Author Topic: How many years until you can retire again?  (Read 7689 times)

deborah

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How many years until you can retire again?
« on: January 25, 2015, 08:25:05 PM »
Someone put in a link to this calculator

https://networthify.com/calculator/earlyretirement

So I plugged in my numbers - how much I have to be paid each year (I don't have to be paid all the income my investments earn), and how much I spend each year. In less than 20 years, I can retire again! So I can be double-retired! I can retire again in much less than 10 years if I include how much my investments earn!

Absolutely amazing!

lpep

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Re: How many years until you can retire again?
« Reply #1 on: January 25, 2015, 10:49:09 PM »
You want to fund my retirement? ;)

meteor

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Re: How many years until you can retire again?
« Reply #2 on: January 26, 2015, 02:00:35 AM »
You want to fund my retirement? ;)

My first out loud laugh of the day.

deborah

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Re: How many years until you can retire again?
« Reply #3 on: January 26, 2015, 03:06:38 AM »
You want to fund my retirement? ;)
Surely you are going to be FI before I will be double retired!

Financial.Velociraptor

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Re: How many years until you can retire again?
« Reply #4 on: January 26, 2015, 11:43:49 AM »
You totes hafta post in "Badassity" forum when you DR.  That will be epic.

arebelspy

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Re: How many years until you can retire again?
« Reply #5 on: January 26, 2015, 11:50:05 AM »
By double retire do you just basically mean your WR is halved from 4% to 2%?
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
If you want to know more about me, this Business Insider profile tells the story pretty well.
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deborah

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Re: How many years until you can retire again?
« Reply #6 on: January 26, 2015, 12:43:49 PM »
By double retire do you just basically mean your WR is halved from 4% to 2%?
Let us say that I need $20,000 in retirement. I am already retired, and my income from my assets is $50,000, then according to the calculator, I can retire again (double retire), in 12.4 years. If that means I will have an SWR of 2%, I guess it will. However, I think not.

But, the other thing is that in my retirement there are three figures -
  • E1 a minimum mandated amount that I have to take each year,
  • E2 what my investments actually earn each year, and
  • S what I actually spend in a year.
If I use E1 in the tool as my income, and S as my spend - I can retire again in less than 20 years. If I use E2 in the tool as my income, and S as my spend - I can retire again in far less than 10 years.

I think that if you can double retire in less than 16.6 years, you already have a SWR of 2% because 16.6 years is when you are spending exactly 50% of your retirement salary. If you can double retire in 6.8 years, you are spending 25% of your retirement salary, which would equate to a 1% SWR - and E2 makes me less than that.

arebelspy

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Re: How many years until you can retire again?
« Reply #7 on: January 26, 2015, 02:03:25 PM »
If your income from assets is 50k and your draw is 20k, I'd say you're already double retired (as your income could support your first retirement at 20k, and a second one at 20k, and still have another half a spending left over.. so you're 2.5 times retired).
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
If you want to know more about me, this Business Insider profile tells the story pretty well.
I (rarely) blog at AdventuringAlong.com. Check out the Now page to see what I'm up to currently.

deborah

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Re: How many years until you can retire again?
« Reply #8 on: January 26, 2015, 02:21:49 PM »
Does that mean that if my E2 (amount my investments are earning) is $100,000, and my S (spend) is $25,000 that I am FOUR TIMES retired?

Hooley Dooley!

Pooperman

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Re: How many years until you can retire again?
« Reply #9 on: January 26, 2015, 02:33:15 PM »
So what you're saying is that your FI will be FI while you're FI?

Jon_Snow

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Re: How many years until you can retire again?
« Reply #10 on: January 26, 2015, 02:33:26 PM »
I would urge my fellow FIRE peeps to stay humble. ;)

I am more than content to have achieved FIRE ONCE.
« Last Edit: January 26, 2015, 03:03:32 PM by Jon_Snow »

deborah

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Re: How many years until you can retire again?
« Reply #11 on: January 26, 2015, 02:59:33 PM »
So what you're saying is that your FI will be FI while you're FI?
Yes

arebelspy

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Re: How many years until you can retire again?
« Reply #12 on: January 26, 2015, 03:00:23 PM »
Does that mean that if my E2 (amount my investments are earning) is $100,000, and my S (spend) is $25,000 that I am FOUR TIMES retired?

Hooley Dooley!

Sure, whatever that means.  :)

In practical terms it means you can sleep fairly safe at night, even in the event of a market crash, and it also means you may have worked too long.  ;)
I am a former teacher who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and am now settled with three kids.
If you want to know more about me, this Business Insider profile tells the story pretty well.
I (rarely) blog at AdventuringAlong.com. Check out the Now page to see what I'm up to currently.

deborah

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Re: How many years until you can retire again?
« Reply #13 on: January 26, 2015, 03:10:10 PM »
it also means you may have worked too long.  ;)
I'd already figured that out. But what is done is done. No extra gigs for this FIRE!

deborah

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Re: How many years until you can retire again?
« Reply #14 on: January 26, 2015, 03:21:56 PM »
Maybe it's not double retired - its a square FIRE.

retired?

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Re: How many years until you can retire again?
« Reply #15 on: January 27, 2015, 11:06:54 AM »
I had thought this thread might be about leaving one career and moving to another to keep busy and then retiring from that.  I found this talk (via MMM or link off MMM)

http://www.ted.com/talks/stefan_sagmeister_the_power_of_time_off?language=en

He is not FIRE that I know of, but it is a nice talk about an alternative to the standard career (just like ER is).  His idea is to take a year off each 7 years.  He is self-employed in an artistic area, so in/out is his choice, but I think it might be a good way to look at things for those near FI/RE, but who still want to stay active.


lpep

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Re: How many years until you can retire again?
« Reply #16 on: January 29, 2015, 02:43:41 AM »
You want to fund my retirement? ;)
Surely you are going to be FI before I will be double retired!

Backup plans never hurt anybody! :)

frugalnacho

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Re: How many years until you can retire again?
« Reply #17 on: February 06, 2015, 11:53:29 AM »
So what you're saying is that your FI will be FI while you're FI?

Yo dawg I heard you like FIRE. 


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Re: How many years until you can retire again?
« Reply #18 on: February 09, 2015, 08:46:02 AM »
Not exactly what the OP meant, but the title had me thinking that if I screwed everything up, I could just start over and rebuild a stache.  Pull out the "start-up" years and I think I could do it all over in 10 years or so.  Not the plan, but that means I could retire 2-3 more times before I am too old to work!