Getting ready, but with mixed feelings

[Greddy]

I"m an EE and worked for 20 years. I went to my boss with the following demands cut back to 80% of time (I took 4 day weekend every other week), I want limited travel as I was on the road 50% of my time. Also told my boss no more running big projects, I just want to review others technical work or give me small projects for a couple of clients and I can not be judged if I say no to anything. They agreed to that, also if they wanted me longer then a few years I want to work remote 100%, was denied on that one.

The demands I came up with worked for me took a lot of the BS out of work and I got some time off. Quit cause I had enough money and moved out of state.

That sounds like a great approach; I guess it depends a lot how agreeable your boss is. I have to think this through seriously, something along these lines is what I should try. Also, getting permission to continue to work remotely, as we are doing now, may generate distance to the more complicated colleagues.

 

[Greddy]

I had the same thoughts when I ER'd in November 2018 - core work was fine, it was all the stuff around it that was becoming more and more of a burden...there was a period of adjustment, but now I'm so happy I did it.... if the thought of jumping back in ever crosses my mind, I just remember the "paperwork", the not-so-nice folks, the politics, the pressures, and I thank my lucky stars that I'm out...

That is one of the possible routes; I am just not sure if I am still too "young" for this, despite my milestone birthday. But all this tells me that I still have more thinking to do I guess.

 

[tb001]

Without knowing your expenses no one can tell you if you're financially in a good position to retire. For us, once we hit our number, my capacity for dealing with BS became much lower. I still enjoyed the work, but eventually the other bits took over.

 

[Greddy]

Without knowing your expenses no one can tell you if you're financially in a good position to retire. For us, once we hit our number, my capacity for dealing with BS became much lower. I still enjoyed the work, but eventually the other bits took over.

This is a little difficult because currently my friend/partner and I have separate accounts, although we just combine spending for most things of daily life. Since I gave my own savings numbers above, if I try to break down our expenses per person in a similar way, then mine are around $64k/year. No mortgage or car loan, and the number includes HO insurance and allowance to put money away for car replacement, home repair etc every so often.

Health Insurance is currently through employer, but would be via ACA as an additional expense if I quit now. Actually if I hang on about five more years, I would be vested through the employer and receive health benefits for life for free through the quite generous employer plan. This is one of the reasons which keeps me in the job at the moment. And I fear that the very recent developments in the US makes the ACA's survival much more doubtful, and actual costs much harder to predict but likely higher. So this may be more reason to stay, and rather try to better deal with the narcissist and the paperwork and office politics.

 

[Retch The Grate]

Welcome fellow Bay Area person!

Yeah the smoke is pretty disheartening, the last 5 years or so have definitely impacted my love for the bay area, I don't want to have to wear a mask and avoid outdoor activity, and while I'm now equipped and prepared for it, it does go on the balance sheet for leaving the bay area.

Having said that, my friends are here, and most of what I love about the bay is here, just on hold due to COVID-19. Once Savanna Jazz starts being open again for my weekly date with my wife to see the Terry Hiatt Trio +1 perform live, and my tuesday night game night starts being in person again, and psytrance parties and dancing at DNA Lounge are all a go again, I think I'm likely to want to stay. It's definitely weird, but I'm really hoping this is just a temporary thing until we've got a good vaccine widely distributed.

 

[Mike.Va]

GR - mixed feelings

Hey,
Know exactly where you are coming from as I’m I five Fridays from the “R” and having the same thoughts you mentioned.
Been reading everything I can find and still have that anxiety and nervousness over me.
I found a neat site that enlightened me a bit, but just a bit.
Would like to talk to someone like yourself to just bounce ideas and thoughts back and forth.

 

[JohnRM]

Niceness

I think people are on the edge of their nerves with all the BS that is going on, Covid, weather problems, violent protests, elections, need I go on?

But for those still working, I would retire if the numbers work, just to avoid Covid if for no other reason. Stress isn't good for your immune system.

In a few years, the economy will come roaring back, and you can get another job or go back to where you work now possibly.

I wish you the best either way.

 

[meleana]

Ok, am approaching the big 5-0, very roughly $1M in RE (doesn't mean much in the SF East Bay), roughly $2M pre-tax in 403b, and roughly $300k post tax. May eventually move away from the Bay Area after ER (the water is too cold to jump in, and there are the fires, the virus, and the traffic). My guess is this should be roughly enough, but I suppose I have to do some FireCalcing etc...

But besides the finances, the big question is, what ways are there to reduce the bs component (annoying colleagues and annoying tasks). Perhaps I am just getting too sensitive about it all, and then I could just continue in my job, which in principle I quite like and which I view as my anti-Alzheimer regimen...

Are there more narcissists now than earlier? Or are my narcissist allergies just flaring up more than earlier? In which case, is there some kind of Benadryl?

I was pushed out of my job in Sept. 2018 by a narcissist manager and his minions allowed to harass older employees by a new company that bought out my old employer. I tried to hang on but after 9 months of BS I called it quits at age 62. Best thing I ever did. I figured out the rest of it as I went along in terms of financials, health insurance and relocating.

My husband followed at age 65 on 12/31/19.

All accomplished and still tweaking the financials but it was the right thing.

 

[Librarian]

I get you. I can get full retirement at 55...tho I have to pay in a bit to get my 30 years as I took a couple years off off & did part time a couple years with the kids.
I was convinced I could make it another year to alleviate the $ in...but as a teacher librarian, this year is the most stressful of my life.
I think I'm just DONE.
(PS the financial guy says paying in is a win as it is like getting 8% on that money...OK, I get the theoretical but the ACTUAL is that I have to pull that chunk from savings! OUCH)

 

[The Cosmic Avenger]

Sure, a lot of times we can do better than 8% on our own...for relatively short periods compared to our whole retirement. But a guaranteed 8% lifetime return, regardless of market conditions?? I'd put all my eggs in that basket if I could!

I get you. I can get full retirement at 55...tho I have to pay in a bit to get my 30 years as I took a couple years off off & did part time a couple years with the kids.
I was convinced I could make it another year to alleviate the $ in...but as a teacher librarian, this year is the most stressful of my life.
I think I'm just DONE.
(PS the financial guy says paying in is a win as it is like getting 8% on that money...OK, I get the theoretical but the ACTUAL is that I have to pull that chunk from savings! OUCH)

 

[Greddy]

I get you. I can get full retirement at 55...tho I have to pay in a bit to get my 30 years as I took a couple years off off & did part time a couple years with the kids.
I was convinced I could make it another year to alleviate the $ in...but as a teacher librarian, this year is the most stressful of my life.
I think I'm just DONE.
(PS the financial guy says paying in is a win as it is like getting 8% on that money...OK, I get the theoretical but the ACTUAL is that I have to pull that chunk from savings! OUCH)

I am curious, can you give some specifics of this plan? It sounds like this may be available only connected to your job? And probably the 8% return are only for a certain fixed amount of catch-up kind contributions? But whatever it is, it sounds like a great rate of return and worth depleting other savings.

 

[Greddy]

Hey,
Know exactly where you are coming from as I’m I five Fridays from the “R” and having the same thoughts you mentioned.
Been reading everything I can find and still have that anxiety and nervousness over me.
I found a neat site that enlightened me a bit, but just a bit.
Would like to talk to someone like yourself to just bounce ideas and thoughts back and forth.

You mention a site, what exactly is it? Thanks! About finding out information, the more I study about this forum, the more impressed I am.

 

[Greddy]

Welcome fellow Bay Area person!

Yeah the smoke is pretty disheartening, the last 5 years or so have definitely impacted my love for the bay area, I don't want to have to wear a mask and avoid outdoor activity, and while I'm now equipped and prepared for it, it does go on the balance sheet for leaving the bay area.

Having said that, my friends are here, and most of what I love about the bay is here, just on hold due to COVID-19. Once Savanna Jazz starts being open again for my weekly date with my wife to see the Terry Hiatt Trio +1 perform live, and my tuesday night game night starts being in person again, and psytrance parties and dancing at DNA Lounge are all a go again, I think I'm likely to want to stay. It's definitely weird, but I'm really hoping this is just a temporary thing until we've got a good vaccine widely distributed.

Thanks for the welcome! I also in general always liked the Bay Area, and also have gone to San Francisco where you are from many times on the weekend or even evening; thanks to BART it is quite ok from the East Bay. But it looks like I haven't been there as long as you have, and my enjoyment is a bit limited right now; and even during normal times, the summer is just a bit too cold, which already Mark Twain observed, and while all the water looks appealing, very rarely can I muster the courage to swim in it, and if so usually at the beaches in Marin county which is quite a drive for me. Also what bothers me more and more is the increasing dirt and decay in Oakland/Berkley and also in SF. So it's getting to be a bit of a mixed bag in my opinion, and I hope that things will get better again.

 

[Greddy]

I think people are on the edge of their nerves with all the BS that is going on, Covid, weather problems, violent protests, elections, need I go on?

But for those still working, I would retire if the numbers work, just to avoid Covid if for no other reason. Stress isn't good for your immune system.

In a few years, the economy will come roaring back, and you can get another job or go back to where you work now possibly.

I wish you the best either way.

The Covid situation is of course a big drag on all of us and our psyche. In my particular case, since this started I am mostly working at home and not going out much, which means I am not at great physical risk for the virus, but mentally I am clearly starting to develop cabin fever and getting more stressed. As a positive side effect, however, I don't have to interact as much with my narcissistic co-worker, and he is much easier to take via Zoom than seeing him in person.

 

[Librarian]

Sure, a lot of times we can do better than 8% on our own...for relatively short periods compared to our whole retirement. But a guaranteed 8% lifetime return, regardless of market conditions?? I'd put all my eggs in that basket if I could!

Thanks for this POV--it further reinforces my likely retirement this year.
(Our teacher retirement plan is excellent; according to our advisor, yes, it is the equivalent of getting 8% on that cash)

 

[Librarian]

I am curious, can you give some specifics of this plan? It sounds like this may be available only connected to your job? And probably the 8% return are only for a certain fixed amount of catch-up kind contributions? But whatever it is, it sounds like a great rate of return and worth depleting other savings.

As teachers, we have an excellent retirement plan in our state, so yes, that is to what I am referring.

 

[JeKa]

I would strongly encourage you to retire TO something, rather than FROM something. In your brief introduction you mention what keeps you unhappy during the week...but no mention of family, hobbies, stuff that makes you HAPPY!!!

Spend some time thinking about how you want to spend your days...and your nights...and your weekends. You will have 40-50 years of being unemployed, if you wish, and you need to feel relevant. Volunteer, learn to paint, or play an instrument? How about traveling the world? What country do you wan to spend those 50 years in?

Start with that stuff, and keep asking questions of this group, as many of us have gone through the same process...

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