Yet another OMYer

[Markola]

Bravo


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[movingrightalong]

@geeky_grrl -

Did you achieve escape velocity? I'm in a similar compensation / age / portfolio situation, and am trying to gather success stories :^).

 

[geeky_grrl]

My last day was in February. My SO succumbed to OMY though (he did have a lot more stock vesting this year than I did though so he had more incentive to stay another year). I'm hoping to convince him to leave next year so we can move someplace sunnier.

 

[movingrightalong]

Congrats!

 

[Milton]

I'm hoping to convince him to leave next year so we can move someplace sunnier.

That's a valid reason for FIREing, even if you didn't dislike your job.

 

[street]

Nice! I wish you the best in retirement.

 

[evilanne]

Congratulations on your Retirement!

Maybe a couple of well planned vacations in locations you would be interested in moving to would move DH towards taking the leap

 

[Milton]

The cost of candour?

OK, I took a leap today. I gave my boss unofficial notice that I plan on leaving next year (probably around February).

What impact, if any, did the advance notice of your departure have upon your year-end bonus?

One hears anecdotes of people on their way out receiving lesser amounts. It probably shouldn't happen (bonuses are supposed to reflect past performance, rather than incentivizing potential future performance), but comp pools are finite and many managers prefer to allocate higher amounts to employees who are staying. Do you think that happened in your case?

 

[geeky_grrl]

What impact, if any, did the advance notice of your departure have upon your year-end bonus?

One hears anecdotes of people on their way out receiving lesser amounts. It probably shouldn't happen (bonuses are supposed to reflect past performance, rather than incentivizing potential future performance), but comp pools are finite and many managers prefer to allocate higher amounts to employees who are staying. Do you think that happened in your case?

I don't think my bonus changed because of the notice (it was slightly higher than the year before). Bonuses are pretty formulaic at my old Megacorp - the base number is calculated from salary, job level, and performance ratings for the past year. The manager only had a few percent of the pool that was discretionary. I may have waited if bonuses were more discretionary. I did wait until the bonus check hit my bank account to give HR my formal notice.

 

[Milton]

Thanks! That all makes sense. Good to hear that you were treated fairly.

 

[Foodie]

My last day was in February. My SO succumbed to OMY though (he did have a lot more stock vesting this year than I did though so he had more incentive to stay another year). I'm hoping to convince him to leave next year so we can move someplace sunnier.

Wonderful! Congratulations!!

Tell us, how have the first few months of early retirement been for you? Were they what you expected? What is better? What is worse?

 

[chris2008]

Well done, congratulations!
Now have fun and enjoy.
And help DH to enjoy his time off work.

 

[geeky_grrl]

Wonderful! Congratulations!!

Tell us, how have the first few months of early retirement been for you? Were they what you expected? What is better? What is worse?

I've been loving it so far. I've been spending a lot of time walking, reading, and cooking. I'm eating healthier, getting more exercise, and sleeping way better. I haven't gotten as many projects done as I had envisioned but I'm not all that stressed about it. My house is just as messy as before though - I always blamed my poor housekeeping on lack of time but it turns out I just hate cleaning and there is always something else I'd rather do.

The only annoyance I've had is people trying to give me j*bs (paid or volunteer) but I'm pretty good at saying no so it hasn't been that bad.

 

[Scout]

Update Please!!
How was your first full year off? Did your SO finally join you? Make it to some place sunny?

 

[steady saver]

I'd love to hear an update as well!
We have not pulled the plug yet and are in that "hanging on" zone with plans to leave after the first of the year but our feet are feeling pretty cold right now. We've discussed me closing my practice and my DH staying on another year...

 

[geeky_grrl]

It’s been about a year and a half since I left work. My SO is still working but I’m hoping that he will leave after his bonus early next year. I’m still scouting sunnier places as possible places to move after that.

I’m still very happy with my decision to retire. I’m much more relaxed. I got stuck at home most of last winter with jury duty (3 month terms in my county) but I’ll probably try to escape the gloom more this winter.

 

[Retired Expat]

Don’t rush it...

My suggestion is to work another year or two and plan this out better. Don’t do what I did, which was get divorced (more on that in a minute) quit my job, sold my house and moved to another country where I didn’t speak the language. It was way to stressful.

First question and I hate being the wet blanket but many relationships fail. Even more in times of great stress and change. Do all your numbers still work if you were to be divorced, half the assets mostly the same expenses.... Just saying....

The other is to plan what kind of life you both want. If it is someplace warmer, then buy that property now and fix it up from current income. Don’t have a retirement fund and immediately withdraw a sizable portion to fund that new life. Get the new house on the lake, ocean etc, the boat to go fishing on, the new furniture, giant TV etc while the money is still coming in.

At your current income 2 years should cover a nice life in most places (ok not Zurich or New York penthouse living )and building that new life. It gives you the time to explore new places and really where and how you spend your retirement.

If I had my druthers I would be in the south of France and not in Uruguay but that is just the foodie in me talking. I had spent quite a bit of time visiting here before making the change and was still not prepared for all the changes in my life. Just take your time, research, explore be as prepared as you can be and then pull the trigger.