Race from $2M to $4M...and Beyond!

[BeanCounter]

I’m pretty sure this job will have a hard time with my resignation. I’ve been a SME there for eight years. In some instances I know where the bodies are hidden. I can name at least three things off the top of my head that nobody else knows how to do. This gives me a lot of anxiety.

I was following until you got to that last sentence.  Why?   Will people die if they do this wrong?   Will people get maimed?   Will a city lose electrical power or get flooded out if they do these tasks wrong?   Will it affect your net worth?

Because if the downside is a corporation - a legal body that has no soul - will just make less money, simply don't give a damn.   

If the organization does good things for people and you believe in its mission, then go the extra mile because of its mission.

I agree completely with SwordGuy.  If you are the only one that can do certain things, they have run their organization poorly.  There should be no bodies.  Don't make their problem your problem.  And,......he is right corporations may be legally defined as people, but have no soul, no compassion and no remorse for their actions.

I think it's very generous of you to give so much notice.  In my experience, the company will do little or nothing until the last minute anyway and then they will spin furiously trying to get you to stay longer or trying to find someone capable of replacing you.  You might consider offering them consulting services at an extremely obscene hourly rate (with a half day minimum so you don't waste your time traveling for a one-hour meeting) to help with any knowledge transfer.   This will alleviate your anxiety and will motivate the company to get on the ball.  You may even find that you enjoy keeping a toe in the water. 
By the way, my business rates started getting high when I had business opportunities that I didn't want.  I had a hard time saying no, so I just started throwing rates are that I hoped the future clients would balk at.  They didn't blink and all of a sudden, I became very well-paid.

This is something I've actually been thinking about. I will talk to my boss tomorrow in our regular one on one. I was considering maybe telling him I'm willing to stay on full time (remote) until Aug 14th. But could be willing to work part time until end of Dec or Jan to help transition the budget and close the year. I think it could be beneficial to everyone.

I still think that I probably should work part time. Being only 43 and having young kids, combined with market instability and my husbands job not really totally stable (struggling University), it seems prudent to keep up my career. I don't think I want to work part time, long term at my current job. I actually think I want to move to seasonal tax work, which won't pay as well by a long stretch, but offers more flexibility (summers off).

[markbike528CBX]

I’m pretty sure this job will have a hard time with my resignation. I’ve been a SME there for eight years. In some instances I know where the bodies are hidden. I can name at least three things off the top of my head that nobody else knows how to do. This gives me a lot of anxiety.

I was following until you got to that last sentence.  Why?   Will people die if they do this wrong?   Will people get maimed?   Will a city lose electrical power or get flooded out if they do these tasks wrong?   Will it affect your net worth?

Because if the downside is a corporation - a legal body that has no soul - will just make less money, simply don't give a damn.   

If the organization does good things for people and you believe in its mission, then go the extra mile because of its mission.

I agree completely with SwordGuy.  If you are the only one that can do certain things, they have run their organization poorly.  There should be no bodies.  Don't make their problem your problem.  And,......he is right corporations may be legally defined as people, but have no soul, no compassion and no remorse for their actions.

I think it's very generous of you to give so much notice.  In my experience, the company will do little or nothing until the last minute anyway and then they will spin furiously trying to get you to stay longer or trying to find someone capable of replacing you.  You might consider offering them consulting services at an extremely obscene hourly rate (with a half day minimum so you don't waste your time traveling for a one-hour meeting) to help with any knowledge transfer.   This will alleviate your anxiety and will motivate the company to get on the ball.  You may even find that you enjoy keeping a toe in the water. 
By the way, my business rates started getting high when I had business opportunities that I didn't want.  I had a hard time saying no, so I just started throwing rates are that I hoped the future clients would balk at.  They didn't blink and all of a sudden, I became very well-paid.

This is something I've actually been thinking about. I will talk to my boss tomorrow in our regular one on one. I was considering maybe telling him I'm willing to stay on full time (remote) until Aug 14th. But could be willing to work part time until end of Dec or Jan to help transition the budget and close the year. I think it could be beneficial to everyone.

I still think that I probably should work part time. Being only 43 and having young kids, combined with market instability and my husbands job not really totally stable (struggling University), it seems prudent to keep up my career. I don't think I want to work part time, long term at my current job. I actually think I want to move to seasonal tax work, which won't pay as well by a long stretch, but offers more flexibility (summers off).

I gently remind you that during the apocalypse(s) that tax season might be extended to July 15th or later.

[AdrianC]

By the way, my business rates started getting high when I had business opportunities that I didn't want.  I had a hard time saying no, so I just started throwing rates are that I hoped the future clients would balk at.  They didn't blink and all of a sudden, I became very well-paid.

I did same. Some clients eventually found alternatives, which was totally fine with me. Average of 14 hours billable per week this year, which is still more than I want. I raised my rate again and have gotten better at saying no.

[Car Jack]

I once left a job where I was the company's lead technologist and designed the next generation power system for their new product.  All kinds of cool things done.  I left to work for an IC company and would have my company as a customer, so to make absolutely sure they'd have plenty of time, I gave them 7 weeks notice.  The appeared to start looking for a replacement a week before my leave time, hired someone (who both my manager and I had worked with in the past) and brought them in 3 days before I left.

My take is that you can give a year's notice, and companies aren't going to look for anyone until you're turning in your badge and taking your box of personal stuff out to your car.

[BeanCounter]

Well I did it. And I cried. That sucked. I couldn't help it. It felt scary and sad all at the same time. I've had a great career there. And an awesome boss.
My boss was completely dumbstruck. Long silences. He did not know what to say. He asked if I had something else. I told him no. He immediately went to "would you be interested in part time".
So we agreed that we would think about what that would look like and talk about it next week. Any advice?
right now my list would be-
-clearly defined role (or as clearly as possible) otherwise I think I'll struggle to prioritize- does this make sense or matter? maybe I need to be flexible
-up to 20 hours per week so I could go back on my husbands insurance- school hours only
-summer weeks would be at least partially remote- because 12 year old is either too old for many camps and/or hates them

I'm not sure they'll go for any of that. But times are a changing and I do have negotiating power.

[tooqk4u22]

Well I did it. And I cried.
.
.
.
I'm not sure they'll go for any of that. But times are a changing and I do have negotiating power.

All you can do is ask and if it doesn't work for you or isn't a fit for them then oh well, you already left. 

When I resigned last June (shit, two days ago was my 1st anniversary of not working) they asked me if there was anything they could do, I said maybe...I asked for the summer off but I would still maintain client contact (just wouldn't do any BS work), then work remotely/part time after summer with less base pay but same goals and incentive comp - basically I wanted to come and go and do as I please and didn't want to be chained to a desk or computer or office but was more than happy/confident in having same goals as long as I got paid for it.  Figured I would get freedom and mostly do the stuff I liked about the job and they would get cost savings combined with similar revenue expectations. 

Needless to say they didn't go for it....something about we are a large organization and not structured to permit such arrangements....blah blah blah.   I think my response was something along the lines of "Thanks for validating my decision!"

[pecunia]

Well I did it. And I cried.

- SNIP -

Let us know after this feeling of initial confusion is being replaced with a calm relaxed feeling over the next few weeks.  Seems like it happens to most people who make entries here.

[Exflyboy]

@BeanCounter If you are anything like me you will spend several sleepless nights going over your spending budget, including waking with a start at 3am convinced you'll run out of money.

For me, feeling normal about not going to work took about 9 months..

This is a major life change and getting used to it will take time.

Good for you.. I am proud of you for taking the leap..:)

[Bateaux]

@BeanCounter If you are anything like me you will spend several sleepless nights going over your spending budget, including waking with a start at 3am convinced you'll run out of money.

For me, not going to work took about 9 months..

This is a major life change and getting used to it will take time.

Good for you.. I am proud of you for taking the leap..:)

I already have panic attacks and I'm still working.  My wish of  a recession prior to retirement has come true.  I'm hearing we entered recession in February.  I feel we're in a bear market, beside the rapid debt fueled recovery.  Normally recessions last 12 to 18 months.  The lower end of that range would mesh perfectly with my hopeful timeline. 

[Much Fishing to Do]

By the way, my business rates started getting high when I had business opportunities that I didn't want.  I had a hard time saying no, so I just started throwing rates are that I hoped the future clients would balk at.  They didn't blink and all of a sudden, I became very well-paid.

I did same. Some clients eventually found alternatives, which was totally fine with me. Average of 14 hours billable per week this year, which is still more than I want. I raised my rate again and have gotten better at saying no.

I think that is the absolutely perfect way to fade into FIRE and, except for those that work for huge inflexible companies and there's no viable no-risk consulting alternative, should be the plan.  I think we all agree that: 1) there is an amount that is 'most probably' enough, 2) more is better, 3) the amount of time you;re willing to trade for that extra $1 once you've moved past enough goes down quickly the greater the stache grows past enough and the years remaining shrink.  It has always shocked me how much variance there is in what companies will pay for fixed small projects due to hundreds of different variables.  Of course I think there's a natural tendency to underprice one's self b/c when I'm not pricing to expectation I hear about it instantly if my price is to high, but on the flip side no one ever says "what a great deal, I would have paid you twice that".  If you keep increasing your rates instead of saying no you may find you could work 3 hours/wk and make half of what you make currently at 14.  Eventually you'll price out of the final hour of work and suddenly realize you're FIREd ;-)

[JoJoP]

Well I did it. And I cried. That sucked. I couldn't help it. It felt scary and sad all at the same time. I've had a great career there. And an awesome boss.
My boss was completely dumbstruck. Long silences. He did not know what to say. He asked if I had something else. I told him no. He immediately went to "would you be interested in part time".
So we agreed that we would think about what that would look like and talk about it next week. Any advice?
right now my list would be-
-clearly defined role (or as clearly as possible) otherwise I think I'll struggle to prioritize- does this make sense or matter? maybe I need to be flexible
-up to 20 hours per week so I could go back on my husbands insurance- school hours only
-summer weeks would be at least partially remote- because 12 year old is either too old for many camps and/or hates them

I'm not sure they'll go for any of that. But times are a changing and I do have negotiating power.

Wow, I feel like I was there with you!  My advice is don't agree to anything that you haven't had time to think about for a day or two. 

[Buffaloski Boris]

Well I did it. And I cried. That sucked. I couldn't help it. It felt scary and sad all at the same time. I've had a great career there. And an awesome boss.
My boss was completely dumbstruck. Long silences. He did not know what to say. He asked if I had something else. I told him no. He immediately went to "would you be interested in part time".
So we agreed that we would think about what that would look like and talk about it next week. Any advice?
right now my list would be-
-clearly defined role (or as clearly as possible) otherwise I think I'll struggle to prioritize- does this make sense or matter? maybe I need to be flexible
-up to 20 hours per week so I could go back on my husbands insurance- school hours only
-summer weeks would be at least partially remote- because 12 year old is either too old for many camps and/or hates them

I'm not sure they'll go for any of that. But times are a changing and I do have negotiating power.

You done good. 

[Exflyboy]

@BeanCounter If you are anything like me you will spend several sleepless nights going over your spending budget, including waking with a start at 3am convinced you'll run out of money.

For me, not going to work took about 9 months..

This is a major life change and getting used to it will take time.

Good for you.. I am proud of you for taking the leap..:)

I already have panic attacks and I'm still working.  My wish of  a recession prior to retirement has come true.  I'm hearing we entered recession in February.  I feel we're in a bear market, beside the rapid debt fueled recovery.  Normally recessions last 12 to 18 months.  The lower end of that range would mesh perfectly with my hopeful timeline.

I think secretly we all say we'd like to see a nice 50% pull back in the market so we can go 95% stocks and ride the subsequent bull.

If I an honest though, I felt pretty sick at the 35% downturn, so honestly the nice relentless trickle upwards feels a lot better.

But markets are what they are and I suspect the $200k I pulled out of stocks into cash just recently will end up costing me $$ rather than if I had just left everything the hell alone and let my asset allocation do its thing.

Cst La Vie.

[Bateaux]

@BeanCounter If you are anything like me you will spend several sleepless nights going over your spending budget, including waking with a start at 3am convinced you'll run out of money.

For me, not going to work took about 9 months..

This is a major life change and getting used to it will take time.

Good for you.. I am proud of you for taking the leap..:)

I already have panic attacks and I'm still working.  My wish of  a recession prior to retirement has come true.  I'm hearing we entered recession in February.  I feel we're in a bear market, beside the rapid debt fueled recovery.  Normally recessions last 12 to 18 months.  The lower end of that range would mesh perfectly with my hopeful timeline.

I think secretly we all say we'd like to see a nice 50% pull back in the market so we can go 95% stocks and ride the subsequent bull.

If I an honest though, I felt pretty sick at the 35% downturn, so honestly the nice relentless trickle upwards feels a lot better.

But markets are what they are and I suspect the $200k I pulled out of stocks into cash just recently will end up costing me $$ rather than if I had just left everything the hell alone and let my asset allocation do its thing.

Cst La Vie.

This dip period and rapid recovery doesn't count.  The bear ain't finished.  The second dip will come and hopefully a nice true recovery.  I'd prefer things move slower and DCA any purchases and not have to attempt market timing. 

[itchyfeet]

I already have panic attacks and I'm still working.

I hear you. I just can’t get comfortable with resigning in just 2 more months. So much wasted mental energy questioning whether we have enough. It’s draining.

DW is applying a lot of pressure on me to FIRE. She is ready to return to Australia and doesn’t like her boss. Also, as I have mentioned her mother is not well.

I think without DWs pressure I’d definitely OMY or even 2MY.

[Buffaloski Boris]

I already have panic attacks and I'm still working.

I hear you. I just can’t get comfortable with resigning in just 2 more months. So much wasted mental energy questioning whether we have enough. It’s draining.

DW is applying a lot of pressure on me to FIRE. She is ready to return to Australia and doesn’t like her boss. Also, as I have mentioned her mother is not well.

I think without DWs pressure I’d definitely OMY or even 2MY.

I’m thinking that a lot of the trepidation about retiring is caused by the overall shift from defined benefit to defined contribution retirement plans. Arguably, those assembled here are very much on the winning side of the ledger. Yet there’s still the worry and concern.

[LightTripper]

Congratulations @BeanCounter !  I think it's perfectly natural to get emotional.  It's a big change and a lot to process all at once.  Sounds like it went very well though, and hopefully you can have a nice glide path out, if that's what you want.

I am another one who is anxious about actually pulling the plug.  I think I've already mentally postponed from January (when DS starts full time nursery) to Easter 2021.  A mix of factors: partly because of covid (DS may well not actually be at nursery much then or in the run up, and my big work project is now likely to last at least into January and possibly February 2021), partly because (due to Covid) it seems unreasonable to put my nanny out of work in January (especially as I know she'd like to take a break and go travelling before the next job: which I'm hoping would be possible by Easter next year, but not sure about middle of winter).  But I'm sure there is some OMYitis in there too.

Funnily financial issues seem very far down my mental concerns about retirement.  Which I guess is reasonable given my stash.  But again I wouldn't rule out that those concerns pop up to bite me when I actually get there.

I have now joined the 2021 retirement thread though, so hoping that (and this one, and my journal) will be full of people helping keep me to timetable!  I really am jaded now, and not doing my best work.  Adrenaline, duty and occasional interest  spur me on to "good enough" most of the time, but it's no way to live long term.  Time to move on!

[pecunia]

The health care thing was and still is to some extent a concern about leaving.  I think the decision may be easier for those not living in the US.  You can make adjustments for most anything else, but in the health area they have you where it really hurts.

[LightTripper]

Yes, definitely feel relieved not to have that to think about also.

I mean, I have no idea what will happen to our health system.  There are always fears it may get privatised and with a long retirement anything can happen.  But hopefully slowly enough that I'd have time to adjust and find solutions (I mean, hopefully it won't happen at all ... but always good to be prepared).

[bluebelle]

to address the skyrocketing debt that governments are incurring during covid 19 to buy votes help those out of work, they will change many of the benefits those over 65 receive as well as jack up taxes even higher.   Currently in Ontario, those 65 and over have much of their prescription costs covered.   I worry that the government will start means testing based on assets rather than taxable income or even start pulling back on health benefits.  (Canada's "free health care", isn't free and it doesn't cover dental, vision, hearing, prescriptions for those under 65)

[EscapeVelocity2020]

I'm guessing our neighbors think we're 'just getting by'.  I bought a middle class car new last weekend (a 2020 Corolla SE for $25k cash) and (assuming the car is now worth $0) my net worth is higher already!  Maybe I should've bought something fancier?  Maybe I'm not actually middle class like I think I am, since I seem to be winning without even trying anymore?  Or maybe the stock market is bonkers, that could be it too...
...

Kinda tempted to take the extra NW sooner rather than later and buy a 2021 Supra...

I owned a used Supra in my late 20's and mentioned more than once that I'd love if Toyota brought it back...

[Bateaux]

I'm going to buy a vehicle soon.  I haven't decided new or used yet.  Thinking really good used.  My car and truck are 12 years old and higher mileage.  The 2008 Accord is 218000 the 2008 F250 has 156000.  Truck parked most if the time and hope to keep 4 or 5 more years.  Replacement is planned for the Accord.  Getting the ducks lined up  for the endgame.

[Dancin'Dog]

I'm going to buy a vehicle soon.  I haven't decided new or used yet.  Thinking really good used.  My car and truck are 12 years old and higher mileage.  The 2008 Accord is 218000 the 2008 F250 has 156000.  Truck parked most if the time and hope to keep 4 or 5 more years.  Replacement is planned for the Accord.  Getting the ducks lined up  for the endgame.

I was car shopping a couple of years ago & didn't have a clue about what I really wanted.  I had "4 doors, understated, but comfortable, and peppy" in mind.  I went to a CarMax and looked at a few dozen brands & models in under an hour.  Thought I wanted a Lexus until sitting in a few of them.  I realized that I preferred the German interiors styling & feel.  The Audi seemed to be the most understated of the German cars & I really liked the ride an handling.  I tested a lot of different brands & models.  The Porsche Panamera & the Audi A8 4.0T were more pricey than I wanted to spend, but I figured I should check them out just to be sure.  The Panamera was too cramped for a 4-door.  The Audi A8 was "perfect" ,but just a bit more than I wanted to spend & I was afraid the 450 Hp V-8 would get me in trouble.  It was scary fast. 


I'm glad that I tested them.  It's sort of hard to choose when you can afford whatever you want. 


Maybe you should go boat shopping first?  Because there are no cheap boats.  That will make it easier to keep from blowing too much on a car. 

[Bateaux]

I'm going to buy a vehicle soon.  I haven't decided new or used yet.  Thinking really good used.  My car and truck are 12 years old and higher mileage.  The 2008 Accord is 218000 the 2008 F250 has 156000.  Truck parked most if the time and hope to keep 4 or 5 more years.  Replacement is planned for the Accord.  Getting the ducks lined up  for the endgame.


I'm glad that I tested them.  It's sort of hard to choose when you can afford whatever you want. 


Maybe you should go boat shopping first?  Because there are no cheap boats.  That will make it easier to keep from blowing too much on a car.

I just went though and survived a two week period of boat fetish fury.  Glad I didn't act on desire.
The boat is affordable just like the car.  Yep, it does cause frustrations when you can buy most
anything you want, but are cursed with frugality.

[Bateaux]

Also when younger my car shopping lasted no more than a day or two.  I've been car shopping since December.  I'm not sure I'll purchase before the coming December.  Having the ability to buy what you want and when you want takes away the whole psychological thrill of making a large purchase.  Hell two years ago I bought a house I'd never seen.  When risking 250 thousand dollars won't ruin you, even something crazy as that doesn't excite you much.

[2Birds1Stone]

Psychologists have proven that the anticipation of such a purchase is usually much more enjoyable than actual ownership, so buyer beware :)

Sent from my SM-N950U using Tapatalk

[ixtap]

I'm going to buy a vehicle soon.  I haven't decided new or used yet.  Thinking really good used.  My car and truck are 12 years old and higher mileage.  The 2008 Accord is 218000 the 2008 F250 has 156000.  Truck parked most if the time and hope to keep 4 or 5 more years.  Replacement is planned for the Accord.  Getting the ducks lined up  for the endgame.


I'm glad that I tested them.  It's sort of hard to choose when you can afford whatever you want. 


Maybe you should go boat shopping first?  Because there are no cheap boats.  That will make it easier to keep from blowing too much on a car.

I just went though and survived a two week period of boat fetish fury.  Glad I didn't act on desire.
The boat is affordable just like the car.  Yep, it does cause frustrations when you can buy most
anything you want, but are cursed with frugality.

It was somehow more fun to window shop before we had the ability to cash flow toys. I don't think I have looked at a single RV since we looked that nice trailer and realized that it would not be a problem, but we still weren't inclined to pay for storage. As I recall, we bought tacos that day, instead. If we had spent all that money on a trailer, we surely would have eaten at home.

Still planning to go play with my boat tomorrow, though. I have definitely enjoyed the actual ownership of my boat much more than I did the purchase process.

[Dancin'Dog]

Psychologists have proven that the anticipation of such a purchase is usually much more enjoyable than actual ownership, so buyer beware :)

Sent from my SM-N950U using Tapatalk

I'm that's often true.  But, you can't drive "anticipation".  ;) 

[EscapeVelocity2020]

Psychologists have proven that the anticipation of such a purchase is usually much more enjoyable than actual ownership, so buyer beware :)

Although I totally agree with this, I'm still really enjoying the Corolla we bought a whole heck of a lot.  It helps that we needed a 3rd car logistically, but it is also just really great to have all the new stuff like auto pilot on the highway and a good back-up camera.  I wish all cars automatically got upgraded when new cars figured out things that were essential...

[Buffaloski Boris]

Psychologists have proven that the anticipation of such a purchase is usually much more enjoyable than actual ownership, so buyer beware :)

Although I totally agree with this, I'm still really enjoying the Corolla we bought a whole heck of a lot.  It helps that we needed a 3rd car logistically, but it is also just really great to have all the new stuff like auto pilot on the highway and a good back-up camera.  I wish all cars automatically got upgraded when new cars figured out things that were essential...

The simple pleasure of driving a beat-to-hell truck or SUV is vastly underrated.

[2Birds1Stone]

Psychologists have proven that the anticipation of such a purchase is usually much more enjoyable than actual ownership, so buyer beware :)

Although I totally agree with this, I'm still really enjoying the Corolla we bought a whole heck of a lot.  It helps that we needed a 3rd car logistically, but it is also just really great to have all the new stuff like auto pilot on the highway and a good back-up camera.  I wish all cars automatically got upgraded when new cars figured out things that were essential...

The simple pleasure of driving a beat-to-hell truck or SUV is vastly underrated.

I agree, my wife and I shared a 2004 Nissan Sentra for 5 months before leaving for our FIRE honeymoon, we sold it for $800.....zero stress about that car.

Sent from my SM-N950U using Tapatalk

[BeanCounter]

Thanks for all the support guys.
I felt mostly sad for all of Friday but that feeling subsided over the weekend. Then Monday I started telling a few select people at work and felt a little sad again. My boss spoke with his boss and they decided that there just isn't a part time solution that would be mutually beneficial to both me and the company. Honestly I agree, and am glad I don't have to make the choice. So that's done. We just need to work out a transition plan.

Surprisingly I don't feel worried about the money.(at least for the moment, if/when there is a pull back I may come here and cry in my beer and fret about having to eat cat food someday) And I'm only slightly worried about insurance for the future, but since DH will be working for at least the next two years, we can kick that can down the road. I think I've made peace with the fact that we have planned the very best we could and that there is no way to predict everything. There will always be uncertainty and if I'm going to try and wait all of those out then I'll just be working forever. And I very much feel that waiting to retire until my kids are grown would be a bigger risk.

I think I'm feeling more saddest around walking away from a career that I worked very, very hard to build. And I'm recognizing that there will always be some part of me that misses the problem solving and feeling of satisfaction when I've done a good job with something. I have some worry that I may figure out later that I NEED my job back and I won't be able to get a cushy director or VP level position. And then that feeling leads me back to feeling like I'm throwing away my career.

And then I just remind myself that those are just thoughts and feelings and none of them are actually TRUE. We don't know what the future will bring. But we've done our best.
Also, meeting with my financial advisor was very reassuring. He was very confident we'd be just fine, even in a pull back or bumpy fall. He just kept telling me that having more time with family is what we'd worked and planned for and it was time to do it.

[DavidAnnArbor]

Well I sold about 1/2 million in equities today. The stock market really has no bearing on reality.
And even though I thought I would never time the market, it just doesn't make sense for the market to be going up now.
And I might as well take advantage of the situation, and wait for stocks to fall apart again before buying back in.

[Buffaloski Boris]

Well I sold about 1/2 million in equities today. The stock market really has no bearing on reality.
And even though I thought I would never time the market, it just doesn't make sense for the market to be going up now.
And I might as well take advantage of the situation, and wait for stocks to fall apart again before buying back in.

Well crap. You know what that means?

You’ll have to give up your secret decoder ring.

[FiveSigmas]

Surprisingly I don't feel worried about the money.(at least for the moment, if/when there is a pull back I may come here and cry in my beer and fret about having to eat cat food someday)

I dunno.. might not be so bad. Cat food’s gotten pretty fancy these days.

Glad you’re getting some closure with your employer. It’d be much worse if they tried to string you along for months.

[Taran Wanderer]

Well I sold about 1/2 million in equities today. The stock market really has no bearing on reality.
And even though I thought I would never time the market, it just doesn't make sense for the market to be going up now.
And I might as well take advantage of the situation, and wait for stocks to fall apart again before buying back in.

Well crap. You know what that means?

You’ll have to give up your secret decoder ring.

If y'all haven't noticed, Buffalo Boris is not a fan of market timing...

;-)

[itchyfeet]

I work for a mega Corp and we are being asked by management to downgrade our results in the name of Coronavirus and to put money away (provisions/ deferrals etc) for a future time when the company won’t have a good excuse for bad results. Even at lower levels of the Organisation managers know there won’t be bonuses paid for 2020 so are not motivated to report good results this year, again devising schemes to defer profits to 2021/2022.

I can’t imagine my company is alone on this.

The June reporting season will be putrid, but will pave the way for stronger more consistent results in coming years as many companies exit COVID with large provisions squirreled away.

It will be interesting to see how the market reacts to the bad results that will come out in July/ August.

[markbike528CBX]

Well I sold about 1/2 million in equities today. The stock market really has no bearing on reality.
And even though I thought I would never time the market, it just doesn't make sense for the market to be going up now.
And I might as well take advantage of the situation, and wait for stocks to fall apart again before buying back in.

Well crap. You know what that means?

You’ll have to give up your secret decoder ring.

If y'all haven't noticed, Buffalo Boris is not a fan of market timing...

;-)

So which year is this most like?  Sorry, I forgot that THIS IS UNPRECEDENTED !!!!!!!!

from https://forum.mrmoneymustache.com/investor-alley/would-you-106836/msg2426621/#msg2426621

1/2013  [SP500 = 1462]
https://forum.mrmoneymustache.com/investor-alley/is-now-a-bad-time-to-invest-in-stock-index-funds/
5/2013  [1583]
https://forum.mrmoneymustache.com/investor-alley/starting-today!/
https://forum.mrmoneymustache.com/investor-alley/$80k-sitting-in-cash-bc-scared-of-high-flying-stock-mkt-punch-me/
10/2013  [1695]
https://forum.mrmoneymustache.com/investor-alley/stock-market-expensive-now-alternatives/
5/2014  [1884]
https://forum.mrmoneymustache.com/investor-alley/stock-market-is-high-am-i-too-late/
https://forum.mrmoneymustache.com/investor-alley/is-the-stock-market-too-expensive-to-get-back-in/
7/2014  [1973]
https://forum.mrmoneymustache.com/investor-alley/current-market-has-me-scared-to-invest/
9/2014  [2002]
https://forum.mrmoneymustache.com/investor-alley/is-it-a-good-time-to-invest-new-money/
10/2014  [1946]
https://forum.mrmoneymustache.com/ask-a-mustachian/stock-market-would-you-buy-now-or-wait/
1/2015  [2058]
https://forum.mrmoneymustache.com/investor-alley/stock-market-should-i-be-concerned/
3/2015  [2117]
https://forum.mrmoneymustache.com/investor-alley/talk-me-out-of-timing-the-australian-market/
12/2015  [2103]
https://forum.mrmoneymustache.com/ask-a-mustachian/where-to-put-a-large-windfall-with-stock-market-near-all-time-highs/
1/2016  [2013]
https://forum.mrmoneymustache.com/investor-alley/about-to-sell-everything-talk-me-off-the-ledge-(or-push-me-off)-please!/
2/2017  [2280]
https://forum.mrmoneymustache.com/investor-alley/does-anyone-think-we-are-in-a-bubble/
4/2017  [2359]
https://forum.mrmoneymustache.com/investor-alley/top-is-in/
6/2017  [2430]
https://forum.mrmoneymustache.com/continue-the-blog-conversation/recession-coming/
8/2017  [2476]
https://forum.mrmoneymustache.com/investor-alley/getting-scared-of-stock-market/
1/2018  [2696]
https://forum.mrmoneymustache.com/investor-alley/nervous-about-the-market/
3/2018  [2678]
https://forum.mrmoneymustache.com/investor-alley/when-would-you-get-back-in/
5/2018  [2655]
https://forum.mrmoneymustache.com/investor-alley/investing-in-a-bull-market/
6/2018  [2735]
https://forum.mrmoneymustache.com/investor-alley/moving-to-cash-market-timing-can%27t-believe-it/
10/2018  [2925]
https://forum.mrmoneymustache.com/welcome-to-the-forum/sell-index-funds-now-for-down-payment-during-recession/
2/2019  [2707]
https://forum.mrmoneymustache.com/investor-alley/welp-i'm-going-to-take-a-stab-at-timing-the-market/
4/2019  [2867]
https://forum.mrmoneymustache.com/investor-alley/buy-vtsax-now-while-its-this-high-or-wait-till-a-drop/
https://forum.mrmoneymustache.com/investor-alley/how-concerned-are-you-about-the-everything-bubble/
5/2019  [2924]
https://forum.mrmoneymustache.com/ask-a-mustachian/scared-of-investing-in-the-stock-market-now/
6/2019  [2890]
https://forum.mrmoneymustache.com/uk-tax-discussion/global-index-tracker-is-so-high!-do-i-just-keep-putting-my-money-into-it-anyway/
7/2019 [3026]
https://forum.mrmoneymustache.com/investor-alley/would-you-106836/

Miscellaneous
https://forum.mrmoneymustache.com/investor-alley/%27but-right-now-the-market-is-at-an-all-time-high-%27/
https://forum.mrmoneymustache.com/investor-alley/the-great-market-crash-of-2016!/
https://forum.mrmoneymustache.com/investor-alley/how-to-deal-with-losing-$117k-in-stock-market/
https://forum.mrmoneymustache.com/investor-alley/anyone-else-feeling-depressed-about-global-equities-10-year-outlook/
https://forum.mrmoneymustache.com/investor-alley/stocks-will-only-return-4-annually-for-next-decade-john-bogle/

yeah, there are always reasons......

Disclosure: markbike528CBX took all of $10,000 out of VTSAX at 74.89 to replenish the cash stash ($40K for current year expenses). 
Other than that, markbike528CBX retains 95+% equities holdings.
markbeck528CBX has never used 3d person before, what fun!

[2Birds1Stone]

VTI is going todamoon.

At least the rich people in this cohort can afford to miss on on the sweet gains and let inflation erode their 'stache.

[2sk22]

The June reporting season will be putrid, but will pave the way for stronger more consistent results in coming years as many companies exit COVID with large provisions squirreled away.

It will be interesting to see how the market reacts to the bad results that will come out in July/ August.

I used to think that accounting was a binary yes/no kind of activity. Its only in recent years that I have come to realize how much leeway there is in interpreting various numbers :-)

[Buffaloski Boris]

VTI is going todamoon.

At least the rich people in this cohort can afford to miss on on the sweet gains and let inflation erode their 'stache.

Inflation? What’s that? :-p

[Buffaloski Boris]

Well I sold about 1/2 million in equities today. The stock market really has no bearing on reality.
And even though I thought I would never time the market, it just doesn't make sense for the market to be going up now.
And I might as well take advantage of the situation, and wait for stocks to fall apart again before buying back in.

Well crap. You know what that means?

You’ll have to give up your secret decoder ring.

If y'all haven't noticed, Buffalo Boris is not a fan of market timing...

;-)

Moi?  Not Once have I engaged in market timing!

(to my all too frequent chagrin)

[pecunia]

Looks like it is slowly plodding back up.

https://www.google.com/search?sxsrf=ALeKk02SDTpvRs7kHnjGFmZ-VWn45ks-8Q%3A1592407478410&ei=tjXqXrC-GMS0swWk8axo&q=dow+jones+last+six+months&oq=dow+jones+last+six+months&gs_lcp=CgZwc3ktYWIQAzIHCAAQRhD6ATIGCAAQFhAeMgYIABAWEB4yBggAEBYQHjIGCAAQFhAeMgYIABAWEB46BwgAEEcQsAM6BwgjECcQnQI6BQgAEIMBOgUIABCxAzoCCAA6CggAEIMBEBQQhwI6BAgjECc6CAgAEIMBEJECUP2RCFjcwwhgjscIaAFwAHgAgAHTAYgB4xGSAQYyLjE3LjGYAQCgAQGqAQdnd3Mtd2l6&sclient=psy-ab&ved=0ahUKEwiw8dmQlInqAhVE2qwKHaQ4Cw0Q4dUDCAs&uact=5

The more things change-The more things stay the same.

[tooqk4u22]

Psychologists have proven that the anticipation of such a purchase is usually much more enjoyable than actual ownership, so buyer beware :)

Although I totally agree with this, I'm still really enjoying the Corolla we bought a whole heck of a lot.  It helps that we needed a 3rd car logistically, but it is also just really great to have all the new stuff like auto pilot on the highway and a good back-up camera.  I wish all cars automatically got upgraded when new cars figured out things that were essential...

The simple pleasure of driving a beat-to-hell truck or SUV is vastly underrated.

I agree, my wife and I shared a 2004 Nissan Sentra for 5 months before leaving for our FIRE honeymoon, we sold it for $800.....zero stress about that car.

Sent from my SM-N950U using Tapatalk

+1  I have a '06 SUV that I bought new when I was still a bit silly minded.   People ask me all the time when I am going to get a new car (in a fairly upper-middle to affluent area).  Well I only just broke 100k miles, it runs good and does what I need it to plus it doesn't bother me one bit when my careless kids ride their bikes past it to get to/from garage and inevitably scuff or scratch it. 

Years ago I thought about selling it to get something more fuel efficient but the value vs cost to get something else combined with not driving that much wasn't worth it (and since FIRE my milage has gone even lower, and nonexistent during covid).  And I like my vehicle and know whats what about it. 

[RWD]

from https://forum.mrmoneymustache.com/investor-alley/would-you-106836/msg2426621/#msg2426621

There have been quite a few threads since that one too. Latest update:
https://forum.mrmoneymustache.com/investor-alley/should-i-move-my-bond-etf-to-money-market-fund-or-cd/msg2646595/#msg2646595

[MaybeBabyMustache]

The housing market is slowly dropping in our neighborhood (bay area), so we've gone below $4m in net worth. It will be really interesting to see how the longer term impact on WFH plays out in bay area real estate prices. We've paid off more than half of our house value (down payment + accelerated mortgage pay down), because the real estate market here makes me nervous for the long term

[Car Jack]

+1  I have a '06 SUV that I bought new when I was still a bit silly minded.   People ask me all the time when I am going to get a new car (in a fairly upper-middle to affluent area).  Well I only just broke 100k miles, it runs good and does what I need it to plus it doesn't bother me one bit when my careless kids ride their bikes past it to get to/from garage and inevitably scuff or scratch it. 

Years ago I thought about selling it to get something more fuel efficient but the value vs cost to get something else combined with not driving that much wasn't worth it (and since FIRE my milage has gone even lower, and nonexistent during covid).  And I like my vehicle and know whats what about it.

I've done the MPG vs cost exercise more times than I can even remember.  It's always resulted in math saying to keep what I've got.  These days, with grocery store points for gas and low gas prices and a decent 35 mpg Subaru Crosstrek, and high electric rates in New England, I have fun going on to Tesla calculation sites and comparing a Model 3 cost per 100 miles to my Crosstrek.  A combination of high electric costs, low gas prices and gas discounts makes the existing ICE car a LOT cheaper per 100 miles than the Tesla, fueled with high priced electric.  And this is just fuel.  The Crosstrek is long ago paid for and maybe worth ten grand at this point.  A new Tesla would be what?  Fourty grand plus 6.25% sales tax plus title and registration and inspection and exise tax?  On top of all that, I've had the short block and valve springs replaced on the Crosstrek at 94k miles and the transmission at 53k miles.  Put in spark plugs and did 3 bad wheel bearings in the last 6 months.  Oh....and since I have a teenager, who got into 2 front end damage accidents, just paid the deductible and now have a car that's repaired and literally looks brand new.  That teen is now driving our 09 Fusion that he hit a trailer with, totaling the car, from just dents and a broken mirror.  I bought it back, which meant at the time that I spent $25 for a mirror at a junkyard, banged out the fender and happily took the $4800 check to the bank (triple what Car Max offered for the car). 

[AdrianC]

By the way, my business rates started getting high when I had business opportunities that I didn't want.  I had a hard time saying no, so I just started throwing rates are that I hoped the future clients would balk at.  They didn't blink and all of a sudden, I became very well-paid.

I did same. Some clients eventually found alternatives, which was totally fine with me. Average of 14 hours billable per week this year, which is still more than I want. I raised my rate again and have gotten better at saying no.

I think that is the absolutely perfect way to fade into FIRE and, except for those that work for huge inflexible companies and there's no viable no-risk consulting alternative, should be the plan. 

I've recommended that to a few people. Want more time off but don't want to completely pull the plug? Ask if you can early-retire and come back as a part time contractor. The company I've done most of my work for has been doing this for many years. It's a win-win. Company keeps some expertise, and only has to pay for it when they need it.

I've been a consultant/contractor/self-employed for most of my career, so for me it's just been a case of taking on less work. And the less I take, I find the less I want to take. I've been in this "transition" phase for a few years, though. Have not yet made a net withdrawal from investments. My receivables are almost nothing now, so that time is a-coming...

[couponvan]

I'm going to give a plug for the Tesla....pun intended. It's a car that keeps getting "updates" almost monthly.  My husband LOVES to play with that car.  Me - I like things that stay the same, so I am still driving my 2012 Pilot that he bought me without asking when I was still driving a 2005 Honda minivan.  The model Y comes out next year, and I KNOW he wants it.  I do worry when my car gets much over 100K miles though since we drive back and forth from VA to IL pretty regularly to visit family. I should probably look into 2 week rental prices vs the cost of a new car.

Bonuses being $0 for next year means he probably won't be able to do any funny Model Y business anyway....

[tooqk4u22]

I'm going to give a plug for the Tesla....pun intended. It's a car that keeps getting "updates" almost monthly.  My husband LOVES to play with that car.  Me - I like things that stay the same, so I am still driving my 2012 Pilot that he bought me without asking when I was still driving a 2005 Honda minivan.  The model Y comes out next year, and I KNOW he wants it.  I do worry when my car gets much over 100K miles though since we drive back and forth from VA to IL pretty regularly to visit family. I should probably look into 2 week rental prices vs the cost of a new car.

Bonuses being $0 for next year means he probably won't be able to do any funny Model Y business anyway....

First, 100k miles is nothing on a honda if its well maintained.  Second, I would guess that a two week rental once a year (even for a big SUV) will probably be mathematically sensible than any new car even a cheapy.