Class of 2020

[COcheesehead]

For me the money isn't much of a factor anymore. The question for me is how much longer am I willing to trade my time for money I will probably never spend.

My older brother's best friend died of a sudden heart attack two weeks ago. I have known him quite literally my whole life. He was 51- which is 4 years older than me. That clarified the issue for me.

Answer, not much longer. Less than 200 days on my countdown timer.

That is the conclusion I came to as well. Almost anyone retiring early is going to go out at the top of the pay scale. Yes, you can add more to your NW, but if you can find a place to exchange dollars for time let me know. I haven’t found it yet, LOL.

I also want to do other things while I still can. Have the physical attributes to still travel, hike, bike is important to me. How much is that worth?

 

[Rianne]

That is the conclusion I came to as well. Almost anyone retiring early is going to go out at the top of the pay scale. Yes, you can add more to your NW, but if you can find a place to exchange dollars for time let me know. I haven’t found it yet, LOL.

I also want to do other things while I still can. Have the physical attributes to still travel, hike, bike is important to me. How much is that worth?

+1

 

[Unpaintedhuffhines]

I've been targeting 3/2020 for the past couple of years and I can now see a "glide" path. There has been a reorg and a new CEO for the business unit has taken over. My team has been reorged (without my agreement) and I can immediately see a diminishing role in the future. I have a call with the CEO to talk next week and we'll see how it goes. I'm thinking it's 60/40 of hitting that date. I'm also talking with his boss the following week -- got to love megacorp politics.

Financially, we're fine, well we're more than fine -- but it's always tough to leave a situation where I'm making very good money. Does anybody else look at compensation vs contribution to net worth as a factor? For example (not real numbers), if a person's net worth is 5M and the annual comp is 500k, that's a "10%" contributor. At what threshold should one stay and cruise? I have no risk of being let go, although that would make the decision easier.

I never thought of the contribution v compensation metric, but 100% agree with you that it's tough leaving a situation where one is making very good money. I know my FIL, who worked until he was 75 and is worth probably $15M-$20M, would look at me like I had lobsters crawling out of my ears if (when) I tell him that I'm leaving the job I'm in: "why would you leave that kind of money on the table?!?"

Bottom line: I don't think it matters. What matters is: are you mentally ready and can your investments support your lifestyle?

 

[Mountain skier]

Economic numbers are looking worse and worse. Prepare for equities downturn. This can effect retirement dates. Having 7-10 years cash could solve this problem. That much cash enables one to watch and wait for the next big equity recover without too much stress.

 

[COcheesehead]

Economic numbers are looking worse and worse. Prepare for equities downturn. This can effect retirement dates. Having 7-10 years cash could solve this problem. That much cash enables one to watch and wait for the next big equity recover without too much stress.

THIS. Has been top of mind for the last 2 years for me. Appropriate measures have been taken.

 

[MichaelB]

This forum category is a great place to discuss market timing Stock Picking and Market Strategy - Early Retirement & Financial Independence Community

 

[Bigdawg]

I was originally in 2018. For reasons other than financial (mostly) I have postponed until 2020. DD just returned from a year in Australia (internship) and is heading to Dublin Ireland for grad school next week. DS popped the question and now we have a wedding planned for Sept of 2019. House is being torn down in October with a new one being built in it's place. Estimated completion of May 2019. I turn 55 in 2020 and although I shouldn't need access to my 401K it will be nice to have that option. The plan is to work full time in Jan-Mar of 2020 to fund 2020 401K and catchup. In late March/early April I will go to 30 hours per week and see how that plays out. Customer is already on board. Probably go down to 20/hours per week later in 2020. Funds(MM/CD's) are in place to cover 55-59.5 with a 2K/month draw. Additionally pulling 700/mo for contract for deed and 10k/yr sports officiating. Basically just moving from FIRE+ to FAT FIRE. DW wants to work until at least 2026(55 for her). She may change her mind after I am out of the work force. Best of luck to all of the 2020 class.

Update: DD returned from Dublin with her Master's in Management. Currently interviewing. DS graduated OCS at Quantico last week. He is back in San Diego finishing a few classes before he pins on his 2nd Lt bars. Getting married on 1 Nov. House is built. 3 months in on a 4% mortgage. Looking to refi. NFCU currently has a 3%. Thinking it may drop below 3 in the next 30-60 days. If not I will refi at 3%. A few months ago I dropped to 32 hours/wk. Every Friday off. I am loving it. Loving it enough to go beyond 2020? Doubt it. Current plan is 32/wk through April 2020 to prime 401K then down to 20/wk from home for the rest of 2020. 2020 is my 55 year so most buckets will be available to me.

 

[ugeauxgirl]

Update: DD returned from Dublin with her Master's in Management. Currently interviewing. DS graduated OCS at Quantico last week. He is back in San Diego finishing a few classes before he pins on his 2nd Lt bars. Getting married on 1 Nov. House is built. 3 months in on a 4% mortgage. Looking to refi. NFCU currently has a 3%. Thinking it may drop below 3 in the next 30-60 days. If not I will refi at 3%. A few months ago I dropped to 32 hours/wk. Every Friday off. I am loving it. Loving it enough to go beyond 2020? Doubt it. Current plan is 32/wk through April 2020 to prime 401K then down to 20/wk from home for the rest of 2020. 2020 is my 55 year so most buckets will be available to me.

Sounds like your plan is coming together. Mine is falling apart. I hear God laughing at my plans...

Still, 190 days left on my calendar. Formulating plan B. 190 days left. This week has been awful but I'm off tomorrow, and in 6 hours I'll be sitting on my pier with a cold beverage...

 

[COcheesehead]

Sounds like your plan is coming together. Mine is falling apart. I hear God laughing at my plans...

Still, 190 days left on my calendar. Formulating plan B. 190 days left. This week has been awful but I'm off tomorrow, and in 6 hours I'll be sitting on my pier with a cold beverage...

Just breath.

 

[bada bing]

Rather big news/changes for my personal retirement plans for 2020. Evil-Mega-Big-Oil corp held an "all-hands" teleconference today while I was sleeping (I'm working night shift this week in my monthly rotation). Seems we have been sold. "We" in this case is all the assets of EMBO corp in the state of Alaska. They anticipate it will finalize sometime between April & July of next year. The acquiring company is privately held and is biting off a rather big bite with this acquisition.

So far details are sketchy, but the outcome for me seems to be a severance of 16 months of pay plus an undetermined "completion bonus" if I stay till handover. It doesn't change my retire-in-2020 aspirations, except it makes them certain now. And it looks like with a $250K golden handshake on the way out.

It isn't all roses though. It likely be a substantial economic hit to my home state, Alaska, as the acquiring company will operate with far fewer worker bees here and fewer of them as full time company employees. It also will be a big turmoil for my younger work peers, who will need to transition to a new owner. For me, it just seals the path I was on by choice anyway.

 

[ugeauxgirl]

Congratulations to you! An extra $250K for retiring exactly when you wanted to- doesn't get any better than that!

Rather big news/changes for my personal retirement plans for 2020. Evil-Mega-Big-Oil corp held an "all-hands" teleconference today while I was sleeping (I'm working night shift this week in my monthly rotation). Seems we have been sold. "We" in this case is all the assets of EMBO corp in the state of Alaska. They anticipate it will finalize sometime between April & July of next year. The acquiring company is privately held and is biting off a rather big bite with this acquisition.

So far details are sketchy, but the outcome for me seems to be a severance of 16 months of pay plus an undetermined "completion bonus" if I stay till handover. It doesn't change my retire-in-2020 aspirations, except it makes them certain now. And it looks like with a $250K golden handshake on the way out.

It isn't all roses though. It likely be a substantial economic hit to my home state, Alaska, as the acquiring company will operate with far fewer worker bees here and fewer of them as full time company employees. It also will be a big turmoil for my younger work peers, who will need to transition to a new owner. For me, it just seals the path I was on by choice anyway.

 

[retired1]

So sorry. Hope this makes you feel better...in 2012 we sold our house in MI at a $60K loss. Plus had to update small stuff, faucets, lighting and a few other things (maybe another $5K) to sell. That hurt. But we took the hit and moved on. Those were scary times. Would you consider taking a loss at a lower sale price?

Thanks for posting. We sold Townhome in 2007 for profit & bought SFH in 2007 when market was high. If we sell today, we're looking ~50K loss but still ahead b/c of profit made by selling TH. We might have to swallow the bullet & sell at a loss.

 

[Toocold]

I have great news. The new CEO and I met today and he told me that my role was being eliminated. I had this weird feeling of shock and elation (which I tried to tamper down). I think I am FIRED!

 

[ugeauxgirl]

Does that mean you're graduating early? Congratulations!

 

[kgtest]

FIREd by FIREd? When they did it, did you mention the pleasure was all on your side of the table and tip the hat goodbye!

 

[Toocold]

Does that mean you're graduating early? Congratulations!

Yes. I need to help with the transition, but once that is done, I get a nice send-off with severance including further vestment of stock options. This is much better than my initial plan which was to give notification next year.

When they did it, did you mention the pleasure was all on your side of the table and tip the hat goodbye!

I have been planning this so long, it was interesting how I was feeling: a bit of shock, a bit of relief, and then happiness this morning!

 

[SilentWalker]

99 days to the day I'm planning on turning in my resignation. I will probably offer to stay a month and listen what my boss has to say. The ultimate goal is to agree about the last day before the first of June.

Increasingly experiencing butterflies and other crawlers in my stomach. Coming up with all kinds of perfect storm scenarios that could cause our finances to collapse. Not really realistic at all, but it's in my nature to always worry and include the worst case scenarios in my range of considerations. We will see if I find the guts to carry through with the plan. I wish the megacorp just took the initiative and laid me off or something...

 

[ugeauxgirl]

My count down timer shows 150 days. I'm still dealing with getting all the pieces in place for my retirement package to work. I think I have just accepted that the ideal plan I had in my head just might not come to fruition. I'll make something work, and 150 days from now I'll be on my way out the door.

 

[kgtest]

My count down timer shows 150 days. I'm still dealing with getting all the pieces in place for my retirement package to work. I think I have just accepted that the ideal plan I had in my head just might not come to fruition. I'll make something work, and 150 days from now I'll be on my way out the door.

If it makes you feel better we have at least 2860 days of work over the next 11/12 years. And of course weneed to hit our numbers.

Thankfully I can work remote and suspect that will only get better but I still make the 11mile trek a lot of days.

Goal is to have all debts paid and healthcare figured out before we jump. That's 3 elections away the world will be a different place.

 

[ugeauxgirl]

I didn't express myself well. I have only 150 days left and I'm getting excited. Unfortunately this morning I'm dealing with more retirement plan snafus, which takes some of the happy out of it. It seems that not long ago I was at 200 days and then I decided to stay a little longer for benefits. My timer went up to 900+ days. That was so depressing I had to delete it.

Only 150 more days. Getting real!

If it makes you feel better we have at least 2860 days of work over the next 11/12 years. And of course weneed to hit our numbers.

Thankfully I can work remote and suspect that will only get better but I still make the 11mile trek a lot of days.

Goal is to have all debts paid and healthcare figured out before we jump. That's 3 elections away the world will be a different place.

 

[COcheesehead]

My count down timer shows 150 days. I'm still dealing with getting all the pieces in place for my retirement package to work. I think I have just accepted that the ideal plan I had in my head just might not come to fruition. I'll make something work, and 150 days from now I'll be on my way out the door.

I have about 300 days left. Really starting to think about the nitty gritty. Getting rid of more w*rk clothes on eBay. Thinking about my cash levels. Looking at trips....

Thinking about this level of stuff makes it seem more real.

 

[Draggon]

Just celebrated my 54th birthday yesterday and got an automated "Happy Birthday" reminder from the forum that reminded me I hadn't posted here in a while.

Retirement is 394 Calendar Days +/- 1 or 2 (officially), but I'm planning to stack most of my earned PTO on the end to get out the day before my wedding anniversary next year, 9/23/2020. That means I'm actually under 1 year now! (354 Days, but who's counting?)

My work life is still miserable and is guaranteed to get worse between now and then, but at this point, I'm pretty confident I can persevere! It's getting real!

 

[ugeauxgirl]

Happy birthday! And congratulations on less than a year to go. Enjoy ticking off tasks you never have to do again. I smiled to myself last week when a colleague told me we'd go over this again in a year. She'll have to go over that with someone else...

Something awesome planned for your anniversary?

 

[Draggon]

She'll have to go over that with someone else...

Something awesome planned for your anniversary?

Not yet - maybe as we get closer and the dates align the way I think they should. We do have a Disney World trip planned for early Dec 2020 and a New Year's Eve cruise booked for NYE 2020. That's my retirement celebration trip. We have 5 other couples already booked. Never knew I was that popular! lol

 

[thepalmersinking]

2020, is doable. I would like to retire to get the stock grants and get locked in on the pension and simply go somewhere else for a few years and be productive. I guess I am afraid there is a hidden clause somewhere about noncompete in my defined pension and that is the only thing that keeps me in the 2023 class. Otherwise I would punch out.