Early-retirement wannabe

Marine_life

Goldiegirl wrote: »

If you can't steel yourself to drop to a 4 day week, how on earth will you ever gird yourself up to stop work completely?

That's the easy bit - its like pulling off a plaster i.e. much easier to rip it off in one fast smooth motion than ease it off gradually. ;-)

Marine_life

...but seriously thanks for the replies and for putting up with my endless drivel.

Over the last couple of months I've been working on convincing my wife that we have enough money to retire and I think she's quite comfortable with the thought now. We have a big buffer in our annual spending budget and around 20 years of spending in savings (based on the higher amount) with a further buffer in case that all goes wrong!

So I'm just left with picking the right moment.

For 99% of jobs that's pretty easy as you simply give your two or four weeks notice and off you go. For me there is a notice period of 6 months from the end of the quarter in which you hand your notice in. So handing your notice in on 1 January means a leaving date of 30 September!! Of course the perfect scenario is that they ask you to go immediately and pay you up to the end of your contract but more likely they make you work until the end.

I would like to leave of good terms and am interested in a side gig going forward (at say 1 day a week) so that adds a another layer of complexity. and of course until you put your cards on the table you never know what the reaction will be.

Its those considerations that are swirling around in my head at the moment!

goRt

Marine_life wrote: »

...but seriously thanks for the replies and for putting up with my endless drivel.

Over the last couple of months I've been working on convincing my wife that we have enough money to retire and I think she's quite comfortable with the thought now. We have a big buffer in our annual spending budget and around 20 years of spending in savings (based on the higher amount) with a further buffer in case that all goes wrong!

So I'm just left with picking the right moment.

For 99% of jobs that's pretty easy as you simply give your two or four weeks notice and off you go. For me there is a notice period of 6 months from the end of the quarter in which you hand your notice in. So handing your notice in on 1 January means a leaving date of 30 September!! Of course the perfect scenario is that they ask you to go immediately and pay you up to the end of your contract but more likely they make you work until the end.

I would like to leave of good terms and am interested in a side gig going forward (at say 1 day a week) so that adds a another layer of complexity. and of course until you put your cards on the table you never know what the reaction will be.

Its those considerations that are swirling around in my head at the moment!

Go on then, just pull that plaster off, one sharp tug.

I'm just completing my third year of retirement - I went at 50 from a very senior position, I love my life, but I also loved my work life.

Just do it, you've got way too much money already and you're days are ticking away. My cousin got the big c and was gone within 3 weeks so you never know how long you have!

gfplux

Hi Marinelife, that was an interesting comment about your wife. I did not remember you saying she also was not sure about you retiring. Are you now absolutely sure she is onside. Procrastination might run in the family, lol.

gadgetmind

Marine_life wrote: »

there's an expectation for men that this is done by "people on their way out".

I'm pretty open with people that this is exactly what it means, and I'm already doing succession planning. (I've been told to!)

So from a practical perspective it probably results in loss of status (and the accompanying reduction in bonus).

My status comes from the fact that I get the job done and am happy running complex technical teams doing difficult stuff. I've never subscribed to the chair-throwing Alpha mail thing, which is perhaps why I retain ultra-employable staff as long as I do. As for bonus, what I forecast is remaining represents about 2% of my net worth.

chucknorris

Marine_life wrote: »

I've thought about asking for a 4 day week, and a three day week. I've also thought about asking for different permutations of holiday / work, work / holiday and all points in between. I've always held back as I've always thought it was a sign of weakness.

Help me out here, how on earth could it be construed as weakness to have both the financial strength to work less days and enough outside interests, so that work needs to be reduced to provide enough time to do them?

I went part time for a while before I first retired (although I was still running two businesses at the time, when in my early 40's). When I later sold one of the businesses in my early 50's, I went back to work, in a new career (university lecturer), but only part time, they tried to talk me into full time, but I explained that I had too many other interests and stuck to my guns. I am retiring next year, at 58, although it isn't impossible that I might work one day a week (until my wife retires) if it suites both parties.

I would like to do a triathlon, but I just can't get on top of all 3 disciplines (especially swimming) while I'm working, on top of that there is my bowls, chess and all the usual things to fit in. I can't wait to be able to do what I want, when I want. I'd also like to become a much better cook, but at the moment there just isn't time.

Goldiegirl

Marine_life wrote: »

I think it depends on the level of seniority and exactly what your role is. It may have no impact at all however, In our organization, I can say that whilst it seen as "acceptable" for a woman there's an expectation for men that this is done by "people on their way out". So from a practical perspective it probably results in loss of status (and the accompanying reduction in bonus).

Gosh, how archaic! Last time I looked it was 2015, I thought those sorts of attitudes were left behind years ago!


Also, as you are retiring soon, you actually are on your way out! So that rather misguided perception from your colleagues shouldn't really be an issue

You mention the reduction in bonus. I think we've established that your 'buffer' is adequate (in fact probably more than many people would earn in two lifetimes) so the loss in bonus shouldn't really be a problem


But I think the crux of the matter is the loss of status.


I get the impression that your corporate culture is a masculine jungle, populated by a load of alpha males, all vying to be the top dog, and at any sign of perceived weakness the pack will turn on the weaker animal. Over the years, you've probably bought into this, and along with your competitive nature (as evidenced by the beating and bleeding signature) you will find it really difficult, if not impossible to retire unless you stop believing in the culture and ditch the winning at all costs outlook.


I will be truly gobsmacked if you are able to do this in the foreseeable future.

ManofLeisure_2

Goldiegirl wrote: »

I get the impression that your corporate culture is a masculine jungle, populated by a load of alpha males, all vying to be the top dog, and at any sign of perceived weakness the pack will turn on the weaker animal.

Crikey Goldiegirl, what an image you have created

ManofLeisure_2

MarineLife, whilst I admire your 'considered' approach to retirement and in particular to your financial situation, my feeling is that you should throw caution to the wind and enjoy the sense of freedom 'spontaneity' brings .

redux

Goldiegirl wrote: »

Gosh, how archaic! Last time I looked it was 2015, I thought those sorts of attitudes were left behind years ago!

Sorry to drift a bit from the subject and risk contentiousness, but we only have to see the likes of Donald Trump on the TV, simplistically braying hatred of immigrants and religious groups and women and any others he can categorise as different or in his way, to realise that some attitudes are very much alive at the top of some businesses.