Pulled The Trigger

[Nomad]

For those who've pulled the trigger - especially in the UK.
How old were you and how much net worth did you have accumulated?

[chenda]

I semi-retired/went part time at 33, net worth £225 000 in flat I live plus £15 000 cash savings.

[Fiddle]

I stopped working fulltime when I was 35yrs old. I had a house paid off and about 40k in savings. Since then I've taken a variety of part time and seasonal roles with a lot of time off.

[Bankai]

Fantastic to see someone going against the trend and actually pulling the trigger before having over 9000 years in expenses! Honestly, you'll be fine. The UK is cheap to live in and your stash should generate around minimum wage per month. Considering how many millions of people manage perfectly fine on that, I don't see why you wouldn't, especially since you have an advantage of an ERE mindset. Also, state pension in a decade and a half won't hurt either.

As to your question - we are still in the accumulation phase but the plan is to quit at £200-£250k each.

[classical_Liberal]

I went part time last year (2019) with about USD$310K, or 16 years of my living expenses at that time. I rent, no real estate. I'm 43 and expect US Social Security somewhere in my 60's to provide 1-2K per month, depending on future solvency.

[steveo73]

Fantastic to see someone going against the trend and actually pulling the trigger before having over 9000 years in expenses!
....
As to your question - we are still in the accumulation phase but the plan is to quit at £200-£250k each.

I'm looking to retire in a little over 3 years. I feel we are saving up too much but we will have a paid off house plus about 700k pounds between the two of us however we have 3 kids. Hopefully 2 of our kids are not dependent on us at that point. Our WR will be 5% but we have some buffer in our expenses, we can downsize our house plus we should get either inheritance or social security.

I think we could go part time now but I don't really want to go part time. I want to quit. I suppose I'm ready for a big life change.

[Nomad]

Well, trigger pulled.
Aged 52 and NW £350K.

[ertyu]

Congrats!

[mooretrees]

Exciting!!!!

[Nomad]

@all
Thanks guys. Looking forward to the Spring and Summer.

[Bankai]

Good job! What are your immediate plans for first few months of freedom? Also, was there anything in particular that made you reassess and bring forward the date?

[ToFI]

36 years old when I quit. The unhappy work environment forced me to quit: 330k CAD invested in high quality stocks, 200k CAD house, 150K mortgage. Living expense: 10K CAD per year.

[Nomad]

@bankai
I plan on going to the gym a lot and getting in really good shape. Also, I'm hoping to go to a lot of music festivals in the Summer.
There are a ton of things around the house I need to attend to - and now I will have the time.
Yes, I had some nonsense in the workplace and finding myself in possession of FU money, decided to quit now.

@ToFI
Good for you, your living expense is incredibly low.

[2Birds1Stone]

I(33) stopped working in October of 2019, and my wife(29) is done in 2 weeks.

USA based, but net worth ~540k Pound sterling. We expect to continue some sort of part time work in the future, mainly to expand our social network and help mitigate the risks of inflation.

Congrats on pulling the trigger! It's a wonderful feeling.

[vanishingpoint76]

I stopped working full time when I was 35 in 2012. My wife, 2 kids and I moved to a cheaper (real estate) part of the country (Canada) and were able to buy the house we currently live in outright. Our current net worth is about $350k pound sterling. We (obviously) carry no debt.

I've been working part-time since then for my former employer. My wife is working for the school board out here. She mainly does it for the social aspect and gets a lot of satisfaction from working with the kids. I expect my part time work hours to be cut down to very little in the next 12 months but we don't anticipate this will have a huge effect on our overall situation.