golfnut
Full time employment: Posting here.
Back in November 2007, I posted the following:
_______________________________________________________________
Just a little background about me.
- Married 52 years old, married DW is 49 and one child who is 14.
- I work for large (megacorp) company, employed as a manager. Been with the same company for 18yrs. Will be eligible for a Non-Colad pension of approx. $9,000 per yr and subsidized healthcare at age 55. However, very bored with job plus the office is very Dilbert-like (i.e. unnecessary meetings, buzzwords etc...)
- Wife works part time for library. No benefits. She could take or leave her job as well.
- We have a 15 yr mortgage at 4.75% and are 4 yrs into it. $90,000 balance. House worth about $550,000. No other debt.
- Presently have $75,000 in a 529 plan for our son's college expense.
- In addition, we have approx. $250,000 in taxable (mix of MM and MFs) and about $950,000 in tax deferred (401k and various IRAs). Overall mix is 50% equities, 25% bonds and 25% cash. Of the equities, 30% is in int'l funds. Almost all funds are with Vanguard (including 401K).
- We presently spend about $75,000/year.
I realize the prudent thing for me to do is work (suck it up) the next 3 yrs at my present employer so I qualify for the pension and the subsidized HC benefits. However, I am not sure I can handle my job for another 3 yrs as it has become brain numbing. Unfortunately, a day does not go by without me thinking of being free of this place. Sometimes, I (along with my wife) wonder if we should just quit, down size our home and just FIRE (or maybe find part time jobs we both enjoy).
I would think alot of people are in our shoes or have been. Any thoughts or musings would be appreciated on this cold Sunday evening.
________________________________________________________________
Well I made it (just turned 55). Alot of cr@p happened in the meantime.
Got older!
Non-colad pension is now worth $8,100/year.
There were layoffs in 2009, I survived them but got demoted but maintained my wage.
Subsidized healthcare is now available to me - would need to pay approx. $9,600 per year for a family of three.
Balance on mortgage is now $62,700 and have a heloc with balance of $20,000.
529 plan is now at $88,500. Son will start college in 2011. Will be in state public college.
Survived the 2008 market massacre but stayed the course with approx. 48% equity, 34% bonds and 18% (chicken
) cash). Portfolio approx $1.3mm.
If I do decide to FIRE, I can now take dist. (if necessary) from my 401k penalty free.
- Expenses are around $80,000 including taxes.
I want to take the time to thank all the individuals who advised me to hang in there in order to qualify for the hc benefits. It wasn't easy ! But now I feel like I have some add'l options I did not have prior to turning 55 yrs old.
This forum is the best!
Regards,
Golfnut
_______________________________________________________________
Just a little background about me.
- Married 52 years old, married DW is 49 and one child who is 14.
- I work for large (megacorp) company, employed as a manager. Been with the same company for 18yrs. Will be eligible for a Non-Colad pension of approx. $9,000 per yr and subsidized healthcare at age 55. However, very bored with job plus the office is very Dilbert-like (i.e. unnecessary meetings, buzzwords etc...)
- Wife works part time for library. No benefits. She could take or leave her job as well.
- We have a 15 yr mortgage at 4.75% and are 4 yrs into it. $90,000 balance. House worth about $550,000. No other debt.
- Presently have $75,000 in a 529 plan for our son's college expense.
- In addition, we have approx. $250,000 in taxable (mix of MM and MFs) and about $950,000 in tax deferred (401k and various IRAs). Overall mix is 50% equities, 25% bonds and 25% cash. Of the equities, 30% is in int'l funds. Almost all funds are with Vanguard (including 401K).
- We presently spend about $75,000/year.
I realize the prudent thing for me to do is work (suck it up) the next 3 yrs at my present employer so I qualify for the pension and the subsidized HC benefits. However, I am not sure I can handle my job for another 3 yrs as it has become brain numbing. Unfortunately, a day does not go by without me thinking of being free of this place. Sometimes, I (along with my wife) wonder if we should just quit, down size our home and just FIRE (or maybe find part time jobs we both enjoy).
I would think alot of people are in our shoes or have been. Any thoughts or musings would be appreciated on this cold Sunday evening.
________________________________________________________________
Well I made it (just turned 55). Alot of cr@p happened in the meantime.
Got older!
Non-colad pension is now worth $8,100/year.
There were layoffs in 2009, I survived them but got demoted but maintained my wage.
Subsidized healthcare is now available to me - would need to pay approx. $9,600 per year for a family of three.
Balance on mortgage is now $62,700 and have a heloc with balance of $20,000.
529 plan is now at $88,500. Son will start college in 2011. Will be in state public college.
Survived the 2008 market massacre but stayed the course with approx. 48% equity, 34% bonds and 18% (chicken
) cash). Portfolio approx $1.3mm.If I do decide to FIRE, I can now take dist. (if necessary) from my 401k penalty free.
- Expenses are around $80,000 including taxes.
I want to take the time to thank all the individuals who advised me to hang in there in order to qualify for the hc benefits. It wasn't easy ! But now I feel like I have some add'l options I did not have prior to turning 55 yrs old.
This forum is the best!
Regards,
Golfnut
