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Old 12-16-2007, 09:50 PM   #21
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No way to diversify until I quit...
Welcome to the forum.

Based on the fact that you have $2M tied up in your company's stock, I recommend you quit and get another job --- NOW.

I personally know people who were in a similar situation and lost almost all of it when the company stock dropped permanently. They had been millionaires -- on paper.

As others have observed, you are taking a huge financial risk. I would leave now and get another job without hesitation.
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Old 12-17-2007, 05:44 AM   #22
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If I were in your shoes, I would diversify at the first opportunity. Your $2mm could turn into $4mm or it could turn into $500k in a very short period of time.

DW was in a similar situation in an ESOP and saw the price cut in half in a matter of a couple of weeks. And the company is a very very strong company (household name). Her plan did not allow her to diversify without consequences (I will not describe here).

Her stock has come back... but it took over 7 years to equal what it did when it tanked.

Of course, the ESOP may limit your investment options.

Much of the information about your situation is not available. IS the company a startup, has the price run up in the last few years.... Depending on the overall situation I might consider quiting just to cash out of the company stock. Even if I were looking for a job the next day.
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Old 12-17-2007, 07:35 AM   #23
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Can you quit, take the $$ and reinvest/diversity and then consider returning in 3-6 months to rebuild for another year? You may find you are so glad to be gone you don't want to go back, but if you are as valuable as you indicate, there could be another path.
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Old 12-17-2007, 10:37 AM   #24
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You can buy a lot of toys for $500-800k. Or a lot safer withdrawal rate. Might not want to quit just yet. Maybe suck it up for another year and then get out??
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Old 12-17-2007, 04:06 PM   #25
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Hmmm... interesting problem. Just a thought.... if they are paying you 100,000 + and you have that many stock options, then I am thinking that you are probably a fairly highly valued employee there. If you spoke to your boss'es I wonder if they might let you quit and return, but just on paper. Explain that you are very uncomfortable about having your entire retirement savings bound up in the company stock. Say that you want to stay, but could they work out a deal so that you can diversify the funds you have accumulated now, but all the new funds can be tied directly to company stock. Or perhaps some other sort of deal. It seems pretty justifiable to me for almost anyone being very concerned about a situation like that. Just an idea.. never hurts to ask...
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Old 12-17-2007, 06:06 PM   #26
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Look at property in northern Louisiana and get back to me

So, you're looking at property in my neck of the woods, huh? (NW Louisiana)
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Old 12-21-2007, 03:35 PM   #27
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Yea Im hoping to go there and eastern Texas soon to check it out, never been there...
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Old 12-21-2007, 03:44 PM   #28
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Yea Im hoping to go there and eastern Texas soon to check it out, never been there...
It has been a while since I mentioned it, but you need to know that Texas may not be the best place to consider for relocation. We've got scorpions, rattlesnakes, fire ants, cockroaches on steroids, killer bees, mosquitoes, ticks, chiggers, tarantulas, brown recluse spiders, copperheads, cottonmouths, rabid skunks, wild hogs, alligators, oppressive heat & humidity, bleak desolate scenery, dirty beaches, polluted air, drought, wildfires, water shortages, recurring floods, tornadoes, hurricanes, rednecks, huge piles of flaming mulch, spontaneously combusting playgrounds, the stench of natural and unnatural gasses, amoebic meningitis lurking in area lakes, recurring ebola virus outbreaks, flesh eating bacteria, staggering homeowner insurance rates, unbelievably high property taxes, and mandatory death sentences for DUI convictions.

Other than that, it's a so-so place to live...
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Old 12-21-2007, 05:31 PM   #29
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Rednecks are everywhere LOL

How's Louisiana ?
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Old 12-21-2007, 05:36 PM   #30
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How's Louisiana ?
It's great!
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