Author Topic: How do I cut the cord?  (Read 10284 times)

brewer12345

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How do I cut the cord?
« on: February 27, 2013, 03:11:40 PM »
I am struggling with how to take the flying leap to semi-retirement/self-employed status and would appreciate thoughts.  I will be 40 later this year, married, 2 kids in grade school.  My wife is already self employed and her business is starting to take off.  I expect she will net something like 25k this year, which is all we are targetting for her to do (everything we cannot stuff in a solo 401k gets taxed at our marginal rate, which approaches 50% when you add in self employment taxes).  I have always been a salaryman cube-dweller and my current job is one that is deeply unexciting, fairly inflexible, but very safe.  I have had it with bureaucracy and enforced idleness/cube-dwelling and would like to break free.  I have to stick around until at least the end of the year to vest about $50k in retirement goodies and bonus money, but after that I am free to go at any time if I wish.  There will be some financial temptation to stick around for a while past that because of an extremely generous employer match to 401k and cash balance pension, all of which is vested the moment the money hits the account.

Our financial picture is pretty solid.  We'll have a roughly 1.2MM portfolio by the end of the year.  The house has a mortgage that I have no interest in paying off, but the payment is pretty modest (about 900 a month).  Only other debt is a loan on my truck at peanuts interest and I can prepay it any time I like with cash on hand (I may choose to do so when an old CD with a juicy rate matures in January).  I estimate our pro-forma budget after I am not working full time (with all the costs and inefficiencies it entails) at roughly 60k, but there is an element of risk there in that I don't know what health insurance would cost (and the coming market changes make that really tough to SWAG).  My wife's business is on track to bring in 25k this year and she is at the point of turning away additional work because its not worth teh aggravation when she has to give up half the earnings in taxes.  I woudl imagine she could pretty easily bring in 30k, leaving me with the job of generating another 30k or so a year without working too hard or long.

You might wonder why I am hesitating.  I have a few hang-ups/concerns that I am trying to figure out answers to:

- health insurance is a real question mark.  I have no way of accurately estimating what the landscape will look like.  I am hoping that by mid 2014 things will be clear.  I live in CO not that far from MMM and the state has elected to create its own health insurance exchange, so hopefully things will be set by next year.
- college for the kids.  This isn't specifically saved for or budgeted for as of yet.
- how will I come up with 30k a year?  I've always been an employee, never an entrepreneur.
- nagging fear, I guess.  The recession was not a fun or happy time for me and while I didn't do anything stupid with my portfolio (was buying, actually), it has left me a bit gunshy.

Thoughts?  Perspectives?  The long term goal is to semi retire and make enough to cover our costs for enough years that the portfolio grows big enough to support us without working at all.  When I plug 10 years of no draws on the portfolio and then a 40 year retirment into firecalc I get 100% historical success.  Somehow I am still a little leery of making the jump.

Use it up, wear it out...

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Re: How do I cut the cord?
« Reply #1 on: February 27, 2013, 03:18:49 PM »
brewer,

Elephant in the room: What do you want to do with your life?

Sounds like you could totally retire right now, with wife earning $25K / year and a small draw from your 'stash, if you were ready to cut expenses to do it. No need to work part time.

It's OK if what you want to do also includes something that earns you money. It's OK if what you want to do is something that doesn't earn any money, provided you and your wife get to the right expense level. But if you don't know what you want to do, how are you going to decide?

Put another way: your savings ways has bought you the (possibility) of freedom. Now you have to decide how to use it.

brewer12345

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Re: How do I cut the cord?
« Reply #2 on: February 27, 2013, 03:29:09 PM »
I could entertain myself until the end of my days without working another day of my life.  I have lots of hobbies that I don't have enough time for already (fishing, hiking, starting biking, hunting, brewing, wine making, cooking, preserving, etc.) and others I would like to take up (become a decent gardener, get back into archery, get in better physical shape, get back into dog rescue, etc.).  The "what will I do all day?" question is not a problem.

The reason I feel the need to earn money for a number of years is to 1) keep my options open to return to full time work in case this whole plan does not work out (bad things happen with depressing frequency) and 2) I am not fully convinced that my portfolio is big enough for safety long term.  I guess a professional life of doing credit analysis has made me cautious and to expect things to go wrong fairly often.

marty998

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Re: How do I cut the cord?
« Reply #3 on: February 28, 2013, 12:29:23 AM »
I could entertain myself until the end of my days without working another day of my life.  I have lots of hobbies that I don't have enough time for already (fishing, hiking, starting biking, hunting, brewing, wine making, cooking, preserving, etc.) and others I would like to take up (become a decent gardener, get back into archery, get in better physical shape, get back into dog rescue, etc.).  The "what will I do all day?" question is not a problem.

The reason I feel the need to earn money for a number of years is to 1) keep my options open to return to full time work in case this whole plan does not work out (bad things happen with depressing frequency) and 2) I am not fully convinced that my portfolio is big enough for safety long term.  I guess a professional life of doing credit analysis has made me cautious and to expect things to go wrong fairly often.

You're being a wuss. A $1.2m portfolio should generate $60k+ in income + capital gains.

Hand in your resignation and go enjoy life.

And if you do get bored after all of those activities, help your wife with her business.

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Re: How do I cut the cord?
« Reply #4 on: February 28, 2013, 06:33:46 AM »
In your shoes, I would wait until the health insurance issue has been sorted out before I did anything.  That's especially important because you need to insure four people.  You would be penalized in 2014 for having had a good income in 2012, but the net price to you should come down a year after you separate employment.  I would want a firm grasp on the cost of health insurance before I did anything.  Resolving the health insurance issue will happen after you are vested in that extra $50k anyway.

The kids will have some form of financial aid available to them for college if your income is low enough.  A lot of your assets will be in retirement accounts which are treated in a different manner when calculating financial aid eligibility as I understand it.

There is no way I would consider relying on a 5 percent withdrawal rate as the previous post suggests.  Why not plan on staying two more years, saving like mad, and having a good feel for what your wife's business can consistently gross when you decide to cut the cord?  As you get to the 18 month point, you can re-evaluate and make a more informed decision.  That's probably how I would approach this in your shoes.

arebelspy

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Re: How do I cut the cord?
« Reply #5 on: February 28, 2013, 07:46:26 AM »
You're being a wuss. A $1.2m portfolio should generate $60k+ in income + capital gains.

He's a wuss for not wanting a 5% SWR at 40?  I'd bet that would hit ER failure about half the time, barring other intervention.  One can't be blamed, IMO, for going for a little safer than that.  ;)

However, with the wife earning 30k, that suddenly drops the SWR to 2.5%. Much more feasible. 

Thus, after you figure out the healthcare thing, like AR suggests, I think you can feel fairly comfortable jumping into semi-ER and not worrying if you only make 10k (putting you at a 1.6% SWR) or 20k (under 1% SWR). So I wouldn't stress too much about "how can I generate 30k?"

Especially if some of that 60k spending is flexible.

And that's not even counting in any of that pension you mentioned that will kick in later (and likely SS).  The key, IMO, is that wife's business cutting in half the amount you need to generate.  How steady is that, and how long do you two desire it to continue?
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HawkeyeNFO

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Re: How do I cut the cord?
« Reply #6 on: February 28, 2013, 08:51:33 AM »
You're being a wuss. A $1.2m portfolio should generate $60k+ in income + capital gains.

Hand in your resignation and go enjoy life.

And if you do get bored after all of those activities, help your wife with her business.

Disagree.  Primarily, because (as others have pointed out) the health-care issue is BIG.  Especially with the 2 kids in school. 

Nate R

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Re: How do I cut the cord?
« Reply #7 on: February 28, 2013, 08:57:29 AM »
And just because there's an exchange set up doesn't mean the picture will be clear. Exchanges will only be open for enrollment during certain times of the year. Many companies won't even offer any plans in the exchanges right away, as they themselves are waiting for things to be more clear.

Point being, it may take longer than you think for things to settle down. But I agree with some others, worth waiting until you know what the landscape will look like in medical.

Tyler

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Re: How do I cut the cord?
« Reply #8 on: February 28, 2013, 10:18:21 AM »
@Brewer - Congrats on building your envious financial situation.  That took a lot of hard work and responsible planning, I'm sure.  Your logical rationalizing reminds me of my own thought processes.  Engineer?

Waiting a year to fully vest and to see how healthcare shakes out is a reasonable plan.  In the meantime, it sounds like you need to do two things:

1) Think about what you'd like to do.  Not in terms of what you need to earn to please Firecalc, but what you'd really enjoy doing.  Once you find something that gets you excited, I have a feeling the hesitation will quickly melt away. 

2) Allocate time to thinking less about the (uncertain) future and more about the (fully controllable) now.  How much effort have you really put into minimizing expenses?  Don't wait until you're FI to cut back - do it aggressively right now to see how you like it.  You may find out that you need a lot less than $60k/year, and you have a lot more safety margin than your spreadsheets show you based on your current spending assumptions. 



« Last Edit: February 28, 2013, 10:19:52 AM by Tyler »

marty998

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Re: How do I cut the cord?
« Reply #9 on: February 28, 2013, 01:54:00 PM »
No I did not say 5% withdrawal rate

I said the portfolio generates 60k income + cap gains, If he averages 4% cap gains thats another 48-50k.

So thats stache growth of over $100k a year. + there is the wife's business income.

The OP said he enjoys everything except work, and yet he is working when he doesn't have to. By all means drop to part time if you really don't wish to give up work entirely, but don't feel as if you need to stay in the job as if your life depended on it.

I'm sorry for being blunt, but if he is going to wait till end of year for another bonus etc then its a case of "1 more year" syndrome.

arebelspy

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Re: How do I cut the cord?
« Reply #10 on: February 28, 2013, 02:01:21 PM »
No I did not say 5% withdrawal rate

I said the portfolio generates 60k income + cap gains, If he averages 4% cap gains thats another 48-50k.

So thats stache growth of over $100k a year.

Ah, so more than a 5% SWR (110k on 1.2MM = 9.1%).

I don't think 5% income (dividends) and another 4% capital gains is realistic to assume year in and year out for 40+ years.

Again, I can't fault him for wanting more security than that.
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SunshineGirl

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Re: How do I cut the cord?
« Reply #11 on: February 28, 2013, 02:18:05 PM »
Well, what is your mortgage? The lower you can get your expenses, the more your hesitation will decline, so why not consider paying off the vehicle and house?

Also, if it helps, why don't you tell yourself that you're taking a sabbatical from work. It sounds less permanent! Or downshift to a lower-pay and lower-stress job to help ease the transition.

brewer12345

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Re: How do I cut the cord?
« Reply #12 on: February 28, 2013, 06:31:04 PM »
Wow, lots of thoughtful responses.  Sorry for the radio silence today.  This was the last day of small game season in CO and since I got hosed on a chance to go out one last time last weekend (family obligation one day, blizzard the next), I took the day off and got out there.  7 hours of creeping around the woods lugging a shotgun and my gear has me mostly interested in sitting down tonight, so here I am.

I am not an engineer.  I wasn't good enough at math to cut it there.  Instead, I am a finance/accounting type and I have spent most of my career doing credit analysis (junk bonds will teach you to be cautious) and analyzing financial institutions (where stupid decisions are apparently a way of life).

To address a few points and questions:

- DW's business is as a free-lance career counselor.  She has been self employed for a decade, starting before the arrival of our eldest so that she had time to set things up before kids were introduced to the mix.  This was always a way for her to stay sharp and be able to go back to the workforce if necessary, with earning money a secondary or tertiary consideration.  As a result, for several years she earned 4 to 7 grand a year, which we stuffed in a solo 401k.  With the kids starting to go to school, she was on track to make 20k or better two years ago, but we relocated from the tax hell of NJ to CO.  She had to start all over again with the business.  She did almost 8k last year and this year she is on track to do 25 to 30k.  She is turning away incremental business because we can' shelter any more income from taxes and her marginal rate is approaching 50% (not worth the hassle).  In a pinch, she could take her two Ivy League master's degrees and all the letters after her name and walk into a job at a local university that would cover all our expenses.

- We have always been good at making money and saving, but never at budgeting.  We always maxed 401ks, DW's net business earnings go into a solo 401k, and when I was making big coin in the go-go years for my field the embarassingly large bonuses wnet into savings. I have pencilled out a pro forma budget based on what I know our fixed expenses to be and there is some slush fund money in it, but I could not tell you where every penny goes today.  This is something I should be better at, but never have been.  What do people use to track spending?  Mint.com?  Something else?

- The mortgage and car note approximate the value of our taxable investment accounts.  Since the accounts earn far more than the after tax cost of the debt and I strongly prefer liquidity/flexibility, I am in no hurry to pay any of it off.

- If you want to start a fight in a retirement forum, start talking about what withdrawal rate is safe.  I will freely admt that I have no certainty what rate of withdrawal is safe at the present time.  However, I am mindful of the facts that we are in a very low interest rate environment and DW is likely to live another 50 years or more, so conservatism would seem to be in order.  I would have no problem tapping the portfolio for 10 or 20k in any given year, especially if the path of returns does not include anything especially nasty in the early years.  But there is no way what I have will last 50 years with any degree of sleep at night factor for me.  I have ignored SS (consevative assmption) and am clearly assuming a  non-Panglossian outlook, so there is a lot of potential fat in my assupmptions.  It is also highly likely that between DW and I we will inherit something like 500k at some point.  I think it is prudent not to count on such things.

- Healthcare insurance is clearly the $64,000 question.  I can dial up a policy and see what it costs today, but I think that is worthless in the face of the tremendous change this market is about to go through.

I guess this all boils down to the following:

- I need to hang in there for another 12 to 18 months to capture work $$$ and see how healthcare insurance pans out.  This will also allow more of a clue as to what DW's business track record will be.

- I need to learn how to track expenses so that I can get an idea of what fat can be cut.

Anything else?

arebelspy

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Re: How do I cut the cord?
« Reply #13 on: February 28, 2013, 07:04:33 PM »
Oh lots more, I'm sure.

Asset allocation, for one.

But you probably have enough to start with for now.  ;)
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brewer12345

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Re: How do I cut the cord?
« Reply #14 on: February 28, 2013, 07:13:35 PM »
Asset allocation is not an issue for me.  I am comfy with 60% equity, 30 to 35% cash and bonds, and the balance "other" (mostly merger arbitrage funds).  However, I am guilty of some concentrated positions I need to work down before I bail on the cube.

alaithea

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Re: How do I cut the cord?
« Reply #15 on: February 28, 2013, 08:12:36 PM »
I believe it IS worth it to look into a health insurance policy right now. You'd need to confirm the details on this, but I believe the ACA put in place a 10% cap on year-over-year increases for current plan members' premiums. Premiums are predicted to rise next year as a result of all the provisions of the ACA finally going into effect in 2014, which means that if you start with a private health insurance plan now, you're locking in that rate plus an additional max of 10% for next year, as opposed to the +30% that some are saying we'll see in 2014.

As for the details, the cap is called "Rate Review," and it applies to plans created after 3/23/2010. See http://www.healthcare.gov/law/features/costs/rate-review/index.html

John74

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Re: How do I cut the cord?
« Reply #16 on: February 28, 2013, 08:21:48 PM »
How long is your wife willing to keep working? If she is willing to work until her 60s, it sounds like her income might be replaced by SS when she retires and your portfolio is large enough to produce the extra $30K per year you need for a very long time. Otherwise, I agree that you should try to find a gig to bridge the income gap. What that is, I don't know. DW and I are brainstorming right now to figure out how to diversify our passive income with a little bit of earned income which would provide some margin of safety when the markets go to hell. But our skill set is probably different than yours.

Nate R

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Re: How do I cut the cord?
« Reply #17 on: February 28, 2013, 08:22:20 PM »
I believe it IS worth it to look into a health insurance policy right now. You'd need to confirm the details on this, but I believe the ACA put in place a 10% cap on year-over-year increases for current plan members' premiums. Premiums are predicted to rise next year as a result of all the provisions of the ACA finally going into effect in 2014, which means that if you start with a private health insurance plan now, you're locking in that rate plus an additional max of 10% for next year, as opposed to the +30% that some are saying we'll see in 2014.

As for the details, the cap is called "Rate Review," and it applies to plans created after 3/23/2010. See http://www.healthcare.gov/law/features/costs/rate-review/index.html

Not really a cap. They just have to "justify" the increase. And do you think there won't be rate increases over 10% when Medicare reimbursement is simultaneously being cut?

alaithea

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Re: How do I cut the cord?
« Reply #18 on: February 28, 2013, 08:43:20 PM »
Not really a cap. They just have to "justify" the increase. And do you think there won't be rate increases over 10% when Medicare reimbursement is simultaneously being cut?

That's true. One can hope. But I was just trying to encourage the OP to look into it rather than wait. Private plans might not be as expensive as he thinks they are. I'm paying hundreds less per month for similar benefits with the same insurer, by ditching my employer's plan and going private with a HDHP + HSA this year-- inspired by MMM's health insurance post. Of course, others' mileage may vary. My employer doesn't pay any portion of premiums for spouse or children, with a hefty deductible to boot, so taking my family elsewhere was a no-brainer.

brewer12345

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Re: How do I cut the cord?
« Reply #19 on: February 28, 2013, 08:50:37 PM »
Not really a cap. They just have to "justify" the increase. And do you think there won't be rate increases over 10% when Medicare reimbursement is simultaneously being cut?

That's true. One can hope. But I was just trying to encourage the OP to look into it rather than wait. Private plans might not be as expensive as he thinks they are. I'm paying hundreds less per month for similar benefits with the same insurer, by ditching my employer's plan and going private with a HDHP + HSA this year-- inspired by MMM's health insurance post. Of course, others' mileage may vary. My employer doesn't pay any portion of premiums for spouse or children, with a hefty deductible to boot, so taking my family elsewhere was a no-brainer.

My employer provides very heavily subsidized health insurance, so this is a non-starter for me.  I will revisit what private market health insurance looks like pre-reform.  I used to live in NJ, which was a take-all-comers state.  Premiums were unbelievable in the individual market.

marty998

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Re: How do I cut the cord?
« Reply #20 on: February 28, 2013, 11:51:57 PM »
Yeah sorry for getting a bit antsy there. But you did say you wanted to cut the cord :) Gave the best answer I could: Income $100k+ from stache, expenses $60k, so you ER and come out in front.

Invest wisely and good luck, I've nothing further to add

cheers

brewer12345

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Re: How do I cut the cord?
« Reply #21 on: March 01, 2013, 01:00:25 PM »
Plugging my particulars into ehealthinsurance.com, it looks like I could get a plan hat covers everything after a 10k deductible for about $500 a month.  That's not chicken feed, but its doable, especially as I believe health insurance premiums are deductible for the self employed.  It will be interesting to see how much that changes in a year.

Nords

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Re: How do I cut the cord?
« Reply #22 on: March 01, 2013, 10:41:18 PM »
I'm going to take a contrarian view from all the people clutching their corporate health insurance for dear life.

You need to retire as soon as you hit that vest.  Do not look back.  Do not go for "just one more year".  Circle the date on your calendar, make a plan, and then spend the rest of the year drafting your resignation letter.  You're polishing cannonballs over there.  The game you're hunting has stood up on its hind legs, walked right up to your shotgun barrel, and started licking the front sight.  Click off the safety and pull the trigger.  Seriously.

Plugging my particulars into ehealthinsurance.com, it looks like I could get a plan hat covers everything after a 10k deductible for about $500 a month.  That's not chicken feed, but its doable, especially as I believe health insurance premiums are deductible for the self employed.  It will be interesting to see how much that changes in a year.
I think you're risking your health as it is, and it's a testament to your endurance that you've lasted as long as you have.  You don't need to find out that you're living on borrowed time.  Once you retire you'll shed all the stress and you probably won't even need the health insurance... except for all the cosmic-ray exposure you're getting up there.  Can you shave some off the ehealthinsurance quote with even higher deductibles and a HSA?  How accident-prone are your kids?

I can't remember whether your spouse's employment has never come up before, but am I the only one here who appreciates the irony of advising a guy whose better half is a freelance career counselor?  Can you get a free hour's consultation from her before deciding whether her advice is worth her fee?  Please don't tell her I suggested that.

You've done everything you can do within the last five years to make your life better, short of leaving the workplace.  When I think of our first lunch in 2007, we've both come a long way.  I'm pretty sure you know what Bob Clyatt and BUM would tell you now.  You've improved your geography, your employment, your bosses... and that's just not going to get any better.  You've already spent a couple of years proving that you've done all you can do to "fix" the workplace.

What's your downside here?  Living off squirrel pot pie and a backyard veggie garden and homebrew?  (No need to answer that.)  I think that once you're free of the office and the commute and the business trips, you'll get caught up on your sleep.  You'll be outdoors more of the time and your fitness will bounce back pretty quickly.  You'll be spending time with family so your morale will improve.  (Although I could point out that morale could hardly get any lower.)  Your head will be full of ideas.  You'll monetize your blog.  You'll offload your spouse's housekeeping/clerical duties so that she can grow her business.  You'll never pay retail prices for meat ever again, and you might even be selling your excess.  You'll become a nationally-ranked homebrew judge.  (No need to answer that either).  You'll find more value-investing ideas than Ted Weschler & Warren Buffett combined.  (E-mail me when you're seeking shareholders.)  You'll start any kind of side business (because that's who you are) on your own terms and your own hours, and within five years you'll be earning $40K/year plus capital gains, and your spending will be down to a 3% SWR. 

The only thing you have to gain from work is a bonus with a small pension.  You have way more to lose than just some health insurance premiums.  If all else fails then you can take a year off and see how you feel about going back to your career field.  Tell 'em you worked at a dog daycare center for a year to learn how it feels to be respected as an employee.  I know a guy who's always looking for good help.

Think of how much fun it'll be to see your kids grow up into teenagers, and then to spend all of those years afterward persuading them to move out of the house.  When it's over, you'll be happier that you were suffering at their hands instead of from your boss & co-workers.

Yeah, I know.  Lifestyle advice from a guy with a federal COLA'd pension whose health insurance only costs $45/month.  But I've seen what the corporate cubicle culture does to guys in your situation.  I think you'd be much better off retired and worrying about where to get $500/month for your health insurance than you would be on medical leave from the office while you're trying to get out of the ICU.

Once you've had a couple months to decompress and relax, I think you'll be amazed by the stupdity opportunities all around you.  The bar is not that high.  You'll have the motivation & time to dig into the financial research that you certainly have the aptitude and stamina to do.  You'll find all sorts of ways to cut expenses around your house.  Your contacts will be pestering you for consulting, even if they're 2-3 time zones away.

I can't think of a single thing that you could do to make you more ready than you are right now.  Take the leap. 
« Last Edit: March 01, 2013, 10:45:07 PM by Nords »

Another Reader

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Re: How do I cut the cord?
« Reply #23 on: March 02, 2013, 06:57:41 AM »
A kick in the tail from someone that knows you is a heck of a lot more useful than advice from a bunch of anonymous people on the internet....especially if that person is Nords.  Insuring the wife and kids would be my big worry, but it sounds like you can work that out.  Working at a high level for a bunch of asssholes is VERY stressful and can destroy your health as well as your attitude.    Been there, done that, and I left as soon as I could find the door.

upnorth

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Re: How do I cut the cord?
« Reply #24 on: March 02, 2013, 08:09:42 AM »
Re: college costs. There are a lot of FAFSA calculators out there including ones for specific colleges (on their websites).  We are older parents and will be retired by the time kiddo goes to college.  The aid was very generous for our potential retirement income.  Most of our net worth is in our 401Ks/Roths/House, and it's surprising how much of that is excluded it the calculations.

GoStumpy

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Re: How do I cut the cord?
« Reply #25 on: March 02, 2013, 08:39:32 AM »
Now that there has been some good discussion, I can say...

I thought I was coming in here to discuss chainsaws :)

brewer12345

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Re: How do I cut the cord?
« Reply #26 on: March 02, 2013, 09:19:31 AM »
Thanks for the moment of clarity, Nords.  It is especially helpful to hear it from someone I have known for a long time.  You are right: I don't know what else I could do to make it better while remaining a salaryman and the position in which I have put myself has made it very feasible to take the leap.  Seeing DW's business blossom with the addition of some time and attention also makes me more confident that I could do something similar.  The healthcare insurance thing will work out, I imagine.  It sounds as if I will get a peek at prices for 2014 in the Fall, so by the end of the year I will have a pretty good idea of where I stand.  I suppose I just need to steel myself and stop waiting to hunker down for the next disaster at the expense of my health and time doing what I want to spend it on.  Maybe the next 10 to 18 months will allow me to mentally recondition (optimism does not come easily to me).

Ah, now the to do list:

- Finish an employer sponsored credential that could lead to freelance work
- start networking in my local professonal society
- figure out how to track expenses efficiently
- watch the healthcare thing play out
- Line up a HELOC and any other credit I want to have after I no longer have a W2
- Reduce portfolio concentrations
- sit back, relax, and feel my ass grow when they ask for volunteers at work for a new project

brewer12345

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Re: How do I cut the cord?
« Reply #27 on: March 02, 2013, 09:20:53 AM »
Now that there has been some good discussion, I can say...

I thought I was coming in here to discuss chainsaws :)

A 16 inch electric Worx brand is more than sufficient dfor all my backyard chainsawing needs and was under $100 at Lowe's.  Since I am planning on buying a generator, that will solve the problem of a lack of portability.

Jon_Snow

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Re: How do I cut the cord?
« Reply #28 on: March 02, 2013, 10:25:04 AM »
Wow, great thread. I am having issues as well in terms of timing my exit. Great info and advice to be had here.

I am about the same age as Brewer, with a slightly smaller portfolio (see sig below), a tiny mortgage ($275) and a wife who will continue to work (six figure salary). We don't and won't have kids, and we are Canadian so health care isn't as much of a concern.

As I have probably made clear in another thread, it is probably fear of dissapointing my family more than anything that prevents me from exiting the rat race tomorrow - although the concern we may not have enough saved is a factor as well.

Hanging around here for a couple of weeks, it does seem I am afflicted from the "one more year" syndrome.