541 days equals 18 months, or 77 weeks and 2 days. This amount of time could also be described as 13,007 hours. When keeping track of a far off date, I like to pick a number that has a ring to it. I like 18 months, but the countdown measurements are too far apart. Neither weeks or hours create round numbers. So days it is. This is my thinking behind the first part of 541 days to freedom.
Ultimately this project is about the second part of the title. Freedom from corporate work and freedom to do anything I want, (within reason and a budget, of course). This is not a decision which has been made lightly. I’ve been trying this on for size over a long period of time. I’ve been watching people around me and assessing what I can apply to my situation. The one thing that seems to be universal is the idea of freedom. Even when people absolutely love the work they do, hardly anyone would choose to stick to a schedule like 9-5 as rigidly as is expected in the corporate world.
A day had to be chosen to work towards. It feels appropriate to end this life chapter on the last Friday in June, similar timing to when grade school lets out. After 12 end-of-Junes, with Alice Cooper’s “School’s Out” ringing down the halls, I finished high school. That was a big deal, a graduation ceremony, a sit-down meal, speeches and then the after party going all night long. All the grads scattered to the wind over the summer, not to see each other again as a large group until a reunion was organized.
By the time 541 days comes to a close, 38-years will have passed since leaving my high school graduation. Having worked full-time about 89% of that time, it feels like the moment of crossing into retirement should be a celebrated milestone. Granted, not like the event we had in high school, but something. Maybe retirement parties are not so popular anymore. Very few people work their entire careers for one company. Unlike everyone moving on from high school together, people retire at different points in their careers and some do not retire at all. Or some retire away from the corporate workforce only to move directly into their own venture. Maybe a party is not the right marker for this transition. I’d like to think of a way to mark this achievement as the 541 days pass by.
Whatever comes next for me, (and I have endless ideas for how to fill my time), I do not want the financial pressure of needing to work in the corporate space. In exchange for this freedom, I will have to be careful with money. More scrutiny will be paid to the budget and expenses than in my working years. I will not have a defined pension for security and government benefits are years away from my early retirement. I think this price for freedom is a fantastic deal, which I feel very lucky to be able to take advantage of. My relationship with money will shift from saving whatever I can to structured spending.
Which brings me back to this idea of marking the time, starting 541-days out. The truth is I have been planning for some time already. I’ve watched endless hours of video lectures dolling out financial advice. Instruction as to how much money to save, investment strategies to maximize gains and then advice for how to safely draw down just the right amount over time. A treasure trove of information on the financial side has been published. It can seem and actually is conflicting, depending on who you listen to. This is too important of a topic to be summarized into 10-minute video snippets or taking advise from an author of a book. I have hired a professional and will get a detailed plan in due course. For now, the numbers ‘work’ according to my financial advisor and the detailed spreadsheets of calculations I have created.
There is only so much time you can spend going over finances and thinking that will suffice for retirement planning. Getting good information for other aspects of retirement, especially relating to my particulars, has been challenging. I’m retiring at the age of 56 and therefore don’t relate as much to the retirees a decade older than me. There is the F.I.R.E. movement, (financial independence retire early), but I’ve not totally found my tribe there either. That leaves a ream of books to wade through, looking for additional nuggets to help cobble together my plan.
I have learned that generally, retirees feel positive in the years leading up to retirement. More specifically, I want to feel a sense of freedom. I crave something to think about other than my corporate job. In the early morning mist as sleep is dissolving into the light of day, it would be nice to be present in my real life and not be trying to solve some problem from my work life. Or in the evening as the day winds down and settles in for a good night sleep, that would be a great time to practice gratitude. All the moments when I am off the clock are opportunities to be participating in the endless string of personal interests which are waiting patiently for my attention. By taking on the project of writing 541 days to freedom, I am giving my mind something else to chew on.
This is a chronicle of my journey into retirement freedom, spanning 541-days. Expect regular updates over the next 77 weeks which will cover a variety of topics relating to retirement and the planning process. We will be learning together as we go. This is not advice, especially in the realm of personal finance. Take whatever feels helpful and enjoy the ride!
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