Author Topic: A different OMY (One More Year) scenario  (Read 7949 times)

Cheddar Stacker

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A different OMY (One More Year) scenario
« on: July 11, 2014, 11:07:48 AM »
OMY - One More Year. Most of us are familiar with the concept right? I think I have enough to FIRE, but in OMY I know I will. Then OMY passes, and you go through the same process. Hopefully you won't get stuck in a perpetual OMY scenario.

Well, that's not exactly what I'm writing about. I currently suffer from a few micro level OMY challenges and I'm wondering if anyone else has similar issues, or any insight to kick me in the ass and get me off the perpetual treadmill here. First let me warn your frugal eyes, none of these are mustachian level expenses, and that's my biggest problem here.

Example 1: Cell phone contract - We purchased our first smart phones just over a year ago, about 3 months before I stumbled onto MMM's website. Didn't get the newest most expensive models but we went through T-Mobile and are paying $X/month for 2 years to buy the phones (no contract, but have to pay off phones if we leave). I went through an analysis last fall on whether to switch to Republic Wireless and long story short my conclusion was ... OMY.

Example 2: Cable TV contract - First, let me give myself the obligatory FACEPUNCH. Now that we got that out of the way, we switched providers the same time as cell phones above BMMM (Before MMM). I didn't even look into a cancellation fee yet, I just said OMY and I'll look into it. Also, I'd be ok letting it go but I think it might cause WWIII in my household so I haven't even mentioned it to the family yet. This one may never change, but if it keeps the peace in the family (keeps them happy) it's a small price to pay I guess. I'm torn here, because we all say spend on what you want. I don't want it anymore, but we are a family and I don't want to make myself happy at their expense.

Example 3: Healthcare - I have coverage through work, and I cover the entire family through that policy. Premiums ~ $10K/year. Deductibles - $2,500/person $5,000/family. I loathe this expense and I want to get a HDHP with an HSA. I just priced this through an agent and on the ACA website and strongly considered it for next enrollment. However, 10 minutes ago I reached the same frustrating conclusion...OMY. We are done having kids (hopefully) and in OMY we'll finish the last round of kiddie immunizations. I think switching for 2016 will be my best play in the long run.

So what about you? Any micro OMY situations eating at you?

Any facepunches or ideas for me?

begood

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Re: A different OMY (One More Year) scenario
« Reply #1 on: July 11, 2014, 11:34:52 AM »
Not much advice, Cheddar Stacker, but I do empathize!

I think this is a key line: "I'm torn here, because we all say spend on what you want. I don't want it anymore, but we are a family and I don't want to make myself happy at their expense."

We made minor adjustments in cell phone and satellite TV plans - lowered the number of shared minutes on our cells and dropped to a lower tier of channels for TV - a savings of $35/mo. Not a lot, but I figure it's better than not doing it.

That truly was "low-hanging fruit" - we still have plenty of minutes, and the only channel we're missing is BBC America (I have a young Whovian in the house!). So maybe you could do some tweaks that wouldn't upset the fam and save a little money in the process?

yandz

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Re: A different OMY (One More Year) scenario
« Reply #2 on: July 11, 2014, 11:48:27 AM »
Please tell me that 10k a year in health insurance premiums is a typo.  If not, you need to get off your OMY butt immediately. Even buying a HDHP outside your employer and paying immunizations out of pocket will save you money.

edit: typo. probably still left some.

boarder42

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Re: A different OMY (One More Year) scenario
« Reply #3 on: July 11, 2014, 12:01:51 PM »
stinks finding this site just after doing things like that.  i found it 2 years too late.  i already owned a boat and have become embedded in a wakeboarding lifestyle.  i make it as affordable as possible but find myself thinking... is wakeboarding really this important to me still.  i am building a bad right knee... i could sell my boat for a sizeable profit 30-40% and move on to some new hobby ... i think i'm tmy or fmy years away from that decision though.  at which time my boat will likely be worth what i paid.

Cheddar Stacker

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Re: A different OMY (One More Year) scenario
« Reply #4 on: July 11, 2014, 12:39:23 PM »
Please tell me that 10k a year in health insurance premiums is a typo.  If not, you need to get off your OMY butt immediately. Even buying a HDHP outside your employer and paying immunizations out of pocket will save you money.

edit: typo. probably still left some.

Nope, not at all. Two adults in their 30's and two kids under 5, in Missouri. The best option I found for us on the ACA website was $522/month ($6,264/year) and it was an HSA so much more costly out of pocket. Looked at our total costs paid by health insurance company and us over the last 3 years, and I figured our average is around $4K/year in costs. So if we switched and stayed around the same costs it would be a wash. Once kids finish their frequent well baby checkups and immunizations I think we'll be able to easily shave $2k/yr off out of pocket on average.

My wife has no coverage through work. I have coverage at work, but it's a small employer so we likely don't get the best rates around. I'm also a part owner so my compensation structure is unusual. Essentially anything I spend on healthcare reduces my wages $ for $, so my "employer" doesn't really cover any of it.

What are your annual premiums yandz? Married, kids, location, work subsidized at all??

boarder42

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Re: A different OMY (One More Year) scenario
« Reply #5 on: July 11, 2014, 12:42:37 PM »
my wife and i pay 60 pretax a month ~ 720 a year for medical and dental obviously subsidized by her employer.  take out our tax rate and its really ~520 a year.

and i'm in Missouri too.
« Last Edit: July 11, 2014, 01:36:38 PM by boarder42 »

Gin1984

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Re: A different OMY (One More Year) scenario
« Reply #6 on: July 11, 2014, 12:50:46 PM »
Please tell me that 10k a year in health insurance premiums is a typo.  If not, you need to get off your OMY butt immediately. Even buying a HDHP outside your employer and paying immunizations out of pocket will save you money.

edit: typo. probably still left some.

Nope, not at all. Two adults in their 30's and two kids under 5, in Missouri. The best option I found for us on the ACA website was $522/month ($6,264/year) and it was an HSA so much more costly out of pocket. Looked at our total costs paid by health insurance company and us over the last 3 years, and I figured our average is around $4K/year in costs. So if we switched and stayed around the same costs it would be a wash. Once kids finish their frequent well baby checkups and immunizations I think we'll be able to easily shave $2k/yr off out of pocket on average.

My wife has no coverage through work. I have coverage at work, but it's a small employer so we likely don't get the best rates around. I'm also a part owner so my compensation structure is unusual. Essentially anything I spend on healthcare reduces my wages $ for $, so my "employer" doesn't really cover any of it.

What are your annual premiums yandz? Married, kids, location, work subsidized at all??
Not Yandz, but in NY my total for three people is $575/month for a family plan.  I am shocked that Missouri is so much more expensive.

DoubleDown

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Re: A different OMY (One More Year) scenario
« Reply #7 on: July 11, 2014, 01:12:26 PM »
I think the thing that ultimately got me over the OMY hump was not viewing my decision to quit as the FINAL choice, never to be undone. If, instead, you just look at quitting as the current choice that makes sense for your life right now, based on already reaching a comfortable FI amount, then you can leave knowing that you can always return to work. Even if you can't go back into your exact job with your previous employer, you can always do SOMETHING to earn some income. Who knows, you might want to one day return to some kind of work or do some "side gig" to earn some money here and there.

I had/have to get past some serious golden handcuffs if I stayed OMY: high earnings, a much-increased pension, inexpensive healthcare for life, etc., if only I stayed a few more years. So, as a bit of a middle road and insurance policy, I took a sabbatical/one year leave of absence (unpaid), but with my likely intention not to return unless I found early retirement less than I dreamed, or if there was a major market downturn (bad sequencing). My employer holds my job open for me for one year. So far, ER has been everything I dreamed and more.

That little bit of a safety net gave me the confidence to leave and "see how it goes" for one year, instead of staying at a job I was getting sick of for OMY. But really, it's not the guarantee of returning to a job that matters: it's frame of mind that you can always choose what makes sense for you later, even if that's returning to work.

So even if you can't arrange an unpaid leave of absence, you can just tell yourself that you'll quit for a year or three and see how it goes. If you find that you're spending too much, or markets have tanked, or you're unhappy with retired life, you can make some adjustments or pursue some passion of yours to make some $. And you don't need to earn a ton of money once you're FI -- you just need a little earnings to make up whatever shortfall you've encountered.

One thing I discovered after quitting is that I really enjoyed making wood furniture, and it's easy. After comparing some things I've built to the stuff being sold in high-end stores like Pottery Barn and Restoration Hardware, I feel I could pretty easily sell stuff for half of what they charge and make a relative killing. $500 for a nightstand??? Come on!! So if I wanted to pick up some extra $, I could do it in a way that's enjoyable to me and doesn't have me sitting at a desk all day. So far I've had zero desire to earn one penny doing work, but maybe that will change in the future.

In my case, even though the markets have been pretty tame since I ER'ed last November, I'm finding our net worth is still increasing pretty substantially (just as MMM promised, haha!!). That's been further peace of mind that we can live comfortably within our budget, all while still building a larger safety net against future downturns. I'll bet you will discover the same thing.

If you need any other push not to wait too long: You're not getting any younger ;-) Don't be like several colleagues of mine who have been taken away from their desks by ambulance after suffering heart attacks or a stroke. Or many that I saw literally limping to and from work, hunched over, in their old age. Or many, many of them that officially retire on Friday at age 60, drawing large pensions, and are back on Monday as contractors to earn even more. What is that about?

So why not give it a try, temporarily, and see how it goes?

okashira

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Re: A different OMY (One More Year) scenario
« Reply #8 on: July 11, 2014, 01:21:02 PM »
Facepunch. This is not an OMY scenario. This is just old fashioned procrastination. You're softened by that high income.

OMY scenarios are people who WANT to and can retire, but can't because of anxiety, etc.

In your situation, deep down, you don't want to do these things because they are all sacrifices and require effort of some sort.

yandz

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Re: A different OMY (One More Year) scenario
« Reply #9 on: July 11, 2014, 01:22:18 PM »

What are your annual premiums yandz? Married, kids, location, work subsidized at all??

Holy buckets!  I will never whine about insurance again. I am married, no kids. In Minneapolis. I am late 20s he is mid 30s. Both plans subsidize. If we went through my employer (small-ish employer 170 employees), insurance premiums were $200/mo (this was the same for employee+1 or employee+fam) Deductible and out of pocket max are the same was $4500 per person or $9000 per family.

His employer was better. Large tech company. For the two of us $160/mo or $2k per year premiums for health, vision, dental.  Out of pocket is $8500 for the two of us, but employer HRA covers $1500 of this.

These are both worse that my last employer (giant med device company so we had it pretty sweet).  So yeah.  Zipping whine-y "why-does-my-birth-control-co-pay-cost-so-much" mouth immediately.

Cheddar Stacker

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Re: A different OMY (One More Year) scenario
« Reply #10 on: July 11, 2014, 01:34:52 PM »
DoubleDown - I'm glad your time off is going well. It's a great success story. I have to ask though, did you read past the first sentence? We're talking about small decisions, not the big retire from work issue.  When I'm ready financially to retire, I'm out, no doubts.

Facepunch. This is not an OMY scenario. This is just old fashioned procrastination. You're softened by that high income.

OMY scenarios are people who WANT to and can retire, but can't because of anxiety, etc.

In your situation, deep down, you don't want to do these things because they are all sacrifices and require effort of some sort.

It's not the traditional OMY scenario, you're correct. I agree with your second line, and that fits my example #2 perfectly.

However, I disagree on #1 and 3 of my examples. I procrastinate with the best of them. It's why I'm so active on this forum. But, when it comes to saving some cash I jump right on it and don't mind the effort. I'm a serial re-financer and it drives my wife crazy.

Cell - I can't wait to change cell carriers. I will save $80/month. What I left out is that work covers mine, and I don't think they'll be happy covering the old one (buyout) and the new one. I ran the numbers last fall, and the numbers said to wait until this fall. I will change in a few months for sure.

Cable - yeah, this one will require effort and a very difficult conversation with my wife. I do not want to do this one. It will be ugly.

Health - Again I don't mind the effort if it will save money. I've already done the research and comparisons of plans. I've wanted an HSA for 5 years now, but the numbers don't make sense yet. When you plan on using your health insurance often (having kids, immunizations, well baby checkups) it doesn't make sense to reduce premiums for a higher out of pocket.

Cheddar Stacker

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Re: A different OMY (One More Year) scenario
« Reply #11 on: July 11, 2014, 01:40:07 PM »

What are your annual premiums yandz? Married, kids, location, work subsidized at all??

Holy buckets!  I will never whine about insurance again. I am married, no kids. In Minneapolis. I am late 20s he is mid 30s. Both plans subsidize. If we went through my employer (small-ish employer 170 employees), insurance premiums were $200/mo (this was the same for employee+1 or employee+fam) Deductible and out of pocket max are the same was $4500 per person or $9000 per family.

His employer was better. Large tech company. For the two of us $160/mo or $2k per year premiums for health, vision, dental.  Out of pocket is $8500 for the two of us, but employer HRA covers $1500 of this.

These are both worse that my last employer (giant med device company so we had it pretty sweet).  So yeah.  Zipping whine-y "why-does-my-birth-control-co-pay-cost-so-much" mouth immediately.

Ha! Holy buckets! Glad to hear you have good coverage at a cost that's fairly low to you.

We have about 20 employees, so very small even compared to your 170. Our employees only pay about $50/month for themselves, plus 100% of their family if on the plan. But all of them are a high cost plan like mine and the company covers the difference.

I'm not surprised you thought your costs were high. I think a lot of people don't quite now how bad it can be. I had many conversations with people when the ACA was coming out who thought it was a non-issue since they only paid $1-2K/year for their family coverage. They were floored when I told them our costs, and I know there are plenty of people who pay a lot more than us.

Edit in red
« Last Edit: July 11, 2014, 01:50:48 PM by Cheddar Stacker »

dragoncar

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Re: A different OMY (One More Year) scenario
« Reply #12 on: July 11, 2014, 01:46:35 PM »
I'm having OMY for housing.  I look at nicer places where I could pay off the difference in 1-2 more years of work compared to the bottom barrel places.  The question I'm asking is: am I willing to work an extra year to live in this house?  I'm finding the answer to be yes, but then there's the next step: am I willing to work another year after that do X upgrade?  Probably not, but right now my local housing market is in flux... Some people are asking way too little and starting bidding wars while others are asking too much and languishing on the market.  This makes it hard to evaluate what the "real" prices will be without doing lots of comps.  For example I might look at a losing for a townhouse and compare to the asking price of a house.  House is worth OMY.  But Lo, the townhouse is overpriced and the house is underpriced.  Now it's 2 years and I'm back to looking at only townhouses.  Argh!

yandz

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Re: A different OMY (One More Year) scenario
« Reply #13 on: July 11, 2014, 01:50:11 PM »
My only other thoughts on switching to the ACA HDHP that you were talking about is the possible tax benefits.  For example, if your out of pocket expenses are "only" 4k and you can fund the HSA to $6250(? is that right? can't remember) you have a lovely tax sheltered place for another 2 grand.  So it might be somewhat of a wash, there are hidden benefits to making the move. Every dollar counts.  Good luck. 

I work as a product manager in med device and just moved to a DME (previously surgical implants) company, so I am getting quite the education when it comes to insurers.  Spoiler alert - I still don't like them.

Cheddar Stacker

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Re: A different OMY (One More Year) scenario
« Reply #14 on: July 11, 2014, 01:56:34 PM »
Thanks for the comment yandz. I considered that as well. Tax deferral is great and I could put another $2K away if I switch and everything goes according to plan.

The flip side of course is that our $4K expense could turn into $12K (max out of pocket for the HDHP) or it could also turn into $1K and I end up with $5K in the HSA at year end.

I'm just sticking as is for OMY when I know we will still be visiting the doctor a lot for our youngest child.

I'm having OMY for housing.  I look at nicer places where I could pay off the difference in 1-2 more years of work compared to the bottom barrel places.  The question I'm asking is: am I willing to work an extra year to live in this house?  I'm finding the answer to be yes, but then there's the next step: am I willing to work another year after that do X upgrade?  Probably not, but right now my local housing market is in flux... Some people are asking way too little and starting bidding wars while others are asking too much and languishing on the market.  This makes it hard to evaluate what the "real" prices will be without doing lots of comps.  For example I might look at a losing for a townhouse and compare to the asking price of a house.  House is worth OMY.  But Lo, the townhouse is overpriced and the house is underpriced.  Now it's 2 years and I'm back to looking at only townhouses.  Argh!

Tough one. This is more of a classic OMY scenario I guess, but wrapped in a specific micro decision. Thanks for playing dragoncar. Good luck with your search.

okashira

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Re: A different OMY (One More Year) scenario
« Reply #15 on: July 11, 2014, 04:36:44 PM »
DoubleDown - I'm glad your time off is going well. It's a great success story. I have to ask though, did you read past the first sentence? We're talking about small decisions, not the big retire from work issue.  When I'm ready financially to retire, I'm out, no doubts.

Facepunch. This is not an OMY scenario. This is just old fashioned procrastination. You're softened by that high income.

OMY scenarios are people who WANT to and can retire, but can't because of anxiety, etc.

In your situation, deep down, you don't want to do these things because they are all sacrifices and require effort of some sort.

It's not the traditional OMY scenario, you're correct. I agree with your second line, and that fits my example #2 perfectly.

However, I disagree on #1 and 3 of my examples. I procrastinate with the best of them. It's why I'm so active on this forum. But, when it comes to saving some cash I jump right on it and don't mind the effort. I'm a serial re-financer and it drives my wife crazy.

Cell - I can't wait to change cell carriers. I will save $80/month. What I left out is that work covers mine, and I don't think they'll be happy covering the old one (buyout) and the new one. I ran the numbers last fall, and the numbers said to wait until this fall. I will change in a few months for sure.

Cable - yeah, this one will require effort and a very difficult conversation with my wife. I do not want to do this one. It will be ugly.

Health - Again I don't mind the effort if it will save money. I've already done the research and comparisons of plans. I've wanted an HSA for 5 years now, but the numbers don't make sense yet. When you plan on using your health insurance often (having kids, immunizations, well baby checkups) it doesn't make sense to reduce premiums for a higher out of pocket.

Refi- I hear you. I have refinanced my New Clown Car purchase (2009 model) 3 times. One time, I cashed out $5000. My upside is that I went from 5% to 2.5% to 1.5% interest, with no fees on any refi :-D

Cell- I question your numbers. Is this because of ETF? You also need to consider depreciation on your phone. Sell it now or later, phones depreciate FAST.

Heath - Well this is a special case, surely your employer provides a subsity, which you would lose on the market?

Cheddar Stacker

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Re: A different OMY (One More Year) scenario
« Reply #16 on: July 11, 2014, 04:43:44 PM »
Etf sorta. We bought 2 smart phones. The models were 2-3 years old. Paid for it with monthly payments (no interest) that are just added to the bill. We still have 8-10 months left. My work pays for 100% of mine. The phones don't have much resale value since they weren't newer ones.

So if I stay work continues to buy my phone. If I leave I'd have to pay the rest of the phone. I'm letting work pay for a few more months based on my breakeven analysis.

okashira

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Re: A different OMY (One More Year) scenario
« Reply #17 on: July 11, 2014, 04:48:20 PM »
Etf sorta. We bought 2 smart phones. The models were 2-3 years old. Paid for it with monthly payments (no interest) that are just added to the bill. We still have 8-10 months left. My work pays for 100% of mine. The phones don't have much resale value since they weren't newer ones.

So if I stay work continues to buy my phone. If I leave I'd have to pay the rest of the phone. I'm letting work pay for a few more months based on my breakeven analysis.

I totally missed the part on work and cell phone. That throws a wrench into that one. You're fine, keep milking it.

You seem anxious to make the change, though.

If the difference is only $20 or so, and it will result in savings in the future, why not make it happen now to get it out of your mind?
It might increase your resolve to have the wifey-cable convo. ;-)

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Re: A different OMY (One More Year) scenario
« Reply #18 on: July 11, 2014, 04:49:49 PM »
Small companies get the shitake handed to them on health insurance. Cheddar Stacker - You're in an interesting dilemma with being a Partner. Have the company subsidize more of the health insurance plan and decrease partnership profits, lol. I would look to get a quote for an HSA PLan during the next insurance cycle. You already know the tax ramifications. But you can also invest the funds of an HSA in a S & P 500 INDEX. Think to yourself as to how many years over the next 5 to 10 years will you spend over $5k to $10k in healthcare in a single year.

Cheddar Stacker

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Re: A different OMY (One More Year) scenario
« Reply #19 on: July 11, 2014, 06:43:38 PM »
Small companies get the shitake handed to them on health insurance. Cheddar Stacker - You're in an interesting dilemma with being a Partner. Have the company subsidize more of the health insurance plan and decrease partnership profits, lol. I would look to get a quote for an HSA PLan during the next insurance cycle. You already know the tax ramifications. But you can also invest the funds of an HSA in a S & P 500 INDEX. Think to yourself as to how many years over the next 5 to 10 years will you spend over $5k to $10k in healthcare in a single year.

Yep that's the plan Numbers, I'm just waiting for the odds to turn my way. 2016 is the year methinks. It will be nice to qualify for a quasi-IRA to get another tax deferral.

DoubleDown

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Re: A different OMY (One More Year) scenario
« Reply #20 on: July 11, 2014, 08:27:42 PM »
I have to ask though, did you read past the first sentence? We're talking about small decisions, not the big retire from work issue.  When I'm ready financially to retire, I'm out, no doubts.

Yes, I read the whole post, and I thought I understood. Or it's equally likely I have no idea ;-)

But really, I don't see your situation as particularly different than the regular, larger OMY decision/doubts. You say "when I'm ready financially to retire, I'm out, no doubts."

But are you really? I mean, you're generally considered ready when your savings covers your expenses, but then OMY syndrome creeps in. If your expenses include cell phones and cable and health plans, how's that different from any other FIRE budget? If you want to keep working to cover some particular expenses in retirement, that's a normal thing to do. I think we've all struggled with the unknowns of future expenses, or to cover our own personal wants vs. needs, and hopefully build in a large enough buffer to handle them.

I guess I don't have much to add to my general response above, which is not to get sucked onto the OMY treadmill! When you've accrued the amount needed to cover your expenses, call it a day, and know that you can always un-retire or make other adjustments.

I'll play along, my OMY "micro" expenses include:

- Child support paid to my ex for another 7 years (hopefully you'll never encounter that one)
- College for kids
- Health care
- Pretty liberal "miscellaneous" and "entertainment" budget categories, replacing cars in the future, gifts, travel and vacations, charitable donations

Cheddar Stacker

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Re: A different OMY (One More Year) scenario
« Reply #21 on: July 11, 2014, 08:40:29 PM »
Got it DD. Ok, let me clarify because dragoncar's response had the same general tone so I must not have set the stage properly here.

These micro expenses are not causing omy at work before I fire. I'm 5-10 years from fire depending on 100 variables. These are just little bs expenses that I've had to say omy to before I have a chance at dropping them in a mathematically optimal way.

Does that clear it up or are we still on different pages?

And seriously congrats on your freedom. Good stuff.

arebelspy

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Re: A different OMY (One More Year) scenario
« Reply #22 on: August 11, 2014, 09:32:45 AM »
I see a lot of people say OMY to procrastinate on things ("Now's not the right time, but soon..."), but rarely is OMY an actual "locked in" thing that isn't avoidable.

Contracts are some of the few rare cases.
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dragoncar

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Re: A different OMY (One More Year) scenario
« Reply #23 on: August 11, 2014, 10:57:47 AM »
Got it DD. Ok, let me clarify because dragoncar's response had the same general tone so I must not have set the stage properly here.

These micro expenses are not causing omy at work before I fire. I'm 5-10 years from fire depending on 100 variables. These are just little bs expenses that I've had to say omy to before I have a chance at dropping them in a mathematically optimal way.

Does that clear it up or are we still on different pages?

And seriously congrats on your freedom. Good stuff.

OK, I get it now.  Yeah, I'd agree cell phone is one of those (under contract now), produce expenses (I'd like to garden), meat expenses (I'd like to buy a portion of cow), walking/biking more for errands (I sometimes don't feel like I have the time these days), etc.  Things like getting my work shirts pressed, which I don't mind ironing my own shirts if I'm retired but again don't feel like i have the time.  I try to do my own car work but if something big came up that I needed done quickly, I would pay a mechanic whereas in FIRE I would take a couple weeks learning how to fix it.  Building my own furniture maybe.

Mister Fancypants

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Re: A different OMY (One More Year) scenario
« Reply #24 on: August 11, 2014, 11:13:52 AM »
Example 1: Cell phone contract - We purchased our first smart phones just over a year ago, about 3 months before I stumbled onto MMM's website. Didn't get the newest most expensive models but we went through T-Mobile and are paying $X/month for 2 years to buy the phones (no contract, but have to pay off phones if we leave). I went through an analysis last fall on whether to switch to Republic Wireless and long story short my conclusion was ... OMY.

I can't comment on this as we have a family plan with a corporate discount and have a fairly cheap enough plan that I couldn't justify dropping my deal with Verizon. we are grandfathered in with much cheaper than market data plans, so ymmv.

Example 2: Cable TV contract - First, let me give myself the obligatory FACEPUNCH. Now that we got that out of the way, we switched providers the same time as cell phones above BMMM (Before MMM). I didn't even look into a cancellation fee yet, I just said OMY and I'll look into it. Also, I'd be ok letting it go but I think it might cause WWIII in my household so I haven't even mentioned it to the family yet. This one may never change, but if it keeps the peace in the family (keeps them happy) it's a small price to pay I guess. I'm torn here, because we all say spend on what you want. I don't want it anymore, but we are a family and I don't want to make myself happy at their expense.

I am with you, cable really does nothing for me, I finally convinced my wife who really was much less likely to cut the cable into a reduction in service. So as she the master negotiator of the 2 of us, she called to reduce our services. In the end, we wound up upgrading and getting a lot more channels, the kicker was, the price was reduced substantially. Gotta love how my wife works... She keeps her cable and I got an expense cut... Win Win.... Kinda sorta....

Example 3: Healthcare - I have coverage through work, and I cover the entire family through that policy. Premiums ~ $10K/year. Deductibles - $2,500/person $5,000/family. I loathe this expense and I want to get a HDHP with an HSA. I just priced this through an agent and on the ACA website and strongly considered it for next enrollment. However, 10 minutes ago I reached the same frustrating conclusion...OMY. We are done having kids (hopefully) and in OMY we'll finish the last round of kiddie immunizations. I think switching for 2016 will be my best play in the long run.

I pay for corporate healthcare and from my understanding if you are eligible for work based healthcare you are not able to get ACA based plans, or at least not any subsidies. That being said my work plan is far superior to the ACA plans and to me it is pennywise and pound foolish to try to cut corners on healthcare... You never know when it will come in handy. Even if it is paying for better customer service to cut through red tape when you are in an emergency situation.

Health is not somewhere I cut corners....

former player

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Re: A different OMY (One More Year) scenario
« Reply #25 on: August 11, 2014, 11:22:03 AM »
Re cable: there has been some research reported recently that watching screens before going to sleep disturbs the amount and quality of sleep people get.  You could use this to suggest fewer TVs/less convenient locations for TVs, and a curfew on watching in the hour or two before going to bed.  The family get better sleep and more face-time in the nice rooms of the house.  And so gradually cable becomes less important...