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Old 04-16-2010, 08:36 AM   #41
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Reminds of a manager in megacorp who "quit" out of fustration with his boss; only to beg for his job back. He was demoted and worked for several years for promoted underling.

Some have no pride.
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Old 04-16-2010, 11:09 AM   #42
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Midpack:

You are at burn out. You have several choices:

Quit
Quit, and look for a different career
Suck it up, and continue working, so you feel more comfortable about your nest egg

If you can't make a decision among those, then, you need to stay where you are and find a way around those things that bother you the most about work. If you can't see your way around those emotional obstacles, you have two other choices:

Seek counseling
Quit

How would you like to spend the rest of your life? In 40 years you won't be saying, I should have stayed on to help the others who I left behind at work. Guaranteed.

Been there, done that. Retired now.
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Old 04-16-2010, 11:31 AM   #43
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I'm thinking I need retire and plan on another job/career. Wrestling with:
a) retiring with no plan since we can afford to never work again, decompressing and then looking for work
VS
b) deciding what I would rather do and then retiring and moving directly from this career to the next with essentially no break.
I think whatever you do, a break is in order. Decompressing (which takes at least 6 months) really helps refresh everything so you can see your life with new eyes and be open to far more possibilities than you can be while bogged down at work. You can catch up with a lot of personal stuff in the meantime, thus clearing the decks for any future move.

Think of it as a sabbatical.

Personally, I think it's OK to retire, take a break, and then try to figure out what is that next career and start seeking the work.

It just seems really hard to do that while working. However, it's not impossible if you can at least extricate yourself from the 100% demands of the current job. But if the current job is NOT taking all your creative energy, then maybe you can figure this out while still working - if it is important to you to do it that way.

Audrey
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Old 04-16-2010, 11:37 AM   #44
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Personally, I think it's OK to retire, take a break, and then try to figure out what is that next career and start seeking the work.
I would agree with this. Normally I'd caution that it's not really a good time to be leaving a j*b if you may have to work again at some point, since this isn't the best of times to be a job seeker. But since it was disclosed that he can "afford to never work again," that becomes less of a concern.
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Old 04-27-2010, 09:56 PM   #45
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Well - any further thoughts on your situation?

Audrey
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Old 04-28-2010, 04:45 PM   #46
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Well - any further thoughts on your situation?

Audrey
Nothing, still a deer in the headlights. It all comes down to how much is enough FI security? All the numbers makes sense, but I can't get past the 'never too much' mindset. Thanks for asking, who knows maybe I'll be braver tomorrow...
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Old 04-28-2010, 04:56 PM   #47
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It's a lot easier to pull the plug when you have more than you need, like I did.

(You can imagine footage of me gleefully jumping out of an airplane and laughing maniacally while pulling that ripcord with a loud "RIPPPP!!" sound, and not a care in the world.)

The only thing is that the time can never be regained. If the difference was ten seconds, I would wait and I wouldn't care. If it was 20 years, I would care. Somewhere between ten seconds and 20 years lies the "sweet spot" representing what that sense of financial security is worth to me. For me it was either wait a couple of years, or not, and I guess I am glad I waited. But if I had had to wait much longer I would really regret it.
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Old 04-28-2010, 08:58 PM   #48
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In "worst case scenario" can you make it on 50% of your planned WR? If so, I'd pull the plug. If not, then no advice from me - might still be good to pull it or maybe not - I just don't know... I think when the time comes for me to decide, I'd like to plan for twice the bare-minimum amount to give me that balance...
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Old 04-28-2010, 09:22 PM   #49
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Midpack, I read your post about possibly going back to work but doing something else. So, are you really ready to retire, or just burned out at the current job? If your financial condition is like you describe, then perhaps you are afraid of the question "What are you gonna do all day"!

I would say it is safest for you to continue your work for a little while, while pondering to see what you really want to do.
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Old 04-28-2010, 09:23 PM   #50
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Obviously, Midpack is not completely ready to pull the plug as he's having some doubts and reservations.
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Old 04-28-2010, 09:27 PM   #51
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And there is nothing wrong with waiting for a while even if retirement is "all figured out".

Audrey
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Old 04-28-2010, 11:14 PM   #52
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Obviously, Midpack is not completely ready to pull the plug as he's having some doubts and reservations.

Well, that is true but in a way begs the question. That is, any time someone raises possible reservations you could always justify it as just not being ready.

And sometimes those reservations make actual sense and are well founded.

Other times, reservations may reflect more fear of the unknown or even an overly conservative outlook that is, well, not helpful.

I am not saying that is the case with Midpack. This is more a philosophical point.

I remember sometimes my aunt and uncle. They were retired and had social security. They had never earned a great deal so there social security wasn't a lot. They did have a paid for house that they had lived in for over 50 years that wasn't updated. It had a tiny single bathroom. And there was certainly a case to be made for enlarging the bathroom (could have built on to the back of the house) including the entry to the bathroom. Or, maybe they could moved to even a different house.

But my aunt was frugal and was concerned she wouldn't have enough money(for her old age?) if she did that. On the surface based upon what I just said those doubts and reservations may have seemed reasonable.

In reality? They were not wealthy but had several hundred thousand dollars sitting in CDs that they never used. They were over 90 years old. My aunt had had both legs amputated do to illness. The bathroom door was too narrow for a wheelchair which meant her over husband had to carry her to the bathroom. Yet, she couldn't allow herself to spend the money to end her final years in a modicum of comfort.

So there is not being ready...and then there is being...well overly cautious.

There has to be balance at some point between not being foolhardy and yet realizing that you only get so much time in life and we never know how much time it is.
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Old 04-28-2010, 11:28 PM   #53
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Good grief! I have heard of people like that. In fact, some friends of my parents were nearly as frugal. Even my own mother often frets about the cost of living, yet we know she has money stashed away. Although she is not rich, my mother has enough assets to last for another 75 years at her spending rate, which is supplemental to her pension and SS !

Back to Midpack, I don't think it is financial concern. It's probably just high inertia. Many engineers are like that. I am one. We don't want changes. For example, I think more engineers stay married to their 1st wives than the general population (someone please correct me if statistics prove me wrong).
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Old 04-29-2010, 01:06 AM   #54
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Back to Midpack, I don't think it is financial concern. It's probably just high inertia. Many engineers are like that. I am one. We don't want changes. For example, I think more engineers stay married to their 1st wives than the general population (someone please correct me if statistics prove me wrong).
There is definitely some fear of the unknown. I know that is part of my ER butterflies I posted about in another thread.
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Old 04-29-2010, 04:58 PM   #55
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Back to Midpack, I don't think it is financial concern. It's probably just high inertia. Many engineers are like that. I am one. We don't want changes. For example, I think more engineers stay married to their 1st wives than the general population (someone please correct me if statistics prove me wrong).
This is accurate. I'm 56 YO and we're at 2.6% WR on planned expenses of 20% more than our past several years actual expense. Plenty of safety factor IMO. Work has lost it's charm, but I am well paid, getting glowing reviews and can do the job in my sleep. It's just a question of why not continue to take the money and be even more ridiculously secure? And I don't know what I want to do as a second career, I think I need to figure that one out, and maybe that will put me into the next chapter in life. Thanks for all your kind thoughts/words...
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Old 04-29-2010, 05:11 PM   #56
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I think that you can be completely prepared, and not make the move. Nothing wrong with that. And at some point the timing becomes clear or there is a eureka moment and you realize you are more than ready and out of there yesterday! It's fine to let the status quo ride for a while before taking the plunge. The fact that the prep work is already done is a huge factor in your favor - you can then make the move whenever you choose, and quickly too!

Audrey
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Old 04-29-2010, 08:00 PM   #57
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And at some point the timing becomes clear or there is a eureka moment and you realize you are more than ready and out of there yesterday!
This metaphor is a bit more elegant than the BS bucket analogy...
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Old 04-29-2010, 08:10 PM   #58
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Midpack,
I was FI for several years before I retired . I just was not mentally ready and that is just as important as being financially ready . You'll know when it's time . Fifty six is still young !
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Old 04-29-2010, 08:45 PM   #59
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I've been away from this thread for a while. My employer granted me a trip to NOLA for a conference. I was energized and ready to take on the world . . . .until I got on the plane to return home. Then I realised nothing had changed back at the office.

I had an interview today. These have been painful in the past. I interview well, but eventually they start round aboutly inquiring about my age. I swear, once your past 45, it's very difficult to move. I really don't know where this interview will go, but win loose or draw I'm going to pull the ejection seat handle this summer, by some means (leave of absence or just give them an end date).

I can really identify with Midpack
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Old 04-29-2010, 09:20 PM   #60
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Here's a good exercise for you Midpack! - List of 10 Reasons - Should I Stay or Go

And you will probably enjoy her conclusion:
Quote:
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Bottom line is: I will RE when I darn well feel like it. In the meantime, I'm not taking any cr*p.
Audrey
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