Author Topic: Should I Quit My Job?  (Read 14535 times)

2Birds1Stone

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Re: Should I Quit My Job?
« Reply #50 on: August 10, 2017, 11:26:24 AM »
Really happy to hear your update.

Your situation is exactly the motivation I needed halfway through my boring cubicle workday.

Hopper

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Re: Should I Quit My Job?
« Reply #51 on: August 10, 2017, 12:42:24 PM »
what kind of toilet paper to buy were sources of friction.

Toilet paper friction. The worst kind of friction?

Seriously though, way to go COTribe.  Inspiring as I slog my way through another day at the office!

ColoradoTribe

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Re: Should I Quit My Job?
« Reply #52 on: August 10, 2017, 02:40:01 PM »
what kind of toilet paper to buy were sources of friction.

Toilet paper friction. The worst kind of friction?

Seriously though, way to go COTribe.  Inspiring as I slog my way through another day at the office!

Hopper, you joke, but aren't too far from the mark. I come home from Costco with a six-month supply of eco-friendly TP with recycled fiber content and caught hell because it was not super plush.  Said it was too "scratchy". 

Retire-Canada

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Re: Should I Quit My Job?
« Reply #53 on: August 10, 2017, 02:47:35 PM »
Hopper, you joke, but aren't too far from the mark. I come home from Costco with a six-month supply of eco-friendly TP with recycled fiber content and caught hell because it was not super plush.  Said it was too "scratchy".

Well the upside is you now have a 12 month supply of eco-friendly TP. ;)

ColoradoTribe

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Re: Should I Quit My Job?
« Reply #54 on: August 10, 2017, 08:29:44 PM »
Hopper, you joke, but aren't too far from the mark. I come home from Costco with a six-month supply of eco-friendly TP with recycled fiber content and caught hell because it was not super plush.  Said it was too "scratchy".

Well the upside is you now have a 12 month supply of eco-friendly TP. ;)

Ha, we do have a bit of a his and hers situation going on.

Lentils4Lunch

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Re: Should I Quit My Job?
« Reply #55 on: August 10, 2017, 08:54:54 PM »
Have just read through this whole thread - what a great story arc! So happy to hear that you quit and began embracing all that life has to offer.

ColoradoTribe

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Re: Should I Quit My Job?
« Reply #56 on: August 10, 2017, 09:24:22 PM »
Thanks for the kind words. This site helped inspire me to get serious about the possibility of FIRE about five years ago. Our journey is not complete, but sharing milestones and seeking support, knowledge and inspiration is why I visit this site regularly (though I seldom post). So far, things have worked out for the best, hope I can say the same in the years to come.

thriftyc

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Re: Should I Quit My Job?
« Reply #57 on: August 13, 2017, 08:05:23 AM »
Exciting, well done!  Please keep posting once in a while.   

I can't agree more with your statement:
"good fortune has played a role, but sometimes you really do need to take step back to go forward."

Cheers and all the best!

ColoradoTribe

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Re: Should I Quit My Job?
« Reply #58 on: March 18, 2018, 10:08:14 PM »
OP here. Figured I would post to this thread at the one year anniversary of quitting my job.  This will likely be my last update unless something significantly changes going forward from here. Here's a quick timeline of the past year:

Quit my 17-yr environmental consulting career in March 2017.
Wife was consulting part-time.
We were debt free at the time, but not quite yet FI.
After 3-months of consulting (self employed), my wife accepted a full-time position in August 2017.
She has since been promoted in Feb 2018 and really enjoys her work, manager, and company.

Our net worth has increased from roughly 1.4 mil to 1.7 mil since I quit. At this point, I think we have reached FI, but I have a new goal of 2.0 mil that would provide a significant cushion. Wife has no desire to quit, but its nice to know she doesn't have to work.

In November, after an extensive search with my real estate agent/investor friend and mentor, I purchased a rental townhouse that we promptly rented back to the seller.  In February, we had to find our first real tenants and clean/fix up the place a bit. It was a busy and somewhat stressful few weeks, but our new renters started March 1 and so far so good. This has been a good side hustle for me and I generally enjoy real estate as an investment and improving properties.

My concerns remain the same as many in the FIRE community.  Finding the money to put three kids through college, finding affordable and quality healthcare if we decide to go full FIRE, caring for aging parents, idiots with nukes, etc.

Long-term, I'd like to move the family back east (mid-Atlantic region), where wife and I are both from.  We've been very fortunate with the rapid increase in home values here in Denver/Boulder and I'd like to cash in those gains and find a nice rural home on some acreage with water. I grew up on the farm and would like my boys to have a chance to experience that lifestyle. In the process we should be able to free up an additional 200k-400k to invest.

If I had to sum up the past year, I'd admit there were growing pains as I assumed a new role. Being a SAHD is a full-time job, and I'm amazed by how tired I am at the end of the day. I also think being a SAHD is the ultimate in being "self-employed". My kingdom is small and humble, but I answer to no man (and one woman) and set my own course.  Life has changed in dozens of small ways that add up in big and meaningful ways. Too numerous to list, but tomorrow I'm headed up the mountain to ski. Not something I could do on a whim a year ago. Life is pretty good.

Good luck to all!


Dicey

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Re: Should I Quit My Job?
« Reply #59 on: March 19, 2018, 12:29:30 AM »
Thanks for the update. I really, really hope it isn't your last one.

ColoradoTribe

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Re: Should I Quit My Job?
« Reply #60 on: October 25, 2019, 02:22:41 PM »
OP here, it's been 2.5 years since I quit my job at age 40. I visit the forum less frequently these days, but revisit this thread about once a year as a way to both guage my progress and hold myself accountable to previously stated goals. Since my last update:

  • Wife continues with her employer and works from home mostly. Still enjoys her work and has no desire to retire early, Probably, a good thing, since she is not fully committed to frugality and not having her work would undoubtedly create more friction over spending habits, which I can live with or ignore while she is working.
  • Purchased a 2nd rental property a yr ago. It is profitable with a good tenant, but dealing with association-related issues has been stressful and forced me to get a seat on the board. Rental properties currently netting about $2,500/month in income after expenses (mortgage interest, taxes, dues, maintenance, insurance, etc.).
  • Net worth reached the 2.0 million milestone for the first time this month. This was our revised FI goal. Orginal goal was 1.5 million. Retired at 1.3 million. I will not raise the goal again, as this number should be sufficient to support full FIRE for wife and I if we so choose, while also providing a cushion in the event of recession. Hard to believe I moved to Colorado in 2001 with a clunker Taurus that nearly stranded me in Nebraska, no job, and a net worth of about $2,000. Truly blessed.
  • I have ben cancer free for 7 years now and my risk is in line with the general population. I've lost about 10 pounds since quitting work, but still need to eat better and exercise more. I've taken up swimming laps for a low impact exercise, since I'm not one for running. Feeling my age more with more joint pain and longer healing times.
  • I have been struggling lately with the question of "What now?" My days are still relatively full running the house and looking after the kids (ages 7,9 and 10 now), but the amount of attention they require is decreasing. I self-manage the rentals, but have no plans to buy any additional properties at this time. I have some home improvement projects, coach my sons in basketball, and volunteer some at the local food bank, but it may be time for some part-time work. I feel my productivity now is too hit or miss day to day and I could use a bit more structure/routine.
  • Some really good friends from pre-FIRE have drifted away, which is sad. Unsure if this is a result of FIRE, but suspect is may be partly to blame.  Still have some very good friends, but wish I had one good, like-minded male friend with similar life flexibility to engage with regularly and discuss topics of FIRE and investing openly. FIRE can feel lonely at times.
  • I only owned one individual stock (TSLA) for the past 6 yrs. I capped my position at 5% of our net worth and it has been a stressful ride, but I never lost faith in the mission or the fundamentals of the product and the EV/Energy market. I believe the company has truly turned a corner this qtr, especially with the Shanghai factory coming on line. I took some profit and will continue to swing trade the volatility, while holding core shares for the next 2 years at least. Not advice.
  • Still considering a move back east to get on some land and away from hordes of people. Making some headway with the wife, but probably a year or two away from pulling the trigger.
  • Trying to identify and focus on meaningful relationships, family first and then those friends that have made significant efforts over the years to stay in touch. Will be visiting two great college friends in HI and Australia this summer.
  • Have experienced some lifestyle inflation (see above travel plans), but still live well below means and embrace frugality wherever I can in day-to-day life. Cost of competitive kids sports is ridiculous, but wife and I are both former college athletes, so this is important to us and something the kids have also gravitated towards.
  • Big long-term worries remain healthcare costs and the fate of the ACA. Also, very worried about the long-term prospects of this country. The institutions, political norms, and separation of powers seem under attack almost daily. Whatever happens with the current President, long term damage has been done to our ability to govern. I also have long-term 20-40 yr concerns over the state of the environment, particularly our worsening climate crisis, which requires immediate action. The size of one's 401K becomes pretty meaningless if the ability of the planet to sustain life as we know it is altered. Another reason to get set-up on some land and be self-sufficient as possible.

Okay, sorry for dragging up an old thread and rambling. Mods, please feel free to move this to a more appropriate location if desired. It is helpful to be able to look back on earlier posts and revisit my thinking at the time. Hopefully, there is some value to the community as well. I would not have taken this path without the FIRE movement and this online community, so thank you!

Best of luck everyone!




 
« Last Edit: October 25, 2019, 04:44:26 PM by ColoradoTribe »

partgypsy

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Re: Should I Quit My Job?
« Reply #61 on: October 25, 2019, 02:46:04 PM »
Thanks for posting an update, good thoughts.

PacificaFog

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Re: Should I Quit My Job?
« Reply #62 on: October 26, 2019, 10:23:02 AM »
Thanks for coming back to post an update!  I find these post-fire postings to be so helpful.  They always give me a lot of food for thought - issues with friendships, boredom, how much money is really enough to pull the plug — all good things to have in mind as I gradually get closer to my own FIRE date.

Dicey

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Re: Should I Quit My Job?
« Reply #63 on: October 26, 2019, 10:36:17 AM »
You can always find like minded folks here. Maybe look for or host a meet-up in your area? That would be a good way to make FIRE friends IRL. Great update!