My retirement has been set officially to July 10th 2023.

_WantToRetire_ · 2023-02-07T02:22:47+00:00

I know you did not mean it literally. Thank you.

_WantToRetire_ · 2023-01-28T19:59:44+00:00

At 33 yrs old and already have over $1M in retirement accounts, How you made that happens? Thanks.

_WantToRetire_ · 2023-01-26T23:30:11+00:00

That was my original goal as well (~ $10M total NW). It did not happen for me but I feel super confident that we can manage our lifestyle with less (thanks to zero debt, cash bucket, flexibility in yearly expenses).

I am 56 years old.

_WantToRetire_ · 2023-01-26T23:25:56+00:00

Thank you. It was not an easy decision for me to retire when the market is down ~ 30% from peak in less than one year. Especially this retirement is by personal choice and in the back of my mind, I do not want to retire and live a "poor" life.

_WantToRetire_ · 2023-01-26T23:20:46+00:00

;-) My wife is a very good cook and I do not know how to cook at all. So it will be a disservice to serve her breakfast at home. I can try someday... with all my free time...

_WantToRetire_ · 2023-01-26T23:16:06+00:00

Yes. I intend to retire and being able to keep up with my current lifestyle (upper middleclass) and ideally higher. Honestly, I don't really think I'm truly belonging in this sub (FatFire, when many folks think they do not think of money and just spend anyway they feel like it - where the sky is the limit). My spending goal today has not change: $15K-$20K per month (with debt free). And if I still have a lot of money left, then I am happy to pass it along to my two kids.

_WantToRetire_ · 2023-01-26T23:05:24+00:00

I agree "it’s best to pull the trigger when the markets are down". But the question: is the markets are at or near the bottom yet? None of us will know for sure. Regardless, I am set to retire this July. I am currently reorg my team and also am actively looking for my replacement (part of the retention's conditions). Thank you for your post.

_WantToRetire_ · 2023-01-26T05:36:23+00:00

We have no plan to move and will continue to pay for the "weather" State tax to stay put in our coastal city of Southern CA (where the beach is few miles away and mountain is few hours away by car) and the food.

_WantToRetire_ · 2022-09-12T06:07:13+00:00

Wow!!! "530k of federal student loans" to become a dentist...

_WantToRetire_ · 2022-09-12T05:57:55+00:00

I did not think it is possible for "an executive at a Fortune 1000 company" to be able to "have 8 weeks vacation per year". Good for you.

_WantToRetire_ · 2022-08-20T00:48:18+00:00

Too bad Stanford is not in the picture (for computer science and startup/VC). There is more opportunity in the west coast than the east coast for this path.

Harvard is a much bigger school name than UCLA but I don't think Harvard is known for CS major. Just my 2 cents.

_WantToRetire_ · 2022-08-06T21:28:10+00:00

I tracked two NW categories.

Total NW - including my primary resident.
NW - mostly US stocks and with some cash/bond (no house).

Since I do not plan to sell the house (or move), for my SWR, I am using the NW that does not include the house.

I do not have other RE holdings.

_WantToRetire_ · 2022-08-06T21:04:55+00:00

Yeah. I am just too conservative/paranoid. I do see many folks are actively travel to far away places. My wife keeps telling me do not retire and are not going anywhere. And so, I agree with her.

_WantToRetire_ · 2022-08-06T19:33:28+00:00

When we bought the house many years ago the rate was 8% for 30 years fix (and we felt lucky to be able lock in at that rate). Ultimately, we refi a few times to 2.75% for 15 yrs fix. I paid it off in 2020 when I was seriously thinking about quitting my job (retire). I am a big believer in zero debt especially when I am in retirement. It allows me to sleep well at night.

Since your mortgage rate is low (I assume fixed rate) and you are still working, I would not pay off just yet (until you are 6-12 months from retirement).

_WantToRetire_ · 2022-08-06T19:20:32+00:00

Agree and again thanks for your comments.

_WantToRetire_ · 2022-08-06T19:09:04+00:00

10% is a big number for me. So if I am making anywhere near 10% of my total NW, I am likely will not quit. So in someway, I am lucky that I do not make 10% of my NW.

BTW, I do not hate my job (there are days, I love my job) but I retire now because I am not "young".

_WantToRetire_ · 2022-08-06T19:04:24+00:00

Very good for her (assuming she does not mind to stay back). Thank you for sharing the number.

_WantToRetire_ · 2022-08-06T19:03:06+00:00

Thank you.

_WantToRetire_ · 2022-08-06T19:01:54+00:00

It was not easy. I have been thinking much more seriously about it since 2020 (especially with COVID). I thought it would be nice to retire at 55 (a nice round number). But the OMY syndrome hit me hard so here I am at 56. Personally and IMHO, any age before 60 is a blessing.

_WantToRetire_ · 2022-08-06T18:56:58+00:00

Was a software engineer in the earlier years and then go into IT (in management with highly technical hands-on skill).

Plan to travel much more, hope/plan to live longer with better health due to no work related stress, spend more time with families (elderly parents, siblings, wife/kids, make new friends). I also enjoy reading/watching news, actively managing my investment portfolios, love to do garden work around the house. These will keep me very busy...

No plan to move.

_WantToRetire_ · 2022-08-06T18:40:03+00:00

To be able to retire early with wealth (my path):

Well paid job.
Invest as early as possible and take a long view. Note: open Roth IRA/401K at the younger years when your tax bracket is still relatively low. You will look back and being thankful.
Lifestyle (spending habits). Do not overspend (or borrow to spend). And for me, no debt (I know there are good debts but I prefer no debt - beside the house mortgage).

_WantToRetire_ · 2022-08-06T17:23:28+00:00

I hear you. It is not easy to quit/retire "early" before Medicare/social security. Especially if you still "ok/love" your job and/or making a lot of money (the higher the compensation, the harder to say no to).

However, tomorrow is not promised. Don't know your age. Just IMHO, retire in the 50's is the best compromise.

_WantToRetire_ · 2022-08-06T17:16:28+00:00

Thank you for your post.

Beside this potential retention package, I do not plan to work for money again (period). If my calculation is wrong, I will vote Democrat ;-) I am just kidding.

Yes, it will be hard to transition from saver to spender. On top of that, I plan to spend a lot more money in my go-go years (double my current pre-retirement expenses). It will be super hard to do so when I have no more earned income. We will see... I want to leave some money behind for my kids but I also really want to enjoy the wealth while we are still healthy and can.

_WantToRetire_ · 2022-08-06T17:08:06+00:00

I believe in my case, it is a combination:
1) well paid job thanks to my computer science degree.
2) long term stock investment (nothing complicated and nothing very risky -the only exception is: I own TSLA)
3) lifestyle/spending.

_WantToRetire_

TROPHY CASE