Example of why I want to R(V)E!!

[joeea]

Also have some big expenses coming up that I had hoped to fund with paychecks vs piggy-bank and 2 upcoming RSU vests - one in May and one in August.

I can tell you from personal experience, once the end date is set, it's much, much easier to tolerate the BS. Just knowing that you will be gone in 6 months or so means you can just smile, leave on time each day, and dream of the escape.

I've changed jobs more times than most..and every single time, I've learned..THE GRASS IS NOT ANY GREENER in the new gig. So am somewhat gunshy about changing - yet again.

I too changed jobs many times. But remember - this time the job requirements don't have to be the same as in the past. You can do whatever you like without regard to the financial support burden.

I have this crazy idea I can become a CFP (Certified Financial Professional). I have zero career experience in that area,
...
but at least it's something I love

Well...
Playing around with your own finances is one thing.
Tossing random advice to family and friends is one thing.

Trying to do it professionally is quite another.

I was in computer software. Everyone who played with video games or booted up a computer thought it was fun. But the folks who worked in software professionally learned that the job is quite a different thing. ("You mean I have to go to all these meetings?", "You mean I have to write documentation?", "You mean I can't just work on the projects I want to work on?")

It's fun for some, but not at all fun for many.

Plus, the BEST benefit of all - when you work for yourself, you have ZERO of the soul crushing corporate bullshit to put up with.

Maybe.

Seeking out new clients and trying to get paid can be soul crushing for some. Dealing with investors who don't understand why your portfolio didn't match their bitcoin-crazed friends' can be soul crushing for some. Trying to explain that the market just crashed and the retired couples' portfolio just decreased by 30% can be soul crushing for some. Dealing with all the paperwork, certifications, and re-certifications can be soul crushing for some.

I'm not trying to discourage you. Many find self-employment to be exactly what they were looking for. But it may not be all fun and games either.

And going from no real experience to becoming a CFP in whom people trust their life savings is a huge series of steps.

Good luck!

 

[golfnut]

OP - suggest you wait to age 55 so you have penalty free access to your 401k. I suggest this even though you may have enough $$ outside the 401k. Just gives you another financial option.

Since you get on with your new boss, is there a way to nudge him to offer you an exit package??

If it's just all too much, just give them your 2 week notice and enjoy the rest of your life.

I was let go at age 55. Even though I hated by job, my ego was bruised by being let go. But the bruise healed up real quick. So happy, I have been out of the corp. bullsh***** for 7 yrs. now.

As you have personally experienced, life can be short. So if you got enough dinero, do the things you enjoy. It's pretty simple, imho.

 

[joeea]

Just happened to look up some old college friends the other day that I haven't talked with in 20+ years - and found out one of them is literally going to die any day now from pancreatic cancer. 57 years old. He won't see 58. I had no real reason to look them up, so thinking this was God's way of saying "hey, dummy - pay attention, would you?"

I think it's good to consider all sides. So just to play devil's advocate here...

I'm sorry to hear about your friend. I don't know about you, but I have relatives who are still around in their late 90s.

Perhaps if you met them and talked with them you would think it was God's way of saying "look at the long term".

Second sign - randomly got talking with a local mom & pop shop owner (who roasts coffee in a ramshackle, run down building in the lowest rent part of our otherwise very nice town - I went over there a couple of weeks ago to pickup this awesome but insanely overpriced coffee that wife tasted at his booth at the local farmer's market and now can't get enough of). Not sure how it even came up, but he RE'd at 47 which was apparently 7 years ago. Had worked for GM for 20+ years and got to the same "just can't do it anymore" moment and bailed. From General Motors in an apparently very good paying gig with all the nice corporate benefits. And went out to setup shop roasting coffee. Turns out he has a sister who worked in tech and burned out in her 50s - and also bailed. Really good and interesting conversation that went on quite a while about appreciating and living life, prioritizing what's important, etc. He can't be making much in his little coffee roasting business, but he was able to find a way to focus on what's important and to take control back. Another "hey, dummy - are you listening yet?" message from God once again, apparently.

So rather than "retiring" this guy "downsized his career"?

 

[RAE]

OP - suggest you wait to age 55 so you have penalty free access to your 401k. I suggest this even though you may have enough $$ outside the 401k. Just gives you another financial option.

I believe you only have to retire sometime during the YEAR that you turn 55 to get penalty-free access to your 401k. In other words, if you retire on January 1 of 2018, but don't turn 55 until August of 2018, you can still access the 401k anytime after you retire without penalty.

 

[joeea]

I believe you only have to retire sometime during the YEAR that you turn 55 to get penalty-free access to your 401k. In other words, if you retire on January 1 of 2018, but don't turn 55 until August of 2018, you can still access the 401k anytime after you retire without penalty.

Just to be specific, that only applies if you "leave your job" in the year you turn 55.

Otherwise, you must wait until 59 1/2.

So if you leave your job by retiring on January 1 of the year you turn 55, then you are correct. But if you left your job the prior year, you must wait.

 

[24601NoMore]

Thanks, guys. I turn 55 this year so the 401K option is available - but we would plan to tap other (taxable) investments first, to keep AGI down for ACA < 4X FPL subsidies.

 

[joeea]

Thanks, guys. I turn 55 this year so the 401K option is available - but we would plan to tap other (taxable) investments first, to keep AGI down for ACA < 4X FPL subsidies.

That makes sense if you can manage it.

The year I retired, we tried to do the same thing. But then I agreed to do some consulting and had to pay back all the subsidies with my tax return. Oh well.

 

[bingybear]

Just to be specific, that only applies if you "leave your job" in the year you turn 55.

Otherwise, you must wait until 59 1/2.

So if you leave your job by retiring on January 1 of the year you turn 55, then you are correct. But if you left your job the prior year, you must wait.

The 55.5 yo penalty free 401k withdraws only work if the plan allows it. It is not universal

 

[24601NoMore]

That makes sense if you can manage it.

The year I retired, we tried to do the same thing. But then I agreed to do some consulting and had to pay back all the subsidies with my tax return. Oh well.

Yeah..the challenge we have is that our expenses far exceed 4X FPL, so I'll need to pull - maybe as much as $40-50K per year - from the piggy bank. That's daunting, but the only way I can figure to avoid the massive HC premiums. As it is, "subsidized" premiums will still be quite hefty enough to make a serious dent in the budget.

The other challenge is having some Cap Gains (LT & ST) from company stock acquired via RSUs that I hung onto and never sold..I planned to use that as the first part of the piggy bank, but other cash flow pushes us pretty close to 4X FPL so doesn't leave a lot of room to sell and realize cap gains. Guess that's a "good problem to have" but still frustrating as it's my first place I'd *like* to pull from, vs something like cash reserves..I could sell this year, but the stock is going straight up vertically (several $$s per day) and the upside is still looking strong. Plus, we should be over the magic cut-off where we have to pay the additional "investment tax" of 3.8%. AND, if I saved it to next year with income < 4X FPL, LT Cap gains goes to zero AND we don't have to pay the additional 3.8%. So, that probably nets me another 19% or so (15% LT + 3.8% ACA investment tax) over selling this year (ugh).

 

[jazz4cash]

In a few months this will be noise to you. I rem in 2014 when I told my boss I was resigning and she asked why. I laid it out for her and she broke down and started balling. It seems she wanted to leave also but couldn't financially. Do what is best for you.

Best. Story. Ever.

 

[GravitySucks]

Zqplpll

 

[W2R]

R(V)E!!
What does this mean?

I thought it might mean, "Retire Early to an RV lifestyle". Whatever it means, I can sure relate to the urgent desire to retire. After all, my original username was "Want2Retire" and I sure did.

The original post in this thread reminds me so clearly of why I wanted to retire. All of that is long ago and far away by now, since I am in my 9th year of blissful retirement. It has been even better than I had ever hoped for or dreamed.

Leaving all that BS behind me forever has been a wonderful and healing change. I hope the OP can retire soon and loves it as much as I do.

 

[rodi]

It's soul crushing corporate BS that comes with re-org after re-org that made me accelerate my retirement plans from 55yo to 52... I'd run my plan enough to have decent confidence.... but was still collecting a paycheck when my boss made switched things up again.... in a really bad way. I talked to my husband that weekend and gave notice that monday. No regrets. I was 52... so does that make it (v)(v) early? Seemed like the correct amount of early for me.

 

[Alvin Tostig]

Hey Retire Soon - I can relate. More than a year ago, I "retired" at MegaCorp at age 60 1/2, thinking that was it. A smaller company in the industry I am in jumped on me before I even left and I accepted.

Still lots of shenanigans - and I'm not happy at all. Way too much to get into here. But I could top these stories at mega-corp and mini-corp. So I told the CEO of this new smaller company about 3 months ago that I was done. We interviewed candidates for my replacement - no one worked out. As a result, he begged me to stay on my terms - which I said then let's do 3 days a week.

Of course that has not worked out, because I'm still getting assigned 5 days worth of work and more into a 3-day schedule. So now I've been working mostly a 4 or 5 day work week! So, I told the CEO earlier this week that this is a failed experiment and I'm ready to go. I'm not sure he is taking me seriously.

So what's the latest - a semi-megacorp who knows my skills reached out to me. I told them I'm retiring soon - it wouldn't be fair to join them. They said they need me for two years - I said one at most, but really I'm not interested. Next they wined and dined me at one of the most expensive restaurants in NYC. Thanked them a few days later., but said no. They kept asking me to reconsider. Finally, I consented to meet for Round 2 in a few weeks. I'm not sure what would make me go there except for more financial security - although they are doing a great sell job.

So, I'm like you with the same 3 options: 1) stay longer with current company. 2) Go to new company. 3) Retire.

I have enough to get by via Firecalc standards - but I'm always thinking I need more.

 

[ExFlyBoy5]

I retired at 54 because I could, not because I didn't have any juice left in in me. I decided that I wanted to expend that juice on me, not on some asshats that only really cared about themselves. And guess what? It has been a great 11 years of enjoyment that I'd never have had if I'd stuck it out for a few more fat W-2s.

Ya gotta know when you've won the game and when you are just trying to run up the score to impress someone else.

Right. On. The. Mark.

I personally cannot fathom why anyone would w*rk for someone else if they are truly FI. I know it's really none of my concern, but it escapes all logic.

I had another reminder last week that solidified my stance on retiring as soon as one can. Long story short, a distance relative (who I didn't meet until a couple of years ago) and who burned the candle at both ends died after a relatively short illness at the age of 65. He *could* have retired, but was absolutely obsessed with his work and didn't and although his health was declining, he worked the day prior to being admitted to the hospital. His DW relayed to me that a couple of days before he passed (and he knew that he wasn't going live much longer), he told her that he deeply regretted not spending more time with her and his kids (youngest just turned 19 and just went in the military). It's a tough thing for sure and I sure hope that I live to be older than 65, but I also know there are no guarantees in life...so I am living it as best as I can, while I can.

 

[Markola]

On the other hand...some people like to work, my dad, for example. He tried retirement at 75, which lasted about 3 stir-crazy months until he got the call to come back part time. He’s 78 and thinks he wants to work until he’s 80. He’s an engineer and just likes to solve engineering problems, especially since he doesn’t have to manage other humans any more. It’s not for me but more power to him.

 

[JoeWras]

Last year I switched divisions at w*rk, while a co-worker, similar age, went to a small company.

What I found was same BS at megacorp. You can't take the BS out of M.c.

What my co-worker found was a different brand of BS at Centicorp.

He quit this week and is on to ER.

I have 12 weeks and 4 days left. Not that I'm counting. I trial balloon with my boss (a few hints) resulted in talk of 3 day work weeks. No way, just like one poster mentioned above, they won't respect that. You'll still get 6 days of work.

Sometimes, it is just time to go. I guess the BS has always been there, but you eventually reach an age of maturity and realize it really is BS, and not your imagination.

 

[CaptTom]

I guess the BS has always been there, but you eventually reach an age of maturity and realize it really is BS, and not your imagination.

I think you're onto something there. When we were sold from one Megacorp to another, I thought it was just a cultural difference. They were in another part of the country and to us, they ("new" Megacorp employees) were like lemmings. They all seemed to have drunk the kool-aid of corporate BS.

They happily signed up for and bragged about their six-sigma "belts" or whatever. They hung on every word of propaganda from the home office. They were totally uncritical about the screwing they, as employees, were getting by the corporation.

Now that I think about it, "we" were mostly lifers nearing the end of our tenure. We'd seen it all and didn't bother to get all excited about every new "flavor of the week" program. "They" were mostly young and starting out in their careers. While naive, they did understand the value of brown-nosing. Maybe they knew the company had no loyalty to them, and didn't really care about it's success, so they just went through the motions.

It was very disheartening to veterans who had literally built the place ourselves, and still at some level cared about it.

 

[scrabbler1]

I retired at 45, nine years ago. For me, it was the commute which burnt me out. It was long, tiring, of often sickening, a 75-90 minute trip each way on two trains with one long, crosstown avenue in NYC separating the two stations. That meant I had a long trip up several flights of steps to get out of Penn Station to get to the nearby PATH station. After arriving in Jersey City, New Jersey, I had to make a long walk up some steep ramps and stairs to return to street level.


I really hated that trip, or a similar one to lower Manhattan on the NYC subway (instead of the PATH) for 16 years, then 7 more years part-time to NJ. But reducing my weekly commute wasn't enough, eliminating it totally was my only alternative.


The corporate BS wasn't terrible because I was not in the office too many days a week. But it was growing while I felt myself beginning to rot away. I hung around long enough to see the value of my company stock skyrocket. When it hit a certain value, and the rest of the pieces of my ER plan had fallen into place, I left. It was as simple as that.