brewer12345
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Mar 6, 2003
- Messages
- 18,085
DW and I have been talking lately and have made the decision that I am going to bail on my day job next spring. I have had more than I can take of sitting in a cube and there is no upside or flexibility in my job. We do not have enough to safely fully retire on, but DW's business covers about half of our budget and I will find some freelance, contract, etc. work to make up the rest. Assuming we make about enough to cover expenses for 10 years and then fully retire, firecalc gives up a thumbs up. If things go better than the downside historical scenarios, we will be able to hang things up well before 10 years.
Why wait until next spring?
- I vest in about $50k in bonus and retirement goodies in December 2013
- There is a bunch of things I need to do before I check out to position myself well
- I need to line up healthcare insurance and healthcare reform makes for a lot of uncertainty as to the price of coverage. I will know a lot more come early 2014.
- I need to figure out what I will be doing to bring in some cash, although I may take the balance of 2014 off.
In a way, I am admitting defeat in that I am acknowledging I will not make it to full FIRE. However, I don't know how I could get to comfort with doing so given that DW will likely live at least another 50 years, which is an awfully long period to cover entirely with a portfolio. If I transition to ESR I hedge some of that risk by not tapping the portfolio for a good while longer.
My to-dos include:
- Line up a HELOC
- get a vasectomy (planned anyway, but might as well do it with cadillac med coverage)
- finish an employer-sponsored professional credential
- line up health insurance
- take advantage of benefits as much as possible
What else should I consider doing from a position of strength?
I am really looking forward to no longer being a prisoner of my cube and getting to spend more time with family. I have no end of things I would rather be doing than my day job.
Why wait until next spring?
- I vest in about $50k in bonus and retirement goodies in December 2013
- There is a bunch of things I need to do before I check out to position myself well
- I need to line up healthcare insurance and healthcare reform makes for a lot of uncertainty as to the price of coverage. I will know a lot more come early 2014.
- I need to figure out what I will be doing to bring in some cash, although I may take the balance of 2014 off.
In a way, I am admitting defeat in that I am acknowledging I will not make it to full FIRE. However, I don't know how I could get to comfort with doing so given that DW will likely live at least another 50 years, which is an awfully long period to cover entirely with a portfolio. If I transition to ESR I hedge some of that risk by not tapping the portfolio for a good while longer.
My to-dos include:
- Line up a HELOC
- get a vasectomy (planned anyway, but might as well do it with cadillac med coverage)
- finish an employer-sponsored professional credential
- line up health insurance
- take advantage of benefits as much as possible
What else should I consider doing from a position of strength?
I am really looking forward to no longer being a prisoner of my cube and getting to spend more time with family. I have no end of things I would rather be doing than my day job.