Building the courage to take the plunge?...

[2HOTinPHX]

Here's a little chart that might inspire you too. Only so many good years ahead. Hopefully many but this chart helps put things in perspective.

 

[51togo]

My last day on the payroll would be Jun 30. 2025. If I do not retire the next seamless transition with keeping all my early retirement benefits will be Jun 30th, 2026. I should be able to finish up the bulk of my obligations by Friday May 9th. Although several loose ends might remain, my time should be mostly my own beyond that date

When I retire, it is fairly safe to assume I will have a basically standing opportunity to earn from $3k up to about $27K as a freelance contractor for my current employer, depending how much I wish to work. Also, I will have finished about $3k to $5k in freelance work by June 30th of this year and it looks like some more opportunities are in the offing. I don't really seek outside freelance work and don't have plans to seek more freelance after retirement, still nonetheless, freelancing options tend to present themselves as a matter of course. Suffice it to say, I am not looking to replace a $100k+ change salary with $50k in freelance work. I may do a project here and there, but nothing big that involves hiring and managing several subcontractors. I am not looking to trade one job for another.



~~~~~

It seems so long ago, but I was in a similar situation where I must decide to accept a voluntary separation package offered in March 2013, where the termination date was June 15, 2013. I was a 56 facility manager of a mega aerospace corp, loved my work and felt responsible to stay for my colleagues. But I was ready to be FIRE then. Very similar to your financial situation but I had less than yours, no debt, also owned several classic cars. I did got ok from FireCalc tho. Took $25k annually from my 401k post retirement until 62 when I took SS. Absolutely no regrets, I was also healthy but that’s probably the most important and often ignored. You just don’t know when you will not be healthy, Although I’m still in my late sixties, I’m no longer like I was in my fifties so for me looking back that was my best decision. I got a feeling you’re ready to move on, best to your decision!

 

[orbops]

Just to be absolutely clear, if you wait another year will your very good health plan still be there for you until you become eligible for Medicare? $300/year is amazing; I pay $1,100 per MONTH for a one-person high-deductible ACA plan.

Wait, why are you paying $1,100 per month for an HDHP on ACA? My wife and I were on an HDHP plan on the ACA 2 years ago and were paying $12/month - and then I maxed out due to quadruple bypass. So we've stopped using the HDHP and go with Bronze now.

Did you choose a Gold Plan? Remember that with a regular plan or HDHP, you are responsible for paying up to the max out of pocket amount. So you're really paying ($1,100 * 12) + up to your max out of pocket of $8300.

 

[engineernerd]

Wait, why are you paying $1,100 per month for an HDHP on ACA? My wife and I were on an HDHP plan on the ACA 2 years ago and were paying $12/month - and then I maxed out due to quadruple bypass. So we've stopped using the HDHP and go with Bronze now.

Did you choose a Gold Plan? Remember that with a regular plan or HDHP, you are responsible for paying up to the max out of pocket amount. So you're really paying ($1,100 * 12) + up to your max out of pocket of $8300.

Yep, that's the (mindboggling) ACA marketplace in my area. HSA Bronze Plan. No subsidy.

Interestingly the second-lowest-cost Silver plan available in my area has a LOWER premium than my Bronze plan. The deductible is lower but the MOOP is higher (huge spread between the two). After seeing how quickly hospital care can blow through (and WAY PAST) a typical MOOP, I'm sticking with my Bronze plan, thank you very much. Hospital greed is so out of control it's surreal.