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Job Burnout...early retirement?
Old 08-16-2007, 12:52 PM   #1
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Job Burnout...early retirement?

Hi...I'm new to this forum. I'm a single, 51 years old, experiencing major job burnout after 27 years in the same profession (computer programmer here). Anyway, I have enough savings and investments to retire on as well as having my house paid off and have no major debts. I'm just curious if many of you in this forum just one day got fed up with the whole work life thing (feeling like you're on an endless treadmill...as once said on the Jetson's TV show..."Jane, get me off this crazy thing!") and just quit working. Have most of you planned your early retirement out or have many just one day said "Enough, I'm done"? Don't get me wrong, I've been planning for early retirement for a long time but sometimes its tough to officially say "I'm done". I've had extended periods of time off in the past (up to 16 months of unemployment after 9/11) and survived those and actually enjoyed them, so I think I'm good "retirement material". Anyway, please let me know what your thoughts are.

Thanks.
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Old 08-16-2007, 01:19 PM   #2
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Welcome Dallas!

I'm probably in the minority here, but while I have been a saver all of my life (so the $$$ end of RE was on pace) I had never really given retirement a second thought....nor had I given much thought to the idea that I was getting older (52)....I was enjoying my career (SE accountant) until it seemed that one day it had become w**k....with much less of the joy that I had experienced early on.....

I think that only when I took the time to reflect discovered that I could retire, I focused on the possibility much more....and then the possiblity became a reality......

...so for me it really was that I "got fed up with the whole work life thing" and decided that I would take some of the advice that I had been handing out for years.....that is to take time to smell the roses
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Old 08-16-2007, 01:46 PM   #3
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Quote:
Originally Posted by DallasGuy View Post
Hi...I'm new to this forum. I'm a single, 51 years old, experiencing major job burnout after 27 years in the same profession (computer programmer here). Anyway, I have enough savings and investments to retire on as well as having my house paid off and have no major debts. I'm just curious if many of you in this forum just one day got fed up with the whole work life thing (feeling like you're on an endless treadmill...as once said on the Jetson's TV show..."Jane, get me off this crazy thing!") and just quit working. Have most of you planned your early retirement out or have many just one day said "Enough, I'm done"? Don't get me wrong, I've been planning for early retirement for a long time but sometimes its tough to officially say "I'm done". I've had extended periods of time off in the past (up to 16 months of unemployment after 9/11) and survived those and actually enjoyed them, so I think I'm good "retirement material". Anyway, please let me know what your thoughts are.
I can't retire for about 2-3 more years, but I have it all planned out - - I even have a tentative date in mind. I think I know exactly how you feel.

Do you have enough income lined up so that you can live in the style that you would like (including health insurance)?

Do you know where you will retire, and do you have some idea as to what you'd like to do in retirement?

If so, then I think that you should go for it! Good luck, whatever you decide.
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Old 08-16-2007, 02:37 PM   #4
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I always knew I would retire in my 50's but one day I was at work and the younger nurses were complaining about how long they had worked .I started thinking about how long I had been working and it was 35 years .That day I handed in my resigination enough was enough !
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Old 08-16-2007, 03:17 PM   #5
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I was in a very similar boat to you. I was a peon-level programmer for 27 years. By
2004 I had reached my FI goal and paid off my house, but work was still going
smoothly, so I did not have the incentive to pull the switch. Last year, work conditions
went way downhill, and I retired at 48. ER is turning out even better than I thought it
could.
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Old 08-16-2007, 03:27 PM   #6
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I can relate. I FIREed last year at 50. DH and I had gotten our financial house in order then inherited enough money to make working optional. It took me all of 30 seconds to decide and the letter was typed and delivered that afternoon. Even went in on my day off to do it.
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Old 08-18-2007, 10:17 AM   #7
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Did it at 50 this year with 28 years at the same place, sick of all of it sold the house in NJ moved to NC and feel a whole lot better. Working 2 days a week part time on those two days took my early pension, small mortgage 300 a month no other big debts. Funny the bills get paid, there is plenty of food in the fridge, the cars get gasoline when they need it no matter what the price. If the wife wants to buy anything there is money to get it. Medical insurance is paid for thru the pension I pay about 800 a year for dental insurance and has paid out 800 in bennies so far this year so it has paid for itself so far. Blood pressure is better . I felt like a hamster on the wheel going no place. Feels good to get off.
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Old 08-18-2007, 07:08 PM   #8
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ER was not a possibility with my first wife. We had no money in savings, no investments and only a ton of debt. I was paying minimums on all the credit cards just to try and stay ahead. DW found out credit cards can be issued at the drop of a hat and Bingo! a whole new line of credit. Many of these she paid on the side and hid the bills.

After the divorce I was finally able to get my financial house in order. The $150k in debt the judge "awarded" me plus the QUADRO, alimony and child support (for the child she got) left me with almost nothing. Add to that my obligations as a single parent (the other child) and trying to find and keep a roof over our head and food in the house was quite a chore. But, I was able to retire the debt in a few short years and then start to save and learn to invest.

I went from -$150,000 if debt to being FI in 15 years. The last 5 were mostly feathering the nest and done for personal reasons. If I can do it, anyone can with a little knowledge and a lot of self discipline.

It is nice to know that it is highly unlikely (FIRE Calc percent greater than 99%) that I will ever run out of money at our project spending rates.
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Old 08-19-2007, 09:22 AM   #9
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I can empathize. I am in a similar situation. But it looks like it makes sense to me to wait another 4 years. The benefits I get waiting 4 more years are pretty huge. The benefits of company ER are worth almost as much as my wages for the next 4 years... Health insurance and pension at 55 for life is is worth another 4 years of servitude. So I will have to grit my teeth and bear it.

But I am trimming back the overdrive work effort. Why knock myself out! Heck, if I don't watch out I might get offered a promotion and be in the awkward of wanting to turn it down. At this point I do not want to complicate my life with more work responsibility. Plus, any raise I would get for the next few years would be mean little in the scheme of things.
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