36 YO Finance Manager Wants Out

[FreqFlyer]

Hi Friends,

I've been lurking and thought I'd introduce myself. I'm a 36 years old business school grad and have been climbing the corp ladder the past seven years.

Recently I've grown tired of the corp politics and constant threat of layoffs. I've decided I want to gain more control of my time and life. My goal is to gain FI by the time I'm 45. I'd like to travel and I'd also like to be able to pick work based on what I want to do and not based on compensation. Maybe I'll enjoy working more once I've achieved FI and can quit anytime I want. Just the option can change one's outlook no?

Right now I'm earning low $100s with decent bonuses. My lifestyle and expenses are pretty low right now (save around 60%). I've only got $200K saved in cash & retirement so I've got some catch-up to do. Only mortgage debt now so at least I've paid off my student loans and car note.

Thanks for reading and I look forward to learning from everyone.

Karl

 

[Coach]

Karl, welcome to the forum!

You are right, achieving FI really does change your view of the world, and being able to quit can make work more bearable.

You have a great savings rate, debt under control and the right attitude to get you to FI. Best wishes! I'll be looking forward to your posting.

Coach

 

[crazy connie]

Hi Karl, glad to welcome you to the team! Tell us more as time permits and read around the board a bit. Having a handle on the waste of funds is the hardest part and it appears you have that one nailed. Now to grow what you got which is much more fun!

 

[bbbamI]

Welcome to the forum Karl. Hang out with us...we're a wild and crazy bunch! Time well spent here, IMO....

 

[alwaysjammin]

Welcome!

Hi Karl, glad to have u aboard! I'm in a similar situation (check out young doctor...some great feedback so far!). Post a few specifics such as retirment plan options, risk tolerance, any independent consulting work, etc.... Take it easy!
AJ

 

[oma]

Hi Friends,

Maybe I'll enjoy working more once I've achieved FI and can quit anytime I want. Just the option can change one's outlook no?


Karl

Welcome. I'm six months away from an early retirement and I'm FI. I can't say yesterday's work is any easier than 4-5 yrs ago. Sometimes I stop myself and ask "why are you stressed, this will all be over in 6 months" - but for some reason until it happens, I can't "lighten up". Although having, "tenure" can/does make life easier.

 

[FreqFlyer]

Thanks for the welcome everyone.

AJ - I'm not sure of my risk tolerance at this point (ha ha). I have been very stressed about the market's decline lately and have started to rethink. Because of the decline and so much savings this year I'm heavy on cash. I've decided I'm going to start regular contributions back into a taxable account for retirement.

Right now I'm doing any consulting. When I reach FI I'd like to look into a second career. I'd like something that I can do as an independant professional (financial planning or go for my CPA). Sure would be nice to work PT.