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1. 

   1Vikinggirl
   

   Novice
   Joined: Dec '10
   Posts: 10

   I am close to my goal and (E)RE and suddenly got a bit scared.

   My goal is to live as a student on "student money".
   I have an exact sum to use for calculations but it doesn't translate well between countries (I'm multi-country European and you are mostly US based, and costs are very different).
   I've however peaked my career at 43, never been a spender and am debt free with property. My boy-friend is already semi-working. My profession doesn't really offer that but there are other ways for additional income.

   Currently I have 17,7 years saved in different forms (non-interest based) calculated on easy life, and over 30 years for reduced needs or a bit of additional income. All calculations indicate it will/could last forever (see Jacob's post Day 10 Calculating net worth).

   Suddenly I got cold feet... Taking the plunge, going out, stepping off...

   Anybody else with experiences of the last years before the 'out' to share?

   Posted 1 year ago #
2. 

   Freedom_2018
   

   Journeyman
   Joined: Dec '10
   Posts: 175

   I bet there are a million data points you can look at and redo your analysis over and over to make sure you are covered. However sometimes it is more than just about the data:

   Check this link @ 48:18 (actually all of it is very worth listening to I think) for how one particular entrepreneur thinks about risk.
   http://www.youtube.com/watch?v=gtHZUr3mdlY&feature=related

   I am not there yet in terms of 'retirement' but for me it is about the numbers as well as the 'value' of remaining time left on this planet.

   Posted 1 year ago #
3. 

   Neil Imrie
   

   Novice
   Joined: May '11
   Posts: 11

   Cold Feet? Tell me about it...I know exactly how you're feeling. I'm at the same point as you , it feels like you're about to take your first parachute jump. You've done all your training and done all the safety checks over and over but it's all so damn scary when you're standing at the airplane door with the wind whistling by and nothing below you .......
   Good luck, but I sure don't know the answer.

   Posted 1 year ago #
4. 

   jacob
   

   Expert
   Joined: Jul '10
   Posts: 3,295

   I sent in my resignation right before the market bottomed in 2009. For the first year or so I did some editing for a few hours each week which covered my expenses. This allowed me to rearrange my finances for cash flow and observe that dividends really do appear in the account every month like magic. I'd recommend setting up your cash streams ASAP and do a dry run for a year or so, only living on your investment income, and setting all other income aside.

   Posted 1 year ago #
5. 

   learning
   

   Apprentice
   Joined: May '11
   Posts: 72

   Having the actual experience of receiving enough periodic passive income to pay my expenses also is having the psychological effect on me of, I can trust this not working thing. It's also a process for me that is taking place over time (can I really, really trust it for a long, long time?).

   I go back and forth between feeling afraid and feeling free.

   Posted 1 year ago #
6. 

   A Brit
   

   Novice
   Joined: Sep '10
   Posts: 26

   You're not alone with the cold feet.

   It's not the money I lack for ER; it's the cojones.

   I'm two months into a dry run (ie living off just the investment income) but I don't think a year's paper exercise will actually prove anything. As with running imaginary share portfolios, paper just doesn't work.

   Posted 1 year ago #
7. 

   1Vikinggirl
   

   Novice
   Joined: Dec '10
   Posts: 10

   @ Jacob - Cash streams out under control, cash streams in stable and growing.

   @ A brit, Neil etc - Glad to hear I'm not the only one without cojones here... :)

   @ Learning - I think you have a point; there is no safety in living outside security. And there is no such thing as 'never working again'.
   A part time project would be nice to carry over the first year, good idea. Could also help adjust from "I am my title" to "I am me"; harder than I thought it would be.

   Posted 1 year ago #
8. 

   fancyfree
   

   Novice
   Joined: Jul '11
   Posts: 20

   we were stalling on official RE when our business suffered a setback and pushed us into the water whether we were ready or not. turned out we had more than enough, but we probably would have stalled and stalled, nervous to pull that trigger. looking back, we're so glad the decision was made for us. we would have kept working and saving extra $ that we didn't need. the extra years of freedom we got have been worth *so* much more.

   Posted 1 year ago #
9. 

   1Vikinggirl
   

   Novice
   Joined: Dec '10
   Posts: 10

   @ Fancyfree - An extremely good advice taken and acted on! Thanks!!

   Posted 1 year ago #

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