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Old 02-25-2013, 08:38 AM   #21
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If I could get that deal I'd be taking unpaid leave about half the time...
You and me both ! I'd probably work until I'm 60 with that deal. I can't even get Part Time
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Old 02-25-2013, 08:42 AM   #22
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Originally Posted by HighRoller View Post
If you worry now, how do you think you'll feel after you retire espically if you don't work those one or two more years?
Yep - you read me like a book. If it turns out less than ideal, or if the market drops 20% (instead of the 10% contingency) then I'll blame myself.

However - if I end up at age 90 with $4mm in my portfolio I'll be kicking myself in the butt (assuming I'm sane enough to know the difference)
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"For the time being no discipline brings joy, but seems grievous and painful; but afterwards it yields a peaceable fruit of righteousness to those who have been trained by it." ~
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ER'd in June 2015 at age 52. Initial WR 3%. 50/40/10 (Equity/Bond/Short Term) AA.
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Old 02-25-2013, 09:13 AM   #23
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I couldn't get away with that in my job either. And she can't do the unpaid leave until she exhausts her paid vacation leave. But after that, so far it has worked out for her. It helps that her management is incompetent. and she does have a specialized skill and walks on water. Which is why it pertains to Live and Learn, who is too valuable to get severance pay.
Timo, I'm now going to raise the bar for the expectations of what my husband says about me to include admitting that I, too, walk on water.
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Old 02-25-2013, 09:19 AM   #24
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From one worry-wart to another, when I first attempted ER back in 2008 and watched our nest egg drop by about 40% it freaked me out to the point that I eventually went back to work after two years. I think we probably had enough to stay retired but I wasn't prepared for how hard it would hit me emotionally. Also, I found out I was a much better saver than a spender. It killed me to spend down our portfolio, even though all the numbers "worked" according to all the calculators and studies.

The other thing that killed my ER was I got bored after two years due to a lack of planning, and because we still had kids in school so we really couldn't go do much "retirement" type travel. My wife was still working at the time.

Our new plan has me trying it again after the kids are in college. I just turned 48, so at 53 I hope I still feel like surfing everyday. 😳
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Old 02-25-2013, 09:49 AM   #25
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I'm in the same boat. Everyone else I know who applied for the package got it and are doing their 90-day transitions now. So I gave my two weeks notice with an option to work a 90-day transition if they reverse their decision. I'm drawing down vacation balance while they're thinking it over.

My guess is that they believe my numbers won't work without the buyout so I would take the "one more year", and I'm calling the bluff.
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Old 02-25-2013, 10:28 AM   #26
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This describes my position rather well. Retiring and taking pension (no SS) will leave us in the same tax bracket with lower income, because of losing deductions for TSP and FEHB premium.

I keep not wanting to get into that position, but the only other choice is to keep working full-time and watching life drain away. Sometimes you gotta cut the cord, even if it means your longer-working cow-orkers will have more $ and end up in a higher-class old age home than you will

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I You could easily end up working another year or two, and if the market declines, end up having a lower net worth. Then what? Work another year or two? I've had the same experience of losing friends/family at a young age and it sure motivated me to enjoy life now.
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Old 02-25-2013, 04:06 PM   #27
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From one worry-wart to another, when I first attempted ER back in 2008 and watched our nest egg drop by about 40% it freaked me out to the point that I eventually went back to work after two years. I think we probably had enough to stay retired but I wasn't prepared for how hard it would hit me emotionally. Also, I found out I was a much better saver than a spender. It killed me to spend down our portfolio, even though all the numbers "worked" according to all the calculators and studies.

The other thing that killed my ER was I got bored after two years due to a lack of planning, and because we still had kids in school so we really couldn't go do much "retirement" type travel. My wife was still working at the time.

Our new plan has me trying it again after the kids are in college. I just turned 48, so at 53 I hope I still feel like surfing everyday. ��
Interesting - sounds like you're happy with your "un-retirement" ? Do you think you'd be happier if you didn't have that retirement dry-run in 2008 at all ?
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Old 02-25-2013, 11:45 PM   #28
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I feel the same about the "one more year syndrome". I was planning to FIRE last year... To the OP : I would wait at least a few more months until the 3 calculators show 100% success rate. Good luck.

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Easy to get caught in the one more year trap. But if 1 or 2 more year puts you over the top, I would. Fifty was my goal, but settled for 52.
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Old 02-26-2013, 01:48 AM   #29
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So now I feel like I need to work OMY to make up for the "lost" severance ! How crazy is that ??
I don't think it's crazy. I'm sorry to hear that you're too valuable to get a severance.

If I could get severance and then unemployment, I'd take it in a heartbeat and try out a new (part-time) career. But without it, I make too much money at my current job to take that risk.

I think you really need to think about why you want to retire. Is it just to meet your goal of age 50? Is that goal still important to you? Are there things about your current job that you need to get away from? Are there things in your life that you feel that you are missing out on by working?

You can keep running numbers forever, and even if you get to 100% you'll probably still find more things you want to have special buckets for.
But what will you be missing out on by working? I took a few days off work in December to hang out with my mom and dad. When my dad died from a heart attack on Jan 1, I was really glad that I didn't let work come first.
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Old 02-26-2013, 02:52 PM   #30
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Ok, so lets look at this. I have 1.1mm in post-tax dollars (investment purchase price plus cash). If I spend that over 40 years that gets me 28k in expense I can cover that wont be part of my MAGI. Gets me to taxable income (assuming all other dollars are pretax) of 63k. BUT ... if I get Obamacare subsidy at MAGI of 60k my expenses go down by 15k which means I need to fund 72k in expense, less 28k = 44k, well below 60k cliff.

If I assume Obamacare subsidy I get 100% to age 100 in Firecalc, 95% to age 95 in Vanguard, and 92% to age 90 in FIDO.

The BS bucket is feeling awfully heavy after running those numbers !
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"For the time being no discipline brings joy, but seems grievous and painful; but afterwards it yields a peaceable fruit of righteousness to those who have been trained by it." ~
Hebrews 12:11

ER'd in June 2015 at age 52. Initial WR 3%. 50/40/10 (Equity/Bond/Short Term) AA.
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Old 02-26-2013, 03:57 PM   #31
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My advice is to make sure you can get health insurance. If you can - get out of the rat race ASAP! I don't hear you saying you love your j*bs
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Old 02-26-2013, 04:30 PM   #32
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My advice is to make sure you can get health insurance. If you can - get out of the rat race ASAP! I don't hear you saying you love your j*bs
I am currently getting coverage through my husband who will continue to work for another 8 years (God willing). With the new healthcare act everyone will have access to healthcare. My new numbers which include the subsidy look very doable, and even without the subsidy I was at 85 - 95 % success.

I just need to convince myself that it will be ok to bail out ! My BS bucket is FULL !
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"For the time being no discipline brings joy, but seems grievous and painful; but afterwards it yields a peaceable fruit of righteousness to those who have been trained by it." ~
Hebrews 12:11

ER'd in June 2015 at age 52. Initial WR 3%. 50/40/10 (Equity/Bond/Short Term) AA.
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Old 02-26-2013, 05:25 PM   #33
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If I could get severance and then unemployment, I'd take it in a heartbeat and try out a new (part-time) career. But without it, I make too much money at my current job to take that risk.
Yep - exactly the same here !

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I think you really need to think about why you want to retire. Is it just to meet your goal of age 50? Is that goal still important to you? Are there things about your current job that you need to get away from? Are there things in your life that you feel that you are missing out on by working?

You can keep running numbers forever, and even if you get to 100% you'll probably still find more things you want to have special buckets for.
But what will you be missing out on by working? I took a few days off work in December to hang out with my mom and dad. When my dad died from a heart attack on Jan 1, I was really glad that I didn't let work come first.
The stress is more than I want to deal with. Its unhealthy. I don't enjoy getting up in the mornings anymore. Perhaps all I need is a different job. I've considered that option also. It would be a tradeoff of of 3:1 years. Am I willing to work 3 or 6 more years somewhere else rather than put up with the BS here for 1 or 2 more ? I'd rather be free (but who wouldn't) and the numbers are close enough that "I think I can" but I'm afraid of making the decision on my own. Yeah, I know - I'm looking for a scapegoat, I get that.

I'm so sorry to hear about your Dad but I'm glad you got to spend the time with him. I spent 3 days in the hospital hanging out with my Dad the month before he died. I'll always treasure those three days.
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Hebrews 12:11

ER'd in June 2015 at age 52. Initial WR 3%. 50/40/10 (Equity/Bond/Short Term) AA.
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Old 02-26-2013, 05:29 PM   #34
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I would wait at least a few more months until the 3 calculators show 100% success rate. Good luck.
Emphasis mine. Months ? I wish it were months With my 10% market contingency it's probably more like 5 - 7 years before all three calculators get me to 100%.

Without my market contingency and w/out any Healthcare subsidies I get 92%, 88% and 99% with Fido / Vanguard / Firecalc respectively.

I'lll look at this again in August which was my target date.
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"For the time being no discipline brings joy, but seems grievous and painful; but afterwards it yields a peaceable fruit of righteousness to those who have been trained by it." ~
Hebrews 12:11

ER'd in June 2015 at age 52. Initial WR 3%. 50/40/10 (Equity/Bond/Short Term) AA.
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Old 02-26-2013, 05:46 PM   #35
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I am currently getting coverage through my husband who will continue to work for another 8 years (God willing). With the new healthcare act everyone will have access to healthcare. My new numbers which include the subsidy look very doable, and even without the subsidy I was at 85 - 95 % success.

I just need to convince myself that it will be ok to bail out ! My BS bucket is FULL !
In your situation, health insurance would be my only concern. Since you are talking about waiting until August (I think?) by then we'll know if the healthcare act really happens. I'm cynical. It's coming too late to help me, unfortunately, but I go on medicare in June and my expenses drop enormously.

I have never looked back, never regretted a moment of that decision to quit! There's been a lot of stress since I quit, but fundamentally it was nothing compared to what I experienced at my j*b. I grew to hate my job and the whole work environment I was in. Life's too short to put up with that crap!
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Old 02-26-2013, 05:47 PM   #36
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Ok. Then to answer your concern, I would wait a few more years until the calculators get me to 100%. I am sorry.


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Emphasis mine. Months ? I wish it were months With my 10% market contingency it's probably more like 5 - 7 years before all three calculators get me to 100%.
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Old 02-26-2013, 05:53 PM   #37
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Ok. Then to answer your concern, I would wait a few more years until the calculators get me to 100%. I am sorry.
LOL thanks ObGyn ! thats why we love the ultraconservative that you are
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Old 02-26-2013, 06:00 PM   #38
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I just thought of this because it doesn't always get factored in... Your expenses can be adjusted. You can cut travel and entertainment, or buy fewer clothes - whatever is an expense you can live without. Right now I'm spending a lot more on travel than I will in a few years (I think). But I want to do it while I have the energy. As I get older I expect my expenses will drop (unless I need long term care). Maybe one car... Who knows. But I could cut thousands out of the next 12 months and still be a happy camper (although one who stayed home more).
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Old 02-26-2013, 06:03 PM   #39
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L&L,

Where do I find the Vanguard calculator?
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Old 02-26-2013, 06:43 PM   #40
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If I assume Obamacare subsidy I get 100% to age 100 in Firecalc, 95% to age 95 in Vanguard, and 92% to age 90 in FIDO.

The BS bucket is feeling awfully heavy after running those numbers !
Are you carrying the obamacare cost all the way to 95? medicare would take over @65 should that should be a big step change down ( assuming medicare is still around ).

As another post mentioned, I think you are over doing the contingency numbers, maybe double dipping in some places. Like the 150k for home expenses... for 150k I could buy a brand new house. So far in 12 years I've done less than 2K, and 1200 of that was new AC compressor.
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