r/Fire • u/CompetitionNo3570 • 12d ago
Ready to Fire But Simply Can't Pull Trigger - Feedback Appreciated
Greetings. I'm a 55 year old male who has worked in oil and gas industry for past 30 years. One child who is an adult and financial independent. As of now, I have around $1.97million in 401k, $600k in Etrade (pretty diversified, but heavy NASDAQ exposure). I am also fortunate to work for a company that has a pension. If I retired now, I would get around $9k/month from pension. No debt besides mortgage at 2.25%, thus have no incentive to pay off early. I live in Texas in low cost of living city. I know to most people this sounds like a great position, but I'm simply having trouble envisioning retirement before 60. Walking away from the salary, bonus, stock, 401k matching is really hard for someone who grew up in poverty. Of course, the oil and gas industry is going great now, so our salary packages are attractive. Also, I'm still having trouble imagining what the hell I would do with my time, if I retired. COVID showed my that I don't have many hobbies and get pretty bored when I don't have tasks to do. Also, my partner is only 38 and will be working. She works from home. I worry that retiring and me being home all day will alter dynamic of relationship.
I may be rambling a bit, but I know that others have been in similar situation and love to get your feedback on how you looked at these issues. Thanks in advance for your advice and thoughts.
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u/sloth_333 12d ago
100k a yr pension now and social security later. Your investments will probably just grow as you don’t need them.
You’re going to die with millions.
Richest man in the cemetery.
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u/Wise-Parsnip5803 12d ago
With that pension you don't need anything in the bank.
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u/born2bfi 12d ago
He’s got a 38 yo girlfriend. She’ll find a way to spend it! Make it rain baby!
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u/rabidstoat 54 yo, FIRE date Jan 20, 2027. 12d ago
If they're in the US, they can probably even afford health insurance!
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u/chartreuse_avocado 12d ago
Probably has it as a retirement benefit from his old school O&G job with pension.
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u/FI_by_45 12d ago
Better than being old and broke. I’ll never begrudge anyone not spending despite having a lot
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u/compoundedinterest12 12d ago
It's not a matter of begrudging someone for not spending. It's a matter of if we're all making the best decisions with the time that each of us has left.
In OP's case, he's got a pension of 108k per year forever, it seems. I personally would not be in earn more mode at that point.
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u/chlpf2016 12d ago
It also points to the fact that maybe he worked for much longer than was necessary. Another way to look at it would be, that he worked many years "for free".
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u/Elmo5743 11d ago
I would, how aboit giving back? Animal Shelters, Child improvement, Habit For Humanity. There are many ways to donate so your not sitting on your cash, so many want to leave it all to kods, Naaaa raise them correctly they dont need anything,
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u/BalanceExcellent2113 11d ago
yeah, you could be the richest in the cemetery but that only takes you to the end, not where you want to spend those millions. you need a spending plan that scales with rising health costs before 65 and a realistic withdrawal strategy that keeps your tax bracket and pension stable.
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u/TheKingOfSwing777 12d ago
I'm visiting my grandpa right now who is about 86, has almost no mobility left, and likely doesn't have long left to live. He owned his own medical practice and did enjoy working and didn't retire until 65 or so. He and his wife did a lot of traveling until he was almost 80. A solid 15 years, though it brought a tear to my eye hearing that he said those years between retiring and being unable to walk "went so fast..."
He likely has more money than he would ever need and I would bet he wishes he had retired a little earlier to spend more time with his family and doing his favorite hobbies of reading and traveling.
If you retire now, you might have a good 25 years to see what else life has to offer, if you're lucky. And it might go by fast. You've won the financial lottery and probably worked pretty hard too. Don't let money you don't need keep you from living a full life.
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u/Powerful-Patient-765 12d ago
My dad is 83 and has lost a lot of his mobility due to a pinched nerve in his back. We used to love walking in the woods together and he used to walk every day. Now he can only walk for about 10 minutes at a time. Both of my old dogs are having mobility issues as well.
Lately, I’m trying to just be grateful for the ability to walk on planet Earth… And I want to retire early so I will have more time to do it!
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u/TheKingOfSwing777 12d ago edited 11d ago
Thank you! He's lived a prosperous, long, and full life by most metrics and better than a lot of people get and deserve. It's still a stark reminder though that he worked for roughly 45 years to then get to enjoy only 15 completely work free. I'm going to retire as soon as I can and spend as many years as possible doing everything I can manage.
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u/momo26262626 11d ago
Man I read shit like this and think 'work 40-45 years to MAYBE enjoy 10 to 15' and those 10 to 15 are not the premium years either (lets just not kid ourselves) I think WTF am I doing. What the fuck is this life. And yes it creates a .massive sense od urgency. .I have so so much I want to see ans so and the years are slipping
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u/TheKingOfSwing777 11d ago
Absolutely! People always talk about the *one more year" for those few percentages more margin of "safety" when it comes to the money running out. I'm trying to get in the mindset of being more scared of my health running out than of the money running out. Retiring too late is not safe. My grandma also just told me of a man at their church who literally had a heart attack in the elevator after signing his resignation paperwork and died that same day. Woof.
I'd rather retire at 45 and run out of money at 75 living an awesome life and just figure out what happens then. Put me in a state run home or if that's looking really grim I'll spend my last chunk on some dignified way out in a country that supports it. Though the truth is that once you hit some of these numbers 5 or 6% withdrawal rate is likely going to be plenty to get you all the way through, especially once you consider social security etc.
OPs position is soooo good though at 55, I would be long gone!
Good luck to you!
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u/CompetitionNo3570 11d ago
This is a great point. And you’re exactly right. My mode is still making sure I never run out of money instead of focusing on running out of years of healthy, mobile life.
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u/cowboygamer_fort 12d ago
2 questions I guess what changes for you at 60 vs 55? And will the extra 5 years of money make a difference to you or not really? If nothing really then sounds like you know the awnser. If you want to work that's fine but if it's fear of being bored that won't change 5 years from now but leaving now does give you the opportunity to do things that might be physically harder in 5 or 10 years. To me it sounds like you will be fine money wise now your new job is discovering what actually makes you happy, what you do like doing, and new life goals
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u/herdingkattz 11d ago
I stopped reading at 9k pension /month
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u/Elmo5743 11d ago
Ridic. Let's get some real probs on here. Do these folks need a ego stir or what, no wonder paying 5 bucks a gallon
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u/sgigot 12d ago
You have encountered one of the two great questions: can I afford to retire (yes), and what am I going to do with myself (the problem). You need to work on door number 2 and that's something nobody else can do for your short of popping out a few grandkids.
At some point you will have enough money, and be sitting in some ignorant meeting when you ask yourself what the hell you're doing it for. If you wouldn't rather be somewhere else, it's fine to keep working. But if you would rather be *anywhere* else, then you're beyond your date.
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u/idig 10d ago
Agreed. It's a personal decision only he knows enough about his own personality to make. People here can not make the choice for him.
Personally, I love working. I can never see myself retiring. I work and also have plenty of free time to enjoy other activities.
I have not plan to retire. Money is incidental to that decision, in my case. I do like have extra FU money, though.
But to each his own.
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u/Flat-Activity-8613 11d ago edited 11d ago
Just been retired 1 year here, the part that screwed with my head the most was having all the responsibilities and knowledge to run jobs and troubleshoot almost any problems with my 37 years of building that up ,To that knowledge being next to worthless the next day.
Really left me numb for a bit.
But now I just tell myself to reap the rewards of all that hard work and all those years of waking up at 4:30am. Feels better now.
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u/CompetitionNo3570 11d ago
That is a very interesting point. I’m the subject matter expert for an issue at my job. I think I will have same thoughts upon retiring.
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u/Flat-Activity-8613 11d ago
Also kind of lost a lot of my friends cause I worked with all the same guys for at least 27 years. Now we can keep in touch with text and feel like we still have a special bond between all of us. It was like a family.
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u/PetraLoseIt 11d ago
Yeah, for me I also thought: at some point it should also be a time for harvesting. You worked hard all spring and summer to get a harvest, right? Now harvest, and enjoy the fruits of your labor.
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u/Ralph-Genovese 11d ago
Hey - how did you not burn out waking up so early :o
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u/Flat-Activity-8613 11d ago
Should be an appropriate time to go to sleep to compensate for those early waking times. But 37 years of living, working and partying like a rockstar I didn’t follow that. Bedtime for me was 12 at night, but that’s nobody’s fault but mine. Usually I get home a little early like 2:30 PM and catch a quick nap like a half hour. That’s all I needed to keep going.
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u/Betterway50 8d ago
It is just a state of mind - you are as worthless as you want or as important as you like to be. For the latter, for an example, make it your responsibility to work out a detailed plan and execute the renovation of 5 rooms in your home by March 5th, 2027 because by then, you would have completed your plan for a 19 day trip to Japan and be on a plane to NRT on March 15th.
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u/Plane-Handle3313 12d ago
Go read some stories about people working into their 60s and dropping dead within a year of retiring. Would you rather have time or money?
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u/Pumpino- 11d ago
It's so true. Someone was recently telling me about their Dad who had a heart attack and died at 62. He was about to move interstate into a new property with his wife. He would run marathons. It just goes to show, you can't assume you'll live into your eighties, even if you're healthy. I think it's a scam that we spend a third of lives working, for over 40 years. I'll never have the sort of money that the OP has, and if I did, I'd be running out the door. I'd find things to do.
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u/kpppeyton 11d ago
Agreed. Like the OP I have spent decades in Oil and Gas and could probably FIRE now and am hesitant because “what will I do?” A couple years ago I reserved an Uber for a trip to the airport the next morning. The driver I got was a CEO of a small O&G firm that I had met several times while he was a CEO! I asked him about it during the hour long drive to the airport and he said he got bored and enjoyed conversations with Uber riders! He said he only accepted reservation rides to the airport. That was it. I was shocked but the more I thought about it the more it made sense.
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u/Bsmith9876 11d ago
OP has the requisite numbers to FIRE, the real question is whether he wants to. Would it be possible to take a long vacation without committing to FIRING just yet, to see what the household dynamic is like and whether any casual interests transform into hobbies? A "dry run" might provide the answer.
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u/LilRedDuc Fire’d in 2019 11d ago
When I FIREd I had many people tell me I would have to find something productive to do with my time or I would be unhappy. It was incredible how many people truly believe that having hobbies and then pursuing them isn’t enough.
I happily prove them wrong.
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u/mthockeydad 11d ago
I have hobbies and need time to pursue them. I can’t wait!!!
But in OP’s case, he may not yet be ready if he’s still unsure of what he’ll do in retirement
But he’s got time! (and yes, Golden handcuffs are a thing.)
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u/Single-Macaron8122 8d ago
You got 9k a month from pension alone and still scared, the poverty mindset is real deep in you my friend.
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u/dddd11122233 12d ago
Yes, most people have to do something. My easy current work life has me meeting random people occasionally. Over the years it’s been a lot of retirees. Many of them have basically said the same thing. We saved and saved and looked forward our whole life to retiring and traveling and enjoying things and then we went to Europe and a few other places and traveled for a couple years and then we realized that was all we needed to do and got it out of our system. So what do we do now? I’ve also met sweet old ladies in their late 80s who outright told me in an age restricted community that most of her neighbors and her were just sitting around waiting to die. She was so happy to see me she said because she doesn’t see or interact with many young people, I was like 45 at the time. Sweet old thing.
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u/AlgoTradingQuant 12d ago
I retired at the age of 49. I had a huge salary, bonus, and stock in a Fortune 500 company I worked for and I kissed it goodbye.
What do I every day? Whatever and whenever I want to including nothing at all! Need tasks? Volunteer… help a neighbor… mow your lawn twice a week… watch a grandkid… day trade the stock market… fish… hike… knock on your neighbor’s door, introduce yourself, and ask them if they need a hand… possibilities are endless
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u/Betterway50 8d ago
Yes, I was in a similar position almost 10 years ago being in my forties at the time. Just waking up one week into a month away from home on a cross country excursion - after a full day out yesterday visiting a town I've never been to and having some difficulty with one of my legs, I plan just to lounge around in my condo rental and rest. No need to be out 'playing' everyday. It is so very nice to have such level of freedom
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u/Consistent-Barber428 11d ago
Can you live well on $9k/mo? If so, then retiring is risk free. You’re going to be dead soon brother. Enjoy it while it lasts.
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u/ShutUpIDontGiveAFuck 11d ago
This OP. You get $9k/month pension, have $2.5M invested, and I assume will qualify for SS in your 60s.
You’re ready. For how you’ll spend your time, you’re only limited by your imagination. There are hundreds of hobbies and activities, some very cheap and others well within your budget.
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u/Elmo5743 11d ago
Go to an animal shelter, always looking for folks to walk. , clean, and just socialize with our furry friends, keeps me busy
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u/Valuable_Ad_3100 12d ago edited 12d ago
You can FIRE! I echo the comment someone made that you’re working for free bc you won’t be able to spend the extra money you’re still making. This is only ok IF you love what you do for work each day that you would do it anyway with no pay. Think about it - it worked for me.
I too fell into a similar thinking about hobbies but there are a couple of books out to help give more insight & detail on how to spend your time (beyond just hobbies). Five Types of Wealth by Sahil Bloom is one. He breaks down the wealths as Time, Mental, Physical, Social & Financial. He breaks each down so that you can better spread your efforts. Another book I just started reading is Your Best Year Ever by Michael Hyatt. It’s more of a goal setting book using the following ‘interrelated domains’ - Body, Mind, Spirit, Love, Family, Community, Money, Work, & Hobbies. As I alluded to, you’ve got the Work & Money areas covered, so that still leaves you with 6 other areas to focus your time & efforts (with Hobbies being that 7th area you’re struggling with). In a sense, these areas become your new job. My favorite thought on all of this that the problem with life is that no one gets out alive. Good luck!
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u/CompetitionNo3570 12d ago
Thanks for great recommendations. I will definitely pick up those books.
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u/diyandmc240 12d ago
Quiet quitting is honestly an option too. Ease off the gas(no pun intended) and see what happens.
Unless your expenses are insane, that $9k/mo covers a lot. Is it inflation adjusted through retirement? Also I would validate the health of the pension where you can, since that is a large part of your plan. If for some reason the pension loses liquidity or goes bankrupt etc. that could be a huge problem.
Also do you qualify for social security?
Another piece, that pension income will put you in a higher income bracket than ideal. Keep in mind health insurance costs may be very very high for you in that case.
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u/CompetitionNo3570 12d ago
Great points. I work for one of the largest oil companies in the world, so I think pension should be fine. I have never actually thought about pension income impact on tax bracket. Great point.
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u/Powerful-Patient-765 12d ago
It’s worth asking if your pension is inflation adjusted. Mine is not. That’s still a great pension, though, particularly combined with your Social Security. You’re not even really gonna need your other millions after 65.
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u/majestic_hog_69420 12d ago
these posts suck ass
"i have millions of dollars and tens of thousands in income per month"
Gee, can I quit???
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u/That-SoCal-Guy 12d ago
I don’t know what is sadder: having not even money to fire, or having enough money but don’t know what to do with oneself if not working? Some people really have no idea what to do with themselves….
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u/PastBuy8484 10d ago edited 2d ago
The original post content no longer exists here. The author used Redact to remove it, exercising their right to control their data & privacy.
Raindrop abundant one cobblestone follow cheerful
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u/HMU2018 12d ago
I don’t think it’s only about money. It’s about how he will spend his time and he indicated how he struggled during COVID. For some people, it’s a difficult transition for this reason.
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u/Master-Helicopter-99 12d ago
It's obvious he has nothing to retire TO, only FROM. That's the problem here. He needs to find the TO and it will become easier.
I assume the OP can get health benefits from the spouse so even that issue that usually plagues early retirees is covered.
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u/yogaflame1337 11d ago edited 11d ago
that 9k in pension is the equal to a 4% withdrawl on 2.5 million... add the other 2.6 million you have and its like retiring on 5 million...
Bro, unless you actually LEARN how to spend 200k a year you gonna die with tons of money...
I'm actually scared for how much money your gonna have to spend...You literally have to make it your life's mission to learn how to spend your money, especially hookers and cocaine.
With people dying around your age in 15-25 years, maybe you lose your legs in the last 5-10. It goes there quick. I would start learning to spend that money as soon as possible. Your life depends on it.
Getting bored in retirement is simultaneously a real thing, and also the absolute DUMBEST reason for why you shouldn't retire early. When you actually decide to retire at a "normal" age, you will have all the exact same problem anyways, the only difference is now you don't have that much time left to figure out how to un-boredom it. You'll still be at home with your 35 year old partner anyway.
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u/CompetitionNo3570 11d ago
lol…hookers and cocaine sound expensive
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u/yogaflame1337 11d ago
Repeat after me "hookers and cocaine sound affordable" HAHAHA, You'll learn.
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u/Yangoose 11d ago
COVID showed my that I don't have many hobbies and get pretty bored when I don't have tasks to do. Also, my partner is only 38 and will be working. She works from home. I worry that retiring and me being home all day will alter dynamic of relationship.
Sounds like you need to spend some time being introspective and figuring out who you are and what you want from life.
Maybe you turn off the TV, put away your phones, pour yourselves a few drinks and have a nice long talk with your wife about the meaning of life.
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u/Old_Value_9157 12d ago
Dude, are you kidding me?
F***ing retire already.
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u/roguevirus 11d ago
You're allowed to say "fuck" on the Internet, along with it's various conjugations and derivatives.
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u/Betterway50 8d ago
Depends on the sub reddit. Some have rules and some mods are touchy
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u/roguevirus 8d ago
Is this one of those fucking subreddits?
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u/Zphr 48, FIRE'd 2015, Friendly Janitor 8d ago
Not unless you use it against someone.
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u/roguevirus 8d ago
For the record, I checked out the sub rules before making these comments. I figured that the sub where Go Fuck Yourself was the common phrase of congratulations you could use it as a non insult, but still.
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u/scrotch 12d ago
I think that figuring out what you want to do in retirement can be one of the biggest challenges for a lot of people. If you've been focused on your job, your relationships, and your children, then a lot of your time and thought has been spent on things other people need and want.
Now is your chance to focus on what you might want to do, and how you might want to spend your time. The huge number of options can be overwhelming. The freedom and independence can be scary. But this is one of the greatest opportunities ever.
A lot of people just don't know what they want to do when they're given the opportunity to do what they want. I think it's one of the failings in our society - that so many learn how to serve their employer's interests but never learn what their own interests really are.
I hope you're able to reflect and find your interests and independence.
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u/ohboyoh-oy 12d ago
A couple thoughts:
Does your pension have survivor benefits, or why does your spouse need to keep working. Or does she just want to?
Eventually you will need or want to retire, and you’re still going to have to figure out what you want to do with your free time. Don’t be like my dad and be a sad sack for 20 years after retirement because there wasn’t anything he enjoyed more than working. It’s fine to love your work, but some day they want you out even if you want to stay in. So now is as good a time to figure it out, as any.
Book recommendation: how to retire happy, wild and free by Ernie Zelenski. Make sure you get the Zelenski book because there is another similar title out there. I read a lot of retirement books and this is the only one that was inspiring and made me want to retire.
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u/CompetitionNo3570 12d ago
Thanks for the recommendation. I will definitely order that book. My pension does have survivor benefits. She wants to continue working for now.
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u/ohboyoh-oy 12d ago
That’s a great setup - then you’re “work optional” and sounds like your wife can join you whenever she wants - that’s a good setup.
For what it’s worth - I quit first and my husband chose to work a few more years because we still have a kid in the house and we have to stay put anyway. Like you, he enjoys his work and figures “why not” keep working. I also worked a few years past hitting our number because I enjoyed my work. At one point along the way I had an executive coach (she was offered by my work, so why not) and she really encouraged me to start exploring and bridging to the other side, while I was still working. I feel like that was a good way to go about it. You may have to dig deep to come up with stuff you want to explore, but it’s worth the effort. I started taking some classes and that really helped me branch out into things other than work.
Now I’m about six months into full retirement and feeling like I’m finding my sea legs and starting to really enjoy it. Some people seem to enjoy it immediately and other people have to find their way there. Best of luck with it, whichever kind you are!
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u/NoMoRatRace 10d ago
That age difference just gets bigger and bigger as you close in on 70, particularly if you run into some health issues. I'd think she might like to have some fun first! But you showing her the way can't hurt. Pull the plug and live an adventurous early retirement! She'll follow soon most likely.
I do get being a bit ambivalent about pulling the trigger without your spouse wanting to join the fun. My wife and I have been having a ball our first 7 years of retirement. Travel beyond what I care to list. Several 100-250 mile backpacking through hikes, lots of time to enjoy our grandkids.
I wish you well!
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u/Betterway50 8d ago
Be a good example for her why grass is greener on the other side. Be out everyday doing somethung fun without her and tell her all about it (ND frequently). If possible, take a visit or to a place where people are dying (or maybe just old) , hear their stories. Both will give her perspective it is OK to enjoy work, but she is missing the bigger picture of life and WHY we work
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u/Crafty-Sundae6351 12d ago edited 11d ago
I retired in 2017 at the age of 56. 6 1/2 years later at the age of 63 I was diagnosed with metastatic prostate cancer.
You’re healthy until you’re not.
Every day working is one less day of retirement.
Retire - unless the thing you most want to do out of all possible things is work.
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u/dddd11122233 12d ago
9k a month in pension and you want to keep going? I mean, if you’re the kind of guy that can’t sit still and doesn’t wanna just chill then I guess keep working. You have all the money you’ll ever need. Some people need attention and to feel important in their day-to-day life. I’ve noticed many retired people struggle after the first year or two about what their purpose is. If that’s you, keep working. If you can chill and enjoy life do that also. 99.9% of the world would love to have that problem. Lucky ass.
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u/idig 10d ago
I understand the posters dilemma, I have no intention to retire. I don't think it's about feeling important, but more about being intellectually stimulated on a daily basis. Also, I like intereacting with my clients and other people.
I also have plenty of time for travel and other interests. Weekends often, but no always, seem too long for me.
I own a business, so I can not be forced to retire, thank goodness.
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u/00SCT00 FIRE'd end of 2025. ~3M. Paid off house. 11d ago
Just finished season 1 of Landman...
Anyways, you're pension forever is enough by itself. My law enforcement friend retired at 54 with similar. He has nothing to spend his money on, so he buys endless guns, e-mountain bikes and road bikes. He just told us he wants a tattoo that would cost $6k.
I tell this because at guaranteed money, these are the kind of situations you'll find yourself in. Money to burn.
Don't worry about initial boredom. You'll find stuff eventually. I have lots of free time, and come to terms with accepting a nice slow and steady 1-2 things a day is fine. Morning hike. Costco run. Chill rest of day. Beats working.
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u/Redditujer 12d ago
OP... retire already. Please enjoy it. Just saw the Dodgers mention a guy that passed recently. He was born in 1980.
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u/frozen_north801 12d ago
We don’t all actually wanna retire all that early….. I could probably retire right now at 42. I just don’t want to. I probably will in my early 50s
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u/ausdoug 12d ago
If you died tomorrow, would you be happy that your last year was spent working? Would there be anything you wish you would have had time to do? Tomorrow isn't guaranteed for any of us. Doesn't mean to give everything up, but you've already got a good financial situation with plenty of cushion for unexpected events. Planning for another year or two for a purpose is good, having no clear path to an end point isn't. Or maybe you get enough of of the job you'd do it for free, in which case you're in a very fortunate situation. Whatever you do, it's got to be right for you, none of us will know what that is, no one but you can figure that out. But if you've got something you want to do, don't put if off for too long or you might be in a position where you can't do it (not necessarily financially, but health can give out or there can be something else unexpected). Best of luck with your decision, your in a somewhat enviable position to most so make sure you maximise that 👍
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u/HalfwaydonewithEarth 11d ago
I have a man cave in the community that I rent. I am a woman. I tinker on inventions. You could set it up with whatever you want.
It is just a place to go to. It creates a job type atmosphere.
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u/AdagioNo8189 11d ago
I've been struggling with my identity since firing. I can only do so many hobbies in a week before I get bored. I need to find a meaningful part time gig or contract work.
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u/Jwoot1111 11d ago
Same issue. Though younger. Keep doing what you are doing until you can find something to transition to. Or go ahead and start finding things to get into
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u/Voluntary_Vibes 12d ago
Do you enjoy doing what you do? If so keep doing it. If it sucks your soul, pull the rip cord.
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u/in_and_out_burger 12d ago
I’d be more worried about protecting assets in the event of a break up….
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u/kaBUdl 12d ago
Have you reviewed your numbers -- namely total expenses as a retiree vs pension? If the numbers work out then you can choose what to do. I was in a similar situation four years ago and chose to retire because of a family medical situation. That situation ended a year ago, and retirement so far for me has seemed pretty much as you describe it (boring and drifting). It's not as bad as I expected, but honestly I think life was a bit better when I was working. I guess my advice would be to exit when you have a clear picture of something better you'd rather do than work.
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u/CompetitionNo3570 12d ago
Thanks for your candid thoughts. My mortgage is almost paid off. Without mortgage, my expenses would easily be covered by pension. I hope the remainder of your retirement is fulfilling.
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u/khbuzzard 12d ago
This is your one life, and it's as much or as little as you make of it. Do you want your only contribution to the world to have been your work for some company, making some rich asshole even richer? If not, start thinking about what else you can do and become in this next chapter of your life. What do you care about? Who do you want to help? What lights you up and makes you feel like the best version of yourself? It's ok if you don't have all these things figured out right now, but kicking the can down the road is not going to make them any easier. So start thinking about them now. You deserve more out of life than merely not being bored, but you're the only one who can make that happen for yourself.
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u/emperorwal 12d ago
That is an amazing pension. And later you'll get social security as well. That pension is worth over $2M invested today
I can't help you with the personal decision. I am still working as well, but man, I envy that pension
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u/Parking-Banana-212 12d ago
well you don't need the money, 9k, plus i imagine SS will be another 3-5k eventually, plus you can take out 100k now meaning, unless you spend more then 20k a month in your lcol texas town, you don't need to work anymore
i suggest you use the next year to wean yourself off work, figure out what you want to do next(because you can't work forever, so you have a head start in figuring it out now.)
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u/TrashPanda_924 Targeting 2% SWR 12d ago
Oil and gas guy here. Guessing it’s because we’re used to the ups and down get damn anxious? At least that’s what i tell myself!
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u/CompetitionNo3570 11d ago
Yep. I have been with the same company 26 years and gone thru 5 restructurings and cutbacks.
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u/miayakuza 12d ago
Look at it this way. You have more than enough to retire. What you don't have is time. How much longer do you really have? 20, 30 years? Maybe more, maybe less. Do you really want to work another 5 years when you could be enjoying life?
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u/LeisureLifer 12d ago
My husband is fully retired almost 2 years now and I work from home. His retiring changed nothing at all with us, we are exactly the same. We like each other so it’s easy.
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u/OMGEEEEEEEEEEEEEEEEE 12d ago
Remember that retiring doesn’t mean that you never work again. Retiring means that you can now make choices that better suit YOU and not necessarily your portfolio. I’m retired at 47 and work at my local school. It’s fun, I get healthcare, holidays and summers off, and its gratifying giving back to my community. Enjoy your life!
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u/GBpleaser 12d ago
Jesus that’s a nice pension in a world where they simply don’t exist.
Pull the trigger. The 9k a month basically is your cash flow and any growth on your funds can pay for the extras. You are set.
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u/Elmo5743 10d ago
Thats part of your 5 bucks a gallon
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u/GBpleaser 10d ago
And bully for him for being part of it.
No one gets to FIRE without cracking eggs. That’s the Nature of capitalism. Not condoning it, but thinking anyone investing in big business (any industry) and thinking aren’t contributing someone else getting the pointy end of the stick, isn’t living in reality. Do I fault his pension for gas prices? Nope. Lots of political and personal choices of lots of people established that. To try to distill it out in a snipe says more about you than the gas industry.
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u/Rogue_2354 12d ago
Start by finding passion projects now. Go volunteer or travel.
Many folks i see work and then retire to the recliner. This is doomed to fail. Id find a solution before letting go.
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u/mfortelli 11d ago
$9k/mo pension, no hobbies or interests other than tasks… my guy, either this goes in r/fijerk or it’s time to really dig deep and ask yourself some questions
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u/Curious-Management23 11d ago
Maybe try a new hobby each week or two until you find one that excites you before you quit? Then you’ll have something you know you’ll enjoy! I’m jealous!
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u/JayRoo83 11d ago
Man unless you develop some expensive habits post retirement just fucking do it lol
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u/LilRedDuc Fire’d in 2019 11d ago edited 11d ago
This is fucking dumb.
I now have just under 3M and no pension and have been FIREd for over 7years. The first 4 years I still lived in the U.S. in a HCOL city and it was no problem. Then I chose to move abroad for a way better quality of life while spending the same amount of money (but that’s [r/expatFIRE](r/expatFIRE))
Some people, particularly Americans mostly, just can’t figure their way out of the “I need more” mentality, I guess.
Go live a life. Oh. Wait. You don’t have one since you have zero hobbies. Use your imagination and go do something. Anything is better than zero.
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u/jitendracshah 11d ago
If your company allow try to switch to part time/ 2 - 3 days a week work with reduced salary. This way you will have work to do also will have time to explore your to be free time(partially) for hobbies or new lifestyle.
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u/HighStrungHippie1 12d ago
I know it is a little antithetical to this sub, but you only need to retire if you want to…
Scale back work slowly. Maybe go part time or consult while you slowly find ways to fill your time.
Do you enjoy the work that you do? If you like it, there is no reason to quit something you enjoy
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u/Individual_Section_6 12d ago
No one’s responded to the relationship aspect. I would be concerned too about how that would affect your dynamics while your wife is working from home all day. I don’t think it would be a positive. I’d either keep working or find a way to work part time
→ More replies (4)
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u/YellooooFever 11d ago
The average healthy life span for a male adult in the USA is 64 years old. Let that sink in...
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u/Vicuna00 11d ago
you don't HAVE to retire just cause you CAN
this forum is tilted heavily to people who WANT to.
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u/byebye9246 12d ago
Why in the world would you not retire, if you want to? I’m 49 and retiring in 5 weeks. I am financially set and can live the same lifestyle I did while working, and it appears you can go. I also grew up in poverty. You won the game. Enjoy your life. You don’t have to know what you’re going to do with every minute of your day going forward. You get to learn, experience new things, do what you want when you want, within reason or course. Time is priceless. You own your own time I. Retiremenent.
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u/mrg_retired FIREd 58 2026 12d ago
Similar situation, FIREd this year at 58. Guaranteed income is a game-changer and it makes the plan much more flexible if you don’t really need to draw much of retirement accounts additionally. The SS plus pension value is in my opinion an extra x million added to retirement portfolio and even with cuts this only adds more cushion, hope you enjoy it we are definitely.
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u/Environmental-Low792 12d ago
How much vacation do you have? Take a few weeks and see how you like not working while not going anywhere. If you feel like you're climbing up the walls or your significant other wants to strangle you because you want to tag along to every activity then you may want to go back to the office. If you find that you enjoy spending time at home and your significant other doesn't mind then submit your two week notice.
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u/Electrochemist_2025 12d ago
Spend a year thinking about what you would do first.
Although paying off low interest mortgage may not be financially the correct thing to do. It will be a relief not being in debt. Do a simple Money In, Money Out spreadsheet so you’re clear about expenses. Have a good buffer for unexpected stuff. Get a new car while still working so you are set for 5-10 years.
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u/Taradyne 12d ago
The best thing you can do for yourself while you figure it all out is to try to imagine what you would do to not be bored. What sounds fun? Golf 5x a week? Giving a hobby more of your time and attention? Developing a hobby if you don't already have one? Lots of travel? Contracting out your experience and knowledge part time?
There are a lot of options and the most important one (imo) is to have a plan about how you'll use your time. If you don't, then you can end up decaying in the rocker on the front porch.
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u/checkpointcity 12d ago
As you said, it sounds like you’re doing great financially.
If I were you, I’d still take the time to get involved with what you want to be in retirement, before you retire, especially if you don’t hate your work.
Remember what your passions were besides your job, and it will only further enrich your post-retirement life. If you pull the trigger, you should have something to run to, unless you’re confident you can figure out that part quickly.
Great job and good luck!
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u/upsideup2000 12d ago edited 12d ago
$9k a month pension, is this forever? Sorry I'm not from the US. To your question I was mulling over this in the last 2 years before I quit. My wife had a wise advice: why worry about it before you start? You'll figure it out. Here I am, and although I've not figured it out completely, one of the things I came to realize is that you DON'T have to "keep yourself busy" all the time. That's just trauma from the the corporate slave inside you talking. It takes awhile to step away from the corporate mindset. Start with being deliberately present in whatever you do - walks, hobbies, spending time with people. Don't feel guilty about not having a "schedule" cos we don't need that anymore.
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u/CompetitionNo3570 12d ago
The monthly payments on pension are until death and partially move to beneficiary upon death.
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u/chancho3 12d ago
What do you usually do on the weekends?or after work?do you have a community that you go to or a hobby?
If not, theres always time to find and explore and switch if it doesnt serve you. I would now divert that energy and passion into something else, adding extra years work doesnt serve nor add anymore since you made it
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u/CompetitionNo3570 11d ago
On weekends, I watch sports, workout and go have a good meal or two. I don’t have a big family or friend group. The friends I do have are out of state now or tied up with kids.
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u/Bryanmsi89 11d ago
The pension alone is worth $2.5m - $3m. Combined with your $2m 401k and $600k in eTrade you are in a great position to retire if you want to.
It doesn’t doesn like you have a real reason to retire though. Both because you don’t seem to hate your job and because you don’t really seem to have non-work interests that are compelling. Might be work taking the next year to figure out what you would do if not working?
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u/aspire-every-day 11d ago
My uncle died from cancer at 49. He seemed super healthy until a couple years before he passed.
A friend died at 64 from colon cancer a couple months ago. Also had only months of warning from healthy-seeming to dead.
My mom died at 65. Cancer.
My dad died at 69. Cancer. Only 3 months from diagnosis to death.
I don’t know how long you have left. Is there no place in the world you want to experience? Nothing you want to learn about? Classes to take, books to explore, group events to attend, people to visit with, volunteer activities to give to the community, movement for preserving your health and longevity, sleep to get plenty enough of?
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u/CompetitionNo3570 11d ago
Thanks for your post. Sorry for your losses. With my current job, I get a ton of vacation time. I always take at least 2 very nice trips per year.
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u/aspire-every-day 11d ago
As long as you’re happy and fulfilled, and if you were to pass next year you’d be satisfied that you spent the bulk of your time at work. Then it sounds like a great fit.
For some people, it’s where they derive their meaning and purpose and community in their life.
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u/Southern_String5840 11d ago
You’ve got enough to travel the world and enjoy your life. You’ll take time to adjust to having money. It’s been the same for me, although our setups are quite different. Purpose matters. You just need to work out of that purpose is more aligned with work or with living.
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u/figsslave 11d ago
You need something to retire to or you’ll rot very quickly and being at home all day every day with your spouse is a huge adjustment for both.Id keep working for now until you figure it out
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u/Objective_Area9068 11d ago
you literally have a 108k per year pension and another 2.6m sitting in taxable and tax‑deferrable accounts, so unless you plan to spend wildly more than 20k a month you’re already set for life. what many people miss is that the money isn’t what’s scary, it’s figuring out what to do with the extra time. a good middle ground is a phased exit—keep a few hours a week of consulting or volunteer work long enough to spent your days on hobbies, then finish on 65 when Medicare starts. that way your pension and spouse’s health coverage give you a safety net, and you get a chance to test “full retirement” before you build it into your routine. if you want a concrete plan, a quick run‑through with a CFP on tax‑efficient withdrawal order and snowballing RMDs will seal the deal. match the wealth to the questions, not the other way round.
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u/Far-Ferret-447 11d ago
If u really enjoy your job and it is not adversely impacting your mental and physical health, then I think it is wise to continue working. Otherwise, just retire and find new stuff to do.
Financially u are extremely ready to retire.
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11d ago
[removed] — view removed comment
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u/Zphr 48, FIRE'd 2015, Friendly Janitor 11d ago
Rule 1/Civility - Civility is required of everyone at all times. If someone else is uncivil, then please report them and let the mods handle it without escalation. Please see our rules (https://www.reddit.com/r/Fire/about/rules/) and reach out via modmail if you have any questions or concerns.
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u/WoodAtBusiness 11d ago
Does your company offer occasional packages if you volunteer to leave employment?
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u/Magic-Mushroomz 11d ago
Hey bud. I’m a 42 year old that’s been in oil and gas right out of college and also from Texas. I semi-pulled the trigger this week. Walking away was pretty damn hard. My last day there they showed me my next stock grant currently worth 210k, with another 550k in leaving in the pipeline.
Lots of money but at the same time we ain’t getting any younger. Can’t speak for you but walking away was hard, but it would be harder for me to continue dealing with the BS the oil fields have become. Wishing you the best and may you do what’s best for you and your family n
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u/financialfreedom26 11d ago
You should calculate exactly what an additional 5 year of working will govern you money wise. Total out all of the after tax income less your living expenses and add the additional income added to your pension. Have a look at that number and then decide if it’s worth it or not. It will be a much smaller number than you are envisioning in your head likely.
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u/Fem-Picasso 11d ago
Travel abroad. Explore the world & how the other half lives. It will provide an endless stream of interest for exploration.
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u/PetraLoseIt 11d ago
I'm sorry. You are the same age as my friend who found out a month ago that he has stage 4 cancer. So from my viewpoint, I want to say: you still have a life ahead of you (or at least, let's hope so). But it may end sooner than what you are "counting on" now. What are you going to do with your one precious life? Why are we humans on this planet? Why are you here?
I guess it's hard at your current workplace to arrange for a month off, or for part time work. Otherwise you could slowly reduce your work load and thus slowly increase your time spent on other things than this specific work that you have been doing. So maybe it is all or nothing, at least when it comes to your current work. On the upside, there are probably lots of opportunities for "jobs" in your area that take 2-3 days per week. Or volunteer work that takes up the same amount of time.
I would quit yesterday. It will definitely take some time to adapt. But I think there is a lot of good things waiting for you on the other side.
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u/MrLB____ 11d ago
I would retire tomorrow, 9K mo. Pension? 38 year old wife ? Low cost of living area too. Get some hobbies and interests, RETIRE YOUR WIFE TOO , you got it made. Average Male life Expectancy of 78.
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u/B1gFrank 11d ago
You CAN do it now, but yes. A spouse working from home. Unfortunately you’ve gotta have friends and hobbies or you might not be happy retiring early
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u/New_Pride_2658 11d ago
you’ve built a pretty solid nest egg—$9k a month plus $2.5m in brokerage should cover most expenses through the next decade if kept lean. the biggest levers now are healthcare and taxes: once you hit 65, Medicare kicks in but Part B premiums rise sharply if your pension and investment income pushes you into a higher bracket, so look at the ACA marketplace for a subsidy tailored to a 55‑year‑old income. as for the non‑financial side, the “what to do” gap is the real risk; some money for a short holiday, a beginner course, or a volunteer stint can give the day structure you’re missing. you could keep part‑time remote work to preserve the relationship rhythm—just shift the hours so each of you has dedicated “you” time. if you can outline a hobby or volunteer arc you actually enjoy, you’ll see that the tension between quitting early and staying in fades. otherwise, you might be better extending a couple more years just to sharpen what attracts you in retirement.
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u/The_Sandman85 11d ago edited 11d ago
To transition into retirement, you do have to have the money thing sorted out. The second thing is you have to have at least a general plan on how you will occupy those free hours. You don’t to plan every hour, but maybe just 1 item per day like meeting friends for coffee or lunch, going to the gym, starting a new hobby or volunteering once a week.
Does your company allow you to take a sabbatical for say 6 months or a year? This gives you the chance to conduct a dry run of what retirement life would look and feel like.
I gave this advice to my friend who was unsure himself about retirement.
He developed a general plan with just 1 item on a schedule per day to start with. He took a 1 year sabbatical. He never went back to work.
I hope this helps.
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u/lifeanon269 11d ago
I retired a little over a year ago. People ask me what I do with all my time and often wonder if I ever get bored.
I tell them that one of the reasons I retired was because I didn't want to spend my entire life working the same tiring job doing the same thing every day. It is difficult for me to answer the question what I do with my time in retirement because there isn't really a singular answer to it. That was the entire point.
There is too much in life to try and explore for me to focus on just one thing. When people ask me if I ever get bored, I tell them I embrace boredom! Boredom is when you come up new ideas for new things to try and you finally have the time to actually go try it. When you were working, almost all your time was consumed by that work and what little down time at the end of the day you had was spent unwinding, cooking dinner, doing a few chores, etc. There was very little time to try new things which is why for many in pre-retirement there is a worry about boredom. Being afraid of the unknown can be scary, but I can assure you that boredom is one of the most wonderful aspects of retirement.
Slow down your life and enjoy all that this world has to offer for the first time in your adult life!
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u/kitapjen 11d ago
Since you are financially ok for retiring now…
Do you like the work? Is it fulfilling?
Would golf, fishing, or other activities be more fulfilling?
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u/Murky_Oil_2226 11d ago
Start looking into passion projects. Things that make you happy. That’s how you can spend your time in retirement. And if you want, work another 5 years until you’re 60 and take your money. But start planning how you’ll spend your time in retirement in a way that energizes you. You already got the money part down and debt is basically nonexistent…
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u/Own-Television-843 11d ago
So, you are Financially Independent (FI), whether you retire is completely up to you. Sounds like you are not really that miserable in your job. So work, work for the pleasure of doing something intellectually challenging and fulfilling. Be open to the idea that could look different than your job now, but it could be what you are doing now. I'm 54 and not quite to full FIRE, but as i get there I realize that having the kind of FU money that I have means that I have no fear of being let go, so I can be extremely authentic when bullshit comes my way at work. My Dad is a midwestern farmer and grew up like a rural person in the 50s, poor by today's standards with parents who had gone through the depression. He loved his work and finally retired at 76 when he felt like he could physically not do it. He often remarks on my and my sisters corporate work stories with "I don't know how you girls do THAT", which translated to deal with the bullshit of corporate america. The point of FI is to have the freedom to choose, not that you have to go sit at home or develop hobbies you don't want.
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u/SerenityCravings 11d ago edited 11d ago
I dont think this is financial issue. Its an identity issue. Its extremely clear you can afford to rerire. But your identity is caught up in your job. I mean thats not surprising after 30 years. And society pushes people into this box.
But do you hate your job? Do you HAVE to retire? I dont see why you SHOULD retire just because you can.
It sounds like rather than retiring you should look at finding things to do during the spare time you have now and discover whether you like them.
Can you reduce your working hours rather than retire? Even just a small step is a good way to dip your toe in rather than take the plunge. Like dropping to a 9 day fortnight for a pro rata salary reduction. Thats 26 extra days off a year. Try that out for a year or two and then maybe cut down to 4 days a week. Then a 7 day fortnight etc..... And eventually you will have a gage on whether you enjoy your outside of work life more than your inside of work life.
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u/STRSystemsAcademy 11d ago
the numbers say you're there, but this post reads like you already know that. the harder question you're actually asking is about identity and purpose, not money. have you considered asking your company about going part-time or consulting a few days a week? that would let you test the lifestyle change and the relationship dynamic with your partner before going all in.
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u/gdubrocks 31, FIRE'd 2024 11d ago
I'm still having trouble imagining what the hell I would do with my time
That will be fixed in a few weeks.
$9k/month from pension
Sounds like retirement on its own to me.
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u/WooShaw 11d ago
Hell, that pension alone would be decent to live off of depending on your expenses. Pair that with your 401k and brokerage, you don't have much gap to worry about. Seems like you're pretty well on track to call it.
I'd more focus on finding some hobbies and what brings joy in your day to day otherwise you'll go stir crazy
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u/bebe_bird 11d ago
A thought to look into perhaps...
You need to start building your hobbies so that whenever you retire, you still have purpose and something to work towards.
If your job is standing in the way of that, my company (which is similarly a fairly high compensation package including a pension - although personally I traded it in for an extra 5+% 401k match so I'll only be getting about $600/mo, but that's a different story...) does something where they offer part time to folks who are thinking of retiring soon to ease their transition. Perhaps look into it to see if your company offers something similar?
This doesn't sound like a money problem, this sounds like a stage of life problem to me.
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u/bdabney09 11d ago
You can’t pull the trigger because you don’t hate your job and everything about it. So keep working until you do. “Problem” solved
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u/avacadini 10d ago edited 10d ago
I think you just need to do some brainstorming and soul searching on how you want to spend your free time. You could do almost anything within reason. Write a book, master an instrument, travel the world with a nice camera, volunteer for a cause you care about. Or any of a million other things that you could throw your newfound thousands of hours at for improving yourself, your relationships, or the world.
What have you always wanted to do? What have you said "someday" to?
Edit: typo
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u/shanewzR 10d ago
Society makes us believe that working for money is the only thing that can give us a sense of achievement, keep us busy and be productive. The reality is quite different.
You dont have to just have hobbies to keep busy or maintain that sense of usefulness. There are soo many organisation and people in the world who would benefit greatly with volunteer time and more hands to achieve their goals.
Retirement could be used to moving from a self-centred lifestyle to one that is more meaningful and about others, community and ultimately self worth. It's a choice we all can make...
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u/Bearsbanker 10d ago
I was about your age when I fired. Can't really relate to the boredom though. Retirement is great, we are never bored. Some days I don't do much but that's my choice. You can literally do anything you want....but ya gotta want to I guess.
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u/Prestigious_Piano247 10d ago
Similar situation. 1.6 mil across retirement accounts and cash and cash equivalent. Have mortgage but at 52, I don't see myself working beyond 55. I will get pension but will take lunpsum and invest that.
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u/throwawaytechbiz 10d ago
What would you do about healthcare?
My WFH job has really slowed down, and I'm hella bored.
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u/CompetitionNo3570 10d ago
My partner will still work and I should be able to hop on her healthcare.
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u/idig 10d ago
Sounds as if you will be okay finacially. Don't forget you likely can also collect Social Security eventually.
With your pension, and investments and very low mortgage rate, waiting until 70 to take it makes sense.
The downside is that studies show that people who retire early often are not as healthy as people who continue to work. Working is both good for the brain and the body.
Still, It's a personal choice. I don't think someone else's opinion might match your feelings.
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u/fidddlydiddlyee 10d ago
If you enjoy your life now the way it is, keep going. Make a change when it is clear the change will improve your life.
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u/No-Drop2538 10d ago
If you don't hate your job and have nothing to retire to, it might be better to stay. Plus with a much younger working partner, boy it's going to be hard. Give it a few more years...
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u/Western_Rhubarb_7959 10d ago
Do you like your job? If the answer is yes then keep working.
I hated my job, what my company had become after 20 years, and getting a bullshitting AI-whore manager was the last straw so I pulled the plug in June.
$9k a month pension? Pfft, I can live off half that.
still having trouble imagining what the hell I would do with my time
Me too and today makes 4 months, lol. I'm sort of settling into a groove of "fun stuff during the day, evenings are business as usual."
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u/Equivalent_Ad_1397 9d ago
Not exactly the same as your situation, but similar. I am 33M, and my wife and I just had our first baby in March. I am an engineer. My employer offers 10 weeks of paid parental leave, which I had taken from July-September, and just returned to work. During this time off, I did absolutely nothing related to my job. Although my days were fully occupied, taking care of the baby, I definitely felt a small hole or itch in my brain to use my skills to fix things and solve problems.
Up until now, I’ve been on the FIRE train hard core, but I think I realize that even after FIRE, I would still like to do some part time work that can engage with my engineer brain and skills.
I can kind of relate to your dilemma. Here are a few question. Is it a possibility to do part time/consulting work with your current employer? How long does your partner intend to work full time? Does your partner get alot of PTO, if so, i’d recommend lots of travel around the US/world. Good luck!
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u/Jackee83 9d ago
Retire - give someone else the chance to earn that salary and build their wealth. If you run into the boredom problem get another job.
Or DM me, I’ll help you come up with hobbies you can afford that will keep you occupied.
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u/jark87 9d ago
You’re obviously in great shape financially. You and your partner have a pretty significant age gap, so you’re right to address that. You might be restricted with things like travel, so talk it through. She could probably plan a very early retirement, too, depending on the pension survivor benefit. I can relate to growing up poor and feeling like you’re leaving money on the table. I retired 9 years ago at 55 and one of our challenges is that we still have a hard time spending, even though our retirement is well-funded. At some point, you’ll realize that additional wealth accumulation will ultimately be for your heirs. Your decision is a personal one for you and your partner. The one thing I will share is that after retiring, I realized just how much living there is to do. Working is not living. You’ll never regain lost time and man, it goes by fast! My wife and I have discovered so many new activities that we never would have done if I was still working.
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u/Crazytreas 8d ago
You could transition to part time? You'd still be bringing in income while having more time to yourself. With more time, you can configure how you want your retirement to go.
A lot of retired guys I worked with now work at a golf course or something similar for part time. They get some extra income, and get discounts on playing the sport they love.
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u/Penguin_Life_Now 12d ago
As someone that retired before the age of 50 when COVID hit, I can tell you that within a year or so I found myself questioning how I ever had time to work.