Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Mid year review of my OMY plan
Old 07-04-2014, 10:52 AM   #1
Recycles dryer sheets
Join Date: Aug 2010
Posts: 315
Mid year review of my OMY plan

My original plan is to give my notice on 7/1/2014 though we have un-exercised stock options, currently valued around $150K. That would be taxed as ordinary income.

Looks like it is better to exercise them the first of next year and leave that to be the main income for 2015, instead of this year. I am putting a collar trade in case company stock drops between now and 1/1/2015.

This means, we have to adjust our plan to keep working for 6 more months. We will take a 3 week vacation and enjoy the slow time during the holidays. So, this might be tolerable.

This will also mean, that we will use Cobra in 2015 as our health care and use ACA in 2016 without subsidy. We will then see if we can get some refund thru 2017 tax return, if ACA is still there. This is likely too far out to plan for now.

fh2000 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 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 07-04-2014, 12:02 PM   #2
Thinks s/he gets paid by the post
Join Date: Jun 2007
Posts: 2,382
The plan sounds great. Your adjustments seem well thought out. Good luck.

growing_older is offline   Reply With Quote
Old 07-04-2014, 12:59 PM   #3
Recycles dryer sheets
Join Date: Jun 2012
Posts: 80
I like the idea of pushing a known block of income into next year, it is very smart tax wise.

I am planning on doing a similar thing, working another 6 months and then selling some real estate next year. While it will at times be difficult to keep on keeping on with work, likely the days will fly by and be gone before we both know it.
Daniel J is offline   Reply With Quote
Old 07-04-2014, 01:25 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
Join Date: Nov 2010
Location: Vermont & Sarasota, FL
Posts: 13,194
I had over six weeks of accrued vacation so I resigned effective in February but was on vacation and holiday from Christmas and put 100% of my income from January 1 onwards in my 401k so I had no taxable earnings for the year I retired.
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
pb4uski is online now   Reply With Quote

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

Similar Threads
Thread Thread Starter Forum Replies Last Post
Poll: OMY - how many? REWahoo FIRE and Money 85 01-26-2014 05:47 AM
Avoiding OMY Syndrome Article hiker88 FIRE and Money 31 08-17-2013 05:54 PM
OMY is the hardest fh2000 Other topics 9 06-16-2013 09:47 AM
Variant of OMY syndrome?? Update. mystang52 Life after FIRE 21 02-24-2013 10:41 AM
Mid Term Review time golfnut FIRE and Money 26 09-15-2010 02:26 PM


All times are GMT -6. The time now is 02:26 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.