Author Topic: 2021 FIRE Cohort  (Read 353963 times)

JoJo

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Re: 2021 FIRE Cohort
« Reply #900 on: February 26, 2021, 11:36:26 AM »
Due to a trip I have planned in mid-April and the fact I've built up a bunch of time off I haven't taken yet so I don't want to make any announcement until after that trip so I can burn off the time off.  That also buys me some time to see how the vaccine rollout and world opening goes in the next couple months.   I'm moving my date to July 9, at age 48.   Since I'm part time and have already built up so much time off, I only have about 36 more working days between now and July 9.  Will update here when it's official. 

Arbitrage

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Re: 2021 FIRE Cohort
« Reply #901 on: February 26, 2021, 08:16:15 PM »
Another major hurdle overcome - we told the kids of the impending move.  They're handling it like champs!  Some sadness, naturally, but mostly they listened to our reasoning and are finding reasons to be excited.  Much better reactions than we were fearing.

Finding the house is the big problem left.  Stupid crazy sellers' market.  We've toured a couple of houses virtually, but neither was quite right.  Once we find a house that feels right, I know it's going to be a real struggle to actually buy it, too.  We've got time, so we're staying hopeful.

Update...a listing popped up yesterday that we were interested in.  The size and location were perfect, but the pictures were seriously lacking.  Did a virtual tour and we both instantly fell in love with it.  Put in an offer this morning, accepted this afternoon!  This FIRE thing is definitely going to happen. 

goat_music_generator

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Re: 2021 FIRE Cohort
« Reply #902 on: February 26, 2021, 08:49:11 PM »
Another major hurdle overcome - we told the kids of the impending move.  They're handling it like champs!  Some sadness, naturally, but mostly they listened to our reasoning and are finding reasons to be excited.  Much better reactions than we were fearing.

Finding the house is the big problem left.  Stupid crazy sellers' market.  We've toured a couple of houses virtually, but neither was quite right.  Once we find a house that feels right, I know it's going to be a real struggle to actually buy it, too.  We've got time, so we're staying hopeful.

Update...a listing popped up yesterday that we were interested in.  The size and location were perfect, but the pictures were seriously lacking.  Did a virtual tour and we both instantly fell in love with it.  Put in an offer this morning, accepted this afternoon!  This FIRE thing is definitely going to happen.

Congrats!

Dreamer40

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Re: 2021 FIRE Cohort
« Reply #903 on: February 27, 2021, 07:34:47 AM »
Another major hurdle overcome - we told the kids of the impending move.  They're handling it like champs!  Some sadness, naturally, but mostly they listened to our reasoning and are finding reasons to be excited.  Much better reactions than we were fearing.

Finding the house is the big problem left.  Stupid crazy sellers' market.  We've toured a couple of houses virtually, but neither was quite right.  Once we find a house that feels right, I know it's going to be a real struggle to actually buy it, too.  We've got time, so we're staying hopeful.

Update...a listing popped up yesterday that we were interested in.  The size and location were perfect, but the pictures were seriously lacking.  Did a virtual tour and we both instantly fell in love with it.  Put in an offer this morning, accepted this afternoon!  This FIRE thing is definitely going to happen.

So exciting! I forget if you already said, what area are you moving to? Good luck finalizing the sale!

Arbitrage

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Re: 2021 FIRE Cohort
« Reply #904 on: February 27, 2021, 08:02:42 AM »
Another major hurdle overcome - we told the kids of the impending move.  They're handling it like champs!  Some sadness, naturally, but mostly they listened to our reasoning and are finding reasons to be excited.  Much better reactions than we were fearing.

Finding the house is the big problem left.  Stupid crazy sellers' market.  We've toured a couple of houses virtually, but neither was quite right.  Once we find a house that feels right, I know it's going to be a real struggle to actually buy it, too.  We've got time, so we're staying hopeful.

Update...a listing popped up yesterday that we were interested in.  The size and location were perfect, but the pictures were seriously lacking.  Did a virtual tour and we both instantly fell in love with it.  Put in an offer this morning, accepted this afternoon!  This FIRE thing is definitely going to happen.

So exciting! I forget if you already said, what area are you moving to? Good luck finalizing the sale!

Thanks!  We're headed to Bellingham, WA.  Head is spinning with all of the things we have to manage over the next few months, between loans, taxes, down payments, cash flow, inspections, flying, fixes on the new place, fixes on the current place, listing/selling/moving, job transitions...but now we're definitely on the path, and I'm beyond excited for what awaits on the other side of this transition period.

Dreamer40

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Re: 2021 FIRE Cohort
« Reply #905 on: February 27, 2021, 11:31:01 AM »
Another major hurdle overcome - we told the kids of the impending move.  They're handling it like champs!  Some sadness, naturally, but mostly they listened to our reasoning and are finding reasons to be excited.  Much better reactions than we were fearing.

Finding the house is the big problem left.  Stupid crazy sellers' market.  We've toured a couple of houses virtually, but neither was quite right.  Once we find a house that feels right, I know it's going to be a real struggle to actually buy it, too.  We've got time, so we're staying hopeful.

Update...a listing popped up yesterday that we were interested in.  The size and location were perfect, but the pictures were seriously lacking.  Did a virtual tour and we both instantly fell in love with it.  Put in an offer this morning, accepted this afternoon!  This FIRE thing is definitely going to happen.

So exciting! I forget if you already said, what area are you moving to? Good luck finalizing the sale!

Thanks!  We're headed to Bellingham, WA.  Head is spinning with all of the things we have to manage over the next few months, between loans, taxes, down payments, cash flow, inspections, flying, fixes on the new place, fixes on the current place, listing/selling/moving, job transitions...but now we're definitely on the path, and I'm beyond excited for what awaits on the other side of this transition period.

Nice! I went through something similar last summer, moving from DC to Portland. It's quite the project! I made a Word document called "Master Plan Move to Portland" with a table of contents and checklists for each big thing that we needed to figure out. Great place to store all the crazy details like the verification number for my moving van street parking permit. Very satisfying to see it come together.

LightTripper

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Re: 2021 FIRE Cohort
« Reply #906 on: February 28, 2021, 01:42:09 AM »
That's wonderful!  Fingers crossed it all goes smoothly from here.  Does the listing get taken down now your offer is accepted? How does it work with surveys and conveyancing and stuff in the US - is that usually straightforward?

TheContinentalOp

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Re: 2021 FIRE Cohort
« Reply #907 on: February 28, 2021, 06:19:25 AM »
Three weeks to go. Got confirmation of my ObamaCare Bronze Plan $0/month with the subsidies.

American GenX

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Re: 2021 FIRE Cohort
« Reply #908 on: February 28, 2021, 10:45:25 AM »
Well, I got my anal probe exam out of the way, with clear results - no need for another for 10 years!

Then the next two days, my investments lost a half year of retirement spending.

Still waiting on the SCOTUS ACA decision before making any firm decisions.

phildonnia

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Re: 2021 FIRE Cohort
« Reply #909 on: March 01, 2021, 11:54:25 AM »
Well, I got my anal probe exam out of the way, ...

Not to derail this thread, but I just turned 50 last month.  So, catchup contributions to all my IRAs, planned FIRE in 3 months... oh, and my doctor emailed me a happy birthday, and mentioned that he was sending me some kind of self-exam and sample-collecting kit in the mail. 

Exciting times ahead! 

A topic that recurs repeatedly here (and which could probably be its own thread) is how much notice to give your work before retiring.  I've given no clues that I'm planning to leave, and I don't seem too unsatisfied with work.  So it's going to be a surprise at any timing.  But I love all my co-workers (including the management), and I would go slightly out of my way not to bail on them without warning during a work crunch.

(Last time I "retired" about ten years ago, I took a two-week vacation, and returned and gave two weeks notice.  Seems like a dick move now that I think about it.  Nevertheless, the same company hired me back.) 

My wife suggested that a month is appropriate.  I was thinking two months, but I don't like long good-byes. 

And to tell the truth; I'm a little afraid of the committment: if you say you're going to leave, then you have to leave.  I'm having all the usual reservations, and so far nothing is actually real.  Once I have that talk with my manager, there's no going back.

simmias

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Re: 2021 FIRE Cohort
« Reply #910 on: March 01, 2021, 12:30:15 PM »
A topic that recurs repeatedly here (and which could probably be its own thread) is how much notice to give your work before retiring.  I've given no clues that I'm planning to leave, and I don't seem too unsatisfied with work.  So it's going to be a surprise at any timing.  But I love all my co-workers (including the management), and I would go slightly out of my way not to bail on them without warning during a work crunch.

(Last time I "retired" about ten years ago, I took a two-week vacation, and returned and gave two weeks notice.  Seems like a dick move now that I think about it.  Nevertheless, the same company hired me back.) 

My wife suggested that a month is appropriate.  I was thinking two months, but I don't like long good-byes. 

And to tell the truth; I'm a little afraid of the committment: if you say you're going to leave, then you have to leave.  I'm having all the usual reservations, and so far nothing is actually real.  Once I have that talk with my manager, there's no going back.

I've settled on four weeks. I've seen two (good) employees at my company give longer notice than that, and they were both miserable by the end. Management didn't start moving on any preparations for them leaving until the last minute regardless, and then piled on requests and demands on them at the last minute. Not for me.

I have the same hesitations as you - once I have that "talk" with my manager, it's real. I'm past the point of worrying about whether I have enough money, and I'm beyond burned out - but it's a scary last step to take.

It doesn't help that I tried to quit four years ago and they talked me back into it. I must be stronger this time, LOL!

And, like American GenX, I should be smart and wait for definitive ACA knowledge, but at this point I'm thinking if the unlikely scenario unfolds where the Supreme Court does something awful, there are enough votes in Congress to remedy it. Maybe wishful thinking, maybe not, but I'm ready to pull the damn plug!

JoJo

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Re: 2021 FIRE Cohort
« Reply #911 on: March 01, 2021, 01:06:21 PM »
Re: notice

I'm also thinking about 4 weeks.  That puts in in the time frame of announcing early June, should have a better handle on where COVID is going.  Because of my part time schedule, I'll only have about 15 working days left to spread out over the last 4 weeks but give them a little more time if questions come up.  I have a unique job that I really think the company could do without my role for an extended period of time if they really wanted to... part of the reason I'm quitting. 

tipster350

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Re: 2021 FIRE Cohort
« Reply #912 on: March 01, 2021, 02:33:39 PM »
I'm planning on four weeks. No one has any idea I'm about to leave, and my coworkers and manager are all great.

nazar

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Re: 2021 FIRE Cohort
« Reply #913 on: March 01, 2021, 05:17:14 PM »
I'm planning 4 weeks notice too, but may be flexible on the last day if I have projects close to the finish line. It's too early to know if my planned end date will stick.

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dblaace

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Re: 2021 FIRE Cohort
« Reply #914 on: March 01, 2021, 08:12:26 PM »
I've been trying to figure out how long to give notice also. The scope of my job and a seasonal business I feel like I need to give as much notice as possible. Maybe up to 6 months. We have 2 seasons, April-July and September-December. So it's difficult to decide exactly when I'll retire. I was thinking December 31 -vacation days but that would be before the end of the season in mid Dec probably. If I say that maybe get an guarantee if I work till the end of the season I get a payout of any unused vacation & holidays. I carried over 80hrs and lost more than 80 last year.

I've got a Dr. and FP appointment tomorrow that I may have to factor in to everything as well.

Arbitrage

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Re: 2021 FIRE Cohort
« Reply #915 on: March 01, 2021, 11:07:54 PM »
That's wonderful!  Fingers crossed it all goes smoothly from here.  Does the listing get taken down now your offer is accepted? How does it work with surveys and conveyancing and stuff in the US - is that usually straightforward?

Nothing straightforward about real estate transactions in the US, and plenty of opportunities for the sale to fall through after signing.  The listing stays up, but most people won't search through listings that are pending or under contract. 

LightTripper

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Re: 2021 FIRE Cohort
« Reply #916 on: March 02, 2021, 04:52:38 AM »
Will keep everything crossed for you then!  I think actually listings tend to stay up here too, but agents usually won't give viewings or accept rival offers once it's under offer (and you can actually make it a condition of your offer to have the listing taken down).  Housebuying is fraught here too.  I guess it is just a genuinely complicated transaction. 

asauer

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Re: 2021 FIRE Cohort
« Reply #917 on: March 02, 2021, 06:48:02 AM »
I've been trying to figure out how long to give notice also. The scope of my job and a seasonal business I feel like I need to give as much notice as possible. Maybe up to 6 months. We have 2 seasons, April-July and September-December. So it's difficult to decide exactly when I'll retire. I was thinking December 31 -vacation days but that would be before the end of the season in mid Dec probably. If I say that maybe get an guarantee if I work till the end of the season I get a payout of any unused vacation & holidays. I carried over 80hrs and lost more than 80 last year.

I've got a Dr. and FP appointment tomorrow that I may have to factor in to everything as well.

If you give that much notice, just be aware that if you're in the US (looks like you're in TX), the company can choose to terminate your employment at any time.  So if you give 3 months notice they could just walk you out.  If you're ok with that then go for it but it is a possibility.

Arbitrage

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Re: 2021 FIRE Cohort
« Reply #918 on: March 02, 2021, 07:58:16 AM »
Will keep everything crossed for you then!  I think actually listings tend to stay up here too, but agents usually won't give viewings or accept rival offers once it's under offer (and you can actually make it a condition of your offer to have the listing taken down).  Housebuying is fraught here too.  I guess it is just a genuinely complicated transaction.

Thanks!  We just had the inspection (waiting for the report) and I'm frantically working on the mortgage side of things, which are probably the two big things we need to get through.  The appraisal, too, but since we're putting in a very hefty down payment I'm not too worried there. 

Agreed that for all of the crazy complications behind homebuying, you can at least see (most of) the logic behind it. 

dblaace

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Re: 2021 FIRE Cohort
« Reply #919 on: March 02, 2021, 01:59:29 PM »
I've been trying to figure out how long to give notice also. The scope of my job and a seasonal business I feel like I need to give as much notice as possible. Maybe up to 6 months. We have 2 seasons, April-July and September-December. So it's difficult to decide exactly when I'll retire. I was thinking December 31 -vacation days but that would be before the end of the season in mid Dec probably. If I say that maybe get an guarantee if I work till the end of the season I get a payout of any unused vacation & holidays. I carried over 80hrs and lost more than 80 last year.

I've got a Dr. and FP appointment tomorrow that I may have to factor in to everything as well.

If you give that much notice, just be aware that if you're in the US (looks like you're in TX), the company can choose to terminate your employment at any time.  So if you give 3 months notice they could just walk you out.  If you're ok with that then go for it but it is a possibility.

I'll be ready. It's unlikely they would do something like that but they've been know to do things against their best interest.

Dr. appt: Not going to die this year, not going to live forever.
FP appt: I'm covered either way.

Dreamer40

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Re: 2021 FIRE Cohort
« Reply #920 on: March 02, 2021, 04:37:45 PM »
Tomorrow is my last work day. I sent an email around to the office today to the let everyone know. I could have just walked away and people would have never known what happened to me. Most departing people send a farewell email with their personal email address so colleagues can stay in touch. But some people simply vanish.

My director replied with a “best wishes and thank you.” Not even a phone call or exit interview or anything.

It’s been interesting to see who responded to the email. My closest colleagues already knew. Other people I worked with on various projects over the years sent nice emails. But random people who never talked to me in the 11.5 years I worked there suddenly got nosey and wanted to know what new job I was taking. I told those people I’m taking a break and haven’t made any plans yet. But I hear that the truth that I’m actually retiring is starting to circulate. They probably assume I have a trust fund.

So that’s it. One more day. Tomorrow I will respond to any more replies from colleagues, then pack up my work property in a fedex envelope and drop it off. There’s a liquor store across the street from fedex, where I will buy the rum I need to make pina coladas. I bought a new blender as a quitting present to myself. Solely for the purpose of making pina coladas and margaritas. I’d planned on having a big retirement party someday but a blender will have to do! These are strange days.

the_fixer

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Re: 2021 FIRE Cohort
« Reply #921 on: March 02, 2021, 05:02:25 PM »
Tomorrow is my last work day. I sent an email around to the office today to the let everyone know. I could have just walked away and people would have never known what happened to me. Most departing people send a farewell email with their personal email address so colleagues can stay in touch. But some people simply vanish.

My director replied with a “best wishes and thank you.” Not even a phone call or exit interview or anything.

It’s been interesting to see who responded to the email. My closest colleagues already knew. Other people I worked with on various projects over the years sent nice emails. But random people who never talked to me in the 11.5 years I worked there suddenly got nosey and wanted to know what new job I was taking. I told those people I’m taking a break and haven’t made any plans yet. But I hear that the truth that I’m actually retiring is starting to circulate. They probably assume I have a trust fund.

So that’s it. One more day. Tomorrow I will respond to any more replies from colleagues, then pack up my work property in a fedex envelope and drop it off. There’s a liquor store across the street from fedex, where I will buy the rum I need to make pina coladas. I bought a new blender as a quitting present to myself. Solely for the purpose of making pina coladas and margaritas. I’d planned on having a big retirement party someday but a blender will have to do! These are strange days.
Congratulations

A little tune to see you out
https://youtu.be/TazHNpt6OTo


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MoStash

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Re: 2021 FIRE Cohort
« Reply #922 on: March 02, 2021, 05:14:48 PM »
There’s a liquor store across the street from fedex, where I will buy the rum I need to make pina coladas. I bought a new blender as a quitting present to myself. Solely for the purpose of making pina coladas and margaritas. I’d planned on having a big retirement party someday but a blender will have to do! These are strange days.

Congratulations! Enjoy that new blender!

ScreamingHeadGuy

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Re: 2021 FIRE Cohort
« Reply #923 on: March 02, 2021, 06:54:45 PM »
Tomorrow is my last work day. I sent an email around to the office today to the let everyone know. I could have just walked away and people would have never known what happened to me. Most departing people send a farewell email with their personal email address so colleagues can stay in touch. But some people simply vanish.

My director replied with a “best wishes and thank you.” Not even a phone call or exit interview or anything.

It’s been interesting to see who responded to the email. My closest colleagues already knew. Other people I worked with on various projects over the years sent nice emails. But random people who never talked to me in the 11.5 years I worked there suddenly got nosey and wanted to know what new job I was taking. I told those people I’m taking a break and haven’t made any plans yet. But I hear that the truth that I’m actually retiring is starting to circulate. They probably assume I have a trust fund.

So that’s it. One more day. Tomorrow I will respond to any more replies from colleagues, then pack up my work property in a fedex envelope and drop it off. There’s a liquor store across the street from fedex, where I will buy the rum I need to make pina coladas. I bought a new blender as a quitting present to myself. Solely for the purpose of making pina coladas and margaritas. I’d planned on having a big retirement party someday but a blender will have to do! These are strange days.

So glad to hear you’ve made it to the finish line. 

Chaplin

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Re: 2021 FIRE Cohort
« Reply #924 on: March 02, 2021, 07:52:18 PM »
Tomorrow is my last work day....

So glad to hear you’ve made it to the finish line.

Indeed! Congratulations!

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Re: 2021 FIRE Cohort
« Reply #925 on: March 02, 2021, 08:00:13 PM »
Confirming 3/1 was my last day. Celebrated with the family with homemade pizza, homemade cheesecake, and a bottle of that new kirkland rose wine. A real splurge for us!

Notice period ended up being about 7 weeks, which was a tad long.  By the end, I had so many various levels of goodbye with various groups of people that it was a general sense of 'Oh you are still here?' from some.

The goodbyes do tend to trend formulaic. Someone says something nice, the other person says something nicer. We agree we both enjoyed working together. We exchange contact info and then move on to do it again.  Still, I tried to be as sincere as possible and not reuse niceties.

As I continued through this process, I moved to referring to my departure as a semi retirement. I am amazed with the general awareness the average coworker had of FIRE and I had two people mention MMM, which was cool and sparked some good conversations.

Started my ACA app the other day. Got through the eligibility part and I think so far so good. Next step is to finalize the exact plan.  I still have a big checklist of other items to call and figure out. Good thing I don't have a j*b taking up all my time now.  I don't think the reality has really set in yet, maybe in a week or two.

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Re: 2021 FIRE Cohort
« Reply #926 on: March 03, 2021, 06:41:38 AM »
Started my ACA app the other day. Got through the eligibility part and I think so far so good. Next step is to finalize the exact plan.  I still have a big checklist of other items to call and figure out. Good thing I don't have a j*b taking up all my time now.  I don't think the reality has really set in yet, maybe in a week or two.

Congrats! Jealous of all you guys retiring on the earlier end of the month so you qualify for the ACA subsidies. Sadly I can't pull the plug until May due to being on an overseas contract... so I'll have to figure out coverage for the rest of the year.

Arbitrage

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Re: 2021 FIRE Cohort
« Reply #927 on: March 03, 2021, 08:09:40 AM »
Congrats to all of the new graduates!

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Re: 2021 FIRE Cohort
« Reply #928 on: March 03, 2021, 02:12:39 PM »
I have an update - I am moving my date from June to April 9! I made my announcements at work, and now have a little over 5 weeks to transition out. I have a lot of responsibilities, so I expect a busy 5 weeks which will probably end with things still undone. But that would be true no matter how much notice I gave.

I am planning to work (very) part-time at a fun job this summer that aligns with my hobbies, and then do some traveling later in the year. I'm so so excited.

When I gave notice, I talked about the part-time job this summer, the traveling, and with certain people I mentioned that I'd been feeling burnout and need a break. Given all the stress of COVID times, I think people get that. Several have commented that they are jealous, have thought about doing something similar, or want to do something similar.

I've been with the same employer for 20 years, almost half my life. I have so many emotions right now. I'm nervous about the huge leap, though I know we have a good plan, but mostly I just can't wait to start the next chapter!

Mrs. Healthywealth

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Re: 2021 FIRE Cohort
« Reply #929 on: March 03, 2021, 03:31:06 PM »
It’s very inspiring to read all the folks that have left their job so far. Hope everyone provides updates through the year of how FIRE is treating them. Congrats all!!

Your updates keep me going with the plan. I waivered this morning, thinking maybe instead of quitting I just work 10hr/wk to fulfill my main duties, and do that till end May. But, the whole purpose of 3/29 being the last day is to see what it’s like not to work for a significant period of time. Meeting with an insurance agent to help navigate health coverage, think once that’s done there will be relief. Health insurance coverage is the last hurdle to figure out. Not much else to do.

Mrs. Healthywealth

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Re: 2021 FIRE Cohort
« Reply #930 on: March 03, 2021, 03:36:29 PM »
I've been with the same employer for 20 years, almost half my life. I have so many emotions right now. I'm nervous about the huge leap, though I know we have a good plan, but mostly I just can't wait to start the next chapter!

Totally feel you! It is a huge leap, appreciate you mentioning being nervous, helps normalize the process. Think to FIRE, by nature we are savers and planners, and we have been doing it so long, that changing gears can be anxiety provoking, as any change can be. But this is a big one, especially if you’ve been employed there for 20yrs. It’s going against the norm and everything we’ve been taught is the natural progression of life. But, since I imagine you have planned like crazy,  the plan will take its course and you will adapt as expected. You got this!

Dreamer40

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Re: 2021 FIRE Cohort
« Reply #931 on: March 03, 2021, 04:33:54 PM »
Thanks for all the kind wishes! I turned in my badge and am officially out. I will pop back here to update occasionally and root you all on. You've all got this!

The first few hours feel amazing so far. I'll get a nice takeout dinner in a few hours from a place that makes fancy desserts. I'm downloading a Nintendo Switch game called "A Short Hike." Maybe I will go for an actual walk in the real world as well.

JoJo

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Re: 2021 FIRE Cohort
« Reply #932 on: March 03, 2021, 05:23:54 PM »
Just had my final annual review!   Boss asked if I had any comments or questions, just said "nope".

SunniD

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Re: 2021 FIRE Cohort
« Reply #933 on: March 04, 2021, 08:04:55 AM »
Thanks for all the kind wishes! I turned in my badge and am officially out. I will pop back here to update occasionally and root you all on. You've all got this!

The first few hours feel amazing so far. I'll get a nice takeout dinner in a few hours from a place that makes fancy desserts. I'm downloading a Nintendo Switch game called "A Short Hike." Maybe I will go for an actual walk in the real world as well.

Congrats!
And your celebration plans sound perfect to me!

stealthwealth

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Re: 2021 FIRE Cohort
« Reply #934 on: March 04, 2021, 04:15:36 PM »
A few years ago, right before a big correction, my household net worth briefly touched $1M.  Over the past few years, but greatly aided by the market craziness of 2020, we're sitting on about $1.5M net worth (1.35 is cash), not including a couple UTMA/529s for our kids that are probably about half funded for their college education about 8-10 years from now (total there is about $120k). 

We owe $65k on our house at 2.5%, which we'll pay off in 2034 or whenever our cash surpasses $2.2M, otherwise no debt.

I think our target for FIRE is around $2M liquid (leaving $200k for house remodel/repair update job), but I'm posting in the 2021 cohort because I realize maybe $2M after home reno isn't necessary as much as I like the idea of 4.5% being $90k. 

I'm 42 and my wife is 40, and our combined current income is about $120k if you factor in insurance benefits.  She's a freelance writer, and I probably could do freelance design work part time if I wanted to.  United States. 

Really just interested in peoples' thoughts.  How close are we?  What am I missing? 

sailingTowardsFI

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Re: 2021 FIRE Cohort
« Reply #935 on: March 04, 2021, 07:21:09 PM »
Thanks for all the kind wishes! I turned in my badge and am officially out. I will pop back here to update occasionally and root you all on. You've all got this!

The first few hours feel amazing so far. I'll get a nice takeout dinner in a few hours from a place that makes fancy desserts. I'm downloading a Nintendo Switch game called "A Short Hike." Maybe I will go for an actual walk in the real world as well.

Congratulations! I saw your FU story and it's great to see another fed on here leaving early! That sounds like a lovely celebration, and please keep us updated on your new life!

shuffler

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Re: 2021 FIRE Cohort
« Reply #936 on: March 04, 2021, 08:04:55 PM »
we're sitting on about $1.5M net worth (1.35 is cash)


What am I missing?
What's your plan for all that cash?

Blindsquirrel

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Re: 2021 FIRE Cohort
« Reply #937 on: March 05, 2021, 04:49:01 PM »
    @Dreamer40  Congrats and a giant Rum and Coke in your honor. End of March I am bouncing like a rubber biscuit out of the working world. Would be gone now but said end of March and would really be hosing some folks I like if I bailed faster. Only working 20 hrs a week now so not horrible.

Well Respected Man

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Re: 2021 FIRE Cohort
« Reply #938 on: March 05, 2021, 08:24:02 PM »
Congratulations to all the FIRErs!

I'm back from about 8 weeks off, immediately into the frying pan. During my time off, we signed a purchase and sale agreement to sell our current house at our asking price less 5% representing commission that we don't have to pay, and most importantly, as-is. We passed the inspection, and I guess their bank wants to do an appraisal. It's strange how the appraisals always seem to exactly match the sale price, how does that work?

We also rented a nice, small apartment in town, so I can really be about town now. We move in less than a month, so we've been getting rid of tons of stuff. One friend called our house minimalist, but she hasn't seen what's been coming out of the storage areas lately!

I thoroughly enjoyed my time off, even though I did not get to go skiing for the whole time -- or even once -- as planned. Well Respected Woman said she liked retired me so that's a great sign for the next few years, as she keeps working.

At work, my team was reorged into a different role, which means no layoff for me ( I usually count a reorg as no layoffs for a year). I got a raise, and only a small stock incentive, thankfully, so no temptation to OMY. My plan is to stick around for two more stock vesting quarters, plus the semi-annual ESPP purchase. Together, those will net me enough to pay the final year of college for my daughter, so it seems like an appropriate plan.

However, it will be sooo tempting to quit once we get the cash from the home sale in our pockets. Like put the check in the bank, let it clear, move it to the brokerage, start putting it in the market, and peace out. We'll see how it goes, but for now, I'm moving my date up by a month to 8/6/2021. My wife drew a calendar for me with different colors and shapes for days off, weekends, and workdays, and I put it on the wall right behind my monitor. Only 109 more work days, max!

exit2019

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Re: 2021 FIRE Cohort
« Reply #939 on: March 05, 2021, 10:09:20 PM »
This is feeling like a repeat of last year.  I am still hoping to be in 2021, but I'm going to hang around until the tail end of Q4CY2021.  The day I was going to drop, they promoted me and then made me an offer that I'd be a fool to turn down even given my rage, anger, and cynicism.

Still in, but not until later.  At least I'll get to see what happens to ACA first.

amberfocus

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Re: 2021 FIRE Cohort
« Reply #940 on: March 06, 2021, 01:10:11 AM »
Finally had The Talk with my manager. CT announcing the move to a purely age-based vaccine rollout last week removed a major blocker in that it is no longer relevant to be an essential worker in order to qualify for vaccination under phase 1c. And then multiple additional projects got dumped on my head in the past week alone, which I took as the universe tacitly telling me that it was past time to do some hard managing of expectations, before even more stakeholders were impacted.

I didn't give a notice of resignation, though; I actually asked for a long sabbatical (6 to 12 months) -- far longer than the employee handbook says I'm allowed to get (3 months). I'm absolutely ready to walk if it gets turned down, and I half-expect to be turned down, but I figured it doesn't hurt to keep doors open in case I change my mind about retirement. (And having work continue to subsidize my health insurance for a bit longer is also not a bad deal given continuing ACA uncertainty. Even three months of additional coverage is better than nothing.)

My manager was surprisingly supportive of my sabbatical request, which I did not expect, given how much he is dependent on my output. But I suspect he already knew deep down that the writing was on the wall after I burned to a flaming crisp last year. I can tell that he desperately wants to retain me, but is clearly worried that standing in the way, or making additional asks (such as finishing certain projects that might be tricky to transfer), might exacerbate the aforementioned burnout, and drive me out sooner. Which is not wrong.

My desired end date is the third week of May, which was designed around maxing out my 401(k) and mega backdoor, as well as collecting a final quarterly 401(k) match. I was trying to hold off divulging the date in order to demonstrate flexibility regarding the transition, but I caved after being asked multiple times. Nothing is official until it's escalated to and approved by upper management and HR, who may yet veto everything, but the biggest step -- letting the cat out of the bag -- is done.

So... two-and-a-half more months to go. The finish line is in sight! The relief is palpable.

ScreamingHeadGuy

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Re: 2021 FIRE Cohort
« Reply #941 on: March 07, 2021, 11:29:09 AM »
Way to go @fiStressRelief

I've got your updates @sailingTowardsFI and @exit2019

Nice to hear you're operating from a position of strength @amberfocus (and it seems you are ready to use FU money if need be). 

Sorry (but not really sorry) my activity has been less as of late, but I'm "busy" being retired.  This past Friday (3/5) was supposed to have been my last day of work so I guess it's an appropriate time to look back on how my 6 weeks of "early FIRE" have gone.  To give a brief summary "I did absolutely nothing, and it was everything that I thought it could be." 

There was a lot of busywork - transferring the 401(k), transferring the HSA (which was held-up due to incompetent payroll), getting ACA health insurance, and filing for unemployment (since I was technically let go).  Turns out the filing for unemployment will probably be a huge boon to me due to the recent federal legislation's impact on ACA insurance policies' premium subsidies being based on 150% of FPL for those who'd filed an unemployment claim - that will save us $3300 in premiums this year and allow us to capture some capital gains without worrying about its impact on our subsidies. 

I filed my 2020 taxes and helped my father file his (he just needs the help with e-filing).  My effective federal income tax rate was in the low 2% and my state income tax rate was in the upper 2%.  Somebody please tell me how income taxes are too high again (/sarcasm). 

My standard weekday routine has become: exercise, breakfast, walking the daughter to school,  exercise (inside while watching YouTube videos - something comedy or educational - or reading news), being productive time (running errands, cleaning, whatever needs doing), computer game time (I'm catching-up on games I've had but never finished, and replaying some that I just really liked),  lunch (usually while watching more YouTube),  reading on the recliner with the dog on my lap, fall asleep on the recliner with the dog on my lap, walk to get daughter from school, father/daughter time, make supper (I've tried a few new recipes and have even started using my wife's Instant Pot - well it's 50% mine), and then the evening-activity du-jour. 

Weekends have become way more laid-back.  I don't feel the need to try to cram everything into those two days; if there's anything I want to do or needs doing I can take care of it from 9-3 M-F. 

I still check the indices every few days and calculate invested net worth every 2 weeks - some old habits die hard I guess.  Maybe I'll be less focused on this once all my funds have transferred and are re-invested. 

I've volunteered/applied to be an elections inspector in our City because I've got the time and I figure it's another way to help the community.  Yes, it's a paid position (8-16 hours every few months @$9/hr) but I think it's small enough the Internet Retirement Police don't come after me. 

FarFetchd

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Re: 2021 FIRE Cohort
« Reply #942 on: March 07, 2021, 02:30:55 PM »
I'm officially done! It's been surprisingly anticlimactic. I took two separate months off in 2020, and both of them were much more immediately relaxing - probably because I knew I was going back to work and had to make the most of them, and because I had been really busy at work leading up to both. Various ongoing paperwork has also kept me from feeling fully "free" yet: stuff related to quitting, taxes, and arcane real estate stuff for our ongoing land buying/house building project. Overall, I'm getting somewhat of the "it hasn't really sunk in" experience that I've seen people describe. I'm looking forward to spring - once I'm reading in the backyard hammock during working hours, spending an unreasonable amount of time on the garden, etc... that's when I think it will really sink in!

Blindsquirrel

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Re: 2021 FIRE Cohort
« Reply #943 on: March 07, 2021, 07:27:25 PM »
@FarFetchd    glad to see you GTFO of work. A cold one in your honor and end of the month, I am there. !!

Mrs. Sloth

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Re: 2021 FIRE Cohort
« Reply #944 on: March 07, 2021, 07:41:16 PM »
Congrats to those who have pulled the plug. I never added my name to any cohorts but I originally thought I was going to FIRE 2022 at the earliest but 2020 was really good to us and I am freaking tired and burnout. Please add me to this cohort. I will be retiring sometime during the Spring. Thank you!!

2Birds1Stone

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Re: 2021 FIRE Cohort
« Reply #945 on: March 08, 2021, 02:46:26 PM »
So tempted to put my name back in the hat. Originally FIREd in 2019, covid screwed up plans enough that going back to work made sense. Thought I could make it till mid 2022, but my soul feels like it gets crushed daily.

We're not exactly FI if we stay in the USA, so hesitant to give up the income without a better plan B.

Congrats to all 2021 FIREes

icebox92

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Re: 2021 FIRE Cohort
« Reply #946 on: March 08, 2021, 05:32:25 PM »
Well I officially gave my notice...  I had dropped a large hint to my supervisor (who is also my mentor / advocate) a few Friday's back and he asked that I give him 6 months notice if / when I decide to leave (my date was 4/30/21).  Upon seeing my reaction he asked for 4 months.  So I settled and told him officially today that I really will be pulling the plug, and gave him 3 months notice by pushing my date back from 4/30/21 to 6/4/21.  Which happens to be my birthday as well.  So happy birthday / retirement day to me.  I feel relieved, scared, oddly normal, and full of guilt.  Right now the guilt is the hardest part for me.  I have only worked for this company, and have had a fantastic 15 year career.  The company has been absolutely amazing and like family.  I am also one of very few women here / in the industry an I feel like I am letting so many of the younger women down.  I'm the most senior female in my district, and there are very few of us in any leadership roles...  I'll have to continue to work through these feelings,  what is done is done. 

asauer

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Re: 2021 FIRE Cohort
« Reply #947 on: March 08, 2021, 05:38:13 PM »
Well I officially gave my notice...  I had dropped a large hint to my supervisor (who is also my mentor / advocate) a few Friday's back and he asked that I give him 6 months notice if / when I decide to leave (my date was 4/30/21).  Upon seeing my reaction he asked for 4 months.  So I settled and told him officially today that I really will be pulling the plug, and gave him 3 months notice by pushing my date back from 4/30/21 to 6/4/21.  Which happens to be my birthday as well.  So happy birthday / retirement day to me.  I feel relieved, scared, oddly normal, and full of guilt.  Right now the guilt is the hardest part for me.  I have only worked for this company, and have had a fantastic 15 year career.  The company has been absolutely amazing and like family.  I am also one of very few women here / in the industry an I feel like I am letting so many of the younger women down.  I'm the most senior female in my district, and there are very few of us in any leadership roles...  I'll have to continue to work through these feelings,  what is done is done.

Congratulations!  Regarding the feeling guilty, don't.  Part of the misogynistic society we live in makes it so that one woman represents all women.  That doesn't happen to men but every woman is somehow automatically the example for her gender.  So dont' worry. You do you.  Also, if you want to talk about an example- how about a badass woman who got her financial sh*t so much in order that she is retiring early!  That's a pretty freakin' strong example!

exit2019

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Re: 2021 FIRE Cohort
« Reply #948 on: March 08, 2021, 06:49:28 PM »
I've volunteered/applied to be an elections inspector in our City because I've got the time and I figure it's another way to help the community.  Yes, it's a paid position (8-16 hours every few months @$9/hr) but I think it's small enough the Internet Retirement Police don't come after me.

In my experience, people often don't respect things they get free, whether objects or people (volunteers, unpaid interns, etc.). So it's actually better that it is paid, even if minimally. The single best piece of career advice I ever got was "you have to make them pay."  That can (as I demonstrate) be a bit of a trap if you are some combination of lucky and good, but even so.

Anyway, just the act of getting things set up enough that it is possible to pay their "volunteers" puts a very substantial filter on basic unprofessionalism and exploitation.
« Last Edit: March 08, 2021, 06:51:50 PM by exit2019 »

monarda

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Re: 2021 FIRE Cohort
« Reply #949 on: March 08, 2021, 08:31:46 PM »
I've been a pollworker since 2016, and we get paid $13 something per hour. All of my earnings become political and human rights org donations.