The home office is ready. My wife gave notice today (her boss was out tomorrow) and I give notice tomorrow.
I have not posted here is a while, but to remind everyone, we decided to bail from corporate life and work at home. I am hanging out my shingle as a consultant, and my wife is quiting to be the (home) office manager, taking care of all non-billable task and also helping out with some consulting work. I figure she is actually more capable than the new hires I work with right out of school.
The plan is for me to put in 40 hours, and her 20, which will net us about 15 hours in commute time, 10-15 hours/week of my work time, and 20-25 hour/week of her work time. Total savings: About 45 to 55 hours/week. The cost? We do not know yet but I expect our income to drop from about $225 to about $120-150k. This is significantly more than we spend now (about $80-$100k w/taxes), so we expect to be able to continue to save.
Purchase to date include:
Two sets of office furniture
Two computers
A color multifunction printer
A 650 SF home office addition (the big ticket item)
E&O insurance
HSA Heathcare plan
Misc software
Accountant and Lawyer professional fees
The hardest part about all of this has been the acceptance that we are both quiting jobs that are dream positions to most people in order to cut our income in half. I still kind of feel like I am being stupid doing this (social pressure). However, we have reached our savings goals and actually do not even need to work, we just want to transition to full retirement instead of going from 100 to 0 in one day. We can not see any reason to continue our current pace just to make a bigger pile of money. We both are excited as this has been a goal since we were first married 20 years ago (we are both planners).
We have not told anyone but our immediate family. The cover will come off this weekend. Hope my clients are as excited about this as I am
.
Anyway, I am rambling, but I am both psyched and sick to my stomach tonight. Cheers!
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