To ER or not to ER.....

[nun]

I've been all set to ER for the last 6 months. I'm now one week away from my final day at work.

However, I just got a call from an old colleague offering me a job 400 miles away. This would be a very cool job, probably lots of fun and fairly well paid.

So I was all set to retire to my paid off house and live off rental income from the downstairs apartment and my portfolio and now I have to decide whether I have a second act in me. I'm tempted by the job, but I'd have to rent out my house and relocate to another state........I'm 52 so not that old....but am i too old to do this.....has anyone done something similar?

 

[Ready]

It's always nice to have options Nun.

I retired last year at 46, but because I felt like I still needed to keep a toe in the business world, I took on a part time opportunity. However it did not require me to relocate, nor even go into an office. So it was an easy decision for me.

In your case, I think you have to look at how excited you are to move to the new location. Is it some place you would enjoy living? Does the idea sound refreshing to you, or exhausting?

And if you do retire, do you know how you will be spending your time?

When you way the pros and cons it should be easier to make an informed decision. Good luck with it!

 

[daylatedollarshort]

This would be a very cool job, probably lots of fun and fairly well paid.

The option to do nothing will always be there, but the job will not. Can you go in as a contract to hire?

I think the FI part is more important the the ER part. That way you don't have to stay at a job you end up hating just for the money.

 

[Donzo]

Shortly after I retired I was contacted by a company that has great pharm products and is known to have respect for it's employees. I really considered going for it - but they wanted a 5 year work guarantee. I could not give that.. Thinking back I believe I was still "wound up" from my work years. Because 6 months later i would not have considered the opportunity. Lifes short, I'm done doing stuff 40+ hours a week for someone else - but everyone has a different path. Good luck!

 

[nun]

Thanks! maybe options are more trouble than they are worth

My skills are quite specialized and to use them fully I'd really need to relocate. The job is working on a space telescope and that only happens in a few places.

I'd be working for a previous employer so I know the area and quite like it, but not as much as where I live now. Also I have friends where I am right now and the only people I know in the new place are old colleagues and an ex-wife

If I retire I plan to ride my bike and ride across the US this summer. Also I would volunteer at the local cinema and a bike charity and do the usual things of reading books, watching soccer and drinking beers with friends. That's a lot of pros right there.

 

[Ready]

Hmmm...Based on your response I'm going to go out on a limb here and suggest that you have already made your decision on this one.

 

[Midpack]

I just got a call from an old colleague offering me a job 400 miles away. This would be a very cool job, probably lots of fun and fairly well paid.

If I retire I plan to ride my bike and ride across the US this summer. Also I would volunteer at the local cinema and a bike charity and do the usual things of reading books, watching soccer and drinking beers with friends.

Admittedly relocation makes the decision more difficult, but ultimately it would come down to which of the above I wanted more for now if it was me.

You're relatively young with many years to enjoy your retirement plans, but if you're like most of us, resuming a primary career after retiring for any significant length of time can be difficult if not impossible. It can't hurt to accumulate $ beyond FI either.

Best of luck whichever choice you make, a good problem to have when all is said and done.

 

[Ready]

You're relatively young with many years to enjoy your retirement plans, but if you're like most of us, resuming a primary career after retiring for any significant length of time can be difficult if not impossible. It can't hurt to accumulate $ beyond FI either.

I'll second that! Once I had a taste of not having to go into an office every day, the thought of ever doing it again was just downright repulsive.

 

[Walt34]

I'll second that! Once I had a taste of not having to go into an office every day, the thought of ever doing it again was just downright repulsive.

Yeah, but the opportunity to work on a space telescope? Pretty cool. Those chances don't come along often.

Heck, I'm 11 years older than he is and I'd have to think about it but admittedly I don't know squat about what the job would be like. It just sounds very interesting.

I don't blame him for being a bit torn about it.

 

[Major Tom]

As is often the case with many threads, by the time I get to them, others have already said what I was thinking.

Working on a space telescope does indeed sound quite interesting, and Midpack's comment about the relative difficulty of restarting a career after a few years off is well worth bearing in mind.

How interested are you in this opportunity? How bad could things be if you tried it for a year or two and it wasn't so great? Sounds like the worst case scenario would be a year two less of retirement, and the extra work involved in finding a tenant and then kicking then out again if you decide to move back in. Some people might be particularly touchy about renting out their primary living space to another person. What are your feelings on that? How do you feel about being a landlord from a distance?

You have two attractive options to choose from and it sounds like your only problem is deciding which is the slightly more attractive one. What a good problem to have!

 

[Meadbh]

Could you rent your home to one of your trustworthy friends? Or could you keep it as a weekend/vacation home and rent a small place at the work location? Could you tell NASA that relocating is a problem for you, and that you would look more favorably on the contract if it came with a rent subsidy?

 

[growing_older]

the opportunity to work on a space telescope? Pretty cool. Those chances don't come along often.

Maybe you've done enough space that it's just work to you. I know lots of engineers and computer scientists would retire if they could, just to get more time to work on a space telescope for free. Good luck whatever you decide.

 

[Ronstar]

Sounds like a fun job. I think it could be worth going for if you can find a decent renter for your place, and if the job doesn't get to be stressful.

 

[nun]

Could you rent your home to one of your trustworthy friends? Or could you keep it as a weekend/vacation home and rent a small place at the work location? Could you tell NASA that relocating is a problem for you, and that you would look more favorably on the contract if it came with a rent subsidy?

I actually own a 2 family and I have a renter downstairs. If I take the job I'd probably just rent a small place down there and keep my place as a place to stay when I came back to visit friends and do landlord stuff.

 

[Meadbh]

I actually own a 2 family and I have a renter downstairs. If I take the job I'd probably just rent a small place down there and keep my place as a place to stay when I came back to visit friends and do landlord stuff.

OK, so housing is not a barrier. The most important question is "would you enjoy this?"

 

[FUEGO]

I'd be tempted by the new offer if it was genuinely interesting and I thought I might enjoy it more than being an ER'd bum! I think if the right employer called me up tomorrow, I would be tempted to jump back in the saddle. There were a few major projects I was sort of looking forward to at work but they never materialized in the years I was there. I wouldn't mind getting involved again. Nothing like a space telescope, but "groundbreaking" stuff in my industry, and something only 2-3 guys in the state can do (including me).

One thing I've learned is that decisions aren't permanent. You could take the job, and then 6 months or a year down the road decide to move on.

Could you have a frank discussion with your old colleague and let him know you don't have to work any more and may not be at the new gig forever? If it were me, I'd at least promise myself to give the new gig an honest chance (6 mo or 1 yr at least).

 

[inky]

Hmmm...Based on your response I'm going to go out on a limb here and suggest that you have already made your decision on this one.

I agree.

I just went through a similar decision when I was offered a position with my company in London that would have postponed FIRE several years for me. Being a good INTJ, I analyzed all my options in exhaustive detail but ultimately I followed the still, small voice inside me that told me not to take it.

 

[bondi688]

I was involuntarily ERed although I have quite enjoyed my ER life and the the freedom. I am now facing a similar temptation as Nun. I know I did enjoy working (maybe not at the last place of work) but taking the new job will be even more logistically challenging than what Nun has to face. Decisions, decisions!!

 

[jim584672]

My advice, Don't do it. How much does your personal time matter to you? Considering the few years we have in good health, the cost of working is something to be done only if absolutely required.

 

[nun]

Could you have a frank discussion with your old colleague and let him know you don't have to work any more and may not be at the new gig forever? If it were me, I'd at least promise myself to give the new gig an honest chance (6 mo or 1 yr at least).

I want to do the work and if it was where I live now I'd jump at it. The thing that makes me hesitate is moving away from friends and the comfortable life I have right now.

If I go down there I really need to commit for a few years as it's a project with a tight time line and I couldn't just leave.

 

[robnplunder]

These days (waiting to RE), I am trying to shed things that will cause stress to my life. If I am offered a similar opportunity (a good challenging job away from my comfort surrounding), I'd stay put. The only exception would be, if the new job's location is one of my potential retirement place, I'd jump. But that's me. Good luck with your decision.

 

[38Chevy454]

You had already made up your mind for ER. Plus moving away 400 miles for the new job is kind of big deal. Unless they are throwing stupid money at you, you have to balance your original goals of ER, time to enjoy health and friends, vs staying working.

Money is certainly needed, but if you have enough for your goals right now, is more really needed? Do you need the mental and social interaction of the new job opportunity?

In my perspective, more time and better health beats more money. I would stick with your original plan of ER.

 

[Ronstar]

Another thought- a space telescope is a great project, but is this a situation where you may be tempted to stay on several years until the project is done? I'm working on the best projects I've ever worked on right now, but they'll last for 5 years or more. I really enjoy the work, but I'm not sticking around until it's done

 

[nun]

You had already made up your mind for ER. Plus moving away 400 miles for the new job is kind of big deal. Unless they are throwing stupid money at you, you have to balance your original goals of ER, time to enjoy health and friends, vs staying working.

Money is certainly needed, but if you have enough for your goals right now, is more really needed? Do you need the mental and social interaction of the new job opportunity?

In my perspective, more time and better health beats more money. I would stick with your original plan of ER.

the money would be good....probably around $150k/year.....so the "one more year" thing kicks in.

 

[Options]

Wharton School of Business just came out with an interesting article on decision-making that might help in a case like this:

How the Option to Do Nothing Can Help You Get Things Done -- K@W