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

[NRA4LIFE]

I love my current job. Hunting, fishing, paying people to do the crap that I hate. It's turning out great. Almost 10 years now.

 

[Yaremkiv]

Personally, I hope I have an enjoyable life. I am not waiting until retirement to do the things I enjoy.

I'm with you there 100%

 

[TxxAgg]

My kids will be both be out of college when I’m 57. I’d like to pay for grad school also if they choose to go. Then I’m pulling the plug at 59.

I’ve been planning for this since I started working. Barring no extraordinary circumstances it’ll be easily doable. Maybe I can even quit early to mid 50’s.

 

[CorbLand]

My kids will be both be out of college when I’m 57. I’d like to pay for grad school also if they choose to go. Then I’m pulling the plug at 59.

I’ve been planning for this since I started working. Barring no extraordinary circumstances it will be very doable.

The first time I read this my mind went to “pulling the plug” as in what one does when you take someone off life support. Then read the part about planning it since you started working and I was like “I mean 59 is an odd age to call it quits but to each there own.” Then I actually used my brain and thought it through.

 

[Fowl Play]

I get it... my job was extremely demanding, stressful, incredibly long hours... but man I loved it. And much of my identity was wrapped up in it. It took an ambulance ride, a near heart attack (at much too early an age), and a couple day stay in the hospital to realize what it was actually doing to me. Was a rather brutal wake-up call.

Now... the same job put me in a position where I can be financially independent now and much more flexible with my time (not sure I fully embrace the retire early part). So... was it worth it.... I'd say probably so, but if I had actually died.... definitely not. That's a pretty fine line in the sand....

I enjoy spending way more time with my wife and kids. If I could go back and do it again, I still would have worked my ass off early on, but maybe had the presence of mind to jump off the extremely stressful train a little earlier. Hindsight is 20/20 though.

 

[Aussie Dan]

I get it... my job was extremely demanding, stressful, incredibly long hours... but man I loved it. And much of my identity was wrapped up in it. It took an ambulance ride, a near heart attack (at much too early an age), and a couple day stay in the hospital to realize what it was actually doing to me. Was a rather brutal wake-up call.

Now... the same job put me in a position where I can be financially independent now and much more flexible with my time (not sure I fully embrace the retire early part). So... was it worth it.... I'd say probably so, but if I had actually died.... definitely not. That's a pretty fine line in the sand....

I enjoy spending way more time with my wife and kids. If I could go back and do it again, I still would have worked my ass off early on, but maybe had the presence of mind to jump off the extremely stressful train a little earlier. Hindsight is 20/20 though.

Near death experiences certainly have a way of focussing our time and efforts into the things that are most important to us.
Glad youre still kicking and enjoying life mate.

 

[BFR]

Retired in Dec. 2007 at 59 but burned up all my accrued sick time and vacation so actually stopped working in May. Retired because I discovered working was costing me about 225/month over not, no brainer for me to bail. Never had time to be bored, been busier as a retiree than I ever was at work. Too much to do and places to see to be a recliner spud. Nothing to do but enjoy life, grandkids and no time clock to punch. Aside from getting old, life is good.

 

[92xj]

I’m 42 had open heart surgery at 36 to replace an insanely damaged aorta valve and replace the ascending aorta aneurysm that was 0.3cm from bursting that they found, and ended the day with an unplanned pacemaker. I think about retirement daily. I have a morning conversation with ai, daily inputting my current finances and feel my wife and I are on track to retire at 56. I’m so curious to know what dollar amounts people feel they need to retire at a certain age, but know that’s personal info that most don’t share. I currently max out my 401k and finally just got a Roth 401k option to contribute to, which it all got switched there. My wife is a teacher so she will get a pension. I’m shooting for what I feel is a good chunk of money a month to be able to go on amazing hunts and family trips each year. That should be around the 4.5% mark of my 401k and hoping the market grows 7-9% during my retirement to leave my kids a fat sum to blow on fun stuff, as long as they turn out to be good responsible individuals. Our current home will be paid off in 6.5 years. I just want to live long enough to enjoy it and know with my history I’m walking a knife edge to get there.

 

[dirtshooter]

The first time I read this my mind went to “pulling the plug” as in what one does when you take someone off life support. Then read the part about planning it since you started working and I was like “I mean 59 is an odd age to call it quits but to each there own.” Then I actually used my brain and thought it through.

In canada they'll pull your plug when you get old lol

 

[Rich M]

You got it buddy; people who love their jobs do so because they're control freaks that neglect their families and have no hobbys or interests. Just go ahead and roll with that.

Yes some folks truly enjoy their jobs.

You gotta do you, and you seem to put your emphasis on working. You love it and that’s great. It provides what you need to click.

I was raised/taught to prioritize family more than work yet must work to provide for them. Its a catch-22.

The truly successful guys I know work every day. They have $, charm, and a love for what they do I guess. One guy is worth north of $50 million. You’d never know it. They say they love their jobs and that’s pretty much all they have cause it is what they do all the time. So it must be true.

 

[MallardSX2]

Why do folks want to keep working when they could be doing other stuff. Are they trying to avoid spending time with their wives and families or just have no interests outside of work? Are they Type A's who need to control things? What is it?

I agree.

Its ALMOST always (not always) a control or a boredom thing. Both of which I find to be fairly intolerable.

If ya need to go to be a work to be in a position of power, then you likely are a serious loser at home and with your family.

If you're so bored that you need to go to work to get enjoyment, then you never lived life and you probably never will.

A guy can work until he dies if he want. Its his choice. lol

 

[Backyard]

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

A lot of states have insurance programs that fall into the ACA. They usually have huge breaks based on yearly gross income. If you’re retired, your gross income will be very low, qualifying you for those. I will be taking advantage of such in MN next year. Most insurance brokers can walk you through it.


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[go_deep]

A lot of states have insurance programs that fall into the ACA. They usually have huge breaks based on yearly gross income. If you’re retired, your gross income will be very low, qualifying you for those. I will be taking advantage of such in MN next year. Most insurance brokers can walk you through it.


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Is this subsidized by the state tax payers to make it cheaper?

 

[Backyard]

Is this subsidized by the state tax payers to make it cheaper?

No idea. It’s all a part of the Affordable Care Act and how each state handles it.
At this point I don’t really care. I can get my insurance for 1/3 the price of COBRA, and I’m good with that.


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[go_deep]

No idea. It’s all a part of the Affordable Care Act and how each state handles it.
At this point I don’t really care. I can get my insurance for 1/3 the price of COBRA, and I’m good with that.


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I guess my concern would be if it is, then I'm depended on those subsidies continuing in the future. What if they stop that completely and now you actually have to pay for all of your health insurance? Could you afford it when your neighbors stop pitching in?

I want a free and clear retirement, not dependant on subsidies from tax payers, or even SS. If I get some SS that I paid in when the time comes, great, but I'm not banking on anyone for my retirement, but my wife and I.

 

[Backyard]

I guess my concern would be if it is, then I'm depended on those subsidies continuing in the future. What if they stop that completely and now you actually have to pay for all of your health insurance? Could you afford it when your neighbors stop pitching in?

I want a free and clear retirement, not dependant on subsidies from tax payers, or even SS. If I get some SS that I paid in when the time comes, great, but I'm not banking on anyone for my retirement, but my wife and I.

Then I would suggest a rich uncle, parent or start out with enough money in the first place.
Or a country that has affordable healthcare.
Good luck.


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[go_deep]

Then I would suggest a rich uncle, parent or start out with enough money in the first place.
Or a country that has affordable healthcare.
Good luck.


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Yeah no rich relatives, started out broke, but going to retire at 55, off my own money.

There's been suggestions in previous posts of affordable health care.

Good luck to you too.

 

[Fowl Play]

I’m so curious to know what dollar amounts people feel they need to retire at a certain age, but know that’s personal info that most don’t share. I currently max out my 401k and finally just got a Roth 401k option to contribute to, which it all got switched there. My wife is a teacher so she will get a pension. I’m shooting for what I feel is a good chunk of money a month to be able to go on amazing hunts and family trips each year. That should be around the 4.5% mark of my 401k and hoping the market grows 7-9% during my retirement to leave my kids a fat sum to blow on fun stuff, as long as they turn out to be good responsible individuals. Our current home will be paid off in 6.5 years. I just want to live long enough to enjoy it and know with my history I’m walking a knife edge to get there.

There's really no set dollar amount, it's completely tied to your yearly expenses. If you can get your yearly expenses low by sacrificing some luxuries in life, you can definitely meaningfully change your retirement age. Especially if you invest the money you save on those luxuries.

The Trinity Study gets referenced allot which basically showed that a 50/50 highly diversified stocks to bond portfolio had a 4% safe withdrawal rate to last 30 years. This was with a very high degree of success, even through some black swan events. There's also websites like FireCalc which have even more in depth calculators you can use for free. (the exact details of the Trinity Study are from memory, so maybe double check the portfolio balances)

Overall, if you want to retire before the typical retirement age, you actually need to be careful how much you put in 401K's vs just a generic taxable brokerage account. Most people don't realize that there is actually a 0% tax bracket for long term capital gains, which for 2026 married filing jointly, is almost $100K you can pull with absolutely no federal taxes. This bucket, just normally get's filled with your salary, so you never get to utilize it. But for a retirement scenario it is very powerful. Utilizing that strategy, plus going into the situation with low or no debt can be very powerful. Living in a state with low or no state income tax is also very powerful.

You can stack "what if" scenarios forever and convince yourself to never retire. I think as long as you go into the situation smartly, the theoretical math checks out, and you have at least made an effort to have a catastrophic health care plan in place (whether insurance or cost sharing programs) -- that's the best you can do. Just pull the trigger.

The largest unknown is probably catastrophic health stuff. People also tend to overthink this... if you get ahead of it, hospitals will work with you and give payment plans. They might wind up taking your house and all your assets when you die, but as an absolutely worst case situation -- that's not the end of the world IMO. At least you got to enjoy life while you could.

I'm raising my kids to have a strong work ethic and high confidence in themselves. I'll help them out as much as possible along the way, but also am ensuring they realize that there is no guarantee of an inheritance, but I am at least planning and preparing to not be a financial burden on them as they are trying to start out on their own.

 

[cnelk]

6 years retired from a State career at 56.
Pension for life.
I get a stipend to help with State pension healthcare.
Started getting SS a few months ago at 62.

I do some handyman/carpentey work to fund hunts/ or my Wyo property improvements. My fee is no less than $500/day if you want me to show up. Sometimes more.

Small mortgage on my house at 2.25%
I invest 17% of my income a month (excluding the handyman/carpentry work)

Right now I’m enjoying my 4th week at my Wyoming place

Life is short. Go live it.

 

[307]

I want a free and clear retirement, not dependant on subsidies from tax payers, or even SS. If I get some SS that I paid in when the time comes, great, but I'm not banking on anyone for my retirement, but my wife and I.

Make sure you reject Medicare when the time comes. Wouldn't want those entitlements creeping in.