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This Time it's for Real
Old 05-30-2017, 12:11 PM   #1
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This Time it's for Real

Hello all: Here's an update to my original thread from August 2013. http://www.early-retirement.org/forums/f26/am-i-ready-67853.html I did leave my 25 year corporate job at the end of 2013, and had planned to semi-retire to a hobby job. Within a few months however, I took a work-at-home position in my previous industry that was full time but with a lot of flexibility to set my own schedule. For a while it was exciting, then tolerable, but in the end it has escalated to much of the same BS, with the politics, quotas, travel and reports. I guess I've had a classic case of OMY syndrome. At this point Iím seriously ready to pull the plug and will give notice on June 5th. Iím still debating whether to give the minimum 2 weeks notice or offer stay on another 1-2 months to help with the transition.
Our investments have increased from $2.3 to 3.1M and Iíve got a better handle on our annual expenses which should fall in the 3-3.3% range. This excludes SS which will give us another $40K at 62 or $70K at 70. For insurance, DW and I will use COBRA through the end of this year ($1300/mo), then explore what other options are available starting next year. Our only son graduated from college this year and has some job prospects, but we may also need to cover his health insurance for a while (another $500/mo through COBRA).
Firecalc and Fidelity both say weíre good with some buffer room so Iím feeling pretty confident this time, but still worry about the current peaking market and a prolonged downturn. I guess thatís the risk you learn to live with using a 60/40 portfolio.
This time, Iím going to resist the temptation to jump into something new. Hopefully I can just chill out for a while and get adjusted. I still hope to find something part time to keep me occupied, but I wonít rush into anything.
Thanks again to everyone on this site for their support and inspiration. Itís really helped get through the last few years.
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Old 05-30-2017, 12:20 PM   #2
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Congrats and good luck on the second try!

You look good. And if your profile is accurate, you live in NY, which is big enough to likely have a strong[ish] individual/family insurance market going forward; thus, your health insurance risk isn't as large as for those of us in more lightly populated states. (Generally speaking, everything else being equal, yada yada....)

Our COBRA is going to be almost double yours, but we are going to go with it for the second half of this year in light of the shakiness of our state/region's individual policy market....
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Old 05-30-2017, 02:38 PM   #3
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Congrats!
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Old 05-30-2017, 02:53 PM   #4
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wow, you had 2.3 million and worked for 5 more years? If i was around for your original post i would have told you to run out the door and retire. You wont get those 5 years back. Now you mention the soc sec amount at 70? Look at the mortality tables, you have a
15 % chance of dying before you hit 70(im assuming your 59). Start living now.
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Old 05-30-2017, 04:15 PM   #5
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It would be ~3.5 years based on his post above: Retired ~Dec 2013 so 2014, 2015, 2016 & this year. With $3.1M...I'd recommend the standard 2 week notice.
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Old 05-30-2017, 06:02 PM   #6
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I think a low 3's WR is prudent.
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Old 05-31-2017, 09:58 AM   #7
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What changed? How did you work up the courage this time?
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Old 06-01-2017, 08:54 AM   #8
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Originally Posted by slv1 View Post
What changed? How did you work up the courage this time?
What helped is tracking expenses more carefully for the last 2 years. I also have more cushion now to absorb periodic major expenses which was a concern. (new car, home renovations, major health issues, etc)
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Old 06-01-2017, 09:43 AM   #9
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Good for you, ImReady - and it sounds like you are ready! Personally, I'd go with the 2-week notice and if they really want you to stay on longer to help with transition, let them beg and make it worth your while!
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Old 06-02-2017, 07:25 PM   #10
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Ah, you seem so ready and close to me since I supposedly RE'd 2 days ago. What are you waiting for really?

But I must say (in a friendly way): WTF punctuation and paragraphs really help understating your original post.
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Old 06-06-2017, 06:19 PM   #11
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But I must say (in a friendly way): WTF punctuation and paragraphs really help understating your original post.
I tried to edit my post but could not figure out how to - yes while I have a peeve that should not reflect on the friendliness of this forum.
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Old 06-06-2017, 06:32 PM   #12
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Quote:
Originally Posted by DanP View Post
I tried to edit my post but could not figure out how to...
The edit window closes after 6 hours.
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Old 06-06-2017, 06:36 PM   #13
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The edit window closes after 6 hours.
..6 hours? Good man that is not enough sobering time

...and now testing the edit feature, it works!

Yes that post was after a bit of my own ER celebration.

So lets move right along to the OP, sorry back on topic. My "what are you waiting for" still applies.
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Old 06-06-2017, 07:41 PM   #14
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Congrats! Your finance looks great!
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Old 06-07-2017, 10:53 PM   #15
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Looks like you are gold! Regarding notice, I'd say do what you feel. You only owe 2 weeks notice (unless you have a contractual agreement to the contrary.) Still, you may have somewhat of a soft spot for these folks. Much as I was ready to leave (and gave part of my notice as my remaining vacation.) I would have (and did a couple of times) talk on the phone even after my separation date. YMMV
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Old 06-09-2017, 05:57 PM   #16
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What are you waiting for. Life is short. Congratulations. Go live your life.
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