FrugalMcDougal
Dryer sheet aficionado
- Joined
- Jun 3, 2013
- Messages
- 25
I’ve been working in an industry that I have mostly hated for 25 years. I am a soon to be 50y/o gypsy and artist at heart. Early on I realized starving artist would not look good on me. So, I chose a path I knew I would not necessarily enjoy, but that would assure me a larger income and speedier time to retirement doing the things I love- travel, art, cooking, reading... you name it. I made a switch to a different company and service line almost 2 years ago. I only needed about 4-5 years until I was FIRED. Well, that’s not going to happen. I am absolutely miserable and have worked like a dog with zero acknowledgment or reward. I’m pulling the plug early. I don’t care if that means fewer $$$ vacations, holding on to my 10yr car a few more years, or doing my own hair/nails. My own piece of mind and health are simply no longer worth the price I am paying in Corporate America. I have convinced my boss it is better I go this way with Cobra covered and 6 mo severance. In the meantime I have made a list of all the things I intend to do this summer. I have hope and excitement- the first in years! I do wake up and worry about running out of money- but I have healthcare training. Worst comes to worst, I’ll pull the plug when I run out of money (joking! I think?)
Long story short- I will have 1.3M in well diversified cash/retirement/investments. I have zero debt, no children to leave an inheritance, and my SO is in a similar position. At some point he will cover healthcare on his teachers retirement. He is currently eligible, but is working a few more years to increase his multiplier. Until I hop on his insurance, I’ll Cobra and shop Obamacare in 2020 when my income is negligent. I have stock in a company poised to sell- worth about $300k net. When home is sold and SO and I purchase a home together, I figure I’ll pull about $100k in equity out. I live to travel and experience life and with zero debt, know I can easily do that on 60k taxable annually. I’m already living on about 45k net now with plenty of wasteful spending. Healthcare is the only huge concern, and again- I guess if worst comes to worst, I’ll go back to considering pulling the plug. I have 10k in a HSA to offset some costs, and I’m currently healthy, no medications, and pretty decent genes. I’m planning to live until 95. FIRECALC and Vanguard say there is a 96% success.
The deal with the severance is I must stay out of the work place for 6 months to earn the entire sum. I will most definitely do that since no part time job I would even consider (if at all) will pay near what I had been making (~230k/yr) if you’re wondering why such a high salary and relatively low savings- this has been the last 8 yrs of higher wage earning. Most of my next egg (1m) has been feverishly saved in past 8 yrs.
Anyway, just putting this in print has been cathartic. Thanks for listening.
Peace!
Long story short- I will have 1.3M in well diversified cash/retirement/investments. I have zero debt, no children to leave an inheritance, and my SO is in a similar position. At some point he will cover healthcare on his teachers retirement. He is currently eligible, but is working a few more years to increase his multiplier. Until I hop on his insurance, I’ll Cobra and shop Obamacare in 2020 when my income is negligent. I have stock in a company poised to sell- worth about $300k net. When home is sold and SO and I purchase a home together, I figure I’ll pull about $100k in equity out. I live to travel and experience life and with zero debt, know I can easily do that on 60k taxable annually. I’m already living on about 45k net now with plenty of wasteful spending. Healthcare is the only huge concern, and again- I guess if worst comes to worst, I’ll go back to considering pulling the plug. I have 10k in a HSA to offset some costs, and I’m currently healthy, no medications, and pretty decent genes. I’m planning to live until 95. FIRECALC and Vanguard say there is a 96% success.
The deal with the severance is I must stay out of the work place for 6 months to earn the entire sum. I will most definitely do that since no part time job I would even consider (if at all) will pay near what I had been making (~230k/yr) if you’re wondering why such a high salary and relatively low savings- this has been the last 8 yrs of higher wage earning. Most of my next egg (1m) has been feverishly saved in past 8 yrs.
Anyway, just putting this in print has been cathartic. Thanks for listening.
Peace!
