Hi I've been reading the blogs for weeks and love it. Just joined the forum today and glad to be here. Almost all MMM articles are based on drawing 4%, 40K, off of a portfolio of about $1M. My net worth is more like 850K, with 650K of this working hard in the stock market. The rest is my home, paid for, and I only need about 24K per year to live on. Based on the 4% rule, for me this is 26K. Based on this, I might stop now, but we all know the next few years are going to be volatile in the markets. Otherwise, I can keep going in my prime earning years, adding about 100K per year to my portfolio, in years where stocks will be cheap, but I'll continue to be miserable in a hellish job situation. Any thoughts? Thanks a lot.
@mountainmustache, same song different verse here. FYI, I'm early 50s former professional, still have license; 5 years since I last worked, though. In other words, your age is exactly when I left the job. Get ready to leave, my brother!
That said, for my own personal reasons, I may go back to work soon. So I will add a few pro/con/in between thoughts. TL;DR - think about what you used to like about your job. If there is anything about your profession you like, don't focus on quitting, focus on finding a different job that suits you.
Pro - like everyone, I agree your stash is sufficient. You don't have to work any more. I left with less than you, still have less than you, and am ok...ish. My deal is different but boils down to about 22k expected income and 20k to 22k expenses at present. I am fine and you will be just fine too. Do not stay in hell!!!
Con - My income vs expense is ok but still feels a bit thin. My total stash is about 480k including equity in a mortgaged home, so a much smaller stash than yours. That's a secondary reason I may return to work. A primary reason is that I'm more passive than the Mustachian Standard, and have melted into a pattern of shrinking a little in my skills and abilities, not using my time in ways that grow myself, and generally doing comfort routines without being fulfilled or challenging my mundane private fears. In short, I became more of a hermit than I want to admit...while the same weaknesses that made my work life difficult followed me into retirement because they were part of me, not the job. Still, the workplace is the spot I'm most scared of, and I feel like getting on the horse again would help me emotionally. Your mileage may be very different, but if you're not reaching for something specific in retirement, consider whether you might like to work if the conditions were better. I can tell you that if you quit and two or three years later start interviewing, there certainly are questions asked. If deep down you'd like some job, just not the job you have, find that. You can do this before you quit or after. What Color Is Your Parachute is a good resource for this. Don't squander this prime opportunity to transition into a dream situation.
In between - so there's a great big world. Work isn't the only thing. Giving yourself time to decompress and find what you want. You really don't have to work. And if you want to find something after decompressing, you can get there in your own time.
Whatever you decide - enjoy the escape from hell, and let us know what happens.
PS. To start the longer term process of deciding what you really want:
1. What is hellish about your current situation?
2. Is there anything you still like about your profession? If so, what?
3. If you quit work entirely, what would you really like to do all day? Remember...you can do ANYTHING.
4. Could a job exist that you WOULD want? If so, what would it be like?