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Old 06-07-2014, 04:21 PM   #541
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True about excuses and OMY justifications mrfeh. Did not start thinking ER till a couple of years ago. My psyche is conservative and a bit paranoid. Logically I can see my path of retire. Feeling at ease with using WR, ratios, estimated future expenses etc.. is taking me a while.
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Old 06-07-2014, 04:30 PM   #542
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A minor, yet crucial ER related milestone reached lately. DW and I have agreed that after a nice little Vancouver Island holiday celebrating our anniversary I will be giving notice of resignation to my employer upon my return to the city - this will happen around mid-July. It looks like October 1st will be my last day of work. A completely new chapter in my life starts in my 42nd year. I expect the next several months to CRAWL by.

The next major milestone will be deciding when my wife joins me in ER... she seems intent on working until 50. Hope to convince her otherwise.
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Old 06-07-2014, 04:44 PM   #543
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Wow! Congrats! I bet that decision took some guts. It sounds like your job is really bringing you down right now. I feel your pain.
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Old 06-07-2014, 04:53 PM   #544
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Wannabe, my life is pretty amazing in every aspect EXCEPT my job - once that is dealt with, I can only imagine how great things will be. Still have months to go, and still have to submit my resignation (this will be hard for me) but I already feel like a massive weight has been removed from my shoulders.
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Old 06-09-2014, 07:06 AM   #545
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FireCalc actually gives me a $100% chance of success of retiring right now, at the age of 44, with my $980K portfolio, and a $40K per year SWD. This assumes ~$12400 per year in SS starting at age 62, and a $349/mo non-COLA'ed pension at 65, and living to 100.
What time frame did you use in FireCalc? If you use 40+ years, you might be excluding some interesting time frames in the '80s that could have made things not as rosy.
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Old 06-09-2014, 07:07 AM   #546
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Past $800k savings and investments for the first time. Assuming I'll dip back under again soon.
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Old 06-09-2014, 07:17 AM   #547
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What time frame did you use in FireCalc? If you use 40+ years, you might be excluding some interesting time frames in the '80s that could have made things not as rosy.
+1

At first blush, I wouldn't think you'd get 100% success with those numbers.
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Old 06-09-2014, 09:07 AM   #548
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What time frame did you use in FireCalc? If you use 40+ years, you might be excluding some interesting time frames in the '80s that could have made things not as rosy.
Just to be safe, I ran some shorter timeframes to see what would happen, and here are the results...

30 years (2044): 97.4% chance of success
35 years (2049): 95.4%
40 years (2054): 95.2%
45 years (2059): 93.9%
50 years (2064): 96.8%
55 years (2069): 97.4%
56 years (2070): 97.7%

So it looks like in rerunning the numbers, I was off a bit. Must have input something wrong the first time around, to manage to get that 100%.

The potential for little boo-boos like that are another reason I want to build up a bit more padding. I'm shooting for a success rate of at least 95%...but I think I could handle 93.9%. Close enuff for government work!

Also, my success rate jumped up seriously, just in the past year and a half because of the market. When I ran some numbers back in early 2013, I only got a 78.6% chance of success in retiring at 44. I ran them again at the beginning of this year, and got 87.4%. So seeing 100%, or even 97.7% now, just 5 months later, does seem too good to be true. I'll keep re-running the numbers as I get closer to actually pulling the plug. And, just to be safe, I'll run a shorter scenario here and there as well, such as 35, 40, 45 years, to make sure there are no steep drop offs.
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Old 06-09-2014, 11:19 AM   #549
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We (barely!) crossed $900k in investments and savings yesterday for the first time. Some looming expenses this summer mean we're all but guaranteed to go below that threshold soon, but hopefully that will be the last time we cross it going the wrong direction!
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Old 06-09-2014, 12:57 PM   #550
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I turned in my 2 week notice today.

That's a HUGE milestone.
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Old 06-09-2014, 01:10 PM   #551
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Congratulations!
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Old 06-09-2014, 01:28 PM   #552
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I turned in my 2 week notice today.

That's a HUGE milestone.
congrats!
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Old 06-09-2014, 02:35 PM   #553
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I turned in my 2 week notice today.

That's a HUGE milestone.
Nice!
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Old 06-09-2014, 03:47 PM   #554
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I turned in my 2 week notice today.

That's a HUGE milestone.
The question of how much notice I need to give to my employer is something I'm wrestling with. I've been with this company for almost 25 years, and like to think I have evolved into a vital cog in the whole enterprise.

Would it be innapropriate to give two weeks notice? I was thinking of giving about 2 months notice. My wife brought up the good point that they might decide to let me go right there on the spot - I'd be out 4 paydays that I'd like to use to pad the savings before I'm done.

Hopefully they would view the two months notice favourably, and use it as an opportunity to train someone to take my place.
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Old 06-09-2014, 10:38 PM   #555
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The question of how much notice I need to give to my employer is something I'm wrestling with. I've been with this company for almost 25 years, and like to think I have evolved into a vital cog in the whole enterprise.

Would it be innapropriate to give two weeks notice? I was thinking of giving about 2 months notice. My wife brought up the good point that they might decide to let me go right there on the spot - I'd be out 4 paydays that I'd like to use to pad the savings before I'm done.

Hopefully they would view the two months notice favourably, and use it as an opportunity to train someone to take my place.
I'm a technical developer. I'm not management. The corporation has made it clear they consider engineers and software developers to be interchangeable commodities.

As they've laid off over 5k people in the last few years - people just as talented as me - but assigned to the wrong product - they gave severance and 1 week notice. That 1 week is up from 5 years ago when they used to escort people out at the time of layoff.

I have historical knowledge of products and problems - but so do some of my coworkers. (I'm in a very tenured group.)

If I was an exec, or senior management... maybe I'd feel obligated to give more notice. But 2 weeks is pretty standard around here.
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Old 06-10-2014, 05:44 AM   #556
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Originally Posted by Sea Kayaker View Post
The question of how much notice I need to give to my employer is something I'm wrestling with. I've been with this company for almost 25 years, and like to think I have evolved into a vital cog in the whole enterprise.

Would it be innapropriate to give two weeks notice? I was thinking of giving about 2 months notice. My wife brought up the good point that they might decide to let me go right there on the spot - I'd be out 4 paydays that I'd like to use to pad the savings before I'm done.

Hopefully they would view the two months notice favourably, and use it as an opportunity to train someone to take my place.
I agree with Rodi that your position in the company is a factor in what notice is appropriate. But, from the tone of your post and question, it seems like you think it's appropriate to give more notice; if that's the case, then do so. You can only be responsible for your actions, not the employer's. They have to choose their reaction, and whatever it turns out to be is not your responsibility. In other words, do the right thing for the right reasons, and assume your employer will do likewise.
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Old 06-10-2014, 10:48 AM   #557
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Whoo Hoo!!! DW and I are debt free for the first time in over 30 years. The mortgage will be paid off today. No car payments. Both kids done with college and living on their own. Hoping to be able to downshift in 2015.
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Old 06-10-2014, 08:02 PM   #558
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This is a big milestone for me. I've just paid off my mortgage. I'm starting the process of moving and am able to buy a house before selling for the first time in my life. Yes, a bit risky but better (and far less expensive) than selling too quickly and having to move twice and rent. It feels good to have the luxury of taking my time to find the house I really want.
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Old 06-10-2014, 08:18 PM   #559
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Congrats 3800Fiero and Marita40 on your mortgage payoffs. That must feel mighty liberating!
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Old 06-10-2014, 08:44 PM   #560
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Thanks ShortinSeattle. This feels like the biggest accomplishment so far to reaching ER.
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