Anonymous wrote:You can afford to take time off, but you can't afford to never work again, which is a possibility you'd be setting yourself up for.

Are you looking for another job now or are you too depressed? The rational move is to look while you're employed and hope you get laid off with severance. The lack of sleep and headaches may make that impossible.

Why not see a mental health professional about depression and take FMLA for a month, get your head together and work on your resume?

I never said I was not going to work ever again. I said taking time off to take better care of myself and focus on finding another job.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is your kids' college situation? Already paid for? Can you get health insurance through your DH?

Kids college is probably enough with growth to cover in-state tuition and room and board. Yes DW has health insurance.

What does DW think about you taking time off? How secure is her job?

Given that you are a 48 yo male, you might very well not get another job. Are you in a specialized area where you could start a consulting business?

You are saying that your basic expenses would be covered by DW's income. That means the 1M in brokerage would be covering all the extras.

I wouldn't retire at 48 with 4M and young kids still at home, but there are plenty of people who would.

Seems a bit dire, don't you think?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There are lots of ways to tap 401ks and IRAs early without penalty.

In any event, $4 million in investments at 48 is fantastic. You don't need to invest anymore. At 58, you'll conservatively be able to draw over 300k a year without touching the principal. Even now, you could draw 160k a year without touching principal.

That's assuming we don't have a pull back, which will happen at some point.

You mean a down market? No, this assumes down markets. The 4% rule was derived from nearly 100 years of data, which includes lots of down markets. And I project a 7% annual return over the next decades, which is conservative and draws from nearly 100 years of data.

My estimates are conservative and account for downturns.

I understand that. But we could have a downturn soon. And that could leave OP open to greater sequence of return risks. We are staying the course right now to secure a big enough portfolio that can withstand a significant correction and still be able to pay the % we need to live a good life in retirement.

You can afford to take time off, but you can't afford to never work again, which is a possibility you'd be setting yourself up for.

Are you looking for another job now or are you too depressed? The rational move is to look while you're employed and hope you get laid off with severance. The lack of sleep and headaches may make that impossible.

Why not see a mental health professional about depression and take FMLA for a month, get your head together and work on your resume?

Anonymous wrote:

Anonymous wrote:There are lots of ways to tap 401ks and IRAs early without penalty.

In any event, $4 million in investments at 48 is fantastic. You don't need to invest anymore. At 58, you'll conservatively be able to draw over 300k a year without touching the principal. Even now, you could draw 160k a year without touching principal.

That's assuming we don't have a pull back, which will happen at some point.

You mean a down market? No, this assumes down markets. The 4% rule was derived from nearly 100 years of data, which includes lots of down markets. And I project a 7% annual return over the next decades, which is conservative and draws from nearly 100 years of data.

My estimates are conservative and account for downturns.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is your kids' college situation? Already paid for? Can you get health insurance through your DH?

Kids college is probably enough with growth to cover in-state tuition and room and board. Yes DW has health insurance.

How does DW feel about the plan? Seems a little unfair to her, no?

I have a feeling if I was a woman you would not ask that.

I am not the PP you are replying to. I am the one who did ask what your spouse thinks about this. And in previous threads when it is the DW, I always ask the same question. Money frequently is the biggest bone of contention in any marriage.

Anonymous wrote:There are lots of ways to tap 401ks and IRAs early without penalty.

In any event, $4 million in investments at 48 is fantastic. You don't need to invest anymore. At 58, you'll conservatively be able to draw over 300k a year without touching the principal. Even now, you could draw 160k a year without touching principal.

That's assuming we don't have a pull back, which will happen at some point.

Anonymous wrote:

Anonymous wrote:What is your kids' college situation? Already paid for? Can you get health insurance through your DH?

Kids college is probably enough with growth to cover in-state tuition and room and board. Yes DW has health insurance.

What does DW think about you taking time off? How secure is her job?

Given that you are a 48 yo male, you might very well not get another job. Are you in a specialized area where you could start a consulting business?

You are saying that your basic expenses would be covered by DW's income. That means the 1M in brokerage would be covering all the extras.

I wouldn't retire at 48 with 4M and young kids still at home, but there are plenty of people who would.

There are lots of ways to tap 401ks and IRAs early without penalty.

In any event, $4 million in investments at 48 is fantastic. You don't need to invest anymore. At 58, you'll conservatively be able to draw over 300k a year without touching the principal. Even now, you could draw 160k a year without touching principal.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What is your kids' college situation? Already paid for? Can you get health insurance through your DH?

Kids college is probably enough with growth to cover in-state tuition and room and board. Yes DW has health insurance.

How does DW feel about the plan? Seems a little unfair to her, no?

I have a feeling if I was a woman you would not ask that.

Anonymous wrote:

Anonymous wrote:What is your kids' college situation? Already paid for? Can you get health insurance through your DH?

Kids college is probably enough with growth to cover in-state tuition and room and board. Yes DW has health insurance.

How does DW feel about the plan? Seems a little unfair to her, no?

Anonymous wrote:What is your kids' college situation? Already paid for? Can you get health insurance through your DH?

Kids college is probably enough with growth to cover in-state tuition and room and board. Yes DW has health insurance.

What is your kids' college situation? Already paid for? Can you get health insurance through your DH?

Absolutely yes! The only concern is that after taking a break you may decide NEVER going back to corporate

I have been with my current federal contractor employer for 10 years in a VP role. The past two years have burned me out from a toxic environment and in the past year contract cuts. I feel that I spend my day fighting--fighting undermining from peers, fighting for my staff not to be the ones to be laid off this week, and fighting to get staff and resources to deliver for my clients because the company laid off too many people. All of this watching peers get suddenly laid off each month and knowing that my days could be numbered. Some days I find it hard to do anything but stare at the screen waiting for an axe to be dropped.

It is literally making me sick. I have gained 20 pounds, have headaches 3-4 days per week, cannot sleep, and have stress-induced IBS. I have been thinking that taking a break, taking better care of myself, spending time with my kids, and devoting myself to finding a more normal and stable job while they are in school would in some ways be a relief. My biggest fear is the current job market in my field. I have friends who have been laid off from the government or contractors and have been unemployed for a year. I'm not sure if that would make me more stressed than keeping going on in the current situation. At my current level it may be difficult. I have never not had a job since I was 16 years old so it is very scary.

I am 48 years old with two kids. Both spouse at I each make $225k. We could live off of one salary and maintain our lifestyle but there probably wouldn't be too much left over at the end of the month for savings beyond 401k. We have $4 million in investments, which includes $3 million in 401ks/IRAs (cannot be tapped) and $1 million in brokerage.

If I got laid off, I would get a $150k severance. That said, nothing is guaranteed. I have watched some colleagues be put on variable hourly schedules and ground down to so few hours that they quit.

Should I just get therapy and hang in there?