That was quicker then I expected. Maybe a year earlier

[whitestick]

Just heard from MegaCorp that they are offering an ERO, and I may qualify. I had originally planned for another year and haf to go, so the timing is perfect. Sort of. Now I have to face the actuall decision of doing it, and all of the self-doubts of did i understand the things that I read on this forum, and did I plan it right. yada, yada, yada.
I know on paper it says yes, but still, it's disconcerting. When it still was over a year away, it fealt like I had time to accept it, and ease into the acceptance. Now, it's happening, and I'm still a couple of major items away - selling the house to downsize, and paying down some bills to reduce my monthly cash needs.
Remembering others stories, Nords, UncleMikey, etc., by comparison, mine is a minor choice, but still it is hitting me, and of course DW. I can see some long talks around the kitchen table over the next month, to get us both comfortable with this.
Anyway, looks like I'm rushing to join the RE ranks, and hopefully its the FI side as well

 

[chinaco]

DW and I just went through the same exercise for her. We decided to take it. I still have a few years before I can ER. I doubt my company will offer that type of deal. Although, I wish they would.

 

[Coach]

Whitestick, I am jealous! An ERO would probably get me off the dime -- alas, no chance.

Good luck in your decision.

Coach

 

[travelover]

Congratulations. Run the numbers carefully and take it from there. It is a little like jumping from an airplane - it helps if you packed your own 'chute!

I'm still in my first year of ER but happy as a clam, spending less that I anticipated and busier than I could have imagined - but in a good way.

 

[Nords]

Congratulations on taking the money and running!

Anyway, looks like I'm rushing to join the RE ranks, and hopefully its the FI side as well

One out of two still makes you a winner, and I doubt that all the "good" jobs will be taken if you opt for a "Work Less, Live More" approach...

IMO the ER part gave us a lot more time to analyze our situations: financially, home & mortgage, scrubbing the bills & insurance, emotionally, physically & lifestyle. We were confident enough that we'd hit the "9" circle when I ER'd but after a couple more months of reviews & tweaking (along with the rest of the ER lifestyle) we knew that we'd punched out the center of the "10" with the entire clip.

Once you stop showing up at the office you'll have enough quality time to prove to your satisfaction that you won't need to go back. It's the world's best self-fulfilling prophecy!

 

[packrat44]

Now I have to face the actuall decision of doing it, and all of the self-doubts of did i understand the things that I read on this forum, and did I plan it right. yada, yada, yada.

Your self-doubting is natural. We have all gone through the same concerns. I didn't retire until 62. If I had found this forum earlier I would have FIREd myself several years earlier. It's the pits, we can't go back for a "redo".

 

[W2R]

I'm still in my first year of ER but happy as a clam, spending less that I anticipated and busier than I could have imagined - but in a good way.

I am a couple of years from ER and that is so encouraging! Thank you.

 

[Dawg52]

You will be fine. The adjustment period is different for all but it was much less than I thought it would be. I play a lot of golf and retired in April so it was perfect timing for me. Didn't have any days wondering 'what am I gonna do all day?'

 

[ScottFromUtah]

Before I announced my retirement to my department, I agonized over everything. I ran FIRECalc dozens of different ways. I used the retirement calculator spreadsheet give out by our benefits office. I considered DW's and my goals, our current state of our health (not the greatest), and our considerable committed outlay (income taxes, property taxes, utilities, travel expenses, etc., all of which are high, very high). In the end, we decided to make the ER plunge because (1) the numbers looked okay by most scenarios, (2) we are willing to cut back on our standard of living, and (3) if, in the first few years, we find that we are spending too much, we have some drop-back positions.

So, have faith, and jump!

 

[Goonie]

Just heard from MegaCorp that they are offering an ERO, and I may qualify. I had originally planned for another year and haf to go, so the timing is perfect. Sort of. Now I have to face the actuall decision of doing it, and all of the self-doubts of did i understand the things that I read on this forum, and did I plan it right. yada, yada, yada.
I know on paper it says yes, but still, it's disconcerting. When it still was over a year away, it fealt like I had time to accept it, and ease into the acceptance. Now, it's happening......

Been there, done that! I had been planning for many years to retire @ 55. In Feb. '06 the rumor leaked out that my employer was offering an ER incentive. I confirmed the rumor, by going to the top dog and asking whether it was fact or fiction. I was told it was a fact, and given the "window" dates. I qualified, accepted, and FIRE'd this past April @ 50!!!

I had everything planned and calculated for the 55 date, but re-planned and re-calculated.....over and over and over again....and finally accepted that the numbers didn't lie, and that I'd be OK! The last 12 months on the j*b went FAST....REAL FAST! Over 5 months in now, and it's been as smooth as silk!

Like they say at the Golden Arches....."I'm Lovin' It!"

 

[Dog]

Goonie,

How nice for you. Usually Megacorps wait until the last minute to share RIFs or Early Out packages with employees (and don't want anything in writing unless it comes from HR or legal).
So, it helps to have Option 2 (and 3) in your back pocket.

10 months 3 weeks to go.... (yes, I'm counting!)

 

[tightasadrum]

These are all encouraging stories for a soon to RE like me. But has anyone on this board had a less successful outcome after pulling the ripe cord into RE?

 

[Goonie]

10 months 3 weeks to go.... (yes, I'm counting!)

From the date that I confirmed the ERI rumor, until my last day there, I put a "Post-It" note on my office door with the number of days remaining 'til I pulled the plug! It REALLY annoyed my boss.....only because he wasn't counting his own days! He qualified for the ERI, but he liked being a big [-]sh*t[/-] shot more....poor guy!

I never got down to the last day, because I walked out 3 days early.......the needle on the B.S. meter was 'pegging', and I decided it was time to exit before I said something that they would live to regret. And that annoyed the boss even more!

 

[Goonie]

These are all encouraging stories for a soon to RE like me. But has anyone on this board had a less successful outcome after pulling the ripe cord into RE?

One of my former co-w*rkers ER'd about 9 or 10 years ago, at age 54, and his DW did likewise from her j*b. Although he got a decent pension, he hadn't saved anything, they always lived WAY BEYOND their means, he also had loans for a car, a truck, and a motorcycle, and they had taken out a home equity loan for some remodeling. About 4 months into ER he got a part-time j*b a few hours a week. That didn't bring in enough $$, so he went to w*rk full-time mowing grass (with a push mower ) for his ex-SIL's brother who owns a lawn maintenance service. His DW also had to go back to w*rk at her former employer.

His ex-SIL said about a month ago that they had finally just gotten their heads above water......and then turned right around and took out a loan for a new fully-loaded $35K+ truck, and they're looking at another new car too, because they're trying to keep up with the Joneses! It wouldn't be bad IF they had the means, but they don't. But the Joneses that they're trying to keep up with, have MORE than enough means!!! I guess he just likes cutting grass!

 

[W2R]

From the date that I confirmed the ERI rumor, until my last day there, I put a "Post-It" note on my office door with the number of days remaining 'til I pulled the plug!

My white board at work currently has the large, red, enigmatic number "787" written down near the bottom. Each day I subtract one. Nobody has asked, yet...

I had been keeping track every day since it was over 2300, but just kept it in an Excel file until recently.

This is how I start my w*rk days, changing that number while it is still dark outside. It cheers me up.

 

[Wags]

My white board at work currently has the large, red, enigmatic number "787" written down near the bottom. Each day I subtract one. Nobody has asked, yet...

I had been keeping track every day since it was over 2300, but just kept it in an Excel file until recently.

This is how I start my w*rk days, changing that number while it is still dark outside. It cheers me up.

Reminds me a lot of when one is on deployment or at an overseas assignment and one is getting "SHORT". The calendars and the mark down of dates are what keeps one going and seeing that there is light at the end of the tunnel.

 

[Bestwifeever]

Congrats on the ER opportunity. DH turned down an offer a few months ago wtihout even thinking about it and we are sorry he didn't go for it, so there you are--you'd wonder if you should have stayed and we're wondering if he should have left. Enjoy your new status.

 

[W2R]

Reminds me a lot of when one is on deployment or at an overseas assignment and one is getting "SHORT". The calendars and the mark down of dates are what keeps one going and seeing that there is light at the end of the tunnel.

I am definitely short (in that sense, anyway). I am SO short.

In a book that I read many years ago (perhaps The Count of Monte Cristo by Dumas?) a man was imprisoned in a dismal dungeon and marked the days by making scratchmarks on the stones - - so that he would know how many months and years he had been there. I have it much better. At least there is light at the end of my tunnel.

 

[mountaintosea]

Counting days! I've been counting only working days until the end of the year.
Don't know if I will retire then but it feels better to know there are a little over two months of working days remaining in this year!

 

[thefed]

well good luck...i hope you make the right decision. (get outta there!!) if it makes sense on paper, and goes over well with the dw, DO IT! and enjoy it. i envy you!

 

[ScottFromUtah]

One of my former co-w*rkers ER'd about 9 or 10 years ago, at age 54, and his DW did likewise from her j*b. Although he got a decent pension, he hadn't saved anything, they always lived WAY BEYOND their means, he also had loans for a car, a truck, and a motorcycle, and they had taken out a home equity loan for some remodeling. About 4 months into ER he got a part-time j*b a few hours a week. That didn't bring in enough $$, so he went to w*rk full-time mowing grass (with a push mower ) for his ex-SIL's brother who owns a lawn maintenance service. His DW also had to go back to w*rk at her former employer.

His ex-SIL said about a month ago that they had finally just gotten their heads above water......and then turned right around and took out a loan for a new fully-loaded $35K+ truck, and they're looking at another new car too, because they're trying to keep up with the Joneses! It wouldn't be bad IF they had the means, but they don't. But the Joneses that they're trying to keep up with, have MORE than enough means!!! I guess he just likes cutting grass!

FIREing and keeping up with the Joneses are definitely incompatible. If your co-worker would rather look rich than be rich, I guess that's up to him.

 

[RetireDon]

Congratulations, Whitestick! IMHO, just make sure that you have something to
retire To". The first 2 times I retired, I got away FROM somethng, got bored and went back to work. This time, I have planned my own course and its great!

I would love to be a fly on the wall in your kitchen for the next couple of weeks!

 

[whitestick]

Actually, the last couple of days would have been enough to give you the full range of emotions/calculations/suppositions/arguments/et.al I think someone once talked about the great stressors in life (divorce, losing your job, etc), and I would have to put ERO when it's earlier then you planned for as one of those as well. DW and I are getting closer to settling back down in our discussions and returning to our original plans, but it has been an emotional roller coaster. It didn't help that the short time required to make a decision caused me to mis-figure the tax situation in my reconfigured spreadsheet. Once I found that, it made the numbers come out a lot better. Just waiting for the final paper work to come in to validate my assumptions.
As to the retireing to do something, that was at least half of the discussions, as we wanted the income numbers to provide enough to do all of the things that we want to do. Now as to the problem of finding enough hours in the day to do it all, that is still part of the negotiation. DW seems to want more then her fair share for doing the things that she wants to do, and she is accusing me of the same thing. Since we both want to do those things together, we can only split some things and do them simultaneously. I certainly wish we could have retired when we were in our 20s, to give us enough time.
This time compression and quick decision making was not addressed in the previous threads, or if it was, I don't remember it. Wasn't prepared for this quick phase.
It too shall pass, but all the flyes on the wall are getting an earfull.

 

[glinka]

Congratulations on taking the money and retiring. A year ago I took the GM retirement incentive. I was 55 I was concerned about all the things that seem to come at you. Plan and plan through the years and it's still an unknown. But once you do it, it seems the natural way to live, it's the great life.

 

[In-control]

I checked with our HR department this week and the only way to retire is to quit or get layed off(includes a package) + unemployment insurance. I am going in to ask my manager next week if I can work from home 2/5 days/week. I figure that's a nice alternative since I can basically do what I want to with that time. If he say's no - I will ask him to put me on the next list of layoffs.

I am amazed at how few companies offer ER packages. You would think that that they would want to turn the higher salaried employees for lower cost ones. Even if were more experienced they can hire 2 younger people with less experience people for the same price.

My plan was to retire(do whatever I want) in my 40's - I am now 45 and studing to be a CFP @ Boston University on-line's course. I am FI and figure since I am good with $ that I might as well have people pay me to help them.