I am tired with this place and thinking of moving out, but then I think it might be same everywhere. Maximizing profit is the only goal in corporate world, that's why we have all these age discrimination, outsourcing, h1b, etc. Though I am a PhD with very successful career so far, I wouldn't do this again given a choice. Thinking of giving up my field completely and do something more fulfilling. What kind of f**king life is this where you have to justify your existence every few months? Where is dignity, honor or trust in this? May be I am not fit anymore to be in the corporate world, because I think of leaving it everyday, especially since ACT. When can I retire? What is your retirement target amount? Is $1M good target to live a simple life outside California for two?
17 replies (most recent on top)
you are right. It is no life. Life will begin again only when you leave. trust me - I've been there- seen , done it all. Out now for a few years. Live a much better life now.
With million bucks you could try to start a mmj buisness
If you want something different, try teaching English overseas in a country like Thailand, Korea or Mongolia. Really cheap living too.
You don't have to earn what an engineer earns in order to save that much @1kuy. I was a non-exempt employee all my life and did it and retired early to boot. it's all about living below your means and frugality, not about how much engineers earn.
-wpc
First world problems, OP! If I had a million saved and were as unhappy as you are, I'd be out the door. Most Americans have no where near that kind of 401k. Because they are not making anywhere near what US engineers get for starters. My financial advisor says 1M would be plenty if you live frugally. As soon as my severance runs out, I am living on $2K a month SS. You ditch the McMansion, drive an old used car (one per family, not one per family member) and don't take expensive vacations.
waves to 1hcj. :)
-wpc
Nice to hear that there some MMM followers among the Intel colleagues!! I would shoot for the following formula
Yearly expenses x 33
And the money invested in index fonds with stocks and bonds
Good luck
Retirement age 60, need 2M in the bank, no debt and a house all paid off in a low tax state, and then all will be good. Had a plan, but my boss decided to phuck me, so on to a new gig.
Go live in the Philippines. It's not too bad here. Everyone speaks English and your money should last.
Try some monte carlo simulations here to see if your 1M will last:
http://www.firecalc.com/
FIRE = Financially Independent, Retire Early
You probably need a bit more...
"age 49, no kids, very good health of both, no debt other than mortgage, enough equity in home to buy a small house in CO, AZ or TX."
Even if you own the home, you need to budget property taxes, insurance, maintenance as you may well live for another 40 years.
$1M is not a lot to see you through 40 years (or more) especially crossing the gap to medicare and social security (which will be reduced as you won't have 35 years of contributions?) My guess is that it would end up being a significant lifestyle downgrade for you, especially after health insurance costs.
Honest advice would be to seek alternative employment that inspires you and reignites your passion.
Thank you for the responses. @wpc little more info about me, age 49, no kids, very good health of both, no debt other than mortgage, enough equity in home to buy a small house in CO, AZ or TX. Will be eligible for retirement in 2018. As hdy mentioned, I just feel like I am wasting my time, nothing useful is valued and no one gives a damn about real contribution. Each day we play this stupid visibility game, we become less engineer, less human, and loose some self-respect. I would rather do something which matters, even if it doesn't pay much. Two third life is gone, don't want to spend any more of it just for the paycheck.
r/financialindependence
If you feel you are wasting your time, then you can do much better things.. go with your intuition.. I quit intel because I felt the same, I felt like wasted talent.. I can do much more and solve much more complex problems.. at intel there is too much diplomacy and heavy lifting to move things.
3 fiddy
You didn't give a lot of info (age, health, debt vs. debt free) so it's a little hard to answer,
IMHO $1M is enough if it's truly a simple life and no debt/mortgage. I suggest checking out this site:
Mr. Money Mustache — Early Retirement through Badassity - http://www.mrmoneymustache.com/
I did it at age 58 (the 10 yr plan). For me... I was just done working. I didn't like the BS & weirdness at Intel, and honestly, I want to do what I want to do, when I want to do it so..... a plan to retire early was implemented and realized. :) I couldn't be happier.
My advice if after doing some soul-searching, checking out the website above, and doing any other reading to figure out if it's doable in your situation... do like I did. I waited for a package. Trust me, that was extremely hard because I was developing an attitude by then (sounds like you might be too. No offense). :) The plan after becoming eligible in 2015 was wait for a package, or until I couldn't stand it a moment longer. The latter ALMOST won out. lol
Good luck with whatever you do.
You could make do on a million if you are willing to live in an inexpensive area. I stayed too long thinking i needed more and more. Glad now that i got forced out. Life after intel has been good.