honobob
Thinks s/he gets paid by the post
- Joined
- May 8, 2006
- Messages
- 1,036
The plan now is to stay a little over three months into the next year to sock away $20K into deferred comp. Why would anyone retire before they max out a calendar year deferral of income?
But, I've been thinking. If I stay for 5 more years I'll add about $100K a year in salary and the increased pension (cola'd) would be in excess of $500K over a 30 year period. I don't "hate" my job but I'm not crazy about being on someone elses time. I don't need the money but I would probably increase my net worth by 50% in 5 years. Thirty years to $X, 5 more years to $1.5X. Age 60 retirement! I would easily give the years 50-55 for a million but I do see the increased value of each year. Will I regret walking away from $1,000,000 five years from now?
But, I've been thinking. If I stay for 5 more years I'll add about $100K a year in salary and the increased pension (cola'd) would be in excess of $500K over a 30 year period. I don't "hate" my job but I'm not crazy about being on someone elses time. I don't need the money but I would probably increase my net worth by 50% in 5 years. Thirty years to $X, 5 more years to $1.5X. Age 60 retirement! I would easily give the years 50-55 for a million but I do see the increased value of each year. Will I regret walking away from $1,000,000 five years from now?