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Just put in my two week notice.
Old 10-14-2016, 11:54 PM   #1
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Just put in my two week notice.

48M living in Chicago area and just put in my two week notice with no new job set up. I've run through so many different calculations and scenarios and they've all come back with at worst 95% success rate under extreme conditions (no dividends, no social security, 4% stock returns, etc) but in most normal cases 99+% success rate.

Even though I don't plan on staying unemployed forever and I have probably 2-3 years cash reserves of expenses right now, the uncertainty of the future is somewhat scary. This is the first time being out of work in over 30 years. This is all after carefully planning for this. I can't imagine being someone who is laid off with no plan for that whatsoever. I guess there is a little solace for them in that they get unemployment which is something you don't get when you quit your job.

I was in a job that I was increasingly hating. It used to be a small fun company to work at but they were bought out by a venture capital firm and it's been all down hill from there. Letting go all the long time employees and just cutting costs by bringing in young cheap labor.

So it's just another thing that makes gaining FI great. It's gives you option and freedoms that most people just don't have. So for now, I will finally get around some long waiting projects at home, enjoy the upcoming holidays, maybe do a little traveling around the U.S. and then find out what life has in store for me next. I know it's not always easy finding a new job when you get up in the years but I always have that peace of mind that financially I will be fine.

So for those of you that have not yet reached FI stay on course because at some point in your life you will be glad you did. You may not want to quit your job or whatever but it's nice having that in your back pocket.

Peace out.
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Old 10-15-2016, 05:11 AM   #2
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Congrats!

Just nosy....how did your boss take the news?
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Old 10-15-2016, 07:06 AM   #3
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Originally Posted by DJohns95 View Post
This is all after carefully planning for this. I can't imagine being someone who is laid off with no plan for that whatsoever.
...
I always have that peace of mind that financially I will be fine.
Excellent! You'll fit right in here.
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Old 10-15-2016, 08:20 AM   #4
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Congratulations!
Enjoy the freedom.
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Old 10-15-2016, 09:44 AM   #5
Confused about dryer sheets
 
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Congrats!

Just nosy....how did your boss take the news?
As I mentioned they've been letting a lot of long tenured people go. In fact on the day I resigned they laid off two more. Also it's been no secret that I haven't been happy so he somewhat expected it. I guess his only surprise was in that I wasn't leaving to take another job.
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Old 10-15-2016, 09:48 AM   #6
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Congratulations.
Sounds like you're well prepared financially.
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Old 10-15-2016, 10:06 AM   #7
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Congratulations! Are you planning on relocating to a warmer, lower cost area?
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Old 10-15-2016, 11:47 AM   #8
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Congratulations! In 208 days, I will be joining you...
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Old 10-15-2016, 01:05 PM   #9
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Congratulations in taking back control of your life.

Now you can see if there are other opportunities that interest you and are suitably rewarding.

"Bought out by a venture capital firm" interests me. The ones I know don't do as you describe. It sounds to me like you were purchased by a hedge firm.
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Old 10-15-2016, 01:22 PM   #10
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Congrats!

Don't ignore immediately procuring healthcare insurance.

Everything else can be put on hold until you are ready.
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Old 10-15-2016, 02:01 PM   #11
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Congrats and enjoy.
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Old 10-15-2016, 02:10 PM   #12
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Congrats! Now enjoy what you've worked so hard all those years for
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Old 10-15-2016, 03:27 PM   #13
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Congrats!

Don't ignore immediately procuring healthcare insurance.

Everything else can be put on hold until you are ready.
Even when you quit, you are eligible for COBRA, unless his soon-to-be ex-employer doesn't offer it.

But since open enrollment for ACA starts Nov. 1, it may be a good time to compare rates.
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Old 10-15-2016, 03:31 PM   #14
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just put in my two week notice with no new job set up.
I did this three years go last month. Hated the work.
I stayed long enough to get 25% of the 401(k) employer match.

The uncertainty of the future was darn scary, but I survived financially.
You will too. Congratulations!
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Old 10-15-2016, 03:41 PM   #15
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Have fun!
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Old 10-15-2016, 07:11 PM   #16
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Congrats. I was in a similar situation. We had some layoffs in June including my long time manager. I had asked my new manager to put me at the top of the list if there was another round, but being a long time employee, I was too expensive to give a package and too cheap to let go (newer guys making much more base salary). I decided it wasn't worth it to wait for a package I probably will never get and left on my own terms this month.
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Old 10-16-2016, 09:58 PM   #17
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Congrats and welcome to being FIRed.
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