Class of 2018...or '17...or maybe I should quit now!

[hopeisnotaplan]

I've been considering myself as part of the class of 2018 for a couple years. But recently I'm not so sure I want to last that long. Firecalc says I can go now at 100%. But I'm conservative and I'd really like to stash a bit more away. The situation...

Age 47. No kids. Megacorp job with a great comp package, stock options, etc. I'd say low to medium stress right now. The problem? I'm bored with about 80% of the job and enjoy about 20%. I lead a department with a very strong management team who, with a little supervision, keep things well under control. I almost feel like I'll be wasting the next two years just coming to the office and collecting a check. I know I'd rather spend the time with my semi-retired DW and more time on the golf course, etc. I guess another thing holding me back is that I believe my current job is "the one". If I leave it, I feel like there won't be another one behind it with anything close to the comp. That shouldn't matter if I'm Fire but that's a huge mental hurdle. Sometimes I hope that I'll get the call down to HR for an exit package. But the company is strong...I don't see that coming.

Anyway...I welcome the comments, advice, kick in the pants...whatever you've got.

 

[2017ish]

Sounds like the BS bucket isn't full and you don't have a driving E.R. wish list that necessitates action. (although the weather here today should have made you grab those golf clubs!) 80% boredom and 20% enjoyment is not bad compared to some of the horror stories conveyed by other posters.

Question--what is the benefit of more working year? Adding onto travel budget (if that's your thing)? Go to Catbird Seat, Husk, etc., every week in retirement (if that's your thing)? Limo Service to and from all concerts, Predators and Sounds games? All of the above?

If you don't have an economic, budget blowing benefit in retirement from working, you should quit--unless the job still is fun enough. And it has to be hard to take that step out of the airplane at 47 (I'll be 57 next year when we step out--much easier after that additional decade, I think)

Good luck with the thought process--at least you have a delectable dilemma.

 

[hopeisnotaplan]

Sounds like the BS bucket isn't full and you don't have a driving E.R. wish list that necessitates action. (although the weather here today should have made you grab those golf clubs!) 80% boredom and 20% enjoyment is not bad compared to some of the horror stories conveyed by other posters.

Question--what is the benefit of more working year? Adding onto travel budget (if that's your thing)? Go to Catbird Seat, Husk, etc., every week in retirement (if that's your thing)? Limo Service to and from all concerts, Predators and Sounds games? All of the above?

If you don't have an economic, budget blowing benefit in retirement from working, you should quit--unless the job still is fun enough. And it has to be hard to take that step out of the airplane at 47 (I'll be 57 next year when we step out--much easier after that additional decade, I think)

Good luck with the thought process--at least you have a delectable dilemma.

2017ish--
Good question. You may have hit on one of the reasons. I have a few relatively expensive hobbies. Maybe I'm afraid I'll have to think twice about travel costs or that new Callaway driver...boat...diving...and on and on. Firecalc says I'm okay with my current spending level, but it's hard to really comprehend that when you've been in earn and save mode for years. I think there will be anxiety watching the NW go the other way.

 

[DrRoy]

It sounds like your situation is not perfect, but not horrible either. Perhaps you might just keep on keepin on for the time being, and if the ledger ever seems to be tipping more to the wrong side you know that you are free to pull the plug and RE. Do what seems most comfortable either way.

 

[harley]

Go to Catbird Seat, Husk, etc., every week in retirement (if that's your thing)?

Made me look. I had no idea what those were. I was guessing strip clubs.

 

[samsterdog]

Your situation has some similarities to mine except for the age (I'm 6 years older), stress level (mine was medium to high) and semi-retired DW (mine works full time and wants to continue for the next 9 years). I guess it's not that similar after all.

Regardless, perhaps you should check the possibility of cutting down your time to something that is either still full-time or perhaps part-time. I cut my hours to 32 and stayed full-time until I finally decided to call it quits a year later. Since you are potentially looking at leaving anyway, what's the worst that can happen: Your employer says no? This would give you an extra day off each week. It did help me for a while especially those weeks that my DW was off (she had every other Friday off) which allowed us to take long weekend trips. And if you are bored 80% of the time anyway, is it because you don't have enough to do or the fact that you have been doing the job for a while and it's become tedious? If the former, than it would seem you could get your work done in those 32 hours anyway. If the latter, than beware of stress factors to squeeze 40 hours of work into 32 hours. I was under the latter situation but resisted it as much as possible.

Cheers.

 

[Aerides]

Do you have the option to work from home 1-2 days a week? That or the reduction in hours sounds like a good way to try things out.

It sounds like you don't have any of that gut wrenching anxiety or "i just can't do this another day" feeling that drives most of us out the door... so perhaps you find a date on the calendar that makes most sense financially (post bonus, post 401k match etc.). For example, my MC front loads comp with bonus, profit share, etc., all in 1Q each year. Since 2016 is almost half way in, it might make sense to stay until you get the "rewards" from it as a bit of emotional buffer.

What does your DW think? Is she ready for you to be around all the time or to be fully retired while she's semi?

 

[2017ish]

2017ish--
Good question. You may have hit on one of the reasons. I have a few relatively expensive hobbies. Maybe I'm afraid I'll have to think twice about travel costs or that new Callaway driver...boat...diving...and on and on. Firecalc says I'm okay with my current spending level, but it's hard to really comprehend that when you've been in earn and save mode for years. I think there will be anxiety watching the NW go the other way.

Will that spending level change? I note "boat," and "diving."

We've rough budgeted for the active retirement years. Spending (excluding taxes) will likely go up 50% or more for us, as long as the portfolio allows it. Because it is nearly all discretionary (dive travel, etc.), we've got a lot of wiggle room for pure variable withdrawals. Wouldn't be comfortable making the jump at 47 if calculations were based solely on then current spending--unless you are quite comfortable with those levels not ballooning when you have freedom.

This is definitely one of those "it all depends" things.... And I think I recall prior posts indicating that you've looked into it thoroughly.

 

[petershk]

In a similar position. 41 (almost) 2 young kids... 100% firecalc etc. Don't hate work... don't love it.

Here's a good mental experiment... imagine you're currently retired and you get offered your current job (include benefits, salary, bonus, stock whatever).

Would you leave retirement to take it?

If not you are employed by inertia (that is continue working because that's what you did yesterday).

My gut is if I'm ambivalent about working and don't need the money, the default probably shouldn't be "keep working."

That's been on my mind a lot lately.

Sent from my HTC One_M8 using Early Retirement Forum mobile app

 

[hopeisnotaplan]

I don't think the spending level will change that much, but it's definitely something to think about. I'm expecting to have a few offsetting expense items that go away eventually as well.

 

[hopeisnotaplan]

Do you have the option to work from home 1-2 days a week? That or the reduction in hours sounds like a good way to try things out.

It sounds like you don't have any of that gut wrenching anxiety or "i just can't do this another day" feeling that drives most of us out the door... so perhaps you find a date on the calendar that makes most sense financially (post bonus, post 401k match etc.). For example, my MC front loads comp with bonus, profit share, etc., all in 1Q each year. Since 2016 is almost half way in, it might make sense to stay until you get the "rewards" from it as a bit of emotional buffer.

What does your DW think? Is she ready for you to be around all the time or to be fully retired while she's semi?

I don't have the option to back off to less than full time at the current job. That would have to be accomplished in some other way...taking a hobby job or something else in my field with less time commitment. My DW is ready to support whatever we decide. Her semi-retire commitment is pretty flexible.