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Mid year review of my OMY plan
Old 07-04-2014, 10:52 AM   #1
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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.

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Old 07-04-2014, 12:02 PM   #2
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The plan sounds great. Your adjustments seem well thought out. Good luck.

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Old 07-04-2014, 12:59 PM   #3
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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.
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Old 07-04-2014, 01:25 PM   #4
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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.
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Slow and steady wins the race.

Retired Jan 2012 at age 56...60/35/5 AA
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