285 days to retirement

A couple years ago, retirement was off in the distant future. Now that it's in sight, it's like a new chapter in my life.
It's getting harder and harder to do what use to be easy.
Letting go of some of my responsibilities at work has been bitter sweet. I'm still concerned about the business. I'm taking on more of a sit back and watch roll.
I'm here for questions and direction. I've been the general manager of this Ford dealer for 100 years. (since the early 90's)
I'm letting my parts and service director get his feet really wet.
I think what's happening to me is probably the natural order of things. I would hate to be sitting here and not be able to retire financially.
I am blessed we made priorities decades ago.
 
Janderso said:
That's quite a spread Gaffer.
hey, maybe I should change my Avatar. What do you think?
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I love that photo! Yeah, it's quite a spread, and I'm doing my best to make the 5-year goal. My wife and I were planning to leave CA, but so many others have beat us to it, and blown up the real estate markets, we're going to stay - and we're climate picky. We acquired a 2.5-acre parcel not far from mksj, and will be building on it. The additional 3-years in my timeline is to hedge my bet against inflation and building costs - like vtnc noted. Our lot is in Oceanside but has a Fallbrook address. It's a great agricultural area known as Morro Hills.
 
Gaffer said:
I love that photo! Yeah, it's quite a spread, and I'm doing my best to make the 5-year goal. My wife and I were planning to leave CA, but so many others have beat us to it, and blown up the real estate markets, we're going to stay - and we're climate picky. We acquired a 2.5-acre parcel not far from mksj, and will be building on it. The additional 3-years in my timeline is to hedge my bet against inflation and building costs - like vtnc noted. Our lot is in Oceanside but has a Fallbrook address. It's a great agricultural area known as Morro Hills.
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That part of the country has very pricey property values. 2.5 acres is great!
I'm wishing you an early retirement.
I keep looking at the stock market, wow, a correction has got to be close. My guy says, not to worry. Our stock exposure is less every year.
I'm sure many of us depend on dividends and income earning funds.
 
Janderso said:
That part of the country has very pricey property values. 2.5 acres is great!
I'm wishing you an early retirement.
I keep looking at the stock market, wow, a correction has got to be close. My guy says, not to worry. Our stock exposure is less every year.
I'm sure many of us depend on dividends and income earning funds.
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I agree with you that there will be a correction, and thought it would have come by now. The experts say we're good and not to worry, but I do. A couple of months ago, I switched from aggressive to stable equity. I've given up some growth, but I'll accept that at this stage of the game, and I don't want to take a big hit this close to retirement. I may or may not be in working long enough to recover from it as I have before.
 
Gaffer said:
I agree with you that there will be a correction, and thought it would have come by now. The experts say we're good and not to worry, but I do. A couple of months ago, I switched from aggressive to stable equity. I've given up some growth, but I'll accept that at this stage of the game, and I don't want to take a big hit this close to retirement. I may or may not be in working long enough to recover from it as I have before.
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I'm kicking myself for reducing my securities early. Had my crystal ball told me the Dow would hit 34,000 this year, I would have hung in a bit longer. Oh well. We'll be OK.
Heck many stocks have doubled year over year.
 
About 7695 days since retirement. Was a single parent doing field work, the first few years having a live in nanny for the boys was tolerable at best, then they quit listening to her so took an semi office position to be around more, worst thing I ever lived. Decided enough was enough and quit at 45. Was a scary step at that age. Now live apparently below the poverty line with no dept and don't feel I need any more than I have. Do work in the machine shop and cabinet shop when I feel like it and only if the job interests me. The weather forecast today was sunny, so took off on the atv into the hills trout fishing. Good thing I don't rely on fish for survival lol. Cool and wet next couple of days so guess we'll do some catch up on other peoples work in the shop. Living the dream, work when I feel like it and play when I feel like it.
Hope to be totally broke when they plant me, hopefully not for another 20 or so years.
Only advice I can give is don't chase that dollar till it kills you, you only get one chance to live.

Greg
 
Congratulations, you will love it.
If you have no debt retirement is brilliant.
We decided to retire early before we became old and feeble so we could do what we wanted and have never regretted it.
We wanted to travel and so we have, Philippines (x4), Singapore (x2), Malaysia, Japan (x3), China, USA (x2), Canada, France, UK. We were just getting ready for South Korea when covid struck so that went out the window.
I think our traveling 0verseas will be on hold for quite a while so will hit more of Australia and New Zealand once we are immunized but that looks like it will a long time the way our govt is playing around.
With traveling and plenty of hobbies theres no time to sit around and mope.
 
f350ca said:
Only advice I can give is don't chase that dollar till it kills you, you only get one chance to live.
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This is the key, at least for me. I felt some regret when I did retire (last summer), but the freedom from job related worry and stress more than makes up for my adaptation to a "fixed" income. I still have my hand in, and now I take side jobs at MY discretion.

Absolutely the best move of my professional life.
 
Janderso said:
The spending money part is going to have to change. We have a good monthly income planned but that doesn't mean we have to spend it.
Bringing in less money is kind of scary. The unknowns are always a worry.
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I retired July 1, 2019, although I only worked part time for a year before that due to a bout with cancer and the treatment involved. Fortunately that all seems to be working out well, no signs of recurrence. I was 55 1/2 at the time, minimum I could use any of my retirement benefits without tax penalty, and only a small fraction of it at that. 59 1/2 for most of it, another two years. But one thing about retirement, your expenses go way down too. Driving to work, work clothes, etc, it just seems like life post-retirement is a lot less expensive. Did make sure I didn't owe the bank anything, no mortgage, cars paid. The only thing that is costing money is building a new workshop for the metalworking/machining, and buying tools and stuff for the shop. Much of that is actually coming from the last of the equity we had in our work-place home, we moved to a smaller rural house to retire from the booming real-estate market of Atlanta, Ga.

The stock market treated me quite nicely last year, so when I do hit 59.5, I should be in good shape.

Retirement has been great! My wife and I work quite well together (we met working together). I have plenty to do, and have no idea how I got anything done while also working a full time job.
 
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