Could I “Retire” Today if Pushed?

I wouldn’t be swimming in Christian Louboutin and my Birkin will have to wait, but the short answer is yes.

I tend to reassess at the start of a new year anyway (who doesn’t, right?) but when I am being driven to the brink of insanity at work…this exercise becomes a wee more urgent. (Desperate?)

Instead of the purely theoretical, I will go through bills, receipts, consider ways to save even more money, have more conversations with my boyfriend about where we are and where we want to be.

Financially I am on sound footing. Both my boyfriend and I are way ahead of the game because he is only a few years from paying off his mortgage and my mortgage was burned over a decade ago.

Hello- how else could I afford such a cavalier attitude about working?

I have an inheritance coming my way and that alone will take care of all my expenses for the next 10 years. I am trying to keep it simple so I am not even factoring any money that would likely be earned on this sum through investments. The sum isn’t huge though it is significant and when you can live on less than $10 000 a year…much less actually.

And this is not just subsisting. The main differences? I would not be putting away half my paycheque towards investing and I would cut some discretionary spending… Work clothes? Who needs them? Other than those two big cash “drains” it would be business as usual.

It would even be cheaper if my boyfriend and I combined households but for the sake of argument, I will assume it is just me, I don’t sell my house, I don’t count my inheritance, do not factor in the (substantial) loans I have made to people…I will be able to cover my basic expenses by withdrawing 4% of my nest egg- the maximum recommended by most advisors.

There is a lot of security knowing I would be fine if I chose to walk away today. I have taken a sabbatical of sorts in the past, why not do the same again?

But what about my current penchant (almost a pathalogical need) to do I consider important?

That is why this is merely an option to be weighed against all other options. It is my back-pocket option- the card I play if it all goes to shit.

I have a lot of irons in the fire and many others on stand-by. More likely- the current trials at work will be that boot to the butt that I need to push forward on all these ideas.

I just let it be known that I may be of assistance with a business venture related to what I do now. I have no idea if it will fly but if it does, it could happen fast.

So, for now, I am going to continue with the current plan to soak up as much as I can about production finance, write, draw, research, set up some websites to push these ventures forward, get a few things off my back so I can throw a few other plates in the air.

2010 may not be the year I “retire” retire but it may be the year I take some chances and in doing so, “buy” back a some of my self-respect.


~ by angryegg on January 8, 2010.

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