DAYDREAMER
Recycles dryer sheets
- Joined
- Mar 26, 2008
- Messages
- 413
Currently working as an engineer at giant company that will be freezing my pension in 2016, but job security is high. I am 48, and was planning on retiring at age 55 and taking advantage of the early retire option, and go out and work with a millionair friend of mine building homes till I decide not to work anymore. The probability of success doing this is actaully quite high, because he and I are pretty skilled with our hands and have a strong will to succeed. He also has 30 million in cash to help any problem that could come up.
Since my pension is being frozen in 2016, I have no reason to stick around past that date.
Current financial status:
1 paid off home worth 400k (keeping because I need the garage)
1 home owe 55k--worth 700k (current residence)
630k in 401k (combined)
wife has 25 years vested in pension
I have 14 years vested
Current salary is 120k and wifes salary is 95k, but only need 48k to live and pay bills. Wife will stay working at her job until she reaches 55, currently 50, and supply us health care till age 65 (retirement perk).
Current engineering job is alright, but the engineering field does not give me the hands on experience I was hoping for when picking a career in college.
I'm thinking about bailing the 9-5 job in 2016 when pension gets frozen, and going into a whole new direction.
Any thoughts?
Since my pension is being frozen in 2016, I have no reason to stick around past that date.
Current financial status:
1 paid off home worth 400k (keeping because I need the garage)
1 home owe 55k--worth 700k (current residence)
630k in 401k (combined)
wife has 25 years vested in pension
I have 14 years vested
Current salary is 120k and wifes salary is 95k, but only need 48k to live and pay bills. Wife will stay working at her job until she reaches 55, currently 50, and supply us health care till age 65 (retirement perk).
Current engineering job is alright, but the engineering field does not give me the hands on experience I was hoping for when picking a career in college.
I'm thinking about bailing the 9-5 job in 2016 when pension gets frozen, and going into a whole new direction.
Any thoughts?