Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
I'm driving myself crazy !!!!
Old 06-02-2013, 09:13 AM   #1
Thinks s/he gets paid by the post
Live And Learn's Avatar
 
Join Date: Feb 2012
Location: Tampa Bay Area
Posts: 1,688
I'm driving myself crazy !!!!

Upcoming ER is becoming "too real" and I'm driving myself crazy with worry.


Quick facts:
  • Clearing out the "big house" and doing some minor repairs before listing for sale; have already purchased smaller home.
  • RIF is approved but notice not yet recieved; theoretically I can get my notice at any time and would be unemployed 2 months later. 1 year severance.
  • FIDO gives me 90% chance of portfolio lasting to 91 (95% to 85) with current (market high) portfolio
  • Firecalc gives me 100% success using 92% of my current market high portfolio
  • Budget is conservative at 91k which includes 30k for healthcare costs, 4k for travel, and 2k for "buying stuff" annually.
Dilemma:
  • I have an opportunity to stay with megacorp and w*rk from home at my current salary. I could probably stick it out another two years doing this. Would be equivalent to 3 years salary if I count bonuses.
  • Would give up severance and would give up access to megacorp unsubsidized healthcare. DH and I both have pre-existing conditions, so if Obamacare is repealed access to megacorp HI is important.
  • I am a worry wart, so I am leaning towards sticking it out 2 more years. I figure at worst I'm ER'd at age 52 and I have $175k extra to spend later on.
  • OTOH while the BS bucket has been fairly light lately it can get very heavy again soon. I break even dollarwise vs Severance after about 9 months, so I always have the "I quit" option, but I'd give up unemployment and potential HI access.
OMY syndrome says that I'm not really comfortable until I get the success rates above using only 85% of my portfolio. I know thats double dipping, but I worry about kicking myself in the butt as soon as the market pulls back.

I've been killing myself over this all weekend and am seriously considering the telecommute gig. I would have 10 extra hours of "me time" a week by giving up the commute. Or, I could view it as losing 50 hours of "me time" vs ER !

I need to be saved from myself !!!
__________________

__________________
"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.
Live And Learn is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 06-02-2013, 09:16 AM   #2
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,074
Sorry, I've got nothing for you. Your OMY demons are self-inflicted and entirely yours to tame.
__________________

__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 06-02-2013, 09:18 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 11,017
Quote:
Originally Posted by REWahoo View Post
Sorry, I've got nothing for you. Your OMY demons are self-inflicted and entirely yours to tame.
+1

Sorry!
__________________
Meadbh is offline   Reply With Quote
Old 06-02-2013, 09:38 AM   #4
Recycles dryer sheets
 
Join Date: Jun 2011
Posts: 182
Sorry about the angst of this big decision. Not yet ER'd so I don't really have much to add re. the OMY. As far as your finances, I think having your S.O. continue to work part time and lowering your budgeted costs for healthcare (30k seems high to me for two persons) are two aspects to consider. I would also wait until the bigger home is sold to pull the cord. You might consider at least trying the work from home idea (what do you have to lose?). Good luck with the decision.
__________________
This is no social crisis, just another tricky day for you...
BigE is offline   Reply With Quote
Old 06-02-2013, 09:42 AM   #5
Thinks s/he gets paid by the post
Live And Learn's Avatar
 
Join Date: Feb 2012
Location: Tampa Bay Area
Posts: 1,688
Quote:
Originally Posted by BigE View Post
Sorry about the angst of this big decision. Not yet ER'd so I don't really have much to add re. the OMY. As far as your finances, I think having your S.O. continue to work part time and lowering your budgeted costs for healthcare (30k seems high to me for two persons) are two aspects to consider. I would also wait until the bigger home is sold to pull the cord. You might consider at least trying the work from home idea (what do you have to lose?). Good luck with the decision.
I current do get HI through DH, so the 30k is overstated at least for the next couple of years.

What scares me most is the 3.4% WR. But that has crept up from 3.2% over the past couple of months, because of my worry-wartedness
__________________
"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.
Live And Learn is offline   Reply With Quote
Old 06-02-2013, 09:43 AM   #6
Thinks s/he gets paid by the post
Live And Learn's Avatar
 
Join Date: Feb 2012
Location: Tampa Bay Area
Posts: 1,688
Quote:
Originally Posted by REWahoo View Post
Sorry, I've got nothing for you. Your OMY demons are self-inflicted and entirely yours to tame.
Yep - I hear that !!! They've just made it so tempting to stay on and 52 is still a very ER.
__________________
"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.
Live And Learn is offline   Reply With Quote
Old 06-02-2013, 09:46 AM   #7
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,074
I think maybe you should just keep on working as you will likely never be comfortable trying to survive living on your nest egg. Eventually you'll be forced to retire either by your employer or your failing health and will have to face your fears at that point, but no reason to torture yourself until forced to do so.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 06-02-2013, 09:57 AM   #8
Full time employment: Posting here.
 
Join Date: Dec 2010
Location: Southern California
Posts: 916
Live and Learn - hang in there, worrying is normal, go have a bloody mary ;-) I have not ER'd but thinking about options weekly.

Is it possible for you to take the RIF and find contract or part time work somewhere else? Depending on your field, you may have options more than others. The part time income can help smooth things over until you get more comfortable with things.
__________________
Aiming_4_55 is offline   Reply With Quote
Old 06-02-2013, 10:01 AM   #9
Moderator
Ronstar's Avatar
 
Join Date: Aug 2007
Location: A little ways southwest of Chicago
Posts: 9,341
I'd take the work from home gig for a while as a transition to ER. I'm doing one full day at the office and 4 - 3 hr days a week at home and its going well.

I noticed that the more I work from home, or with the less hrs I work, I feel more and more like pulling the plug totally. You'll probably find that the more "me" time you get, the more that you're going to want to retire.
__________________
Ronstar is online now   Reply With Quote
Old 06-02-2013, 10:18 AM   #10
Thinks s/he gets paid by the post
walkinwood's Avatar
 
Join Date: Jul 2006
Location: Denver
Posts: 2,676
You have a lot of factors to consider and the worry is rational.

Have you tried using a decision matrix? I've found that in the end, I make a gut decision, but the matrix really helps clarify the relative importance of each factor.

Tough decision, but look at the bright side. This is a good problem to have.
All the best.
__________________
walkinwood is offline   Reply With Quote
Old 06-02-2013, 10:31 AM   #11
Thinks s/he gets paid by the post
DFW_M5's Avatar
 
Join Date: Sep 2003
Posts: 4,980
Have you considered the new smaller home and associated expenses on your budget and will you be able to pocket any $s on the sale of the larger house. We are going through that downsizing step right now, and agree that just the decluttering and fixing up the house for sale is pretty overwhelming. Maybe that is contributing to your anxiety.
__________________
Doing things today that others won't, to do things tomorrow that others can't. Of course I'm referring to workouts, not robbing banks.
DFW_M5 is offline   Reply With Quote
You have choices
Old 06-02-2013, 10:37 AM   #12
Dryer sheet wannabe
 
Join Date: Jun 2013
Location: Victoria
Posts: 19
You have choices

I think you have more choices than you think. What is the possibility of working part time from home? What about half time? What about 3/4 time the first year and 1/2 time the second year? This may also help you get used to retirement. They want you to stay, this means you are in control. Dictate the terms that work best for you.
__________________
justlikebike is offline   Reply With Quote
Old 06-02-2013, 10:41 AM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 7,369
Quote:
Originally Posted by Live And Learn View Post

Yep - I hear that !!! They've just made it so tempting to stay on and 52 is still a very ER.
Live, I have followed your posts over the months and yes, you plan and worry. Trouble is planners always plan, and worriers always worry. Just think how bad the worrying will get when you are retired and have all day 24-7 to do it. No shame in delaying ER if you want to work. I continued on in a different PT job for 3 years until I my irrational fears of not having enough money were vanquished.
__________________
Mulligan is offline   Reply With Quote
Old 06-02-2013, 10:43 AM   #14
Recycles dryer sheets
 
Join Date: Jul 2010
Location: Torrance
Posts: 112
I love not working; it's the best.
__________________
bob boag is offline   Reply With Quote
Old 06-02-2013, 10:46 AM   #15
Moderator Emeritus
Bestwifeever's Avatar
 
Join Date: Sep 2007
Posts: 16,372
I think you want to continue working, otherwise you wouldn't be secondguessing yourself. So just continue working until you find yourself no longer secondguessing a decision to stop working. Then you'll know for sure.
__________________
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
Bestwifeever is offline   Reply With Quote
Old 06-02-2013, 10:52 AM   #16
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,827
If I was in your situation I'd probably work from home, but with the idea that if they started making life difficult (like making me go in one day a week) I would quit!

Bear in mind that I never had the opportunity to work 100% from home like that, and so I may be seeing that opportunity through rose colored glasses. I love the idea of zero commute and working barefoot in pajamas.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 06-02-2013, 10:54 AM   #17
Recycles dryer sheets
 
Join Date: Jan 2013
Location: Lafayette
Posts: 267
Quote:
Originally Posted by REWahoo View Post
I think maybe you should just keep on working as you will likely never be comfortable trying to survive living on your nest egg. Eventually you'll be forced to retire either by your employer or your failing health and will have to face your fears at that point, but no reason to torture yourself until forced to do so.
I agree. I've been on the forum reading your posts for a few months. I'm beginning to believe you really won't be happy in early retirement because of your money worries. Might as well keep on working. But I think what's important is to make a decision and stick with it. All this agonizing pre-decision is what's driving you crazy.

BTW, I thought you HAD made a decision to join the class of 2013?
__________________
gardenfun is offline   Reply With Quote
Old 06-02-2013, 12:04 PM   #18
Thinks s/he gets paid by the post
RockyMtn's Avatar
 
Join Date: Jul 2009
Location: North Scottsdale
Posts: 1,229
take the severance and access to healthcare. If ObamaCare craps out you are covered through megacorp. If you are still haunted after a few years get another job.

Getting paid not to work is one beautiful thing!
__________________
FIRE'D in July 2009 at 51...Never look back!
RockyMtn is online now   Reply With Quote
Old 06-02-2013, 12:13 PM   #19
Thinks s/he gets paid by the post
Katsmeow's Avatar
 
Join Date: Jul 2009
Posts: 3,394
My recollection was that you had set up your portfolio by leaving out certain amounts that are set aside for certain contingencies and that you are very conservative in counting your budget.

I also would not like giving up the unsubsidized healthcare by working for the extra years.

That said, yes, having another $175k extra to spend later on is nice. The thing to think about is that working more will almost always give you more to spend later on. I went to semi-retirement 3 years ago and it did make things easier. However, as I now think about fully retiring, there is always that voice in the back of my head that if I continue working (now very part-time) for another X months that I will Y amount more to spend later. And -- that is how I've ended up working 3 extra years when I really originally thought it would be a much shorter period of time.

No matter when I think about finally retiring, it will always be the case that if I work a little more I will have more later to spend.

the thing that is important is to decide when I have enough. If I have enough, then the balance switches to favor retiring fully.

Deciding to work longer is not cost free. That is, every extra day you work is less time that you aren't working.

Obviously only you can determine if you have enough or not.
__________________
Katsmeow is offline   Reply With Quote
Old 06-02-2013, 12:14 PM   #20
Thinks s/he gets paid by the post
ivinsfan's Avatar
 
Join Date: Feb 2007
Posts: 2,198
As a dedicated worrier myself, I understand what you are feeling. Thread like this are a big help to me because then I see that I am not alone.
I've also noticed that a choice like yours where is not one "right" answer are the most difficult. I also throw in too many "what-ifs". It muddies up the water so much it's hard to think things through.
Have you consider finding someone to talk about why you worry so much, if you have a little more clarity about why you are so fretful it might help you. I've read lots of how to stop worrying books and none of them seem to work for me. Good Luck
__________________

__________________
ivinsfan is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 08:04 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.