FIRE - How did your Boss/Colleagues take the news?

Thrugelmir

Sea_Shell wrote: »

I have to do what's best for me, not worry about their feelings, bad timing etc of work or how it might impact my colleagues, left to pick up the workload.

Keeping oneself active both physically and mentally will keep you feeling young. Inactivity is more likely to bring about an early grave. Decisions need to be made with careful consideration.

Sea_Shell

Thrugelmir wrote: »

Keeping oneself active both physically and mentally will keep you feeling young. Inactivity is more likely to bring about an early grave. Decisions need to be made with careful consideration.

Actually my job (being only part-time already) doesn't have much to offer in helping me stay active both physically and mentally. I'd actually have more time to get out and about in the fresh air once not working. And keeping on top of our financial spreadsheets is enough mental activity for anyone!!!! (38 accounts of various types at last count!!:eek:) That's almost a part-time job in itself.

fred246

FIRE takes a lifetime. At the start of my career there was no internet and I don't think FIRE existed but I was following the principles unknowingly. I had a nice house and I hated the 'your home is at risk' so I wanted to pay the mortgage off. I probably thought "pay the mortgage off and then buy posh cars". I discovered FIRE and thought I'd rather do that than have a posh car. I received an inheritance which changed it from 'poor retirement' to 'comfortable retirement'. I think people thought it was more than it was. I had a big argument with a new boss and gave my notice in. Without that argument I sometimes think I may have done another year or two to change it to 'rich retirement'. I decided I was always going to retire just before summer. So in reality without the argument maybe another 12 months. I hope to look back and say 'thank you for the argument. I had a great summer and money was never a problem". If the argument had been at the start of my career it would have just been part of the ups and downs of working life. At the end I just thought "I don't need this. Goodbye".

Sea_Shell

One other, more personal, element to my original question....more controversially...

How have you all managed your family's expectations of your "availability" since retiring?

Do they see you as being "on hand" to help with lots of things now?
Do you feel guilty for wanting your retirement for "you"?
Have you kept it "hush hush", at least for a little while, to give yourself some breathing space?

lisyloo

Wenlock wrote: »

Ultimately, getting out with your health and sanity (almost) intact is all that matters.

I agree, but I am suprised people stay in jobs they hate for so long although I appreciate it’s not always easy.

A few years ago I took a career diversion.
I had to take a 25% pay cut to go in at a more junior level, but I enjoy my new role a lot more.

Can anyone throw some light on why more people who hate their jobs don’t consider alternatives, or do they try and fail?
I understand making a compromise for example for a nice commute, but I’m struggling to understand staying in a job you hate without trying to change things.

Many companies do (albeit sometimes slowly and reluctantly) allow people to change roles and stay with the same firm.

Doglegger

lisyloo wrote: »

I agree, but I am suprised people stay in jobs they hate for so long although I appreciate it’s not always easy.

A few years ago I took a career diversion.
I had to take a 25% pay cut to go in at a more junior level, but I enjoy my new role a lot more.

Can anyone throw some light on why more people who hate their jobs don’t consider alternatives, or do they try and fail?
I understand making a compromise for example for a nice commute, but I’m struggling to understand staying in a job you hate without trying to change things.

Many companies do (albeit sometimes slowly and reluctantly) allow people to change roles and stay with the same firm.

I think I've responded to the self same question posted by you before!? Not sure what industry or service you work in but there's actually a big bad world out there that can be harsh, sometimes brutal but financially rewarding.
My family's financial security comes way and above my own personal comfort in my employment. I've said it before in posts that I dislike my job intensely but it gives us a standard of living we could never have otherwise and, more importantly, a far shorter working life than would be possible elsewhere. I make the most of my time away from work which keeps the balance reasonably bearable.
Slightly insulted that you see those who do work they don't like as failures. I don't think my IFA would agree with you at all.

davidscot

lisyloo wrote: »

I agree, but I am suprised people stay in jobs they hate for so long although I appreciate it’s not always easy.

A few years ago I took a career diversion.
I had to take a 25% pay cut to go in at a more junior level, but I enjoy my new role a lot more.

Can anyone throw some light on why more people who hate their jobs don’t consider alternatives, or do they try and fail?
I understand making a compromise for example for a nice commute, but I’m struggling to understand staying in a job you hate without trying to change things.

Many companies do (albeit sometimes slowly and reluctantly) allow people to change roles and stay with the same firm.

I think personally the most telling part is your quote of 'I had to take a 25% pay cut'
Not many people could afford to take that much of a hit, although I am glad it worked out for you. Sometimes the need for money outweighs the desire to look for alternatives which may be out there.

crv1963

lisyloo wrote: »

I agree, but I am suprised people stay in jobs they hate for so long although I appreciate it’s not always easy.

A few years ago I took a career diversion.
I had to take a 25% pay cut to go in at a more junior level, but I enjoy my new role a lot more.

Can anyone throw some light on why more people who hate their jobs don’t consider alternatives, or do they try and fail?
I understand making a compromise for example for a nice commute, but I’m struggling to understand staying in a job you hate without trying to change things.

Many companies do (albeit sometimes slowly and reluctantly) allow people to change roles and stay with the same firm.

I don't think it is that simple. People become trapped by their income level, they reach a standard of living and either they or their partners/ families/ retirement plans mean that they cannot afford to reduce this.

My wife feels that she is such a case, unwilling to take a large drop in standard of living, so feeling trapped at current income level with only the plan/ savings being made for an early retirement as her motivation for going to work.

MallyGirl

crv1963 wrote: »

I don't think it is that simple. People become trapped by their income level, they reach a standard of living and either they or their partners/ families/ retirement plans mean that they cannot afford to reduce this.

My wife feels that she is such a case, unwilling to take a large drop in standard of living, so feeling trapped at current income level with only the plan/ savings being made for an early retirement as her motivation for going to work.

Same here. I have already taken a pay cut of more than 25% once in my career to allow me to work part time, and from home, to spend time with my toddler. At this point I am sticking it out to the end, whenever that turns out to be, because it allows me to Sal sac to use the full £40k pension contribution allowance.
I am still hoping that a restructure at some point makes me redundant but I don't think I am that lucky.

Triumph13

Sea_Shell wrote: »

I thought I'd ask this here, rather than the Employment section of the forum, as I think it's more relevant.

For any of you that have put your FIRE plan into action, and retired early, how did your resignation go down at work? Especially if you were under 55.

Did you just give your standard notice, or more warning?

I told everyone years in advance that I was planning to go in 2019 or 2020, then when I brought it forward to 2018, when I was 52, I gave them several months notice of my intended notice. As my boss retired shortly before me it was important to be open so they didn't pass me his workload.

Did an "event(s)" at work push to you towards making that decision, sooner rather than later?

Hitting the LTA reduced the effectiveness of continuing further, then I decided I didn't want to stay around for major upheavals at work planned for Oct 2018 so brought my date forward to that. Said upheavals got postponed for a year, but by then I'd decided it was time to go.

Did they have any idea about your financial circumstances beforehand?

Yes, because I'd been open.

Did you face any jealousy or hostility in being able to leave, during your notice, or any "it's alright for you" type comments?

Lots of jealousy and lots of 'you can't leave we need you!' - which was nice. No hostility. I've ended up staying on 1 day a week until the planned upheaval which has been much appreciated by them and eased the transition for me.

OR did you just say you'd had a win on the lottery!!!?

No need. I'd been busily advising everyone else on how to maximise their pensions for a few years.