I have an opportunity to take a severance and transition to FI and am trying to think it through. Even though the math says I should stay, everything else tells me I should call it a day. Any feedback would be helpful.
My stats right now are about (see breakdown from a few months back for more granular details):
Net Worth - 6.1m
VHCOL Area
Cash - 600k
Equities - 2.5m
Real Estate - 3m
Real Estate Rental Net Cash Flow - $14k-$15k/mo
Currently Monthly Spend - ~$5k/mo, maybe $6k/mo.
Overall, my numbers feel solid and I've been hating work since forever.
My options would be:
#1 - Take Severance starting in Sept.
- 3 months of pay
- COBRA
- pro-rated bonus for 2023
- relaxation/ no more stress
#2 - Stay on through bonus Period next March
- 6 months of pay
- Health insurance
- Full bonus (i'm assuming it will be paid)
- RSU vest ($60k)
- Less of a tax hit, pay spread over time
- Easier ability to get loans for investment deals.
Current total compensation is around $600k/yr.
Anyway, I feel I'm asking for confirmation bias to make sure. Any thoughts either way would be appreciated. Trying to get rid of these golden handcuffs.
My stats right now are about (see breakdown from a few months back for more granular details):
Net Worth - 6.1m
VHCOL Area
Cash - 600k
Equities - 2.5m
Real Estate - 3m
Real Estate Rental Net Cash Flow - $14k-$15k/mo
Currently Monthly Spend - ~$5k/mo, maybe $6k/mo.
Overall, my numbers feel solid and I've been hating work since forever.
My options would be:
#1 - Take Severance starting in Sept.
- 3 months of pay
- COBRA
- pro-rated bonus for 2023
- relaxation/ no more stress
#2 - Stay on through bonus Period next March
- 6 months of pay
- Health insurance
- Full bonus (i'm assuming it will be paid)
- RSU vest ($60k)
- Less of a tax hit, pay spread over time
- Easier ability to get loans for investment deals.
Current total compensation is around $600k/yr.
Anyway, I feel I'm asking for confirmation bias to make sure. Any thoughts either way would be appreciated. Trying to get rid of these golden handcuffs.