Anyone give a 15 year notice?

[Gone Fishing]

Several have mentioned their bosses are and have been aware of their ER plans many years in advance.

I can only imagine how that conversation might go.  Maybe something like this:

www.youtube.com/watch?v=lrOPZ1p0GEM

[Davids]

I am just curious through how a state farm agent will help exactly. My guess is trying to sell whole life insurance and that is a big no no in my book.

[dunhamjr]

nope.

but one day my boss and i were talking and he mentioned his own eventual retirement, so i asked when he was thinking... 12-13 years from now, so about 62-65 (i am not 100% how old my boss is).

thing is that i also mentioned i was trying to shoot for 12-13 yrs as well. 
funny to me because my boss makes a ton more income than i do (manager vs sr. director) and he is also about 10-12 yrs older than i am. :D

[sheepstache]

Holy shit. This is a genius way to get cake that I totally had not thought of. And I am pretty good at thinking up ways to get cake.

[Bikesy]

Holy shit. This is a genius way to get cake that I totally had not thought of. And I am pretty good at thinking up ways to get cake.

Pure Brilliance.

[frugalnacho]

I talk openly about it.  My bosses are about 15-20 years older than me so I figure it's not like they are going to care either way. They will likely have sold the company and/or retired by the time my plans come to fruition anyway (probably 10-15 years for me).

[fetzer85]

Seems a bit arrogant to me.

[Numbers Man]

She probably realized that getting her insurance shopped by an independent broker would save her a shitload of money to invest instead of paying State Farm.

[sloof70]

Ha, 15-year notice.

I've told my boss that I'm actively pursuing alternative options. I hate the sales industry, he knows it, frankly is surprised I've been around so long (about 9 years now). Currently applying to be a union electrician in two locals, but will try other options if that doesn't pan out. He's excited to see me do something more fulfilling, and is fully aware that I may be around another couple months or years, depending on when I can find something that suits me.

[Schaefer Light]

Seems a bit arrogant to me.

Plus, I don't want to bring any bad karma on myself.  I can retire in about 10 years if things go according to plan, but if I get laid off and am out of work for a while then my plan goes all to hell.

[Le Poisson]

Does anyone worry about bringing up ER and having it backslap you on succession planning etc.?

The guy in the cube next to me inherited nicely when his parents died, and *could have been* financially independent. Instead (at 50) he bought a cottage and a bigger house, and is now carrying a mortgage. He literally chose a mortgage and a half hour longer commute over retirement.

Before the stupid hit, bosses were all worried about replacing him, and didn't want to promote him for fear he would be gone soon. Now that he's back in debt, everyone breathed a sigh of relief and things returned to normal.

As I build a stash, I'll keep quiet around the office, simply because promotions and raises are investments by the employer, and they may not invest the same way if they think someone is plotting an escape.

[ender]

As I build a stash, I'll keep quiet around the office, simply because promotions and raises are investments by the employer, and they may not invest the same way if they think someone is plotting an escape.

+1

[Workinghard]

That's true but if the employee is valuable, and they want to keep that employee, the extra compensation might make the difference. My brother keeps working due to his compensation package. I'm not sure when I'll pull the plug. I made 83k with overtime. Never dreamed I could make that much and it makes it harder to quit. Now if it was 50k the tug would be in the other direction especially with seeing investments go up 10-30k a month. Course they also go down!

As I build a stash, I'll keep quiet around the office, simply because promotions and raises are investments by the employer, and they may not invest the same way if they think someone is plotting an escape.

+1

[Indexer]

Thats good!  I like it.  I would like it even better if it was a Vanguard or Schwab or CFP board advertisement.

I wouldn't really want an insurance agent handling my retirement.  Those that are licensed normally just sells lots of variable annuities or super expensive mutual funds.  Those that aren't licensed think that whole life policies are proper retirement planning investments......


On a realistic note I wouldn't put in an advanced notice just because it might cost you a promotion. 

[YarnStache]

One of the big reasons that I created an account here is so that I could get some if yall's perspective on this. I just moved to a new area partly so that I could start growing my stache (money, not yarn!) in earnest.

I'm 26, and I'm projecting to have enough to retire in about five years. I just started my new job here about a month ago, and my boss already wants me to draw up a career outlook.

I believe that being honest and forthright is the best way to go, but I'm not sure how to best broach and explain what I'm trying to do. Especially since I am not only so young, but also so new to the company, I'm very unsure if how this will be received.

[PencilThinStash]

One of the big reasons that I created an account here is so that I could get some if yall's perspective on this. I just moved to a new area partly so that I could start growing my stache (money, not yarn!) in earnest.

I'm 26, and I'm projecting to have enough to retire in about five years. I just started my new job here about a month ago, and my boss already wants me to draw up a career outlook.

I believe that being honest and forthright is the best way to go, but I'm not sure how to best broach and explain what I'm trying to do. Especially since I am not only so young, but also so new to the company, I'm very unsure if how this will be received.

Personally, I'd hold back until you've been there a little longer, especially since the five year timeline is so short. I've got a much less intense "Retire by 45" plan, and there was definitely a feeling of "Oh, you're so young and naive" when I started to open up to coworkers about it. The ones who do take you seriously either think you lack ambition, or they seem to get a little uncomfortable around the topic. Particularly if they're older and recognize that you're doing something beyond their reach.

For now, just play the game and pretend to be a good little worker bee.

[YarnStache]

Something that I forgot to mention in my last post is that she wants to have a five year outlook in my write up. As much as I'd like to keep my head down, I feel like my hand is being forced. I have a clear vision, so I feel like waffling on the issue would be disingenuous.

[Gone Fishing]

Something that I forgot to mention in my last post is that she wants to have a five year outlook in my write up. As much as I'd like to keep my head down, I feel like my hand is being forced. I have a clear vision, so I feel like waffling on the issue would be disingenuous.

Play the game.  Tell her what she wants to hear.  They are "investing" in you in their minds, the last thing they want to hear (no matter how true it might be) is that you are bailing in 5 years.  If your boss promoted you with that knowledge, she would face scrutiny from her boss for making a "bad" investment.  Plausible deniability is what she needs.

[frugalnacho]

Something that I forgot to mention in my last post is that she wants to have a five year outlook in my write up. As much as I'd like to keep my head down, I feel like my hand is being forced. I have a clear vision, so I feel like waffling on the issue would be disingenuous.

Play the game.  Tell her what she wants to hear.  They are "investing" in you in their minds, the last thing they want to hear (no matter how true it might be) is that you are bailing in 5 years.  If your boss promoted you with that knowledge, she would face scrutiny from her boss for making a "bad" investment.  Plausible deniability is what she needs.

Plus you can't possibly know the future that well.  You plan to be out in 5 years, but there are so many things that could happen to derail or extend that time frame.  If I were you I would certainly plan for a longer time frame and career, assuming things will not be totally ideal.  If after 5 years you have enough to retire, then you can just retire and don't need to explain yourself to anyone.  If however you are not comfortable retiring at that point you can keep grinding away at the career until you are.  It's nice to leave yourself some outs, and probably don't want to pigeon hole your entire career/life into the "retire in 5 years" mantra.  I don't see any reason to let them in on your super optimistic view and plan of your future. 

[YarnStache]

Thanks for the input, guys. As much as I hate playing games, I think you're right.

[Le Poisson]

Another option is to say that your long term plan is to put yourself in a position to consult at retirement.

You just don't say when your retirement will be. This has the beauty of opening the door to continued income on your own terms once you are FI.

[JLee]

Thanks for the input, guys. As much as I hate playing games, I think you're right.

Assume the stock market is terrible for the next five years and you wouldn't be able to retire for seven years. What would your five year career plan be then? I'd go with that. :)

[cacaoheart]

A friend recently invited many of us to his retirement party on facebook, scheduled 15 years from now ;-)

[dude]

I laughed when I first saw that commercial! Yeah, it's trying to sell you a bad product, but I like the commercial nonetheless!

[HappyMargo]

Only one really close coworker/ friend knows of my 3 year plan at this point. She's on a 5 year plan herself so it's sort of an inside joke between us.  It's nice having someone IRL who "gets it" and can chat about our progress.

OTOH retirement dates came up in discussion in the break room once, I threw out an age I was "possibly thinking about" retiring. The reaction wasn't pretty! 

Responses ranged from "I have to work till 67 (or 70)" or "I'll be working till I die."  This from people raiding their 401k for trips to Disney or buying giant SUVs to commute an hour.
Also heard "must be nice...married a sugar daddy, huh?"  Um, nope, my DH is a spendy pants, but he's coming around. I'm just frugal & enjoy free or cheap stuff like biking, hiking with my dog, sewing clothes, jogging, trying to cook new recipes at home, etc.

So I learned my lesson & don't really broadcast my FIRE plan at work. Especially to the bosses.  I'll give plenty of notice, but not 3 years in advance!

[retired?]

better question....how many people here have been with the same employer for 15 years?  That would be twice my longest.

[Tabaxus]

It seems absolutely insane to me to forecast this. 

[Bateaux]

I gave my 3 year notice a few weeks ago.

[kpd905]

I don't see any advantage to doing this.  As others have said, you might get passed up for a raise if they know you aren't sticking around for long.

[BlueHouse]

. Now that he's back in debt, everyone breathed a sigh of relief and things returned to normal.

When you see someone carrying a certain level of debt (more than one years salary) and a certain type of debt (house, car, hobby), then they become predictable.  That's good for business managers.