I've been lurking on the forums for years, never posted, but I am joining the 2020 FIRE team....1/31/20 will be my last day. I put in my notice for the end of October, but negotiated a retention bonus to stay through January.
I'm 52 and just celebrated my 30th anniversary with my company and although I was going to work until I was 55 for more buffer, I have run the numbers and I just can't do this for another three years. I am paid very well and have the job under control, but it hasn't brought me joy or real fulfillment for the last few years and it's time to move on.
I wish I could say I'm completely confident about this all of the time, the emotional swings have caught me by surprise. Most of the time I know I am making the right decision and I'm excited, but I do have doubts that creep in, usually around 4am....I make good money, am I an idiot from walking away from this? What if my calculations are off and I don't have enough money? Why can't I just gut it out for another 3 years, it's not that bad? What if the recession wipes everything out? Who quits their job at 52? What if ACA is cancelled what will I do for insurance? What if I'm bored and lonely? I don't have a partner maybe I need a bigger buffer?
During my 4am sessions I remind myself that my house is paid for, my average annual spend for the last 5 years is less than a 3% withdrawal rate, adding the most outrageous COBRA/health insurance scenarios I'm below 3.5%, I have over three years of annual spend outside of the stock market so I can ride out any dips, I am smart and resourceful and I can overcome any obstacles that come my way, what I can't overcome is time and do I want to spend three more years doing this?
I read you should retire with two hobbies - one that makes money and one that keeps you fit. I've had an eBay side hustle for years that I enjoy, I've let it wind down some over the last couple of years, but looking forward to ramping it back up. Working on the hobby to keep me fit - knitting just doesn't seem to provide the kind of cardio I need.
That was a bit cathartic to type out all of that - It's a leap of faith and I'm looking forward to sharing that leap with all of you.