Author Topic: Had the first "we can retire in..." conversation with spouse  (Read 4864 times)

ysette9

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Had the first "we can retire in..." conversation with spouse
« on: August 04, 2014, 06:48:49 PM »
My husband and I finally found the time for a finances date yesterday afternoon (having a baby puts that kind of thing on hold for a while). Among our goals and timelines I started introducing the concept of the "bigger picture" and putting things like saving for a house in context of figuring out what our overall life goals are. My husband started talking about how he could see himself working until 60; "that is 27 years away, I can do that". My response was that was ludicrous and that we could retire easily at 45 without changing anything about our current lifestyle and could probably retire earlier than that if we worked at it a bit.

He seemed a bit taken aback at first and asked to see my numbers. I pulled out my spreadsheets and started telling him about 3% and 4% withdrawal rates, how much we have saved so far, overall saving rate and so forth. He seemed to really get it and had a very positive response. It feels amazing to have him on board with the idea (so far), and have him understand why cash flow and when we can pay off our future mortgage is so important to me. Sweet!

Bigote

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Re: Had the first "we can retire in..." conversation with spouse
« Reply #1 on: August 04, 2014, 07:55:20 PM »
Awesome!   

rocklebock

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Re: Had the first "we can retire in..." conversation with spouse
« Reply #2 on: August 04, 2014, 07:59:47 PM »
Nice, glad to hear about conversations like this that go well.

Thegoblinchief

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Re: Had the first "we can retire in..." conversation with spouse
« Reply #3 on: August 05, 2014, 10:48:05 AM »
Nice! When I first pitched MMM to my wife, it was 45. Now it may be closer to 40. Super excited about that.

dragoncar

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Re: Had the first "we can retire in..." conversation with spouse
« Reply #4 on: August 05, 2014, 11:29:18 AM »
So you waited until well after the baby was born?  Dude, your timing rocks!

Gone Fishing

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Re: Had the first "we can retire in..." conversation with spouse
« Reply #5 on: August 05, 2014, 12:26:03 PM »
I bet he was surprised!  Interesting how most couples have a "financial matters" partner.  I try to keep my wife informed and up to date on where everything is and how it is going to work in ER.  She understands but will not engage too much because the whole ER thing stresses her out!

Mrs. Frugalwoods

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Re: Had the first "we can retire in..." conversation with spouse
« Reply #6 on: August 05, 2014, 02:25:25 PM »
That's awesome! Good for you!

Cheddar Stacker

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Re: Had the first "we can retire in..." conversation with spouse
« Reply #7 on: August 05, 2014, 02:48:53 PM »
Cool, glad to hear it went well.

My husband and I finally found the time for a finances date yesterday afternoon

When we find time/babysitters for a date, finances are not what my wife has in mind for discussion topics. It tends to come up anyway since we've slowed down and she knows it's on my mind, but it's cool you were able to devote an entire date to it.

arebelspy

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Re: Had the first "we can retire in..." conversation with spouse
« Reply #8 on: August 29, 2014, 11:21:29 AM »
My husband started talking about how he could see himself working until 60; "that is 27 years away, I can do that". My response was that was ludicrous and that we could retire easily at 45 without changing anything about our current lifestyle and could probably retire earlier than that if we worked at it a bit.

If you were already on track for that, he must have been on board already with living fairly frugally and investing a decent chunk.  Awesome that he's willing to look at ERing as an option.  Now you just need to implant a dream of what life will look like after FIRE to kcikstart it into high gear.  :)
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