Author Topic: Financial independence feels damn good!  (Read 4326 times)

COlady

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Financial independence feels damn good!
« on: June 13, 2016, 02:09:03 PM »
Everyone in my office is running around like a bunch of lunatics. It's been a long time coming but our Company just announced a restructuring and it sounds like layoffs are imminent (O&G company). Most of the people around me have worked for the Company for 10+ years in various capacities and are overpaid for what they do. They'll have a really difficult time landing a different job with the same pay and benefits (as will I). They all live in $600k houses and drive $40k+ vehicles. They keep asking me what I'm going to do if I get laid off??? They say they aren't sleeping because they're so stressed out. My answer: I'll get a different job that possibly pays me less. They can't fathom that people can go more than 2 weeks without a job and take a lower paying job...that's just wrong. It feels damn good to know that I can sleep at night knowing that all my hard work and sacrifices over the last 10 years are paying off....

Big houses and fast cars will not make you happier or sleep well at night. Whenever I think about inflating our lifestyle I think back to a client when I was in public accounting. He seemed to have the world - 1M house, hot wife, 3 kids, entrepreneur, 4 cars. He killed himself in his garage in one of his expensive cars. His estate was around $20M when we got it all wrapped up. Money does not buy happiness, it buys security....I remind myself of this often.

BTDretire

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Re: Financial independence feels damn good!
« Reply #1 on: June 13, 2016, 04:02:23 PM »
Good on you for preparing!
Hard to imagine the future could change.
Oh, the future is always changing.
Good on you for preparing!
                     :-)

randymarsh

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Re: Financial independence feels damn good!
« Reply #2 on: June 13, 2016, 04:18:02 PM »
Given that you aren't stressed, you're probably doing high quality work and thus, won't lose your job even though you could easily handle it!

Dicey

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Re: Financial independence feels damn good!
« Reply #3 on: June 13, 2016, 10:22:06 PM »
Is that the luxurious sound of an engineered layoff I hear in the background?

http://www.financialsamurai.com/how-to-engineer-your-layoff-make-a-small-fortune-by-saying-goodbye/


FIRE me

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Re: Financial independence feels damn good!
« Reply #4 on: June 14, 2016, 12:32:21 AM »
Everyone in my office is running around like a bunch of lunatics. It's been a long time coming but our Company just announced a restructuring and it sounds like layoffs are imminent (O&G company).

O&G? Oil and Gas?

elaine amj

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Re: Financial independence feels damn good!
« Reply #5 on: June 14, 2016, 08:05:16 AM »
ITA - a lifestyle that doesn't require a lot of $$ to fund is awesome job security. About 4 years ago, my company was going through all kinds of turmoil and drama and there were some months where there was a possibility we would lose our jobs. Other than the awfulness of being surrounded by neverending drama, I wasn't stressed about job loss. We would have been able to live comfortably on my husband's income - mine just gave us some cool extras and more savings :)

When DH was diagnosed with cancer a few months ago, I told him that if he had to quit his job, we would be fine. If I had to take a leave of absence or quit my job, we would also be fine (we have enough for a minimalistic FIRE). We both agreed it was so nice not having to stress about having slightly higher expenses, some medical bills, and the uncertainty of being able to work.

Like you said, all our saving and careful spending all our lives served us well. I ended up continuing to work throughout and DH is on sick leave with most of his pay still coming in so it's mostly been a non-issue. 

2Birds1Stone

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Re: Financial independence feels damn good!
« Reply #6 on: June 14, 2016, 08:14:00 AM »
ITA - a lifestyle that doesn't require a lot of $$ to fund is awesome job security. About 4 years ago, my company was going through all kinds of turmoil and drama and there were some months where there was a possibility we would lose our jobs. Other than the awfulness of being surrounded by neverending drama, I wasn't stressed about job loss. We would have been able to live comfortably on my husband's income - mine just gave us some cool extras and more savings :)

When DH was diagnosed with cancer a few months ago, I told him that if he had to quit his job, we would be fine. If I had to take a leave of absence or quit my job, we would also be fine (we have enough for a minimalistic FIRE). We both agreed it was so nice not having to stress about having slightly higher expenses, some medical bills, and the uncertainty of being able to work.

Like you said, all our saving and careful spending all our lives served us well. I ended up continuing to work throughout and DH is on sick leave with most of his pay still coming in so it's mostly been a non-issue.

I know these feelings all too well! I actually daydream about getting laid off and having a break from corporate life before finding another gig.

FIREdancer

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Re: Financial independence feels damn good!
« Reply #7 on: June 14, 2016, 08:23:32 AM »
I love this post.  I work at a university that is having major budget cuts and talk of layoffs.  I am not FI and am only in the early stages of accumulating, but I feel just the same as the OP.  While it would be an inconvenience for me to lose my job, I'm not worried.  I know I could find another job and using my frugal badassity, I could survive (thrive even) on a much lower income.  It's good to be in control of your finances and you life.

As the OP says, money doesn't buy happiness.  We have to choose happiness, and that's what you get with FI.

reginna

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Re: Financial independence feels damn good!
« Reply #8 on: June 14, 2016, 08:53:11 AM »
ITA - a lifestyle that doesn't require a lot of $$ to fund is awesome job security. About 4 years ago, my company was going through all kinds of turmoil and drama and there were some months where there was a possibility we would lose our jobs. Other than the awfulness of being surrounded by neverending drama, I wasn't stressed about job loss. We would have been able to live comfortably on my husband's income - mine just gave us some cool extras and more savings :)

When DH was diagnosed with cancer a few months ago, I told him that if he had to quit his job, we would be fine. If I had to take a leave of absence or quit my job, we would also be fine (we have enough for a minimalistic FIRE). We both agreed it was so nice not having to stress about having slightly higher expenses, some medical bills, and the uncertainty of being able to work.

Like you said, all our saving and careful spending all our lives served us well. I ended up continuing to work throughout and DH is on sick leave with most of his pay still coming in so it's mostly been a non-issue.

Hope your husband recovers quickly.

COlady

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Re: Financial independence feels damn good!
« Reply #9 on: June 14, 2016, 09:04:32 AM »
Is that the luxurious sound of an engineered layoff I hear in the background?

http://www.financialsamurai.com/how-to-engineer-your-layoff-make-a-small-fortune-by-saying-goodbye/

I wish! I'm currently a contractor so I won't make any fortunes unfortunately. I dropped from full time to part-time contract when my twins were born 15 months ago.

COlady

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Re: Financial independence feels damn good!
« Reply #10 on: June 14, 2016, 09:04:54 AM »
Everyone in my office is running around like a bunch of lunatics. It's been a long time coming but our Company just announced a restructuring and it sounds like layoffs are imminent (O&G company).

O&G? Oil and Gas?

Yes, oil and gas.

COlady

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Re: Financial independence feels damn good!
« Reply #11 on: June 14, 2016, 09:06:10 AM »
ITA - a lifestyle that doesn't require a lot of $$ to fund is awesome job security. About 4 years ago, my company was going through all kinds of turmoil and drama and there were some months where there was a possibility we would lose our jobs. Other than the awfulness of being surrounded by neverending drama, I wasn't stressed about job loss. We would have been able to live comfortably on my husband's income - mine just gave us some cool extras and more savings :)

When DH was diagnosed with cancer a few months ago, I told him that if he had to quit his job, we would be fine. If I had to take a leave of absence or quit my job, we would also be fine (we have enough for a minimalistic FIRE). We both agreed it was so nice not having to stress about having slightly higher expenses, some medical bills, and the uncertainty of being able to work.

Like you said, all our saving and careful spending all our lives served us well. I ended up continuing to work throughout and DH is on sick leave with most of his pay still coming in so it's mostly been a non-issue.

Sorry to hear about your husband's diagnosis. I hope it's a treatable type of cancer and that you all are able to move forward in life. I can't imagine how much stress you're under without financial stress. Good thing you have the finances under control!

COlady

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Re: Financial independence feels damn good!
« Reply #12 on: June 14, 2016, 09:07:17 AM »
ITA - a lifestyle that doesn't require a lot of $$ to fund is awesome job security. About 4 years ago, my company was going through all kinds of turmoil and drama and there were some months where there was a possibility we would lose our jobs. Other than the awfulness of being surrounded by neverending drama, I wasn't stressed about job loss. We would have been able to live comfortably on my husband's income - mine just gave us some cool extras and more savings :)

When DH was diagnosed with cancer a few months ago, I told him that if he had to quit his job, we would be fine. If I had to take a leave of absence or quit my job, we would also be fine (we have enough for a minimalistic FIRE). We both agreed it was so nice not having to stress about having slightly higher expenses, some medical bills, and the uncertainty of being able to work.

Like you said, all our saving and careful spending all our lives served us well. I ended up continuing to work throughout and DH is on sick leave with most of his pay still coming in so it's mostly been a non-issue.

I know these feelings all too well! I actually daydream about getting laid off and having a break from corporate life before finding another gig.

Ehhhh.....it wouldn't be too much of a break for me. I currently work 24 hours per week on a contract basis and have a nanny that watches my 15 month old twins while I work. It's a perfect balance right now. Getting laid off would be the opposite of a break for me :).

okits

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Re: Financial independence feels damn good!
« Reply #13 on: June 14, 2016, 01:43:02 PM »
It's like that old Warren Buffet quote: "it's only when the tide goes out that you learn who's been swimming naked."  Congrats, COlady, on being suitably attired for all conditions!  (It always surprises me when people think the good times will keep rolling forever.  They never do.  Same for bad times.)

Dicey

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Re: Financial independence feels damn good!
« Reply #14 on: June 14, 2016, 02:07:17 PM »
ITA - a lifestyle that doesn't require a lot of $$ to fund is awesome job security. About 4 years ago, my company was going through all kinds of turmoil and drama and there were some months where there was a possibility we would lose our jobs. Other than the awfulness of being surrounded by neverending drama, I wasn't stressed about job loss. We would have been able to live comfortably on my husband's income - mine just gave us some cool extras and more savings :)

When DH was diagnosed with cancer a few months ago, I told him that if he had to quit his job, we would be fine. If I had to take a leave of absence or quit my job, we would also be fine (we have enough for a minimalistic FIRE). We both agreed it was so nice not having to stress about having slightly higher expenses, some medical bills, and the uncertainty of being able to work.

Like you said, all our saving and careful spending all our lives served us well. I ended up continuing to work throughout and DH is on sick leave with most of his pay still coming in so it's mostly been a non-issue.

Sorry to hear about your husband's diagnosis. I hope it's a treatable type of cancer and that you all are able to move forward in life. I can't imagine how much stress you're under without financial stress. Good thing you have the finances under control!
+ 1k

elaine amj

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Re: Financial independence feels damn good!
« Reply #15 on: June 14, 2016, 05:41:38 PM »


When DH was diagnosed with cancer a few months ago, I told him that if he had to quit his job, we would be fine. If I had to take a leave of absence or quit my job, we would also be fine (we have enough for a minimalistic FIRE). We both agreed it was so nice not having to stress about having slightly higher expenses, some medical bills, and the uncertainty of being able to work.

Sorry to hear about your husband's diagnosis. I hope it's a treatable type of cancer and that you all are able to move forward in life. I can't imagine how much stress you're under without financial stress. Good thing you have the finances under control!

Thanks everyone :) we are religious folks and have had a lot of peace through the whole process. So mostly just joyful and thankful. It was a bit hard to juggle everything when DH got weaker - gave me a new appreciation for women who have to manage a household alone! He's regaining his strength now :)



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COlady

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Re: Financial independence feels damn good!
« Reply #16 on: June 20, 2016, 11:03:30 AM »
Everyone in my office is running around like a bunch of lunatics. It's been a long time coming but our Company just announced a restructuring and it sounds like layoffs are imminent (O&G company). Most of the people around me have worked for the Company for 10+ years in various capacities and are overpaid for what they do. They'll have a really difficult time landing a different job with the same pay and benefits (as will I). They all live in $600k houses and drive $40k+ vehicles. They keep asking me what I'm going to do if I get laid off??? They say they aren't sleeping because they're so stressed out. My answer: I'll get a different job that possibly pays me less. They can't fathom that people can go more than 2 weeks without a job and take a lower paying job...that's just wrong. It feels damn good to know that I can sleep at night knowing that all my hard work and sacrifices over the last 10 years are paying off....

Big houses and fast cars will not make you happier or sleep well at night. Whenever I think about inflating our lifestyle I think back to a client when I was in public accounting. He seemed to have the world - 1M house, hot wife, 3 kids, entrepreneur, 4 cars. He killed himself in his garage in one of his expensive cars. His estate was around $20M when we got it all wrapped up. Money does not buy happiness, it buys security....I remind myself of this often.

Update - we received confirmation today that the office we are currently in is closing. Everyone that is not in my Dept. (corp. tax) will be laid off (they haven't officially said that but it's been heard through the grapevine). At this point it's 50/50 whether or not the tax dept. will move to a new space or they will lay everyone off. Everyone is really freaking out now. They keep asking me why I'm not worried. What is worrying going to do? I have my feelers out and a couple different opportunities in the pipeline (although they'll pay maybe 75% of what my current position pay, maybe).