Early retirement strategies

[goinfraftw]

So, I also learned, today, that most people who retire call themselves consultants.

I'm gonna go ahead and tell people I've been an investment consultant for the past 8-9 years since I got invested into TSLA.

 

[ZeApelido]

I need to start my own LLC soon.

 

[ZeApelido]

Some links:

Secret Fears of the Super-Rich
10 Brutal Lessons You Need to Learn Before Getting Rich

8. Appreciate experiences over items.
9. Be frugal.
10. Manage your ego.

This must have been written Before Cybertruck.

 

[winfield100]

This must have been written Before Cybertruck.

@ZeApelido
the cybertruck _IS_ frugal
It is both an EV that can run on sunshine
It is also a _mobile_ powerwall (mine will be ~5.5 powerwalls)
what is the price diff between a CT and 5 powerwalls? (1/2 a powerpack)

 

[goinfraftw]

I am a consultant and retired, the people I' working fro just didn't realise it yet...

Is that an add on to "S3xy old dude" or just a part of the consultancy role(s)?

 

[adiggs]

I don't have a roll option, I'd need to rebuy and then sell, and even If I wanted (not sure at all), I just don't have enough. $146k cash in my account, those calls currently trading at (looks), $245k, OK, I could do it in batches, I guess...

The lack of a roll ticket / transaction is a BIG limitation.

If you had the roll transaction available, then the proceeds from the newly open short position pays for the money needed to close the old short position (of course, we do this at a new position that also yields a net credit). Otherwise yeah - you need a LOT of capital / cash sitting around to fund closing one batch of calls and then open a new batch of calls.


Even if not needed for this current position, it might be worth a conversation with your broker about how to gain access to the roll transaction / ticket (heck - and other multi-leg strategies). I'm finding the choice of making a roll to be a BIG backup to selling options. Even if you want assignment on this particular trade.

 

[Featsbeyond50]

Hey, quick question. Is anyone else happier at work now that retirement isn't as tantalizingly close?

 

[SO16]

Hey, quick question. Is anyone else happier at work now that retirement isn't as tantalizingly close?

Haha. Be patient.

 

[ken830]

Hey, quick question. Is anyone else happier at work now that retirement isn't as tantalizingly close?

LOL... Not much happier... but more tolerant idiots and the idiotic things I have to deal with...

 

[dakh]

Hey, quick question. Is anyone else happier at work now that retirement isn't as tantalizingly close?

My last day advancing Azure machine learning is this Friday. I knew for the last couple months, yes it was better and I understood some things about my relationship with the company culture and about myself a lot better because of a different perspective retirement has given me.

But it also is quite a trip to let it go. I like what I do, this work would be in my top 5 places to work at if I had my pick. What I do for work is a large part of my identity and now this part of me is going to die. The most I was not making software for money in the last 22 years was 3 months, the rest was just non-stop work. Huge change, feels like jumping off a cliff and hoping the abyss is bottomless

My new answer for "what do you do for a living" is going to be "breathe"

 

[MP3Mike]

For those that are looking to use a line of credit as part of their plan E*TRADE has a promotion of 0.5% discount off the rate spread if you open a line of credit with them before May 14th. E*TRADE Line of Credit

If you already have a line of credit with them you can likely negotiate the 0.5% reduction.

 

[S4WRXTTCS]

My last day advancing Azure machine learning is this Friday. I knew for the last couple months, yes it was better and I understood some things about my relationship with the company culture and about myself a lot better because of a different perspective retirement has given me.

But it also is quite a trip to let it go. I like what I do, this work would be in my top 5 places to work at if I had my pick. What I do for work is a large part of my identity and now this part of me is going to die. The most I was not making software for money in the last 22 years was 3 months, the rest was just non-stop work. Huge change, feels like jumping off a cliff and hoping the abyss is bottomless

My new answer for "what do you do for a living" is going to be "breathe"

If you get bored you can always lend a hand to help me with some AI stuff on a Robotics Rover project built around a Jetson Xavier NX.

 

[MABMAB]

Be anonymous

 

[Mengy]

On topic for this thread, I gave my two weeks notice this morning. May 7th will (God willing) be the last day I ever need to work for anyone other than myself.

I can't stop giggling today!

 

[dmvevguy]

On topic for this thread, I gave my two weeks notice this morning. May 7th will (God willing) be the last day I ever need to work for anyone other than myself.

I can't stop giggling today!

Wow, congratulations!!!!!

 

[goinfraftw]

Some stuff that was super interesting to read and play with:

The Sustainability of (Global) Withdrawal Strategies

The most important financial issue retirees have to deal with is whether their strategy will be able to sustain all the withdrawals they expect to make in retir

papers.ssrn.com

Rich, Broke or Dead? Post-Retirement FIRE Calculator: Visualizing Early Retirement Success and Longevity Risk - Engaging Data

A FI/RE early retirement calculator visualizing longevity risk in early retirement and enables you to compare the probability success, failure and mortality.

engaging-data.com

 

[generalenthu]

Relevant to this thread, I did decide to hang up my work boots and let my manager know. Still looking to finalize the last date. Built a team doing some good work, and want to make sure the team lands in a good spot with a good successor.

Just like @dakh mentioned, it has been a labor of love for the last dozen years at this firm, where my work has defined me. Time to focus on some projects I have been dreaming of doing on my own for the past 10 years, which may become a second career. Could not have taken this step without the help of Tesla.

Will continue cheering Tesla from the frontline that this investors forum affords, perhaps a bit more so than in the past.

 

[hobbes]

Hey, quick question. Is anyone else happier at work now that retirement isn't as tantalizingly close?

(Just realized I read your question wrong because to me it was just the opposite - much happier after I just decided to retirere . But I leave my reply anyway)

After I decided to quit three month ago, most of the pressure and frustration from work disappeared. It was easily the best period of time in this job (which I never really liked for several reasons). One thing was that anything long-term which doesn´t go well there where I would usually feel frustrated of throwing away my time with badly organized processes wasn´t relevant to me any more. Then transfering my specialty knowledge to colleagues gave me more of a feeling being important than in everyday work (ironically).

Have been off for a few weeks now and feel better than I have for a very long time, much more relaxed - usually I constantly had stuff from work in my head which kept me from sleeping well at night and really concentrate on anything else at daytime. I was a bit afraid of being bored with no special projects but so far the opposite is true. Also, maybe most importantly I feel my social life has improved probably because I am not as stressed out any more and more pleasant to be with (I hope ).

As for my strategy - I sold enough shares to have a year worth of cash (good timing on that early in the year) and another yearly income in in other stock. Keeps it simple and I have no experience with options.

Good luck everyone!

 

[adiggs]

Have been off for a few weeks now and feel better than I have for a very long time, much more relaxed - usually I constantly had stuff from work in my head which kept me from sleeping well at night and really concentrate on anything else at daytime. I was a bit afraid of being bored with no special projects but so far the opposite is true. Also, maybe most importantly I feel my social life has improved probably because I am not as stressed out any more and more pleasant to be with (I hope ).

I had a friend that retired most of a year before me who told me, in retrospect, that he made a mistake by diving straight into a new project volunteering ~1/2 time at a non-profit that is important to him. That he should have taken a few months off to enjoy it.

I took that to heart and am right at 6 months now since I retired. And I'd recommend that sort of a break from any sort of serious recurring time commitment. I'll be starting up a ~1/2 time gig at a non-profit next week and I know that I'm awfully glad that I've taken this time off. I was never worried about being bored - what has been interesting to me is just how quickly being retired feels like my natural state of existence, and it was that full time job thing that was unnatural. In reality I think its the reverse - society needs enough people doing productive stuff right now to function, but I'm ok not being one of the people that is being productive

 

[pz1975]

I would define the time and energy you put into your posts in this thread as productive.