How strong are my golden handcuffs

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Independent George
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Re: How strong are my golden handcuffs

Post by Independent George »

MAKsdad wrote: Thu Dec 02, 2021 8:07 am
anon_investor wrote: Wed Dec 01, 2021 8:54 pm
an_asker wrote: Wed Dec 01, 2021 8:37 pm Just be prepared to "just say no" to diamond handcuffs ;-)
LOL :P

The OP might just have to start a new thread if that happens!
No new thread will be needed...14 days in the office and counting until I give notice.
Congratulations!!!! :sharebeer

Sounds like you're on your way to the best Christmas ever, covid be damned. Time to buy some tiny umbrellas to put in your drinks. I'm both incredibly happy for you, and incredibly jealous. Enjoy having your time to yourself.
Thesaints
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Re: How strong are my golden handcuffs

Post by Thesaints »

MAKsdad wrote: Tue Jul 27, 2021 10:14 am (I'm reluctant to post the actual $ amount I would be foregoing just because I feel like it would bias the discussion).
Well, shouldn't it ?
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MAKsdad
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Re: How strong are my golden handcuffs

Post by MAKsdad »

Thesaints wrote: Thu Dec 02, 2021 1:43 pm
MAKsdad wrote: Tue Jul 27, 2021 10:14 am (I'm reluctant to post the actual $ amount I would be foregoing just because I feel like it would bias the discussion).
Well, shouldn't it ?
I don't think the discussion was hampered by the fact that I never posted the dollar amount. I think if I had put the amount in the original post, there would have been a lot less good discussion. It was a theoretical exercise as much as anything.
Somethingwitty92912
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Re: How strong are my golden handcuffs

Post by Somethingwitty92912 »

MAKsdad wrote: Thu Dec 02, 2021 9:22 am
Somethingwitty92912 wrote: Thu Dec 02, 2021 9:05 am
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?
What about the four months after that? What if it was doubled? How about just one more year? There is always more money, there is precious little time.
Honestly, I think the four month timeframe worked out reasonably well for me. It was short enough to be doable without too much stress or annoyance, but long enough to make me 100% sure that I don't want to continue once the new year hits. No regrets staying for the 4 months, but not hesitation in terms of leaving in '22.
I hear you... nothing wrong with that. In my personal experience. I couldn't quit. and I shoulda. You form those habits ya know. good luck to you.
Thesaints
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Re: How strong are my golden handcuffs

Post by Thesaints »

MAKsdad wrote: Thu Dec 02, 2021 1:46 pm
Thesaints wrote: Thu Dec 02, 2021 1:43 pm
MAKsdad wrote: Tue Jul 27, 2021 10:14 am (I'm reluctant to post the actual $ amount I would be foregoing just because I feel like it would bias the discussion).
Well, shouldn't it ?
I don't think the discussion was hampered by the fact that I never posted the dollar amount. I think if I had put the amount in the original post, there would have been a lot less good discussion. It was a theoretical exercise as much as anything.
Are you saying that it does not matter whether the golden cuffs are worth 20k, or 2 millions ?
I think the absolute magnitude of money amount is always very relevant. For instance, I would not have any issue in gambling away $100, but would never put 1 million of my money at comparable risk.

In the case at hand, one could say that 20k are not enough to stay, 200k are not enough either, but surely there is an amount when one says "Heck, I'm staying for sure!"
random_walker_77
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Re: How strong are my golden handcuffs

Post by random_walker_77 »

Thesaints wrote: Fri Dec 03, 2021 1:02 pm
MAKsdad wrote: Thu Dec 02, 2021 1:46 pm
Thesaints wrote: Thu Dec 02, 2021 1:43 pm
MAKsdad wrote: Tue Jul 27, 2021 10:14 am (I'm reluctant to post the actual $ amount I would be foregoing just because I feel like it would bias the discussion).
Well, shouldn't it ?
I don't think the discussion was hampered by the fact that I never posted the dollar amount. I think if I had put the amount in the original post, there would have been a lot less good discussion. It was a theoretical exercise as much as anything.
Are you saying that it does not matter whether the golden cuffs are worth 20k, or 2 millions ?
I think the absolute magnitude of money amount is always very relevant. For instance, I would not have any issue in gambling away $100, but would never put 1 million of my money at comparable risk.

In the case at hand, one could say that 20k are not enough to stay, 200k are not enough either, but surely there is an amount when one says "Heck, I'm staying for sure!"
I'm with MAKsdad. He's projecting a withdrawal rate of 1.5%. If it turns out he's leaving 1M on the table, the sheer magnitude will unproductively bias the discussion. Even if 1M is just 10% of his investments (and would be more like 6% after taxes are paid on that income). I can see situations where it'd be entirely rational to walk away from $2M... and situations where it'd be irrational not to stay for 200K. For MAKsdad, at 66x expenses, I'm happy to take their word that they've got "enough"
gmc4h232
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Re: How strong are my golden handcuffs

Post by gmc4h232 »

MAKsdad wrote: Thu Dec 02, 2021 8:07 am
anon_investor wrote: Wed Dec 01, 2021 8:54 pm
an_asker wrote: Wed Dec 01, 2021 8:37 pm Just be prepared to "just say no" to diamond handcuffs ;-)
LOL :P

The OP might just have to start a new thread if that happens!
No new thread will be needed...14 days in the office and counting until I give notice.
Dont get cold feet - we're pulling for you.

Start reading some of the other early retirement forums if you havent already to prepare yourself for the transition.
mcraepat9
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Re: How strong are my golden handcuffs

Post by mcraepat9 »

This is an incredibly fun thread that I enjoyed reading.
Amateur investors are not cool-headed logicians.
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MAKsdad
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Re: How strong are my golden handcuffs

Post by MAKsdad »

Thesaints wrote: Fri Dec 03, 2021 1:02 pm
MAKsdad wrote: Thu Dec 02, 2021 1:46 pm
Thesaints wrote: Thu Dec 02, 2021 1:43 pm
MAKsdad wrote: Tue Jul 27, 2021 10:14 am (I'm reluctant to post the actual $ amount I would be foregoing just because I feel like it would bias the discussion).
Well, shouldn't it ?
I don't think the discussion was hampered by the fact that I never posted the dollar amount. I think if I had put the amount in the original post, there would have been a lot less good discussion. It was a theoretical exercise as much as anything.
Are you saying that it does not matter whether the golden cuffs are worth 20k, or 2 millions ?
I think the absolute magnitude of money amount is always very relevant. For instance, I would not have any issue in gambling away $100, but would never put 1 million of my money at comparable risk.

In the case at hand, one could say that 20k are not enough to stay, 200k are not enough either, but surely there is an amount when one says "Heck, I'm staying for sure!"
But if you were a billionaire, you'd probably be comfortable gambling $1 million on something, right?

Anyway, I am not a huge fan of disclosing enough information to pinpoint my exact NW, salary, etc. I did say that it was closer to $400k than $40k though.
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Quirkz
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Re: How strong are my golden handcuffs

Post by Quirkz »

MAKsdad wrote: Thu Dec 02, 2021 9:22 am Honestly, I think the four month timeframe worked out reasonably well for me. It was short enough to be doable without too much stress or annoyance, but long enough to make me 100% sure that I don't want to continue once the new year hits. No regrets staying for the 4 months, but not hesitation in terms of leaving in '22.
Glad the plan is working out well for you!
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MAKsdad
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Re: How strong are my golden handcuffs

Post by MAKsdad »

Today's the day....more to follow.
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MAKsdad
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Re: How strong are my golden handcuffs

Post by MAKsdad »

MAKsdad wrote: Tue Jan 04, 2022 7:39 am Today's the day....more to follow.
Well, I notified my boss this morning and it went very well. He said they want me to stay as long as possible to help with the transition...my plan is to work part time for a few months to help out slash ease myself into retirement. It's a damn good feeling!
EddyB
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Re: How strong are my golden handcuffs

Post by EddyB »

MAKsdad wrote: Tue Jan 04, 2022 8:56 am
MAKsdad wrote: Tue Jan 04, 2022 7:39 am Today's the day....more to follow.
Well, I notified my boss this morning and it went very well. He said they want me to stay as long as possible to help with the transition...my plan is to work part time for a few months to help out slash ease myself into retirement. It's a damn good feeling!
Sounds like the happiest of new years.
an_asker
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Re: How strong are my golden handcuffs

Post by an_asker »

MAKsdad wrote: Tue Jan 04, 2022 8:56 am
MAKsdad wrote: Tue Jan 04, 2022 7:39 am Today's the day....more to follow.
Well, I notified my boss this morning and it went very well. He said they want me to stay as long as possible to help with the transition...my plan is to work part time for a few months to help out slash ease myself into retirement. It's a damn good feeling!
Yay for you!!!
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LadyGeek
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Re: How strong are my golden handcuffs

Post by LadyGeek »

Congrats! Don't forget to enroll in Roll Call for the Retirement Class of 2022!.
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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. 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.
Reflecting on my decision, and a lot of what was discussed in this post over the months, I kept coming back to this post. I am happy to say that I was right, and my boss was totally surprised by my announcement. He also understood why I waited and didn't telegraph my intentions earlier.
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winterfan
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Re: How strong are my golden handcuffs

Post by winterfan »

Congratulations! I once worked part-time for a while in an old job to train the new hire. I was given a good-bye party by the company, but then a couple of weeks later, I went back to the office every morning. It was such a weird feeling because I was with all my old colleagues, but wasn't invited to any team meetings or functions.
Jags4186
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Re: How strong are my golden handcuffs

Post by Jags4186 »

winterfan wrote: Thu Jan 13, 2022 10:21 am Congratulations! I once worked part-time for a while in an old job to train the new hire. I was given a good-bye party by the company, but then a couple of weeks later, I went back to the office every morning. It was such a weird feeling because I was with all my old colleagues, but wasn't invited to any team meetings or functions.
That sounds amazing.
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AllMostThere
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Re: How strong are my golden handcuffs

Post by AllMostThere »

^^ +1000% :beer
It is not about how much you make; it is about how much you keep and how well you invest it. - Author Unknown | Dream as if you’ll live forever. Live as if you’ll die today. - Author James Dean
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Bogle101
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Re: How strong are my golden handcuffs

Post by Bogle101 »

Now that you have gotten lots of helpful advice and have decided to stay and then quit, can you tell us actual numbers now?
40% Extended Market | 40% S&P 500 | 10% REIT | 5% State Muni Bond | 5% Cash
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MAKsdad
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Re: How strong are my golden handcuffs

Post by MAKsdad »

MAKsdad wrote: Sun Dec 05, 2021 9:42 am Anyway, I am not a huge fan of disclosing enough information to pinpoint my exact NW, salary, etc.
This sentence is still applicable even though I've given my notice. Probably even more so in case someone I know is on here.
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Wricha
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Re: How strong are my golden handcuffs

Post by Wricha »

MAKsdad wrote: Thu Jan 13, 2022 9:27 am
Wricha wrote: Wed Jul 28, 2021 3:32 pm 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.
Reflecting on my decision, and a lot of what was discussed in this post over the months, I kept coming back to this post. I am happy to say that I was right, and my boss was totally surprised by my announcement. He also understood why I waited and didn't telegraph my intentions earlier.
I am glad it worked out for you. I didn’t go back and to understand context of my post. What I wrote was the best advise I could give given you based on the information I had at the time. Good for you that held your ground.
Minty
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Re: How strong are my golden handcuffs

Post by Minty »

MAKsdad wrote: Fri Jan 14, 2022 10:53 am
MAKsdad wrote: Sun Dec 05, 2021 9:42 am Anyway, I am not a huge fan of disclosing enough information to pinpoint my exact NW, salary, etc.
This sentence is still applicable even though I've given my notice. Probably even more so in case someone I know is on here.
Make something up! :D

Congratulations.
Core Four w/ nominal bonds & TIPS. Refi Rampage: Purchase: 3.875% 30 -> R1 3% 20 -> R2 2.375% 15 -> R3 1.99% 15 -> R4 1.875% 15
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MAKsdad
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Re: How strong are my golden handcuffs

Post by MAKsdad »

Wricha wrote: Fri Jan 14, 2022 9:51 pm
MAKsdad wrote: Thu Jan 13, 2022 9:27 am
Wricha wrote: Wed Jul 28, 2021 3:32 pm 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.
Reflecting on my decision, and a lot of what was discussed in this post over the months, I kept coming back to this post. I am happy to say that I was right, and my boss was totally surprised by my announcement. He also understood why I waited and didn't telegraph my intentions earlier.
I am glad it worked out for you. I didn’t go back and to understand context of my post. What I wrote was the best advise I could give given you based on the information I had at the time. Good for you that held your ground.
I wasn't going back to that as a matter of criticism, your thoughts definitely gave me pause at the time. I'm just glad I hadn't misread my situation.
an_asker
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Re: How strong are my golden handcuffs

Post by an_asker »

Minty wrote: Sat Jan 15, 2022 11:19 am
MAKsdad wrote: Fri Jan 14, 2022 10:53 am
MAKsdad wrote: Sun Dec 05, 2021 9:42 am Anyway, I am not a huge fan of disclosing enough information to pinpoint my exact NW, salary, etc.
This sentence is still applicable even though I've given my notice. Probably even more so in case someone I know is on here.
Make something up! :D

Congratulations.
Let's say $4 million and $800k lol ;-)
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