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Old 01-10-2015, 12:54 PM   #41
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I once worked under similar circumstances (but without great pay). What saved my sanity was putting together an exit plan with spousal consultation. In my case I had 'they owe me' chits to cash in so I strategized how to play those.

I can understand the desire to see if a buy-out materializes but you may want to put some time constraints on how long you will wait. It is my observation that the buying company will want to eliminate redundant employees, particularly those who are highly paid. Your job may well be eliminated as the result of a merger/buy-out if they conclude they can do without you, don't be TOO valuable to your current employer.
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Old 01-19-2015, 09:57 AM   #42
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How long ago did you sign the no-compete? In my state, no competes don't hold much weight but after two years are literally invalid per my attorney. Several years ago, I left an employer to work for their competitor but had signed a no complete (13 years prior). Since it was over two years old, my attorney said 'move on, it won't hold'.
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Old 01-19-2015, 11:17 AM   #43
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HI Indyinvestor,

My non-compete was signed in 2008. At the time I signed we had different ownership, I had a different territory (it has since been greatly reduced), and a much different comp plan. Virtually nothing is the same.

That is a good point and something I will look into. When I took my non-compete to an attorney initially, she didn't mention anything about it not being valid, but there is no doubt that it is waaay outdated.
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Old 01-20-2015, 10:55 AM   #44
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What do you WANT to do? No, it's obvious what you want to do. Why the hell are you waiting? The sooner you quit, the sooner that no-compete expires. You can maintain your lifestyle on your wife's company business. You can spend a year recuperating - getting your health back, if nothing else. How long the before the job damages your health to the point you cannot recover? What's it doing to your marriage?

Rhetorical questions, of course.


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Old 01-20-2015, 10:59 AM   #45
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What to do?

You're too much into bonds, IMO. I'm retired several years now (just turned 59) and maintain between 60 and 65 stock. Increasing stocks will let that money grow faster. You've got an 8 year time horizon, at least, and no foreseeable immediate need for the funds. If DWs business increases, you may have no need for it whatsoever.

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Old 01-20-2015, 11:12 AM   #46
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You're too much into bonds, IMO. I'm retired several years now (just turned 59) and maintain between 60 and 65 stock. Increasing stocks will let that money grow faster. You've got an 8 year time horizon, at least, and no foreseeable immediate need for the funds. If DWs business increases, you may have no need for it whatsoever.

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And just speculating, when you both retire with SS (I'm going to assume $3000 a month) and your assets are closer to $2M (a reasonable prediction, IMO), a 2% draw will provide you with a $76k gross income. At that rate of draw, you assets should continue a slower rate of growth, but not reduce over 20 years. Maybe by that time the mortgage will be gone, as well.

Just a thought.


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Old 01-20-2015, 11:26 AM   #47
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I'm retired several years now (just turned 59) and maintain between 60 and 65 stock.
Just curious - were you retired in 07/08? Did you have the same AA?
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Old 01-20-2015, 01:11 PM   #48
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No - I retired in 2013


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Old 01-20-2015, 01:16 PM   #49
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No - I retired in 2013
Ah, so you were one of the fortunate who wasn't living entirely off your nest egg when that little "market unpleasantness" occurred. That experience taught me that an AA with equities in the 50% and above range was too rich for my risk tolerance. YMMV.
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Old 01-20-2015, 01:25 PM   #50
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Ah, so you were one of the fortunate who wasn't living entirely off your nest egg when that little "market unpleasantness" occurred. That experience taught me that an AA with equities in the 50% and above range was too rich for my risk tolerance. YMMV.
I wasn't living off my nest egg then and I also decided that 50% and above is too much in equities for me.
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What to do?
Old 01-20-2015, 03:39 PM   #51
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What to do?

It's different for each person. Like the OP, I'm not required to draw from my portfolio to survive. That makes a major difference. Were he destined to live entirely off his portfolio, I'd not have mentioned it. I also assumed there'd be disagreements *grin*


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Old 01-20-2015, 03:44 PM   #52
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It's different for each person. Like the OP, I'm not required to draw from my portfolio to survive. That makes a major difference. Were he destined to live entirely off his portfolio, I'd not have mentioned it. I also assumed there'd be disagreements *grin*
I disagree that there is any disagreement...
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Old 01-20-2015, 08:20 PM   #53
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Have you run your numbers including your future SS in a retirement calculator, like the Fidelity retirement income planner? We did something very similar and ran all our income sources with and without the business income, and with the business income tapering off, in various calculators, plus made our own spreadsheet. My Fido year by year cash flow detail is my financial security blanket. It feels weird not to have to work full time and not have DH's steady megacorp pay check, especially when most of our friends and former co-workers our age are still working or laid off and looking for work. I have to keep referring to cash flow report to know we're fine.

At first glace, it looks like a great opportunity to downshift. Who knows, you could end up making more than your current job, plus you would have the business expenses to help manage taxes and you are investing in another business you might be able to sell in the future to help fund your eventual full retirement. You can sell a business but you usually can't sell a job.

A couple of books to help you decide are Plentitude by Juliet Schor (also author of The Overworked American) and What Happy People Know by a Canyon Ranch director who works with highly paid, stressed out executives.
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