HCFMR Studios
Dryer sheet wannabe
- Joined
- Mar 29, 2006
- Messages
- 12
I've been at a big computer company for over 16 yrs. 560k in 401(k), about 50k in debt + 100k owed on 200k house. Expect to pay it off by 2018. Currently I (49 yrs old) make 100k/yr, wife (55) makes 35k/yr. We tracked every penny last year and are now making changes to reduce expenses. I'm sick (literally) of job - need to leave pronto. May be a 10-15k bonus in late March - I'm really ready to surrender that to facilitate quicker exit.
Sooooo...Here's the plan:
1) set up IRA at local Credit Union (have been with them for 15 years);
2) give 2 weeks notice
3) upon happy exit, roll-over 401(k) to IRA, take annual dispersal via 72t of 40k for at least this year. (reducing that to minimum when securly re-employed) I know I'll be locked to this decision until I'm 59-1/2...
4) chill for 1-2 months (ok - three MAX!)
5) re-enter work force in more appropriate job [green energy? green building? non-profit, something with some social conscience] - likely for less pay.
6) Start new 401k at new job.
7) work for another 10 -12 years.
8) assess situation
9) re-retire for good....
Thoughts? Suggestions? Derisive laughter?
Thanks!
Sooooo...Here's the plan:
1) set up IRA at local Credit Union (have been with them for 15 years);
2) give 2 weeks notice
3) upon happy exit, roll-over 401(k) to IRA, take annual dispersal via 72t of 40k for at least this year. (reducing that to minimum when securly re-employed) I know I'll be locked to this decision until I'm 59-1/2...
4) chill for 1-2 months (ok - three MAX!)
5) re-enter work force in more appropriate job [green energy? green building? non-profit, something with some social conscience] - likely for less pay.
6) Start new 401k at new job.
7) work for another 10 -12 years.
8) assess situation
9) re-retire for good....
Thoughts? Suggestions? Derisive laughter?
Thanks!