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New milestone for us
Old 12-22-2010, 10:25 AM   #1
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New milestone for us

With my husbands large bonus, and the market uptick, we hit 1.4 (plus!). He will still get a 401k bonus as well in January (maybe another 15k?). We pull the plug at 1.5 for sure. :-)

We each max out 401K, plus put away another 50k each year so I am hoping we are on target for April 2012 date to walk away. I get my bonus in April, plus my stock options vest hence that month as a date.

I am so ready to stop the madess. :-)
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Old 12-22-2010, 11:09 AM   #2
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Congrats!

I've decided on a number, but instead of full retirement when we hit the number going up, I'm gonna retire when we hit the number coming back down.
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Old 12-22-2010, 11:58 PM   #3
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Congrats!

I've decided on a number, but instead of full retirement when we hit the number going up, I'm gonna retire when we hit the number coming back down.
Are you saying you are never going to retire permanently or are you predicting another major smack-down?
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Old 12-23-2010, 02:18 AM   #4
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With my husbands large bonus, and the market uptick, we hit 1.4 (plus!). He will still get a 401k bonus as well in January (maybe another 15k?). We pull the plug at 1.5 for sure. (snip)
One-point-four what? Million?
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Old 12-23-2010, 07:44 AM   #5
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Congrads, but don't get too excited. The last year and a bit can be excruciatingly long if you count the days, hours and minutes.

I would spend this time realistically evaluating what you will do once FIRE. FIRE can be a little difficult after the honeymoon. But if your ready, its much easier.
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Old 12-23-2010, 08:05 AM   #6
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That is awesome, I'm quite envious.

BTW here is her hello post, to save others the trouble of stampeding into her profile to get more info:

I am 54, hub is 56, and we are thinking of retiring no later than April 2012. I have a large bonus that is paid in April, as well as stock options that vest (and are very low priced) so timing to take advantage of those sources of income.

We have about 1.4M and I have run firecalc a number of times. We both have been low 6 figure wage earners so our SS numbers are good, even if they end up delayed.

Our only wild card is college is my husband's youngest kid (Jr in HS). We are encouraging her to attend a university in Canada which is excellent and will save us 20K per year. Her dad will never say no, so if she chooses another one that costs 50-55K he will have to keep working. Sort of a shame, but that is up to him.
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Old 12-23-2010, 08:17 AM   #7
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One-point-four what? Million?
No, they probably mean 1.4 hundred or 1.4 thousand.
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Old 12-23-2010, 09:30 AM   #8
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Haha! 1.4M or 1,410,000.00 to be exact in both cash and retirement funds.

Yes hard to tell how we will feel as a couple. I took a year off once (about 4 years ago) and felt fine, so I think I will be OK. I filled my days and would have gladly stopped working then if the finances made sense. My husband is the one that will have issues. I think it will be difficult for him and he has said as much. If he wants to take a year off to try it, and then go back, I am OK with that. We spend a lot of time talking about what it will be like, what we want to do, etc. We both really love travel so are setting aside a chuck to do a lot to start.

He would be able to contract back really easily if he wants to work again, they totally love him at work and the company has a separate contract back company that handles everything....he worked for them once before and they provide 401k, vacation, and access to benefits.

Yes, I agree it does seem to drag on, but one good thing is that my employer provides a 6 week sabbatical every 4 years so I get 6 weeks off starting Aug 2011. That will break up this last 18 months.
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Old 12-23-2010, 10:33 AM   #9
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Haha! 1.4M or 1,410,000.00 to be exact in both cash and retirement funds.

Yes hard to tell how we will feel as a couple. I took a year off once (about 4 years ago) and felt fine, so I think I will be OK. I filled my days and would have gladly stopped working then if the finances made sense. My husband is the one that will have issues. I think it will be difficult for him and he has said as much. If he wants to take a year off to try it, and then go back, I am OK with that. We spend a lot of time talking about what it will be like, what we want to do, etc. We both really love travel so are setting aside a chuck to do a lot to start.

He would be able to contract back really easily if he wants to work again, they totally love him at work and the company has a separate contract back company that handles everything....he worked for them once before and they provide 401k, vacation, and access to benefits.

Yes, I agree it does seem to drag on, but one good thing is that my employer provides a 6 week sabbatical every 4 years so I get 6 weeks off starting Aug 2011. That will break up this last 18 months.
My company offers the same 6-week sabbatical benefit. It's great, unless you're 3.5 years away from such sabbatical (like me). Personally, I'd prefer having much more time off during the intervening years and skip the sabbatical. There's very little I can't do in a 2-week period, which is the maximum I would/could take as vacation at one time.
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Old 12-23-2010, 12:08 PM   #10
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I enjoyed my last 8 months at work.

Once I told my boss I was leaving I stopped trying to pretend that I was planning a career with the company and could focus on doing the parts of the job I liked. I ended up working longer than planned because I happened to have a fun project to work on and my boss was having trouble finding a replacement (that always makes you feel good).
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Old 12-23-2010, 01:07 PM   #11
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> It's great, unless you're 3.5 years away from such sabbatical (like me). Personally, I'd prefer having much more time off during the intervening years and skip the sabbatical. There's very little I can't do in a 2-week period, which is the maximum I would/could take as vacation at one time.

I totally agree! We only get 2 weeks, while my husband has 4 weeks. I have taken unpaid vacation just so we can vacation together. Frustrating.
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