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Old 02-17-2017, 10:29 AM   #41
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Well there's a thought.
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Old 02-18-2017, 03:05 PM   #42
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I do not understand the need to say anything....other than goodbye it's been a slice. What is there to explain?

Your co workers can figure this one out by themselves.
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Old 02-18-2017, 04:09 PM   #43
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I tell them I will be living in a trailer down by the river (Thank you Chris Farley RIP).
What I do not tell them it is a paid for brand new manufactured home in a +55 well kept mobile home park. It is near (but not too near) the Santa Clara River.
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Old 02-18-2017, 07:18 PM   #44
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Question for you already-FIRE'd types. How did you deal with questions from co-workers? Right now my boss and the CEO both know, but we will keep it under wraps for a few more weeks.
The short answer is that your FIRE announcement will separate your co-workers from your real friends. In a good way.

The best way to avoid office ambushes is to very publicly spread the word about your last day in the office, but then leave very early that morning... or even the afternoon before. You can always meet people somewhere else for lunch or coffee, and the ones who care will make the effort to show up.
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Old 02-18-2017, 10:54 PM   #45
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All -

I am making good progress on my FIRE plans. My plan is to w*rk until end of March/Mid April and then "retire" to work in the Small Business my DW and I own. It probably will be a fair bit of w*rk as well, but will be much more flexible and no more working for the "man".

I've been fortunate enough to work in high-tech for my career and have been part of two acquisitions and one IPO - all of which resulted in stock, options, or both. That, plus LBYM and conservative financial planning have put us in a good position. I am 50 yo, so not super young, but clearly ahead of most Americans (though not necessarily those on this forum )

Question for you already-FIRE'd types. How did you deal with questions from co-workers? Right now my boss and the CEO both know, but we will keep it under wraps for a few more weeks.

I don't mind sharing financial details here, but I really don't need folks at w*rk knowing my business. But the fact I can FIRE kinda puts my finances out there for all to see and discuss. How did you all handle it? I expect there could be a variety of reactions and good-natured ribbing, but some resentment as well? The folks here are all quite nice, but I generally would prefer to stay kinda under the radar - doesn't seem like it will be possible.

Yes, I can say I will be w*rking at our small business, but there is no way folks won't know it is a tremendous pay cut compared with profitable high-tech firm and wouldn't be an option for them if they were in my shoes.

Would love to know your strategy/approach. Or if this has been asked, a pointer to relevant threads as well.

Thanks!
I did not explain anything to anyone. So I let my leaving do the talking.
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Old 02-19-2017, 11:20 AM   #46
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There were always rumours about my wealth because I had a huge house and a classy car as well as Hugo Boss suits. Aside from the cars, a personal extravagance that happened to pay off, all the other items were savings strategies.

The other LBYM items was never obvious at work.
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Old 02-20-2017, 12:47 PM   #47
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I'm not retired, but when I talk about my FIRE plans I get one of two reactions. The small percentage that know what FIRE is congratulate me and assume I'll be good (I'm military, so our pension is outstanding). The vast majority of people, though, immediately launch into "you don't know what you are talking about, you haven't yet realized how expensive life is (I've been living on my own for 17 years), your plan will never work" yada yada yada. I actually would prefer for someone to ask numbers questions so I could spread some knowledge, but instead it's a lot of ignorance and assumptions that is quite frankly a little insulting.
@ FI 2024 - My guess would be they are assuming since the military often covers living expenses (e.g. BAH, BAS), your colleagues think you are not taking into account your retirement check is going to be less than your over-all take home active duty pay. Take in account there are people who retire from the military with debt (at least with a mortgage and a car payment), and there also, your co-workers are thinking you aren't understanding the big picture. The simple math is: if all your living expenses are lower than what you are bringing in, you're golden.

Are you looking at semi-retirement or trying for full fledged "never work again" retirement?
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Old 02-20-2017, 01:25 PM   #48
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Actually I think its the general reaction from people who assume the standard plan (save 10% and work till you're eligible for social security) is the only way to do it. I work in financial services- all of my colleagues either do or should know how this works- and I get that same reaction. One older colleague asked me (with an incredulous expression) if I was sure I had enough. After 20 years doing this for a living? Yeah, I am sure. Thanks for asking.
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Old 02-20-2017, 01:30 PM   #49
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^ try 20%
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Old 02-20-2017, 02:56 PM   #50
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Actually I think its the general reaction from people who assume the standard plan (save 10% and work till you're eligible for social security) is the only way to do it. I work in financial services- all of my colleagues either do or should know how this works- and I get that same reaction. One older colleague asked me (with an incredulous expression) if I was sure I had enough. After 20 years doing this for a living? Yeah, I am sure. Thanks for asking.
You have a point. Many people just don't know step 1 of what they need to focus on financially. Couple this with the fact the articles you often read are about retiring at 65 or older, and most folks accept the fact that 65+ is where you'll need to be in order to retire. I think also because 65 is when Medicare kicks in.
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Old 02-20-2017, 05:27 PM   #51
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@ FI 2024 - My guess would be they are assuming since the military often covers living expenses (e.g. BAH, BAS), your colleagues think you are not taking into account your retirement check is going to be less than your over-all take home active duty pay. Take in account there are people who retire from the military with debt (at least with a mortgage and a car payment), and there also, your co-workers are thinking you aren't understanding the big picture. The simple math is: if all your living expenses are lower than what you are bringing in, you're golden.



Are you looking at semi-retirement or trying for full fledged "never work again" retirement?


No they know I'm taking those things into account, they just can't fathom living on ~$50K per year (which is what my retirement will hopefully be, in 2016 dollars). And they also don't believe that the $15-20K per year I'll pull from investments will add enough either. Yes. They seriously don't believe a single adult can live on $65-70K per year. One guy I spoke to said he couldn't fathom anybody living on less than $100K per year. It makes you wonder what they think the enlisted guys with families are doing. They are seriously out of touch.

I'm looking at "never work for pay" retirement. Lots of volunteering and maybe opening up my own non-profit.
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Old 02-20-2017, 06:45 PM   #52
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The bottom line....the savvy ones will get it-they know the score and hardly need an explanation.

The others won't and no amount of explaining will make them really 'get it'. They probably never will.

Just say goodbye.
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Old 02-21-2017, 11:37 AM   #53
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Funny, I never got asked many questions when retiring from Mega-Corp but my wife who decided to work a couple of extra years as a receptionist at an Eye Clinic is getting all kinds of questions!

"How can you possibly retire?" She just tells them that hubby did an OK job, has checked the numbers (endlessly) and that "she can". She says its amazing how many stick stick out their tongue or grimace at her.

At least she says she is enjoying it. Only 11 days left for her.

But I'm the one who is nervous now. Can't sneak a cigar on the porch as often. . . .
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Old 02-21-2017, 02:13 PM   #54
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No they know I'm taking those things into account, they just can't fathom living on ~$50K per year (which is what my retirement will hopefully be, in 2016 dollars). And they also don't believe that the $15-20K per year I'll pull from investments will add enough either. Yes. They seriously don't believe a single adult can live on $65-70K per year. One guy I spoke to said he couldn't fathom anybody living on less than $100K per year. It makes you wonder what they think the enlisted guys with families are doing. They are seriously out of touch.

I'm looking at "never work for pay" retirement. Lots of volunteering and maybe opening up my own non-profit.
Yeah, it certainly sounds like most of the people you are talking to are still in the "make lots of money" mode. Maybe because of debt and the responsibilities of family (and just not knowing)?

Looking at the fact when you are retired you are no longer saving for retirement, means you do not need as much money as you once did. And again, having no debt is a huge deal. More than many people realize.

Volunteering is awesome. You can make your own hours and bounce around to different interests. Never a shortage for volunteers. Starting a non-profit, a noble cause indeed, but remember it's a passion that can quickly become full-time work that you will be married to. Not as easy to walk away or switch gears.

Thank goodness we have a site like this. I think many people here have felt the doubt from others. Especially those who have been fortunate to leave work in their 40's or 50's. No one seems to doubt it if someone is in their 60's and is retiring, but any sooner, and there are people who can't believe it and have serious doubts. It leaves you wondering, "Am I missing something?"

Looking just at your military pension, low cost retiree medical (which is a huge deal), and being able to pull $20k a year from additional sources, is great. Heck, with no debt, and depending on where you live, most people are having their living expenses covered on $25-30k (or even less) a year. Anything above that is "bonus"!
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Old 02-22-2017, 05:42 PM   #55
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As a follow up, my boss and I let the team know today about my pending departure into "retirement". It was going to be concluded at the end of March, but I agreed (reluctantly) to do part-time throughout April - though it will be from home/our store and won't be too burdensome.

The reactions were quite interesting. There were actually some very sad reactions that I was leaving (which was touching for sure) and some heartfelt congratulations and good-natured jealousy.

But a common reaction was disbelief. Not that I was leaving prior to 65 (or whatever) of my own volition, but that such a thing was even possible. It was like most folks haven't even considered possibility of FIRE and/or are so deeply upside-down financially that is isn't within the realm of possibility.
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Old 02-23-2017, 06:09 AM   #56
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No they know I'm taking those things into account, they just can't fathom living on ~$50K per year (which is what my retirement will hopefully be, in 2016 dollars). And they also don't believe that the $15-20K per year I'll pull from investments will add enough either. Yes. They seriously don't believe a single adult can live on $65-70K per year. One guy I spoke to said he couldn't fathom anybody living on less than $100K per year. It makes you wonder what they think the enlisted guys with families are doing. They are seriously out of touch.
Yes- same for me. For years my colleagues have been laughing at what I drive (currently a Mazda6- I love it) as they all drive luxury cars. But I have been laughing all the way to the bank. I probably also have a more modest home, but everything I own is PAID FOR, which is why- even with 2 children we easily live on 60K per year (before taxes) and can afford to retire.
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Old 02-23-2017, 06:36 AM   #57
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I'm socializing more now with an "alumni" group from the place where I worked before my final employer. Many didn't know I'd retired. I just tell them the politics got toxic at the new place and after 18 months I looked at my numbers and decided I didn't have to work for a living anymore so I quit. No one has asked for any more details.
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