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Old 10-02-2013, 10:06 PM   #41
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Originally Posted by pb4uski View Post
Bingo! That is the same frustration that I felt. So in your example if each call is an hour between prep and all you will have worked a half a day and have some flexibility to do things in between, but you really don't have sufficient contiguous time off to do things you want to do - take that hike, play 9 holes of golf or whatever.

And better yet, the 8 am call gets push to 9 because some moron can't manage his schedule, and the 2pm call is cancelled 5 minutes after your friends are scheduled to tee off or some other stupid thing like that.
YESSSSS!!!! Exactly!!!! It's nice to know that I'm not alone. This is why I gave this forum a try. Thank you for understanding!

Although the total numbers of real productive work time I deliver are at one level, the degree of disruption of my life is at another altogether. Plus the things I cannot do because I'm tethered to cell phone and Internet. I find myself resenting the freedom my husband has being totally retired. To make matters worse, he is as conservative and frightened (or more so) as I am about me quitting my job so he encourages me to stay. So it's a strain. And I want more out of life at this point.
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Old 10-02-2013, 10:08 PM   #42
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Originally Posted by daylatedollarshort View Post
As others have suggested, you might find it helpful to run the numbers in a retirement planner and read up on safe withdrawal rates.

A 3% withdrawal rate from $2.5M is $75K annually, less $25K for a 1% adviser fee and subtract more for any other management fees. If there are other management fees like fund fees costing another 1%, that's another $25K, off the $75K, leaving you with $25K.
I've been running numbers for the last 5 years. Please, stop already!
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Old 10-02-2013, 10:12 PM   #43
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Old 10-02-2013, 10:18 PM   #44
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I've been running numbers for the last 5 years. Please, stop already!
I am curious then what is your safe withdrawal rate and current asset allocations, that you can generate well over $80K a year with a portfolio of $2.5M on top of adviser fees. Do tell!
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Old 10-02-2013, 10:22 PM   #45
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Oh, it was great financially. Even this year working much less hours and now working entirely from home is great on an hourly basis. That is what makes it hard to walk away. Yes, the calculators say we are fine. But, I know that if I walk away from this I couldn't really replace it if something unexpected happened. The work isn't onerous really (especially now - working solely from home), but it is more of a drag on me than anything else. That is, I always have to schedule around it and I can't mentally just turn off since I could get called upon at any time. I might work 0 hours one week and 12 the next. That is fine....but it means that I have to check email, always be available by phone, etc. There is a point where that hassle factor outweighs the admittedly nice financial benefits....
So good to hear from someone else with the same issues. No matter how understanding my husband might be, there are always situations where I'm the one who is raining on the parade because of my job. The one whose schedule dictates what is possible. The one whose last-minute unreasonable work demands curtail fun.

And please, all those trying to get me to fire my financial advisor can just drop off this thread now. Please. I promise I'll consider it, but not at this pivotal time in my life. I sense that I can get constructive assistance from this forum, but I really am not interested in changing my approach to financial management RIGHT NOW. I really will take a serious look at this in a year. Thank you in advance for no more posting about this.
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Old 10-02-2013, 10:35 PM   #46
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I haven't posted anything about firing your financial adviser since your request not to. But I am interested in your retirement calculations. Maybe you know something I don't. I wouldn't know how to generate $80K after fees on $2.5M over a 30 year retirement horizon. You stated in an earlier post you could probably do even better than $80K. I am curious how to do that.
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Old 10-02-2013, 10:37 PM   #47
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So good to hear from someone else with the same issues. No matter how understanding my husband might be, there are always situations where I'm the one who is raining on the parade because of my job. The one whose schedule dictates what is possible. The one whose last-minute unreasonable work demands curtail fun.

And please, all those trying to get me to fire my financial advisor can just drop off this thread now. Please. I promise I'll consider it, but not at this pivotal time in my life. I sense that I can get constructive assistance from this forum, but I really am not interested in changing my approach to financial management RIGHT NOW. I really will take a serious look at this in a year. Thank you in advance for no more posting about this.
CherylGrrl
I had some of the same problems. Letting go is so difficult. I have had a volunteer plan in place for a while but was waiting to execute it. When a 'package' became available, I took it. A BIG jump.
Now I am working with the volunteer gig, in adult literacy. Its tough. I am no longer a subject matter expert. Being a good reader does not make me a good tutor. Working with people who are building confidence is very different. I may not succeed at this endeavor. The good point is that my livelihood does not depend on it.
Take a chance. Pick a place to land, strap on a parachute and jump out of that perfectly good airplane.

p.s. Midday Yoga classes are fun also...leave your ego at home.
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Old 10-02-2013, 11:28 PM   #48
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Thanks Cooked!

For a year I spent 1/2 day a week volunteering at something that I really enjoyed, but the demands of this half-time job made it impossible to continue. I really miss it. I also started yoga but I have a knee and a shoulder that probably need surgery and that makes it hard! But I can still hike up a mountain and learn how to make yummy new recipes like a blue cheese-butternut squash casserole I tried tonight. And I'd like to do more of those things!
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Old 10-02-2013, 11:39 PM   #49
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I, however, retired at age 50. When I do consider the possibility of running out of money late in life, unlikely as it may be, I just figure that I'll probably have Alzheimer's by then and won't remember that I used to have it better. And in the meantime, I'm enjoying the hell out of life while I'm still young enough to appreciate it. I would regret growing old at work and then dying much more.
+1

For me FIREing is mostly about moving on and enjoying the freedom to do other things rather than leaving a career that I have mostly enjoyed.
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Old 10-03-2013, 12:37 AM   #50
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Hey Cheryl, and welcome. While I can't really help you any more than anyone else can with your OMY syndrome, I will happily support your desire to remain with your financial planner and appreciate that you find good value in your relationship.

You'll know when the BS bucket (a favorite term around here since dinosaur times) is weighted more than the OMY feeling and then it will be time to quit. But you are right, it is hard to be off on vacation when you still have to be on for work, regardless of how few hours you need to be "on".

I will certainly feel about my job the way you do, when the time comes, because it is a good one. But I think that the things I want to do while I still can will become more important than the safety aspect, or at least I hope for that kind of clarity.
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Old 10-03-2013, 01:08 AM   #51
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Welcome,

As for the financial advisor, a 34 year successful relationship is rare. She got you to a place that it seems you weren't going to get to by yourself. And, it seems she is still taking good care of you as she has found someone whom will continue to guide you. Yeah, I understand that maybe if you did it yourself you perhaps would have $3 million now--but, then again, if you had made a bunch of financial blunders early on, who knows what you might have. Nice move.
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Old 10-03-2013, 05:46 AM   #52
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Welcome aboard!

The long time advisor has performed well for you. Sounds like a good time to gather facts and make some estimates about your needs.

Are you comfortable paying in excess of 1.5 percent for the next 30 years?

Have you sought a second opinion about the current portfolio? Your advisor has done a fine job, but the next advisor may not.
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Old 10-03-2013, 12:19 PM   #53
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Hi CherylGrrl. I wish I could give you words of wisdom, but I can't. Since I was in my mid 20s I set a goal of retiring at 50. I'm pretty sure I could have done it but I totally chickened out and now have a target age of 52. They offered me an opporrunity to work from home, which has been glorious and has cut down on work stress and improved my work / life balance to a point where its acceptable. I do get a twinge of "I should have done it !" when I walk the dog in the morning and watch my neighbors getting into their golf carts, but on the whole, I think I made the right decision.

Part of me agrees with the others who have said "you'll KNOW when its time" but there is a part of me that says "no guts, no glory". Tough call and I'm rooting for you to stay with the class of 2014.
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Old 10-03-2013, 12:47 PM   #54
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Part of me agrees with the others who have said "you'll KNOW when its time" but there is a part of me that says "no guts, no glory". Tough call and I'm rooting for you to stay with the class of 2014.
This is the crux of it! There's a point where you just have to take a breath and step off the cliff! I've taken big chances before in my life with great results, but somehow this one seems different because of the irrevocability.

I told my husband last night that I wanted to set the date, and that (later on) I'd like to explore DIY portfolio management. He kind of freaked out. I shouldn't have said it all at once...
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Old 10-03-2013, 02:23 PM   #55
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Besides the OMY aspect which is semi-emotional, there is also the quantitative aspect. Have do done the analysis in Firecalc and what does it tell you about probability of success and what are your expectations in that regard? There is a nice chart here Chart of Withdrawal Rate - Success Rate - Yrs Retired
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Old 10-03-2013, 02:58 PM   #56
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Besides the OMY aspect which is semi-emotional, there is also the quantitative aspect. Have do done the analysis in Firecalc and what does it tell you about probability of success and what are your expectations in that regard? There is a nice chart here Chart of Withdrawal Rate - Success Rate - Yrs Retired
100% success in Firecalc. Have also used many other tools over the last 5 years or so. The things that worry me are the unpredictable... like Congress shutting down government, going off the debt ceiling cliff, and ruining the global economy. (Oops, I guess I should move that scenario to the "predictable" column... )

At any rate, calculators are all built on the way the stock market used to work and I'm not so confident that the next 30 years will look anything like the last 30 years or any previous 30 years. "Fasten your seat belts, it's going to be a bumpy ride" - Bette Davis as Margo Channing in "All About Eve".
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Old 10-03-2013, 04:18 PM   #57
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100% success in Firecalc.
Since Firecalc maxes out at 100%, have you tried cutting back on your inputted assets to see how little you could have and still get 100% success rate. That would give you some feel as to how much overkill you have.
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Old 10-03-2013, 10:57 PM   #58
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Since Firecalc maxes out at 100%, have you tried cutting back on your inputted assets to see how little you could have and still get 100% success rate. That would give you some feel as to how much overkill you have.
Lots of overkill as far as FIRECalc goes. I just need to cut the cord. I'm typing this while my boss goes yada, yada, yada on the phone wanting me to tell her that everything she says is right at almost 9 pm and I would really rather by curled up with DH watching Monarch of the Glen on Netflix.
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Old 10-04-2013, 04:59 AM   #59
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OP, can you experiment with just setting some firmer limits -- for yourself and your employer -- and see how that feels/works? I also struggle with not sacrificing myself to work, but I have found that when I do set limits and am very clear about my availability, people generally respect it. Maybe your area of business is different, but is your input really need 24/7, 100% of the time? Could they make do without you on a few occasions? Maybe now is a good time to experiment. Here is a suggestion. Book a weekend trip -- just 3 or 4 days, maybe leaning toward 3 to start out with -- to someplace where you will be out of phone/internet access for the entire time. Let everyone at work know you will be gone. DO NOT USE YOUR PHONE OR COMPUTER for work purposes for that entire time (might be best if you can leave them behind...). See how it feels and how the office reacted. Lather, rinse repeat, while stretching the length of the trips over time. If office freaks out, you can decide how to respond based on how YOU felt during those trips. Was it nice to be out of contact, spending time doing things with DH and giving each other your full attention? If so, and if office gives you a hard time, maybe it will be easier to say goodbye work, hello retirement. If office doesn't freak out, you have gotten more of the lifestyle you want without any major sacrifice and while still maintaining your nice gig. But you will probably find that YOU want more independence over time. You're in a fortunate position to call the shots here. And once you do, if you ever decide your nest egg isn't quite big enough, you can always start building up to an independent approach to managing your finances in the same way you weaned yourself away from work. No need to trap yourself in all or nothing thinking. Enjoy the freedom to experiment and try different things. You have earned it.
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Old 10-04-2013, 05:03 AM   #60
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PS: You have $2.5 million in assets. Those are pretty big financial shock absorbers for a bumpy ride.
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