-wire and you won't be able to take orders from a boss ever again.

Ha! So true! Although FI is the magical ingredient here, because being allergic to authority is available to us all.

I developed this allergy while in school, I certainly didn't need to be FI to develop an intolerance for being told what to do, lol.

*cues up Rage Against the Machine - Killing in the Name*