Early Retirement

[Kbg]

Nobody quits a job they like.

I liked my job.  The people were great, the schedules were reasonable, and the work was interesting.  I "retired" (for lack of a better word) because I was ready to enjoy my own time rather than continuing to trade it for money I no longer needed.  There's so much more to life than finding a job you like.  So far, so good!

+1

... Mountaineer

+1

...3 weeks to a new life

[Kbg]

Wow!  Sounds great.  Any big plans?

Good question...how about initial reactions for now. :-)

1. Four generation cruise (almost didn't happen as my father had a quad bypass three weeks ago, but he is progressing well and can go)
2. Landscapping a new home where I'm relocating to

Too young to do nothing for too long. I'm looking at trying to open a financial planning business that is focused on lower mid to middle income folks. Looking to do it more as a service, but profitable enough to provide a little augmentation of my personal income. I feel there is a need for this and can offer help. The challenge is, without being a charity, is there a viable business model that is mutually beneficial? I've always been a do it myselfer and gag at the thought of paying for stuff like this. But I also have come to realize most people don't particularly enjoy spending time hanging out on financial boards and really have no clue about sound saving and investing approaches as well as all the other stuff that comes with being at least proficient with your personal finances in all their complexity. Not to mention hardly anyone gives personalized assistance due to not much money being in this market segment. True charity wise I worked in the grocery business for several years as a kid and through college and actually liked it quite a bit.  I plan on getting into volunteering somewhere in the food bank arena. I don't really care how poor someone is or if maybe their approach to life would suggest they brought it on themselves, but people particularly in the U.S. shouldn't have to go hungry. Obviously there may be a host of other issues where people need help to become more useful to themselves and society, but I'd like to help out with at least getting Maslow's  bottom rung checked.

And then there are the basics...more time with family and building deeper relationships with family, friends, church and community.

[Mountaineer]

Wow!  Sounds great.  Any big plans?

Good question...how about initial reactions for now. :-)

1. Four generation cruise (almost didn't happen as my father had a quad bypass three weeks ago, but he is progressing well and can go)
2. Landscapping a new home where I'm relocating to

Too young to do nothing for too long. I'm looking at trying to open a financial planning business that is focused on lower mid to middle income folks. Looking to do it more as a service, but profitable enough to provide a little augmentation of my personal income. I feel there is a need for this and can offer help. The challenge is, without being a charity, is there a viable business model that is mutually beneficial? I've always been a do it myselfer and gag at the thought of paying for stuff like this. But I also have come to realize most people don't particularly enjoy spending time hanging out on financial boards and really have no clue about sound saving and investing approaches as well as all the other stuff that comes with being at least proficient with your personal finances in all their complexity. Not to mention hardly anyone gives personalized assistance due to not much money being in this market segment. True charity wise I worked in the grocery business for several years as a kid and through college and actually liked it quite a bit.  I plan on getting into volunteering somewhere in the food bank arena. I don't really care how poor someone is or if maybe their approach to life would suggest they brought it on themselves, but people particularly in the U.S. shouldn't have to go hungry. Obviously there may be a host of other issues where people need help to become more useful to themselves and society, but I'd like to help out with at least getting Maslow's  bottom rung checked.

And then there are the basics...more time with family and building deeper relationships with family, friends, church and community.

Nice!  I wish you the best.  You only need to know the first step or two, the rest will take care of themselves, a step or two at a time.  It sounds to me like you have a healthy set of priorities.  Keep us posted, please, on how it goes.  I'm still enjoying "retirement" after 13 1/2 years and there have been several things that are wonderful that I would never have anticipated at the beginning, in spite of all my planning before I pulled the trigger.  Stay flexible. 

... Mountaineer

[MachineGhost]

Lately, I've been considering it also (RIA).  But I think to be competitive you need to be either fee only which doesn't have residual income built in (i.e. too much of a continuous marketing job) or your fees need to be as low as the roboadvisors, which would be <=.25% a year.  I think .25% a year max and using low-cost Vanguard funds/ETF's will clear your conscience.  Charging <=.25% for people that are too lazy to become financially intelligent seems like a good compromise without screwing the pooch.

All of the RIA's I've looked at that do charge such relatively low fees around that have huge capital minimums, such as $1 million, and minimum quarterly fees, so maybe the business model on small money just isn't viable unless there's a lot of generic automation as the roboadvisors do it.

There's also the issue of mixing blood and money.  It never ends well.  People assume you're acting in their crony interests and they can't help the resentment that comes up when things don't go according to their expectations.  I suggest not doing it...  ever.

[MachineGhost]

It sounds like what is really needed are non-profit Financial Empowerment Institutes to open up around the country and serve those that really need it, i.e. lower/working class.  Far too much charity money seems to be wasted on ultimately trivial crap like the arts or even charter schools.

[WiseOne]

I'd love to see one of you guys hang out shingles next to a payday loan or pawnshop.  Those are the people who need that kind of advice the most - however, would you have the patience to coax along someone with average intelligence or lower?  Unfortunately that's where most people are at (by definition).

[Kbg]

Somehow, there still are many people out there paying 1.0% and even more for pretty basic "management" of their portfolios, despite the presence of roboadvisors that are much cheaper and probably dispense superior guidance.

Another angle I've looked at is going after small businesses as well and lowering the costs to their employees as well as open up the investment options they have. I have some relatives who work for small companies and their options just drive me insane. Very high costs and actively managed funds. Drives me nuts.

[MachineGhost]

That sounds like an excellent Web 2.0 opportunity that an incubator or portal is just waiting to fund.  Better jump on it before someone else does!

[WiseOne]

Monday morning, 9 am:

Kbg, we are all insanely jealous.  Congratulations.  What are you doing this fine morning?

[Kbg]

Monday morning, 9 am:

Kbg, we are all insanely jealous.  Congratulations.  What are you doing this fine morning?

Still on the job...but when Wednesday is over I can count the number of days left and they will all have a single digit in common. Now if you ask me THAT following Monday...I won't answer you as I'll be somewhere in the Gulf of Mexico heading to the Caribbean.   

...and the shades won't be because I'm cool, but because I'll need em!

Post note...My father was an amazing man. He always encouraged me to make a career of something I enjoyed, because he didn't enjoy his. He was a blue collar guy who went to work at something he didn't really care for for 30+ years because as a husband and father he felt it was his primary job to provide for his family and he sacrificed for it. My parents always said to me...if you don't go to college odds are you will be working at that meat packing plant a couple of towns over (they didn't but the point was well made). In any event, I was the first college grad in my family and was super fortunate to have landed in something that I pretty much liked getting up for every day. Let me give due and thanks to the parents who built the foundation for me...no them, no lucky me.

[Alanw]

Where in the Caribbean?

[Kbg]

Jamica, Grand Cayman and Cozumel (Royal Caribbean)

[Alanw]

Royal Resorts are great. We have a timeshare at Sea Aquarium Resort (a Royal Resort) in Curacao. I have friends that stay in one of the Royal's in Cancun/Cozumel and they speak very highly of them.  IMO, you can't beat the Caribbean water and beaches. Have a great time.

[Tyler]

In any event, I was the first college grad in my family and was super fortunate to have landed in something that I pretty much liked getting up for every day. Let me give due and thanks to the parents who built the foundation for me...no them, no lucky me.

Congrats, Kbg.  Your parents helped set you in the right direction, but you definitely deserve credit for your accomplishments.  Enjoy the beach!  I recommend wearing sandals your last week at the office to break them in. 

[dragoncar]

Where in the Caribbean?

Let us know if you need anyone to check on your gold while you're out of town

[barrett]

Yeah, I liked the shout out to your parents as well. Ditto for my mom and dad. I couldn't in good conscience be lazy as an adult having been brought up by hard-working parents. If our daughter is around me at home I make a big show of looking really productive!

[Kbg]

Thus far the retirement is great. However, I know eventually I'm going to need to get some more structure in my days than I have now! The biggest difference this far, the concept of time has changed. What day is it? ?

[Tyler]

Thus far the retirement is great. However, I know eventually I'm going to need to get some more structure in my days than I have now! The biggest difference this far, the concept of time has changed. What day is it? ?

LOL.  I have the same problem with the day.  And I think I've used my alarm clock once in the last six months.  Once you remove external constraints, perception of time really does change. 

Don't stress about structure -- that's your old habits talking.  Relax and take it day by day.  Eventually new routines will take over organically and you'll be fine. 

[Stewardship]

Oh man.  I'll be there in 20 years.  I hope 

[gizmo_rat]

Thus far the retirement is great. However, I know eventually I'm going to need to get some more structure in my days than I have now! The biggest difference this far, the concept of time has changed. What day is it? ?

LOL.  I have the same problem with the day.  And I think I've used my alarm clock once in the last six months.  Once you remove external constraints, perception of time really does change. 

Borrow some kids, you have to scrape them out of bed, send them off to school (with lunches), cook dinner and so on. My days are too damn structured for my liking, I don't think I'm going to get the freewheeling ER I wanted for a little while yet  

[Gosso]

ERE guilt!  Does anyone else suffer from this?  Do you need to become a bit of an asshole to counteract the "normal people"?

[MachineGhost]

ERE guilt!  Does anyone else suffer from this?  Do you need to become a bit of an asshole to counteract the "normal people"?

That's kinda hard when you live in a trailer like Larry-whats-his-name the founder of ERE.   At least PS didn't stoop that low.

P.S.  I've named the black lizard that lives on my patio Larry.  He looks like an alligator!

[Reub]

MG, what supplements do you have the lizard on?

[MachineGhost]

MG, what supplements do you have the lizard on?

The not-stepping-on-him-to-sploosh supplement!

[Tyler]

ERE guilt!  Does anyone else suffer from this?  Do you need to become a bit of an asshole to counteract the "normal people"?

Nah.  Personally, I find that living more like my grandparents did makes me feel a lot more normal and less like an asshole than trying to fit too much into the consumerist culture today.