My job sucks but...

[Jamtin34]

Hi all, my name is James and I'm 41 and in a job I can't stand. But it pays very well (think Wall Street) and I'm sucking it up for 2 more years to reach My Number and then I'm gone. I'm terrified about what happens after that though: I don't like what I currently do so see no natural extension of that into ER. Anyone been in the same position and if so, did the next phase just come naturally or did you have to make a major switch?

I love the fact that this forum exists for us to discuss; I've been a reader here for ages!

J

 

[REWahoo]

This is a frequently discussed topic here. You might find some of these threads interesting: http://www.early-retirement.org/forums/f47/faq-archive-but-what-will-i-do-all-day-30655.html

 

[Walt34]

Think about where you want to be, what you want to be doing, and how to get there.

Welcome to the board!

 

[Sandhog]

Hi all, my name is James and I'm 41 and in a job I can't stand. But it pays very well (think Wall Street) and I'm sucking it up for 2 more years to reach My Number and then I'm gone. I'm terrified about what happens after that though: I don't like what I currently do so see no natural extension of that into ER. Anyone been in the same position and if so, did the next phase just come naturally or did you have to make a major switch?

I love the fact that this forum exists for us to discuss; I've been a reader here for ages!

J

Well, J, unless you have not planned out how much you'll need in ER, you have nothing to fear. Think about not having to dread going to work by subway unless you have a chauffeured to and from work which is very small percent of the Wall Street folks. Getting to work was part of the battle and start eating broken glass for breakfast and walk on egg shells till wee hours of the evening..... See just being able to do nothing and still make a living is what ER is all about me think.

 

[robbridg]

Welcome James. I'm also in a job I'm not happy with 'but it pays great'. It's hard to suck it up every day. I won't be retiring as soon as you. But there are many things I'd like to do in ER. Think about what you enjoy and think about things you always wanted to do or try to do but never made time for them. I'm sure you can come up with many opportunities.

The more you learn about ER the less terrified you'll become. There is lots of support here. Good luck!

 

[donheff]

It sounds like you are looking at this from a glass half empty view instead of a glass half full. It you stick with it until your reach your "number" (assuming that is FI) you will be in the perfect position to embark on the rest of your life. You can do anything -- go back to school, look for your "passion," test drive alternative jobs, or do nothing at all. What you are looking at right now is angst leading to independence. What you will be looking at then is independence leading to...

 

[Jamtin34]

Thank you all for the suportive comments; To explain: I guess it's scary for me because today and right now, all I want is no Blackberry, no subway, no boss, no clients, no co-workers (you get the picture). So I can't really think about the future until I finish with the present. All I know is that in 2 years, I can afford not to work again. While that's great financially, I have to have great trust and belief that something else will come up to occupy my time. It's just hard to project into that right now...

What do I like? Reading, golf, running, drinking coffee, sleeping, watching TV. Can I make a day that 7 days a week? I plan on giving it a jolly good try!

 

[donheff]

What do I like? Reading, golf, running, drinking coffee, sleeping, watching TV. Can I make a day that 7 days a week? I plan on giving it a jolly good try!

Sounds like a good occupation. But if it doesn't work out like you thought what is the problem? You can still do whatever you choose without worrying about whether you can make a decent living from it. E.g., become a flight attendant to qualify for free flights. You will be too old to join the Navy Seals, or become an FBI agent but pretty much everything else is still on the table.

 

[lemming]

It's nice to hear from someone on Wall Street that thinks the number in two years is going to be higher. Optimism is good.

 

[Retire2013]

What do you plan to do about health insurance when you ER?

 

[Jamtin34]

Great question on health care: I have planned on being able to buy the necessary health insurance in the country I will eventually live in (not the US). I've costed out international policies through some of the big providers.

 

[BayBum]

I have come from a similar situation and have been retired now for 4 months. For myself, my attitudes and desires are rapidly evolving as I experience freedom. Initially I was certain I would want to find work in some fashion. Now that I'm in it, guarding my free time is becoming highest on my priority list.

I think it is difficult to know how your thinking will evolve until your there.

 

[Nords]

I have come from a similar situation and have been retired now for 4 months. For myself, my attitudes and desires are rapidly evolving as I experience freedom. Initially I was certain I would want to find work in some fashion. Now that I'm in it, guarding my free time is becoming highest on my priority list.
I think it is difficult to know how your thinking will evolve until your there.

Before ER, one of the top three worries is "But what will I DO all day?!?"

After ER, everyone wonders what the heck they were worried about.

 

[steelyman]

Before ER, one of the top three worries is "But what will I DO all day?!?"

After ER, everyone wonders what the heck they were worried about.

I love this comment .

Welcome, James!

 

[WB52]

J,
Congratulations on your position of being just two years from FIRE. I'm in a similar position... I do not hate my job, but I do spend a lot of time thinking about how soon I will achieve my "number". I am planning on hitting FIRE next year. Two cheerful thoughts help carry me through each day:
1. I have been conservative with my FIRE amount. If things get really toxic here at Megacorp... Well I can pull the rip cord and live on a little less.
2. I have a count down calendar on my computer that I consult about three times a day in order to bring a smile to my face.

Best of luck!

 

[W2R]

Before ER, one of the top three worries is "But what will I DO all day?!?"

After ER, everyone wonders what the heck they were worried about.

+1

Before retirement I made lists of things I would really enjoy doing in retirement. I assumed that at some point I would be at a loss and could pull out the list to get ideas for something fun to do.

By now, I have been retired for 18 months and I haven't looked at the list. My life in retirement is busy and happy. I do the same things that I used to do on weekends or during vacation time (except that I don't have to spend time preparing to go back to work after my time off).

 

[Jamtin34]

Is this wrong?

So I also wanted to sense-check this: I have a spreadsheet with various investment returns, cost of living factors and adjustments - it ends with My Number... I run the macro once a day to calculate My Number and compare it to the Current Number. I know this is nuts because little changes throw off My Number by thousands of dollars. But it's my guilty pleasure and in a way, my countdown clock; does anyone else (besides my wife ) find this disturbing?

 

[W2R]

So I also wanted to sense-check this: I have a spreadsheet with various investment returns, cost of living factors and adjustments - it ends with My Number... I run the macro once a day to calculate My Number and compare it to the Current Number. I know this is nuts because little changes throw off My Number by thousands of dollars. But it's my guilty pleasure and in a way, my countdown clock; does anyone else (besides my wife ) find this disturbing?

I did this too, every day for about a decade before my retirement. In my case, I knew when I would retire (as soon as elible for retiree medical insurance) but had a goal number that I was determined to reach before that date. So, I would check on my progress every day.

Now that I am retired, I look at my investments and bank account every day, and compute my net worth, budget, and spending. I know to the penny how much I have left over once I compare my spending so far this year, to what I had projected to spend. I know exactly what to expect when I claim SS too (or how I will cope if SS falls apart on me), and how RMD's will change my income once I get to that age.

Seems like harmless fun to me.

 

[donheff]

So I also wanted to sense-check this: I have a spreadsheet with various investment returns, cost of living factors and adjustments - it ends with My Number... I run the macro once a day to calculate My Number and compare it to the Current Number. I know this is nuts because little changes throw off My Number by thousands of dollars. But it's my guilty pleasure and in a way, my countdown clock; does anyone else (besides my wife ) find this disturbing?

Lots of us do this.

Before ER it is to see when we will be able to retire.
After retirement it is to assure ourselves that we can stay retired.

Whichever spouse is not doing the counting finds it disturbing.

 

[unclemick]

Jan 1993, age 49.

Doing nothing in particular goes way to fast. If I were silly enough to have rushed around doing 'stuff' on my original list back then I might have missed taking time to enjoy the bliss of not working.

heh heh heh -

 

[Jay_Gatsby]

Thank you all for the suportive comments; To explain: I guess it's scary for me because today and right now, all I want is no Blackberry, no subway, no boss, no clients, no co-workers (you get the picture). So I can't really think about the future until I finish with the present. All I know is that in 2 years, I can afford not to work again. While that's great financially, I have to have great trust and belief that something else will come up to occupy my time. It's just hard to project into that right now...

What do I like? Reading, golf, running, drinking coffee, sleeping, watching TV. Can I make a day that 7 days a week? I plan on giving it a jolly good try!

Didn't read the whole thread, but the best advice I received was "First, do nothing at all.... then do what you want." If you don't know what you want, then doing nothing seems like a good first step. You'll figure it out eventually.

 

[steelyman]

So I also wanted to sense-check this: I have a spreadsheet with various investment returns, cost of living factors and adjustments - it ends with My Number... I run the macro once a day to calculate My Number and compare it to the Current Number. I know this is nuts because little changes throw off My Number by thousands of dollars. But it's my guilty pleasure and in a way, my countdown clock; does anyone else (besides my wife ) find this disturbing?

Actually, I think it would be nuts not to do this!

 

[chinaco]

So I also wanted to sense-check this: I have a spreadsheet with various investment returns, cost of living factors and adjustments - it ends with My Number... I run the macro once a day to calculate My Number and compare it to the Current Number. I know this is nuts because little changes throw off My Number by thousands of dollars. But it's my guilty pleasure and in a way, my countdown clock; does anyone else (besides my wife ) find this disturbing?

I think everyone watches it and hopes.


It sounds like you already have big plans... travel, international living, etc.


You can always go back to w*rk later if you choose to... even part-time or another career.

You do not have to look at it as a permanent decision.

The big risk is probably to your earning power. A long-term gap in work would likely mean that you would be earning less if you reentered the work place.

Make sure you have an adequate plan. The distribution phase is much different than the accumulation phase.

If you leave work at... say 45... and your plan is till 95... you have a 50 year planning horizon.

You should be focusing on the withdrawal phase planning! Plenty of good books and papers on the subject. Just browse the forum.

 

[obgyn65]

Have you thought about volunteering ?

What do I like? Reading, golf, running, drinking coffee, sleeping, watching TV. Can I make a day that 7 days a week? I plan on giving it a jolly good try!

 

[mexico]

Great question on health care: I have planned on being able to buy the necessary health insurance in the country I will eventually live in (not the US). I've costed out international policies through some of the big providers.

Would be intersting to know what countries you are considering and some of your thoughts for doing this. Sounds like it could be a great adventure and seems like you have thought things out pretty well. I moved out of US 2 yrs ago but still work for an American company with a target quit date of next yr. There are many factors for why I moved and health care was near top of list.
I also posted something here a couple of months ago related to how to make the adjustment after w*rk and received similar, encouraging responses. The more you think about it and prepare the less of an issue it is. Right now, it's just a matter of funds.