View Poll Results: How much is too much to walk away from?
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$100k/year
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2 |
1.60% |
$200k/year
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10 |
8.00% |
$400k/year
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29 |
23.20% |
$800k/year
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18 |
14.40% |
1.2M/year
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7 |
5.60% |
1.6M/year
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2 |
1.60% |
2M/year
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10 |
8.00% |
3M/year
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0 |
0% |
4M/year
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4 |
3.20% |
no amount is/would have been too large to keep me from my FIRE dream
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43 |
34.40% |
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Poll:How much is too much to walk away from?
07-23-2017, 08:40 PM
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#1
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Dryer sheet aficionado
Join Date: Sep 2009
Posts: 30
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Poll:How much is too much to walk away from?
We are essentially FI, but in our 40's, so likely many surprises down the road, financially speaking. Our incomes are good, but mine especially and just recently.
I am now in the heart of my career where few things surprise me anymore and I can get through the work without much drama or stress. There are very little political issues to deal with as I work mostly independently.
We have many things we would like to do with our lives and our children without being tied down to work, but it seems difficult to walk away from a job that I trained long for, is now not that difficult after 15+ years of experience, and pays so well.
How much annual income would make you think twice about walking away from work?
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07-23-2017, 09:00 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Jul 2002
Posts: 1,581
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I didn't vote. I walked away when I figured I was FI at 50 to be a daily part of my young sons' lives 17 years ago. The amount I was walking away from in order to have freedom from a career, did not enter into the decision at all. My time here is finite, can't put a price on it.
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07-23-2017, 09:16 PM
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#3
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Recycles dryer sheets
Join Date: Aug 2016
Location: Cottage Grove
Posts: 212
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Quote:
Originally Posted by RE2Boys
I didn't vote. I walked away when I figured I was FI at 50 to be a daily part of my young sons' lives 17 years ago. The amount I was walking away from in order to have freedom from a career, did not enter into the decision at all. My time here is finite, can't put a price on it.
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If I wanted to do that to be a part of my young sons lives, I would have had to retire in my early 20s with no money.
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07-23-2017, 09:18 PM
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#4
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Recycles dryer sheets
Join Date: Oct 2014
Location: San Antonio
Posts: 371
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When I pulled the plug, my DH commented several times over the weeks leading up to the last day that he could not walk away from the salary I had worked up to. Money was never been a driver for me over the years. Once we had a reasonably secure amount of money, no salary would have kept me trading years retired for more years on the job. Your situation is a bit different because of your younger age. I was 59, my mother passed away at 69 and several work colleagues died or suffered serious cancer events. I felt an increasing sense of urgency to spend more time with my loved ones and work on the bucket list while I am physically able.
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07-23-2017, 09:22 PM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
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None of the above. I retired when I had enough because life is finite.
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07-23-2017, 09:33 PM
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#6
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Dryer sheet aficionado
Join Date: Sep 2009
Posts: 30
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I should have included the purist option "no amount is/would have been too large to keep me from my FIRE dream", but now I don't think I can edit the poll.
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07-23-2017, 09:52 PM
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#7
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Dryer sheet wannabe
Join Date: Feb 2015
Posts: 21
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Does it have to be all or nothing?
Can you negotiate more time off or any additional flexibility?
Can the things you want to do be done without being fully retired?
When I gave notice that I was retiring there were all sorts of offers to work part time or consult on an occasional basis.
In my case another $150K/year would probably have kept me going for a few more years.
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07-23-2017, 10:00 PM
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#8
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,266
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It is hard to walk away, but there comes a point of time where you have enough money and time has more value than money.
When I was a young professional, I had lots of time but mot much money, so I would do a lot of things myself. Later in life, once I was well established in my career, I had plenty of money but not enough time, so I was more willing to pay to have things done to give me more free time.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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07-23-2017, 10:04 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Mar 2017
Location: New York City
Posts: 2,838
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Wow, poll starts at 100k. I had to google that one, only 6 % of American individuals (not household) make 100k or more. So, what do you make now?
__________________
Withdrawal Rate currently zero, Pension 137 % of our spending, Wasted 5 years of my prime working extra for a safe withdrawal rate. I can live like a King for a year, or a Prince for the rest of my life. I will stay on topic, I will stay on topic, I will stay on topic
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07-23-2017, 10:10 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Jun 2014
Posts: 1,069
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Quote:
Originally Posted by michelle
We are essentially FI, but in our 40's, so likely many surprises down the road, financially speaking. Our incomes are good, but mine especially and just recently.
I am now in the heart of my career where few things surprise me anymore and I can get through the work without much drama or stress. There are very little political issues to deal with as I work mostly independently.
We have many things we would like to do with our lives and our children without being tied down to work, but it seems difficult to walk away from a job that I trained long for, is now not that difficult after 15+ years of experience, and pays so well.
How much annual income would make you think twice about walking away from work?
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I think you are asking us to price what amount of money you would sell more time with your family is worth. If more money equals higher quality time even though you will throw away a couple years, well thats a decision you guys should talk for over.
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07-23-2017, 10:15 PM
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#11
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Recycles dryer sheets
Join Date: Aug 2016
Location: Cottage Grove
Posts: 212
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Quote:
Originally Posted by Blue Collar Guy
Wow, poll starts at 100k. I had to google that one, only 6 % of American individuals (not household) make 100k or more. So, what do you make now?
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I make that as a single man. I'm also probably a lot different than the average ER.org member in that I travel for a living and get treated like a king. The OPM travel, along with a generous vacation policy, allows me to use hotel points, Skymiles, and free car rental days to travel the world on vacation extremely cheap. Hell, I'd sell my house and move into one of my son's spare bedrooms if it wasn't for my two Labs I travel so much. Having said that, I still want to RE.
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07-23-2017, 10:24 PM
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#12
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Thinks s/he gets paid by the post
Join Date: Mar 2017
Location: New York City
Posts: 2,838
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Quote:
Originally Posted by Johanson
I make that as a single man. I'm also probably a lot different than the average ER.org member in that I travel for a living and get treated like a king. The OPM travel, along with a generous vacation policy, allows me to use hotel points, Skymiles, and free car rental days to travel the world on vacation extremely cheap. Hell, I'd sell my house and move into one of my son's spare bedrooms if it wasn't for my two Labs I travel so much. Having said that, I still want to RE.
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Sorry, I was asking the original poster. . The 100k - 4 million is meaningless unless we know what they make now,
__________________
Withdrawal Rate currently zero, Pension 137 % of our spending, Wasted 5 years of my prime working extra for a safe withdrawal rate. I can live like a King for a year, or a Prince for the rest of my life. I will stay on topic, I will stay on topic, I will stay on topic
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07-23-2017, 10:39 PM
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#13
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Recycles dryer sheets
Join Date: Aug 2016
Location: Cottage Grove
Posts: 212
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Quote:
Originally Posted by Blue Collar Guy
Sorry, I was asking the original poster. . The 100k - 4 million is meaningless unless we know what they make now,
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Is it? I answered $400K. I make just over $100K. I don't make $400K and never have. I plan on retiring in 5 or 6 years but a $400K salary might make me stay.
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07-23-2017, 10:46 PM
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#14
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,473
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Quote:
Originally Posted by michelle
I should have included the purist option "no amount is/would have been too large to keep me from my FIRE dream", but now I don't think I can edit the poll.
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(done - - added that option)
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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07-23-2017, 10:46 PM
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#15
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Dryer sheet aficionado
Join Date: Sep 2009
Posts: 30
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Quote:
Originally Posted by liberty53
Does it have to be all or nothing?
Can you negotiate more time off or any additional flexibility?
Can the things you want to do be done without being fully retired?
When I gave notice that I was retiring there were all sorts of offers to work part time or consult on an occasional basis.
In my case another $150K/year would probably have kept me going for a few more years.
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No, it is an all-or-none situation...at least at the current pay. I could try to find some work outside of the current situation, but it would be at a fraction of the remuneration (less than half, maybe less than one third) and only spotty work, mostly in the summer, at spring break, and at Christmas when no one wants to work including me.
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07-23-2017, 10:47 PM
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#16
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Dryer sheet aficionado
Join Date: Sep 2009
Posts: 30
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Quote:
Originally Posted by W2R
(done - - added that option)
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Thanks!
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07-23-2017, 10:48 PM
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#17
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Dryer sheet aficionado
Join Date: Sep 2009
Posts: 30
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Quote:
Originally Posted by Blue Collar Guy
Wow, poll starts at 100k. I had to google that one, only 6 % of American individuals (not household) make 100k or more. So, what do you make now?
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Sorry, it's not meant to be a how much do you make poll, but rather how much would make you think twice about leaving your current job. The numbers are intentionally higher than an average worker's yearly pay.
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07-23-2017, 10:55 PM
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#18
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Dryer sheet aficionado
Join Date: Sep 2009
Posts: 30
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I respect the purists point of view of leaving work as soon as FI is achieved, but the situation is rather more nuanced, IMO as I worked many years for much less than I currently earn. I feel very fortunate to find myself in a much different situation starting in 2016 and again this year.
We are seriously considering leaving work, but the compensation forces me to linger.
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07-23-2017, 10:57 PM
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#19
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Thinks s/he gets paid by the post
Join Date: Jun 2016
Posts: 4,661
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Quote:
Originally Posted by Sanstar
When I pulled the plug, my DH commented several times over the weeks leading up to the last day that he could not walk away from the salary I had worked up to. Money was never been a driver for me over the years. Once we had a reasonably secure amount of money, no salary would have kept me trading years retired for more years on the job. Your situation is a bit different because of your younger age. I was 59, my mother passed away at 69 and several work colleagues died or suffered serious cancer events. I felt an increasing sense of urgency to spend more time with my loved ones and work on the bucket list while I am physically able.
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+1
I was 56 and in the last 6-9 months before ER, six friends of ours either passed away or were diagnosed with serious illnesses. All of these people were seemingly quite healthy until they weren't. Reinforced for me that we don't have forever and that things could change in an instant. OMY will always bring in more cash, but you can't buy yourself more time.
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07-24-2017, 01:40 AM
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#20
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Moderator
Join Date: Jul 2017
Posts: 5,663
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I am not voting on this the way it is phrased. So many more things factor into the issue in addition to the money, although it is A factor. Age, health, stress, savings, security level, responsibilities, etc.
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