43- To Quit or Not to Quit- and when...

[Aerides]

Is there any way to talk your company into moving up the start date of that retirement package (i know, most big corps that stuff is in stone, but can't hurt to ask HR).

Given the kids, the future comp, and your husband's ambivalence, I'd say at least hold out and see how you feel one year from now vs. pulling the trigger now.

 

[ugeauxgirl]

I'm going to try that actually. There is a seminar at the home office for people considering the retirement package. I'll sign up for it and ask when I am there, but I'm not really hopeful. My company doesn't have much of a sense of humor. Brokers are increasingly hard to find. The process for starting them out is archaic and the job is grueling. Recent college graduates are quitting in droves- they just don't want to work 70 hours a week for the first 3-5 years of a career for little pay while they build their business. The income several years out is substantial but most don't make it that far. The average age of a broker is now over 60 and they won't want to let a young productive one go any sooner than necessary.

 

[rodi]

Aside from eating chocolate and drinking wine?

Hey - those are great sources of flavinoids - my favorite antioxidents. IMO red wine and chocolate are both health foods.

 

[Golden sunsets]

I am new to this forum- and grateful for it. Nearly everyone I mention that I'm retiring thinks I'm off my rocker. So here is the situation. I am 43, my husband is 52. We have enough to retire now- I know this because I am a financial advisor. We have 1.5 mil in securities and we spend about 60k per year. We save a LOT- 40% of our income usually. We have no debt. I had planned on retiring at 1.5 mil, my husband said he'd rather have more than that (2 mil so we can live on 3% instead of 4%), but he doesn't want to retire anyway. I don't care if he retires, he has a contract work sort of job and can accept jobs or not depending on his schedule. I bet he'll slow down when I do. We should reach 2 mil in 2-3 years, depending on the market and our normal savings. My company (where I have worked for 19 years) has come up with a retirement package that is generous- VERY generous. Its about 4 years pay for 2 years part time work. (this works out to be somewhere between 500 and 600K in today's pay, but I may make more in 4 years) But to get it I have to stay 4 more years, till my 48th birthday. I have middle school aged kids so I can't travel much anyway at the moment. My job isn't horrible, and my hours are very flexible, but its stressful. While I am great at what I do, my heart isn't in it anymore. My company which used to be a pleasure to work for has become a pain in the butt. So the upside to staying 4 years is I would not have to argue with my husband about whether we had enough money to go to Europe- by that time even with modest market returns our money would be double what we had planned. Also I'm having a hard time leaving a half million dollars on the table even though we don't need it. Any thoughts?

Ugeaux; Did you mention the cost of education for your 2children. Are those funds set aside and separate from your 1.5M?

 

[ugeauxgirl]

Yes- they both have funded 529 accounts. Not fully funded though- I want them to have to work some. The older one will probably get scholarships- i told him if he has money left in his college accounts after he gets a degree he could have it- he's already dreaming of the car he will buy. We will be retired for several years by the time younger son goes to college. We will offer him the same deal. He may qualify for assistance due to our lowered income. DH and I are already arguing about whether or not to buy them cars and when. I didn't get a car till second year of college. He got one when he turned 16- though both first cars were old beat up cars and not cool new ones. We both agree that kids are not allowed to have nicer cars than their parents which may be a cool factor problem for them. Husband has a pick up truck and I drive a Mazda6 and we do not replace them often!

 

[AndyS]

... Nearly everyone I mention that I'm retiring thinks I'm off my rocker. ...

Well get used to that. And have fun with it.

(Personally, people around the neighborhood think I'm either a spy or a drug dealer .... I don't discourage either of those false impressions)

 

[Sarah in SC]

Hey, just saw this thread, let me give you a proper welcome!

That sounds like a very good package, one I'd certainly be inclined to take, what with your travel constraints and DH wanting to keep working a bit longer on his consulting gig.

Going to the seminar sounds like a good plan, and really just trying to stick it out day to day. That's the hard part, for everyone. Some days are longer than others...

As I reach for the Godiva bar hidden in my desk drawer...

 

[Teacher Terry]

Unless I am confused they are only asking you to work p.t. for 2 years not 4 but get 4 years pay. I think you should not turn down this good deal. P.T. is so much easier then F.T.

 

[ugeauxgirl]

I do think its a good deal. I'm just not sure I can make it another 4 years. I guess I am asking opinions for what I'm really asking myself and that is how much the next 4 years of my life are worth. DH makes more than enough money to support us if I quit now- especially with the dividend income from our investments. And he doesn't want to quit now- just me. I'll probably stick it out for a bit... Its nice knowing I can quit, even if I haven't done it yet.