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Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
bwalling
Posts: 568
Joined: Thu Nov 25, 2010 12:04 pm

Re: Should I look for a new job or call it done?

Post by bwalling »

Ed 2 wrote: Tue Jun 15, 2021 5:18 am
marcopolo wrote: Mon Jun 14, 2021 11:15 pm
Ed 2 wrote: Mon Jun 14, 2021 9:36 pm
newbie28 wrote: Sun Jun 13, 2021 12:38 pm Should I look for a new job or call it done? I hate my current job and it is taking a toll on my health. We are both 55, the house is already paid off. We can easily live on 2% of withdrawal rate, more likely close to 1.5%. My main concern is the health insurance from now until Medicare kicks in. What would you do if you are in my shoes?
You don’t know if you can afford to live on 2% of withdrawal rate if you don’t know how you can afford future health costs. You have to be certain.
Then no one would ever be able to retire. There is no certainty.
I do. There are numbers in net worth when you can be certain ;$)
If you're going to argue rare cases, then no, you can't be certain, even if you think you can.

2% is very safe. Retire, and stop worrying about work.
marcopolo
Posts: 8445
Joined: Sat Dec 03, 2016 9:22 am

Re: Should I look for a new job or call it done?

Post by marcopolo »

Ed 2 wrote: Tue Jun 15, 2021 5:18 am
marcopolo wrote: Mon Jun 14, 2021 11:15 pm
Ed 2 wrote: Mon Jun 14, 2021 9:36 pm
newbie28 wrote: Sun Jun 13, 2021 12:38 pm Should I look for a new job or call it done? I hate my current job and it is taking a toll on my health. We are both 55, the house is already paid off. We can easily live on 2% of withdrawal rate, more likely close to 1.5%. My main concern is the health insurance from now until Medicare kicks in. What would you do if you are in my shoes?
You don’t know if you can afford to live on 2% of withdrawal rate if you don’t know how you can afford future health costs. You have to be certain.
Then no one would ever be able to retire. There is no certainty.
I do. There are numbers in net worth when you can be certain ;$)
I don't think that word means what you think it means.

You have greatly improved your probability with your number, congratulations. But "certain"? There is no such thing.
Once in a while you get shown the light, in the strangest of places if you look at it right.
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gr7070
Posts: 1928
Joined: Fri Oct 28, 2011 10:39 am

Re: Should I look for a new job or call it done?

Post by gr7070 »

Do you want to work or not work?
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newbie28
Posts: 21
Joined: Fri Dec 25, 2015 12:08 am

Re: Should I look for a new job or call it done?

Post by newbie28 »

I don't mind to work a few more years if the job is not so stressful. It's just mentally not prepare for retirement at this point.
bltn
Posts: 1844
Joined: Mon Feb 20, 2017 8:32 pm

Re: Should I look for a new job or call it done?

Post by bltn »

newbie28 wrote: Tue Jun 15, 2021 2:35 pm I don't mind to work a few more years if the job is not so stressful. It's just mentally not prepare for retirement at this point.
Can an adjustment be made to your job to reduce the stress? Would a reduction in stress justify a cut in pay? Should you look for another job?
I can understand your feeling that 55 seems a bit young to retire. But I m old fashioned. Emphasis on old!!
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hand
Posts: 2201
Joined: Sun May 17, 2009 8:42 pm

Re: Should I look for a new job or call it done?

Post by hand »

newbie28 wrote: Sun Jun 13, 2021 12:38 pm Should I look for a new job or call it done? I hate my current job and it is taking a toll on my health. We are both 55, the house is already paid off. We can easily live on 2% of withdrawal rate, more likely close to 1.5%. My main concern is the health insurance from now until Medicare kicks in. What would you do if you are in my shoes?
A bit of a false dichotomy - as others have noted, your true options exist on a continuum:

Quit tomorrow
Quit in 2 weeks
Quit as of some predetermined point in the future
Downshift / retire in place at your current company in a way that does not impact your health
Quit then begin a search for a new job
Keep current job until you have an alternate job offer firmly in hand

Whatever you choose, I can't imagine a rational person actively choosing to trade their finite (and quickly dwindling) supply health and time for money that is not needed.

To some extent retirement is the great unknown, and I'd imagine an unstructured retirement full of wasted days could be worse than working for some. Perhaps spend some time defining what it is that you'd retire to would make you more comfortable about the "no work" side of the continuum.
North
Posts: 57
Joined: Wed Mar 19, 2014 9:08 am

Re: Should I look for a new job or call it done?

Post by North »

I disagree that you should immediately resign. Since your job is adversely affecting your health, go out on disability for 6 months, continue to receive full pay and benefits, then use up all your vacation, then resign.
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