How strong are my golden handcuffs

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DiMAn0684
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Re: How strong are my golden handcuffs

Post by DiMAn0684 »

I'd stick it out. As others have said, once you set the date for yourself it will be much easier. You also have 3 weeks of time off, and maybe you'll still be able to work from home 1-2 days/wk. I know you have given us % and indicated that the golden handcuffs are not a significant chunk of your NW, but it is still a significant amount of money. Likely there's enough $ to dramatically improve the situation or a person / organization you care about, and that's what would motivate me to stay if I were in your shoes.
MoonOrb
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Re: How strong are my golden handcuffs

Post by MoonOrb »

I am firmly in the camp of "go back to the office for a week and see how it is." You can kick the can down the road for a little.

You may find that you hate being back in the office--go on and quit! You may find that you actually like it (okay, probably not, but who knows?). You may find that it's really not that great but not as awful as you're imagining. Maybe something unexpected happens, like you can work a more flexible schedule than they're telling you right now. Bottom line: you can kick this can down the road for another six weeks at least and decide then.

Also, this is probably a good time to quote Tom Cruise's character from A Few Good Men: "Harold, it's a hockey season."
PowderDay9
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Re: How strong are my golden handcuffs

Post by PowderDay9 »

MAKsdad wrote: Tue Jul 27, 2021 10:14 am From a retirement standpoint, I am not really concerned about the numbers (my spouse and I are both 44, and we have a projected WR of right around 1.5% right now).
MAKsdad wrote: Tue Jul 27, 2021 10:49 am I don't honestly care about how much money I have, as long as I have enough.
MAKsdad wrote: Tue Jul 27, 2021 12:19 pm I was originally planning to retire 2 years ago. Some family matters kept me working longer than I planned, and then once COVID hit I felt it was silly to retire when I was getting paid to stay home anyway. So mentally, I have been ready to call it quits for a while. This isn't really a snap decision at all.
These are your comments that would impact my decision. You have a ridiculously conservative 1.5% WR, you don't care about how much money you have (as long as you have enough, and you do), and you were planning to retire 2 years ago.

So why would you go back to work in the office?

I would put in your notice and when your manager asks why, tell them how you feel about remote working. Maybe they'll want you to stay remote to help transition and you can stay 4 more months. If not, you walk and enjoy the extra 4 months off and an early retirement.
Paul78
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Re: How strong are my golden handcuffs

Post by Paul78 »

To me it is more about what your goals are when you are dead not alive. Based off your numbers even if things go bad you will have more than enough for your life. But who do you want to live the remainders for. If that is really important to you I would work the extra months. If not that important (or you feel you will leave enough regardless) than quit. Why? Well who the heck knows how many more good months you have. Why give up 4 of those months when you don't have to. Heck in "best" case maybe you have 400 pretty solid months left (ie pretty healthy physically/mentally). You are still giving up 1% of that by staying.
milktoast
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Re: How strong are my golden handcuffs

Post by milktoast »

I would personally tough it out.

But to make it more tolerable, I'd take all my vacation between reopening and vesting. Three weeks of vacation plus holidays almost covers Thanksgiving - New Years.

And book a mid January vacation to somewhere nice. That way you can start winding down during November in preparation for your vacation, come back, give two week notice, never wind up again, then head out on vacation.

So really it's only 6 - 8 weeks of solid in office work.
tomsense76
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Re: How strong are my golden handcuffs

Post by tomsense76 »

What exactly is the tradeoff? Do you still live in the same city as work? Or did you move during the pandemic? How much effort is involved with going back? How hard are they willing to press the issue?

If I had moved somewhere else and settled in, I might be reluctant to return. It would be a non-trivial amount of effort.

If working longer was something I wanted to do, might try to work out an arrangement with my boss (if we were on good terms). If that wasn't feasible (or I just wanted more options), I might look for another job. If you have a lot of flexibility (money saved up/easy to walk away), which sounds like you do, would start negotiating more aggressively. I suspect you have a lot more power in this situation than you might think and would suggest you use that to your advantage.
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cockersx3
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Re: How strong are my golden handcuffs

Post by cockersx3 »

Great question - I am going through the same question in my house, although the timing is more like 6 months.

I'd recommend re-reviewing your company's bonus policy to make sure there haven't been any changes or updates to it recently. At my MegaCorp, they recently changed the policy to push out the payment date by a few months. The change was NOT well communicated, basically just a throwaway line at the end of a mass email that covered something completely unrelated. Took my some (discreet) digging to confirm that this is in fact what happened. (Pretty sneaky IMO, but unfortunately it's par for the course at my MegaCorp lately.) If it wasn't for that change I would be in the exact same boat as you timing-wise :annoyed
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StevieG72
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Re: How strong are my golden handcuffs

Post by StevieG72 »

4% is a pretty strong golden handcuff! I would easily hang in there for a few months.
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barnaclebob
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Re: How strong are my golden handcuffs

Post by barnaclebob »

Normchad wrote: Tue Jul 27, 2021 4:18 pm The majority voice here is to stick it out. I’m really surprised by that, given that the OP could *double* their anticipated spending, and still be a super low 3% withdrawal rate.

Today I learned how easy it is to put somebody in golden handcuffs :)
Id call these golden ankle weights. An annoying sum to lose and not a huge inconvenience to stay. Handcuffs would want to keep him there a year or five. 400k is a lot of money even for someone with a high 7 figure to low 8 figure portfolio.
sfnerd
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Re: How strong are my golden handcuffs

Post by sfnerd »

You can do whatever you want. However, you've already earned 2/3s of that payout, so personally I would feel that I was stepping away from earned money. If you feel that you can't continue, of course, don't. But if you can, work through the final 4 months, prepare your team for your exit, and leave gracefully.

Once you're at the point of leaving, just tell your boss your situation. It' simply not worth it for you to work from the office. If the culture that they want is an in-person one (which is totally legitimate... remote work is quite isolating and boring for many), then it's simple: you don't have a match, and that's fine. It's the same as if your employer took the business in a direction you weren't excited about. Sometimes this happens.

If they can't accommodate, then just leave on good terms, and keep the relationships in tact.

Then, enjoy your retirement, or look for a remote-friendly job.

Anyway, that's what I would do, and have done in the past (though not because of remote work, more because of the job no longer being exciting to me).
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TomatoTomahto
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Re: How strong are my golden handcuffs

Post by TomatoTomahto »

Normchad wrote: Tue Jul 27, 2021 4:18 pm Today I learned how easy it is to put somebody in golden handcuffs
:sharebeer
I get the FI part but not the RE part of FIRE.
random_walker_77
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Re: How strong are my golden handcuffs

Post by random_walker_77 »

LadyGeek wrote: Tue Jul 27, 2021 4:09 pm
random_walker_77 wrote: Tue Jul 27, 2021 3:35 pm ...Can you take an unpaid leave (or sabbatical)? Ask for 3 months off and see what happens? ...
:!: Caution - Taking an unpaid leave of absence will drop ALL of your benefits - life insurance, matching employer contributions, etc.. Yes, the company can legally do that.

I took a 30-day leave of absence just before I retired last year. Three weeks into the leave, my company let me know that COBRA kicked in. That was my only hint that everything was dropped. COBRA was the only reason my medical continued. At that point, I told them I'm not coming back.
Yes, that is customary, but if that allows OP to run out the clock to a large payoff, it's worth it. Compared to quitting now, and also losing all benefits, an unpaid leave would be nice. Also, working 2 months in Jan/Feb has a larger take-home payoff compared to 2 months now. Much more funds can be taken tax-free through 401k's, or taken at low ordinary income rates.

I've also heard of some places where equity compensation, such as RSUs, continued to vest during a LOA...
HopeToGolf
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Re: How strong are my golden handcuffs

Post by HopeToGolf »

At 44, assuming you are relatively healthy, I would stick it out for 4 months. I would then try to get some sort of package to get laid off. As others have noted, with vacation and holidays it really is not that much time to spend working. I would consider BTD (blow that dough) with the 4%…pay for a new toy, a car, home repairs, etc.
MikeG62
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Re: How strong are my goldern handcuffs

Post by MikeG62 »

MAKsdad wrote: Tue Jul 27, 2021 12:19 pm I am not bright enough to multi-quote, so I'll address a handful of things here:

- In terms of timing, as long as I'm employed on 12/31, I will get paid my bonus. If I waited until then to resign, I would tell management that I would work my notice period remotely...at that point, if they told me to just leave the day I notify them, I wouldn't be upset.

- I was originally planning to retire 2 years ago. Some family matters kept me working longer than I planned, and then once COVID hit I felt it was silly to retire when I was getting paid to stay home anyway. So mentally, I have been ready to call it quits for a while. This isn't really a snap decision at all...if we had gone back full time in March, I'd have quit then for sure. The only issue is that we're now so close to year-end/vesting that it's altering my thought process.
It's a personal decision only you can make, but if in your shoes I'd stay till 12/31. I'd then tender my resignation on 1/2 and give them whatever notice you feel is reasonable. You won't likely have another option to increase your net worth by 4.0% with 5 months worth of effort. Look, you know your job and may be able to put in on auto pilot (so to speak) for the duration of that time. It is mentally very liberating once you know you've made the decision to call it a career. It is amazing how much stress just peels off.

I early retired at 53 for what that is worth. So, I've been down this road myself before. I stayed longer than I initially expected to further feather the nest. Zero regrets.
Last edited by MikeG62 on Wed Jul 28, 2021 8:35 am, edited 1 time in total.
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AllMostThere
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Re: How strong are my golden handcuffs

Post by AllMostThere »

Op, you have put your family into a great financial position with only a 1.5% WR. You have done great. I totally get the desire to not go back. As others have suggested, the additional 4% of net worth increase and future compounding for only 4-6 additional months effort will go a long way to cushion your family. Let me offer a reframe of the situation based upon a personal experience that changed how I viewed the working world. About 20 years ago, I had a Supervisor that would drag his entire staff to an annual seminar of leadership and entrepreneurism, which would have a day of big name motivational speakers ranging from sports figures (Mohammed Ali) and other current leaders (Barbara Bush), etc. At one of these seminars, I was captivated by the words of Zig Ziglar. Every time I had a BS day at work and wanted to move on, I would remember his words (paraphrased) - "You don't work because you LOVE THE WORK, you work because of the ONE'S YOU LOVE!" Please remember these wise words from Zig for the next 4-6 months for the 4% Brass Ring and don't allow employer financial actions in 2022 to push you into OMY. You appear to have won the game, so stay the course. Well done! :beer
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Watty
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Re: How strong are my golden handcuffs

Post by Watty »

MAKsdad wrote: Tue Jul 27, 2021 2:32 pm
Watty wrote: Tue Jul 27, 2021 2:29 pm One other thing that may not have been mentioned is that if you go back to the office for a week and find it unbearable then you can still quit. If that happens then that would also help you be sure that you made the right choice.
This seems like an incredibly obvious point, but I thank you for making it.
There are some complexities to that which may be less than obvious.

The twist is that if you decide go back into the office the first week of September then you need to look at where the timeline goes from there. That is a lot more complicated than if you just gave notice that your last day will be September 1st.

If you decide to go back into the office you need to be prepared that you might decide to stay through the end of the year, which would involve scheduling your vacation time.

It could make sense to schedule your vacation for the last three weeks of September since the weather would be better then.

There is a chance that the company will change the decision about requiring people to come in the office by the time you get back from vacation so you might not want to give your two weeks notice until you get back from vacation at the end of September.

If you give your two weeks notice on October 1st then your last day would be in the middle of October. At that time there would only be 2.5 months until the end of the year including several holidays so it would be real tempting to work through the end of the year.

There are all sorts of permutations about scheduling the vacation or not but assuming that you want to give two weeks notice after you make your decision after working the first week of September that would still reduce the gap between your last day and the end of the year.

As a side note taking a vacation shortly before you leave a job has some advantages for everyone involved. My situation was totally different but when I was getting ready to retire the company I worked for did not pay you for your unused paid time off when you left the company. :twisted: This meant that it made sense to use it all up before you left the job. I knew that I was going to retire and I had three weeks paid time off to use up so I took a three week vacation. To take a vacation that long I had to schedule it far in advance so I was able to manage my work to finish up my big projects before I left on vacation, or at least get them to a good stopping point. I also made sure that people were cross trained to handle my day to day responsibilities while I was on vacation.

Not long after I returned from vacation I gave my two weeks notice that I was going to retire. A day or two later I had a meeting with several of my department managers about how to distribute my work to other people. That was easy since I was between large projects and the people who handled my day to day work while I was on vacation knew how to handle it when I was gone. There were only a few other things that needed to be passed on but that did not take more than a few days. This meant that I did not need to feel bad about leaving my teammates with a mess because I left suddenly. After I left they were a bit short staffed but that was unavoidable and not my problem.
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Watty
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Re: How strong are my golden handcuffs

Post by Watty »

One more thing I thought of.

At many, but not all, companies your health insurance will be paid through the end of the month when you leave the job. If your company is like that then if your official last day is September 1st then you would save a months COBRA costs compared to if your last day was August 31st.
slyfox1357
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Re: How strong are my golden handcuffs

Post by slyfox1357 »

I'm usually in the camp of 'there's always going to be some golden handcuffs no matter when' but in this case risk/reward is too skewed to reward that I would tough it out for 4 months. Prime holiday season and use you PTO generously. Mentally break it up into few week chunks and it will be over in no time.
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MAKsdad
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Re: How strong are my golden handcuffs

Post by MAKsdad »

Thanks, all. Busy day but I'm still reading. I really appreciate everyone's perspectives in this thread.
EddyB
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Re: How strong are my goldern handcuffs

Post by EddyB »

winterfan wrote: Tue Jul 27, 2021 10:53 am I'd stay, but I think four months is nothing and a 4% payout is worth it. That will take your right up to the holidays and then you can leave. If it were one more year or two, then no.
Yep, especially the first four months back.
anon3838
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Re: How strong are my golden handcuffs

Post by anon3838 »

MAKsdad wrote: Tue Jul 27, 2021 10:14 am My company has announced a full time return to office beginning September 1. For a variety of reasons, remote work has really suited me and my family's dynamic, and I'm thinking about retiring rather than go back full time into the office. From a retirement standpoint, I am not really concerned about the numbers (my spouse and I are both 44, and we have a projected WR of right around 1.5% right now).

The issue is golden handcuffs. If I walk away at the end of August, I'm leaving a lot of money on the table. I could add another 4% to our current net worth if I worked through the end of the year, due to equity vesting and earning my '21 bonus (I'm reluctant to post the actual $ amount I would be foregoing just because I feel like it would bias the discussion).

Long story short, I don't feel like I need the extra money, but the practical side of me thinks that I would be a moron to pass it up over 4 months of work.

Any useful insights?
I would stick it out to the end of year.

Enjoy your retirement!
FreedomHawk
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Re: How strong are my golden handcuffs

Post by FreedomHawk »

Does your company allow an extended leave of absence? If so, ask for one. Then come back and quit.
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Wricha
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Re: How strong are my golden handcuffs

Post by Wricha »

I would suspect your boss has a pretty good idea that you are leaving. I am sure your boss has or is working on a plan B. Any chance of working out an arrangement that you can get your bonus and your boss gets a better transition? Otherwise, there seems to be more at stake for you then just working for four months. if I am wrong and it’s only about the money/work. I would look at what the bonus would do to my withdrawal rate and not at the absolute dollars of the bonus. Then base my decision on this analysis.
nerdymarketer
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Re: How strong are my golden handcuffs

Post by nerdymarketer »

Alternatively, when many folks look to retirement, beyond decompressing they also start to look to how they can impact the world for the better through part-time volunteering, etc.

So you could view it as 4 months of non-profit work and simply donate all the money to a DAF and slowly donate from that as you have non-profits you're excited about over the next few decades.

Given the $$ it sounds like you're talking about, I suspect this will be by _far_ the highest leverage/hour of any non-profit work you do for the rest of your life.

4 months will pass quickly if each day you visualize the impact you'll have with that money.

TBH, that's a big reason why I keep working. We would be okay without the money, and while I enjoy my work, there are other things I enjoy too. And if I were retired, I could still do the fun parts of my job as a hobby and quit the BS parts. But when I consider the impact of donating my salary, then it's still worth doing the day job thing.

Just depends on the legacy you want to look back on when you died... how will you use that 4 months if you stop working now?
reader79
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Re: How strong are my golden handcuffs

Post by reader79 »

I would stick it out for four months. In the scheme of things, it's hardly any time for a non-trivial return on your investment.
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Wannaretireearly
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Re: How strong are my golden handcuffs

Post by Wannaretireearly »

Haven't read all posts. Apologies if this has been asked.
Op: what would you do between now and Xmas?
Do you have a plan? Note, plan could be to do nothing...for a while?
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Darwin
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Re: How strong are my goldern handcuffs

Post by Darwin »

anon_investor wrote: Tue Jul 27, 2021 10:22 am
Afty wrote: Tue Jul 27, 2021 10:20 am I’d probably stick it out for the 4 months.
+1. For a 4% boost to NW it sounds worth it.
The new rule-of-thumb is that there's no loyalty of employer to employee. As a result, the same in reverse.
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anon_investor
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Re: How strong are my goldern handcuffs

Post by anon_investor »

Darwin wrote: Wed Jul 28, 2021 10:36 pm
anon_investor wrote: Tue Jul 27, 2021 10:22 am
Afty wrote: Tue Jul 27, 2021 10:20 am I’d probably stick it out for the 4 months.
+1. For a 4% boost to NW it sounds worth it.
The new rule-of-thumb is that there's no loyalty of employer to employee. As a result, the same in reverse.
Does that mean you would say for the money or leave now?
tesuzuki2002
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Re: How strong are my golden handcuffs

Post by tesuzuki2002 »

MAKsdad wrote: Tue Jul 27, 2021 10:14 am My company has announced a full time return to office beginning September 1.

If I walk away at the end of August, I'm leaving a lot of money on the table. I could add another 4% to our current net worth if I worked through the end of the year.

Long story short, I don't feel like I need the extra money, but the practical side of me thinks that I would be a moron to pass it up over 4 months of work.
Any coworkers that you'd care to go see in person again? Maybe have lunch with? Going into the office could make that easier and catching up... might be fun.

You mention a lot money... and possible bias for the amount... could be $100K could be $1MM ... I'm with you on the 4% part.. that's not going to make or break anything... your portfolio likely goes up and down that much quarter to quarter and you'd think nothing of it.

I'm in a similar situation, but my hold on date goes until Dec 2025... Seems like a long time.. but it will more than double my Net worth.. so it seems like a good option to keep on keepign on till then... and I enjoy the work as well.
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billthecat
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Re: How strong are my golden handcuffs

Post by billthecat »

Have you considered what you might do with the money other than just pocket it? Someone mentioned a donor advised fund. Maybe a fund to help out small businesses (especially retail) in your community, à la the Barstool Fund?

Donate to your alma mater? Leave fat tips around town?
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galactica1971
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Re: How strong are my golden handcuffs

Post by galactica1971 »

Everybody is different/has their own priorities/is at different points of "ending it" with their employer.

If you're in an otherwise good place with your employer (ie things are cordial and you're not suffering a mental breakdown due to work), why not consider what I did... Work those 4 months and spend the money on a Ferrari, gold watch, something for your parents, or whatever pointless decedant item brings you joy. It will taste really good, I promise you. Consider it party money or change somebody's life with it.

Not exactly a boglehead investor approach, but there's nothing wrong with a bit of self indulgence once and every now and again.
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Re: How strong are my goldern handcuffs

Post by galactica1971 »

Darwin wrote: Wed Jul 28, 2021 10:36 pm The new rule-of-thumb is that there's no loyalty of employer to employee. As a result, the same in reverse.
This is sad, but so true. I used to malign the Millennials for their work ethic, now I'm starting to see they're not as stupid as I first thought.
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sf_tech_saver
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Re: How strong are my golden handcuffs

Post by sf_tech_saver »

MAKsdad wrote: Tue Jul 27, 2021 10:14 am My company has announced a full time return to office beginning September 1. For a variety of reasons, remote work has really suited me and my family's dynamic, and I'm thinking about retiring rather than go back full time into the office. From a retirement standpoint, I am not really concerned about the numbers (my spouse and I are both 44, and we have a projected WR of right around 1.5% right now).

The issue is golden handcuffs. If I walk away at the end of August, I'm leaving a lot of money on the table. I could add another 4% to our current net worth if I worked through the end of the year, due to equity vesting and earning my '21 bonus (I'm reluctant to post the actual $ amount I would be foregoing just because I feel like it would bias the discussion).

Long story short, I don't feel like I need the extra money, but the practical side of me thinks that I would be a moron to pass it up over 4 months of work.

Any useful insights?
My measure of golden handcuffs are if my job is paying me consistently more than my portfolio does (say 7% of portfolio gains is more than job income). This doesn't work for all phases of life, but for those mid 40's 'should I just retire' blues it has helped me see how powerful my job is as a source of income vs. my portfolio.
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interwebopinion
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Re: How strong are my golden handcuffs

Post by interwebopinion »

Six of one and half dozen of the other. Given market growth, you'll make up for the 4% in maybe a year or so. So flip a coin.
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Re: How strong are my goldern handcuffs

Post by jharkin »

Onlineid3089 wrote: Tue Jul 27, 2021 10:29 am I'm torn. If I could gain that much by staying four months, I'd probably stay. However, if I could retire and comfortably live off a 1.5% withdrawal rate I would probably already be retired making the entire question moot.
My same thinking.. at first my gut said 4 months for 4% is a no brained at a (relatively) young age…

But then I was taken back to that 1.5%SWR. If that includes accounting for pre-Medicare health and and any possible big one time expenses likecollege tuition, etc it’s a no brainer to walk. You could put it all in bonds and fixed income and probably still make it to SS age no problem.


Just make sure you have thought through all the variables…
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Re: How strong are my golden handcuffs

Post by LeftCoastIV »

I have a similar vesting situation both this year and next. For me, the way I think about it is: If someone said to you, "If you work for me for four months, I'll pay all your living expenses for the next 2-3 years", I would say yes unless the job was absolutely terrible.

I'll also add that I've started to go back into the office a bit, and surprisingly I find it to be a refreshing change as long as it's hybrid and generally at my discretion.
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MAKsdad
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Re: How strong are my golden handcuffs

Post by MAKsdad »

Wricha wrote: Wed Jul 28, 2021 3:32 pm I would suspect your boss has a pretty good idea that you are leaving.
Curious why you would think this...I actually feel like he'll be very surprised when I leave (whether it's now or early next year).

Lots of people asking about whether I can negotiate a hybrid situation for the next four months. Obviously that would be ideal, but it's a non-starter. I have been having conversations for over a year about hybrid (mainly for my team, but also for me), and there is absolutely no flexibility on that front.

My spouse and I have been talking a lot about this and we're still on the fence.
Jags4186
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Re: How strong are my golden handcuffs

Post by Jags4186 »

MAKsdad wrote: Thu Jul 29, 2021 7:32 am
Wricha wrote: Wed Jul 28, 2021 3:32 pm I would suspect your boss has a pretty good idea that you are leaving.
Curious why you would think this...I actually feel like he'll be very surprised when I leave (whether it's now or early next year).

Lots of people asking about whether I can negotiate a hybrid situation for the next four months. Obviously that would be ideal, but it's a non-starter. I have been having conversations for over a year about hybrid (mainly for my team, but also for me), and there is absolutely no flexibility on that front.

My spouse and I have been talking a lot about this and we're still on the fence.
Do you have stocked up PTO you can selectively use? You know, take every Monday and Friday off? Call in sick every now and then? I mean, I’d be willing to suck it up for 4 months for that much money. Is there *any* possibility of using FMLA for some of the remaining time?
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MAKsdad
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Re: How strong are my golden handcuffs

Post by MAKsdad »

Jags4186 wrote: Thu Jul 29, 2021 7:36 am
MAKsdad wrote: Thu Jul 29, 2021 7:32 am
Wricha wrote: Wed Jul 28, 2021 3:32 pm I would suspect your boss has a pretty good idea that you are leaving.
Curious why you would think this...I actually feel like he'll be very surprised when I leave (whether it's now or early next year).

Lots of people asking about whether I can negotiate a hybrid situation for the next four months. Obviously that would be ideal, but it's a non-starter. I have been having conversations for over a year about hybrid (mainly for my team, but also for me), and there is absolutely no flexibility on that front.

My spouse and I have been talking a lot about this and we're still on the fence.
Do you have stocked up PTO you can selectively use? You know, take every Monday and Friday off? Call in sick every now and then? I mean, I’d be willing to suck it up for 4 months for that much money.
All of my PTO is already allocated...a week off at the end of Aug/early Sept, a week in October and the rest of my available days around Thanksgiving/Christmas.
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Re: How strong are my golden handcuffs

Post by Nowizard »

Classic practical/logical versus psychological conflict. Ultimately, at the logical level it is advice you don't need, or as some say, we often ask for advice when we know the answer but don't like it. Psychologically, we prepare when possible for big changes, and you have not had that opportunity fully. Having had the same decision to make when diagnosed with cancer fifteen years ago, the choice was to leave work earlier than planned. Having been cancer free for more than fourteen years with ongoing financial stability, it was the correct decision. In short, individual circumstances and personal psychology define the importance of work versus other priorities at the point of decisions such as the one you are facing.

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Re: How strong are my golden handcuffs

Post by slyfox1357 »

With your PTO allocated and holidays it sounds like you'd work maybe 12 of the 16 weeks from Sept 7 through Dec 31.
That's ~55 working days or so in the office. That time will go by in a blink of an eye. Set and celebrate small milestones along the way, maximize your weekends/holidays/PTO and downshift at work (within reason). Have a good perspective, have fun with it, enjoy face to face time w/your coworkers, plan out your post-work future, call it a hard stop on 1/3/22. Done and done.
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JoeRetire
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Re: How strong are my golden handcuffs

Post by JoeRetire »

Normchad wrote: Tue Jul 27, 2021 4:18 pm Today I learned how easy it is to put somebody in golden handcuffs :)
It's trivial, if the handcuffee is willing.
Otherwise, it's impossible.

We all get to decide what is important to us.
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J295
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Re: How strong are my golden handcuffs

Post by J295 »

Only the thoughts of two people matter here.

For us, leaving $$ behind was not pertinent. Enough for us is enough.

Regardless of gross dollars (and I’m assuming the gross is “high”) I’d suggest that 4% of NW in your situation is not material.
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Re: How strong are my golden handcuffs

Post by pindevil »

Congrats! Sounds like it's time to focus on family and the things that really make you happy.
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Re: How strong are my golden handcuffs

Post by snackdog »

The WFH aspect seems immature and petulant - not a reason to quit. I would leave it out of the equation.

Obviously the near-term bonus and four months is not material to your situation.

You have been working for many years since you hit 4%. Why? Why stop now? You need a plan for your retirement date and a plan for what comes next. Retiring is one of the biggest transitions of your life and it is nearly impossible to go back to your old way of working life once you jump off the cliff. Choose the time and conditions carefully.
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MAKsdad
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Re: How strong are my golden handcuffs

Post by MAKsdad »

snackdog wrote: Thu Jul 29, 2021 10:08 am The WFH aspect seems immature and petulant - not a reason to quit. I would leave it out of the equation.

Obviously the near-term bonus and four months is not material to your situation.

You have been working for many years since you hit 4%. Why? Why stop now? You need a plan for your retirement date and a plan for what comes next. Retiring is one of the biggest transitions of your life and it is nearly impossible to go back to your old way of working life once you jump off the cliff. Choose the time and conditions carefully.
The WFH aspect is a huge factor, and it's also tied into the reasons why I've been working since I hit 4%. I have some challenging family circumstances which have kept me working longer than I "needed" to. Working from home has been a big overall positive as it relates to managing the day-to-day life for my family. When COVID hit, it seemed silly to quit working when I could work from home every day...without COVID there's no way I would still be working right now. I would have quit at the beginning of this year under "normal" circumstances. I'm not being a baby about working from home, or throwing a fit about going back into the office...I like my job better when I'm in the office. But I like my LIFE better when I'm working from home.
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Re: How strong are my golden handcuffs

Post by sailaway »

snackdog wrote: Thu Jul 29, 2021 10:08 am The WFH aspect seems immature and petulant - not a reason to quit. I would leave it out of the equation.
Valuing family life is petulant and immature?!

What a load of calvanistic claptrap.
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Re: How strong are my golden handcuffs

Post by cchrissyy »

MAKsdad wrote: Thu Jul 29, 2021 7:37 am All of my PTO is already allocated...a week off at the end of Aug/early Sept, a week in October and the rest of my available days around Thanksgiving/Christmas.
how about unpaid time off?

i have a retired family member who had a stage where they switched to a 4 day a week schedule, 80% time for 80% pay. this was still considered full time work so no loss of benefits.
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Re: How strong are my goldern handcuffs

Post by bltn »

TomatoTomahto wrote: Tue Jul 27, 2021 12:09 pm OP, how responsive do you think management will be to a surge in Delta variant cases, even among the vaccinated? Not asking for medical opinions, but it is a fact that there is an increase in so called breakthrough cases.

I personally think that you could do 4 months standing on your head, but it’s your comfort, your summer, etc. Good luck.
That old saying well describes what I ve been thinking this whole thread.
You could do 4 months standing on your head!

From your posts to this point at the end of page one, it is apparent that you think that is a lot of money to walk away from by failing to work for four months. To reach a point at age 44 where your spending is 1.5 % of investments indicates you ve been careful with your saving and spending. Like most successful Bogleheads, you re not inclined to walk away from a big financial gift.

Four months, four percent, forty four years old. You can do this.
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Re: How strong are my golden handcuffs

Post by fuddbogle »

MAKsdad wrote: Thu Jul 29, 2021 7:32 am
Wricha wrote: Wed Jul 28, 2021 3:32 pm I would suspect your boss has a pretty good idea that you are leaving.
My spouse and I have been talking a lot about this and we're still on the fence.
Just keep discussing the situation. Then discuss it some more once you start working in the office. Before you know it, it will be Thanksgiving and you'll have less than a month left. Then it will be an easy decision.
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