Charlotte
Recycles dryer sheets
- Joined
- Feb 23, 2007
- Messages
- 244
Hi everyone…
My DH (age 46) and I (age 37) are hoping to retire in about 4-5 years. We are both IT professionals working for MegaCorp, (both for the same company). We are paid decently and are big believers in LBYM – so we’re able to save almost half of our after-tax income for the future, plus doing all the good stuff like maxing out 401(k)s and saving for two children’s college funds. We have no debt on cars and have finished paying off the house this past year (woo-hoo). We are about half-way to saving to the magic number that, in our minds, represents financial freedom. In short, I think* (disclaimer) that we are doing most things right financially.
So, what keeps me up at night? (Mind you, this isn’t all that bad a problem to have, but it still worries me). About 30% of our wealth is in MegaCorp stock, in the form of unvested stock options and unvested stock grants. So, it is money I count on for the future, but am also a little afraid to count on, because it’s a lot of eggs in one basket – and we can’t diversify it. MegaCorp is currently considered a solid company and is in a regulated industry, but still… if it slips, our portfolio goes with it. We plan to keep working there until we retire. Hopefully MegaCorp plans to keep us, in this time of IT off-shoring, one can’t always be sure.
My other big question for the future is health insurance. While MegaCorp currently offers its retirees the chance to participate in their group health insurance plan (at the retiree’s full expense, of course), I’m just waiting for them to yank that like so many other benefits that have gone by the wayside. Somehow, I expect that health insurance will be my biggest expense in the early retirement world, but I haven’t been able to quantify it. I’ll be looking to that section of the boards a lot, I think.
Thanks all…
My DH (age 46) and I (age 37) are hoping to retire in about 4-5 years. We are both IT professionals working for MegaCorp, (both for the same company). We are paid decently and are big believers in LBYM – so we’re able to save almost half of our after-tax income for the future, plus doing all the good stuff like maxing out 401(k)s and saving for two children’s college funds. We have no debt on cars and have finished paying off the house this past year (woo-hoo). We are about half-way to saving to the magic number that, in our minds, represents financial freedom. In short, I think* (disclaimer) that we are doing most things right financially.
So, what keeps me up at night? (Mind you, this isn’t all that bad a problem to have, but it still worries me). About 30% of our wealth is in MegaCorp stock, in the form of unvested stock options and unvested stock grants. So, it is money I count on for the future, but am also a little afraid to count on, because it’s a lot of eggs in one basket – and we can’t diversify it. MegaCorp is currently considered a solid company and is in a regulated industry, but still… if it slips, our portfolio goes with it. We plan to keep working there until we retire. Hopefully MegaCorp plans to keep us, in this time of IT off-shoring, one can’t always be sure.
My other big question for the future is health insurance. While MegaCorp currently offers its retirees the chance to participate in their group health insurance plan (at the retiree’s full expense, of course), I’m just waiting for them to yank that like so many other benefits that have gone by the wayside. Somehow, I expect that health insurance will be my biggest expense in the early retirement world, but I haven’t been able to quantify it. I’ll be looking to that section of the boards a lot, I think.
Thanks all…