[Edit - I selected the wrong username SMH]
@Metalcat -- (Sorry for the slow reply!!) Holy smokes, I sincerely hope your situation is temporary. I got a chuckle out of the "what the actual fuck" part too. Prior to this post I was planning on giving notice on the 17th. I am now thinking of giving notice on the 13th instead. I have Wednesday - Friday off this week (pesky rollover PTO that expires so I gotta use it). I'm planning on using this time off to test drive my future routine without a soul sucking day job and see how I feel about it. I have a strong feeling that by the time next Monday rolls around, I won't want to endure another work week before giving my notice. Conveniently, I have a meeting with my boss Monday morning so I might as well swallow the toad and let the cards fall.
The sad thing* (for them) is, had they given me a $10k raise and/or the promotion I would have felt valued, been extra motivated, and probably been a happy camper for the foreseeable future. Even if they magically come up with funds to persuade me to stay, I won't unless it is something ridiculous like going from my $100k-ish salary to $150k+. Even then, I'm not sure how long I'd stick it out.
Currently the plan is to be done and gone by March so they'd get 2-3 weeks notice.
@Smokystache -- Thanks for sharing, and for the suggesting I add 'How its going?' to the questions. It definitely sounds like you were being nudged towards the edge of a cliff -- and critical mass was the point where your expenses outgrew your income.
Cheapest ACA plan is around $470 for us. My employer takes $159 every two weeks from my paycheck for a low use HSA plan -- so about $318 per month depending on how many paychecks hit in a given month. It is not that much more. Dental and vision for the two of us costs another $25 per paycheck. I think the cheapest ACA dental plan is roughly the same cost.
I think we'll be in the same boat as you for #3. We've been working on getting my spouse's private practice (teletherapy) up and running. She's working for an employer that charges $200 per session and pays her ~$50. She's going to be charging $120/session for clients she's bringing with her, and $150 for new clients (we'll be setting aside 25% of that for taxes). She's also not accepting insurance. Her employer is allowing her to reduce her caseload and go part-time as she ramps up the private practice. It will go live in the next couple of weeks. So, we'll take an income hit as I lose my firehose of cash, but as she transitions to her own business she will basically double her income after taxes without having to work extra hours. All along the way we will be able to maintain our current spend levels without any adjustments aside from investing less or extra mortgage payments. **
Along the way, I plan on ramping up my side hustle. I project that income to cover 40-75% of our monthly expenses (sorta seasonal). In the short term I'm backburnering my arbitrary goals to pay off the house faster or hit the $1MM NW (currently hovering around $905k), but depending on the market we might hit it in the next 12-18 months regardless. Most importantly I think it'll also be amazing to be able to take the pressure off and just live for a while.
Congrats on your new situation. It sounds pretty epic!
*Now they're on track to being massively understaffed and having to pay 1.5-2x my salary to replace me and get the new person up to speed... or whatever the average cost to replace a competent employee with subject matter expertise is. That could take 6+ months, all while burdening and burning out their existing team at a higher pace than currently. Honestly I think a $50k salary increase is a bargain for avoiding that.
**$3-3.5k per month in spending (including mortgage payments). That will go to $3.5-$4k with paying for ACA health insurance. My spouse brings in at least $4k per month from her main job and another $750+ net from her side hustle. In theory we would still be able to set aside $500-$1,000 per month for investments, extra mortgage, or high yield savings (currently getting 3.8% from Personal Capital Cash).