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Old 05-22-2020, 12:29 PM   #141
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Is anyone else sticking to their plans or taking a wait-and-see approach to your FIRE date?
Sticking to the plan. Feb 28, 2021. Even with the market gyrations, I’m still on track for my plan, thank goodness.
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Old 05-23-2020, 08:19 AM   #142
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Yup, that's early. I think we use anything before FRA as early.

I am still on track for Apr 2021. Not sure I have fully committed to it, though. All the numbers say we are ok. I will be 55.
Ok if you'll be 55 then I still feel young

My pop retired from teaching at 55 and went back to subbing a year or two later and was never quite able to give it up. I do wonder for those of us who pull the trigger in our 50s if it's a BIT young to hang up the hat.
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Old 05-27-2020, 04:46 PM   #143
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Ok if you'll be 55 then I still feel young

My pop retired from teaching at 55 and went back to subbing a year or two later and was never quite able to give it up. I do wonder for those of us who pull the trigger in our 50s if it's a BIT young to hang up the hat.
I'm not hanging up THE hat, I'm hanging up A hat. I retired from the military after 20 years of flying fighters. Hung up a hat. Now I am planning to retire after 13 years as a defense contractor. Hang up another hat. I fully intend to do one or all of the following after Mar 2021:

1. Consult as a strategy guy
2. Pet sitter
3. Volunteer at pet shelters
4. Work @ ACE hardware

All of those will make me happy.
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Old 06-22-2020, 02:14 PM   #144
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I did a search and couldn't find so I figured I would start. There must be others out there, it will be a great year for many. I can't wait there is a small chance I might get out in 2020 but more likely will be October of 21 at the ripe old age of 56. Not young by this forum standards but it will sure beat most of my peers by a decade.
Im right there with you, planning to resign May 2021 and finish End of November if everything goes to plan. Ill be 52 3/4.

Based in the Uk and have learned so much from this fantastic community and amazing contributors, I couldn't have got to this point without all you.

I cant believe the end is in sight !
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Tipping point?
Old 06-23-2020, 07:15 AM   #145
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Tipping point?

Stick a fork in me I'm done... at least that what my head is telling me. I can't FIRE until May 2021 to receive full benefits but I am so burnt out I feel like I'm crawling over glass to the finish line. Working with my manager to go to 4 day work weeks (using excess PTO) for the remainder of my career. Maybe it's COVID, maybe it's too long in one job, maybe it's heath issues starting to show up. Not sure which of those issues but I feel done.
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Old 06-23-2020, 07:52 AM   #146
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Stick a fork in me I'm done... at least that what my head is telling me. I can't FIRE until May 2021 to receive full benefits but I am so burnt out I feel like I'm crawling over glass to the finish line. Working with my manager to go to 4 day work weeks (using excess PTO) for the remainder of my career. Maybe it's COVID, maybe it's too long in one job, maybe it's heath issues starting to show up. Not sure which of those issues but I feel done.
I feel your pain and am in the same place, I had hoped it would get easier once i had a date that was within reach, but it isn't !
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Old 07-02-2020, 06:22 PM   #147
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I'm not hanging up THE hat, I'm hanging up A hat. I retired from the military after 20 years of flying fighters. Hung up a hat. Now I am planning to retire after 13 years as a defense contractor. Hang up another hat. I fully intend to do one or all of the following after Mar 2021:

1. Consult as a strategy guy
2. Pet sitter
3. Volunteer at pet shelters
4. Work @ ACE hardware

All of those will make me happy.
I hear you and like the idea of A hat. I’ll have been in my current gig for 9 years by the time I leave. I don’t really want To see a 10 year party!

But jumping off the hamster wheel for a nice long break may inspire me to do something else. Or not. The cool thing is any further earnings will be gravy.
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Old 07-03-2020, 09:32 AM   #148
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I am so burnt out I feel like I'm crawling over glass to the finish line.
Same.

I'm a teacher and cannot fathom what next year, my last year, is going to look like.

I pray every day my state will pass an early retirement incentive.
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Old 07-03-2020, 03:44 PM   #149
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Longtime lurker finally stepping out of the shadows to announce: I’m joining the class of 2021!

My BS bucket at mega corp has sprung a leak and it’s getting messy. I enjoy many parts of my job but they keep asking us to do more with fewer people. I’m stressed all the time, depressed on Sundays, my health/weight have been impacted, I’m just DONE.

So the plan is for me to retire in early March after my 2020 bonus is paid out. I will be 52. DH who is 5 years older will continue working for another year or two after me. His job isn’t stressful and he still hasn’t figured out how he wants to spend his time in retirement. Firecalc puts us at 100% to both retire next year if we choose. We don’t have pensions, our retirement is entirely dependent on our savings, the vast majority of which is pre-tax in our 401Ks but we will have 2-3 years cash cushion in taxable. DH’s company follows the rule of 55 so he can withdraw from his 401K immediately upon separation.

One thing I’ll be weighing over the next 8 months is finding the balance between leaving as soon as possible and maximizing my bonus payout. As long as I work through 12/31 I qualify for the 2020 bonus but if they know I’m leaving they could reduce my payout by giving me a lower rating. There’s also a slim chance of getting a severance package via a RIF so there’s no way I’m giving them long-term notice. (Based on numerous prior RIFs over the years, if there is one it will be announced before year-end.) I need to decide whether I wait until the bonus hits my bank account mid-Feb and then give 2 weeks notice and be done early March? Or give 4 weeks and stay through mid-March? Or confide in a trustworthy people-leader friend to find out the day ratings are “locked” which should be 2-4 weeks before the payout so I can give notice then and exit sooner.

I have to admit it’s fun imagining the look on my terrible boss’ face, he won’t see it coming. I’m an individual contributor so I’m not critical to the overall company but I do a good job for the team I support and they will miss me. I feel bad leaving my co-workers to pick up the slack until they can replace me but if one of them got a better job somewhere else they’d be gone in 2 weeks so why should I have to give more notice?

It’s a huge thrill to write this down and share, nobody but DH and I know my plan. I look forward to chatting with everyone as our time winds down!
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Old 07-04-2020, 04:09 PM   #150
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Welcome to the Class of 2021 ClearSky_CalmSeas!
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Old 07-16-2020, 10:15 PM   #151
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Welcome to the Class of 2021 ClearSky_CalmSeas!
Thanks, goingtotravel, for the welcome!

Since making this decision I'm feeling about 15% less anxiety at work, knowing that the end is in sight. 7 months and 17 days, to be exact, according to my new countdown app on my phone. I've always been a bit of a perfectionist so there's no way I can just coast through until the end, I'll continue to work long hours trying to do my best.

I've been working from home due to COVID since mid-March and we aren't expected back into the office until at least the fall. That has helped since I save time on hair/makeup/ironing, commuting and less office chit chatting (although we still keep in touch over the phone and an instant message app.)

I’ve discovered I’m happy being a homebody and have have lost interest in doing some of the things previously on my bucket list (round the world cruise, for example) which will help our post-FIRE budget. We do hope to do quite a bit of travel though, once my DH joins me in retirement.

Something I saw on the Class of 2020 thread was a running list of everyone's projected FIRE dates. I'd be happy to kick that off if others are interested.
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Old 07-17-2020, 05:38 AM   #152
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Something I saw on the Class of 2020 thread was a running list of everyone's projected FIRE dates. I'd be happy to kick that off if others are interested.
Definitely interested!
I'm June 25, 2021
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Old 07-18-2020, 06:07 AM   #153
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Something I saw on the Class of 2020 thread was a running list of everyone's projected FIRE dates. I'd be happy to kick that off if others are interested.
I'll join in but I don't have an exact date yet. Summer 2021 for now. Hoping to meet with an FA next month and get the final blessing on our plan then I will commit to a date.
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Old 07-18-2020, 09:29 AM   #154
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Something I saw on the Class of 2020 thread was a running list of everyone's projected FIRE dates. I'd be happy to kick that off if others are interested.
Great idea! Put me down for March 1, 2021.
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Old 07-18-2020, 10:29 AM   #155
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Time To Register For This Class!

I was hoping for the Class of 2020, but COVID and a personal issue applied enough braking power to push me to 2021. COVID has been a double edge sword, causing portfolio worries around "sequence of risk", while also reinforcing that neither health nor freedom of movement is guaranteed and no one is getting our live so pull that trigger as soon as you can justify it.

My wife retired in April 2019 and it has been very hard to keep grinding while watching her revel in near total freedom. I have told here I don't want to hear about any more of her "retired lady problems", like waking up with nothing to do and only getting half of it done by bedtime.

I owe my boss at least 4 months notice so that he can find a replacement and I can provide some knowledge transfer. I am a SME in a narrow field and we are entering the most critical and busiest portion of the annual business cycle for my unit. I am locked in until the end of the year unless I want to be a jerk, and I can't do that to my boss or this company.

So, in order, are the three major hurdles;

First, it is a big and "final" life-changing step.

Second, I don't relish the thought of all my coworkers and friends rushing to express their surprise and ask questions. I am what you might call a very young looking 59 years old. I look at least 5-7 years younger and there are many people who think I am in my late forties. Very few people know my age.

Third, is the "do we have enough money?" question. We have run all the FIRECALC scenarios based on a ground up budget (including $24K annually for travel), seen a retirement income planner, and everything comes up good. This worry is 3rd because it is, in practice, solved.

I am finding it hard to decide on the length of notice to give - 4, 5, 6 months? The thought of having to deliver it is creating anxiety. There are no "company" issues around the need to provide notice. I could give standard notice like I was just quitting. If I wait until the end of the year to provide 4 months notice, it will look like I hung on just to collect my bonus. I have even started to think I should tell my boss in, say November, that I will leave at the end of February and he does not have to consider me for a bonus. COVID will negatively impact everyone's potential bonus and I would rather make this gesture to waive mine as a parting gift to my boss, direct reports and coworkers.

Any thoughts or comments welcomed.
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Old 07-18-2020, 11:22 AM   #156
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I am not retired, so take this with a grain of NaCl. I think you are worrying way too much about appearances w.r.t. your soon-to-be former firm. I agree with not leaving them high and dry, but I think it is a mistake to have this much anxiety over the appearances. You list your second-biggest concern is the surprise of your co-workers? I am sure they will recover with time and therapy!

I also think that "looking like you hung on just to collect your bonus" is a small concern that will be forgotten about by next June, but reasonable people can disagree.
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Old 07-18-2020, 11:32 AM   #157
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I owe my boss at least 4 months notice so that he can find a replacement and I can provide some knowledge transfer. I am a SME in a narrow field and we are entering the most critical and busiest portion of the annual business cycle for my unit. I am locked in until the end of the year unless I want to be a jerk, and I can't do that to my boss or this company..
Almost all "how much notice should I give" posts start like this. You might want to search on those threads there are a bunch. We all believe we're indispensable, and, reading this even now still thinking "yes but my situation is different they'd be lost!" etc...

No matter who you are - unless a unique surgeon, a partner in a 2-3 man law firm, or something like that - your exit will be absorbed much more quickly that you can imagine. Like pulling your hand out of a bucket of water, the water forgets you and fills the void oh so quickly.
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Old 07-18-2020, 12:07 PM   #158
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Almost all "how much notice should I give" posts start like this. You might want to search on those threads there are a bunch. We all believe we're indispensable, and, reading this even now still thinking "yes but my situation is different they'd be lost!" etc...

No matter who you are - unless a unique surgeon, a partner in a 2-3 man law firm, or something like that - your exit will be absorbed much more quickly that you can imagine. Like pulling your hand out of a bucket of water, the water forgets you and fills the void oh so quickly.
Thanks for the reply. I do hear you and have read some of the posts you mentioned. This is not so much about me thinking myself indispensable. It is a 3 person specialized department in a small/medium sized private company. This is no faceless soul crushing mega-corp. I am working for the best boss I have ever had.

The company spent 4 months looking for "me" to fill my current role, and I know the impact my departure, without an in-place replacement, would have on my direct reports. They are overworked as it is. Neither of them can step into my role because of a lack of experience in a couple of key areas.

I guess I am too concerned about appearances, but integrity and loyalty are character traits I value highly. If they told me that it just so happens that they just received an application from someone highly qualified who could start right away, I would be overjoyed and ask if 2 weeks was enough notice. I just really want to leave on a good note.
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Old 07-18-2020, 02:24 PM   #159
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I just went through it with a boss I liked and I threaded the “loyalty” needle by telling her one month in advance and giving everyone else two weeks’ notice.

There are many reasons two weeks’ notice has evolved as the polite standard.
Once you make a decision, you are just mentally not as engaged, don’t want to be there and people see it. Four months in that state would have been agony for me;
Once you announce, you are a lame duck, I don’t care who you are;
If you give four months notice, the company will likely take 3.5 months before launching a search anyway;
Once you leave, they will quietly celebrate the salary savings, so why deny them the pleasure? 🥳

Has the company given you a contract or any protections or do they hold all the cards as an at-will employer? If the SHTF for them, do you think they’d give you 4 months notice? No, because this is business.

I can understand waiting to get the bonus if it’s worthwhile enough but I wouldn’t announce too early. Good luck grinding it out!
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Old 07-19-2020, 10:26 AM   #160
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If I wait until the end of the year to provide 4 months notice, it will look like I hung on just to collect my bonus. I have even started to think I should tell my boss in, say November, that I will leave at the end of February and he does not have to consider me for a bonus.
Welcome to the Class of 2021! I'm sorry 2020 didn't work out for you but hopefully these next months will pass quickly.

I am unapologetically waiting around to collect my bonus, I have no shame about that. I think it's quite common for departures to happen right after bonuses are paid out. I respect your integrity, though, you're a better employee than me I'm trying to decide between giving 2 or 4 WEEKS notice.
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