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Thread: How did you decide/plan to ER?

  1. How did you decide/plan to ER?

    Until this year the idea of ER seemed well crazy. I never calculated or figured out when we could do it. It still seems a bit out of reach.

    We've always LBOM, saved, and budgeted. And frugality and budgeting has always been second nature. But we just assumed we'd work until retirement age then retire. Now the idea that we could do it earlier seems possible. I might add that we always planned to be FI, just never considered ER. I always looked at how soon we could pay off the mortgage and have enough saved for college.

    Now more than ever I am dying for FI to come. I don't know if it means we'll ER, but at least it'll give me peace of mind to know whatever happens we can weather.

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  3. #2
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    Re: How did you decide/plan to ER?

    In my case it was a combination of health reasons, job stress and just hating my job. I have arthritis throughout my body and sitting at a desk on a computer for ten hours a day didn't help it. We worked with a financial planner to see if we could make ER happen, and we found we were in good shape. I gave my notice a few months later. My DW will join me in ER sometime this year.
    Since I've retired my health has improved significantly because I now have time for exercise and don't sit in the same position for so many hours at a time. Life is good!


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    Re: How did you decide/plan to ER?

    Until this year the idea of ER seemed well crazy. I never calculated or figured out when we could do it. It still seems a bit out of reach.

    We've always LBOM, saved, and budgeted. And frugality and budgeting has always been second nature. But we just assumed we'd work until retirement age then retire. Now the idea that we could do it earlier seems possible. I might add that we always planned to be FI, just never considered ER. I always looked at how soon we could pay off the mortgage and have enough saved for college.

    Now more than ever I am dying for FI to come. I don't know if it means we'll ER, but at least it'll give me peace of mind to know whatever happens we can weather.
    I found a magazine on homesteading at a relatives house and realized the people in the magazine were getting more sunshine, exposure to nature, fresh air and exercise than we were and living off very little money because they were so self sufficient. We didn't want to grow crops or have livestock as that seemed like too much work for us. Then I started finding books and blogs on urban homesteading and sustainable living. We realized living more sustainably would be better for the planet and allow us to cut our expenses enough to ER.

    Juliette Schor has a book on this concept called Plentitude. The idea is to work less hours (if you can) and cut expenses by having time to do more for yourself, spend less money on consumer goods and live more sustainably -

    Webmaster and Business Idea Forum

    She is also the author of the Overworked American and The Overspent American.


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    Re: How did you decide/plan to ER?

    How did you decide/plan to ER? Some time in the early 80's I had dinner with a high school buddy I'd kept up with over the years. He told me about his plans to retire in his early 50's. Like me, he had two young daughters in school (we were in our 30's at the time), but unlike me he had a very high paying job working in the "awl bidness" in Saudi.*

    I knew I'd not reach FI as quickly as he would, but his plan inspired me to take a realistic look at what was possible for us. I set a target for retiring before age 60, later revised it to age 57. At age 56 I did succumb to OMY syndrome (delayed a year to pay off the mortgage) and retired at age 58.

    *My buddy did retire at age 50. Unfortunately his last day of work was Dec 31, 1999 and he was heavily invested in tech stocks. His portfolio suffered a huge loss.

    He returned to work in 2002 making really good money and after working five more years managed to amass another nice nest egg. He retired again in 2007 (see where this is headed?) only to have the bottom drop out of his portfolio once again.

    Based on his previous experience with the tech stock decline, he had no faith the market would come back so he returned to work in 2009 for what would be the final time. Before he was able to rebuild his nest egg for the third time, he began having memory problems and unusual behavioral issues. He retired again in 2010 (at age 60) and was diagnosed with Webmaster and Business Idea Forum, also known as Pick's Disease, an incurable atrophy of the front portion of the brain. He's been in a nursing home for the past year.

    Carpe diem.


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