Hi all, I have been struggling with my job currently, part of it is that we are FI, but I keep holding off letting go. We are both 35 years old with a 3 and 5 yr old in Canada. I'll throw my stats out here to give a current picture.
-Current index investments : 670k (30%bonds, 70% stock indexes)
-Commuted value of pension after tax (if I quit today) : 500k (some locked till I am older, no biggie).
-House equity conservative 600k, could severe part of it for more $$ if necessary
-Mortgage :160k at 3%
-Rental income variable 15-25k / yr, possibility for more - just requires time/effort on my part, which I don't have while working.
-Wife works and will the next 5 years at least, her pension value is currently around 350k, will be 4-500k when she possibly quits in 5-6 yrs. Her income (~84k/yr after tax) also fully supports us, we have already done this with multiple sabbaticals/parental leaves in the past few years.
-expenses for the last 5 years are 55k/yr average (this includes our rental expenses) and can reasonably drop it to 45k/yr if we had to with little pain.
-As a side note I do not add the mortgage and daycare expenses to our recorded expenses anymore as these would be mostly eliminated if I quit, our yearly expenses did include them up until 6 months ago when I stopped adding them. Even if we still had these expenses my wifes income could still cover it.
Basically I am just reaching out for advice/hugs/face punches :) Not a lot of people around me I can talk to about this besides my wife, who pretty much just wants me to quit. I know we are financially good, just hard to make the jump. I have a very sought after qualification, so even if I quit I could have high paying contract jobs at any time for extra cash. In reality though I would rather just do things I love; volunteer, house renovations, family time, etc. One big thing holding me back is the 'what if' thought of quitting right before a large market correction (especially after investing my pension $).
We also have a very flexible mindset and would not be phased too much if a financial situation required massive downsizing/relocation.
Hopefully this describes everything and you can give me your opinion on our situation, thanks in advance!