Author Topic: BAM - I'm retired! (Read 12500 times)

rjack · « **on:** June 26, 2012, 07:09:46 AM »

I will be officially retired when I walk out of work today. I'm declaring my FI and freedom!!!

Anyway, I really want to thank MMM, Mr ERE, and this community for the ideas and encouragement that I needed to do this. I'm 52 years old, so I'm an amateur compared to many of you. However, in conventional terms, I'm still retiring "early".

tooqk4u22 · « **Reply #1 on:** June 26, 2012, 07:12:30 AM »

F'in awesome. Congrats and enjoy the start of the rest of your life.

arebelspy · « **Reply #2 on:** June 26, 2012, 07:48:45 AM »

Congrats.

Have you thought about your transition into ER (like making a get-a-life tree)?

early-retirement.org forums are a great resource for actually taking the plunge. (Most of us here would fit in the "Young Dreamers" subcategory of their forum.)

Retiring at 52 is no easy feat, and being FI at any age is impressive. Well done.

Matt K · « **Reply #3 on:** June 26, 2012, 07:56:47 AM »

Congratulations :)

CeciliaW · « **Reply #4 on:** June 26, 2012, 07:59:01 AM »

Well Done!

darkelenchus · « **Reply #5 on:** June 26, 2012, 08:12:20 AM »

Excellent! Congratulations!

velocistar237 · « **Reply #6 on:** June 26, 2012, 08:38:43 AM »

This is great! It's going to be exciting as more and more of the people I've seen in the comments and on the forums for years make that announcement. It makes it a lot more real.

rjack · « **Reply #7 on:** June 26, 2012, 08:39:54 AM »

Quote from: arebelspy on June 26, 2012, 07:48:45 AM

early-retirement.org forums are a great resource for actually taking the plunge.

Thanks for pointing that out! It looks useful.

boy_bye · « **Reply #8 on:** June 26, 2012, 08:46:39 AM »

GO YOU!!! that is fucking awesome. major congrats -- and enjoy moonwalking out of work today for the last damn time!

grantmeaname · « **Reply #9 on:** June 26, 2012, 08:54:51 AM »

Congratulations! What a badass! You're retiring 15 years earlier than your peers, and with much safer finances than those scraping by on SS and $100k worth of 401k money.

What are you doing tomorrow? Fishing? Killer bike ride? Sleeping in and sweeping your porch in pajamas at 10AM?

Bank · « **Reply #10 on:** June 26, 2012, 09:10:41 AM »

Seriously badass... You are an inspiration.

James · « **Reply #11 on:** June 26, 2012, 09:12:03 AM »

Very cool! Congrats!

mechanic baird · « **Reply #12 on:** June 26, 2012, 09:22:06 AM »

That's awesome man! Congrats!!!! I have 10 more years to go.. hopefully this forum will still be here for me to post this same post!! Real nice!!

May I ask your FI numbers? Expected monthly expense and total dough? No worries if you don't feel comfortable sharing.

Mr Mark · « **Reply #13 on:** June 26, 2012, 09:42:17 AM »

Wonderful news rjack!!

It would be great to hear your transition journey, especially for those of us just a few years away.

Best wishes.

Zoot Allures · « **Reply #14 on:** June 26, 2012, 09:47:01 AM »

Congrats! 52 will hopefully be my magic number, too.

darkelenchus · « **Reply #15 on:** June 26, 2012, 09:49:02 AM »

Quote from: Mr Mark on June 26, 2012, 09:42:17 AM

It would be great to hear your transition journey, especially for those of us just a few years away.

Yes, do share, if you're comfortable doing so.

Sunflower · « **Reply #16 on:** June 26, 2012, 09:57:27 AM »

Congrats! I'm so glad you decided to post and share the news. The long marathon of reaching FI on a low salary gets daunting at times and when I don't have another financial milestone in site for another couple years (paying off student loans) it's stories like this that keep me focused and excited about the journey.

HeidiO · « **Reply #17 on:** June 26, 2012, 12:33:33 PM »

Yay! Please do tell what your plan for tomorrow is! (Aspirin and lots of fluids?)
Heidi

Norman Johnson · « **Reply #18 on:** June 26, 2012, 01:58:44 PM »

Congrats! That is so awesome!!!

travelbug · « **Reply #19 on:** June 26, 2012, 07:03:00 PM »

Wow that is so great!
Congratulations.
C

JJ · « **Reply #20 on:** June 26, 2012, 10:41:41 PM »

Congratulations! I hope you have a long, healthy, happy and fulfilling retirement!

happy · « **Reply #21 on:** June 27, 2012, 01:35:54 AM »

Fantastic and congratulations! BTW I'm 53 and 5-6 years off, so there are at least a few of us on here behind you. Would love to hear your plans and how you celebrate tomorrow as well!

GP · « **Reply #22 on:** June 27, 2012, 05:59:36 AM »

That's fantastic news! if it's not a personal question - how big's your 'stache ?

rjack · « **Reply #23 on:** June 27, 2012, 06:50:07 AM »

Quote from: GP on June 27, 2012, 05:59:36 AM

That's fantastic news! if it's not a personal question - how big's your 'stache ?

My total net worth is approximately $1.6 million which includes a house worth about $330,000. My annual expenses are about $50K which I will be able to drive down now that I'm retired by selling my car, more DIY, etc.

Also, my wife is still working and she makes about $25K per year. This is safety margin #1.

I used FireCalc to establish that my stache is big enough given that I can receive Social Security at 62. I assumed that we would not receive any SS for my wife which is safety margin #2.

I plan on doing a little software development work on the side as safety margin #3.

I plan on downsizing my house in three years after my son finishes college. This will significantly reduces taxes and utilities. This is safety margin #4.

I would like to have 6 more safety margins, but this is all I have for now. :)

rjack · « **Reply #24 on:** June 27, 2012, 06:54:34 AM »

Thanks everyone for the congratulations! I love this community!

It was both exciting and sad to leave work yesterday. I liked the team of people I work with, but the commute and work was poor. I was excited and savored the whole "it is a brand new life feeling."

Today, I'm starting my new life and I have created a schedule that includes a little "work", exercise, meditation and lots of goof-off time. Like Mrs. MMM I need some sort of structure to function well. Since I know longer have a structure imposed on me, I get to create my own which is pretty cool!

frugalman · « **Reply #25 on:** June 27, 2012, 08:59:14 AM »

Congratulations, Rjack!
I will be a VERY late retiree. I'm 62, and planning to work until my 66th birthday in 2016. I'm late to the party, but will have about $300,000 savings, and my home will be paid off at the end of this year, and never will I debt again. But I'm going to need my social security full retirement age income, and my wife's 4 years later, let's hope they keep paying. Otherwise, it's ramen noodles figuratively speaking off of the savings.

arebelspy · « **Reply #26 on:** June 27, 2012, 09:54:33 AM »

Quote from: frugalman on June 27, 2012, 08:59:14 AM

Congratulations, Rjack!
I will be a VERY late retiree. I'm 62, and planning to work until my 66th birthday in 2016. I'm late to the party, but will have about $300,000 savings, and my home will be paid off at the end of this year, and never will I debt again. But I'm going to need my social security full retirement age income, and my wife's 4 years later, let's hope they keep paying. Otherwise, it's ramen noodles figuratively speaking off of the savings.

You're close enough I wouldn't worry too much about the security of your SS.

And your accomplishments - 300k, paid off home - are things many will never accomplish. You'll be much better off than most. Well done.

Mr Mark · « **Reply #27 on:** June 27, 2012, 10:24:03 AM »

Quote from: rjack on June 27, 2012, 06:50:07 AM

Quote from: GP on June 27, 2012, 05:59:36 AM
That's fantastic news! if it's not a personal question - how big's your 'stache ?

My total net worth is approximately $1.6 million which includes a house worth about $330,000. My annual expenses are about $50K which I will be able to drive down now that I'm retired by selling my car, more DIY, etc.

Also, my wife is still working and she makes about $25K per year. This is safety margin #1.

I used FireCalc to establish that my stache is big enough given that I can receive Social Security at 62. I assumed that we would not receive any SS for my wife which is safety margin #2.

I plan on doing a little software development work on the side as safety margin #3.

I plan on downsizing my house in three years after my son finishes college. This will significantly reduces taxes and utilities. This is safety margin #4.

I would like to have 6 more safety margins, but this is all I have for now. :)

That sounds ample. Thanks for sharing.

Parr0thead98 · « **Reply #28 on:** June 27, 2012, 08:32:33 PM »

Rjack: u go, boi!!! Outstanding!

Count me in for next year! Just read MMM article on metalworking--has the wheels turning in my mind for my "next life."

How was your Day 1??

keith · « **Reply #29 on:** June 28, 2012, 01:11:51 AM »

Totally inspiring to see these posts!

Quote from: mechanic baird on June 26, 2012, 09:22:06 AM

I have 10 more years to go.. hopefully this forum will still be here for me to post this same post!! Real nice!!

I am betting that the forum will still be around. Its a nice little community and people will want to keep it going.

Can't wait for the day I can make one of these threads too...

VanishingPoint · « **Reply #30 on:** June 28, 2012, 04:22:37 AM »

Congratulations!

vwDavid · « **Reply #31 on:** June 28, 2012, 11:44:16 AM »

how have the first two days been rjack?

Mrs MM · « **Reply #32 on:** June 28, 2012, 01:25:13 PM »

OUTSTANDING!! I'm so happy to read this post!

You should keep a journal to track how things are going and then write a guest post for MMM 6 months down the road. It would be very interesting to read.

Creating a daily routine for yourself is definitely a great way to get started. I can't wait to hear more. This will be a very fun and educational time for you - congrats!

rjack · « **Reply #33 on:** June 29, 2012, 08:06:46 AM »

Quote from: Mrs MM on June 28, 2012, 01:25:13 PM

You should keep a journal to track how things are going and then write a guest post for MMM 6 months down the road. It would be very interesting to read.

I would be happy to write a guest post 3-6 months from now to describe my experiences and lessons learned.

carolinakaren · « **Reply #34 on:** July 24, 2012, 02:56:39 PM »

Um, sorry for the belated response, but......CONGRATUFUCKINGLATIONS!!! I'm so happy to read this:) I look forward to the guest post about your first six months!

News:

Author Topic: BAM - I'm retired! (Read 12500 times)

HeidiO