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Thank you all for your replies and thoughts.

Ms. gamboolgal knows how tired I am of being oversea's and she is fine if I pull the plug tomorrow.

We go to Texas for a month off in about 2 weeks. We'll be talking about it and she has me lined up with all the quacks to get checked out physically, vision, the old borescope, dentist, even the hearing doctor as she says I am hard of hearing....ha

We are in a wonderful spot to have this "problem" - I think I know the right thing to do but to be honest it's abit scary and daunting to go from making very good money to living off investments... Like I said - wonderful problem to have.

Really appreciate the feedback and we'll keep yawl updated. And please any more words of advice is welcomed.

This one was taken right outside the compound in Port Harcourt. Miraculously no one was killed. This happens fairly regular here as roads are rough goat trails and trailer loads are not secured....

Life's a Dance and You Learn As You Go.....

gamboolman....
I was in the same position. High salary and 25% of the profits as long as I stayed with the company. I still walked away despite my trepidations. If you downsize you will be amazed how little you really need. I bought expensive toys and did things simply because I could afford to, but those things are not really needed. My $300 watch tells time better than my $5000 watch. My Honda CR-V gets me to where I want to go in comfort the same as my BMW. I no longer need to buy expensive suits and shoes. No more private clubs, limos and 4 trips a year to Vegas.

I have about 4 years salary saved and as you know, a history of high salaries means higher social security payments. With my SS and 401K I will do just fine plus that have most of my inheritance in CDs and high yield bank accounts for large purchases or emergencies. I have not had to invest in the stock market other than about $30K just for fun and something to follow daily. When the next recession comes I am going to buy up as much stock as I can and since time is on my side, wait for it to grow so that I will have a lot more in my 80's.

I lived in Houston. I liked Texas. Humidity is about the same as here in Florida. I have family here which is why we are here and not in Texas.
 

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Texican, I don't know the oil industry but some people work part time or work vacation time for others after they retire. Like one poster said, it things are paid off, living expenses can be reduced by not buying expensive toys.

One of my neighbors a long time ago did well reworking (getting low production wells to produce more crude) in Nigeria. He said the bribes and pay-offs in Nigeria, made working not worth working. He sold is house inn my neighborhood and moved to a remote town where he grew up, that was much cheaper to live in.
 

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Discussion Starter #23
Update - still in lockdown...

TDL - your spot on pawdnaahhhh....Tyler and Whitehouse....

Thanks for all of the replies and advice...it really helps Ms. gamboolgal and I to discuss the trail ahead and the forks to take.

When we get to Texas and I get all the quack visits done to see where we stand in that regards....we'll head back to the Dark Continent to finish out this year. Depending on what they say, could make decision easy...

They's many aslip betwinxt the lip and the cup...

Handy, your neighbor was telling you the truth. Corruption, killing and shiite that folks in USA can't comprehend....dam shame as this continent is so rich in resources and potential.....I digress.

Summary - Go in to Texas in Aug/Sep - see the inlaws & outlaws, the kids, the quacks, lots of gambooling on the pokerzzzz table, cooking out on the patio eating some good meat vs the local bush meat...and chasing Ms. gamboolgal around the hotels nekid.....

Evaluate early 2019 date vs end of 2019 target date to pull the plug.

Great spot to be in and we know we are fortunate to have this "choice".

Thanks to all for the replies. We'll update and let yawl know.

Lifes A Dance And You Learn As You Go

gamboolman....
 

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You don't know what is around any corner for you or your wife. Right now you are both healthy and really don't need the extra money. Enjoy life!! We are not promised a tomorrow. we make plans and God laughs

You can always make money, You can never buy time.........................
 

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My general 2 cents.

I am waiting until retirement at age 70 to maximize Social Security and retirement income. Everyone is different. I still like what I do for a living and am pretty good at it. Not physically demanding. I have cut back my hours, but still not ready to pull the plug. Once you start thinking about retiring, you will get short timers disease and be hard pressed not to quite, from what I have seen in others.

What ever you do............have a plan that you share with your wife in advance and she is on board with. Plan on doing lots of stuff that the both of you want to do after you retire. That will require simplifying your life and bill paying systems. I have been planning for retirement for nearly 10 years and it is hard work. The financial part was easy, the efficient tax strategy was not, it was all the other things that are complex and especially figuring out the relationship issues.

Good luck.
 

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Texican, I'm, a good bit older than you and seen a number of coworkers, friends, relatives, neighbors, et cetera hold out to maximize their retirement only to kick the bucket a few years later. Conventional wisdom sez you need to work as long as you can to garner every penny you can for retirement. In my 40's I figured that out to be horse shyt except for these cats that were in their 50's and had < $5k in total retirement funds ( which is a large % of the population but not me ). I hung up my tool belt, actually my brief case, at 58. Everyday since has been a holiday.
Of all the people who lost their spouse and are the one left behind, few will ever say, " I wish I'd worked longer and spent less time with her/him enjoying our retirement"
 

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Discussion Starter #28
Thanks Vlad and all of the posters. Good points and things to think about.

I just got back from Texas and a month of getting tested for Prostate Cancer...PSA was up, had Needle Biopsy done and the results were No Cancer - Thank God.

I have enlarged prostate, (BHP), and will be monitored closely from now on.

Wife and I did alot of talking and we are planning to retire end of next year at latest. We met with lawyers to review our Wills and legal documents, did some portfolio Asset Allocation tune ups, and making a "To Do" list to be ready to retire.

This experience has emphasized and made very clear what so many of yawl have been saying.

Thanks for the feedback and thoughts.
 

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Discussion Starter #30 (Edited)
Feb 2019 Update............Still in Nigeria, planning to retire on 1-Jun-20. But can go anytime from right now if they piss me and ms. gamboolgal off enough.....

Financially, it makes sense to go as detailed above - but we can go today if circumstances are such that we have had enough...... I will admit it is unique feeling that one can only experience when one is Financially Independent after a lifetime of hard work.....

Thanks to all for their advice......we'll keep yawl posted !


Can't wait to be chasing Ms. gamboolgal around the homestead....nekid.....

 

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I faced the same dilemma a few years ago. I could stay 3 more years and earn $1000+ more a month or retire early for less. In the end I chose the time over the money, since you never know how much time you will have left. I just had an ex co-worker who stayed till the bitter end who was just diagnosed with advanced liver and brain cancer (you never know!). He has only been retired for around 8 months. I am very happy that I made the decision I did. My wife and I have enjoyed every day we have been able to get up when we want and do whatever the hell we want. Those few years I would never have been able to get back if I had stayed. You will get used to less money as long as you have enough to live on (which does not sound like an issue for you). My advice is to retire and never look back. Enjoy the time you have left on your own terms!
 

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I suspect that by now you have made your decision (maybe you announced it in a post already, I didn't read them all). Anyway, here's my two cents:

You clearly have a better grasp on managing money/financial planning than at least 75% of the country. You've planned well and are prepared for a future you've thought about. You don't need the money, you really seem bothered about leaving some on the table. If you are good at poker apply the same decision making to this that you do at the poker table. Clarify your hand, assess the pot and weigh your choices then decide.

Also consult your wife and see what she wants...and...don't plan on being satisfied with a retirement of complete leisure. You sound like someone who values work (I didn't say that you like it, just value it) and that might translate to a difficult time in a completely unfocused retirement. Start looking into things you might enjoy that give back. As you say you and W are making a decision most people would love having to make. Lots of people lack your skill sets in getting to where you two are today (by 'your' skill sets I include your wife's). That covers the financial wisdom, work skills and relationship skills that allowed you both to survive and thrive. You may find additional fulfillment in giving back in whatever way you find open to you (part time teaching in a trade school, volunteer counseling/advising, etc.) this may be individually or together.

You've earned retirement, enjoy it fully.
 

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Discussion Starter #33 (Edited)
gts & hpt

Thank you both for the recent comments. Very good and abit deep and thought provoking, good stuff as I really do appreciate others "cold eyes" perspectives. You are so right about ms gamboolgal and how she has been the only reason I have been able to work as permanent resident overseas for pushing 17 year now. Only because she has been with me.

We are home in Texas now on vacation. Been going to all the quacks to get checked out - PSA/Prostate was good, had the borescope up the butt and all good, cholesterol is all back to within normal. Same for Ms. gamboolgal...so we are in about as good as shape as can be to be ready to go to pasture.

We are pretty sure that we'll retire effective 1-Jan-20. If we do work over then I can't see going past 1-Jun-20.

Yawl are right and I don't disagree that we can go now and be very comfortable. I reckon it is just the fear of not making a check after over 41 years of working in the oilpatch - Running too many 3rd & 4th order failure anlayses and preparing for Black Swan events....all result in Paralysis by Analysis.....ha....

We have been looking at Lake Front properties as we think we want to sell out here in The Woodlands and live on a lake. But there is time for that when we are home and retired - so we can look and look and be sure.

I cancelled going to Vegas this month to play in the Seniors....no good reason really.....I do think that next June we'll be in Vegas and I will play both the Seniors and the Super Seniors tournaments. Will be a first for me to play in the WSOP and ought to be fun.

We go back to Nigeria on 2-Jul-19 and if we are going at years end - I will have to let the bosses know by late Sep at the latest.

Thanks to all for the comments, advice and making us consider things from different perspectives. We know we are blessed to be struggling with this wonderful "problem" !

Will update accordingly.

Lifes A Dance And You Learn As You Go

gamboolman & ms gamboolgal...

 

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Do what I did. Move out the woodlands to Bentwater. The cost was actually cheaper. I've been on the international gig for longer than I like as well. You name it... I've been there. Retire now. God bless Texas
 

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Retire if you can afford to. My mother only had two good years after retiring before getting Alzheimer’s and it’s so sad. I wish she had retired 5 years earlier.
 

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Don't hesitate, retire tomorrow! I retired a year ago at age 57, sorry I had to waste so many years working!

As long as you can avoid having to live in a cardboard box I say go for it.
 

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However by just putting up with the work requirements for 18 more months, really 14 months due to vacation we will net after tax about + $1,500 net more bring home monies per Month by staying to Target date vs going to Texas today.
This is all Inflation adjusted at rate of 3% per year....

Really struggling here...the extra $$ would be contingency if need be and most likely would be fully discretionary fun $$.
Let me ask you this:

1. How do you feel in your gut when you get up to go to work in the morning? Do you dread it, or do you not mind it?

2. Are you working in Nigeria right now? I assume your wife is there with you. Do you have quality time together around work hours? Is she happy?

3. You have some great vacations planned. MARCH MADNESS! GO AZTECS!!! (Sorry, I digress). But around those trips are there life events you're missing out on that are important to you and Mrs. Gamboooolaaah? Like weddings, births, graduations, family reunions? etc?

4. Are you the kind of people who will proactively make good use of the free time and really relish your extra time together? Or are you more routine people where you might actually be bored without work to fill in the blanks between vacations? Some people actually get really depressed once they retire.

A lot to think about. $1,500 a month is nothing to sneeze at. But then neither is an extra year and a half of memories.
 

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Discussion Starter #40 (Edited)
Texican back.

Thanks again for the replies from all. Very thought provoking and being honest - yawl have really given ms. gamboolgal and I a lot to talk about and to help us get thru until the end of this year.

We are retiring end of this year. Have one more 1 month vacation between now and then - we are planning on going on a extended road trip from Miami back to Spring and doing lots of visiting with friends and kids. We both enjoy being on the road after being confined to a compound for months at at time. You do become somewhat "institutionalized" as every day is the ole groundhog day.

Work in Nigeria is hard. I could not have made it as a permanent resident it without ms. gamboolgal being with me full-time the last 12 here's over here.

Will the money gained by hanging tuff until now - be worth it? Honestly - I'm not sure as the stress here is unreal. It truly is 7 days per week and with the smart phones and pooters, there is no time to destress.

But we have just about done it now and are so looking forward to end of Dec when we depart Lagos for the last time.

Sincere thanks to all the posters - can't say that enough. Some of the comments really stung abit and were spot on - just what I needed.

ETA - What FrazzledSadHusb.....said..... I am quick to tell anyone right quick now how the cow ate the cabbage - it is a good feeling as there is absolutely nothing can be done. ha

We'll keep yawl updated....
Texican and ms gamboolgal
Lifes A Dance And You Learn As You Go....

 
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