Tyler9000's Journal
Re: Tyler9000's Journal
Congratulations! I'm really enjoying your journal.
Re: Tyler9000's Journal
Oh god, this hits home for me. When someone at work asks me "where were you last week?", I draw a blank 30-50% of the time and it takes me a few seconds just to remember what factory I was in. My brain is telling me "Whatever, man. We don't fucking care!"jacob wrote:...... After my first month of not going to work, it felt like many months have passed(*),
(*) This feeling indicates to me that I'm _alive_ and _living_. Conversely, not being able to remember whatever I just spent the past six months doing indicates to me that I'm "dead" and should probably change track ASAP.
This also depends a LOT on how interested I am - how "in to" my work I am. Some things, I can remember all these tiny little details including exact words that people say. For other things, I forget them right away. A strong interest in what I'm doing enables me to be SO much more effective.
Re: Tyler9000's Journal
LOL!jacob wrote: I remember polishing the faucets of the kitchen sink and enjoying that I had actually accomplished something that wasn't just a piece of paperwork.
I think I'm still in that phase. I'm taking great pleasure in keeping our place tidy.
Re: Tyler9000's Journal
Day One : They Still Suspect Nothing
It's 2pm on a Monday afternoon, and despite waking up at 10 I've already accomplished more than I often do on a normal workday and am just getting started. @Jacob -- I can definitely see where you're coming from.
The morning started with coffee and the iPad on the sofa with my cat, who seems fine with the typical Saturday routine bleeding into other days. Then I got in a morning bike ride around the neighborhood, where I quickly discovered my physical fitness does not yet match my enthusiasm. Luckily, I have plenty of time to work my way up.
Riding through a suburban neighborhood in the middle of the day is strangely peaceful. It's so quiet with very little traffic (except for a short burst at noon for the lunch crowd), and the people you do see milling about all seem far less in a hurry than you're used to dealing with at this time of day. The stress-free environment had an immediate positive impact, in fact -- while just relaxing at a park bench for a few minutes and enjoying the world around me, I discovered a public water fountain a ways from my home with a great filtered water tap for filling up a water bottle. I know it doesn't sound like much, but when biking in August in Texas something as simple as a water fountain is a goldmine. It's funny how you can live somewhere for two years, but little things stay hidden until you take the time to see and process new information.
After the workout I had a shower and a nice lunch, which was much healthier and tastier than my normal work menu. Even eating after working out rather than after sitting at a computer for several hours changes your tastes for the better. I helped the DW do some laundry, picked up a thing or two, and finally sat down in a chair for the first time to write this post.
Notably, work has not called. They must not have noticed that I'm playing hooky today. Joyriding around the neighborhood on my bike while I should really be making a powerpoint presentation or filling out a TPS report feels pretty subversive, and surely someone will eventually notice and write me up or something. Until that happens, I think I'm just gonna lay low and enjoy life on the lam.
It's 2pm on a Monday afternoon, and despite waking up at 10 I've already accomplished more than I often do on a normal workday and am just getting started. @Jacob -- I can definitely see where you're coming from.
The morning started with coffee and the iPad on the sofa with my cat, who seems fine with the typical Saturday routine bleeding into other days. Then I got in a morning bike ride around the neighborhood, where I quickly discovered my physical fitness does not yet match my enthusiasm. Luckily, I have plenty of time to work my way up.
Riding through a suburban neighborhood in the middle of the day is strangely peaceful. It's so quiet with very little traffic (except for a short burst at noon for the lunch crowd), and the people you do see milling about all seem far less in a hurry than you're used to dealing with at this time of day. The stress-free environment had an immediate positive impact, in fact -- while just relaxing at a park bench for a few minutes and enjoying the world around me, I discovered a public water fountain a ways from my home with a great filtered water tap for filling up a water bottle. I know it doesn't sound like much, but when biking in August in Texas something as simple as a water fountain is a goldmine. It's funny how you can live somewhere for two years, but little things stay hidden until you take the time to see and process new information.
After the workout I had a shower and a nice lunch, which was much healthier and tastier than my normal work menu. Even eating after working out rather than after sitting at a computer for several hours changes your tastes for the better. I helped the DW do some laundry, picked up a thing or two, and finally sat down in a chair for the first time to write this post.
Notably, work has not called. They must not have noticed that I'm playing hooky today. Joyriding around the neighborhood on my bike while I should really be making a powerpoint presentation or filling out a TPS report feels pretty subversive, and surely someone will eventually notice and write me up or something. Until that happens, I think I'm just gonna lay low and enjoy life on the lam.
Re: Tyler9000's Journal
Paper Trophies
I’ve come to realize that my career has been somewhat unique relative to my peers. I earned a degree in mechanical engineering mostly because I wanted to make stuff, but rather than following the more common path of signing up with a local large engineering company and working towards a specialization, I managed to carve out a pretty good niche for myself as a creative guy who could solve any kind of problem. I like to think I’ve been apprenticing as a renaissance engineer, with the ability to design and manufacture most any non-scientific mechanical product to a successful level in functionality, usability, and aesthetics.
But being a renaissance man in a corporate world has its drawbacks. At one point I was left for the first time unemployed and shopping my wares on the open market. I approached the problem like the best designers I knew, and assembled a visual portfolio of my best work to send along with my engineering resume. I still remember the feedback from my first headhunter. “Umm… are you a designer or an engineer? I can’t tell which category you fit in by what you provided. Can you just send me your employment history in Word format?” It was then that I learned that most of the world does not think like a small, flexible consultancy with the confidence to design anything. No – you must know your role. I ignored his advice, and am the better man for it.
Today was a rainy day, so I took the opportunity to do a very therapeutic exercise that I’d recommend for any recent retiree. I updated my resume. Don’t get the wrong idea – I have no intention of sending it to anyone. It’s more a matter of reflecting on each job I’ve had to date and putting a nice decorative bow on my product design career. There’s just something very rewarding about summarizing all of my proudest work accomplishments, picking the best photos of my favorite products, and at the end of it all adding a prominent “Phase One” to the header for full effect. Honestly, I’m sorta tempted to frame it and hang it on the wall.
However, just because I’m finding closure with Phase One does not mean I’m hanging up my Renaissance Engineer mindset. To the contrary! For example, perhaps my most lasting design to date has been the personal system I designed and tweaked for years (with good advice from others like Jacob, of course) for sustainable financial independence. It’s a very systems engineering approach to a non-traditional engineering problem, and has been damn rewarding. Like ditching the single-minded headhunter years ago, breaking the engineering mold is part of who I am. I’m just taking it to the next level, and hope that the expanded sandbox outside of the traditional profit-seeking fences will present many fun and interesting new opportunities for design.
I wonder what my next resume on the wall will look like.
I’ve come to realize that my career has been somewhat unique relative to my peers. I earned a degree in mechanical engineering mostly because I wanted to make stuff, but rather than following the more common path of signing up with a local large engineering company and working towards a specialization, I managed to carve out a pretty good niche for myself as a creative guy who could solve any kind of problem. I like to think I’ve been apprenticing as a renaissance engineer, with the ability to design and manufacture most any non-scientific mechanical product to a successful level in functionality, usability, and aesthetics.
But being a renaissance man in a corporate world has its drawbacks. At one point I was left for the first time unemployed and shopping my wares on the open market. I approached the problem like the best designers I knew, and assembled a visual portfolio of my best work to send along with my engineering resume. I still remember the feedback from my first headhunter. “Umm… are you a designer or an engineer? I can’t tell which category you fit in by what you provided. Can you just send me your employment history in Word format?” It was then that I learned that most of the world does not think like a small, flexible consultancy with the confidence to design anything. No – you must know your role. I ignored his advice, and am the better man for it.
Today was a rainy day, so I took the opportunity to do a very therapeutic exercise that I’d recommend for any recent retiree. I updated my resume. Don’t get the wrong idea – I have no intention of sending it to anyone. It’s more a matter of reflecting on each job I’ve had to date and putting a nice decorative bow on my product design career. There’s just something very rewarding about summarizing all of my proudest work accomplishments, picking the best photos of my favorite products, and at the end of it all adding a prominent “Phase One” to the header for full effect. Honestly, I’m sorta tempted to frame it and hang it on the wall.
However, just because I’m finding closure with Phase One does not mean I’m hanging up my Renaissance Engineer mindset. To the contrary! For example, perhaps my most lasting design to date has been the personal system I designed and tweaked for years (with good advice from others like Jacob, of course) for sustainable financial independence. It’s a very systems engineering approach to a non-traditional engineering problem, and has been damn rewarding. Like ditching the single-minded headhunter years ago, breaking the engineering mold is part of who I am. I’m just taking it to the next level, and hope that the expanded sandbox outside of the traditional profit-seeking fences will present many fun and interesting new opportunities for design.
I wonder what my next resume on the wall will look like.
Re: Tyler9000's Journal
That reminded me of something I read a while back - about a guy who, after he retired, put something about his old job/boss on his wall (I can't remember exactly - it may have been a picture of his old boss, or an email). The story, or my interpretation of it, reflected on thoughts of:Tyler9000 wrote:Paper Trophies
There’s just something very rewarding about summarizing all of my proudest work accomplishments, picking the best photos of my favorite products, and at the end of it all adding a prominent “Phase One” to the header for full effect. Honestly, I’m sorta tempted to frame it and hang it on the wall.
.
- A reminder of the world he left behind - of how his life has changed since then
- A reference point for how much his life has changed since working for that guy
- A reminder of how much more he enjoys not having to work for someone - and to do what is needed to not have to again
- A reminder of how nice it is to not have someone else acting as your master, and to appreciate his own life every day.
Re: Tyler9000's Journal
@C40 -- I like that idea, too. I know I have photos of the inside of a Chinese conference room, the cramped seats on a plane, and me in a taxi shuttling between factories. I could make several interesting photo collections of work life. It could even be an interesting subject for a painting. Thanks for the inspiration!
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jennypenny
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Re: Tyler9000's Journal
I dunno. I think it's better to look forward, not backwards. I don't have pictures of myself with my leg bandaged up near my treadmill. I have a picture from when I finished my first race.
I guess everyone is different and responds to different motivation.
I guess everyone is different and responds to different motivation.
Re: Tyler9000's Journal
@jennypenny -- yeah, that's true. DW had the same reaction.
My painting idea is less personal than it sounds -- more like depicting some of the drudgery of office life in an artful way. Dilbert does the same thing, albeit with a funny twist. In any case, I have several other ideas ahead of it in the queue, and that one will need time to simmer to get the tone right.
I don't really have much issue looking back. I have no regrets. But I agree that embracing a negative motivation (like a bad boss hanging on the wall) probably isn't the healthiest mindset. I have lots of pictures from my work travels already on the walls -- all the beautiful and fun memories.
My painting idea is less personal than it sounds -- more like depicting some of the drudgery of office life in an artful way. Dilbert does the same thing, albeit with a funny twist. In any case, I have several other ideas ahead of it in the queue, and that one will need time to simmer to get the tone right.
I don't really have much issue looking back. I have no regrets. But I agree that embracing a negative motivation (like a bad boss hanging on the wall) probably isn't the healthiest mindset. I have lots of pictures from my work travels already on the walls -- all the beautiful and fun memories.
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jennypenny
- Posts: 6853
- Joined: Sun Jul 03, 2011 2:20 pm
Re: Tyler9000's Journal
That's cool. I didn't mean for my comment to sound so serious. I just think it's healthier to move towards something instead of away from something. I also think when people define themselves by not working as much as they previously defined themselves by working, "work" is still playing too big a role.
Sorry, pet peeve of mine. Maybe I should add it to that other thread.
Sorry, pet peeve of mine. Maybe I should add it to that other thread.
Re: Tyler9000's Journal
No worries! I know exactly where you're coming from. I have the same reaction when financial independence newbies ridicule the income obsession of others while obsessing about spending and investments themselves. Fundamentally money is still the center of their universe.
Admittedly work is still on my mind this week. But it fades a little more every day.
Admittedly work is still on my mind this week. But it fades a little more every day.
Re: Tyler9000's Journal
A Tale of Two Scales
So our bathroom scale stopped working recently, and my wife and I set out to find a replacement. This was just a few weeks ago, in the short time when I was still working but she was not.
Naturally, my first instinct was to fix it myself. After a general mechanical inspection one day after work, I figured that perhaps the battery had died. We found a replacement battery, but that was no use -- something was amiss with the electronics. An online search for the user manual yielded a series of calibration steps that I could try to fix the issue, but those didn't work either.
In the process of searching for a fix, I ran across a series of very negative product reviews online. Apparently the problem is quite common with this model. Many complained that they had to buy a new one within a year, recommended steering clear of this model, and suggested a few more expensive alternatives. The one that stopped working was admittedly pretty inexpensive, so I chalked this up as a small lesson in not doing enough research on the original purchase.
I suggested to my wife that perhaps it was time to get a new scale, and she basically said "Let me handle it". Rather than searching online or browsing a local store, however, she took a different path. She had the time, so she called the manufacturer, sat on hold, sent the appropriate documentation, and got a replacement scale absolutely free under warranty without even needing to produce a receipt.
While I would have run by the store after work one day to trade money for a convenient replacement, she traded just a little bit of time for the same end result. Our scale is now a nice reminder of the hard value of time, and now that I have an abundance of time myself I'm starting to appreciate its value even more.
As an aside, the new scale is also a nice reminder of the health value of not sitting at a desk all day surrounded by snacks. Despite remaining in a relatively leisurely decompression mode last week, I've already lost a few pounds away from the office. If I can find a sustainable exercise routine, I bet I can make real progress. It's nice to have time on my side for that as well.
So our bathroom scale stopped working recently, and my wife and I set out to find a replacement. This was just a few weeks ago, in the short time when I was still working but she was not.
Naturally, my first instinct was to fix it myself. After a general mechanical inspection one day after work, I figured that perhaps the battery had died. We found a replacement battery, but that was no use -- something was amiss with the electronics. An online search for the user manual yielded a series of calibration steps that I could try to fix the issue, but those didn't work either.
In the process of searching for a fix, I ran across a series of very negative product reviews online. Apparently the problem is quite common with this model. Many complained that they had to buy a new one within a year, recommended steering clear of this model, and suggested a few more expensive alternatives. The one that stopped working was admittedly pretty inexpensive, so I chalked this up as a small lesson in not doing enough research on the original purchase.
I suggested to my wife that perhaps it was time to get a new scale, and she basically said "Let me handle it". Rather than searching online or browsing a local store, however, she took a different path. She had the time, so she called the manufacturer, sat on hold, sent the appropriate documentation, and got a replacement scale absolutely free under warranty without even needing to produce a receipt.
While I would have run by the store after work one day to trade money for a convenient replacement, she traded just a little bit of time for the same end result. Our scale is now a nice reminder of the hard value of time, and now that I have an abundance of time myself I'm starting to appreciate its value even more.
As an aside, the new scale is also a nice reminder of the health value of not sitting at a desk all day surrounded by snacks. Despite remaining in a relatively leisurely decompression mode last week, I've already lost a few pounds away from the office. If I can find a sustainable exercise routine, I bet I can make real progress. It's nice to have time on my side for that as well.
Re: Tyler9000's Journal
That's awesome! I would have taken your route as well, the warranty is probably the last thing I would have thought about. It's nice being able to overpower an issue like this with your newfound time.
I think if you adopt simple exercise routine (along with a diet you like) you'll see results quickly. It's all about establishing new habits and cutting down on unnecessary crap.
I think if you adopt simple exercise routine (along with a diet you like) you'll see results quickly. It's all about establishing new habits and cutting down on unnecessary crap.
Re: Tyler9000's Journal
The Two Week Threshold
Friday marked two weeks since my last day at the office. Typically speaking, today (the following Monday) is the time when a long vacation ends and work starts back up again. But this time is different. No anxiety, no catching up on hundreds of emails, no fires to fight. I always found it irritating that without fail, all of my most urgent tasks that I felt the need to delegate before vacation started never got done before I returned, and somehow the world kept spinning until I was there to pick them up again. Today, that’s not the slightest concern. It’s just another sunny day.
It’s not the first time I’ve been away from work for more than two weeks – I’ve been laid off twice and quit another job cold-turkey, taking a short time to land another gig after each. However, not having a job search at the top of mind is a very different mindset. Looking back, the idea is sobering. It's amazing to think that I (and most people) haven't truly had more than two unstructured and worry-free weeks to myself in twenty years. This is a remarkable opportunity, and I feel blessed.
When I talk to DW now, she is clearly so much happier and more relaxed than she was just a few weeks ago and it shows on her face. I'm sure it does on mine as well. So far, the feeling of peace is stronger than I anticipated in my more anxious last few weeks and months before diving in, and I see no reason for that to end any time soon.
Looking forward, the future is bright. The realization that there are no more work commitments on the immediate horizon is finally starting to sink in. I had a dream last night where I longed for solving some kind of big problem, but when I stirred awake I smiled, quickly remembering I'll have plenty of chances to do interesting and challenging things because the future is wide open and I'm in the driver’s seat. I slept great and woke up rested and refreshed, and today started to think a little about a few administrative things I need to take care of this week and a few fun things I’d like to start after that.
As for the past two weeks, I think for the most part this sums it up quite nicely.
http://youtu.be/_qhuIjEUMrg
Friday marked two weeks since my last day at the office. Typically speaking, today (the following Monday) is the time when a long vacation ends and work starts back up again. But this time is different. No anxiety, no catching up on hundreds of emails, no fires to fight. I always found it irritating that without fail, all of my most urgent tasks that I felt the need to delegate before vacation started never got done before I returned, and somehow the world kept spinning until I was there to pick them up again. Today, that’s not the slightest concern. It’s just another sunny day.
It’s not the first time I’ve been away from work for more than two weeks – I’ve been laid off twice and quit another job cold-turkey, taking a short time to land another gig after each. However, not having a job search at the top of mind is a very different mindset. Looking back, the idea is sobering. It's amazing to think that I (and most people) haven't truly had more than two unstructured and worry-free weeks to myself in twenty years. This is a remarkable opportunity, and I feel blessed.
When I talk to DW now, she is clearly so much happier and more relaxed than she was just a few weeks ago and it shows on her face. I'm sure it does on mine as well. So far, the feeling of peace is stronger than I anticipated in my more anxious last few weeks and months before diving in, and I see no reason for that to end any time soon.
Looking forward, the future is bright. The realization that there are no more work commitments on the immediate horizon is finally starting to sink in. I had a dream last night where I longed for solving some kind of big problem, but when I stirred awake I smiled, quickly remembering I'll have plenty of chances to do interesting and challenging things because the future is wide open and I'm in the driver’s seat. I slept great and woke up rested and refreshed, and today started to think a little about a few administrative things I need to take care of this week and a few fun things I’d like to start after that.
As for the past two weeks, I think for the most part this sums it up quite nicely.
http://youtu.be/_qhuIjEUMrg
Re: Tyler9000's Journal
Adrenaline Fatigue
The Las Vegas strip is a vibrant, exciting place. Even for a non-gambler the shows, lights, fantastic food, attractive people, and overall 24-hour energy is difficult to describe to someone who has never experienced it. I've been there many times for the annual Consumer Electronics Show, and have been lucky enough to enjoy connections that have shown me the best the Vegas has to offer – amazing meals, extravagant parties, and private clubs filled with celebrities atop hotels overlooking the strip.
The thing about Vegas is that the excitement has an extremely short lifespan. After about three days you simply feel hung over and exhausted, and can never seem to escape the feeling that your very essence reeks of smoke. The same ding ding ding of the slot machines at the airport that were such a thrill as you stepped off the plane are now knells of mental anguish. You vow never to return, but a few months later the thought creeps in - hey, let's go to Vegas!
Some days while still employed I wondered if work was the same way. I think I was onto something. The reward of an enjoyable career is a powerful opiate, but over time it wears you down in the same way that Vegas, with all its luxuries, gradually depletes your soul. Today, more than a month after leaving my job, I’m finally starting to really appreciate how rejuvenating the silence and fresh air really is. While I was still hung up on closure in week one after leaving, now I don’t think of work at all save for the ongoing joke with the DW about setting the alarm. I may eventually want to visit my old career again, but today is not that day.
I think one career lesson to learn from Vegas is that, when the interest calls, at some point you've been there, done that. Sure, it's where a lot of the action is, and you'll hear stories of friends striking it rich or living large on the casino dime. But dammit, you know it will wear you out quickly and there are other places in the world worth exploring! I don't want to be that guy who keeps going back to be bled dry by the same place just because they call and make you feel special.
I can go any direction I want, but as fun as it was at times the one directly behind me is by far the least attractive right now. Let’s see what else is out there beyond the horizon. Whatever the future holds, I’m looking forward to new adventures and uncharted territories.
The Las Vegas strip is a vibrant, exciting place. Even for a non-gambler the shows, lights, fantastic food, attractive people, and overall 24-hour energy is difficult to describe to someone who has never experienced it. I've been there many times for the annual Consumer Electronics Show, and have been lucky enough to enjoy connections that have shown me the best the Vegas has to offer – amazing meals, extravagant parties, and private clubs filled with celebrities atop hotels overlooking the strip.
The thing about Vegas is that the excitement has an extremely short lifespan. After about three days you simply feel hung over and exhausted, and can never seem to escape the feeling that your very essence reeks of smoke. The same ding ding ding of the slot machines at the airport that were such a thrill as you stepped off the plane are now knells of mental anguish. You vow never to return, but a few months later the thought creeps in - hey, let's go to Vegas!
Some days while still employed I wondered if work was the same way. I think I was onto something. The reward of an enjoyable career is a powerful opiate, but over time it wears you down in the same way that Vegas, with all its luxuries, gradually depletes your soul. Today, more than a month after leaving my job, I’m finally starting to really appreciate how rejuvenating the silence and fresh air really is. While I was still hung up on closure in week one after leaving, now I don’t think of work at all save for the ongoing joke with the DW about setting the alarm. I may eventually want to visit my old career again, but today is not that day.
I think one career lesson to learn from Vegas is that, when the interest calls, at some point you've been there, done that. Sure, it's where a lot of the action is, and you'll hear stories of friends striking it rich or living large on the casino dime. But dammit, you know it will wear you out quickly and there are other places in the world worth exploring! I don't want to be that guy who keeps going back to be bled dry by the same place just because they call and make you feel special.
I can go any direction I want, but as fun as it was at times the one directly behind me is by far the least attractive right now. Let’s see what else is out there beyond the horizon. Whatever the future holds, I’m looking forward to new adventures and uncharted territories.
Re: Tyler9000's Journal
Healthcare
Since healthcare is a common question mark for prospective early retirees, I thought I'd give a quick update on my own ACA adventure.
Short story -- signing up on Healthcare.gov and selecting a plan was painless with no issues. The site worked well, we got a plan with the same insurance company and doctors we had previously and were happy with, and we have yet to see any need to pick up the phone. We are optimizing our investment income in 2015 to maximize subsidies, and the premium/deductibles we qualified for after submitting our info are actually even cheaper than I expected. It took a few days for our initial premium payment (via the exchange) to show up on our account at the insurance provider, but it's there now and all indications are that we're good to go.
The one trick to the initial ACA application for an early retiree is that your projected salary is nowhere near the income they have on file from your last tax return. We have 90 days to submit evidence of our projected income to keep our subsidies. Letters from our employers saying we no longer work there are simple enough, but quantifying the projected investment income takes a little planning. To make it as simple as possible, we sold just enough stock to have the right dividends + capital gains this year to match our projected income next year with no jobs -- a process that we will use every year, so this is good practice. I still have to submit the info to the exchange, but doing it this way seems a lot more straightforward than the typical guesstimates I imagine they receive for future income. I recommend that anyone looking to retire start thinking about this a year early.
Of course, there's a distinct possibility that the ACA will change significantly next year and that the subsidies may go away. The current system definitely benefits us, but we're hedged for other outcomes as well. We can afford our full premium at a 3% withdrawal rate. The subsidies are really icing on the cake, pushing our WR sub-2.5%. If the subsidies do remain on the table, I'm inclined to start thinking about a charity portfolio with the difference.
Thinking back, it's interesting to remember how big of a worry health insurance was for me pre-ERE. You always think of the horror stories, and they inevitably scare you into a sense of complacency. I'll provide an update if anything changes, but today those fears feel more like excuses. The same can be said for many fears -- how will I spend my time, what will people say, etc. When finally faced, each one was significantly more tame than I imagined. I guess one good lesson here is not to let your anxiety be your own worst enemy.
Since healthcare is a common question mark for prospective early retirees, I thought I'd give a quick update on my own ACA adventure.
Short story -- signing up on Healthcare.gov and selecting a plan was painless with no issues. The site worked well, we got a plan with the same insurance company and doctors we had previously and were happy with, and we have yet to see any need to pick up the phone. We are optimizing our investment income in 2015 to maximize subsidies, and the premium/deductibles we qualified for after submitting our info are actually even cheaper than I expected. It took a few days for our initial premium payment (via the exchange) to show up on our account at the insurance provider, but it's there now and all indications are that we're good to go.
The one trick to the initial ACA application for an early retiree is that your projected salary is nowhere near the income they have on file from your last tax return. We have 90 days to submit evidence of our projected income to keep our subsidies. Letters from our employers saying we no longer work there are simple enough, but quantifying the projected investment income takes a little planning. To make it as simple as possible, we sold just enough stock to have the right dividends + capital gains this year to match our projected income next year with no jobs -- a process that we will use every year, so this is good practice. I still have to submit the info to the exchange, but doing it this way seems a lot more straightforward than the typical guesstimates I imagine they receive for future income. I recommend that anyone looking to retire start thinking about this a year early.
Of course, there's a distinct possibility that the ACA will change significantly next year and that the subsidies may go away. The current system definitely benefits us, but we're hedged for other outcomes as well. We can afford our full premium at a 3% withdrawal rate. The subsidies are really icing on the cake, pushing our WR sub-2.5%. If the subsidies do remain on the table, I'm inclined to start thinking about a charity portfolio with the difference.
Thinking back, it's interesting to remember how big of a worry health insurance was for me pre-ERE. You always think of the horror stories, and they inevitably scare you into a sense of complacency. I'll provide an update if anything changes, but today those fears feel more like excuses. The same can be said for many fears -- how will I spend my time, what will people say, etc. When finally faced, each one was significantly more tame than I imagined. I guess one good lesson here is not to let your anxiety be your own worst enemy.
Re: Tyler9000's Journal
Thanks for sharing your experience, I've been going through something similar. My experience was less smooth than yours, but things are finally stabilized.
Are you planning on submitting brokerage statements for December as your proof of income? That's what I was thinking of doing. They don't really tell you what sort of documents they prefer. Additionally, the specific exchange that we signed up with does not recognize capital gains as income...don't ask me why.
Are you planning on submitting brokerage statements for December as your proof of income? That's what I was thinking of doing. They don't really tell you what sort of documents they prefer. Additionally, the specific exchange that we signed up with does not recognize capital gains as income...don't ask me why.
I couldn't agree more. That's the sort of thing that afflicts people with perpetual "one more year syndrome".Tyler9000 wrote:Healthcare
Thinking back, it's interesting to remember how big of a worry health insurance was for me pre-ERE. You always think of the horror stories, and they inevitably scare you into a sense of complacency. I'll provide an update if anything changes, but today those fears feel more like excuses. The same can be said for many fears -- how will I spend my time, what will people say, etc. When finally faced, each one was significantly more tame than I imagined. I guess one good lesson here is not to let your anxiety be your own worst enemy.
Re: Tyler9000's Journal
On the bright side, if capital gains don't count as income surely they won't mind if you don't pay taxes on them. I'm sure it will all wash out come tax time.
Absent specific documentation requirements, my plan right now is to submit the minimum amount of information necessary to communicate our projected income. I want to make it as simple and painless as possible for the guy reviewing the file to click "approved" and move on to the next one, and a full financial statement is probably overkill and runs the risk of causing confusion (especially with assets far above the typical subsidy applicant). I have four pages in mind:
1) A cover letter explaining the reasoning for our projected income in one paragraph (basically, neither of us are working any more and we anticipate our investment income in 2015 to be very similar to 2014).
2) A letter from my employer with my exit date
3) A letter from DW's employer with her exit date
4) A screenshot from my Fidelity account that shows our YTD dividends and capital gains (but omits account balances, specific transactions, etc). These match our projected income for next year by +/- $1k.
I'm betting they'll be satisfied that I'm able to concisely state my case based on past precedent, but if they request more specific info after reviewing the first pass, that's fine. The worst case scenario is that they arbitrarily refuse to pre-pay our subsidies and will owe us a fat rebate when we file our 2015 taxes and show our initial projections to be correct. It's not exactly an end-of-the-world situation.
I'm sure it will all wash out come tax time.Absent specific documentation requirements, my plan right now is to submit the minimum amount of information necessary to communicate our projected income. I want to make it as simple and painless as possible for the guy reviewing the file to click "approved" and move on to the next one, and a full financial statement is probably overkill and runs the risk of causing confusion (especially with assets far above the typical subsidy applicant). I have four pages in mind:
1) A cover letter explaining the reasoning for our projected income in one paragraph (basically, neither of us are working any more and we anticipate our investment income in 2015 to be very similar to 2014).
2) A letter from my employer with my exit date
3) A letter from DW's employer with her exit date
4) A screenshot from my Fidelity account that shows our YTD dividends and capital gains (but omits account balances, specific transactions, etc). These match our projected income for next year by +/- $1k.
I'm betting they'll be satisfied that I'm able to concisely state my case based on past precedent, but if they request more specific info after reviewing the first pass, that's fine. The worst case scenario is that they arbitrarily refuse to pre-pay our subsidies and will owe us a fat rebate when we file our 2015 taxes and show our initial projections to be correct. It's not exactly an end-of-the-world situation.
Re: Tyler9000's Journal
Focus Groups and Snow Angels
About a year ago, I powered through five hours of evening focus groups as part of my product design job. I sat behind a one way mirror along with about a dozen other people, watching a room full of eight random people completely dismantle millions of dollars of work.
One exec turned to me and showed me a text he just received from his wife. It was a picture of his daughter with a huge smile on her face. "It's pasta night. That's why she's so happy." I commented that it's too bad he wasn't there to enjoy it with her. He shrugged and went back to taking notes.
Later, two women from marketing spent an hour gawking at baby pictures on the laptop. A few engineers were put off by this, as it distracted from the very important task at hand of uncovering the product features most likely to maximize company revenue. They watched the users intently and cringed when the designs they had spent months on were immediately rejected because the original product requirements were shown to be grossly misguided. One stepped aside to call his wife before getting in line for the food.
The scene of people admiring real life through LCDs while evaluating their own self-worth based on passing comments of unknown people behind a pane of glass was eventually too much and I left the room. The chill outside was invigorating, and I considered for a moment what it would feel like to dive face first into the snow.
Less than a year later, I basically did just that. And jumping into life face first has been much less of a shock to the system than I predicted while dreaming of it in my own office down time.
When I told my coworkers I was leaving for an extended sabbatical, I generally deflected all of the questions about “what will you do” by simply saying that we planned to take the holidays off to relax and maybe start thinking about bigger things in the new year. Well the New Year has come, and frankly the DW and I have come to really enjoy just being “off”. No schedules, no life-changing goals, no pressure for the next-big-activity or contemplating the next big move. We’ve learned to appreciate just being present and happy in the moment. The only restlessness I feel is for the rain to pass so I can take my daily walk and enjoy the quiet outdoors. Life is good, and I can feel my former goal-oriented self finally easing up a bit.
Rather than jumping into a snow bank for the shock, I’ve found that stepping away from career has been more like making snow angels while admiring the clouds. It’s a life experience no smartphone or computer screen can truly capture ahead of time, and I’m just thankful I finally turned off the vicarious living devices, opened the door from the previous room that contained me, and walked outside.
About a year ago, I powered through five hours of evening focus groups as part of my product design job. I sat behind a one way mirror along with about a dozen other people, watching a room full of eight random people completely dismantle millions of dollars of work.
One exec turned to me and showed me a text he just received from his wife. It was a picture of his daughter with a huge smile on her face. "It's pasta night. That's why she's so happy." I commented that it's too bad he wasn't there to enjoy it with her. He shrugged and went back to taking notes.
Later, two women from marketing spent an hour gawking at baby pictures on the laptop. A few engineers were put off by this, as it distracted from the very important task at hand of uncovering the product features most likely to maximize company revenue. They watched the users intently and cringed when the designs they had spent months on were immediately rejected because the original product requirements were shown to be grossly misguided. One stepped aside to call his wife before getting in line for the food.
The scene of people admiring real life through LCDs while evaluating their own self-worth based on passing comments of unknown people behind a pane of glass was eventually too much and I left the room. The chill outside was invigorating, and I considered for a moment what it would feel like to dive face first into the snow.
Less than a year later, I basically did just that. And jumping into life face first has been much less of a shock to the system than I predicted while dreaming of it in my own office down time.
When I told my coworkers I was leaving for an extended sabbatical, I generally deflected all of the questions about “what will you do” by simply saying that we planned to take the holidays off to relax and maybe start thinking about bigger things in the new year. Well the New Year has come, and frankly the DW and I have come to really enjoy just being “off”. No schedules, no life-changing goals, no pressure for the next-big-activity or contemplating the next big move. We’ve learned to appreciate just being present and happy in the moment. The only restlessness I feel is for the rain to pass so I can take my daily walk and enjoy the quiet outdoors. Life is good, and I can feel my former goal-oriented self finally easing up a bit.
Rather than jumping into a snow bank for the shock, I’ve found that stepping away from career has been more like making snow angels while admiring the clouds. It’s a life experience no smartphone or computer screen can truly capture ahead of time, and I’m just thankful I finally turned off the vicarious living devices, opened the door from the previous room that contained me, and walked outside.
Re: Tyler9000's Journal
Your writing is a pleasure to read, it flows so well!
One of my superiors at work is a Kings fan, and after they won the Stanley cup last year they did a parade through his town. He was lamenting the fact that he was at work and couldn't attend the parade, I was like "what the hell are you doing here? screw work, just go to the parade!" But he didn't do it, even though it was a slow day.
Has the government given you any static about the documents you provided as proof of your estimated income for 2015? Did they object about reporting capital gains? I'll be doing the same thing soon, so I'm interested in hearing about how things turned out for you.
One of my superiors at work is a Kings fan, and after they won the Stanley cup last year they did a parade through his town. He was lamenting the fact that he was at work and couldn't attend the parade, I was like "what the hell are you doing here? screw work, just go to the parade!" But he didn't do it, even though it was a slow day.
Has the government given you any static about the documents you provided as proof of your estimated income for 2015? Did they object about reporting capital gains? I'll be doing the same thing soon, so I'm interested in hearing about how things turned out for you.