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Old 03-01-2013, 07:39 PM   #61
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I love the FIDO tool. I use FIREcalc and Vanguard as "sanity checks". FIDO seems to be the more conservative tool also.
Me too, and I use it obsessively on endless "what if" scenarios...higher expenses, lower expenses, LTC, annuity, earlier SS, later SS, higher confidence, etc, etc.
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Old 03-23-2013, 11:29 AM   #62
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Happy Update !!!!



I spoke to the bosses last week and suggested that they need to think about moving my position to headquarters (1800 miles away). I made the case that having me down here in Florida worked only because of ME as an individual (I've been working remote for 10 years although I do commute an hour each way to a satellite office). I suggested that they are screwed if I left and that they would probably replace my position in NY at that point. They agreed. I then told them that I was FI and that retirement was on the near horizon. They asked about my timeframe and I said "yesterday would work" but that I wanted to give them time to find my replacement up north. I also made the point that this was in effect a position relocation that would come with severance. They agreed. They are now trying to talk me into staying OMY and I've been saying no.

Severance would allow me to use 85% of my portfolio in my retirement calculations (which currently use 90% of my portfolio). My "ideal" is to use 80% but I have enough other contingencies in my plan that I'm ok taking that bit of risk.

Now I just have to hope they actually go through with the severance deal. Fingers crossed. I think they know I can go at any time so I'm hoping they realize that if they want a smooth transition its worth the cost of severance.

I sort of feel like I'm blackmailing them but OTOH I've been there nearly 30 years so if I divide the severance dollars by 30 its peanuts per year.
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Old 03-23-2013, 12:24 PM   #63
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Good luck, L&L. Glad to hear you made a decision you feel good about.
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Old 03-23-2013, 04:34 PM   #64
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They value your work? Find out. Tell them you are resigning unless you get a "stay bonus"
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Old 03-23-2013, 09:50 PM   #65
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They value your work? Find out. Tell them you are resigning unless you get a "stay bonus"
I think we are both considering the severance to be my stay bonus (for 5 more months on the job). They've asked me to stay an additional 7 months beyond that and have dangled another annual bonus in front me but I'm seriously not interested. I'm way too tired and burned out. The difference between 5 months months and 12 more months feels like a lifetime.
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Old 03-24-2013, 11:18 AM   #66
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Live, this makes me angry on your behalf, as for many years I've watched colleagues really screw up, be released from their jobs, and end up in better places. Sometimes it seems there is a penalty for being highly productive.
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Old 03-24-2013, 02:30 PM   #67
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I get to 97% on all three if I (a) remove my 200k contingency for a 10% market drop and (b) keep my MAGI below 60k and get HI premium subsidies. I guess the real question is .... are those two changes "reasonable".

Aren't you in effect double dipping if you keep in a contingency for a 10% market drop. That is, for most calculators don't they in fact include scenarios where there was a large market drop. I mean some of the periods that FireCalc includes were very grim and would have had a 10% or larger market drop. So, isn't the possibility of 10% market drop already included in running the calculators?
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Old 03-24-2013, 03:14 PM   #68
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I don't think you can be diagnosed to have OMY syndrome unless you reset your target more than once. My goal was to be done at 50 but at 49 my daughter was diagnosed with a chronic illness. I stayed on until we got clear on her long term prognosis and health care needs. The good news was that after 1.5 yrs it became probable that her health care was going to be manageable and about the same time mega corp announced an early retirement offer. The way I looked at it, part of my reward for being a faithful father was a six figure send off that was not available at age 50.

Point is life happens, adjustments need to be made....just don't make it a habbit
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Old 03-24-2013, 05:31 PM   #69
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Had a conf call with the boss today (yep, on Sunday !). He asked how my weekend was. I worked 20 hrs ! I said "don't ask - all I can say is five more months" !

I'm so ready to get to the next chapter. I have found so much peace in the past week. I still get upset about the stupid things I see at work, but afterward I grin ear to ear.

Katsmeow - yes, my original scenarios included alot of double dipping for bad things happening. I still have some contingencies in my plan but now I run my scenarios with and without that 10% market drop contingency so that I can see 'worst case'. I have to admit, worst case doesn't look that bad !!! I won't be able to do any extensive traveling (but I've never really gotten the travel bug to begin with), and I won't be able to buy first generation new technology (not that I ever have ! I still don't have a flat screen TV !), but I'll be able to spend my time how I wish.

I envision days of playing golf (haven't had time to in over 10 years !!!), volunteering (SPCA or Hospice are my first choices), making my home neat and clean (haven't had time to do that in 10 years either LOL), going to the local parks and beaches, and cooking yummy meals. Sounds pretty much like paradise.

Now I just need the severance !!!!
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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 03-25-2013, 07:14 AM   #70
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Getting my home neat and clean again is also one of my ER goals. I have rental properties (besides a full time regular j*b and taking care of my almost 84-year old mother) and stuff just seems to pile up - years of stuff! Do I take a vacation 'to rest' or one to clean up my house? Or give it one more year until I retire and can do a thorough cleaning?
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