01-04-2025, 09:17 AM
(01-03-2025, 10:29 AM)ken-do-nim Wrote:(01-03-2025, 06:09 AM)rayray Wrote: I'm kind of in the same boat, being just a little older than you. I'll retire anywhere ffrom 2 to 6 years from now with the actual goal being 59. I self-manage my account but don't really think about what I'll be doing at 59.5 as far as withdrawals, and actual investments. I don't buy and sell a lot, so not sure how much different the accounts will be in 6 years than in 2025. Well, since I'll be turning 54 this Spring i guess I'm 1 to 5 years away from retiring--I always forget time doesn't stop marching.
GLTYA
I've changed my thinking away from retirement to financial independence and improving my quality of life. I've got a great job and I think it would be darn near impossible for me to give it up. But, what will life be like in 7.5 years when I can turn down the 401k saving and turn down the dividend reinvestment, and instead start sending $50-$100k of dividends and $50-$100k from my 401k into my budget every year in addition to my salary?
I'm giving up the work life at 59, maybe sooner but doubt it (unless there's an offer and interest (GATT) rates) that all align together for me to take a buyout. In that case, I'll take the buyout sooner, then get a part time job until I'm about 60 or whenever I feel like hanging it up for good. But it'll be something I really enjoy, maybe at a organic farm/General Store or a Winery or a micro-brewery, maybe a local bike shop!
I think there's a cross-over point that one has enough money that they don't have to ever worry about it. When I get to that point, in all sense and purposes I'm done with the regular 9 to 5 job no matter how much I enjoy it, or don't hate it. After 28 years, I don't hate my job but I'm definitely tired of it, so I'm getting close. As far as that cross-over point? I think it's close, but sometimes life doesn't work out the way one wants it.