Taking an extended work break

[gonesail]

the strange thing about my career break was I ended up missing work and the people I worked with. and my dog who passed away. there was no going back of course .. but it turns out I did the right thing by quitting the rat race. the sad thing is we sold the boat. the good thing is we are planning on buying another one. life has many unpredictable changes but some things do remain the same.

[belizesailor]

Originally Posted by pcmm

I literally just did that. I quit my job last July to take a year off and cruise with my family. Unfortunately it didn't go well (family issues) and I had to bail out just 3 months into the year. I came back and had a new and better job within 2 months, so no loss on my part. Tech jobs are plentiful right now and pretty easy to get. I had 2 job offers at that time, and I'm middle aged now!

Change is often good. I remember sweating the decision to leave a good corporate job to start my own company with a couple of partners. I look back at it now and chuckle. I was young, single, in great financial shape, and had a very strong tech skill set, it was also during the tech boom era (before the 2001 crash). But boy did I sweat that decision. [emoji28]

My actual risk was minimal, but I didnt percieve it that way. In fact, if it didnt work out, I could have had a better gig in 24 hours.

Risk is often a matter of perception. Taking that relatively trivial risk worked out to be one of the best decisions Ive ever made and furthered me along the road to punching out early to go cruising. It also helped change my perspective on risk assesment.

[goat]

Originally Posted by cyan

If I see another one of those damn financial TV commercials that keep asking "will I have enough for retirement", then my head will explode. Apparently I should be really concerned about only $2M because $4M is a better goal.
F that.
A better goal should be to see the world using wind power when/while you can. Now I just need to take my own advice.

Good point right there. It's important to keep in mind who is giving advice and why. Banks, financial advisors, the company you work for and your government all have online retirement planners. You just punch your gross salary and your age into the boxes and boom! Your results are in; you need to keep working.

They all benefit from riding you into the ground.

I picked a date then saved as much as I could before that date.

To the op. I waited until I was 55. The last few years should be your top earning years. Start downsizing and don't buy anything that you can't fit on your boat. You'll be surprised how fast your savings will accumulate. Get a countdown app for your phone. Makes you smile every time you look at it.

Best of luck,

goat

[zboss]

Nothing wrong with taking a sabbatical but I’m betting you won’t want to go back or want to go back to your old career.

Being young and having a bunch of folks in their 70’s as friends teaches you a lot about life in a very short while. You realize “hey, I’m only 25 years behind them and they are already moving back to land after an amazing sailing life. Better get crackin’!”

We have saved a bunch for retirement and we have a lot of time to let our accounts grow. Maybe SS will not be around but it would sure help if it is. In the meantime, we know how much we need to get through between now and 63 and that gap of 12 years is what we are trying to fill financially. However, getting into a 38 foot boat while still employed and learning to do as much of our own work as possible has been amazingly effective cost reduction and saving technique.

[belizesailor]

Originally Posted by denverd0n

Funny. Similar story... When I lived in Colorado a couple of friends and I used to climb the 14-ers (mountains with a peak above 14k feet). We were in our 50s at the time. We would get to the top and sit there huffing and puffing. Invariably, a short time later, some guy who was obviously in his 70s at least would come strolling up like it was nothing, not the least bit out of breath. Always made us wonder, "MAN! Are we that out of shape, or is he in that good of shape!?!"

Yeah, I have a friend who is an Everest guide, as well as lots of other climbing venues worldwide. He is in his 60s now and in phenomenal shape. He has also gotten into cruising. Last year he ended up anchored about 1/4 of a mile from me. I was aboard another boat with friends in their 50s. He hopped in, swam over, said hello, chatted for a moment, then swam back to his boat...my friends sat there in silence for a moment and then asked "did he really just swim a 1/4 mile just to say hello?". Yep...and like your older climbers...not even breathing hard.

[dwedeking2]

Originally Posted by daletournier

"It's hard to quit a good paying job "..... To good to leave to bad to stay? or the enemy of a great life is a good life?

This. I wish my bosses would fire me as I'm too weak to leave a good paying job that I don't really care for (but is easy and if you don't care stress free).

[sailorboy1]

I wonder how many in our 50s who stopped working had a medical event to themselves or a close one to help them decide.

Even through I planned to do it at age 55, having a heart attack at 52 helped ensure I stayed on goal. Then my Mom died pretty early of cancer. Then my brother who was 6 years younger than me died of cancer. There was just the physical injuries and my knees giving out. All these definitely made me realize I was mortal and that time is not guaranteed.

[nomadRD]

I'm about to turn 44 and resign in 87 days and 45 yo husband in 164 days (Countdown app for Mac is great). We hope to be on our boat within a year. We had the same epiphany that many on this thread have also experienced. People working right up until they drop dead. You never know when your time will come. Why not do it now? We spent our prime years working, raising kids and accumulating way more crap than anyone needs and finally figured out that none of it brought happiness or freedom. We have twins that are freshmen in high school and will live aboard and homeschool for the next three years until college. I want the time to teach them a simpler way of life. My only regret is not doing it sooner as our firstborn is already out of the house.

Put it off and you may not ever get there. Yes, I am scared about the financial stuff, but we sat and planned over the past 6 months. We both felt we could pull it off and that was enough - will you ever feel financially secure enough? I'm not sure but I say it now and if money is an issue, go back to work to fill the kitty. The cost of the liveaboard life is nothing like my land life so I'd never have to go back to a 9 -5 office job. That made me grin and now I am running and not looking back!

[cyan]

Originally Posted by denverd0n

[/INDENT]I agree completely! So many people say, "What if I die before I get to 70?"

Yeah, that's something to think about. But you also have to think about, what if you don't? What if you live to be 95? Are you going to end up spending your last few years living in a cardboard box and eating dog-food because you were so worried about dying young that you never thought about the possibility that you might NOT?

And, no, before anyone says it, you absolutely do NOT have to give up having any fun, or living life well, when you are young just so that you can have a little something left when you get to be old. That notion -- which a whole lot of people seem to have -- is just amazingly stupid and short-sighted. You do NOT have to live with your nose constantly to the grind-stone in order to be able to give any consideration to the future.

My professional peers are ALL in the camp that monitors those disingenuous retirement calculators that goat described earlier in the thread.. NOBODY I work with has the imagination to THINK of punching out before that magic number/date. They all have the cardboard box fear.

This culture of work until you are 70 is what I am rejecting. I reject the embedded java script that tells me I need a certain number because that script was written by someone who benefits from me working until I get to that number.

Not every country has this work til you die culture. I believe the US (maybe Japan?) is probably the winner, no?

The cardboard box fear drives most of my peers.
I call BS.

[Whiteoil]

Some folks seem entrenched in the singular concept of their only being one option for lifestyle design. That's wordy but life doesn't need to be work until retirement age then retire. That's a government mandated archaic model. Nothing wrong with mini retirements or a 6 month cruising/ 6 month work or any other of the myriad of options. Lifestyle design is as varied and creative as one can dream, imagine, and implement.

[denverd0n]

Originally Posted by cyan

Not every country has this work til you die culture. I believe the US (maybe Japan?) is probably the winner, no?

Not sure why you quoted my post as a jumping-off point for your rant. I never said anything at all about "work til you die." All I said was that, while you are worrying about dying young, you should also keep in mind the possibility of NOT dying young.

It's really not that hard to plan for the future while you are still enjoying the present. Go ahead and go. Just don't completely ignore the possibility that you might live well into your 90s.

And, no, I'm not trying to sell you anything. Living your life based off of somebody else's formulas is pretty dumb. Write your own formula. Figure it out for yourself. Live your life and enjoy it. Yeah, I am a US citizen.

[daletournier]

Who's to say in a year's time you don't come back and find a better job with better pay? Isn't that a possibility?

[cyan]

Originally Posted by denverd0n

Not sure why you quoted my post as a jumping-off point for your rant. I never said anything at all about "work til you die." All I said was that, while you are worrying about dying young, you should also keep in mind the possibility of NOT dying young.

Hi denverd0n,
My apologies. The rant was not aimed at you. I tend to agree with your balanced view.
I was ranting about a single sentence:
"Are you going to end up spending your last few years living in a cardboard box and eating dog-food because you were so worried about dying young that you never thought about the possibility that you might NOT"

This is colorful, cautionary language that can certainly remind foolish people to think ahead. However, the same colorful language is also used to scare reasonable people into postponing adventures until it is too late. We should think about making our money last, but we should also be aware that life won't last. There are cautionary tales of both types. I don't know any dog food eaters, but I know a few of the other type...

There is currently an old man living in my kid's old bedroom. (kid already flew the nest) The old guy spent decades offering up dog food type warnings with free financial advice. He still has the recommended number of millions in his IRA. However, his health is now failing and his life-long dream of an epic sport-fishing tour of the South Pacific is dead.
My father never actually risked living in cardboard, as his family was always going to be there for him with or without money.
However, he DID risk his dream.
He lost.

[aquadreams]

Originally Posted by cyan

My father never actually risked living in cardboard, as his family was always going to be there for him with or without money.
However, he DID risk his dream.
He lost.

Hi Cyan, sorry to hear about your father.

A decision like this is very specific to each individual. I'm not saying don't quit early to go after your dreams. Just suggesting you consider longevity risk as part of your decision process.

My wife and I have different views on this. On my mother's side of the family her four uncles all lived into their late 90s. On my wife's side it's been heart attacks in the early 70s. So she'd rather see me quit sooner, while I lean to being more conservative.

Separate from how long you think you'll live is where you are in life. For anyone in their 30s or 40s I'd recommend going for it. But if you're less than 5 years from retirement I'd say stick it out. Taking a year off when you're only 5 years away will only delay actual retirement.


Cheers,
Joe

[Group9]

In the end, not many of these points really matter. The ones who were really never going to do it, can't be forced, and the ones who are going to do it, can't be stopped.