Hello from Canada
I’m in my 40s, married with 1 child and I know that I can retire
Because I did retire. On a couple of occasions, and for 2 years each time, I retired and planned never to return to the workforce. But I was one of the unfortunate few who eventually became so bored in retirement that I went back to work
During these “Retire Early” trials I started going to bed later and later, until I found myself going to sleep when the sun came up. Personal grooming eventually fell off a cliff and I went out in my PJs (the pants at least, sometimes I wore a hoodie or jacket)
I also got lazy. With no schedule, I spent my time gaming, reading, eating and getting fat (Today I still game and read but I eat healthier and am no longer fat)
Travel became boring. The problem was that I was never a history or architecture buff. In yet another foreign city I commented to my DW that you could just replace all the street signs in whatever language you wanted and tell me that I was in whatever country - it all looked and felt the same. Same old churches, temples and buildings. Same restaurant feel - rustic or modern. Same materials/layout of hotels or bed and breakfast. Same airports and planes. Same tourist traps. All same. Beach vacations were worse. All same, but faster
I took up a couple hobbies, but none required 16 hours a day, every day, 7 days a week, 365 days a year, which is how much time I had
Friends suggested many things that I wouldn’t do even if somebody paid me - arts and crafts, clean the house, learn a language, learn an instrument, sit in a lecture hall, work around the home, gardening, hiking, etc. I would rather just go back to work if I had to do those things. I hate doing all those things
Another unforeseen problem was the lack of social interaction with co-workers and friends. And finding people in my 30s and 40s who weren’t busy with work, raising children or both was impossible. Nobody was able to meet with me during the free time that I had available - which was any time, all the time. They could only meet on weekends (maybe) or for lunch (infrequently)
The experience of retiring was priceless nonetheless. I now know what to expect
Financial Stuff
If there was a study to show that financial freedom is based on luck, I would be Exhibit A
My tax knowledge is low. My investing knowledge is slightly higher, but still low. I am carried 99% by my temperament and 1% by low-grade arithmetic
I typically work 20-24 hours a week at Fortune 500 MegaCorp. During a busy week I work 40. I’m efficient and work from home. I’m not an executive and don’t manage people. I would hate that. I don’t work for the pay. In fact I don’t spend any of it. It all gets banked (I’ll get to that later).
I have a NW of a little over $5m with no debt
I have US index funds, BRKb stock, US RE, my primary residence (CAN RE), and cash. Equity/RE/cash split is approximately 30%/60%/10%
I’m both a market timer and regular investor of low-fee US index funds via MegaCorp’s DCPP
I market timed a few things:
1. During the tech crash by buying BRBb pre-reverse-split from $2400 down to $1400
2. CAN RE during our real estate downturn in the 1990s
3. Low fee US index funds during the Great Recession (done in my Canadian Registered Retirement Savings Account and MegaCorp’s DCPP)
4. US rental real estate during the Great Recession. I achieved my goal of replacing my annual cashflow needs for my household with these rentals. That’s why I don’t really need to spend any of my pay from MegaCorp
I’ve tracked my annual spending for years and spend $6000/mo.
Retiring has given me a gift and that is a new found appreciation of working @MegaCorp. I’m a happier person now
I don’t plan to post much, I’m more of a lurker, but I’ll answer questions re: this topic or chat via PM
Best