48M living in Chicago area and just put in my two week notice with no new job set up. I've run through so many different calculations and scenarios and they've all come back with at worst 95% success rate under extreme conditions (no dividends, no social security, 4% stock returns, etc) but in most normal cases 99+% success rate.
Even though I don't plan on staying unemployed forever and I have probably 2-3 years cash reserves of expenses right now, the uncertainty of the future is somewhat scary. This is the first time being out of work in over 30 years. This is all after carefully planning for this. I can't imagine being someone who is laid off with no plan for that whatsoever. I guess there is a little solace for them in that they get unemployment which is something you don't get when you quit your job.
I was in a job that I was increasingly hating. It used to be a small fun company to work at but they were bought out by a venture capital firm and it's been all down hill from there. Letting go all the long time employees and just cutting costs by bringing in young cheap labor.
So it's just another thing that makes gaining FI great. It's gives you option and freedoms that most people just don't have. So for now, I will finally get around some long waiting projects at home, enjoy the upcoming holidays, maybe do a little traveling around the U.S. and then find out what life has in store for me next. I know it's not always easy finding a new job when you get up in the years but I always have that peace of mind that financially I will be fine.
So for those of you that have not yet reached FI stay on course because at some point in your life you will be glad you did. You may not want to quit your job or whatever but it's nice having that in your back pocket.
Peace out.
Even though I don't plan on staying unemployed forever and I have probably 2-3 years cash reserves of expenses right now, the uncertainty of the future is somewhat scary. This is the first time being out of work in over 30 years. This is all after carefully planning for this. I can't imagine being someone who is laid off with no plan for that whatsoever. I guess there is a little solace for them in that they get unemployment which is something you don't get when you quit your job.
I was in a job that I was increasingly hating. It used to be a small fun company to work at but they were bought out by a venture capital firm and it's been all down hill from there. Letting go all the long time employees and just cutting costs by bringing in young cheap labor.
So it's just another thing that makes gaining FI great. It's gives you option and freedoms that most people just don't have. So for now, I will finally get around some long waiting projects at home, enjoy the upcoming holidays, maybe do a little traveling around the U.S. and then find out what life has in store for me next. I know it's not always easy finding a new job when you get up in the years but I always have that peace of mind that financially I will be fine.
So for those of you that have not yet reached FI stay on course because at some point in your life you will be glad you did. You may not want to quit your job or whatever but it's nice having that in your back pocket.
Peace out.
