OK fellow Mustachians - talk me down, I'm losing my nerve...

[Bolshevik Artizan]

Brief overview of my situation: $2mm net worth, house paid off, money split between pension and savings 75% pensions 25% savings. 44% of net worth in house. 1 kid and wife will carry on working as a junior analyst in a bank.

But $#@%$# the money...

I am coming to the time of FIRE at 45 with full support of my wife. A writer with six published books (I even make a little money from it!), the plan is for me to follow my passion and care for our son, keep house, cook, grow veg, etc.

I come to this after 22 years of struggling to write in the early mornings and evenings, paying my own way to readings in foreign countries etc etc, all the while doing a day job I never liked. This year in particular my job has become "increasingly senior", I've made lots and been headhunted for three jobs, all the while having no energy for anything else, barely even our son - which is what's precipitated the move to FIRE in January 2016.

Here's the thing. My resolve is wobbling a bit. Not because of money stuff - just because I am, at the moment, so tired and burnt out from working my a$$ off that, in darker moments, I wonder if I'm too old to go after what I really want, I wonder if I'm being fair to my wife although bless her soul she supports me 100%... I sometime wonder if I shouldn't just knock on being a suit for however long then retire to a fat pension I don't really want.

Anyway, am wobbling a bit. i'm sure I'll go through with the change. I'd particularly appreciate the thoughts of those who have just recently FIREd or are coming up to it.

Thanks -

Bolshewik

[SwordGuy]

Doesn't matter how much the house is worth if you're not going to sell it.   I suspect you should remove that house value from your net worth for calculating FI.

What does matter is your expenses vs. your income, neither of which you've told us...

Would love to give better advice but...

[Bolshevik Artizan]

Thanks Swordguy. I am cheating a bit in that my wife will continue to make $100K a year. I spend nothing on myself, and our total expenses are around $40,000 pa. It's not so much a money thing as a "why am I doing this?" moment - net worth without the house would be $1.25m. The real thing is I'm wondering if there's a point to this at my age, I don't know. In the end I suppose I'm so unhappy in the job I should leave it and just see what happens. Cheers and thanks for the post - Bolshewik

[ShortInSeattle]

Why not follow your dreams for a year (or two) and check-in after that time?  Check in with the wife to make sure she is still feeling good. Check in with yourself to make sure you are happy with the changes. Adjust if necessary.

Your decision to FIRE isn't irreversible.  Schedule a check-in. 

Straddling the fence is an uncomfortable place to be. Just remember your decision doesn't have to be forever, whatever that decision is.

SIS

[BarkyardBQ]

You're not calculating the pension as part of your net worth are you? It's not an asset, it's income, but only if you're currently collecting on it.

[DaveR]

If your wife is making $100k and expenses are $40k, then you are well within your means. If your job is driving you nuts, bail. C'mon, you just said you've been given more responsibility and are being headhunted...if you FIRE and then decide 6 months in that you want to work, the opportunity will still be there.

And you might be surprised at how accommodating employers can be. Don't just quit, negotiate a 6mo leave, probably even with some benefits. If you're going to quit anyway and are valuable to the company, you have a lot of leverage.

[NV Teacher]

Stay strong.  This is what you have been working for so pull up your big boy panties and jump.

[shanghaiMMM]

$2m net worth - 44% for the house = $1.12m.

$1.12m x 4% = $44,800 pa.

You've already got enough without your wife's $100k. I suspect you knew this already.

You're in an enviable position. Stop slaving away, wasting your life with a stressful job. Go and enjoy time with your son. Get it done before we face punch you!

[scottish]

dude 45 isn't too old.   I'm fifty and I'm just about ready.   it's never to late to go after what you really want.

[Bolshevik Artizan]

Right guys - big up to you all for the support and the advice. I just spoke to the wife and we are going ahead - ironically the boss took me out for dinner tonight and told me all about his plans for me and next year. I said nothing, just went um, ah and I see ( he has no idea of what I really want in life; he's only been in post 4 months.) - so: I will resign in 4-6 weeks and will be my own man again in January.

Thank you all again for your comments -

Bolshewik

[Tom Bri]

Keep us updated! Also, post a link to your books, if you think they are anything we might be interested in.

[justajane]

You're in an enviable position. Stop slaving away, wasting your life with a stressful job. Go and enjoy time with your son. Get it done before we face punch you!

+1. Do it!

[Bolshevik Artizan]

Keep us updated! Also, post a link to your books, if you think they are anything we might be interested in.

Thanks Tom - I think my stuff is a bit esoteric at the moment for most folks - my last tome sold a whopping 335 copies so far - but we shall see how I get on next year as I have another one due in April...

[Bolshevik Artizan]

$2m net worth - 44% for the house = $1.12m.

$1.12m x 4% = $44,800 pa.

You've already got enough without your wife's $100k. I suspect you knew this already.

You're in an enviable position. Stop slaving away, wasting your life with a stressful job. Go and enjoy time with your son. Get it done before we face punch you!

Big up Shanghai MMM - it will be thus! :-)

[SwordGuy]

Keep us updated! Also, post a link to your books, if you think they are anything we might be interested in.

Thanks Tom - I think my stuff is a bit esoteric at the moment for most folks - my last tome sold a whopping 335 copies so far - but we shall see how I get on next year as I have another one due in April...

At least give us an idea about the topic...   Enquiring minds want to know!

[Bolshevik Artizan]

four books of poetry and a thriller (published under a pseudonym) which sold 750 copies in UK airports in 2 weeks and was shortlisted for a prize at a film festival. Fifth book of poetry out in April 2016 and I am writing a second thriller... thank you for your interest, SwordGuy...

[pbkmaine]

Why not call it a sabbatical and reevaluate after one year?


Sent from my iPhone using Tapatalk

[Bolshevik Artizan]

Why not call it a sabbatical and reevaluate after one year?


Sent from my iPhone using Tapatalk

great idea. That is what will happen. Thank you!

[4tify]

dude, you're rich. quit for a year. stop. drop. roll. breathe.

how awesome is it that you've done all this and managed to get your creative work out there???? and you have a rich wife who supports you!!

tell your boss thanks, pop the champagne, sleep in for 2 months, cook some stew, love your family, and in the quiet/peaceful mornings of winter your new path will emerge over coffee...

and you'll wake up, rich, thinking: "now this project sounds like an awesome plan."

i'm jealous. congrats.

[Urchina]

I quit my career ten years ago to stay home with our kids when they were born. I left on good terms and maintained my professional credentials and contacts. I called it a homemaker's sabbatical.

Nine years later, my old boss called me back and offered me a different job, part-time, with a huge amount of independence and flexibility. I took it.

The whole point of FIRE is that you can do what you want with your life. You're tired and burnt out now, so quit. Rest. Play. You can always go back to work at some other time if you want to.

The next time I quit and then go back to work, I'm gonna work in a bookstore....

[powskier]

A stressed out mind always struggles to see possibilities. 6 months into FIRE you may see better, maybe a few years in, who knows once the stress tinted glasses are removed.
Enjoy.

[Bolshevik Artizan]

you guys are amazing. Shout out to lhamo, tmitchell, powskier and urchina for the great support - thank you. It is happening; the resignation will take place in 4-6 weeks... will keep you posted! Bolshewik

[former player]

William Golding published his first novel at the age of 43 and won a Nobel, so stop worrying about your age.  You're golden.

[Apples]

I've seen other people write/blog about the first month or two after they quit, they either fill their life up with previously postponed errands, or do absolutely nothing as they decompress from the stressful working life they had led.  But then around 3-6 months, most of them find that their life balances out, their energy goes up, and they have the energy and mind space to dive in to parenting, writing, their passions, etc.  So try not to pressure yourself the first week or two off of work to dive in; I bet it will come in time.  Good luck!

[FrugalFan]

tell your boss thanks, pop the champagne, sleep in for 2 months, cook some stew, love your family, and in the quiet/peaceful mornings of winter your new path will emerge over coffee...

and you'll wake up, rich, thinking: "now this project sounds like an awesome plan."

Love this!

[BTDretire]

dude 45 isn't too old.   I'm fifty and I'm just about ready.   it's never to late to go after what you really want.

 Too old?? Remember Ray Crock and McDonolds!
 Go for it, if you've been headhunted you obviously have some worth in the job market,
meaning if retirement doesn't suit you, you can go back to work. (but why?)
  I would also recommend that you start an exercise program immediately. When you retire
it will fill some of your time and you will feel better feel doing it.
 I started swimming 4 days a week in April, it has had a good effect on the my energy level
and how I feel. I have also seen a drop in my blood preasure, 131/81 to 122/73. Ya!

[Rollin]

Remember when you were excited about things?  When you had enthusiasm and energy and the World felt open to you?  Guess what?  It is all still there and it could be that your current "situation" is watering all that down - not allowing you to see clearly.  It doesn't matter what age you are, it is still there under all that confusion.

Don't be afraid to take the leap!

[Bolshevik Artizan]

Remember when you were excited about things?  When you had enthusiasm and energy and the World felt open to you?  Guess what?  It is all still there and it could be that your current "situation" is watering all that down - not allowing you to see clearly.  It doesn't matter what age you are, it is still there under all that confusion.

Don't be afraid to take the leap!

more great comments from Rollin and everyone else. What's so great about this community is that I think we all understand WHY the wrong kind of work sucks - it leeches the life out of you, kills thought, takes your energy, and any financial recompense is scant in comparison...

Thank you everyoone, again - most recently Rollin, Qmavam, Apples

[Rosy]

You are golden - no matter which way you look at it.

Take a break and then re-evaluate - you may never go back and that is OK. You will probably always write - that's what most writers do, but hey, if you don't, that is fine too. You've checked with the wife, she's on board and there is enough money to go around, you are 45 and are having a serious look at your writing career - man you are so lucky:).

I've had three distinct careers in my life and I loved them all. At 50 I went back to college for another degree and then opened my own business, loved it, had a blast and made decent money.
To be honest, I would have made it a full blown business, but I could tell I wasn't (health and energywise) what I once was, so I resorted to consulting and still made really good money.
The only reason I stopped is because I encountered health issues from a latent immune disease and I had no choice, but to quit. I have no regrets:)

As a writer - the sky is the limit, so take a break and give those creative juices a chance to flow, maybe all you need is a time out. If you decide you are over it - well then, re-assess what you will do next - no harm done.
You will be a much better husband and father when you are happy - your wife is a smart woman to recognize that.

[Bolshevik Artizan]

You are golden - no matter which way you look at it.

Take a break and then re-evaluate - you may never go back and that is OK. You will probably always write - that's what most writers do, but hey, if you don't, that is fine too. You've checked with the wife, she's on board and there is enough money to go around, you are 45 and are having a serious look at your writing career - man you are so lucky:).

I've had three distinct careers in my life and I loved them all. At 50 I went back to college for another degree and then opened my own business, loved it, had a blast and made decent money.
To be honest, I would have made it a full blown business, but I could tell I wasn't (health and energywise) what I once was, so I resorted to consulting and still made really good money.
The only reason I stopped is because I encountered health issues from a latent immune disease and I had no choice, but to quit. I have no regrets:)

As a writer - the sky is the limit, so take a break and give those creative juices a chance to flow, maybe all you need is a time out. If you decide you are over it - well then, re-assess what you will do next - no harm done.
You will be a much better husband and father when you are happy - your wife is a smart woman to recognize that.

Bless you Rosy. What a wonderful comment. I wish you back the peace and happiness you have wished me. Bolshewik

[Rollin]

Remember when you were excited about things?  When you had enthusiasm and energy and the World felt open to you?  Guess what?  It is all still there and it could be that your current "situation" is watering all that down - not allowing you to see clearly.  It doesn't matter what age you are, it is still there under all that confusion.

Don't be afraid to take the leap!

more great comments from Rollin and everyone else. What's so great about this community is that I think we all understand WHY the wrong kind of work sucks - it leeches the life out of you, kills thought, takes your energy, and any financial recompense is scant in comparison...

Thank you everyoone, again - most recently Rollin, Qmavam, Apples

You are certainly welcome.  I read your original post and a math discussion didn't fit as an answer.

[comp@26]

Brief overview of my situation: $2mm net worth, house paid off, money split between pension and savings 75% pensions 25% savings. 44% of net worth in house. 1 kid and wife will carry on working as a junior analyst in a bank.

But $#@%$# the money...

I am coming to the time of FIRE at 45 with full support of my wife. A writer with six published books (I even make a little money from it!), the plan is for me to follow my passion and care for our son, keep house, cook, grow veg, etc.

I come to this after 22 years of struggling to write in the early mornings and evenings, paying my own way to readings in foreign countries etc etc, all the while doing a day job I never liked. This year in particular my job has become "increasingly senior", I've made lots and been headhunted for three jobs, all the while having no energy for anything else, barely even our son - which is what's precipitated the move to FIRE in January 2016.

Here's the thing. My resolve is wobbling a bit. Not because of money stuff - just because I am, at the moment, so tired and burnt out from working my a$$ off that, in darker moments, I wonder if I'm too old to go after what I really want, I wonder if I'm being fair to my wife although bless her soul she supports me 100%... I sometime wonder if I shouldn't just knock on being a suit for however long then retire to a fat pension I don't really want.

Anyway, am wobbling a bit. i'm sure I'll go through with the change. I'd particularly appreciate the thoughts of those who have just recently FIREd or are coming up to it.

Thanks -

Bolshewik

Sam Walton started Walmart at 44. Go for it!

[1967mama]

Posting to follow!

[meadow lark]

I look forward to hearing how you feel when you leave the job.  I made a job change recently, and it was so hard.  I felt so much angst, stress, and torture over leaving it.  Now I can't imagine ever going back!  For some of us this kind of change is painful.  Divorce like.  But as burned out as you are I think you will be so happy in a few months!

[RetiredAt63]

Dave Duncan was a petroleum geologist before he retired - he is a lot better known for his amazing Fantasy books (series like "The Seventh Sword”, “A Man of His Word” and “A Handful of Men”).  Go for it!

[WolfpackFan]

At the risk of sounding like a turd, if I were you I wouldn't even put in my 2 weeks notice.  I'd go in to the office tomorrow and hand them my laptop and take my belongings home with me and never look back.

Congrats to you, bud!

[Bolshevik Artizan]

At the risk of sounding like a turd, if I were you I wouldn't even put in my 2 weeks notice.  I'd go in to the office tomorrow and hand them my laptop and take my belongings home with me and never look back.

Congrats to you, bud!

Thanks Wolfpack - would love to, but I'm on a two month notice period and our lease runs out in December, so it's a timing thing. Totally know what you mean, though, sir - hear you loud and clear. Bolshewik

[Bolshevik Artizan]

I look forward to hearing how you feel when you leave the job.  I made a job change recently, and it was so hard.  I felt so much angst, stress, and torture over leaving it.  Now I can't imagine ever going back!  For some of us this kind of change is painful.  Divorce like.  But as burned out as you are I think you will be so happy in a few months!

Thanks MeadowLark - lovely name by the way - yes, it's not easy when you have been inured (should that be indentured :-)) to it over more than 20 years... thank you for your kindness. Today I was actually able to write 500 words for the first time since February. Bolshewik

[Bolshevik Artizan]

Dave Duncan was a petroleum geologist before he retired - he is a lot better known for his amazing Fantasy books (series like "The Seventh Sword”, “A Man of His Word” and “A Handful of Men”).  Go for it!

Thanks to you Retiredat63 - I shall look up Mr. Duncan and his work! Bolshewik

[hopetogetfi]

four books of poetry and a thriller (published under a pseudonym) which sold 750 copies in UK airports in 2 weeks and was shortlisted for a prize at a film festival. Fifth book of poetry out in April 2016 and I am writing a second thriller... thank you for your interest, SwordGuy...

Hi, I was wondering how did you get your books sold at airports in UK? Do you live in UK? Also, is English your native language?
Becoming an author is a dream of mine too. This is what I would like to do when I retire. The main two problems in my case: lack of time (young children and a full time job) and my English is not sophisticated enough for writing fiction.

[Tetsuya Hondo]

Sell that house and move to some scholarly/bohemian/college/literary town where $250k buys an awesome house and you can be plugged in with other creative types. With the pocket change leftover from the sale your wife can quit her job too.

[Bolshevik Artizan]

four books of poetry and a thriller (published under a pseudonym) which sold 750 copies in UK airports in 2 weeks and was shortlisted for a prize at a film festival. Fifth book of poetry out in April 2016 and I am writing a second thriller... thank you for your interest, SwordGuy...

Hi, I was wondering how did you get your books sold at airports in UK? Do you live in UK? Also, is English your native language?
Becoming an author is a dream of mine too. This is what I would like to do when I retire. The main two problems in my case: lack of time (young children and a full time job) and my English is not sophisticated enough for writing fiction.

Hi - English is my first language and my publishers handle all the distribution and marketing; I just write the books!

[hopetogetfi]

four books of poetry and a thriller (published under a pseudonym) which sold 750 copies in UK airports in 2 weeks and was shortlisted for a prize at a film festival. Fifth book of poetry out in April 2016 and I am writing a second thriller... thank you for your interest, SwordGuy...

Hi, I was wondering how did you get your books sold at airports in UK? Do you live in UK? Also, is English your native language?
Becoming an author is a dream of mine too. This is what I would like to do when I retire. The main two problems in my case: lack of time (young children and a full time job) and my English is not sophisticated enough for writing fiction.

Hi - English is my first language and my publishers handle all the distribution and marketing; I just write the books!

Thanks for your response!

[scottish]

So how'd it go?   Was your resignation accepted gracefully?

[Kiwi Mustache]

On your death bed, when your grandchild asks you for life's lesson, will you tell him/her that the best decision you ever made was to continue working a corporate job you didn't like because you die with 5 million dollars, not two million dollars?

Or will you tell him/her the best decision you ever made was to become an author full time because you worked hard enough prior to this point, got yourself in a strong position financially and pursued what you had been dreaming of for several years.

If you were that little boy and your grandfather was in the same position, what would you want him to have done? What would have made for a more interesting granddad, a more full life?

To me, the answer seems obvious. If you are being head hunted by other companies, in two years time if you decide being a full time author isn't what you want and you would rather go back to your corporate job, people will still hire you, plus all they will ask you about is how did you get to retire to be a full time author?

[Bolshevik Artizan]

So how'd it go?   Was your resignation accepted gracefully?

Sorry fellow Scotsman - I have been so busy since FIRE I didn't see this response until now. They were, frankly, the worst firm I have ever come across when it came to accepting my resignation. I didn't get a leaving bash, present, card, whatever, and well... I'll leave it there.

The months since I FIREd have been unexpectedly tough and busy, but I feel I am LIVING again: not punching a clock and staring out the window...

Thanks for your interest -

B McA

[Bolshevik Artizan]

On your death bed, when your grandchild asks you for life's lesson, will you tell him/her that the best decision you ever made was to continue working a corporate job you didn't like because you die with 5 million dollars, not two million dollars?

Or will you tell him/her the best decision you ever made was to become an author full time because you worked hard enough prior to this point, got yourself in a strong position financially and pursued what you had been dreaming of for several years.

If you were that little boy and your grandfather was in the same position, what would you want him to have done? What would have made for a more interesting granddad, a more full life?

To me, the answer seems obvious. If you are being head hunted by other companies, in two years time if you decide being a full time author isn't what you want and you would rather go back to your corporate job, people will still hire you, plus all they will ask you about is how did you get to retire to be a full time author?

Excellent points. By the way, I've now made the change! Three months in, OK so far. Much less writing time than anticipated though as I am also caring for our son three days a week, which is a total dream in so many ways by itself.

BA

[Rollin]

I like the Post FIRE subforum, but I notice it isn't used very often. Just like Bolshevik, I suspect they are all busier than expected after FIRE!

[PARedbeard]

Congrats BA! I hope you get more writing time as your FIRE burns.

[Dicey]

Congratulations and thanks for the update!