Author Topic: Six years in, thoughts from a Mustachian turning 53  (Read 4479 times)

hybrid

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Six years in, thoughts from a Mustachian turning 53
« on: August 16, 2019, 08:30:17 PM »
In a few hours it will be midnight on the East Coast and I will turn 53. I haven't posted in quite a while, here are a few thoughts....

Thought 1: It's been over six years since I found a different lifestyle, and it hasn't grown old. I brought a few friends along with me for the ride, and for most it hasn't stuck to a lasting degree bur for a few others it has. If you are new to this and are thinking "Is this just a fad", I assure you it isn't. It's a game changer - if you want to change your game.

Thought 2:  Six years in, the closer I get to FIRE, the less I care about my work. Now don't get me wrong, I still care a lot about doing a good job for the people who have placed their trust in me, I just have a hard time caring about *the work* itself. I have been in IT 21 years. The thrill is mostly gone. The relationships though, that's where I find a lot of value.

Thought 3: I cannot wait to pay off the house - 49K to go. I appreciate what people say about not paying off a home when the mortgage rate is rock bottom and you can make money elsewhere, there is something deeply satisfying about being truly debt free. We paid off two small rentals first and that felt great too. I highly recommend this.

Thought 4: The home stretch has me itching to get out of the rat race. DW is done, we got her retired three years ago. Technically I could be done too if I felt we could live comfortably on 55K a year (combination of her pension, SS if she takes it, rentals and investments), but I just don't feel good enough about it to pull the trigger, my mother is in assisted living and I might need to help her in a few years financially.

Thought 5: I can't decide when I'm done working full time. I keep saying two years, my 55th birthday. It could be one year, it could be four.  I'm thinking if I can comfortably make 30K in part time work I should get out sooner than later. Maybe it really is just one year to go.... maybe....

Thought 6: It's hard to be truly Mustachian working long hours - and that has been my life for the last 4+ years. I actively traded time for money, I don't regret it, it's shaved years off my retirement date. I gave myself the moniker Hybrid because I've never 100% embraced the notion that DW and I could live on 35K a year. But man, if I wasn't working these long hours and could throw myself into a much more truly frugal lifestyle??? That is like a siren song.   

Thought 7: I don't miss my old lifestyle. I don't miss the country club, a new car every five years, cable TV, any of that stuff. I found pickleball and instantly became addicted. Eating out feels wasteful most of the time - I cook so much better than what I eat out usually. If you are wondering "Can I really change old habits???" I was a 25 year golf junkie and gave it up cold turkey. I haven't bought a new car since 2010 (and that was Mazda 3, nothing particularly fancy). I don't watch much TV any more - and don't miss it.

Your thoughts?

TVRodriguez

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #1 on: August 16, 2019, 10:05:18 PM »
Happy birthday!  Thanks to your post (and Google), I now know what pickleball is.

Sounds like you've found a good groove.  As someone who cut back on work myself rather than push full time towards RE, I find myself happier with the balance of work and family and me time.  If you think that it might work for you to cut back on paid work, explore the possibility.

brooklynmoney

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #2 on: August 16, 2019, 10:09:21 PM »
Happy birthday. Hope you are FI soon!

Dicey

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #3 on: August 17, 2019, 07:43:14 AM »
Happy birthday!  I FIRE'd almost seven years ago, at 54. It's been worth every economy it took to get there and then some.
« Last Edit: August 17, 2019, 04:11:30 PM by Dicey »

2sk22

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #4 on: August 17, 2019, 07:44:20 AM »
Looks like you're heading in a good direction! I share your feelings about work. At one point, it was the most important thing in the world but as you say, it gets old after a while.

henramdrea

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #5 on: August 17, 2019, 08:02:54 AM »
Happy birthday, and thank you for your insights!

I'm nearly EXACTLY in the same spot as you, minus about 6 months.  I'll turn 53 in January and have about $40K left of my mortgage.

Here's where I'm WAY behind you:   I've got a puny 'stache, more sitting in home equity than 401/403/IRA investments.  I'm planning to even that out in the next few years.  I've still got kids at home, but the next 5 years should be interesting as it may include some downsizing from the McMansion to something more "normal".  I'm looking to dial back the FT W-2 work to about 1/2 time when I'm 60, likely be work-optional at 62.

Appreciate your post, you're my inspiration for the day, best wishes to you!

happy

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #6 on: August 17, 2019, 08:23:05 AM »
Happy Birthday Hybrid! I relate to a lot of your thoughts. I retired last year at 60 after finding the way of the Mustache 6-7 years prior. I also donít miss a lot of the things I stopped when I redesigned my lifestyle. There might be some folk here who are 100% mustachios, but a lot of us have some hybrid habits. Currently Iím on a very spendy trip through Northern Canada...

pachnik

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #7 on: August 17, 2019, 08:59:55 AM »
Happy Birthday + Mustache Anniversary, Hybrid!

I think you and I found MMM around the same time after that article in the WaPo. 

I am still working but am okay with that.  But the financial changes I made have pretty much stuck.  My husband and I both save about a third of our incomes.  And since I am not frittering my money away, we can afford much nicer vacations than before MMM.  So a huge win here too.

Thanks for dropping in!

golfreak12

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #8 on: August 17, 2019, 09:12:02 AM »

Thought 7: I don't miss my old lifestyle. I don't miss the country club, a new car every five years, cable TV, any of that stuff. I found pickleball and instantly became addicted. Eating out feels wasteful most of the time - I cook so much better than what I eat out usually. If you are wondering "Can I really change old habits???" I was a 25 year golf junkie and gave it up cold turkey. I haven't bought a new car since 2010 (and that was Mazda 3, nothing particularly fancy). I don't watch much TV any more - and don't miss it.

Your thoughts?

I can't give up golf. That will take a lot of free time when I get done.
I'm still lusting for the mid-engine Corvette thats coming out.
Otherwise Happy Birthday. Mine is in 3 days.

hybrid

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #9 on: August 17, 2019, 09:17:24 AM »

Thought 7: I don't miss my old lifestyle. I don't miss the country club, a new car every five years, cable TV, any of that stuff. I found pickleball and instantly became addicted. Eating out feels wasteful most of the time - I cook so much better than what I eat out usually. If you are wondering "Can I really change old habits???" I was a 25 year golf junkie and gave it up cold turkey. I haven't bought a new car since 2010 (and that was Mazda 3, nothing particularly fancy). I don't watch much TV any more - and don't miss it.

Your thoughts?

I can't give up golf. That will take a lot of free time when I get done.
I'm still lusting for the mid-engine Corvette thats coming out.
Otherwise Happy Birthday. Mine is in 3 days.

Hey, if you can afford that, more power to you! I still enjoy golf as well, I just can't justify the 7K it was setting me back. Now, having said that, I have met more than my share of folks who work part time at a course in exchange for free golf. I could definitely see doing that sort of thing...

hybrid

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #10 on: August 17, 2019, 09:19:44 AM »
Happy Birthday + Mustache Anniversary, Hybrid!

I think you and I found MMM around the same time after that article in the WaPo. 

I am still working but am okay with that.  But the financial changes I made have pretty much stuck.  My husband and I both save about a third of our incomes.  And since I am not frittering my money away, we can afford much nicer vacations than before MMM.  So a huge win here too.

Thanks for dropping in!

That sounds right Pachnik - good memory! The WaPo was how I found this and WOW, what a game changer that was. I'm glad to hear things are going well for you, tip of the virtual hat to you! ;-)

hybrid

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #11 on: August 17, 2019, 09:26:53 AM »
Happy birthday, and thank you for your insights!

I'm nearly EXACTLY in the same spot as you, minus about 6 months.  I'll turn 53 in January and have about $40K left of my mortgage.

Here's where I'm WAY behind you:   I've got a puny 'stache, more sitting in home equity than 401/403/IRA investments.  I'm planning to even that out in the next few years.  I've still got kids at home, but the next 5 years should be interesting as it may include some downsizing from the McMansion to something more "normal".  I'm looking to dial back the FT W-2 work to about 1/2 time when I'm 60, likely be work-optional at 62.

Appreciate your post, you're my inspiration for the day, best wishes to you!

Awwwwww, thanks! Well, forgive me disagreeing a little bit, but I doubt your 'stache is all that puny, it just sounds like it is tied up in a great big house. Our two kids have moved out so we are ahead of the game there. If you are willing to downsize from a McMansion once the kids move then you probably just freed up a LOT of money to grow a "money tree" from. If you went from 500K to 300K then suddenly you have 200K liquid. 200K making 5% is 10K a year, or a $833/mo. dollar money tree. That, and you just saved a lot of money on insurance and taxes as well.

Something that works very well for us, we do NOT live in a neighborhood with great schools or shopping. This allowed us to buy a fantastic older home relatively cheaply (2400 SF brick ranch currently valued at 240K), the same home in a nicer part of Richmond goes for 400-450K.

RWTL

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #12 on: August 17, 2019, 09:35:12 AM »
Happy Birthday!  I too am finding it hard to find joy at work like I once did - but still do a good job, and work my butt off (50-55hours / week).


Rosy

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #13 on: August 17, 2019, 12:09:17 PM »
Happy Birthday and congrats for staying the course for six years. Sounds like you are on solid ground. Mr. R. is looking at 3+ more years to fire at 62, but it's nice to know that if something happened he could fire now and we'd be OK.

You gonna throw a mortgage pay off party? BBQ?

MrThatsDifferent

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #14 on: August 17, 2019, 03:07:24 PM »
Thanks for sharing those thoughts and HBD! Iím planning on being 54 when I pull the trigger. Iím in my 3rd year of this journey and I hear what youíre saying about game changer. Wow! If only I got this message when I was younger. Anyways, itís re-orientated my life and couldnít be happier with that part.  I had no relationship to money before this except spending it to make myself or others happy. Now I see it as the ticket to freedom.

Youíre in control of your destiny. Youíre set up well. You can pull the trigger and still find some part-time work if you need to. Donít let fear of the unknown hold you back. You only get one life.

ReadySetMillionaire

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #15 on: August 17, 2019, 03:51:26 PM »

Thought 7: I don't miss my old lifestyle. I don't miss the country club, a new car every five years, cable TV, any of that stuff. I found pickleball and instantly became addicted. Eating out feels wasteful most of the time - I cook so much better than what I eat out usually. If you are wondering "Can I really change old habits???" I was a 25 year golf junkie and gave it up cold turkey. I haven't bought a new car since 2010 (and that was Mazda 3, nothing particularly fancy). I don't watch much TV any more - and don't miss it.

Your thoughts?

I can't give up golf. That will take a lot of free time when I get done.
I'm still lusting for the mid-engine Corvette thats coming out.
Otherwise Happy Birthday. Mine is in 3 days.

Hey, if you can afford that, more power to you! I still enjoy golf as well, I just can't justify the 7K it was setting me back. Now, having said that, I have met more than my share of folks who work part time at a course in exchange for free golf. I could definitely see doing that sort of thing...

Search my post history. We have a thread going about golfing on the cheap. (I'm on an iPad and can't manage switching tabs and all that).

I play 2-3x a week and spend maybe $1,000-1,500/year. Check out your local muni courses, walk, play in twilight hours, etc. Golf does not have to be an expensive hobby.

jfer_rose

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #16 on: August 17, 2019, 04:13:15 PM »
Happy Birthday + Mustache Anniversary, Hybrid!

I think you and I found MMM around the same time after that article in the WaPo. 

I am still working but am okay with that.  But the financial changes I made have pretty much stuck.  My husband and I both save about a third of our incomes.  And since I am not frittering my money away, we can afford much nicer vacations than before MMM.  So a huge win here too.

Thanks for dropping in!

That sounds right Pachnik - good memory! The WaPo was how I found this and WOW, what a game changer that was. I'm glad to hear things are going well for you, tip of the virtual hat to you! ;-)

Happy birthday hybrid!

I'm another who discovered this website from that WaPo article. It's fun to hear where others who started around the same time are today. I am pleased to say that I just quit my job. I'm lean FI and am starting a 1-year program at the community college shortly to learn new (Mustachian) skills that will hopefully allow me to earn a bit of extra money to serve as my buffer.

Cannot Wait!

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #17 on: August 17, 2019, 05:00:10 PM »
Happy Birthday!   
Life is short - don't spend another DAY doing a job that doesnít inspire you. 
Can your wife pick up a part time job so you both can work a little and make it happen?

brooklynmoney

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #18 on: September 21, 2019, 06:43:26 PM »
Happy birthday and cheers to FIREing in the 50s. I hope to follow you in 5 to 10 years.

KBCB

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #19 on: September 22, 2019, 08:48:34 AM »
Happy Birthday!
I like posts like these. I like to hear how it works for different folks :)

soccerluvof4

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #20 on: September 23, 2019, 03:34:11 AM »
Happy Much belated birthday! Your definitely struggling with the one more year syndrome. I was guilty of that myself but like @Dicey I pulled the plug almost 5 years ago at 50 and best decision I ever made. I went into with this in mind that if it got to the point I had to do something to makes some coin I knew I could. For me after about 4.5 years I wanted to do something so this spring /Summer I took on some cash jobs and presently am flipping a house. I am with you on your #7 point and I think your answer is in your #5 point. Best of luck!

FamilyGuy

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Re: Six years in, thoughts from a Mustachian turning 53
« Reply #21 on: October 10, 2019, 06:55:33 PM »
Nice thoughts. Thanks for sharing.