Author Topic: Looking forward to my sabbatical  (Read 3185 times)

Iron Mike Sharpe

  • Bristles
  • ***
  • Posts: 396
Looking forward to my sabbatical
« on: September 22, 2017, 09:39:03 AM »
Have not enjoyed my job for quite some time.  Been doing the same job for 11 years (business analyst on a software development team).  The current project I had been working on has been stressful and full of problems that will become headaches down the road.  The final straw for me came earlier this summer when I sat through some exploratory meetings for the next slate of projects for next year.  After sitting through those meetings I realized I couldn't even visualize myself working on those next projects.

In early August I submitted my resignation; I am working until the end of September.  Shocked my team leader, my boss, and my teammates.  I had not been sleeping well.  Had not been eating well and had lapsed on exercising.  As a result I have put on some pounds this year.  I am going to take a few months off to drop some weight via eating clean and working out. Hopefully make some serious lifestyle changes that will stick once I start working again.  Also have a bunch of projects around the house I have been putting off.

I have a hobby that generates income (I play poker).  I actually enjoy it more than I do regular jobs.  I am 95% sure I can make enough during my sabbatical to meet my expense and tax obligations.  If for some reason my estimates are off, my emergency fund + my poker bankroll are enough to fund 2.5 - 3 years of living expenses depending on if I want to make lifestyle cuts or not. 

This will also be a good test to see if I would enjoy playing poker full time or not.  My original goal was to retire in 10.5 years when my house is paid off.  I was on track to have around $1 million in retirement funds then too.  I had started to think maybe I could switch to playing poker full time 5 years down the road.  Once I get a new job, work real hard to pay my mortgage off early and then just play poker the rest of my life.  Right now I play cards 16 hours a week.  Because I am not playing for money I need, it is not stressful when I have bad streaks.  This time off will let me know how I react to playing 40 hours a week and how I will react to losing streaks. 

No matter what, these next few months off will do good in letting me decompress and figuring out what my next step in life will be.


Current net worth (not including home equity) is around $330,000.

mastrr

  • Bristles
  • ***
  • Posts: 350
Re: Looking forward to my sabbatical
« Reply #1 on: September 24, 2017, 04:29:54 PM »
sounds like a +EV life decision

yellow_heel

  • 5 O'Clock Shadow
  • *
  • Posts: 7
Re: Looking forward to my sabbatical
« Reply #2 on: September 25, 2017, 04:51:18 PM »
Good for you Mike. I am happy for you!

I am planning the same thing too and trying to figure out the health insurance part of the equation.

What are you planning to do for your health insurance?

Good luck!

Iron Mike Sharpe

  • Bristles
  • ***
  • Posts: 396
Re: Looking forward to my sabbatical
« Reply #3 on: September 26, 2017, 07:10:28 AM »
Since I am leaving voluntarily I will have access to COBRA for 18 months.  I intend to get another job hopefully within 6 months. 

Scortius

  • Bristles
  • ***
  • Posts: 475
Re: Looking forward to my sabbatical
« Reply #4 on: September 26, 2017, 09:43:13 AM »
Best of luck chasing those Sklansky bucks!

yellow_heel

  • 5 O'Clock Shadow
  • *
  • Posts: 7
Re: Looking forward to my sabbatical
« Reply #5 on: September 26, 2017, 05:59:15 PM »
Ok. I looked into COBRA. I found this info:

Quote
While many employers must extend health insurance coverage to all laid-off employees for 18 months - thanks to a federal law known as COBRA - you must pay 100 percent of the policy premium. Chances are good you can get a less expensive policy by doing your own shopping."

Not sure about your premium but I would double check other options just in case.

I checked what my employer was paying for medical each month and it was $887/month + my portion was $118/month. ACA will probably be a cheaper option for me if I can keep my income low enough for the "gold plated" silver plan :)

Just thought I'd throw it out there. Keep us posted on your sabbatical!

Iron Mike Sharpe

  • Bristles
  • ***
  • Posts: 396
Re: Looking forward to my sabbatical
« Reply #6 on: September 27, 2017, 08:33:06 AM »
Thanks!  I will check out the ACA options.