Hello All. I just found this forum a few days ago and have been enjoying all of your wisdom. Perhaps you could help me out, or at least give me some thoughts or insights.
My situation:
I am married with one child, 19, who just finished his freshman year in college.
I am very, very tired of working. I am 49 years old and have been working since I was 13. I work for MegaCorp and have for 21 years. I am doing well there (just got a promotion, very senior management level, etc.). But, every day I think about how much of my life has been filled with work. Every day I think of all the things I want to spend my time on, but can't. It's really draining and seems to be zapping all the joy from life. By the time I get home in the evening (7:00ish) I'm exhausted and really don't feel like doing anything. Even the weekends feel like "recuperation time" instead of time to do something fun.
Financially:
We have about $4.2M in investments (mostly indexed, some bond funds, and about $600K in 401K).
We own our house (worth about $1.2M)
We have no debt at all.
I make really good money (around $600K a year).
We track our expenses. It's safe to say that we spend too much. However, for the past 6 months we've watched really closely so that we can know what it might be like living off of our investments. All the sites (FIRECalc, etc.) suggest that we can have a very good income from our investments. Of course, it will be quite a bit less that we make today.
The problem:
I know what I'm about to type sounds ridiculous given what I wrote above. But, while I've been thinking about ER for about a year, I seem to have an irrational fear about pulling the trigger. My wife is very supportive (she's been away from work since our son was about 3 years old). And yet, I worry about all kinds of things:
* we'll run out of money
* I'll ruin our (really awesome) marriage
* I'll be bored
* I'll lose contact with people and feel alone
* The market will tank, along with the economy, and I won't be able to find work if needed
* etc., etc., etc.
My wife and I both grew up in much, much leaner circumstances (myself especially, living in poverty when I was young, needing people to bring us food, etc.). So, we know how to live on less, with less, and all that, though it's been a while.
I feel guilty even asking for advice when I clearly have so much to be grateful for. And from reading a lot of similar sites, I do realize (at least I think) I'm in a pretty good spot. And yet, the fear is there.
I have (mostly) decided that I will leave my job at the end of this year. There is a big part of me that is really, really excited about the prospect. And still, the fear is there. Many days, it just seems like the most stupid thing I could do.
Have any of you gone through something similar? Do you have any advice about the process? I really appreciate anything you have to offer.
Thanks
My situation:
I am married with one child, 19, who just finished his freshman year in college.
I am very, very tired of working. I am 49 years old and have been working since I was 13. I work for MegaCorp and have for 21 years. I am doing well there (just got a promotion, very senior management level, etc.). But, every day I think about how much of my life has been filled with work. Every day I think of all the things I want to spend my time on, but can't. It's really draining and seems to be zapping all the joy from life. By the time I get home in the evening (7:00ish) I'm exhausted and really don't feel like doing anything. Even the weekends feel like "recuperation time" instead of time to do something fun.
Financially:
We have about $4.2M in investments (mostly indexed, some bond funds, and about $600K in 401K).
We own our house (worth about $1.2M)
We have no debt at all.
I make really good money (around $600K a year).
We track our expenses. It's safe to say that we spend too much. However, for the past 6 months we've watched really closely so that we can know what it might be like living off of our investments. All the sites (FIRECalc, etc.) suggest that we can have a very good income from our investments. Of course, it will be quite a bit less that we make today.
The problem:
I know what I'm about to type sounds ridiculous given what I wrote above. But, while I've been thinking about ER for about a year, I seem to have an irrational fear about pulling the trigger. My wife is very supportive (she's been away from work since our son was about 3 years old). And yet, I worry about all kinds of things:
* we'll run out of money
* I'll ruin our (really awesome) marriage
* I'll be bored
* I'll lose contact with people and feel alone
* The market will tank, along with the economy, and I won't be able to find work if needed
* etc., etc., etc.
My wife and I both grew up in much, much leaner circumstances (myself especially, living in poverty when I was young, needing people to bring us food, etc.). So, we know how to live on less, with less, and all that, though it's been a while.
I feel guilty even asking for advice when I clearly have so much to be grateful for. And from reading a lot of similar sites, I do realize (at least I think) I'm in a pretty good spot. And yet, the fear is there.
I have (mostly) decided that I will leave my job at the end of this year. There is a big part of me that is really, really excited about the prospect. And still, the fear is there. Many days, it just seems like the most stupid thing I could do.
Have any of you gone through something similar? Do you have any advice about the process? I really appreciate anything you have to offer.
Thanks