Class of 2021

[HI Bill]

I keep waffling between 2020, 2021 and 2022. Need to get a package to go this year. 2021 is still my target but OMY gets me into silly extra money due to stock vesting. It's a disease.

If you have a use for silly extra $, and have good health, and can stand the j$b, then it might be worth it...if not, then...

 

[Jerseytunahunter]

I've had 2021 highlighted on my retirement spreadsheet for a few years but now it looks like a no-go. Next year I'll be 58, my DW (teacher) will be 57. The plan was for me to sell my contracting business and FIRE while she works 2 more years to lock up healthcare. My DW stayed home for 8 years to raise our children years ago and now must make up time to meet the minimum age/years requirements. My company services a lot of large snow plowing accounts and the lack of snow this winter is going to wreck my EBITDA and multiple. Truthfully, we've worked hard over the years and done very well and could retire today and pay for healthcare out of pocket. We decided years ago that we would rather work a few more years and live our "dream retirement" than stop earlier and live a frugal lifestyle. The good news is she really likes teaching and is very good at it, and I still like what I'm doing. It does not come without it's struggles but I have a great team. So, I guess I'll go back to dreaming of FIRE.......someday.

 

[retiringby50]

Joining the club... my date is 10/1/2021. 585 more days according to my countdown timer. After I deduct the vacation days, holidays, weekends, that's about 232 work days left.

A week ago, I found myself as that person who suddenly received a low rating after many years of contribution to the company with no negative comments (okay, the worst in the past couple of years was that my emails tend to be wordy), so now there is concern that I might not make it till then. I never saw this as a potential ending!

 

[goingtotravel]

Welcome Retiringby50 to the class of 2021! I hear you about the performance appraisals. Mine are still good but have ticked down very, very slightly in the last year. Only one more appraisal cycle left for me!

How many more appraisals do you have left? Any other indications that they are looking to cut staff? If you FIRE on 10/1/2021 will you be retiringby50? Hang in there, that date is not too far in the future although it probably feels like it now.

 

[Andre1969]

Tentatively, I want to be gone by April 2, 2021, which is my 51st birthday. I just looked on a calendar, and that's a Friday. Financially, I think I'm already there. FireCalc gives me a good chance of success, even if I retired today. But, mentally I'm just not quite there yet. I think one of the biggest mental blocks is health insurance.

I could see one more year syndrome kicking in though, as that 4/2/21 date approaches. I think a lot of it will depend on how the stock market's doing. If it's too far down, or we're in a recession, I might be tempted to wait it out a bit. But if it's roaring along, hitting new peaks, I'm gone!

I know they say retiring at the peak of a market can be dangerous (such as 1966, 1973, etc), but in my case, that market peak would give me a lot of added cushion. It wouldn't be like I was retiring at a peak, with a 4% withdrawal rate and no margin for error. More like, I would have been able to retire earlier, but now have extra cushion, so I should be able to better weather any market downturns.

 

[retiringby50]

Welcome Retiringby50 to the class of 2021! I hear you about the performance appraisals. Mine are still good but have ticked down very, very slightly in the last year. Only one more appraisal cycle left for me!

How many more appraisals do you have left? Any other indications that they are looking to cut staff? If you FIRE on 10/1/2021 will you be retiringby50? Hang in there, that date is not too far in the future although it probably feels like it now.

Thank you! We have quarterly reviews, so there will be a bunch still, but yes, 1 big one (2/2021) and 5 small ones left. They aren't cutting staff (didn't do it even when things were bad, and I feel like folks would be shocked and it would look bad if I were laid off as the most senior (years and age) and knowledgeable person, although now I'm smart enough to know that I'm definitely not indispensable anymore!) People here tend to give notice about their retirement early like "I'll be retiring next year" type of thing, and I was planning to let them know after I get my bonus next year (sadly so that they would give longer term work to someone else but also so that my manager can concentrate on developing careers of others). Instead, i'm going to give them 45 days notice, which is the same period they have to give me if I'm laid off just in case they have other ideas. Firing me without proper documentation would be too risky at that point.

Retiring on 10/1/21 means i will be retiringby55. Once I started researching about retirement, I couldn't close the gap with healthcare between 50 and 55, and our company had added a benefit about 8 years ago for retirees that would pay for a portion of our premiums, so that's been my incentive to stay. Otherwise, i would have left in 2017, when things in the company started going downhill. The last several years here have been awful. Thanks for asking. Sorry about the long reply filled w/emojis!

 

[caramel]

Retiring on 10/1/21 means i will be retiringby55.

That still sounds good!!

 

[ATX78701]

I'm going to cast my hat today in the ring with the Class of 2021!

Initially planned on 2022; two things are pushing me to 2021. First, my BS bucket is filling up quite rapidly. The company platitudes and mantras that at one time I chanted with the best of 'em now are nothing more than idiotic catchphrases that every year our boss introduces as if he is quoting holy scripture that he wrote (e.g. "Have an agenda for every client meeting." "Arrive at the client site at least 15 minutes before the meeting." "Keep your pipeline up to date")

Second, even with the dip in the market this year, Firecalc and other retirement calcs are giving me 100%. So although the guidance is that I could go now, I want to stay on payroll as I move to a much LCOA and make sure that I can adjust to this new life before talking to the boss and HR.

I'm holding on for *ATX78701 checks spreadsheet* 335 days at this point - right after I expect to be paid year end bonus and before much vacation has accrued.

 

[caramel]

First, my BS bucket is filling up quite rapidly. The company platitudes and mantras that at one time I chanted with the best of 'em now are nothing more than idiotic catchphrases that every year our boss introduces as if he is quoting holy scripture that he wrote

Ha ha, I hear you on the BS bucket. Mine's overflowing.

Welcome to the Class of 2021!

 

[goingtotravel]

One more year (really!)

One year from today I can mail my badge and laptop back to the office and forget about w*rk forever. Not saying I will walk out on that day (because if we can't travel internationally we will wait) but just knowing that I can leave in a year is a great feeling. And, having 14 weeks of PTO to use between now and then doesn't hurt to think about either. Is anyone else sticking to their plans or taking a wait-and-see approach to your FIRE date?

 

[HI Bill]

Is anyone else sticking to their plans or taking a wait-and-see approach to your FIRE date?

I'm officially in the Class of 2020, and may or may not make it this year. I'm taking the 'wait and see' approach. Right now, I'm leaning towards September 2020, but if travel restriction are still in place, and/or we have a resurgence in COVID cases, I'll defer at least until January 2021. Since I can w#rk from home, and don't have a garage or scuba compressor, it doesn't make sense to me to RE if I can't go anywhere. But once I find my RE home, my tune may change!

 

[KrisQuit]

Is anyone else sticking to their plans or taking a wait-and-see approach to your FIRE date?

Sticking to the plan. Life is finite, and I have a lot living beyond FIRE to do. The pandemic has increased the stress and hours at work, and has given me a very clear picture of why I need to find a new path next year. I have been preparing for this for too long to wait beyond what is needed.

 

[HI Bill]

Sticking to the plan. Life is finite, and I have a lot living beyond FIRE to do. The pandemic has increased the stress and hours at work, and has given me a very clear picture of why I need to find a new path next year. I have been preparing for this for too long to wait beyond what is needed.

Good for you! In my OMY syndrome, and in the current pandemic, I am looking at how much more travel I can do later, or how much better home I might be able to buy if I OMY. But there is a finite amount of time that one has, so it is a balancing act, for sure.

 

[tmitchell]

Jumping in! I was hoping for later this year but with covid uncertainty figure OMY is prudent. So targeting October 2021 when my current contract expires. I’ll be 54. That’s still “early” right??

 

[corn18]

Jumping in! I was hoping for later this year but with covid uncertainty figure OMY is prudent. So targeting October 2021 when my current contract expires. I’ll be 54. That’s still “early” right??

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.

 

[ATX78701]

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.

 

[tmitchell]

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.

 

[corn18]

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.

 

[romans2]

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 !

 

[goingtotravel]

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.

 

[romans2]

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 !

 

[tmitchell]

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.

 

[caramel]

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.

 

[ClearSky_CalmSeas]

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!

 

[goingtotravel]

Welcome to the Class of 2021 ClearSky_CalmSeas!