I hate my job should I Early Out?

No , you only THINK you hate your job.

We need you in the work force , paying FICA and Medicare tax to support us retirees :rolleyes:

How about a few more details ?
 
Sorry, all retiree positions are currently taken. Back to the salt mine. :LOL:
 
travelover said:
Sorry, all retiree positions are currently taken. Back to the salt mine. :LOL:
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THAT IS IT ! THE ANSWER ! to future Medicare and Social Security shortfalls , someone has to die, before you can begin to receive benefits :LOL:
 
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I_m_Pi_my_friend said:
I hate my job should I Early Out?
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Can you afford to? Know what you spend? How long will your assets last? Have you used Firecalc or other good modeling tools?

Sent from my SAMSUNG-SGH-I337 using Early Retirement Forum mobile app
 
Trust me I can relate. I had that feeling - but didn't pull the trigger till I had enough of a nest egg to be somewhat confident I had enough $ to not run out.

I think I posted here a lot about how unhappy I was at work when I first joined. That motivated me to cut my spending, pay down my mortgage, and maximize my savings....

Come up with a financial plan... work the plan for however long it takes to not be disastrous... then DO IT!!!
 
BTW - welcome to the forum! :)
 
Sorry, you can't early out.
-The Management
 
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Hmmm, despite the fact that I need you to help service the national debt, sometimes it is time to make a change. I was not quite there dollar-wise. I could eke out a retirement, but have grade-school kids and a mortgage. That said, I was real tired of sitting down to a new stack of sh!t sandwiches every day down in the cube farm. When life becomes an excrement Golden Corral, it is time for a jack move. I figured out that things would likely be just ducky long term if DW and I managed to bring in odds and ends of income from time to time. I was on the beach for 8 glorious months, regained my sanity, re-established much needed balance in my life, and then fell into a 1 year contract job that is very lucrative. At the end of a year, they will try to hire me permanently, another contract will show up, or I will go back to a life of leisure. I am good either way and in the meantime I no longer wish each and every day away. YMMV, as they say.
 
No. Who is going to fund Social Security for all of us? :)

+1 to Lakewood
 
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daylatedollarshort said:
Early out or risk ending up like Ted in the Dilbert cartoon:

Dilbert comic strip for 11/11/2014 from the official Dilbert comic strips archive.

He died the day after he retired. Ratbert congratulates the boss for working him to death in a timely manner. The pointy haired boss responds that if he is being honest the timing was just luck. :)
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Talk about perfect, that's it. His DW can't collect the company group life policy. Hope his PHB got a bonus for saving the company money (my mega-corp self-insured).
 
Thanks everyone for the laughs and comments and…

First let me respond to:

Rodi, Thanks that is encouraging. So I am not the only one that has posted here about how much they hate their job and want to retire.

Brewer12345, I couldn’t have said it better! Cool description of the cube farm.

Fact is that I have enough resources for a small modest retirement, won’t be able to buy lots of toys but can make ends meat according to a 80% chance with FireCalc is that high enough? I am just having allot of mixed feelings. Seems many here are younger, don’t know exactly what qualifies as “EARLY” Retirement, as I am 56 going on 57, which according to many of the financial news sites is “early” as they seem to be saying people are working till 65-67 now. When I was a kid the life expectancy for a male was 72!
One last comment on this is that even though I hate my job and plan to retire soon, I have some other questions I'll post later.
 
80% survival on Firecalc would not be enough for me and I'm somewhat of a risk taker. 90% would be the lowest I would go and 95%+ would be preferable. Can you downshift to part-time with your current job? Or take a part-time job in early retirement to plug the gap?
 
I_m_Pi_my_friend said:
Fact is that I have enough resources for a small modest retirement, won’t be able to buy lots of toys but can make ends meat according to a 80% chance with FireCalc is that high enough? I am just having allot of mixed feelings. Seems many here are younger, don’t know exactly what qualifies as “EARLY” Retirement, as I am 56 going on 57, which according to many of the financial news sites is “early” as they seem to be saying people are working till 65-67 now. When I was a kid the life expectancy for a male was 72!
Click to expand...
Most people here won't cheer you on with only 80% but you've not provided any details on what you entered. How many years did you put in? Did you include SS and any pensions? Did you include the cost of medical care pre-Medicare? Can you reduce expenses?

A default 30 year run in FIRECalc has you almost covered until 87. Could you get by on your SS after that if you've managed to live that long? There is a certain illogical tendency here to want a 95+% probablility for something that has a 30% chance of happening (long lifespan).

"EARLY" is different for different people. We have posters here that have retired in their 30's. There may even be some retirees in their 20s but I can't think of any. There are also people here over 65 still employed or semi-employed. I'm 63 and will retire in January 2015 even though I decided I was FI back in 2006. Since then, I've taken what would have been a modest retirement to the point that money should not be an issue unless we have a real financial collapse. I don't dislike my employment. I get paid a pile of money for doing very little and being subjected to no real stress.
 
Personally, I'd only do 80% if there were discretionary expenses that you could cut back enough to get by if the other 20% comes to pass. There are also lots of things you could explore that might bring in some income that you'd find enjoyable. PT job, buying/selling stuff, writing, consulting ...
 
I_m_Pi_my_friend said:
Fact is that I have enough resources for a small modest retirement, won’t be able to buy lots of toys but can make ends meat according to a 80% chance with FireCalc is that high enough? I am just having allot of mixed feelings. Seems many here are younger, don’t know exactly what qualifies as “EARLY” Retirement, as I am 56 going on 57, which according to many of the financial news sites is “early” as they seem to be saying people are working till 65-67 now. When I was a kid the life expectancy for a male was 72!
Click to expand...

I was worried about relying on a radical change in lifestyle and/or a lower percentage of success. In part because I still have minor kids at home and felt that it would be super selfish for me to put their college at risk just because I wanted to quit.

My plan involved trimming my budget while still working - which helped me figure out what I could reduce with little impact on lifestyle. Amazing how little things like cancelling/reducing the cable bill, switching the landline to magic jack, switching the cells from verizon to ting.... The bonus of doing this while still working is all good since any cost savings got diverted to nest egg investments.
 
rodi said:
My plan involved trimming my budget while still working - which helped me figure out what I could reduce with little impact on lifestyle. Amazing how little things like cancelling/reducing the cable bill, switching the landline to magic jack, switching the cells from verizon to ting.... The bonus of doing this while still working is all good since any cost savings got diverted to nest egg investments.
Click to expand...

Little recurring costs really add up. We have a fifty year plan, so cutting our energy bills $2K a year meant needing $100K less in retirement funding just from energy savings alone. There all sorts of little tips on the Internet I never thought of before - like I now have a rice cooker that steams meat and veggies on the top while the rice cooks below. It saves time and money.

We got rid of business bank fees just by switching accounts, we switched to Ooma from the landline, dumped the cell phone contracts, bought our own cable modems instead of renting, started comparison shopping on groceries more, I make our own cleaning supplies these days from natural ingredients, and a hundred or so other things that all added up.

We would have ended up like Ted if we hadn't done all that. ;) When the last kiddo is out, if not before, we're going to move to a condo or townhouse, and that will cut expenses quite a bit more as well as create more free time.

We also work part-time from home and I do a lot of little side gig / freebie type stuff that gets posted on forums like slickdeals and fatwallet. Last month the side gig stuff came to almost $2K alone in cash and merchandise.
 
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I'm the same age as you. We had someone a few years older die Friday. He came to work but never went home.


Sent from my iPhone using Early Retirement Forum
 
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