Leaving the rat race!

[cranberryjoe]

I've been lurking here for a year or so. When I turned 55 recently it was time to update my analysis of expenses and assets. With FIRECalc at 100%, other planning tools showing "extremely likely" and a complimentary megacorp-provided financial planner person telling me no worries, I pulled the trigger last week. My last day at megacorp will be the end of September! While I generally enjoy the work, there is also a lot of stress and deadlines that I will be glad to be rid of, and a lot of unnecessary megacorp bureaucracy that has been wearing my patience thin for many years. I am looking forward to getting some good nights sleep, getting back in shape, and spending more quality time with my hobbies. September can't come soon enough!

 

[Aiming_4_55]

Congrats CranberryJoe, enjoy the next chapter of your life!

 

[Snow White]

Congratulations...September will be here before you know it! Today was my last day at work and I can't believe I am finally free of my stressful management position. Next week I start working as just a worker bee at a non-profit two days a week to try to ease into semi retirement. Good luck!

 

[omni550]

Welcome aboard, cranberryjoe. Congrats!...glad to hear that you are on the final countdown.

omni

 

[obgyn65]

Welcome to the forum.

 

[Live And Learn]

Welcome and Congratulations !!!! I am planning my last day for August. Like you I "generally enjoy my j*b" - its the BS, artificial and unnecessary deadlines, and resultant stress that goes along with it that is wearing me thin, so I know exactly what you are talking about.

I look forward to reading about your new found life post ER !

 

[cranberryjoe]

Thanks for all the congratulations! I'm excited! For now I'm working on the plan to bridge income between ER and SS. Got a quote for an immediate annuity to cover the difference for 11 years, but I'm checking to see if I can do better with a CD ladder or something else. I'm ok with active management for awhile (yet another retirement hobby!) but the idea of a no-brainer paycheck every month is attractive.

After discussing with a co-worker yesterday, I'm reconsidering whether to take the pension as annuitized payments or a lump sum. The pension was frozen many years ago and is seriously underfunded. I did my planning assuming the annuitized payment. If the company terminates it in the next 3 years the PBGC max payout won't quite cover me. Using the lump sum to purchase an annuity won't yield the same payout as the monthly pension. But I may be obsessing too much over this since FIREcalc says I'm ok even with a reduced pension.

 

[cranberryjoe]

Today was my last day at the grindstone, one month ahead of plan! I'm ready to have time to do the things I never had time to do. For the short term I'm going to decompress and do a whole lot of nothing. In a couple of months I hope to have figured out my new daily routine: exercise, home cooking, juggling my hobbies, ... seems like endless possibilities right now!

I decided to take my pension as a lump sum, which gives me more flexibility to do Roth IRA rollovers during the ER years, and I think it will eventually outgrow the annuitized pension since I won't need to access those funds for quite awhile.

 

[Birdie Num Nums]

Exactly: decompress and do a whole lot of nothing to get your bearings. Go to sleep & wake up whenever, with no alarm clock set. Do whatever you want each day. Because every day is now a Saturday. And tomorrow is another day, if we are given it.

 

[sheehs1]

Yay! Congrats!

 

[Major Tom]

For the short term I'm going to decompress and do a whole lot of nothing.

Congratulations but just be warned - if you're anything like me, you may find that doing a whole lot of nothing becomes in itself very rewarding and quite addictive

 

[powerplay]

Congratulations cranberryjoe! Enjoy your retirement and all the things you now want to do.

 

[cranberryjoe]

Congratulations but just be warned - if you're anything like me, you may find that doing a whole lot of nothing becomes in itself very rewarding and quite addictive

Yes, I'm very aware of that syndrome. I expect to find the perfect balance between nothing and something, which is: do something when you feel like it, otherwise do nothing.

 

[Bestwifeever]

Yay! Congrats!

+1! So happy to read your update, and the bonus month of ER is priceless.

 

[Lcountz]

Congratulations.....!!! You will LOVE it!!!!

And this is such a gorgeous time of year to have off time....and not have to worry about going back.....EVER!!!!!

Let us know how you feel on Tuesday morning next week ( after Labor Day!!!!)