To be safe, if you think your at risk and with 80% you likely are.. you need to re-think full retirement. I hate my job so much I go home often and want to just cry in frustration. I make 6 figures plus and on retention bonus, so walking away is like throwing money into the furnace...but in January Im' doing it.. I'm walking away. We are going to move, downsize, move back to an apartment to fix our expenses the next 5 years.. and find stuff that makes us happy and just make ends meet. That gives us at least 5 years to allow my nest egg to grow to the point I'll be at 95% or better on Firecalc. So instead drawing down the nest egg, I only need to take out 1/2 and 1/2 will come from income.. maybe something like that will work for you too.. that way the money can still snowball, but you can use some of it now to cushion a job change and potential decrease in pay.
I hate my job should I Early Out?
- Thread starter I_m_Pi_my_friend
- Start date
Samething
Recycles dryer sheets
- Joined
- Aug 20, 2014
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- 139
I know I personally wouldn't feel safe with a 80% firecalc chance of success. However it is not healthy to stay at a job you hate. Look at your expenses I was pleasantly surprised with what I was able to save when I took the time to think about ways to save. I wish you the best I know how much it s*cks to go to a job you hate. I'm there with you right now. I feel blessed that I have enough resources to get out soon while I still have my health. Good luck!!!
Car-Guy
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
There is no way, I'd retire with FireCala showing only 80%. I waited until FireCala said 100% and my own spreadsheets agreed with that plus 20%. I didn't hate my job but it was "work" and I worked a few years longer than planned to give me a comfortable surplus. But everyone has to find their own balance.
Sunset
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Since you are approaching 60, you need to ask yourself why you don't have more saved ?
Are you maxing to the limit 401K ? plus sticking $6,500 into Roth each year for yourself and spouse(?).
Write down all your expenses in a spreadsheet, track them, see where the money is going and cut back.
Then you will be able to retire earlier, otherwise you will probably be working until 65.
Are you maxing to the limit 401K ? plus sticking $6,500 into Roth each year for yourself and spouse(?).
Write down all your expenses in a spreadsheet, track them, see where the money is going and cut back.
Then you will be able to retire earlier, otherwise you will probably be working until 65.
