10K days

[HillCountry]

Just came back from my younger daughter’s elementary school graduation ceremony. In seven more years, I will retire when she leaves for college.

I started in semiconductor industry in December 1995. If I do retire in May 2023, it will be 10,000 days in total. And now I am at 3/4 of my industrial career. I do enjoy my work as design engineer. Work is fun, meaningful, and stimulating. And commuting is very tolerable. So I hope to keep at this position in the next 1/4 of my career.

DW quit software engineer job in 2008. She has 9 years of SS salary history.

We are ready financial wise; our current spending is bit over 2 percent of our NW.

2500 more days, counting down...

 

[kgtest]

Just came back from my younger daughter’s elementary school graduation ceremony. In seven more years, I will retire when she leaves for college.

I started in semiconductor industry in December 1995. If I do retire in May 2023, it will be 10,000 days in total. And now I am at 3/4 of my industrial career. I do enjoy my work as design engineer. Work is fun, meaningful, and stimulating. And commuting is very tolerable. So I hope to keep at this position in the next 1/4 of my career.

DW quit software engineer job in 2008. She has 9 years of SS salary history.

We are ready financial wise; our current spending is bit over 2 percent of our NW.

2500 more days, counting down...

Interesting way to look at it, by days. If I factored in all my PTO, sick and holidays it might not seem like as much of a commitment, this thing we call *work.

My plan is to retire when my son begins college as well! That was also my ole man's plan but he decided to stay on as an engineer and is retiring at 65 this October. Me, I am done at age 50...I'll pay for my own damn health insurance for 15yrs, that's fine by me if it means no work.

 

[HillCountry]

It will be exactly 6 years.

I just bought a five year CD at 2.35%. To plan for the retirement 6 years later, I would keep buying five year CD every year to cover the possible future expense. In today's environment, it seems five year CD offers a decent yield, and just right in terms of future planning. Ten year is too far away. And I feel more comfortable to have five years' expense in fixed income.

 

[FI_RElater]

OP

It might be wise for your DW to have one more year of SS -- to reach the minimum credits

then she can claim at either 62 or FRA and be getting those monies. (Assumes same ages and that you don't claim until 70)

 

[HillCountry]

Thanks for the comment, FI_RElater.

As DW's benefit will be about 1/2 of mine (assuming me 2023 RE), there will be no difference if she claim her own or as dependent.

Before the file and suspend loop hole, I agree she should just get the extra 4 credits.

 

[HillCountry]

2000 days or 1/5 left for the journey.

In the summer of 2010, I started seriously considering retiring; as I achieved basic financial independence by that time. I had a simple spread sheet with basic assumption on inflation, growth, and expense.

Today, the retirement planning excel contains more than 10 sheets for life plan, real estate (residence and rental), social security earning and benefit, RMD table, detailed budget at different life stages, federal tax estimate, college expense, other big ticket expense, business income, and a master sheet for all investable accounts. This gives very accurate picture of my retirement toward 99 years old. I can test various scenarios such as retirement date, retirement housing, traditional to Roth conversion. Currently I am assuming 3% inflation, 2% yield on fixed income, and 5% stock return.

Five and half years to go, I am enjoying the home stretch of my career. I am making meaningful contribution to today’s technology advance and not over stressing myself. I am helping out my kids to build solid foundation for their future independence.

 

[Milton]

I do enjoy my work as design engineer. Work is fun, meaningful, and stimulating. And commuting is very tolerable. So I hope to keep at this position in the next 1/4 of my career.

You're in a great place, lucky you! As long as this situation continues and the 'opportunity cost' of working isn't too high (which it shouldn't be, assuming that you have a decent amount of annual vacation time), there's no reason for ER.

We are ready financial wise; our current spending is bit over 2 percent of our NW.

Sounds good. I agreed that your wife needn't worry about gutting out another year of work merely to increase her social security entitlement.

elementary school graduation ceremony

Seriously?! What's next, daycare graduations?

 

[Spock]

this is going to sound cynical, but since you're in tech...
first look around your office and count how many people are "over 50" (or over 45) as a % of the total, then swag the odds of your being one of those % when you get there. In tech, always have a Plan B.

 

[Aerides]

^

Plus don't mention the 90's to anyone outside of this forum, keep em guessing, and keep it so you don't at least Look "over 50".

In my MC, if you were over 50 in IT, and you weren't a higher level VP, your days were numbered.

 

[Sunset]

^ So true, after I was 45 I dyed my hair to look younger. I was the oldest around, except for some of the company owners.

 

[Milton]

Plus don't mention the 90's to anyone outside of this forum, keep em guessing, and keep it so you don't at least Look "over 50".

In my MC, if you were over 50 in IT, and you weren't a higher level VP, your days were numbered.

This is true of so many industries, not just IT.

Pretty sad that so many companies engage in illegal discrimination. Racist and sexist employment practices are greatly reduced (although still persist), but employers seem to get away with overt, systemic ageism.

 

[mpeirce]

When I left my tech job at 49 I had a couple of conversations with younger co-workers who asked why I was leaving.

Among a few reasons I always mentioned that tech is a job for younger folks. They hadn't really noticed, but after talking with me, a few of them came to the same conclusion. Hopefully, they are now planning appropriately.

 

[YVRRocketSurgery]

I'm in quasi-tech. Long story.
Everyone thinks I'm younger than I am (46yo). I guess it helps I haven't started greying in a big way yet, just a couple of along the side that I pluck. But so true, so many of my former colleagues were pushed out in their 50's.

I've got a soft target date for retirement (~50yo) and I've calculated everything against it:
Number of months left, number of days left, number of actual work days left (subtracting weekends, vacation days, and stats), how many paychecks left, how much income and benefits left, etc.

 

[jollystomper]

I am still in IT, but more on the tech support/consulting side. Things are a little different here - our clients seem to prefer older people to support their projects, particularly "older/new technology integration/migration" activities. They see the equation "grey hair=experience=most likely not to panic and more likely to remain calm at whatever happens".

 

[HillCountry]

One good thing about my company, or I should say my group is that we do not have the ageism as described by previous posters. Most of my team mates are around 50. And some are empty nested.


But tech industries definitely have the famine and feast issue. My company had huge ramp up in the last couple of years, then recently had a minor RIF (reduction in force). Unfazed is the word to describe my feeling, as I am financially ready this time. Layoff is nothing new to me. I was laid off 3 time during my 13 years working in the Silicon Valley, all due to the startup I worked for folded.


I will cruise the remaining 1/6 of my plan. I am cruising now. My typical work day start at 9, and I leave around 4. I don’t work from home. I still love my job. In the past 5 years, I never call in sick, so wasted all my company sick leave which is tracked separately.

 

[Urchina]

OP, I'm curious. What made you choose kid- going- to- college as your retirement date, as opposed to kid- graduating- from- college?

 

[HillCountry]

1/7 to go now, or about 4 years.

Nothing significant since last update. Net worth increased around 2%.

A small change of plan. Even though the effective date will remain the same, I will take about nine weeks’ vacation to make the official date in July.

One reason is that with 18 month Cobra, I want my health insurance to cover beyond the end of year so that I don’t have to buy ACA for a couple of month. The other reason is that taking vacation instead of cashing out vacation gives about 20% boost on my pay. Free money, why not.

 

[HillCountry]

1/8 ...

Both kids are in high school now. Only 3.5 years to go.

Now the family vacation has to work around high schoolers’ schedules. I am starting to have too much PTO and thinking about 4 day work week.

Advice to people with young kids: the best time to go on family travel is when they are between 7 and 15.

 

[Dtail]

1/8 ...

Both kids are in high school now. Only 3.5 years to go.

Now the family vacation has to work around high schoolers’ schedules. I am starting to have too much PTO and thinking about 4 day work week.

Advice to people with young kids: the best time to go on family travel is when they are between 7 and 15.

What about your 5 year CD plan now that rates have fallen in the past year?

 

[dvalley]

The other reason is that taking vacation instead of cashing out vacation gives about 20% boost on my pay. Free money, why not.

Not sure I follow

 

[HillCountry]

What about your 5 year CD plan now that rates have fallen in the past year?

Still keep building the ladder. I am fine with 2 percent yield, which is right at my assumption for fixed income. It still beats the current inflation.


If rate drops much lower, I will consider other ultra short duration bond fund/ETF.

 

[HillCountry]

Not sure I follow

Example makes this clear. Say I have one month of vacation accrual.

Scenario 1: If simply quit, I got the one month pay, and that is it.
[FONT=&quot]Scenario 2: Instead, I take one-month vacation. I got the same base pay, as above. I also get benefit such as 6% 401K match up, additional vacation when I am taking vacation (about 7%), and company contributed medical expense of about 10%+.[/FONT]

 

[gwraigty]

I am starting to have too much PTO and thinking about 4 day work week.

DH has been doing this for several years. He gets 6 weeks of vacation, which we don't need. He used to take Fridays off, starting in spring, but usually had to change a few Fridays off to other days because of holiday parties near year end. He switched to taking Mondays off, which works out better. The only "downside" is that the first few months of the year are 5 day work weeks and it feels extra long after having worked 4 day work weeks most of the year.

 

[dvalley]

Example makes this clear. Say I have one month of vacation accrual.

Scenario 1: If simply quit, I got the one month pay, and that is it.
[FONT=&quot]Scenario 2: Instead, I take one-month vacation. I got the same base pay, as above. I also get benefit such as 6% 401K match up, additional vacation when I am taking vacation (about 7%), and company contributed medical expense of about 10%+.[/FONT]

Ah! I never really considered the other benefits (401k, vacation, medical) to add up enough to be a worthwhile but I see that they can if you take a long enough vacation. Good call and thanks for the clarification!

 

[Cassius King]

At least with my employer, cashed in vacation time is not treated as "ordinary" income and is taxed higher as well.