Anyone retire a little early?

[Anonymous]

34, $3.25m net worth. $2.9m in equities, and $350k in real estate equity (which kicks off $7k/mo after expenses).

[Anonymous]

Anonymous wrote:My dad retired my dad retired at 60 - full pension NW around 5M. He waited till 70 to take SS. Worse decision I have ever seen up close. He has wasted the last 15 years watching tv and getting into fights with his brothers. Most of his friends didn’t retire until a few years ago. He says it was like getting to the playground hours before any one else shows up.

My takeaway- you need to work until you definitely have something better to do.

My dad didn't retire early. Worked until he was 73. Saved pretty much every penny he ever made. Could have retired years before. Had a year or two of a great retirement until Covid hit and shut the world down. During which he found out he had pancreatic cancer and was dead at 78.

My takeaway - tomorrow isn't guaranteed.

[Anonymous]

Anonymous wrote:34, $3.25m net worth. $2.9m in equities, and $350k in real estate equity (which kicks off $7k/mo after expenses).

350k in real estate nets you 7k/month? Sure buddy

More like 1.2k/month in the real world.

[Anonymous]

Age 46, $2M net worth plus a fully paid off condo. I've thought about quitting soon, but I want to stick it out until 57 to get my guaranteed lifetime healthcare. If I leave now, I will get a pension of $3,150 a month at age 60 (14 years away), but no healthcare benefits. I would have to rely on Obama care for 19 years until I get Medicare at age 65.

[Anonymous]

Anonymous wrote:Age 46, $2M net worth plus a fully paid off condo. I've thought about quitting soon, but I want to stick it out until 57 to get my guaranteed lifetime healthcare. If I leave now, I will get a pension of $3,150 a month at age 60 (14 years away), but no healthcare benefits. I would have to rely on Obama care for 19 years until I get Medicare at age 65.

I've gone without health insurance most of my life. Skipped regular check-ups and the few pushed by the doctor, all came back normal. I'm about to go without insurance again at 48.
Going to doctors is pain in its own. Not having to work is what keeps me even healthier as I have time for my health.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Age 46, $2M net worth plus a fully paid off condo. I've thought about quitting soon, but I want to stick it out until 57 to get my guaranteed lifetime healthcare. If I leave now, I will get a pension of $3,150 a month at age 60 (14 years away), but no healthcare benefits. I would have to rely on Obama care for 19 years until I get Medicare at age 65.

I've gone without health insurance most of my life. Skipped regular check-ups and the few pushed by the doctor, all came back normal. I'm about to go without insurance again at 48.
Going to doctors is pain in its own. Not having to work is what keeps me even healthier as I have time for my health.

Pre-ACA skipping health insurance was a huge gamble because you could become uninsurable. Develop cancer and you are completely on your own.

[Anonymous]

I know a couple that did this.

Late 50s.

They are exactly the same people that they were when they worked except they didn’t have coworkers, so they became needier and more demanding of everyone else they’ve ever met.

[Anonymous]

Anonymous wrote:I know a couple that did this.

Late 50s.

They are exactly the same people that they were when they worked except they didn’t have coworkers, so they became needier and more demanding of everyone else they’ve ever met.

So they're weirdos. Got it. Doesn't mean everybody else would be.

[Anonymous]

The thing people miss is a lot of men have SAHM wives who run house, plan activities and the man works. The man once retired has no purpose at home and now no job.

Add in if someone like me who enjoys his job a lot, it is fairly easy and I am well paid I am in. I rush to retire.

And volunteering is free. I rather work and get paid. And once I hit 63 was point work stress disappeared. Meaning I have enough to retire so if laid off will get severance and unemployment and could retire or even look
Another job if I want. But difference is I won’t be stressed.

I will plan on working till 67 and newsflash that is normal retirement age. But at 67 if job still easy and get paid will stay till 70 if blessed with health. I WFH three days a week and get a months vacation and 10 holidays. I only go to office on average 100 days a year so I am home 265 days a year.

Now if it was 2019 when I was in person 5 days a week from 830 am to 630 pm I might retire today.

BTW young people are kinda dumb, 1/2 of my mgt team at work is old enough to retire. But when we went to only two days in office they are hanging on.

Some make $25,000 a month for coming to office 8 days a month they will die at work.

[Anonymous]

Anonymous wrote:Age 46, $2M net worth plus a fully paid off condo. I've thought about quitting soon, but I want to stick it out until 57 to get my guaranteed lifetime healthcare. If I leave now, I will get a pension of $3,150 a month at age 60 (14 years away), but no healthcare benefits. I would have to rely on Obama care for 19 years until I get Medicare at age 65.

Smart choice! Healthcare thru ACA gets expensive in the 50-65 range. Especially if you are used to good healthcare benefits for low price (paid for by employer). Our plan costs $2500/month for COBRA. We will pay ~$3K/month for a similar medical/dental/vision plan once cobra ends. And it's not that similar---ACA plan has very high deductibles (versus our current $1.25K/$2.5K deductibles).

You don't want to be paying $36K/year for healthcare coverage (and more for actually using it---which you will likely need more in your 50s/60s) when you could have it for free.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Age 46, $2M net worth plus a fully paid off condo. I've thought about quitting soon, but I want to stick it out until 57 to get my guaranteed lifetime healthcare. If I leave now, I will get a pension of $3,150 a month at age 60 (14 years away), but no healthcare benefits. I would have to rely on Obama care for 19 years until I get Medicare at age 65.

I've gone without health insurance most of my life. Skipped regular check-ups and the few pushed by the doctor, all came back normal. I'm about to go without insurance again at 48.
Going to doctors is pain in its own. Not having to work is what keeps me even healthier as I have time for my health.

Pre-ACA skipping health insurance was a huge gamble because you could become uninsurable. Develop cancer and you are completely on your own.

And that can still happen. You cannot just add ACA mid year. If you get cancer diagnosis in January, you are not waiting until the next Jan to get treatment (or at least I hope not!). One major health issue could cost you $500K+ if you are not insured.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I know a couple that did this.

Late 50s.

They are exactly the same people that they were when they worked except they didn’t have coworkers, so they became needier and more demanding of everyone else they’ve ever met.

So they're weirdos. Got it. Doesn't mean everybody else would be.

You actually need somewhere to direct your energies when retired. Spouse (executive/CEO for 15+ years) retired and the first year was an adjustment, as they were use to "managing people" and I didnt want to be the new "managed people". You have to learn how to go without that power and find a way to redirect it.

[Anonymous]

Anonymous wrote:The thing people miss is a lot of men have SAHM wives who run house, plan activities and the man works. The man once retired has no purpose at home and now no job.

Add in if someone like me who enjoys his job a lot, it is fairly easy and I am well paid I am in. I rush to retire.

And volunteering is free. I rather work and get paid. And once I hit 63 was point work stress disappeared. Meaning I have enough to retire so if laid off will get severance and unemployment and could retire or even look
Another job if I want. But difference is I won’t be stressed.

I will plan on working till 67 and newsflash that is normal retirement age. But at 67 if job still easy and get paid will stay till 70 if blessed with health. I WFH three days a week and get a months vacation and 10 holidays. I only go to office on average 100 days a year so I am home 265 days a year.

Now if it was 2019 when I was in person 5 days a week from 830 am to 630 pm I might retire today.

BTW young people are kinda dumb, 1/2 of my mgt team at work is old enough to retire. But when we went to only two days in office they are hanging on.

Some make $25,000 a month for coming to office 8 days a month they will die at work.

Except with volunteering you choose your hours and don't take work with you once you leave. For most people in their 50s+, their job is all consuming and it often isn't just 8 hour days. And they certainly are working their asses off even if "not in the physical office". So retirement is a mental break.

[Anonymous]

Just retired at 55. Had kids early, so last kid was out of college and well employed and carried his own health insurance when i was 52. No pension. No mortgage and some passive income from rentals. One big infusion made it happen from a company my DH worked for that went IPO and then went on a run in the best bull market in our lifetime.

I really don’t know our NW off the top of my head. we have very low expenses having financially independent kids and no mortgage. Our biggest monthly expense by far is health care. we do travel out of country for dental work, but that’s also in a very fun city we enjoy going.

having kids in our early 20s was by far the biggest boost to future prosperity and not needing to work into old age. I do have friends who are my age with kids in high school still!

[Anonymous]

54 and looking to retire next year. $4.2M in savings. $600K mortgage on a house worth $1.2M (but mortgage at 1.75%, so we don't want to pay it off). Kids outta college and self-sufficient. Expenses about $150K annually, but that's with lots of places to trim fat if times get leaner (20K travel, 1K/mo for toys, etc).

Is that enough? The models say yes ... but also I got diagnosed w/ stage 4 prostate cancer last year ... tumors are gone but it could come back any time ... work is OK, but I'm not looking to do it til the bitter end.