Hi all, this is Gerbil Wheel. I had a bad day at work which is (finally) prompting my intro. So here goes.
I worked in consulting for several years and was laid off last summer. Loved the organization and people; no hard feelings or grudges. But it was my time to go.
I relocated to Megacorp several months ago...well paid, but realize this is not an environment where I will thrive. It is borderline unbearable!
I can't -- and don't want to -- FIRE yet, but I am contemplating a career break that may lead me on another path.
Age 42; male; single; no kids; dog
Renting out former home; $300/mo. negative cash flow; 8 years left on 15-year note (house worth $275k and $90k left on note); and my home is in pristine condition. I am currently renting where I live now.
$115 in Roth IRA; $70k in traditional IRA; $5k in 401(k) (combined, 80% equity index and 20% fixed income). Maxing out on 401(k) and IRA contributions.
I also have two small pension benefits that will pay about $600/mo. combined (in today dollars; not indexed for inflation) at age 65.
$63k in "chicken money" sitting in cash (keep telling myself I will buy equity index on dips but can't stomach losing a cent). Saving additional $1,500/mo., net of rental property negative cash flow.
Car paid for; planning to sell extraneous belongings (finally over the "stuff" phase). No consumer debts.
I am comfortable investing in stocks for the long-term. I do not contemplate taking retirement distributions or social security until I am age 65 to 67. Obviously that means I need to live on other income in the meantime.
I am thinking about leaving Megacorp within a year or three and traveling overseas, and maybe wind up teaching English or exploring other opportunities. The timing depends on my dog's lifespan - I won't leave before she passes away (dog is 8 years old now and in excellent health).
I know a career break could jeopardize my ability to re-enter my field at a later date, but right now I just don't give a hoot!
I want to continue working, but I want truly enjoyable work; more time off; see the world; etc. etc.
Oh yeah, parents are ages 75 and 74, in good health but may need me back around eventually. Me starting a family? No plans to, but never say never.
Unleash the skeptics!
Thanks, Gerbil Wheel