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Old 12-27-2020, 05:12 PM   #101
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Yeah, I think the pandemic has brought things into perspective for a lot of people. I was talking to a friend and he's now looking at pulling the plug next year once everything starts getting back to normal.
Expect most things to be reopened by late summer 2021 as herd immunity will be achieved. At that point, me and the wife will be taking our "vacation trips" (aka retirement research trips) to figure out where we want to retire. We both moved into the current area for career purposes and now that is almost over it will be time to move out.
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Old 12-28-2020, 12:54 PM   #102
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My update:
I've worked a 90% contract for the school district during the 2019-2020 and then this year (2020-2021). I really like my job and the flexibility of it, but have made the decision to reduce even further to a 50% contract for the 2021-2022 school year. Prior to his year, I really chose my job (which I really like) over a reduction. This year, though, I really realized I wanted more time and I don't care that I may very likely be reassigned to something different.
This will afford me a couple of advantages:
1. I can have more time for my mom (while she is still healthy, the covid isolation has been difficult).
2. I can do things with my retired/non working friends.
3. It will allow me long weekends for trips with dh, as well as visiting out of town girlfriends.

Basically it means I will work 94 days during the school year.

Financially, the impact is only salary. The reduction is almost exactly what I put away for travel and home improvement. Because of Covid and cancelled trips, I will have enough for vacations for 2021 and 2022. My insurance stays the same whether I am full or part time (about $350 per month for dh and I and our youngest son-the only one under 26)

Financially, the best thing for me to do is actually work until 2023. That's because dh will start on medicare that fall and if I retire then, I will get four free years of medical for me (I get the 4 years either year I retire, but this will then carry me to medicare). I am planning for 2022, but if things are going really well and I like the mini work week, I may continue on. But we are still targeting 2022 for me (Likely June 1)
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Old 12-30-2020, 08:34 AM   #103
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I am getting more firm in my decision to wait until April 1, 2023 (after annual bonus payout) to retire even though NW is increasing better than planned. I hope nobody minds me hanging around in the '22 class as I may change my mind.

Still planning to ask to go from 40h/wk tor 32h/wk either late '21 or April '22. Depending on how that goes (probably a "no") I may retire in '22 after all.

Parents in their 80s got their first COVID shot this week. Very relieved.....
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Old 12-30-2020, 10:05 AM   #104
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I'm encountering a somewhat similar situation.
I'm still taking training/courses in 2021; already booked one for February because we had some leftover budget from this year (2020). Will probably book another course for mid-year with our 2021 budget. I'm booking courses that are relevant to my job but I've got to admit, part of my goal is to break up the daily grind during this stretch run.

My plan is initiate some dialogue with my manager in Oct 2021 (6 months before my targeted departure) about me very likely leaving the company some time in 2022. I have a good working relationship with him though. The reasons I'm looking to have this discussion in October are:
  • Main reason: Departments occasionally do a purge in late Nov/early Dec, if by the end of Q3/Sept, we're not trending well to hit year-end budget numbers. I want the possibility to be considered for a Dec departure package if the purge happens because the company typically gives 18 month severance for tenured employees. That would roughly net me about a 12 month gain versus working all the way to my targeted mid-April 2022 date.
  • Our raises typically don't go into effect until April 1 so there'd be next to no benefit to me if I leave mid-April. My manager has gone to bat for me many times to get me a raise in various ways (like once, kind of cheekily, when there was a corporate-wide pay increase ban). So I want to let him kind of know not to "waste" a raise on me. However, the risk I'm taking is that bonus numbers don't get locked in until early December for payout early the following year.
  • And lastly, I'm kind of hoping he doesn't assign me any intense projects for 2022. My main project I've been working on during the last year and a half and continuing into 2021 has been insane.
I'm planning to formally submit my retirement/resignation letter in early Jan 2022. That will give my manager about 3 months to find a replacement. The hiring process usually takes forever because it normally has to go through many layers of approval. I'm also working it so I can defer as much vacation time as I can into 2022 to both make the last few months less stressful. Instead of backloading it completely so I can essentially stop work in Mar but officially depart in April, I'll likely either take a week off every month or take every Friday off to basically work a 4 day work week.
YVR - Sounds like a good plan. Advice about announcing resigning/retiring ranges from 2 Weeks to 2 years depending on where you read it. If you have a good relationship with our manager then 3 months sounds good in your case.
Your company has a VERY generous layoff package. You are already within the 18 month window so you are playing with 'house money' right now You could announce your plans inside of 18 months and have nothing to lose.
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Old 12-30-2020, 01:57 PM   #105
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Your company has a VERY generous layoff package. You are already within the 18 month window so you are playing with 'house money' right now You could announce your plans inside of 18 months and have nothing to lose.
Yeah, I can't complain about the layoff compensation standards that my megacorp follows. However, I'm told it's the sweetspot where it's not worth it for an employee to sue for wrongful dismissal after legal fees.

As strange as this sounds, I'm not quite at the break even point of using 'house money' yet because the 18 months is based on base pay and doesn't include the variable/peformance pay bonus side of my total compensation; which sucks for employees that have a low base and higher variable pay bonus percentage target like me. (My current manager has been great as he's been trying to get my base up.) And it does not include benefits/'free money' as the company does a lot of benefits contribution matching.
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Old 01-01-2021, 09:49 AM   #106
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Moving from Class of 2021 to the Class of 2022. I have worked so much many extra hours and overtime in Public Health Emergency Response in 2020 that I see a future working from home 2-3 days a week and I have so much time built up for plenty of vacations.

I will be Financially Independent in Oct 2021 but I will work another year. I enjoy my job and this will allow us to do a few more house improvements and purchases newer vehicles as I move toward retirement.

I wanted to retire to have the 3 freedoms: Financial Freedom, Time Freedom and Mobility Freedom. I think I can have more of all 3 while working one more year. My biggest complaint was traffic and being in the office most days, I don't think we will go back to this in the future so I have more options for my timeline. In many ways the pandemic redefined work for many of us.
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Old 01-09-2021, 02:29 PM   #107
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My date is June 29, 2022. I started a new job on June 29, 2020 after being laid off due to the COVID mess and I would need to pay back relocation fees if I leave early. I debated at the time of layoff whether I should just call it quits but (1) my portfolio had dropped nearly $700K right around layoff time so that sent me into a bit of a panic, and (2) this job just popped up and I wanted to end my career on my terms, not with someone telling me I was done working. I think I would have been too scared, and my ego too bruised, to quit.

Of course, had I known that I’d be sitting here after the market rebound, with more than $200K in my portfolio than I had before the drop, I might have just lived with the bruised ego and stopped working! But I made the choice and am going to try to honor the terms of my relo agreement.

If I make it to June 29, 2020, I’d just have to pay back half of the relocation costs, so there’s a relatively painless escape hatch if I decide not to endure working life for another 17 months, 21 days (not that I’m counting ). If I can get to March 2021 or so, I’d have my bonus payout and could pay half the relo and still have enough for some movers to take me to a preferred destination. But if I get to March, I might as well stay til June.

I’m practicing this year on living within a budget, saving money and practicing financial prudence, even more so than in the past, because I want to prepare myself for life with no salary. It’s nice to have a paycheck coming in while I practice. I’m not terribly materialistic, but I admit that I’ll stop at Starbucks on a regular basis, which is SA waste of money, and I’ve always spent more on my hobbies than I should. So I’m stopping the wasteful restaurant/cafe spending and reducing the amount I spend on my hobby.

I’m hoping by June 2022 I’ll have another $25K or so socked away in savings and investments (aiming for $40K though). And I hope to have a short list of retirement destinations (maybe even a list of 1) by then so I can get out of my current location and choose a nice, new destination where I can be free.
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Old 01-09-2021, 04:11 PM   #108
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Since it is getting to be close to within a year, I'll just leave my post. As I mentioned in the 2021 thread, 2022 seems to be the year I will retire.

My current basic expenses are currently barely met, but to reach the point when I would be absolutely safe with room for some unexpected expenses will take until early 2022 according to my spreadsheet, or end of first quarter 2022 according to Firecalc, ignoring the almost negligible effect of my small pension, moderate SS income 25-30 years in the future, and a potential sizable inheritance I hope to never see. I am working until end of 2nd quarter 2022, 06/30/2022, just in order to get a round 10-year level on my pension, which is worth almost 2 months of salary just for working that extra quarter.

Working from home is comfortable and allows me to have a really short work week in reality, but this is still a grind, and more importantly, the value of money to me vs my time is going to fall off a cliff once my needs and my safety zone are met. I plan to move at that point to a place where the buy vs. rent calculation looks far better (but is still in a safe and economically strong area), and doesn't require a plane ride in order to visit my parents.
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Old 01-09-2021, 06:49 PM   #109
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We are choosing to retire in June 2022 at 52. Though we could have earlier retired - this is becoming more fixed in our minds

However, as this is a small town - where everyone knows everyone, and I need to keep this date confidential for a while , my wife struggles with not being able to discuss it. This is especially big deal, as this is not where we will live.

It has been hypothetical until recently, and now that it is firming up - she’s struggling with that inability to talk about it.

Thoughts ?
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Old 01-09-2021, 06:50 PM   #110
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Reason for delay was I loved job and we wanted to live larger in retirement.

Organizational changes and culture changes associated with it make it not tolerable for long term now.
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Old 01-09-2021, 09:09 PM   #111
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I love reading everybody's reports.

I am seriously hoping to make it through January 2021 at the moment but sometime in 2022 is still my plan.

Having a much lower income in 2020 makes it feel easier to walk away. My business partners are changing everything and it only negatively affects ONE person... ME! So day by day and hoping to make into 2022 before calling it a day.

Good luck to everybody!
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Old 01-09-2021, 09:40 PM   #112
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Originally Posted by Poopycat View Post
My date is June 29, 2022. I started a new job on June 29, 2020 after being laid off due to the COVID mess and I would need to pay back relocation fees if I leave early. I debated at the time of layoff whether I should just call it quits but (1) my portfolio had dropped nearly $700K right around layoff time so that sent me into a bit of a panic, and (2) this job just popped up and I wanted to end my career on my terms, not with someone telling me I was done working. I think I would have been too scared, and my ego too bruised, to quit.

Of course, had I known that Id be sitting here after the market rebound, with more than $200K in my portfolio than I had before the drop, I might have just lived with the bruised ego and stopped working! But I made the choice and am going to try to honor the terms of my relo agreement.
I get it! We lost a bucket load of money in March and I was rethinking even having a retirement target date, I was so freaked out. Now, like you, we have even more.
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Old 01-13-2021, 06:17 PM   #113
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The plan is still to retire in June 2022. But retirement will mean moving back to our house in the US. We have friends there and it was a good location but things change and I am not looking forwards to retiring in suburbia anymore. But I feel like I have to pretend that I'm looking forwards to going back when my expat time is done for the same reasons that Retire48in2018 keeps his impending retirement under wraps in a small town.

And if the Covid situation stretches on longer I might simply decide to go another year or two because I don't feel like traveling to look for a better retirement location.
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Old 01-13-2021, 08:11 PM   #114
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The plan is still to retire in June 2022. But retirement will mean moving back to our house in the US. We have friends there and it was a good location but things change and I am not looking forwards to retiring in suburbia anymore. But I feel like I have to pretend that I'm looking forwards to going back when my expat time is done for the same reasons that Retire48in2018 keeps his impending retirement under wraps in a small town.

And if the Covid situation stretches on longer I might simply decide to go another year or two because I don't feel like traveling to look for a better retirement location.
Where are you living now outside the U.S. and where is the U.S. based home? One suggestion is try a college town and live in the center of downtown. What age are you? If you have no kids, many cities in the U.S. could be an option since you wouldn't care about public schools.
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Old 01-15-2021, 05:46 PM   #115
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We are choosing to retire in June 2022 at 52. Though we could have earlier retired - this is becoming more fixed in our minds

However, as this is a small town - where everyone knows everyone, and I need to keep this date confidential for a while , my wife struggles with not being able to discuss it. This is especially big deal, as this is not where we will live.

It has been hypothetical until recently, and now that it is firming up - shes struggling with that inability to talk about it.

Thoughts ?
R in 48 -

I've been struggling with similar issues... feeling like I am living the life of a Double Agent. We've kept the cards close to the vest with our group of friends and my work colleagues.

In my case, I spoke in confidence with a work colleague who is semi-retired (he was offered a package ~2 years ago). Asked him how things are going and how he likes it (SPOILER ALERT- He likes being retired/semi-retired).

He spilled the beans on some of the directions the company is headed in and gave me some good guidance on what options have been made available to employees in the past (Sabbaticals, ER packages, going PT) to give me some food for thought.

In the end, I decided to make my announcement when our company Focal Review cycle starts toward the end of this Calendar Year. Reasons - I would like:
1) My boss to start planning on me not being there in 2022, and
2) My boss to avoid the hassle of trying to fight to get me another raise, and
3) I don't want to get signed up for career goals or training etc that I will not need.

If my boss gets upset and wants to toss me on the street, that's fine... I'll get a severance package and Unemployment benefits- which will be about the same compensation as working to April 2021.
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Old 01-15-2021, 09:23 PM   #116
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Where are you living now outside the U.S. and where is the U.S. based home? One suggestion is try a college town and live in the center of downtown. What age are you? If you have no kids, many cities in the U.S. could be an option since you wouldn't care about public schools.
Currently in Seoul. Previously in suburban Atlanta area.

There are a number of options but somehow the enforced lack of travel during the pandemic has intensified the conversations on being happy about returning home (from other expats) or expecting that we will be happy to return home (from friends and family in the US). Especially with the US based friends we are keeping a little close mouthed that we might be moving back only as a landing place and then moving on to someplace more intentionally chosen (college town, less car dependent city, international location).
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Old 03-03-2021, 09:18 AM   #117
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Count Down under 400 days!

Well, what a year. I appreciate some of the events, but I'm not sure what to feel. While I should of been more personally productive, I probably wasn't.
The remote schooling ate into my time with two teenagers. Too many lives negatively impacted and mentally had to say farewell to a few friends and family members to COVID related symptoms.

With that, I'm still not sure, but my teenager daughter pointed out my cell phone countdown clock read 400 days, a few days ago! She clearly knows what my desire is.

Still FI and comfortable. College funds taken care of. Assisting elder family member in the budget and feel that is under control. Thinking about what next!

Now, just need to come up with the 12 month countdown action items!

Hope everyone is still doing well. Those not so, hang in there. It's looking up with the availability of vaccines. Even if you aren't bought in, it could reduce the spread.
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Old 03-04-2021, 06:39 AM   #118
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I'm at 484 days - love the countdown widget on my phone each day....Like to see it go down day by day.

I'm looking at milestones like 400 days, 365 (1 year left), 300, etc...

I think about what/when I can tell anyone....As we're in a smaller town, and the employer is quite large and well known - really can't tell anyone yet.
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Old 03-04-2021, 07:12 PM   #119
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My 2022 plan is not locked in stone but I think it might actually come together. I am working on a transition plan at work to work half time in 2022 and create a buyout at the end of 2022 with a little payout in 2023 and 2024 perhaps. We shall see. I am definitely coming around to think it might actually work. #2022
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Old 03-04-2021, 07:25 PM   #120
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I've always debated about getting a phone widget because I don't want to sacrifice the screenspace.
In the mean time, I just track it on my spreadsheet. I'm hitting my 400 mark mid-March but am also keenly looking forward to the magical 12 month countdown and other milestones. I'm tracking all this other crazy stuff too: Acutal workdays left, number of paychecks left, etc.

Our siblings and us have been buying groceries for our elderly parents too in order to limit their need to go shopping. Not too big of a dent in our budgets.

I still haven't told anyone at work yet and don't expect to other than my manager and until I really have to. I had a coworker in a different team keep her departure fairly secret up to a few weeks before she left and had to explain why she was declining meetings and bringing her replacement into meetings to get them up to speed.
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