Wondering if there is anyone on here that has retired early (FIRE Movement)

[Sully_44]

The crux of this plan is to fill the bag before you blow up the body (back) or you can lose the bag trying to fix the body…

For sure! Definitely don’t plan on being the guy laying the concrete forever. Rather running a system based business to pay for an adventure filled life. Luckily I’ve gotten to the point I’ve only touched a trowel a handful of times in the last year.

 

[OregonJK8]

I retired at age 59.5 No regrets!

 

[Aussie Dan]

The crux of this plan is to fill the bag before you blow up the body (back) or you can lose the bag trying to fix the body…

Its not uncommon to sacrifice one's body for money and then sacrifice said money to save/fix ones body

 

[bowhuntercoop]

That’s not retiring.

Well I spent 20 years in the Corps and retired from that. So pension plus my Va benifits, passive income from rentals I bought at different duty stations, I’m doing alright lol.

The kids are the added bonus and the lords greatest blessing on this earth.

Also mind boggling to me how many parents pawn thier kids off to daycares and schools instead of raising them. That’s another topic though.

 

[roymunson]

To be fair, none of us are guaranteed tomorrow or old age. It's sad. Its unfair. But it's the truth.

There's a fine balance between living like you're dying and being irresponsible. I have things I want to do, but at the end of the day, honestly, no one is gonna care what my biggest buck scored or how many walleye I caught. My influence will be passed down to those I invested in. Work can be that. Kids can be that. Mentoring can be that.

I'd rather die a man who invested in people and left a mark than someone who made a bunch of money but was unavailable and selfish.

Find that middle of the road and let me know how you stay there. I'd like to know.

 

[rayporter]

this has been touched upon by several posters----


we were eating a meal before packing into elk camp the next day when a couple gents at the next table struck up a conversation.

we were about 50 years old and they were just retiring [at 65] and on their first elk hunt.

later our conversation centered around how little time they had to enjoy their retirement and how few mountain hunts they likely had left.

 

[ReaptheHeat]

Sheep hunts are too expensive to retire early

 

[Trogon]

We are on track to retire at 55. I have no interest in working another 10yrs, or more, to afford sheep hunts or any other luxury items. Time is everything. Id love to find something that paid and didnt feel like work, but havent come across anything like that that will get me to my goal.

 

[Maverick1]

I retired at 54 in February……. I was able to access my 401k without penalty because I retired from my current employer.

I thought it was called the rule of 55, not the rule of 54?

Congrats on your retirement!

 

[Yaremkiv]

I've come to the conclusion that people who don't do well in retirement never developed enough interest in life outside of their jobs.

Or actually enjoyed what they did for a living. Which, judging from this thread, is EXTREMELY rare.

 

[307]

Its not uncommon to sacrifice one's body for money and then sacrifice said money to save/fix ones body

Not uncommon but most likely unwise.

 

[go_deep]

Let me know when someone figures out the health insurance thing.
I can afford to retire early at 55 for everything, but health insurance.

 

[jorswift]

I'm trying to be on pace to retire at 55 for "rule of 55" to access my 401k. Im 42 this month. I can defer my "retirement" until I am 57 to access full benefits. So I have time to figure some things out, stash more cash, possibly start a cash flow, etc. But to all that retired early, how did you bridge the gap for healthcare? That seems to be my biggest concern/question for now. If I go at 55, I have to find healthcare coverage for 2 years until my benefits would kick in.

 

[Bobbyboe]

Let me know when someone figures out the health insurance thing.
I can afford to retire early at 55 for everything, but health insurance.

Private brokerage account, in addition to your retirement accounts. The idea is to draw from your brokerage and keep your “income” low enough for cheap insurance. You need enough money in that brokerage account to bridge until youre eligible for medicare.

 

[ReaptheHeat]

Let me know when someone figures out the health insurance thing.
I can afford to retire early at 55 for everything, but health insurance.

VA health insurance for some

 

[MarkOrtiz]

I'm turning 41 next week with a plan right now for 55. After that it will hopefully be seasonal work, campground host, work for national parks, taxidermy, side jobs etc. As long as I can figure out the healthcare thing. Never heard of the FIRE deal, but looking into it now and it sounds interesting.

My wife and I just met with a financial advisor and he had some interesting plans. We just pulled an old 401k from a previous employer and bought a Fixed Indexed Annuity plan for some guaranteed income and invested some other money in different places. We both upped our 401k amounts at work and made a plan to pay off the house early (our only debt). I guess we will see how much is needed when we get there.