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Old 03-29-2016, 08:56 AM   #21
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So now that you find that you have "enough" to quit working, try a little different approach.

That 10K in pension money is tied to the many years of hard work you have done. Try a spreadsheet that includes all the holidays, all your vacation days, any sick leave you might have access to. What's your companies position on unpaid time off? Do you have any lingering health issues that might need attention and keep you away from work? Now you know how many days you need to work to collect that money.

Perhaps you can plan a long vacation saying you are burnt out and considering retiring..you might either get a package or people might back off a little so you have some breathing room.

I see you have been the higher earner in the family, perhaps you have one of those jobs that is on your mind 24/7, in that case just do what you need to do for yourself.

People might tell you to just turn on the "who cares" attitude for 9 months, but some people just aren't built to do that.
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Old 03-29-2016, 09:10 AM   #22
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I assume taxes and RMD are calculated in your plans. That said, it seems you are fine, so go for it- and ask your self this: If one of you found out you were terminally ill, would you still have wanted to work for the next year? Have a great retirement!
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Old 03-29-2016, 09:11 AM   #23
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Based on your inputs, I don't believe this is a financial decision. Although I see the lure of using your finances as a crux for what is basically an emotional life event. Bottom line is you are surely financially positioned to retire. Question is, are you willing to sell your time and sanity for another 8-9 months just to pad your nest.

For what it's worth, my advice is to give your DH a peck on the check and tell him you're pulling the plug. Then take him out for a nice dinner to celebrate.

Best of Luck and welcome to the active poster side of the house.
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Old 03-29-2016, 09:16 AM   #24
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I negotiated to work 1 day less for 20% less pay. That's how I managed to survive. Sure $5k is peanuts to me, but I've put up with them 4 years and I didn't want to let them win.


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Old 03-29-2016, 09:19 AM   #25
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I believe these 6 income streams would be more than enough to pay for our needs from age 70+.

In addition, we have about $2.5M in taxable and tax-deferred investments and a $500k paid off house that we will sell to move somewhere lower cost.
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The SS amounts depend on whether we are talking today's dollars or future dollars. I tried to give approximate amounts as of age 70. FA came up with something higher, as did I when going through the benefit formula. I generally use something much lower in my retirement spreadsheet (extra cushion, you know!) Mine will probably be close to maximum, DH, maybe 80% of that.
Welcome to the forum, DustyMom.

Reading through your posts it is not clear if you are using actual current numbers, a projection of future values, or a combination of both. I would suggest you stick to actual current values for income and expenses, and let the online tools, such as FIRECalc, project into the future. Comparing your income stream to your expenses is not something you should have to guess at, a tool like FIRECalc should give you a pretty precise view.

Have you run the numbers through FIRECalc just looking at how the plan holds up with only one of you?
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Old 03-29-2016, 09:20 AM   #26
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For that much income, I would stick around and leave at 55. Even nine months will fly by if you back away emotionally from the job now. Take those vacation days if you are not paid for them when you leave and be sure to use up all that sick leave for your mental health. If you have a lot of vacation, use it up at the end to shorten the time left. Show up, do what is required, and smile a lot. It's amazing what a little detachment can do for your attitude.
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Old 03-29-2016, 09:51 AM   #27
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That 10K in pension money is tied to the many years of hard work you have done. Try a spreadsheet that includes all the holidays, all your vacation days, any sick leave you might have access to. What's your companies position on unpaid time off? Do you have any lingering health issues that might need attention and keep you away from work? Now you know how many days you need to work to collect that money.

Perhaps you can plan a long vacation saying you are burnt out and considering retiring..you might either get a package or people might back off a little so you have some breathing room.
$10,000 annually for 9 months of work is a lot to give up, even if one doesn't need the money.

In addition to taking as much time off as possible, they could ease the stress by doing the minimum required and by tuning out the BS. Knowing the end is near should make it a lot easier to go through the motions and not care.
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Old 03-29-2016, 03:30 PM   #28
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You don't need the $ and are sick of working so go. Enjoy)
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Old 03-29-2016, 04:38 PM   #29
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I gave notice in September 2014 and left July 1, 2015. Those 9 months were alternating hell and boredom. I stayed for a lump sum of $45k. That was worth it for me because that was the last of the cash I needed to cover expenses until 2017. I am no where near your $$ in assets and my spending is somewhat lower. If I had the $$ you did, I would have walked away with 2 weeks notice and not looked back. This is a decision that is personal and not financial.
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Old 03-29-2016, 04:47 PM   #30
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Worrying about what you are leaving on the table instead of what you will receive can lead to the one more year syndrome. Focus on having all you need, not on getting as much as you can. Just my opinion.
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Old 03-29-2016, 04:53 PM   #31
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Nanosour, I think your response resonated most for me. You are right, this is not a financial decision for me. I could care less about the extra $10,000 because I have felt for at least a couple of years now that we are overfunded for the lifestyle we choose to lead. My biggest fear is that I'm going to be 80 years old, not in the best of health, looking at a pile of money in the bank and thinking... "Why didn't we retire 5 years earlier?"

My wonderful DH has allowed me to handle everything finance-related since before we were married because I enjoy it and he hates it. He has his own areas of strength and interests that I don't share and am happy to leave to him. Because I spend hours pouring over my retirement spreadsheet it seems obvious to me that we don't need that $10k, but he doesn't have the same relationship with the details, sees a reduction in what was planned and fears we will be living on cat food.

He's been reading posts on this forum, asking questions and getting a more fleshed out perspective on retirement, including non- financial considerations. He is at least 90% on-board now - maybe a little residual fear, but supportive. I have all of you to thank for offering so many points of view. We will continue to discuss all the little details but I believe I will pull the trigger in the next couple of months. I imagine I will be posting more once I get back those 12 hours a day that are making me so miserable!
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Old 03-29-2016, 05:14 PM   #32
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Good for you, DustyMom! Hope we can help you two figure out a date that works for both of you - hopefully sooner rather than later!
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Old 03-29-2016, 05:35 PM   #33
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Good for you, DustyMom! Hope we can help you two figure out a date that works for both of you - hopefully sooner rather than later!
Yes the longer you wait the closer that pension money is, so it just get more complicated.
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Old 03-29-2016, 05:39 PM   #34
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If you end up needing more money you could probably find a hobby job to make up the extra $10K a year that might even be something you enjoyed or found rewarding.

I think a few years back, if it were me in your shoes, I would have toughed it out for the extra money. But these days, knowing what we know now, and how many people we know who have gotten ill or passed away without enjoying much if any retirement, with your retirement income and assets I'd probably pick the time freedom over the extra money.
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Old 03-29-2016, 08:59 PM   #35
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Is there any way there could be an FMLA leave in your future? Many companies have very lenient FMLA policies.

So, a few FMLA months, a month back in the office, and you're 55 and you get the bigger pension.

An aging parent who needs care, perhaps? Just trying to think outside the box. If there's a system, you might as well work it.
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Old 03-29-2016, 09:10 PM   #36
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You guys are the best!

Maybe between all your responses and my Powerpoint presentation my husband can get comfortable. Sheeesh! I really need to leave the corporate world. <snip>
I think you're kidding (!) but believe it or not, a while back I recall reading a post in one of these forums by someone who actually did put together a powerpoint presentation to persuade their reluctant spouse (can't remember now if it was husband or wife) that they had enough to take the leap. If I recall correctly, Firecalc figured prominently in the slides.

Good luck, and here's hoping you and your hubby are soon 100% on the same page.
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Old 03-30-2016, 05:01 AM   #37
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Heh, heh, heh.

Yes, Calico I was kidding. That was a jab at my workplace where no communication can take place without a Powerpoint deck. One of many reasons I am desperate to leave.

We did sit down and go through Firecalc together though.

We seem to be on the same page now..... believing it will work but still a little nervous about leaving the accumulation phase. Normal, I guess.

I just entered myself into the Class of 2016 thread!
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Old 03-30-2016, 12:39 PM   #38
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You look to be covered financially. It really comes down to a judgement call, you are quite unhappy at w*rk, and maybe it is time.
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Old 03-30-2016, 12:58 PM   #39
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From the manner in which you have explained your situation, put you job in the rear view mirror and enjoy the fruits of your labor!! Congratulations!!
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Old 03-31-2016, 12:23 AM   #40
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Heh, heh, heh.

Yes, Calico I was kidding. That was a jab at my workplace where no communication can take place without a Powerpoint deck. One of many reasons I am desperate to leave.

We did sit down and go through Firecalc together though.

We seem to be on the same page now..... believing it will work but still a little nervous about leaving the accumulation phase. Normal, I guess.

I just entered myself into the Class of 2016 thread!
I too work in the Land of Perpetual Powerpoint. {sigh}

Great to hear you are both on the same page now.
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