The Day Has Come - Hit Retirement Number - Now What?

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Topic Author
just1question
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The Day Has Come - Hit Retirement Number - Now What?

Post by just1question » Wed Jul 03, 2019 1:48 pm

With the recent run-up in the market, I hit my retirement number today. House paid for, child through college, no real debt. I have 35 years of social security contributions (I've been working at least part time since I was 12), and wife will collect a healthy pension in 10+ years. She loves her job, and intends to continue working, which means I'm covered for health benefits. I've run the numbers on every retirement calculator I could find. Absent a catastrophe, we should be fine. (By the way, I'm in my early 50s and do not like my job.)

I thought I would be ecstatic and racing to my boss's office to give notice. But i find myself numb, and even considering "moving the goal posts" to provide more of a cushion should the market go south or a calamity befall me.

Technically, I could walk in on Monday and give two-weeks notice, no hard feelings, have a good life. But I have no plans for what's next. No dream job that I always wanted but could never pursue because of money. And there are only so many hours in a day I can exercise and play fetch with my dog.

Anybody else ever been in a similar situation, and if so, what did you do?

And to be clear, I'm not complaining about this as a "problem." I feel blessed, and have worked very hard and lived well below my means to get here.

Nissanzx1
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by Nissanzx1 » Wed Jul 03, 2019 1:56 pm

I’d just stay where you are until you find the answer to work that you might really love. Set a goal by X months you are out of that job and on to something you like that’s fulfilling.

This market will pull up and down hard and you will feel much less flush with the major indexes halved when it does go downward. You are still very very young.

deikel
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by deikel » Wed Jul 03, 2019 1:58 pm

Its clearly a problem for you, so its worth asking for suggestions and no different then other peoples problems

You need to work on the something you want to retire to, rather then from at this point. Just because you hit the number, does not mean you have to retire, its just a nice cushion to decline BS at work and say NO more often.

I would also suggest that you think about if you reached the second SS bend point ? It might be worth it to continue up to that point and quit then (if you have not already reached it)

Personally, I would work some more and use the cash to try out all the things and toys and vacations I always wanted to try out and see what sticks - that list should give you an idea of what to retire to when you finally pull the plug.

Take your time and think about what excites you the most, I am sure it takes time to adjust
Everything you read in this post is my personal opinion. If you disagree with this disclaimer, please un-read the text immediately and destroy any copy or remembrance of it.

Rus In Urbe
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by Rus In Urbe » Wed Jul 03, 2019 2:15 pm

Great advice above.

I retire in December, but I've been planning for it for about the past five years (ie. finances, where will we live, and most importantly what will I be doing?).

Common wisdom is to retire TO something, not merely retire from work. If you're not miserable at work, hang with it for another year and see how it feels. Maybe it's part of your identity and you enjoy it, in which case keep working until you don't enjoy it. Knowing that you can walk out the door at any moment may change the dynamic for you. But at the very least, begin devoting more of your time and thoughts to what comes next.

I have found that getting ready for retirement is a long process----as much psychological as anything else.

A few years ago, I came up with my plan so when people ask me what I'll be doing, it's this: Writing, Gardening, Traveling. When I say those three words, I get really excited and happy---I already do them, but now I can devote myself to ONLY those things.

I hope you'll find your Retirement Mantra....Congratulations on making your number! Enjoy it! :sharebeer :beer :sharebeer :beer
I'd like to live as a poor man with lots of money. ~Pablo Picasso

Topic Author
just1question
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by just1question » Wed Jul 03, 2019 2:23 pm

deikel wrote:
Wed Jul 03, 2019 1:58 pm
I would also suggest that you think about if you reached the second SS bend point ? It might be worth it to continue up to that point and quit then (if you have not already reached it)
I've already hit the second bend point, due in part to already having 35 years of work and associated social security contributions. I've calculated the added SS benefit of replacing the contributions from some of those leaner teenage years with higher salaries/contributions from continuing to work, and the added benefit after the second bend point is not that great (but by no means trivial). For each year I continue to work and replace those leaner teenage years (8 years total), I add like $25-30/month to my benefit if I start taking SS at age 62. That's an extra dinner out each month? Not much motivation.

Topic Author
just1question
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by just1question » Wed Jul 03, 2019 2:24 pm

greg24 wrote:
Wed Jul 03, 2019 1:56 pm
Having "F U" money makes it easier to show up for a job you don't like.
+1.

Jack FFR1846
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by Jack FFR1846 » Wed Jul 03, 2019 2:25 pm

greg24 wrote:
Wed Jul 03, 2019 1:56 pm
Having "F U" money makes it easier to show up for a job you don't like.
This.

Say you go in on Monday and get assigned yet another stupid excel file to fill out which is exactly the same as the excel file you've been filling out for years to keep track of the widgets your department has checked but with renamed headings and requiring some combining and breaking out of categories. Just don't fill it out.

When the boss comes in and says that the other department is way behind and he'll need you to come in over the weekend and help by filling out TPS reports. You could either say no or say ok and not show up.

Change your day to coming in late, but make that up by leaving early. Take a longer lunch.

You might say "But Jack....if I do any of that, they're going to fire me".

Yah......so?

If you haven't seen "Office Space", you really need to. Hide your stapler.
Last edited by Jack FFR1846 on Wed Jul 03, 2019 2:26 pm, edited 1 time in total.
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Arabesque
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by Arabesque » Wed Jul 03, 2019 2:25 pm

I have been in your position for about 5 years. I do like my job more, but at 68 it is time to move on. So finally I did accept a buyout, effective next year.

To be mentally positioned to take the buyout, I first stopped thinking of retirement and started thinking of re-invention. One more metamorphosis! I was a decent poet in my youth, and I am going back into the arts full blast, success or not. I’m moving to my favorite city to be closer to family and the arts. I had to think big to take what for many is an obvious step.

I recently read this article and found it amazingly reassuring about my decision (though someone on Forbes wrote a refutation) https://www.google.com/amp/s/amp.theatl ... le/590650/

Good luck figuring out the new you. Don’t take as long as I did.

Topic Author
just1question
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by just1question » Wed Jul 03, 2019 2:30 pm

Jack FFR1846 wrote:
Wed Jul 03, 2019 2:25 pm
greg24 wrote:
Wed Jul 03, 2019 1:56 pm
Having "F U" money makes it easier to show up for a job you don't like.
This.

Say you go in on Monday and get assigned yet another stupid excel file to fill out which is exactly the same as the excel file you've been filling out for years to keep track of the widgets your department has checked but with renamed headings and requiring some combining and breaking out of categories. Just don't fill it out.

When the boss comes in and says that the other department is way behind and he'll need you to come in over the weekend and help by filling out TPS reports. You could either say no or say ok and not show up.

Change your day to coming in late, but make that up by leaving early. Take a longer lunch.

You might say "But Jack....if I do any of that, they're going to fire me".

Yah......so?

If you haven't seen "Office Space", you really need to. Hide your stapler.
Thanks, but respectfully, I'm the type of person that if I'm going to continue to work, I'm going to give 100%. At least, up until the point I would say "F U" and quit.

EnjoyIt
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by EnjoyIt » Wed Jul 03, 2019 2:32 pm

Does your job have the possibility of part time? Part time can be a nice transition. Another option is to see if you are able to take an extended sabbatical. Both of these options will give you plenty of time to try out new things and see what you enjoy doing with your free time.

keep in mind that it may take weeks if not months to decompress from a job you have disliked for many years.

hilltide
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by hilltide » Wed Jul 03, 2019 2:38 pm

Congratulations! Like one of the previous posters stated, It will sure make the job more enjoyable knowing you don't need to stay there if you don't want to. Great accomplishment hitting it in your 50's. Plus your wife is going to continue to work with health insurance. I may need a consultation to figure out where I am going wrong :)

Topic Author
just1question
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by just1question » Wed Jul 03, 2019 2:39 pm

EnjoyIt wrote:
Wed Jul 03, 2019 2:32 pm
Does your job have the possibility of part time? Part time can be a nice transition. Another option is to see if you are able to take an extended sabbatical. Both of these options will give you plenty of time to try out new things and see what you enjoy doing with your free time.

keep in mind that it may take weeks if not months to decompress from a job you have disliked for many years.
Both good questions that I do not have answers to. Strange dynamics at work that I'd rather not get into. But my guess is it would not go over well unless the sabbatical was for medical reasons.

scottinmet
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by scottinmet » Wed Jul 03, 2019 2:39 pm

One alternative is to find another job completely unrelated to your current job. If you've been working with the same people for 20 or 30 years then it will be good to get to know other people and what sorts of ideas and ambitions they have. That may spark something in you and at the same time you will still have some purpose in your life. This is expanding your horizons and getting paid at the same time.

Topic Author
just1question
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by just1question » Wed Jul 03, 2019 2:40 pm

hilltide wrote:
Wed Jul 03, 2019 2:38 pm
Congratulations! Like one of the previous posters stated, It will sure make the job more enjoyable knowing you don't need to stay there if you don't want to. Great accomplishment hitting it in your 50's. Plus your wife is going to continue to work with health insurance. I may need a consultation to figure out where I am going wrong :)
I got lucky in the marriage department. Strangely, she thinks the same. So clearly she's not perfect.

delamer
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by delamer » Wed Jul 03, 2019 2:42 pm

With your wife intending to continue to work for 10+ years, you really need to make sure that you have plenty of independent activities to fill your days if you retire soon.

There will be limits to how much time you can spend together on a day-to-day basis, not to mention travel.

Some people do really well in the above situation, but it is dependent on how many interests and retired friends that they have.

Topic Author
just1question
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by just1question » Wed Jul 03, 2019 2:44 pm

delamer wrote:
Wed Jul 03, 2019 2:42 pm
With your wife intending to continue to work for 10+ years, you really need to make sure that you have plenty of independent activities to fill your days if you retire soon.

There will be limits to how much time you can spend together on a day-to-day basis, not to mention travel.

Some people do really well in the above situation, but it is dependent on how many interests and retired friends that they have.
I don't have any retired friends. Now, I have a lot of friends who want to retire, but that is completely different.

barnaclebob
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by barnaclebob » Wed Jul 03, 2019 2:47 pm

Start giving your real opinion at work and watch yourself get promoted for having a bold vision.

Nicolas
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by Nicolas » Wed Jul 03, 2019 2:53 pm

Jack FFR1846 wrote:
Wed Jul 03, 2019 2:25 pm
greg24 wrote:
Wed Jul 03, 2019 1:56 pm
Having "F U" money makes it easier to show up for a job you don't like.
This.

Say you go in on Monday and get assigned yet another stupid excel file to fill out which is exactly the same as the excel file you've been filling out for years to keep track of the widgets your department has checked but with renamed headings and requiring some combining and breaking out of categories. Just don't fill it out.

When the boss comes in and says that the other department is way behind and he'll need you to come in over the weekend and help by filling out TPS reports. You could either say no or say ok and not show up.

Change your day to coming in late, but make that up by leaving early. Take a longer lunch.

You might say "But Jack....if I do any of that, they're going to fire me".

Yah......so?

If you haven't seen "Office Space", you really need to. Hide your stapler.
I’m not the OP but personally that’s something I could never do. I’m retired now but I wouldn’t even call in sick unless I was really sick to the point I couldn’t work. Maybe I’m the only one but it just wouldn’t set well with me.

Dottie57
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by Dottie57 » Wed Jul 03, 2019 2:56 pm

greg24 wrote:
Wed Jul 03, 2019 1:56 pm
Having "F U" money makes it easier to show up for a job you don't like.
Bingo.

Topic Author
just1question
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by just1question » Wed Jul 03, 2019 2:57 pm

barnaclebob wrote:
Wed Jul 03, 2019 2:47 pm
Start giving your real opinion at work and watch yourself get promoted for having a bold vision.
Not helpful. Funny ..., but not helpful. LOL

Dottie57
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by Dottie57 » Wed Jul 03, 2019 3:05 pm

Jack FFR1846 wrote:
Wed Jul 03, 2019 2:25 pm
greg24 wrote:
Wed Jul 03, 2019 1:56 pm
Having "F U" money makes it easier to show up for a job you don't like.
This.

Say you go in on Monday and get assigned yet another stupid excel file to fill out which is exactly the same as the excel file you've been filling out for years to keep track of the widgets your department has checked but with renamed headings and requiring some combining and breaking out of categories. Just don't fill it out.

When the boss comes in and says that the other department is way behind and he'll need you to come in over the weekend and help by filling out TPS reports. You could either say no or say ok and not show up.

Change your day to coming in late, but make that up by leaving early. Take a longer lunch.

You might say "But Jack....if I do any of that, they're going to fire me".

Yah......so?

If you haven't seen "Office Space", you really need to. Hide your stapler.
For the most part I agree and do hide the stapler. Relax a bit at work. Work the 8 to 5 with a decent lunch break. But don’t volunteer for overtime. Make sure you have weekend plans. Volunteer to train others on your job. In fact, maybe try to make yourself redundant so you are laid off with a nice severence package!

crossbow
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by crossbow » Wed Jul 03, 2019 3:09 pm

just1question wrote:
Wed Jul 03, 2019 2:57 pm
barnaclebob wrote:
Wed Jul 03, 2019 2:47 pm
Start giving your real opinion at work and watch yourself get promoted for having a bold vision.
Not helpful. Funny ..., but not helpful. LOL
Well that depends on what your real opinion at work is :D

Edit: and congratulations! I cannot wait to be in your shoes.

sf_tech_saver
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by sf_tech_saver » Wed Jul 03, 2019 3:12 pm

Freedom is the goal not retirement IMHO. Others have said it well here -- having a cushion makes it easier to go to any job.

I hit a ~$5M net worth and wife has a great job -- so I 'could' conceptually retire but I'm 41 so no plans of doing that. Its taken me a full year to work through the feelings around it and what I want to do next. I decided to keep doing the job I had before which brought me a ton of stress but with no emotional attachment to any of the concerns I had for the health of the company beyond my immediate circle of work friends.

My only advice is to give yourself at least a year to even figure out how you feel about it. You've never had these options before -- take time to process them.
Last edited by sf_tech_saver on Wed Jul 03, 2019 3:17 pm, edited 1 time in total.
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123
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by 123 » Wed Jul 03, 2019 3:17 pm

Look around for a job you would enjoy more (regardless of pay). If you stop work at your age your friends will become suspicious/jealous and you may have more explaining to do (which really won't do any good). Unless you've got friends who are already retired you'll have the weekdays to yourself much of the day. Nothing wrong with that if you've got interests you can do my yourself (exercise, hobbies, home maintenance).
The closest helping hand is at the end of your own arm.

chicagoan23
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by chicagoan23 » Wed Jul 03, 2019 3:39 pm

See if there is an opportunity for you to freelance in your field, perhaps even with your current employer. With no concern about income you can take on projects at your discretion. That way you’re still “working” to the world at large but maybe only a few hours per week.

Make sure you get plenty of business liability insurance, however.

Dottie57
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by Dottie57 » Wed Jul 03, 2019 4:02 pm

Nicolas wrote:
Wed Jul 03, 2019 2:53 pm
Jack FFR1846 wrote:
Wed Jul 03, 2019 2:25 pm
greg24 wrote:
Wed Jul 03, 2019 1:56 pm
Having "F U" money makes it easier to show up for a job you don't like.
This.

Say you go in on Monday and get assigned yet another stupid excel file to fill out which is exactly the same as the excel file you've been filling out for years to keep track of the widgets your department has checked but with renamed headings and requiring some combining and breaking out of categories. Just don't fill it out.

When the boss comes in and says that the other department is way behind and he'll need you to come in over the weekend and help by filling out TPS reports. You could either say no or say ok and not show up.

Change your day to coming in late, but make that up by leaving early. Take a longer lunch.

You might say "But Jack....if I do any of that, they're going to fire me".

Yah......so?

If you haven't seen "Office Space", you really need to. Hide your stapler.
I’m not the OP but personally that’s something I could never do. I’m retired now but I wouldn’t even call in sick unless I was really sick to the point I couldn’t work. Maybe I’m the only one but it just wouldn’t set well with me.
Just remember working is a fair trade. I tried my very best at work. I ended up with an ulcer. That wasn't a fair trade and was entirely my fault.. And I can tell you going into work enables any bug you have to be transmitted to your co-workers - which is not fair.

Good luck in deciding whatto do.

HomeStretch
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by HomeStretch » Wed Jul 03, 2019 4:10 pm

Congratulations!

Good suggestion to find part time work until you are ready to fully retire with hobbies, etc.

Is your retirement number “enough” if your wife is unable to work and you have to pay for non-employer health benefits?

StealthRabbit
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by StealthRabbit » Wed Jul 03, 2019 4:13 pm

Congrats...
Don't jump ship just yet! If you hit your numbers in the UP market... next week (or next yr) might be an adjustment you didn't anticipate. :twisted:

Good advice above, Moderately continue working until a 'plan' develops.
Don't be afraid to 'retire', just be READY!!! BTDT 3x... my last at age 49. (no HC, No Pension, single (hourly) earner family since inception... i.e. poor by most stds ...)

Consider reading 'Die Broke', it's a 'vintage read', but basically about shifting your idea of WORKING for the MAN... to marketing / using your time and talent as best possible (might be on current job, might not...)

Book Premise... "Quit your job, don't tell your boss"... i.e. show up, do what's required, get a life (beyond work). When the right time comes... leave!

I also liked to take sabbaticals / time W/O pay. Usually a few months / yr, sometimes entire yr away. (We homeschooled, so took 3+ month field trips) I had a very understanding and supportive employer. Think 2x before leaving (whoops).

flyingaway
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by flyingaway » Wed Jul 03, 2019 4:16 pm

If you like travel, then retire and travel the world.
Otherwise work to make more money so your wife can retire early.

Dandy
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by Dandy » Wed Jul 03, 2019 4:21 pm

I can relate to that but when I reached my number in 2008 I was forced into retirement and saw my number fade by 25%. My focus was to reach my number and get through my work. But, I was 60 with a stay at home wife. I had a lot of work outside and inside the house to keep me occupied to some extent. I took a long walk each morning which helped clear my mind ( I hope my lips weren't moving).

I also had to focus on getting my financials in shape. Consolidating 401ks from 2 firms to Vanguard also moving a brokerage account. Wasn't sure those firms were going to survive. Our oldest daughter had a baby which helped to have a positive focus and spent some time helping both kids.

There are still stretches of time that is not very occupied especially winter. I think at an earlier age the challenge would be greater. Volunteer work should have been pursued but never did it to my lasting regret. Helping others gives lots of meaning to life.

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Watty
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by Watty » Wed Jul 03, 2019 4:35 pm

If you are not ready to retire then find a job that you do like.
HomeStretch wrote:
Wed Jul 03, 2019 4:10 pm
Is your retirement number “enough” if your wife is unable to work and you have to pay for non-employer health benefits?
That is a very good point.

livesoft
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by livesoft » Wed Jul 03, 2019 4:44 pm

OMY!!
Wiki This signature message sponsored by sscritic: Learn to fish.

bhsince87
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by bhsince87 » Wed Jul 03, 2019 4:50 pm

I was in a similar position around age 50. Except with no nice pension to look forward to and with a wife who wanted to retire as well. And I was sort of underwhelmed with the condition and prospects as well.

I did a series of "one more years". First I moved the goalposts. I kept saving until I was sure we could make it with zero Social Security, a 50% market drop, and shelling out $40k per year for health insurance/care.

We hit those numbers, and then I decided a good goal would be to work until the year I turned 55.

In the meantime, I looked all over for a part time job in my current field. I begged and pleaded at my current employer too. Even asked for a 3 month sabbatical. But no deal.

I did slack off at work. I mean, I did my job, but I worked a strict 40 hour week, versus the 50+ I did before. I refused to travel as much too. And I let my upper management know that if a down turn came and they were offering severance, I would be willing to "sacrifice" my job to save someone else.

In December last year, I got the call asking if I was still interested in a buyout. I took it. I was 53 at the time (54 now), and the package was enough that I essentially get paid until next year. So I sort of hit my age 55 goal.

I intentionally gave myself six months of doing nothing related to work. And now that I'm in my 6th month of retirement, guess what? I want to go back to work again! Probably not full time. But I do want to do some consulting and freelance writing. I miss working on BIG problems, and I miss working with the best of the best engineers.

That is one good thing about retiring early. You get a chance to give it a try. And if it's not your thing, you can probably find SOMETHING else to do work wise.

So don't think of it as a permanent decision. You might want to give it a go and see how it feels. You have lots of options now.
"If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace." Samuel Adams

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White Coat Investor
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by White Coat Investor » Wed Jul 03, 2019 5:03 pm

just1question wrote:
Wed Jul 03, 2019 1:48 pm
With the recent run-up in the market, I hit my retirement number today. House paid for, child through college, no real debt. I have 35 years of social security contributions (I've been working at least part time since I was 12), and wife will collect a healthy pension in 10+ years. She loves her job, and intends to continue working, which means I'm covered for health benefits. I've run the numbers on every retirement calculator I could find. Absent a catastrophe, we should be fine. (By the way, I'm in my early 50s and do not like my job.)

I thought I would be ecstatic and racing to my boss's office to give notice. But i find myself numb, and even considering "moving the goal posts" to provide more of a cushion should the market go south or a calamity befall me.

Technically, I could walk in on Monday and give two-weeks notice, no hard feelings, have a good life. But I have no plans for what's next. No dream job that I always wanted but could never pursue because of money. And there are only so many hours in a day I can exercise and play fetch with my dog.

Anybody else ever been in a similar situation, and if so, what did you do?

And to be clear, I'm not complaining about this as a "problem." I feel blessed, and have worked very hard and lived well below my means to get here.
I kept working. It turns out I was working for more than the money.
1) Invest you must 2) Time is your friend 3) Impulse is your enemy | 4) Basic arithmetic works 5) Stick to simplicity 6) Stay the course

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just1question
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by just1question » Wed Jul 03, 2019 5:12 pm

HomeStretch wrote:
Wed Jul 03, 2019 4:10 pm
Congratulations!

Good suggestion to find part time work until you are ready to fully retire with hobbies, etc.

Is your retirement number “enough” if your wife is unable to work and you have to pay for non-employer health benefits?
Part-time job is what I'm thinking. Wife being unable to work could be catastrophic, depending on why she can't work, specifically how bad the health problem is. If she decides she's had enough and simply wanted to retire, we'd have to cut way back but might be able to make it work.

Topic Author
just1question
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by just1question » Wed Jul 03, 2019 5:15 pm

flyingaway wrote:
Wed Jul 03, 2019 4:16 pm
If you like travel, then retire and travel the world.
Otherwise work to make more money so your wife can retire early.
She doesn't want to retire. She finds her job fulfilling. Go figure. I will admit, one of the things holding me back is the guilt of not working while she continues. I think my conscious would force me to eventually find a new job, even if part-time.

nick evets
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by nick evets » Wed Jul 03, 2019 6:05 pm

StealthRabbit wrote:
Wed Jul 03, 2019 4:13 pm

Book Premise... "Quit your job, don't tell your boss"... i.e. show up, do what's required, get a life (beyond work). When the right time comes... leave!
Ugh, who feels good about that?? It's not fair to your co-workers, your employer, nor yourself, unless you're already someone who puts forth only the minimum. In which case I doubt you'd be asking this question on BH. :)

After reading the OP, I thought I am reading my own story. Nothing to really add beyond appreciating the power and the positive energy being able to leave, provides.

Nicolas
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by Nicolas » Wed Jul 03, 2019 6:09 pm

Dottie57 wrote:
Wed Jul 03, 2019 4:02 pm
Nicolas wrote:
Wed Jul 03, 2019 2:53 pm
Jack FFR1846 wrote:
Wed Jul 03, 2019 2:25 pm
greg24 wrote:
Wed Jul 03, 2019 1:56 pm
Having "F U" money makes it easier to show up for a job you don't like.
This.

Say you go in on Monday and get assigned yet another stupid excel file to fill out which is exactly the same as the excel file you've been filling out for years to keep track of the widgets your department has checked but with renamed headings and requiring some combining and breaking out of categories. Just don't fill it out.

When the boss comes in and says that the other department is way behind and he'll need you to come in over the weekend and help by filling out TPS reports. You could either say no or say ok and not show up.

Change your day to coming in late, but make that up by leaving early. Take a longer lunch.

You might say "But Jack....if I do any of that, they're going to fire me".

Yah......so?

If you haven't seen "Office Space", you really need to. Hide your stapler.
I’m not the OP but personally that’s something I could never do. I’m retired now but I wouldn’t even call in sick unless I was really sick to the point I couldn’t work. Maybe I’m the only one but it just wouldn’t set well with me.
Just remember working is a fair trade. I tried my very best at work. I ended up with an ulcer. That wasn't a fair trade and was entirely my fault.. And I can tell you going into work enables any bug you have to be transmitted to your co-workers - which is not fair.

Good luck in deciding whatto do.
Undoubtedly you’re right, let others take instruction. For me the question is moot as I’ll never work a day for pay again.

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mrspock
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by mrspock » Wed Jul 03, 2019 6:29 pm

just1question wrote:
Wed Jul 03, 2019 1:48 pm
With the recent run-up in the market, I hit my retirement number today. House paid for, child through college, no real debt. I have 35 years of social security contributions (I've been working at least part time since I was 12), and wife will collect a healthy pension in 10+ years. She loves her job, and intends to continue working, which means I'm covered for health benefits. I've run the numbers on every retirement calculator I could find. Absent a catastrophe, we should be fine. (By the way, I'm in my early 50s and do not like my job.)
...
I'm confused, if you don't like your job, why on earth would you keep doing it?

As for what to do? Downshift. It doesn't have to be retire or work full-time. See if you can find something in the middle? I'd also run the thought experiment on how much you'd "pay" on your deathbed for a few extra years to travel, spend time with friend/family, bucket list items etc. Another fun exercise is going to a website which has a "box" for everyday you have lived, and your expected lifespan. Note how many of those boxes are "X'd"? Now get rid of 1/3 of them...you need to sleep. How many of those without an "X" will you be healthy enough to travel, and rigorous activities? This will put things in perspective.

After doing this -- Still feel like going into work tomorrow? Full-time? Surely there's some things you want to do? Things to try? Places you'd like to "live like a local"? Friends & family you want to spend more time with? Hobbies you want to pursue? Places you want to volunteer? Instruments you always wanted to learn to play? You are on this earth for a pretty short time, I wouldn't waste them working a gig you don't enjoy...and don't really need.

3-20Characters
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by 3-20Characters » Wed Jul 03, 2019 6:37 pm

Jack FFR1846 wrote:
Wed Jul 03, 2019 2:25 pm
greg24 wrote:
Wed Jul 03, 2019 1:56 pm
Having "F U" money makes it easier to show up for a job you don't like.
This.

Say you go in on Monday and get assigned yet another stupid excel file to fill out which is exactly the same as the excel file you've been filling out for years to keep track of the widgets your department has checked but with renamed headings and requiring some combining and breaking out of categories. Just don't fill it out.

When the boss comes in and says that the other department is way behind and he'll need you to come in over the weekend and help by filling out TPS reports. You could either say no or say ok and not show up.

Change your day to coming in late, but make that up by leaving early. Take a longer lunch.

You might say "But Jack....if I do any of that, they're going to fire me".

Yah......so?

If you haven't seen "Office Space", you really need to. Hide your stapler.
According to the office space script, this behavior will get him labeled a go getter and promoted. :D

................
Apropos sig:
I take my margaritas with no salt. NO salt!

Bacchus01
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by Bacchus01 » Wed Jul 03, 2019 6:40 pm

If you do get another job, ask yourself “would I do this for free?”

If the answer is yes, that’s the job for you. If not, why in the world would you do it?

As for your current job, you could just lay down on the job. Just coast. Work the absolute minimum. Wait for a severance.

elainet7
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by elainet7 » Wed Jul 03, 2019 7:28 pm

When you win the game cash in your chips
Bulls make money. Bears make money. Pigs get slaughtered
Think bonds

k3vb0t
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by k3vb0t » Wed Jul 03, 2019 7:34 pm

It sounds like you’re not quite ready if your wife being unable to work for the next 10 years would be catastrophic. All of the other points made here are valid, but that sticks out as a giant red flag to me. Sure, she might be able to go the full 10 years but what if she can’t?

I’d work until you can both hang it up so you don’t find yourself needing to find a job after being out 2-5 years or having to make a huge shift in how you live.

CoastalWinds
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by CoastalWinds » Wed Jul 03, 2019 7:34 pm

Jack FFR1846 wrote:
Wed Jul 03, 2019 2:25 pm
greg24 wrote:
Wed Jul 03, 2019 1:56 pm
Having "F U" money makes it easier to show up for a job you don't like.
This.

Say you go in on Monday and get assigned yet another stupid excel file to fill out which is exactly the same as the excel file you've been filling out for years to keep track of the widgets your department has checked but with renamed headings and requiring some combining and breaking out of categories. Just don't fill it out.

When the boss comes in and says that the other department is way behind and he'll need you to come in over the weekend and help by filling out TPS reports. You could either say no or say ok and not show up.

Change your day to coming in late, but make that up by leaving early. Take a longer lunch.

You might say "But Jack....if I do any of that, they're going to fire me".

Yah......so?

If you haven't seen "Office Space", you really need to. Hide your stapler.
“Look Lumbergh, I’m really busy. Go away.” (Playing Tetris and eating skittles). 😂

Topic Author
just1question
Posts: 79
Joined: Thu Mar 21, 2019 1:36 pm

Re: The Day Has Come - Hit Retirement Number - Now What?

Post by just1question » Wed Jul 03, 2019 7:43 pm

k3vb0t wrote:
Wed Jul 03, 2019 7:34 pm
It sounds like you’re not quite ready if your wife being unable to work for the next 10 years would be catastrophic. All of the other points made here are valid, but that sticks out as a giant red flag to me. Sure, she might be able to go the full 10 years but what if she can’t?

I’d work until you can both hang it up so you don’t find yourself needing to find a job after being out 2-5 years or having to make a huge shift in how you live.
Maybe I wasn't clear, which is my fault. I've known people who have had catastrophic health problems, say dementia or non-operable cancer. If something that catastrophic happened to her, I don't know how we would be able to handle it financially, because I don't know what the full financial implications would be. That was the point I was very inarticulately trying to make. Outside of that, I think financially we will be fine and will be able to weather bumps along the road.-+

Topic Author
just1question
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by just1question » Wed Jul 03, 2019 7:48 pm

Bacchus01 wrote:
Wed Jul 03, 2019 6:40 pm

As for your current job, you could just lay down on the job. Just coast. Work the absolute minimum. Wait for a severance.
My parents instilled some idiotic value system in my that would prevent me from just coasting. Damn parents. JK.

I'm a lawyer at a law firm. No work, no pay. Also, I've seen many attorneys shown the door over the years (mostly at my previous firm), but never one with a severance package.

k3vb0t
Posts: 374
Joined: Mon Jun 02, 2014 4:42 pm

Re: The Day Has Come - Hit Retirement Number - Now What?

Post by k3vb0t » Wed Jul 03, 2019 7:50 pm

just1question wrote:
Wed Jul 03, 2019 7:43 pm
k3vb0t wrote:
Wed Jul 03, 2019 7:34 pm
It sounds like you’re not quite ready if your wife being unable to work for the next 10 years would be catastrophic. All of the other points made here are valid, but that sticks out as a giant red flag to me. Sure, she might be able to go the full 10 years but what if she can’t?

I’d work until you can both hang it up so you don’t find yourself needing to find a job after being out 2-5 years or having to make a huge shift in how you live.
Maybe I wasn't clear, which is my fault. I've known people who have had catastrophic health problems, say dementia or non-operable cancer. If something that catastrophic happened to her, I don't know how we would be able to handle it financially, because I don't know what the full financial implications would be. That was the point I was very inarticulately trying to make. Outside of that, I think financially we will be fine and will be able to weather bumps along the road.-+
Okay that’s better but you also say if she wanted to retire you’d have to cut way back. That’s what is driving your guilt, I’d think. Like getting what you want while she continues to work, but the thought of her changing her mind and not being able to retire.

At least that’s how I read the situation now.

Have you talked with her about your guilt?

Either way I’d probably work a little bit longer to boost your accounts to where if she did change her mind you’d be okay. Have you calculated what that number/cutoff is based on 1,2, 3 etc. years more of work from you both?

desiderium
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by desiderium » Wed Jul 03, 2019 8:06 pm

just1question wrote:
Wed Jul 03, 2019 7:48 pm
Bacchus01 wrote:
Wed Jul 03, 2019 6:40 pm

As for your current job, you could just lay down on the job. Just coast. Work the absolute minimum. Wait for a severance.
My parents instilled some idiotic value system in my that would prevent me from just coasting. Damn parents. JK.

I'm a lawyer at a law firm. No work, no pay. Also, I've seen many attorneys shown the door over the years (mostly at my previous firm), but never one with a severance package.
I am in a similar conundrum. Not a lawyer, but in a professional role I basically like, but work conditions tiresome and a disorganized large health care corporation run by people who don't know what they don't know. Like you I have a good deal of experience that amounts to substantial human capital. Start by discarding the urge to save any more money. Explore options that take down the load and stress a notch and might permit you to stay in touch with the rewarding aspects of your work. If you can more or less make your spend, you will worry less about giving up income and have time to develop your other interests.

bltn
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by bltn » Wed Jul 03, 2019 8:14 pm

sf_tech_saver wrote:
Wed Jul 03, 2019 3:12 pm
Freedom is the goal not retirement IMHO. Others have said it well here -- having a cushion makes it easier to go to any job.

I hit a ~$5M net worth and wife has a great job -- so I 'could' conceptually retire but I'm 41 so no plans of doing that. Its taken me a full year to work through the feelings around it and what I want to do next. I decided to keep doing the job I had before which brought me a ton of stress but with no emotional attachment to any of the concerns I had for the health of the company beyond my immediate circle of work friends.

My only advice is to give yourself at least a year to even figure out how you feel about it. You've never had these options before -- take time to process them.
Useful.

mhalley
Posts: 7646
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Re: The Day Has Come - Hit Retirement Number - Now What?

Post by mhalley » Wed Jul 03, 2019 10:22 pm

What’s your AA? Might consider cutting it back if it is more than 60/40. As Bernstein says, if you’ve won the game, stop playing.
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