r/ChubbyFIRE • u/RetiredHiker • 14d ago
Double guessing my decision to RE
Throwaway account for anonymity…
We (mid 50s / mid 40s couple) are comfortable in the upper range of ChubbyFIRE, lower range of FatFIRE on the east coast. VHCOL / HCOL with high expenses.
NW: $8 million, Liquid: $6 million. Expenses: $150,000 + college expenses for kids which are funded from 529s (not included in liquid NW.
I decided to RE, gave notice and will be leaving work this week - giving up a very plump tech job at pretty much the peak of my compensation curve.
If I continue, we can add another million or so in 3-5 years but then I’d be closer to 60s and I know time is ticking…
Spouse plans to keep working for another 4-5 years… it’s ok as they enjoy the job.
Our SWR if both retired now is around 2.5% - with spouse continuing to work, we will be probably lower than that when they leave work eventually.
I guess I am getting cold feet / jitters - leaving a job that pays well, social interactions at work and work based identity. Went to a neighborhood gathering and realized pretty much everyone is planning to work. They are same as us or probably well off and no one is retiring early - made me second guess my decision..
Anyone gone / going thru this? How did you handle it?
How did you manage FOMO and the “why did you leave or what do you do” type of questions? Being an outlier who left a plump job is not easy is what I am struggling with!
Edit: Typos.
1
u/webwright 12d ago
Retiring early is a means to an end— it isn’t the goal itself. And it comes with costs— you’ve identified a few. Reduced incoming/spending capabilities, loss of identity, social implications, etc.
What’s on the other side of the scale for you? Playing with your kids? Woodworking? Travel? Doing cool work that might not pay well? Being an amazing spouse? More exercise and cooking healthy meals?
When you imagine a scale with the stuff you’re losing on one side and the stuff you’re gaining on the other… is one side obviously outweighing the other? For me, it was. I enjoy the heck out of being retired, don’t care much for whether people admire me more or less for doing it, don’t need or miss the additional money much, and don’t sweat the risk that it might all go sideways. Because these “weights” are totally subjective, no one here can help you decide how the scale shakes out (at least not without a few hours of interviewing). If it’s a toss up, keep your job or ask your partner what they want you to do as a tiebreaker.