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Old 06-09-2016, 03:10 PM   #21
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It's complicated, but our dad retired and we technically started up a new business using his business model and relationships. The $120k represents my distributions from the family business. My job pays me about $200k/year in salary and benefits. That is what I would be walking away from.
It's $120k in distributions today...but what will they be after a couple years of your siblings running the business, especially since you stated that they have very little experience and that your brother smokes pot daily? How many customers/clients that did business with your father did business because of him, and now that he is no longer there, they don't have the same sense of loyalty and will take their business elsewhere? How many other clients will be lost as time goes on due to the inexperience of your siblings? One poor decision made by an inexperienced owner can have devastating effect and destroy a business.
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Old 06-10-2016, 12:04 AM   #22
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@ivinsfan: Yes, I applied on Monday, scheduled interview on Tuesday, and was offered the job on the spot on Wednesday. It all happened very fast. $200k in my original post was high. Tough to put a dollar on the benefits, but the salary/profit sharing/401k match at my current job total about $175k. The new job has a base of $60,800. I don't really know how to value the pension.

@Everclrx: I would love for them to buy me out. But I am not sure how they would do it. They could not qualify for a loan and would have to pay me with their distributions. My commute would be very similar to yours. It is currently three hours round trip. The new job is five minutes from my house. I would love to come home and eat with my family for lunch or be more active with a full evening at home.

@Aaronc: My house is currently worth about $220k. A comparable house within thirty minutes of my work would cost $750k. And the schools are not great, so I would also have to pay for private school.

Music Lover: I agree it is incredibly risky. At this point, I am going to take the new job. But I am doing it realizing that the business income may dry up. That would delay ER, but still be manageable for me.





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Old 06-13-2016, 04:03 PM   #23
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My commute would be very similar to yours. It is currently three hours round trip. The new job is five minutes from my house. I would love to come home and eat with my family for lunch or be more active with a full evening at home.
I can attest from my own experience that this is worth so much more than any spreadsheet or calculation can quantify. You'll never get those years back... or your youth, to enjoy that extra 2.5 hours a day. Time is the one thing we all lose indiscriminately. So much of happiness in life is learning to use it as wisely as possible, so we hold no regrets about the choices we made in our past; how we chose to utilize those seconds, minutes, hours each day.

Best of luck to you!
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Old 09-15-2016, 04:30 PM   #24
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I can attest from my own experience that this is worth so much more than any spreadsheet or calculation can quantify. You'll never get those years back... or your youth, to enjoy that extra 2.5 hours a day. Time is the one thing we all lose indiscriminately. So much of happiness in life is learning to use it as wisely as possible, so we hold no regrets about the choices we made in our past; how we chose to utilize those seconds, minutes, hours each day.

Best of luck to you!
Update: I am about two and a half months into the new government gig and have not had a single moment of regret. Quitting my high paying job had the potential to be one of the best decisions or one of the worst of my life, and it has turned out to be a great decision so far. The work is more meaningful than what I was doing for a mega corp. Getting home at 5:15 versus 6:30-6:45 everyday has made a huge difference on my quality time spent with my DW and kiddos.

One unexpected result of taking the new gig is that I have not been as hard core about ER as I was before. I used to read this forum multiple times a day. Now I read it once a week, if that. My desire to retire in my 30s seems to have been a product of the really bad work environment and commute that I had. Now I am shooting for 40 when my government pension will be fully vested.

The family business is still rocking along and paying me about $10,000/month (before taxes). I am urging my siblings to hire someone to run and grow it for the three of us. Net worth (including house) has grown to 1.05M.

Thank you all that responded to my original post and helped me think through this decision.
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Old 09-15-2016, 05:22 PM   #25
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Congrats- I'm glad you're enjoying your life more. You're really not far from FIRE at all considering your spending level- Best of luck and keep us posted.
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Old 09-16-2016, 10:04 AM   #26
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Congrats, glad the new job has made such a positive difference.
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Old 09-16-2016, 10:18 AM   #27
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Age 32--should I spend my FU money?

Congrats. I am somewhat envious of you being able to walk away from your high paying job for something closer. I have dreadfully long commutes (usually 2.5 to 3 hours a day in total commute), but one year I was assigned to a project with a 15 minute commute. I felt like I was on vacation for that entire year....and I just looked it up...I worked 450 hours of overtime that year.

I often wonder if I too wouldn't be so hell bent on RE if I had a job with no commute and less stress. But right now I see the light at the end of the tunnel (albeit a long tunnel) so I forge ahead.
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Old 09-16-2016, 11:08 AM   #28
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The family business is still rocking along and paying me about $10,000/month (before taxes).
The way I see it, you increased your salary unless I've missed something. Now you earn $61k at your gov't job plus you get $120k from your/siblings firm vs. $170k (per your updated post) when you worked for/with your siblings. Plus you'll potentially earn a pension and you've got much better work hours. Congrats!
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Old 09-16-2016, 04:00 PM   #29
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No, but I'd get a plan together to make myself happier, such as
1) Have my siblings buy me out of the business and end that headache. Partnerships rarely work out, and family dynamics make them even harder.
2) Put my legal and business smarts on the job market to find something closer to home with normal hours, like college administration, non-profit or government post.

If you are living on less than $50k/year, you can surely support yourself with a lower paying but more balanced job until your assets catch up and generate what you need, possibly only $1,250,000 or so plus some part time work. Good luck!
My thoughts as well.

Someone mentioned a Govt legal job. If this is correct you need to adjust your manager's expectations. It isn't as if you are on partner track in a law firm.
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Old 09-16-2016, 05:29 PM   #30
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Aida: you missed something. His old job paid about 175k with benefits vs 60 now. He was still getting the 110k from the business his sibs run.
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Old 09-16-2016, 06:31 PM   #31
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Update: I am about two and a half months into the new government gig and have not had a single moment of regret. Quitting my high paying job had the potential to be one of the best decisions or one of the worst of my life, and it has turned out to be a great decision so far. The work is more meaningful than what I was doing for a mega corp. Getting home at 5:15 versus 6:30-6:45 everyday has made a huge difference on my quality time spent with my DW and kiddos.

One unexpected result of taking the new gig is that I have not been as hard core about ER as I was before. I used to read this forum multiple times a day. Now I read it once a week, if that. My desire to retire in my 30s seems to have been a product of the really bad work environment and commute that I had. Now I am shooting for 40 when my government pension will be fully vested.

The family business is still rocking along and paying me about $10,000/month (before taxes). I am urging my siblings to hire someone to run and grow it for the three of us. Net worth (including house) has grown to 1.05M.

Thank you all that responded to my original post and helped me think through this decision.
Congrats on the new job & increased "happy life" quotient! Perhaps you should change your avatar name to match it.

I did always wonder though, what kind of govt job enables you to vest for a pension in only 8 yrs of work?
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Old 09-17-2016, 03:34 PM   #32
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Some states only require 5 years to be vested.
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