Topic: Early Retirement....anyone done it?

[754]

 Scott don't let money always rule your world. Having a better life us worth it. Being satisfied is worth it.
  A change can be as good as a rest .. better to have lower pay and look forward to working there, than just getting up, going through the motions, and being less satisfied.

 That said what my life is really lacking is a workspace, and the need to have my machine tools running and producing bike product. I am trying to fix that.

[Darren Jakal]

Hey Scott, lots of good reading here and we happen to be the same age. My original retirement plan failed in 2016. I became too old to Live Fast and Die Young when I hit 50.

I have to say that in retrospect it hasn’t turned out that bad. I find that I am actually in pretty good shape and that I have a lifetime worth or memories that I value greatly. I work 20 hours a week that I job I like and that pays me well, so now I’m just trying to Live Slower and Die Old. Of course that means I’ll probably continue to be semi-retired until I take the final dirt nap.

You only have one life and only you can give that life meaning, so pursue the things that mean something to you. Don’t stress (that WILL kill you) it'll all work out in the end.

Take it easy, dj

[Scott S]

 OK guys, here it is, restored the thread.

[RAFster122s]

Scott, imagine the number of bikes you could have and flip if you had every morning over coffee to trawl the craigslists and bring a trailer and letgo to scoop up more jewels with sweat equity and some investment would be potential for good returns to keep your freezer and fridge at equitable levels?
Find a painter friend and see if he will teach you how to paint, you might be very good at it. If you have room build yourself a separate garage bike workshop and invest in setting it up to do a bike business and acquire a small paint booth setup with air handler and a safety suit and air backpack or forced air system you you and explosion proof fans to ventilate the booth that are filtered several times to kill dust. Have floor drains that can be turned off in case you have heavy rains  with soil that does not percolate well. Also allows you to keep rodents and snakes from coming in through the drain pipes...it happens. Spraying the booth's floor clean is good and keeps any dust down. If you can afford IR paint dryers then they are golden for helping things cure out quickly with less risk of dust finding its way into your color or clear. A gun with pressure pot design is what the auto paint guy needs if you need more than a full 18-20 oz gravity feed cup to paint a bike you are using took much paint. So, one spray gun for primers and sealers and one or two for the color and clear. Mid range pro guns are going to give you good results, your painting friend, with new or old, may have several good used guns he could part with that would be better than you would buy as a mid priced gun. Ensure you can buy new air caps and needles and other parts for the gun and buy a full rebuild kit or two for each gun and new needles for the media you shoot with it.

You could go through an abbreviated night school or full night school course in auto body and paint and those skills transfer well to motorcycles.

Find a machinist friend and someone who can bend cr moly tubing if you are doing any frame mods such as cafe or brat or flat tracker seats or luxury touring... Haha!

Take a welding class or two in night school at community college to learn to mig and tig weld or find a welder that is good that won't charge you a fortune if you bring him a case or six pack or two to trade for some time under the hood for you along with some money for him...to keep the fridge stocked...
Get a good compressor and huge air tank to allow you to do any paint work if you go that route.  Craig's list and letgo and the like can scored you a nice quincy or Ingersoll & Rand compressor if you do not build your own...

Pursue that job you like but be prepared to leave it if you don't like it after all. Quality of life is important and working somewhere where most everyone is breast to work with is rare. That can be worth staying in a job but not one where you are killing yourself slowly by working too much.  I have pulled the plug on a job because it was a toxic and hostile work place for me a few times in my life. I do not regret it.

I stayed in a toxic job once and it drove me into depression, I was irritable and easily angered and I had sleep issues as well as health issues due to the stress. Migraines that were triggered by stress in some cases, or they were more easily triggered. The reason I stayed was the friends I had made outside work and a few inside work. And the church I went to was excellent and I wanted to stay in the area. I moved for jobs many times in my career. Longest at one job was 17.4 years...those days are rare when you get and keep a job with programs I worked on in the software industry within one company for 8 years and moved fro Tucson to Dayton Ohio and then back to AZ to Sierra Vista. Dayton the program unexpectedly pulled out of Iraq in the withdrawal of US troops and we were going to have a significant lull with lots of uncertainty, it was toxic and hostile workplace and I pulled the ripcord at 5 months and was gone in 6 and moved myself across the country more than once...

Find something you love to do and let the job be something you enjoy going to work to do...

You might find as the new company startup or opportunity is what you enjoy. Or, it might not develop a healthy workplace if efforts to make it so are not taken and promoted by mgmt.

[Scott S]

 I have too much stuff. Too much junk. Too big of a house, too many square feet.
 Lately,  I've been thinking of how I can do this and not even be dependent on benefits from her job.

 Currently exploring getting rid of about 75% of everything....closets, drawers, cabinets,  attic, garage, toys, etc., and rolling the equity in my home into a small bungalow.

 I'm about 11 or 12 years away from paying off my house. But it would still be too much house and upkeep.  If I downsize,  I'd be looking at a brand new mortgage,  but some people finance more on pick up trucks.  Seriously.
 I think I can pay a new, TINY mortgage and buy health insurance for less than it costs me to live here now.

 I want to be free, independent,  less stressed.

[simon#42]

i downsized from living in a very large 9 bedroom house to a 4 bed bungalow 5 years ago  and i would recommend it , those big houses own you , you dont own them . the money is much better spent living .

[MRieck]

I have too much stuff. Too much junk. Too big of a house, too many square feet.
 Lately,  I've been thinking of how I can do this and not even be dependent on benefits from her job.

 Currently exploring getting rid of about 75% of everything....closets, drawers, cabinets,  attic, garage, toys, etc., and rolling the equity in my home into a small bungalow.

 I'm about 11 or 12 years away from paying off my house. But it would still be too much house and upkeep.  If I downsize,  I'd be looking at a brand new mortgage,  but some people finance more on pick up trucks.  Seriously.
 I think I can pay a new, TINY mortgage and buy health insurance for less than it costs me to live here now.

 I want to be free, independent,  less stressed.

Boy do I hear you! I'm retiring from my "regular" job 6/2021. I'll be 63. Unfortunately my wife was forced into retirement after 33 years with a large insurance company (her only job right out of college) and she is not old enough to collect maximum benefits on her pension. Oh.....and it's hard to find a job in your mid 50's too.
 Anyway....I am selling the house and getting a 4 bedroom ranch in New Hampshire ASAP after I retire. Of course there will be a shop and 3 car garage too....can't store the vette I am going to buy outside!

[MRieck]

i downsized from living in a very large 9 bedroom house to a 4 bed bungalow 5 years ago  and i would recommend it , those big houses own you , you dont own them . the money is much better spent living .

I couldn't agree with you more Simon. 2 people in a 4,500 sq ft is s bit foolish IMO....unless you really can't stand each other.

[Scott S]

 Sheesh.... I'm looking at 1200 sq/ft or less! That's about all we live in now. The rest is just heating/cooling unused areas and picking up dust bunnies.

[Jerry Rxman Griffin aka MuthaF'er]

Geesh Mike, and to think yer fake Bastin accent was bad enuf….. 

See you next month bro with my KY CO VI accent and GA shine.

[Scott S]

 Some follow up:

 January 1, my company goes under new ownership.  Everyone is still tight lipped about a lot of the details.  I actually think it's a good thing for the long run.
 Sometime in the 3rd quarter of 2020 (projected), the conversion will start. I was hoping to avoid all that, but it looks like I'll catch at least some of it.

 I'm awaiting further details on 401k plans, pay rate, future job duties, etc. I hope to still be able to access my 401K without penalty at age 55.

 I also started  "The Purge". I've hauled two FULL truckloads of old motorcycle parts to the dump. One FULL truckload of clothes and household goods to Goodwill.  Another load to the dump.
 I still have more to do. Will be going through the attics, kitchen cabinets, etc., in the coming weeks.

 The slightly overwhelming part is the garage and the projects.  I still have a LOT of stuff that I won't be able to take with me if I downsize.  Including a couple of basket case projects that I've lost interest in and would lose money on if I let them go at this point.  I could MAKE money if I finish them, but the drive isn't there right now. Anyone near Charlotte,  NC want to come take over!?

 And I've been looking at houses. The market is pretty hot right now. Smaller cottages,  bungalows and "mill hill" homes are starting to be bought up, remodeled and sold for double or triple. Areas that were run down or transitional are started to come back up.
 I have a couple of scenarios in my head as far as housing goes. One of them puts me in a tiny place in a neighborhood that is being revitalized,  but I would be debt free. Or maybe a mortgage that is about what a new F-150 costs.

 I am being made acutely aware of how nice my house and neighborhood is now, but it's too much for just me and the dog. And if I stay in that house on one income, then i have to stay at my current job. I want out. Bad. I'm sick of swinging shifts and overtime.

 So.... something is gonna change the in the next 20-30 months, I just don't know what, exactly.  Not yet, anyway.

[Jerry Rxman Griffin aka MuthaF'er]

Scott, you still have plenty of time to formulate your plan. Just make informed decisions and you will be fine.

And as a follow up to my reply.... about 3 weeks ago I was awakened at 6am by a phone call you never want to take. My best friend of 55 years had an accident and died of a heart attack at the hospital. That made my decision easy. That afternoon I wrote and sent my full retirement resignation email. We were always immortal and he proved us wrong. My time is limited and I do not want to die working. I'm done after 11 scheduled days in December. Life is too short for BS.

Good luck with your decision.

[ken65]

Sorry to hear about your mate.

[Jerry Rxman Griffin aka MuthaF'er]

Thank you

[Can550]

Born 1971 retired Dec 2014
Bored to death since last one year. Would like to get back to work


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[flatlander]

can550 i make you an offer: you go do my job. you can even keep your retirement money, and i only keep the income from the job that i graciously lend you. so it's a total win for you. deal? 

scott: that change of ownership and possible future restructuring may create the opportunity you're looking for!

[Scott S]

 I would still be working weekends, swing shifts, holidays and overtime.
 My job duties will most likely change and, once again, I'll take a "set back". I'm done with this lifestyle.  30+ years is enough.

 Can550, I wish I had your problem! I would be OK with part time work if I were in your shoes. Mostly for extra spending money and to combat boredom.

[flatlander]

they might be looking for "volunteers" to let go (with a payoff?) if their reshuffling makes them believe that they can make do with fewer staff.

[Scott S]

 I have my fingers crossed for an early out package. But we're hearing that they have big plans for the site in the coming years and want to retain the experienced help.
 We'll see.

[simon#42]

Born 1971 retired Dec 2014
Bored to death since last one year. Would like to get back to work


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i had a couple of months off with a broken hip earlier this year and started going stair crazy . i am not ready for retirement just yet !

[Can550]

can550 i make you an offer: you go do my job. you can even keep your retirement money, and i only keep the income from the job that i graciously lend you. so it's a total win for you. deal? 

scott: that change of ownership and possible future restructuring may create the opportunity you're looking for!

I would love to


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[Kevin D]

I had a couple of months off with a broken hip earlier this year and started going stair crazy

I had the opposite reaction. A couple years back, I was off a month to recover from surgery. I dreaded the day I had to return to work.

Scott, I have never worked shifts, but too much OT, weekends, holidays, projects, emergencies. Enough is enough.

[Scott S]

 In the last six weeks of the year, I will work 21 days of overtime,  on top of my normal shift schedule.  One 14 day stretch that I'm in the middle of right now, another 15 day stretch at Christmas/New Years. I will miss every holiday and football game, every gathering, etc.
 I'm talking 12 hour shifts, too. ALL I do is work.

 This happens a few times a year, plus the random one or two days of OT sprinkled in. Sick. Of. It.

[Kevin D]

Sick. Of. It.

+1

My best job was the first one that I worked for wages... at the Honda shop. I assembled and prepped bikes, was the parts man/counterman, greeter, phone. I rode every bike that came in or went out, and met every person. $1 per hr, 1968.

As bad as it might be, one of my co-workers put my griping in perspective: "this ain't so bad Kev, in Nam, theyre always shooting at you out of the trees"

[dave500]

I had shoulder surgery and had bout 9 months off paid as it was a work injury,i was stir crazy after the pain wore off,drank beer every day,ya gotta have a purpose,ya gotta have some load or reason,ya gotta have a goal,a holiday is one thing but to holiday every day wont work for anyone with an active mind,you gotta produce,ya gotta construct,ya gotta have a decent hobby,and ya gotta have money somehow?