That does sound like a nice margin for error @Exflyboy!
For me, I think my reluctance to fully RE is partly a cautious nature (E.g. I live in a country where wealth taxes are fairly frequently mooted and I suspect a 45 year old with most of their wealth outside their main residence is not going to qualify for a load of get out clauses if that one comes to pass... Or a 55 year old if it happens in 10 years) If I live to my 90s (possible) I can imagine that free health are may have bitten the dust some time in the next 45 years. One of my children is autistic and might require some support (although I increasingly suspect I am too, and I've done OK).
And I know there is always a theoretical reason you might need more and you have to draw the line somewhere... So you can certainly be too cautious. I think I am genuinely nearly there.
But:
- My job can at times be genuinely fun and interesting, and plays to my ego (I'm often the "expert" in the room and people are interested in my opinion.... Not something that happens a lot in "real life"!)
- If I can find a way to retain the interesting bits without too much of the crap (massive "if"), with plenty of time to hang out with my kids and recharge between projects, then the ability to "keep my hand in" gives me the option to ramp up later if I need to. My job is stupidly well paid, and the half life of the knowledge probably isn't too bad... But still within 5 years of stopping I reckon my options would shrink quite a bit if I did want or need to earn again.
- If I do increase my pot it increases my ability to do good in the world through charitable giving (though there are obviously other ways of doing good that I could and would explore if I had more time). I do feel somewhat guilty "stepping off" the train in terms of producing cash that can be usefully employed through tax etc when I'm capable of doing so. But on the other hand, everyone gets to retire sometime and you risk burn out if you push too hard for too long. Community and family matter too.
- Finally I'm not a person who is very good at change. So I think personality-wise a gradual exit is more sensible than a sudden stop. I'm also not very good at getting things done without deadlines. I'm sure I can learn but... I think I'll do better if I ease into it.
- I am fundamentally a pretty happy person, and getting better at compartmentalising work stress from "life", so continuing working is a bit painful but certainly bearable... I know many people who work hard at not very fun jobs for a lot less money. Although that ability to compartmentalise my work stress failed for a few months last summer, which served as a bit of a wake up call.
So I suppose it comes down to where I am not being quite uncomfortable enough, and where I'm going being a bit scary/uncertain.
Does any of that make sense? Anyone relate? I need to read more of the thread... Not sure if everyone else is already RE or still in accumulation phase!
Don't get me wrong. I am going to RE, and soon. But this is why I'm dipping a toe rather than diving in...