Unpaintedhuffhines
Recycles dryer sheets
- Joined
- Jan 14, 2013
- Messages
- 314
Hi. Love this site, and I've spent a few weeks reading all sorts of helpful material.
I'm 51, I live in Austin, and have been in high tech sales my entire career. Lately (last 5-6 years), as a manager, I've made very good money - $400K-$550K. I have about $1.5M saved, with half in 401k/IRAs and the rest in a brokerage account. Recently downsized significantly to a smaller house since the last kiddo is out of the house (in college). My annual budget is about $80K, and while my spending in the past five years has been above that (sometimes significantly), I am working on really tracking that very closely as I enter what may be my last year at this job. I have a financial advisor who I will keep. Not only is he a close personal friend (who has done a tremendous job with my finances), I find that letting someone else worry about what to invest in has significantly reduced my stress.
DW has recently re-entered the workforce at a job she loves, and has no intention of stopping any time soon (she would do what she does for free, but makes about $45K/year, and the job has health insurance if we want it). I also have an annuity of $26,000/year. In-laws have significant assets (I think about $7M-$10M) that will be split among the three kids when they are gone (which I hope is a long time from now!!)
Part of my reluctance in leaving is the amount of $ that I'm leaving on the table - not just the salary, but stock options and other significant benefits of my current job. However, the stress in high tech sales -- where you are only as good as your last quarterly results -- is driving me crazy, and I am certain it is impacting my health. In addition, I travel extensively (anywhere from 50%-75% of the time). While this gives me perks (airline miles, and other reward points), it's just too much time to be away. I get 5 weeks vacation, but rarely take more than 2 just due to the fact that if I leave, my results are at risk. Also, if I just stay "a few more years," I could make some significant contributions to my account balances. I feel massive guilt about being so selfish as to want to retire, get a dog, work in the garden, when I could be providing so much more for my family's future. My in-laws would look at me like I had lobsters crawling out of my ears as they both view work as "what the man does to take care of his family," and as long as I was healthy, why would I not? FIL is 80 and still working full time.
Love my DW as she knows the stresses in my life, and she is completely supportive of me retiring at the end of this year. Financial planner is telling me that if I can control the one thing within my control - our budget - then all will be good.
I'm 51, I live in Austin, and have been in high tech sales my entire career. Lately (last 5-6 years), as a manager, I've made very good money - $400K-$550K. I have about $1.5M saved, with half in 401k/IRAs and the rest in a brokerage account. Recently downsized significantly to a smaller house since the last kiddo is out of the house (in college). My annual budget is about $80K, and while my spending in the past five years has been above that (sometimes significantly), I am working on really tracking that very closely as I enter what may be my last year at this job. I have a financial advisor who I will keep. Not only is he a close personal friend (who has done a tremendous job with my finances), I find that letting someone else worry about what to invest in has significantly reduced my stress.
DW has recently re-entered the workforce at a job she loves, and has no intention of stopping any time soon (she would do what she does for free, but makes about $45K/year, and the job has health insurance if we want it). I also have an annuity of $26,000/year. In-laws have significant assets (I think about $7M-$10M) that will be split among the three kids when they are gone (which I hope is a long time from now!!)
Part of my reluctance in leaving is the amount of $ that I'm leaving on the table - not just the salary, but stock options and other significant benefits of my current job. However, the stress in high tech sales -- where you are only as good as your last quarterly results -- is driving me crazy, and I am certain it is impacting my health. In addition, I travel extensively (anywhere from 50%-75% of the time). While this gives me perks (airline miles, and other reward points), it's just too much time to be away. I get 5 weeks vacation, but rarely take more than 2 just due to the fact that if I leave, my results are at risk. Also, if I just stay "a few more years," I could make some significant contributions to my account balances. I feel massive guilt about being so selfish as to want to retire, get a dog, work in the garden, when I could be providing so much more for my family's future. My in-laws would look at me like I had lobsters crawling out of my ears as they both view work as "what the man does to take care of his family," and as long as I was healthy, why would I not? FIL is 80 and still working full time.
Love my DW as she knows the stresses in my life, and she is completely supportive of me retiring at the end of this year. Financial planner is telling me that if I can control the one thing within my control - our budget - then all will be good.