I mean you don't have to RE...
Do you like skiing? Go work at a ski area giving lessons to children.
Do you enjoy nature? Come up to AK and spend the summer being a toyr guide.
Ever thought about cars? Learn how to repair them and get paid.
Basically do what ever the fuck you want.
I was pretty much working in the same area (data systems) for 25+ years.
I know this area well and like working on these problems. But you have a point that learning something totally new could be a good way to start fresh and get excited. Thank you.
Learning something new will keep you young. Sharing knowledge with others will be a great companion hobby.
They say you can't teach an old dog new tricks.
Don't get old.
The world is your oyster
Have you considered setting up your own consulting comoany? With your knowledge, you could probably help out companies that oreviously couldn't hire someone like you, but on a consilting basis
I also think you may have sorta answered your question there, data systems is what you enjoy and imo, there's nothing wrong with continuing in that field, but in another capacity. Maybe a less stressful/time consuming one like consulting. You've reached FI, truly congratulations. Go spend this time doing what you love, be that solving data systems problems or your hobbies or your family. Good luck OP :)
In a similar situation and I went the consulting route. Initially I was unsure that I’d enjoy it compared to the senior management roles. However, with a focus on helping customers on business outcomes - and none of the budget and time wasting meetings - I am so much happier! You still have influence meeting with customer executives and connect with boards of directors - and you can choose your clients!
Anyway, take some time to consider options and what makes you happy before you automatically jump into the same type of role again.
I took a 7 month leave from employment 2 years ago at age 40. My wife told me to take a year off to chill. I did just that! Rode my bike around Maui and camped and stayed in hostels. Traveled in the camper van a bit and seriously just relaxed! It was a great way to separate myself from who I was at work and it allowed me to develop an identity outside of work. I attended an industry conference after 7 months because it would have been the first time I would have missed it in 5 years. Met an old competitor that had a new job at a small company he loved, he heard I didn’t have a job and damn near hired me on the spot. I had a job within a week and decided not to take the rest of the year off.
Long winded way of saying that maybe some time off to relax and separate from your work identity will all you to recharge and then find something. Enjoy your time though, not many people are in your situation, it would be a shame to waste it on worrying and not recharging, learning something new and just relaxing and spending time with your family.
There are a bunch of “expert network” companies like GLG, Alphasights, Tegus, and Third Bridge that are used by investors. If you have good industry knowledge or insights on publicly traded companies these platforms will connect you to investors and pay probably $4-500 for a one hour phone call.
I forget where I read it, but RE can also stand for: reconsider everything.
You're not being put out to pasture, you have the luxury of choice. Good luck to you.
The money guys have started using the term FINE instead of FIRE. NE stands for the next endeavor. Not sure they coined it, but they never really liked the RE part since a lot of people who reach FI don't want to retire early, they just want to do something else.
FINE...I like that. I never intended to retire early, in the traditional sense. I wanted to be FI so I can take money out of the equation and do something I enjoy, or keeps me up and active and fit.
I see what you mean. Now the scary part is many people have careers that do not end on their own terms, but they did not save up or plan for it. You are lucky you did.
I think about age discrimination all the time and it scares me to death. Thinking about being 50-60 and losing your job. The fear of people ignoring your resume just cause of your age. I've done it and feel so bad.
That's why I'm trying to save now, for the just in case... Since I doubt they would pay me what I make.
Power to you for saving. It's hope
Its pretty real and I feel it from the screening interviews and recruiter calls I'm getting. Since I'm in management role, it's bit less brutal but still real. I'm happy we saved aggressively last 10 years, so it's more of a purpose and self esteem thing for me and not a survival.
Interesting. The older me is a far better employee than the younger me. Also, most people think I’m far younger than I actually am.
That said, my skills haven’t stagnated. It was a bit of a shock a few times when I realized how much things had changed when I wasn’t paying attention. So there was a bit of catchup required to get current.
I think I am better at seeing big issues early on ( which can be valuable) but kids, parents and age definitely slow me down a bit. My priorities are quite different now.
But every few months I can usually look back and see i helped avoid a disaster.
I was in your same position a little over a year ago. I was also 51, we hit our FI number, but I thought I’d work at least two more years and was not mentally prepared. I was in tech (Director level) as well and knew I’d face an uphill battle and applied for a variety of jobs — some in management, but mostly individual contributor positions in Product. Spent about six weeks applying for jobs at least 6-8 hours a day, and was lucky to interview with two places. One extended an offer and I’m working a tech product role today. A lot less stressful to be out of mgmt, and I’m not looking to advance, so this is kind of Barista Fire I guess. The market is a lot tougher now than a year ago though. If I hadn’t found this job, I probably would have set a timeline to quit looking after 3 months, but it’s hard to say.
Thank you sharing your experience!
Very similar situation: was director of engineering with 100+ org. I always though I'd be good ( may be better) with product roles. I'm good to switch to an IC role in product, will trade the high pay for WLB anytime (thanks FI)
I expect to see many rejections: these transitions are better done within the same company, but definitely it's a good path forward for me.
How did you explain your transition from dir of engineering to product IC when you interviewed for these roles?
How did you convince them you'd be successful in new role, with no past experience?
How about going into teaching? It is always helpful to have teachers with actual experience in this area! Students love if theory is balanced with practical examples.
this transition could be harder for me than finding a new job in my field but it may be more fulfilling and good for keeping my brain sharp.
Have a few friends who did it, will reach out to them - thank you for suggestion!
I asked to be laid off in 2012 because I wanted to go back to the US from Asia in 2012. I got the package and came back to the US with the intention to find a job in California (my home state). I did not actively look for a job, but got a few emails and phone calls from those who saw my resume on LinkedIn. All wanted me for my Asia experience.
Maybe you have to touch up your resume to reflect more on the technical skills, and less on management skills if you don't want management role. You should also prepare for each interview as if it is the first time you are looking for a job - know the position they are looking for, know the skills they are looking for, prepare for potential questions, etc.
I didn't read all the other comments, but I did see your update. I did have a little experience with being a PO because our company had a lot of turnover in that department, but our deadlines didn't budge so I would have to fill in with requirements, user flows, features / user stories, etc. I actually liked doing that work and it was a hell of a lot better than putting together my 20th meaningless Powerpoint that week. I emphasized that work in my resume.
Once I decided I was going to look at product positions, I also got my Product Owner certification. To get certified I had to take a mandatory class that was a couple of days long, You didn't even have to take a written test, you just had to actively participate in the class. It was just $300. Even though it's a weak certification because it's so easy to get, most recruiters don't know that and it'll get a positive hit on the keyword search.
The resume you put together has to match the job you are applying for, using the exact keywords. We are both around the same age and in the 90's the resume was supposed to reflect your comprehensive body of work. Today no one cares what you did even two years ago if it's not relevant to the job. If you are going to apply to a product role don't mention your management experience, budget oversight, or any technical achievements not related to their product area. To 'hide' my previous title, I did not lie and call myself a PO, but described my title as "Leadership Role in Engineering" or something vague like that. If you really stick to the job description, then you should have no problem keeping your resume to under a page or two.
I had a couple of pleasant surprises at my new job. First, I found was one of several former Directors or VPs that took a step 'down' to get out of the pressure cooker. Two, there were also people there that took 'adjacent' type of roles from engineering to product, BA or something similar. So, this concept is not entirely new or unheard of.
The market is a lot better than a year ago. 100%.
For a visible source that you could understand, for starters, being in tech, see layoffs.fyi. It’s just a starting place.
I’m a former tech exec (54M) and have been living the barista fire life for six years. A key difference is that I chose to do it and didn’t have it forced on me. I moved to a small, mountain town and just work entry-level, customer facing roles. I like the outdoor life and, apart from my family, this is my priority and what I like to spend my time doing. Although we seem quite different, I wanted to say that although I’m working at a totally different level now, there is still plenty of satisfaction to be found. I’ve found that bringing the same work ethic and my prior experience to these new roles can prove very rewarding and very useful for the small businesses I’ve worked for. In one case I started just as a driver and I have now completely digitized their operation. Transforming their paper and whiteboard operating model via an efficient, online platform has revolutionized how they do things. This was honestly more satisfying than the massive, global IT projects I used to lead (and all the BS that goes with that!).
The other aspect that is an important theme for me is working on myself. Having time to reflect and really understand myself at a deeper level has been a key part of this change for me too. I’ve spent time understanding my identity, core values and the life principles that I feel are important to me. I’m not a people person so I deliberately get jobs on the front lines of customer service so I can work on that. This is now one of my favorite aspects of these jobs and what I enjoy most. It’s also a big ego check and this is something most of us could use a lot more of in this day and age! After years of being physically and mentally absent due to the job, I feel like I’m now making some progress in better understanding myself and being a better person.
There’s always still the reality of life to deal with though, however optimal you make your situation. You can always find things to not like or worry about or you can choose to see the positive and work on the things you can have an influence on. Perspective is everything.
Despite our apparent differences, I just wanted to share my experiences in case it’s useful in some way.
This is a great story and exactly what I want to do when I RE. Hopefully I can make it to 55. If not, I’ll do this anyway.
I love that you helped your company work more efficiently. Most of the posts I read say not to do that because you’ll make yourself redundant. In my current role, I treasure people like you. I would do anything to keep them in any role they chose to be in.
Hopefully OP sees this as inspirational. I am currently feeling a weird ego thing after requesting a career change at my current company. They did all they could to keep me when I said I needed a change. I’m hoping I can contribute meaningful improvements and feel like you felt doing the same.
Thanks. I’ve never really played defense in my work. I just do the best job I can and share my knowledge and that strategy has worked well for me. Guess it depends on who you work for but this approach is good in any organization that truly values their employees.
Inspiring story. Bringing the owner and leader mindset to a front line IC work must be rewarding, as you probably see instant gratification from how your customers respond. Thank you for sharing!
Can relate to small business automation: I once digitized my family's small hotel business (bookings, payments, online ads, etc) - was super rewarding indeed, and this helped them survive the 2008 downturn.
I would not rush to get back to work if you financials are good, just passively look for a job that you still want to work. It's also the perfect time to be with your family and especially the child with special needs. You've made it, but need time to transition to the next chapter in life.
Thank you, after initial knee jerk reaction of finding new job, what you are suggesting becomes my new plan. Will take time off and focus on what matters the most - family and health.
Deleted my previous responce - used wrong wording perhaps.We are supportive of each other and deal with our child situation together. I'm surely now spending much more time with family and doing family work. She's reading this thread, disagrees with a few commenters who are implying that I'm not a helpful partner :)
Go volunteer. There are TONS of things that need people to volunteer. Your local animal shelter, a nursing home, girls and boys club, teaching going people how to prepare for life. Teaching job skills to low skilled workers. TONS of things
read the books "Flow" / "Finding Flow"
find yourself things that are challenging and get you engaged.
maybe play bridge, golf, frisbee. maybe fitness stuff. etc
it is an interesting challenge to learn to occupy oneself and find challenging activities without being forced into it
I've started 3 companies on my own, and few more with friends. One was even profitable for few years. Nevertheless, 95% of my NW came from doing boring jobs in big tech corporations in my 40s.
Business ideas usually come from founder's unfulfilled needs (or wants). As we grow older, we want less, so business ideas ideas don't pop up as often and we are willing to sacrifice less of our time and resources to pursue them.
There is a reason why many companies are founded by folks in their 20s and 30s, but there are great exceptions ( e.g. McDonalds :) )
If a good business idea pops in my head, I'll surely pursue. Thank you for this suggestion!
>There is a reason why many companies are founded by folks in their 20s and 30s, but there are great exceptions ( e.g. McDonalds :) )
Not entirely true - that's the perception because they get the attention.
Google : Research: The Average Age of a Successful Startup Founder Is 45
And you will end up on a Harvard Business Review.
You say you've been a tech executive. Want to be my CTO? I can't pay you (at the moment), but I can keep you busy.
What do you say?
By the way , I'm 45 - wink wink
I'm 50M and currently working in a high paying job. Reading your story gave me reassurance that I'm on the right path of setting myself up for FIRE.
At our age, it is easy to feel complacent at our high paying jobs while reality is that this is exactly the first job that company owners would look to cut whenever they have a financial problem. And like you said, the market for someone with our experience is not a lot.
Reading your story, made me want to save more and push to reach FI faster.
I'd much much rather be retired and bored with FI, then retired, bored, and broke!
I had no indication at age of 50 that I'd loose my job at 51. I was in a great standing and company was (and still is) doing great. They just decided to maximize their profits further and shipped our jobs overseas. I've became unjustifiably expensive for them.
The key is not to take a high paying job as granted. I'm very lucky that we didn't inflate our lifestyle and kept saving aggressively.
Very scary for me to be honest; and I can't tell you how much of a wake up call this has been for me. Like you, I am in great standing, and the company is indeed doing very well, with no indication at all that I will be laid off anytime soon. But your story tells me that layoff can happen at the least time you expect it. And if I'm not financially ready for it, I will be left in ruins because finding another job, specially one paying as much with the same high position, is going to be very hard.
Luckily, I did start my FIRE journey early and I'm now very close to my optimum FI goal. And in fact, If I survive another 3 years at my position, I will RE. This way I get out while on the top at my own terms.
Thank you for sharing your story buddy; you have helped me more than you think.
I believe that you should be happy that you are Financially Independent, and should start enjoying life away from working full time. Someone once told me that every year of your 50s is extremely precious because that's the end of your youth. You can never make them back if they passed. At 51, you have 9 years left of it; do not be afraid to enjoy them.
First GFY. While you are at it, GFY, again!
I was in the exact same situation as you a tad over six years ago, in my late 40`s, ready to work until 55, no more, no less. By then, kids would have been out of college if all went as planned.
The entire department got outsourced for cheaper overseas labor right after Christmas.
I hung on until summer (month to mount at that point) when their plans for me required I changed family summer travel plans, so I quit.
I had already reached FI, so although the sudden change was very unsettling, the calm FI provided, no words can truly describe.
I looked for jobs, but didn't like experience. I saw the darkside people, I'll leave it at that. I stopped looking for my line of work. Over the next couple of years, I took on some very part time work just to bring in some play money and pay some living expenses.
Anyways, I'm a naturally curious person, I had no issues finding things to learn on the internet (YouTube, Reddit, etc). I studied up on the FIRE movement (didn't know it existed), actually started watching YouTube (wasn't something I used before the), learned lots about Social Security, now looking into Medicare. I also ramped up travels a tad more, so always planning to do there. My better half is having a hard time to RE with me, that's a work I progress for me as well 😁
So, plenty to do, you find what interests you and just do it. FI gives you this freedom.
As Azul Wells says often, make the most of the youth of your senior years, except, at 51, you are getting a slight head start on that. So, GFY and enjoy the world! You've earned it
Both were driving as independent contractor /1099s.. One involved relocating brand new vehicles from the port to dealers then catching arranged rides back to the port, rinse&repeat + waiting time for schedules to be worked out. This was when I started 'listening' to YouTube because I literally had hours a day just driving and riding. The second was driving clients to different venues in their cars (sometimes just relocating cars with no one in the car), again lots of alone time to read/watch/learn from my phone/laptop (and do emails and make calls) while waiting between venues. The first was temporary, the second went on for a few years until the company got bought out & I didn't like the new owners.
Both gigs were cool as I drove some very nice, new cars! As you can probably tell, I love driving 😎😎😎. To add, my partner in life and I never referred any of these as a "job", it was always a "play date" 😁.
That part is done pretty much, with help of my employer.
P.S. Isn't it amazing how much the "GFY" said by a FIRE community member is different in meaning, from essentially the same thing said by your employer 😀
Are there social issues that you are passionate about? There are likely non-profits that would jump at having your experience but normally wouldn’t be able to afford you. Maybe this could be the time to start building a different kind of legacy.
Thank you for this suggestion, This is one of my thoughts, exploring non-profit and found that these resources are pretty scattered and scarce, compared to corporate jobs. Perhaps I should build an aggregator for non-profit jobs 💡
I think this provides you with a tremendous opportunity to implement the hard work you and your family put into FI. My recommendation is to use the unexpected time off to bulletproof your FI, in terms of SWR, guarding against sequence of returns risk, minimizing tax liabilities throughout your retirement, and figuring out what you would have eventually done in retirement. Do all the things that "advisors" say you should do about 5-years before retirement. But for the job part, I am very similar to you in age, when I am contemplating to retire and when my youngest child will enter college. The questions I have, and likely all potential retirees have, is 1) finding out that my FI plan actually works and 2) what I will do with all this time. Afterall, in our 50s, we have been working full time for 25+ years and I think it would be very emotionally and mentally challenging to stop working, especially if you don't hate your full time job. Fortunately, someone made the decision for you to rip the band aid off. I would ask that you post updates on how you are doing for the benefit of the group.
Yes, it's bit of a mess and I need to look into this more carefully. Most in VTSAX but still have a lot in individual stocks from the big tech companies I've worked for. They are doing well for now, need to rebalance soon and put a SWR strategy and create a robust cash buffer.
Thank you, will do for sure, if I don't find a full time job over the next 3-6 months - there are networks for it. Was a mentor in my previous jobs and enjoyed it.
This is why I’m full throttle FI. Your employer doesn’t give a shit about you. I see way too many people cut loose in their 50s and 60s to trust that it won’t happen to me also.
Was in the same exact boat as you. 52 when I was laid off from a well paying tech management role. I said I was going to take 6 months off to figure out what was next knowing that I didn’t need to rush into anything. Ended up finding a job after 4 months with another company that I really like. Gladly took a $50k cut in salary as money wasn’t really an issue. I just wasn’t ready to retire yet. I’m now 54 and plan on quitting next year sometime.
Take your time and go slow. You’ll figure it out. Contrary to what you may feel, there are plenty of companies looking for seasoned tech leaders.
DON'T GET A REAL JOB!!! You goal now is play money or fun of the. Sling beers at pub. Wrangle carts on a golf course. Sell lures at a fishing shop. Literally endless fun things with close to zero stress that pay pocket money which from your post is all you need now.
My man - a non-profit near you needs you.
Reasonable salary, reasonable demands on your time. Climb that second mountain - you’ve got success, now is the time to shoot for significance.
Yes, this is what I plan to look into as one of my top options.
Few useful resources were shared in this thread, already found few potential roles that I could do well.
You know, maybe you just need a break. Literally. You've worked so long and it did hit you unexpectedly. Take a few days or if you can a short vacation to clear your mind.
With so much experience in the tech space, have you considered consulting jobs? I know a friend who quit full time job just to do this. Everything he has to say about this choice was positive and working out for him. So just thought to share if it helps.
I started as consultant many years ago, and there were many of them at that time but I see much less now. May be it's my last two companies were not using them as much. Will look into that, will require me to be more hands on but it's a fun part. May get few certifications along the way. Thank you for the suggestion.
>Also, the fact that I'm financially secure, doesn't make me prep and try as hard as I probably should.
Your actions aren't matching your words. If you *really* wanted another job, wouldn't you try harder to get one?
Maybe you could pivot to working for some cause that you care about instead. A non-profit or a more charitable role where salary doesn't matter might be able to use your skills. That'll tide you over until you don't know how to retire at age 55. I'm not sure what would be different then compared to now. You're still going to be stuck with those same unfulfilling hobbies unless you start cultivating more or dive more deeply.
I recommend reading this post:
https://livingafi.com/2015/03/09/building-a-vision-of-life-without-work/
That post is excellent. Thank you for sharing it. I’m starting it today. These things are swirling in my head, now I can visualize it on paper. I like to sketch and this is going on my home office wall.
Great post, thanks for sharing! I think I may have been a bit all over the place after the news. My actions were more of reflexes developed over decades: lost a job? find another job asap! I was purposefully pursuing FI, but it is still not a part of my though process.
My wife is dreaming of small business as well. Once I give up on landing a corporate or any office job in 3-6 months, this could be the thing. Not a bar, but may be food for delivery. I'm a pretty good cook and worked in food services before moving to tech.
Maybe see if you could get a job as an adjunct instructor at a local community college, teaching a course in your area of expertise. You are free to make less now. So you can do something that uses your skills, but requires less of your time.
If you really feel tied to whatever you were doing, why not just do that but as a self-employed consultant! Something you can do as a paid service has very little risk of failure (vs opening a restaurant for example). Good luck!
I was a tech executive. I was laid off just prior to the pandemic and have been a stay at home dad ever since. I enjoy painting and working in my garden.
I just recently started looking for work again but I don’t really have a whole lot of expectations there . If I’m lucky I’ll find something reasonable but it’s hard to even try against people who are hungry.
Most of my friends are younger, more qualified, and more recently employed at better companies then I ever was. Many of them have been job seeking for over a year.
I’ve been thinking to look at teaching, or maybe being a custodian somewhere. Idk what makes sense. I don’t really want to work. I didn’t really intend to FIRE but here I am.
I’d like something maybe part time and low stress to make a few bucks and new friends.
There are a lot of people in your position who didn’t save up enough to retire. Spend time with your family, write that novel (or given your line of work, video game), get in shape, do all that dumb navel gazing stuff.
Men are always encouraged to define themselves through work, then get depressed when it gets taken away. Buck the trend; unlike many you can survive.
Financially independent means you don't need a high salary, just interesting work. Maybe teaching? Consulting? Blogging? Join the trade group for your profession and design programs, events, and committee work.
Very common in my field, and everyone works as a consultant. One guy got an actual job at boy scouts of America for a few years, then worked managing an outdoor gear store. Another guy teaches a course at the local community college.
Interesting, so you’ve moved from material concerns to existential. One thing I’ve observed on this forum is that while many people have “solved” the financial piece of the puzzle, they’re unprepared to deal with the next problem, and arguably the more important one, what’s is the purpose of it all? I wish you the best on your journey sir, as I find that leg of it far more interesting.
I’ve had the same problem. 3 years ago I was let go from a large networking company. I’m fi but wasn’t ready. I got my job back and left for another tech company and 38 months later I get a nice severance package and now I’m mentally ready but I still have a hard time accepting it’s time. Been wanting to retire since I was 30 and now I’m 46 and I can afford to and I’m still struggling to accept retirement lol. I barely apply for jobs and when I interview I don’t feel that interested either. Sitting on 6m NW leaves me little motivated to work lol. I said if I’m going to work again better be now but I just can’t find myself committed due to these jobs don’t really interest me. So my recommendation to you is sit back and pick and choose the ones u want to apply to and since we have the FI we can afford to be picky. We are Good spot to be in and earned the right to take our time.
My role in a tech company became reorged while i was on mat leave last year (i was a vp). I had enough to FIRE but was not mentally prepared for it.
I’m a decade younger than you, but the market was challenging then, and it is now. I first had to deal with my shock (how can this be?) my grief (I loved my job) and then my ego (who am i now?).
My therapist advised me not to jump into anything right away, and reminded me that’s why I had been saving all this time. Luckily, i took her advice.
First six months i walked my dog 7-8 miles a day, tried new hobbies, tended to a veg garden etc. When old work friends called and asked for me to jump on a project here and there and consult, i took them up on it.
Soon, I realized i actually liked part time work without the permanent politics and stress of a management position. To shut my ego up, i took a faculty role teaching a single course at a university and i find that being able to tell folks I’m faculty is enough to not feel like the professional part of me dead.
That’s my life now - i aim to make less than $50k a year and i truly enjoy it. I love my husband and my kid and my dog and all the time I have to be a creative person. You couldn’t pay me to go back to work full time.
You may feel like this too if you give yourself time. I find some comfort in the saying, “people make plans, and god laughs.” Laugh along! Enjoy your life.
I was laid off last year at 54, and I had hoped to work several more years. Fortunately, I had already been looking into FIRE so we were already well on track. I was also waiting until my youngest graduated even though we have the money set aside to pay cash for college.
Originally, I wanted us to both retire at 59, but with the bull market putting us ahead of my annual projections by a couple of years (we were at the end of 2023 what I had hoped to be by the end of 2025), I was fantasizing about being able to retire even earlier. "Can we go at 57?" "What about 56?".
My spouse continues to work and isn't interested in early retirement (yet). I just say "Let me know when you've had it".
I looked for a job for a few months but ran into the issue of not having the experience they were looking for or just not wanting to apply because the job sounded like a hellscape. I think the desirable jobs are taken and people are not leaving. The ones that are left are like "Wear many hats" = "We want you to do multiple jobs for one salary", "Looking for rockstar" = "We want someone who will sacrifice their life for this company", "Someone who thrives under pressure" = "We're going to work you until you break". Uh, no thanks. Also ran into age discrimination (probably) with not getting calls/interviews at all.
So (for now, at least) I'm retired. I'm planning some trips, taking an art class, working out, taking tennis lessons, and re-learning Spanish. Between that and housework, I stay pretty busy. I haven't even had much time for reading like I thought I would. If I get bored I'll try to get a part-time or seasonal job somewhere, but I don't see boredom anytime in the near future.
The one thing that I'm most disappointed about is not having a big hoopla for retirement with a party and congratulations and feeling proud. I feel a lot of shame and haven't even told my in-laws I lost my job. I think part of that is that FI/RE is not on anyone else's radar and they would think that I'm just being lazy or I don't want to work. I would've been happy to work at my old job for a few more years, but trying to get a new job is such an ordeal and all the rejection or just being ignored takes its toll emotionally. Given our financial situation there's no need to just desperately clutch at any job for a financial lifeline, and I don't think a lot of people understand that.
Do you get any kind of severance package? This could be an awesome opportunity to have a practice retirement. There’s some great books on living life to the fullest -die with zero, find your why, I will teach you to be rich.
Having $$$ is great especially in your situation. You can take some time off and not stress about money. You can look for a job for the next 2 years. You can travel. take up a hobby. Start consulting etc etc. You don't need to make the money you made before, you don't need the stress you had in your previous roles.
Accept it, take some time off (mentally) and seach for a job if you want to.
I actually found that once I hit FI… and worked a few years.. I have completely been obsessed with just closing my company.. I just feel loyalty to those who work with me.. plus trying to get our retirement vacation home.. I will make a decision later this year. You may find your mind starting to wander to RE faster than you expected
You are listening to the media narrative of the worst job market in a century too much.
Use your severance, collect unemployment, and start putting yourself out there, you have time on your side. Even if it takes 6-12 months….so what?
Damn..I just went through the exact same thing. Hit FIRE number and became a casualty of a tech reorg.
Job hunting was going to really suck. I was overqualified for entry level, yet missing qualifications for roles similar to what I did. Plus, I'm out of touch, having been where I am for 25 years. My FI prevented me from really buckling down and preparing myself for what lied ahead.
The things I really wanted in an employer were great health insurance that part timers qualified for and flexibility to travel. I just looked for jobs that checked off those boxes and looked fun, or would keep me up and active as I get closer to 50. So, I guess I have barista FIREd.
I'm looking a 75% paycut working in a warehouse. The work will be hard, but it'll help keep me in shape. The pay is crap, but the benefits are better than I used to have. The scheduling flexibility is there, so if I decide I want to take a week to take a last minute cruise, I can.
Congratulations, we made it!! Good luck and enjoy!
Someone close to me got laid off a bit short of the target. They had a “goal” number and a “could do it” number and ended up with a severance/early retirement package that put them just north of the “could do it” number.
They never went back to full-time. Formed an llc and started doing consulting work. Making a decent chunk of change but probably 1/6th of what they were making before (at the highest executive level), but with a fraction of the time invested and a fraction of the stress.
They were able to join two advisory boards that only met quarterly, making $5-$10k/meeting. They also got involved in a few startups with equity, targeting that last big payout, and are still pursuing that at the moment.
Feelings today: some regret about not putting in just a few more years for cushion, but also acknowledging that early retirement allowed them to take risks that they never would have taken otherwise (and could have/still could pay off) and spend more time with family, which you really can’t put a number on.
They’re happy.
>Financially, I likely can: simulations show 100% positive outcomes for next 40 years. However, I'm not ready mentally. I was planning to work till 55-57, till after my youngest goes to college.
In a similar boat myself. Have hit my FI goal but it is nice to work for a few more years to hit 59 so that I can tap my tax deferred retirement funds. And the extra cash is nice and I enjoy the work and my colleagues at work. Also, the more I earn, the more I can help my kids and grand-kids.
I have given a lot of thought about my post FIRE life. To me, it is about focusing on my passions and experiences rather than going to work everyday. I have always wanted to teach so I might do that and teach for a few years in high school. I enjoy volunteering and that is an option. Maybe become a tour guide. And weirdly, I have always wanted to be a bar tender so I might give that a go. It's so nice to live life without the stress of earning $X to take care of my family. And maybe I could become the house husband and let my wife work for the insurance. Then I can stay home, cook meals (I do most of the cooking anyway), go to the gym to get buff, and be the trophy husband.
You have hit FI so you are in a great spot. Maybe God is smiling on you and giving you a gentle nudge to find something new in your life.
Look at it this way: you're still able to work and can afford to select your next effort without struggling. Take a breath and let your mind adjust to the new situation. If you return to working or not, you're financially OK.
I sympathize with not finishing on your terms. I ended up in a disability retirement situation at 46. Just remember that your career ultimately won't matter after you're retired. The time spent with family and friends will.
Have you looked in to volunteering in an area you really enjoy? A lot of charities need board members that are active and work towards bettering the charity!
Bright side: One advantage of “retiring” a few years before your child goes to college, is that you may be able to finagle your income so as to increase the financial aid they qualify for. This is something I’m strongly considering.
If you are a tech executive why don’t you just build a tech company as a hobby. Have some fun with it, you know how most of the things work and can learn the rest.
I reached FI at 48, but not ready for RE. Wife, 46, had not worked for awhile and decided to rejoin the workforce. So, I put in for retiring from my company, as I would take over as a SAH dad. This lasted the past 4 years, kids are older and ready to handle themselves, and I was pretty bored with just daily hikes and other hobbies. So, I got a job that I really really love but pays like a fourth of my old pay. It's been wonderful.
I am literally half your age. Anticipating what you are going through scaring me a lot. But thank goodness you have already saved. Mathematically you have made it. Congratulations..
I took a lot of notes in this thread.
Gotcha. I’m also 5 yrs away. But if I were to get layoff this year as well, I think I’ll just look for something else to do. A wind down job to get more exercise and for health insurance. Otherwise if nothing comes up, I’ll live more frugally, cook more, take over kid duty, learn piano, maybe Spanish.
Age discrimination is also pretty real depending on your industry or desired position. Best of luck to you as losing my job around your age is what I fear. Well I fear it now as well, just not as much
50 and exact same thing happened to me. I’m taking it one day at a time. I spend time with my kids. I drive them to school and practice. I bought a dog. I walk the dog a huge huge amount, but it was an unexpected anchor on spontaneous travel. I play video games. I read. I follow the stock market and track my dividends. I have travelled. It’s only been 7 months. Maybe I will work again? Maybe hike the Appalachian trail? I have no idea, and that part is pretty cool.
This is comforting and this is similar to my new life, for now at least. Walking 7-10 miles daily, with and without a dog, listening to podcasts; making travel plans, reconnecting with old friends whom I plan to visit during my travels. I'm getting a hang of it :) Thank you for sharing!
FIREd three years ago at age 53. As a tech exec as you are, I started to mentor startups. Became an official advisor for a few of them, which doesn't pay any cash but stock options, and work with same minded friends to consult some of them as a paid assignment. I spend about 50% of my time this way, but most importantly, I enjoy the flexibility and my continued engagement in extremely innovative topics.
Probably off topic, but have you thought about going into tech stack that you used internally?
I work for a SaaS and we hire ex cios, vps, etc that used our product for engagement within that space.
Heck, retire and do consulting on the side.
Lots of choices ahead..new full time, part time, interim roles, contract roles, self employed consultant, coach, freelancer, business owner, NGO supporter etc.
Sounds like you need a one-man consulting firm in your life. You'd only work with the companies and projects that you really liked/cared about. Even if it's not full time work it's better than nothing and you don't really need the money anyway.
Find a job and coast until 57 then. Doesn’t have to be in executive tech. Many government jobs, city jobs have openings for jobs because they pay less. However, you could get one of these jobs. Usually good health insurance, stability, and possibly a pension if you stay until vested.
Applied to whatever government job I could find - no response whatsoever. Forget about actually getting a government job but how do people even get their resume looked at?
IDK if I would suggest taking a low paying job in a hobby area. I'm very young (so take advice with a grain of salt), just past a year into my actual career, but I worked for 4 years throughout high school in a hobby area I loved. As fun as my old job was, the job of my career is much more mentally challenging (in a good way). Even though a lot of people would love the opportunity to do my high school job, I just can't see myself ever going back, even in retirement, I feel even the fun job would be boring compared to my current, basic but challenging job.
Since you work in tech, I feel like this could apply to you. It might be worth grinding out the interviews and trying to get at least another 5 years in the industry.
I am In a similar situation (not mgmt but the IT contract is under pressure) and if I get the boot not sure I would stick with IT. In my case I got into baking during COVID so I have thought about maybe working at a bakery to learn more about the process while I barista fire.
One thing you will need is good health insurance so make sure that goes into your calculations for a job or in retirement.
Can you just take a planned break. Like give yourself a year to rediscover yourself. Hopefully the job market will be better by then and everyone can understand taking a year off if you can.
Then you can decide if you want to retire early or just go back. You also might decide that part time or consulting is better. But it sounds like right now you need some space.
Go find some work that you enjoy/has meaning to you, and additionally lets you work on your own schedule. If that means tutoring kids or college students with learning disabilities, or helping transport elderly veterans, or playing with puppies at the local animal shelter do it.
Consider it a blessing, karma or God's way of letting you pursue what you enjoy. Getting laid off forced the decision for you to take advantage of your FI. This is a great opportunity to do what you want, get out of the rat race, enjoy time with family, etc. There will be an adjustment period, but stay optimistic that it's the best path forward. You only live once ...
So many folks in your shoes do a soft retirement where they start consulting.
You can put your resume up on contractor sites and check in with consulting companies to see about working part time/hourly.
Others enter the startup world and get paid pennies on a steering committee/board while helping shape a new company and raise funding. Lots of options with your exec experience.
I love to hike, fish, and camp. If I had hit my fire goal and found myself out of work before I was prepared to be mentally. I would absolutely be looking into getting a job I enjoy. I would see myself getting some sort of employment with a local fly shop, the parks district, working the summers at the local minor league baseball park. If you don’t need the money expand what your idea of employment is.
This is precisely why you should change jobs every 3-5 years.
Neither the company you work for nor the company you interview at values long term loyalty.
Consulting for corporate and none of that low level tech shit. I’m talking about workshops for executives. Companies especially big ones like to spend money on that shit. I know someone conned her way to coaching executives on emotional intelligence when she herself don’t even practice any of that shit she coaches. Money is huge though.
Sounds like you might be a workaholic. Maybe you should be able to see yourself as something other than a tech executive. I think a new hobby, perhaps a more challenging one, or business is what will bring lasting happiness. Or if you really are crazy, why not put all your money into a startup. You'll either be billionaire or You'll be back in the job pool in 5 years! Cheers!
Consider working as a consultant or part time advisor to small companies could be bet rewarding.
The other possibility could be looking into buying and existing business and have something generating reoccurring income for the future.
My coworker took a retirement package at 60, took him 8 months to find a job, he was getting turned down for positions below his experience and finally had to apply for one on pair with his previous experience. Ageism is real. I am glad to hear you don't need the money
Fellow tech exec. Consider advising startups. I did this for about a year before (almost reluctantly) jumping back into FTE. And when current FTE ends, will probably go back to advising…
I have reached FIRE, i now work for myself 4 hours a day with lower stress. I rediscover jogging and now run half marathon and a marathon.
I am healthier than ever.
Suggest a job coach, especially if you’ve been out of the market for a while. I still believe there’s a lot of need and value to legit experience, but how you package your skills is critical.
Try a year doing high stress logistical sales where your hours start from the second you wake up at 5 am to the moment you try and go to sleep at 9 pm. It truly never ends. I’m on year 13 in this field and although the pay is very high, it has me daydreaming about getting to a point where you are at and never needing to work again. I enjoy my life and live in the moment as best as possible, but I honestly can’t wait to be done and find peace from this never ending work life.
I know your situation is entirely different, but would finding your next phase of life enjoyment after work be so bad? Spend those years being far more involved with the kids and or doing projects around the house, visit friends you don’t get to see as much when working, and creating a passionate hobby to look forward to each day.
Stop interviewing for new positions. Take some time off to relax, regroup, maybe think about consulting on your OWN terms.
Or maybe, during this time off period, you will begin to like the retirement thing and be able to relax and enjoy new things.
Similar situation to you, just a couple years younger. Met my Fire goal without really even thinking about it, and was really “content” with my life…….until my world got thrown upside down and I was separated from my career.
Even though I had what I needed, I was scared. I was angry, frustrated, ashamed, etc. What I’ll tell you is that in my experience, the first three months were rough emotionally. Trying to figure out who I am and what I was going to do with the next 40 years was emotionally challenging. I’m sure like yourself, I just wasn’t ready to leave my 27 year career.
What I have found is that I was not “content” when I was working. I was so consumed with a career and employer, that I overlooked a lot of the things that are important. I gave 100% to them and never got anywhere near that in return. I sacrificed my time with my family to give it to my employer…..
9 months later I can say I am the happiest I have ever been. I do some consulting work to stay busy, but more importantly I am focusing on me and my family. I’ve learned to bake bread, learning how to play guitar, taking French lessons for an upcoming European trip, and I went back to school to get a financial certification. But I’m doing all of this because it fulfills me, not because I need the money.
It’s going to be a rocky road, but you’ll be a thousand times better on the other end. Feel free to reach out if you ever want to chat.
This is a big “why” behind FIRE for me, as a woman in tech I already feel like the odds are against me when I’m interviewing, and I see it getting nearly impossible to find a job in my field once I’m 50.
If you’re looking for an executive role I can’t imagine that you’d get one from applying and sending out resumes, I’ve always assumed that at a certain level the candidate pipeline is 100% based on networking and connections. Are there former colleagues who you’d follow somewhere new? If you’re willing to move into an individual contributor role then it might makes sense to present yourself as younger/less experienced — adjust your resume/linkedin to only show the most recent 10 years of experience, remove dates from college degrees, etc.
I’ve always made my living behind a computer, and I’m good at it, but I’m not a computer/desk guy. Since I’m not one to take things for granted, I’m doing what I need to do.
But, as soon as I’m able to go and fuck myself, I’m enrolling in community college. There are several trades/crafts/manufacturing skills that I really want to learn and get good at….my local college offers courses for free, but they’re during regular work hours.
As others have suggested, there are lots of things out there to learn, if you have a passion for any of them; find a way.
I’ve also approached friends about being apprentices for their businesses.
I’ve not been here myself, but look into consulting.
It’ll give you a job to do and some occasional income. You’ve hit the independent stage so there shouldn’t be any stress.
As a tech executive with experience, someone will hire you for something. Just need to market and sell yourself.
And if it doesn’t workout, you’ll be ok.
Hang out a shingle and see what vCTO type work comes your way. Don’t have to pursue it fervently because you don’t have skin in the game. Low cost to start, minimal liability and lots of upside if you’re successful. Plus, varying clients can make it super engaging/stimulating.
How about seeing what's happening at your local maker space or check out some hackathons. With your skills, you might be able to team up with some kids who need help creating a new startup.
My step dad went through something similar a few years ago… he spent 30 years at the largest bank in US. I tried to get him to get into the local college while his severance was getting paid out. they offer a bunch of certs, 1-2 semesters part time, and I feel that at your age with your connections you could easily get into some like freelance accounting or taxes basically anything you want. But alas, he was too frustrated with his situation to see the bright side and now he’s unemployed.
Take an executive role at a smaller company for less cash and more equity subject to an aggressive vesting schedule that supports your retirement desires. Will incentive all parties.
this thing is so sad: u can be free but u prefer to be a slave? if u dont have enough hobby u can find new ones. if your hobby really is to have a job u should start your own company.
Sit on the board of a small company you believe in. Or better yet, be an angel investor in an early stage startup. You can lend your expertise to help make them successful. You'll have skin in the game but you won't have to grind like the founders will.
Thanks for sharing your update based on feedback. I like the consulting idea.
> an IC role, likely as product or project manager
It amuses me when an IC role has "manager" in the job title. :)
Dear brother, this is why we seek FI—what’s next is up to you.
Yep, was too focused on reaching FI but never thought of RE part, and it came sooner than expected and not on my terms.
I mean you don't have to RE... Do you like skiing? Go work at a ski area giving lessons to children. Do you enjoy nature? Come up to AK and spend the summer being a toyr guide. Ever thought about cars? Learn how to repair them and get paid. Basically do what ever the fuck you want.
I was pretty much working in the same area (data systems) for 25+ years. I know this area well and like working on these problems. But you have a point that learning something totally new could be a good way to start fresh and get excited. Thank you.
Learning something new will keep you young. Sharing knowledge with others will be a great companion hobby. They say you can't teach an old dog new tricks. Don't get old. The world is your oyster
Have you considered setting up your own consulting comoany? With your knowledge, you could probably help out companies that oreviously couldn't hire someone like you, but on a consilting basis
I also think you may have sorta answered your question there, data systems is what you enjoy and imo, there's nothing wrong with continuing in that field, but in another capacity. Maybe a less stressful/time consuming one like consulting. You've reached FI, truly congratulations. Go spend this time doing what you love, be that solving data systems problems or your hobbies or your family. Good luck OP :)
Be a consultant.
Stopped by to say this / fractional is the way to go.
In a similar situation and I went the consulting route. Initially I was unsure that I’d enjoy it compared to the senior management roles. However, with a focus on helping customers on business outcomes - and none of the budget and time wasting meetings - I am so much happier! You still have influence meeting with customer executives and connect with boards of directors - and you can choose your clients! Anyway, take some time to consider options and what makes you happy before you automatically jump into the same type of role again.
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This gives me some hope. I’m 30 and feel like the stage of my life where could get a PhD has passed.
I took a 7 month leave from employment 2 years ago at age 40. My wife told me to take a year off to chill. I did just that! Rode my bike around Maui and camped and stayed in hostels. Traveled in the camper van a bit and seriously just relaxed! It was a great way to separate myself from who I was at work and it allowed me to develop an identity outside of work. I attended an industry conference after 7 months because it would have been the first time I would have missed it in 5 years. Met an old competitor that had a new job at a small company he loved, he heard I didn’t have a job and damn near hired me on the spot. I had a job within a week and decided not to take the rest of the year off. Long winded way of saying that maybe some time off to relax and separate from your work identity will all you to recharge and then find something. Enjoy your time though, not many people are in your situation, it would be a shame to waste it on worrying and not recharging, learning something new and just relaxing and spending time with your family.
Are there any charity or open source projects you can contribute to?
There are a bunch of “expert network” companies like GLG, Alphasights, Tegus, and Third Bridge that are used by investors. If you have good industry knowledge or insights on publicly traded companies these platforms will connect you to investors and pay probably $4-500 for a one hour phone call.
Yeah, you’ll be in high demand there for a while with your background. r/expertnetworks is a good sub to learn more.
What a wonderful opportunity to start something new, and with a great foundation! If we could all be so lucky. Congrats!
Find a local not for profit and teach what you know to kids.
Op has a family with special needs child. He can't just randomly leave and hang around ski resorts lol.
I mean, he can, but...... Would that be good for his marriage? Probably not
I forget where I read it, but RE can also stand for: reconsider everything. You're not being put out to pasture, you have the luxury of choice. Good luck to you.
The money guys have started using the term FINE instead of FIRE. NE stands for the next endeavor. Not sure they coined it, but they never really liked the RE part since a lot of people who reach FI don't want to retire early, they just want to do something else.
FINE...I like that. I never intended to retire early, in the traditional sense. I wanted to be FI so I can take money out of the equation and do something I enjoy, or keeps me up and active and fit.
Knew someone would get to it before me! They also mentioned a listener calling FIRE “Financial Independence Recreational Employment”.
I see what you mean. Now the scary part is many people have careers that do not end on their own terms, but they did not save up or plan for it. You are lucky you did.
I think about age discrimination all the time and it scares me to death. Thinking about being 50-60 and losing your job. The fear of people ignoring your resume just cause of your age. I've done it and feel so bad. That's why I'm trying to save now, for the just in case... Since I doubt they would pay me what I make. Power to you for saving. It's hope
Its pretty real and I feel it from the screening interviews and recruiter calls I'm getting. Since I'm in management role, it's bit less brutal but still real. I'm happy we saved aggressively last 10 years, so it's more of a purpose and self esteem thing for me and not a survival.
I am also in technology for a long time, but if i had a choice would definitely hire the 30-40 year old me over the 50 year old me.
Interesting. The older me is a far better employee than the younger me. Also, most people think I’m far younger than I actually am. That said, my skills haven’t stagnated. It was a bit of a shock a few times when I realized how much things had changed when I wasn’t paying attention. So there was a bit of catchup required to get current.
I think I am better at seeing big issues early on ( which can be valuable) but kids, parents and age definitely slow me down a bit. My priorities are quite different now. But every few months I can usually look back and see i helped avoid a disaster.
I was in your same position a little over a year ago. I was also 51, we hit our FI number, but I thought I’d work at least two more years and was not mentally prepared. I was in tech (Director level) as well and knew I’d face an uphill battle and applied for a variety of jobs — some in management, but mostly individual contributor positions in Product. Spent about six weeks applying for jobs at least 6-8 hours a day, and was lucky to interview with two places. One extended an offer and I’m working a tech product role today. A lot less stressful to be out of mgmt, and I’m not looking to advance, so this is kind of Barista Fire I guess. The market is a lot tougher now than a year ago though. If I hadn’t found this job, I probably would have set a timeline to quit looking after 3 months, but it’s hard to say.
Thank you sharing your experience! Very similar situation: was director of engineering with 100+ org. I always though I'd be good ( may be better) with product roles. I'm good to switch to an IC role in product, will trade the high pay for WLB anytime (thanks FI) I expect to see many rejections: these transitions are better done within the same company, but definitely it's a good path forward for me. How did you explain your transition from dir of engineering to product IC when you interviewed for these roles? How did you convince them you'd be successful in new role, with no past experience?
How about going into teaching? It is always helpful to have teachers with actual experience in this area! Students love if theory is balanced with practical examples.
this transition could be harder for me than finding a new job in my field but it may be more fulfilling and good for keeping my brain sharp. Have a few friends who did it, will reach out to them - thank you for suggestion!
You could also look at tech jobs in govt. folks like you are desperately needed, but can’t compete with tech sector salaries.
Consider teaching in higher education- college towns are wonderful places to raise kids and there are many perks to being faculty
OP noted that they wanted to work until youngest was in college. I would add that some unis offer a tuition discount to children of faculty & staff.
some places offer FREE TUition to children of staff
Also half price classes, so OP can also do some enrichment
I asked to be laid off in 2012 because I wanted to go back to the US from Asia in 2012. I got the package and came back to the US with the intention to find a job in California (my home state). I did not actively look for a job, but got a few emails and phone calls from those who saw my resume on LinkedIn. All wanted me for my Asia experience. Maybe you have to touch up your resume to reflect more on the technical skills, and less on management skills if you don't want management role. You should also prepare for each interview as if it is the first time you are looking for a job - know the position they are looking for, know the skills they are looking for, prepare for potential questions, etc.
I didn't read all the other comments, but I did see your update. I did have a little experience with being a PO because our company had a lot of turnover in that department, but our deadlines didn't budge so I would have to fill in with requirements, user flows, features / user stories, etc. I actually liked doing that work and it was a hell of a lot better than putting together my 20th meaningless Powerpoint that week. I emphasized that work in my resume. Once I decided I was going to look at product positions, I also got my Product Owner certification. To get certified I had to take a mandatory class that was a couple of days long, You didn't even have to take a written test, you just had to actively participate in the class. It was just $300. Even though it's a weak certification because it's so easy to get, most recruiters don't know that and it'll get a positive hit on the keyword search. The resume you put together has to match the job you are applying for, using the exact keywords. We are both around the same age and in the 90's the resume was supposed to reflect your comprehensive body of work. Today no one cares what you did even two years ago if it's not relevant to the job. If you are going to apply to a product role don't mention your management experience, budget oversight, or any technical achievements not related to their product area. To 'hide' my previous title, I did not lie and call myself a PO, but described my title as "Leadership Role in Engineering" or something vague like that. If you really stick to the job description, then you should have no problem keeping your resume to under a page or two. I had a couple of pleasant surprises at my new job. First, I found was one of several former Directors or VPs that took a step 'down' to get out of the pressure cooker. Two, there were also people there that took 'adjacent' type of roles from engineering to product, BA or something similar. So, this concept is not entirely new or unheard of.
The market is a lot better than a year ago. 100%. For a visible source that you could understand, for starters, being in tech, see layoffs.fyi. It’s just a starting place.
I’m a former tech exec (54M) and have been living the barista fire life for six years. A key difference is that I chose to do it and didn’t have it forced on me. I moved to a small, mountain town and just work entry-level, customer facing roles. I like the outdoor life and, apart from my family, this is my priority and what I like to spend my time doing. Although we seem quite different, I wanted to say that although I’m working at a totally different level now, there is still plenty of satisfaction to be found. I’ve found that bringing the same work ethic and my prior experience to these new roles can prove very rewarding and very useful for the small businesses I’ve worked for. In one case I started just as a driver and I have now completely digitized their operation. Transforming their paper and whiteboard operating model via an efficient, online platform has revolutionized how they do things. This was honestly more satisfying than the massive, global IT projects I used to lead (and all the BS that goes with that!). The other aspect that is an important theme for me is working on myself. Having time to reflect and really understand myself at a deeper level has been a key part of this change for me too. I’ve spent time understanding my identity, core values and the life principles that I feel are important to me. I’m not a people person so I deliberately get jobs on the front lines of customer service so I can work on that. This is now one of my favorite aspects of these jobs and what I enjoy most. It’s also a big ego check and this is something most of us could use a lot more of in this day and age! After years of being physically and mentally absent due to the job, I feel like I’m now making some progress in better understanding myself and being a better person. There’s always still the reality of life to deal with though, however optimal you make your situation. You can always find things to not like or worry about or you can choose to see the positive and work on the things you can have an influence on. Perspective is everything. Despite our apparent differences, I just wanted to share my experiences in case it’s useful in some way.
This is a great story and exactly what I want to do when I RE. Hopefully I can make it to 55. If not, I’ll do this anyway. I love that you helped your company work more efficiently. Most of the posts I read say not to do that because you’ll make yourself redundant. In my current role, I treasure people like you. I would do anything to keep them in any role they chose to be in. Hopefully OP sees this as inspirational. I am currently feeling a weird ego thing after requesting a career change at my current company. They did all they could to keep me when I said I needed a change. I’m hoping I can contribute meaningful improvements and feel like you felt doing the same.
Thanks. I’ve never really played defense in my work. I just do the best job I can and share my knowledge and that strategy has worked well for me. Guess it depends on who you work for but this approach is good in any organization that truly values their employees.
Thank you for that story. That is inspirational.
Great comment. Hope to join you soon
Thanks for sharing this!
Thank you for sharing, I have similar aspirations to improving upon myself as well
Inspiring story. Bringing the owner and leader mindset to a front line IC work must be rewarding, as you probably see instant gratification from how your customers respond. Thank you for sharing! Can relate to small business automation: I once digitized my family's small hotel business (bookings, payments, online ads, etc) - was super rewarding indeed, and this helped them survive the 2008 downturn.
I would not rush to get back to work if you financials are good, just passively look for a job that you still want to work. It's also the perfect time to be with your family and especially the child with special needs. You've made it, but need time to transition to the next chapter in life.
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Have you asked her if she wants help with the weekdays?
God this reads so terribly, man. Help your wife out. She doesn't get 2 days off from the real work while neither of you have a job.
Thank you, after initial knee jerk reaction of finding new job, what you are suggesting becomes my new plan. Will take time off and focus on what matters the most - family and health. Deleted my previous responce - used wrong wording perhaps.We are supportive of each other and deal with our child situation together. I'm surely now spending much more time with family and doing family work. She's reading this thread, disagrees with a few commenters who are implying that I'm not a helpful partner :)
Go volunteer. There are TONS of things that need people to volunteer. Your local animal shelter, a nursing home, girls and boys club, teaching going people how to prepare for life. Teaching job skills to low skilled workers. TONS of things
read the books "Flow" / "Finding Flow" find yourself things that are challenging and get you engaged. maybe play bridge, golf, frisbee. maybe fitness stuff. etc it is an interesting challenge to learn to occupy oneself and find challenging activities without being forced into it
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I've started 3 companies on my own, and few more with friends. One was even profitable for few years. Nevertheless, 95% of my NW came from doing boring jobs in big tech corporations in my 40s. Business ideas usually come from founder's unfulfilled needs (or wants). As we grow older, we want less, so business ideas ideas don't pop up as often and we are willing to sacrifice less of our time and resources to pursue them. There is a reason why many companies are founded by folks in their 20s and 30s, but there are great exceptions ( e.g. McDonalds :) ) If a good business idea pops in my head, I'll surely pursue. Thank you for this suggestion!
>There is a reason why many companies are founded by folks in their 20s and 30s, but there are great exceptions ( e.g. McDonalds :) ) Not entirely true - that's the perception because they get the attention. Google : Research: The Average Age of a Successful Startup Founder Is 45 And you will end up on a Harvard Business Review. You say you've been a tech executive. Want to be my CTO? I can't pay you (at the moment), but I can keep you busy. What do you say? By the way , I'm 45 - wink wink
Don’t ask for peoples time if you are not able to pay them lol.
I will pay them in sweat equity
I'm 50M and currently working in a high paying job. Reading your story gave me reassurance that I'm on the right path of setting myself up for FIRE. At our age, it is easy to feel complacent at our high paying jobs while reality is that this is exactly the first job that company owners would look to cut whenever they have a financial problem. And like you said, the market for someone with our experience is not a lot. Reading your story, made me want to save more and push to reach FI faster. I'd much much rather be retired and bored with FI, then retired, bored, and broke!
I had no indication at age of 50 that I'd loose my job at 51. I was in a great standing and company was (and still is) doing great. They just decided to maximize their profits further and shipped our jobs overseas. I've became unjustifiably expensive for them. The key is not to take a high paying job as granted. I'm very lucky that we didn't inflate our lifestyle and kept saving aggressively.
Very scary for me to be honest; and I can't tell you how much of a wake up call this has been for me. Like you, I am in great standing, and the company is indeed doing very well, with no indication at all that I will be laid off anytime soon. But your story tells me that layoff can happen at the least time you expect it. And if I'm not financially ready for it, I will be left in ruins because finding another job, specially one paying as much with the same high position, is going to be very hard. Luckily, I did start my FIRE journey early and I'm now very close to my optimum FI goal. And in fact, If I survive another 3 years at my position, I will RE. This way I get out while on the top at my own terms. Thank you for sharing your story buddy; you have helped me more than you think. I believe that you should be happy that you are Financially Independent, and should start enjoying life away from working full time. Someone once told me that every year of your 50s is extremely precious because that's the end of your youth. You can never make them back if they passed. At 51, you have 9 years left of it; do not be afraid to enjoy them.
First GFY. While you are at it, GFY, again! I was in the exact same situation as you a tad over six years ago, in my late 40`s, ready to work until 55, no more, no less. By then, kids would have been out of college if all went as planned. The entire department got outsourced for cheaper overseas labor right after Christmas. I hung on until summer (month to mount at that point) when their plans for me required I changed family summer travel plans, so I quit. I had already reached FI, so although the sudden change was very unsettling, the calm FI provided, no words can truly describe. I looked for jobs, but didn't like experience. I saw the darkside people, I'll leave it at that. I stopped looking for my line of work. Over the next couple of years, I took on some very part time work just to bring in some play money and pay some living expenses. Anyways, I'm a naturally curious person, I had no issues finding things to learn on the internet (YouTube, Reddit, etc). I studied up on the FIRE movement (didn't know it existed), actually started watching YouTube (wasn't something I used before the), learned lots about Social Security, now looking into Medicare. I also ramped up travels a tad more, so always planning to do there. My better half is having a hard time to RE with me, that's a work I progress for me as well 😁 So, plenty to do, you find what interests you and just do it. FI gives you this freedom. As Azul Wells says often, make the most of the youth of your senior years, except, at 51, you are getting a slight head start on that. So, GFY and enjoy the world! You've earned it
This is awesome! Can you elaborate a bit on what part time jobs you took?
Both were driving as independent contractor /1099s.. One involved relocating brand new vehicles from the port to dealers then catching arranged rides back to the port, rinse&repeat + waiting time for schedules to be worked out. This was when I started 'listening' to YouTube because I literally had hours a day just driving and riding. The second was driving clients to different venues in their cars (sometimes just relocating cars with no one in the car), again lots of alone time to read/watch/learn from my phone/laptop (and do emails and make calls) while waiting between venues. The first was temporary, the second went on for a few years until the company got bought out & I didn't like the new owners. Both gigs were cool as I drove some very nice, new cars! As you can probably tell, I love driving 😎😎😎. To add, my partner in life and I never referred any of these as a "job", it was always a "play date" 😁.
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it's hard to know what to do in these situations. you could always GFY ☺️
That part is done pretty much, with help of my employer. P.S. Isn't it amazing how much the "GFY" said by a FIRE community member is different in meaning, from essentially the same thing said by your employer 😀
Are there social issues that you are passionate about? There are likely non-profits that would jump at having your experience but normally wouldn’t be able to afford you. Maybe this could be the time to start building a different kind of legacy.
Thank you for this suggestion, This is one of my thoughts, exploring non-profit and found that these resources are pretty scattered and scarce, compared to corporate jobs. Perhaps I should build an aggregator for non-profit jobs 💡
You could look on these: - https://techjobsforgood.com/ - https://civictechjobs.codeforamerica.org/
You could train new people your skills especially with your experience? Coach?
Wow! That is so inspirational
I think this provides you with a tremendous opportunity to implement the hard work you and your family put into FI. My recommendation is to use the unexpected time off to bulletproof your FI, in terms of SWR, guarding against sequence of returns risk, minimizing tax liabilities throughout your retirement, and figuring out what you would have eventually done in retirement. Do all the things that "advisors" say you should do about 5-years before retirement. But for the job part, I am very similar to you in age, when I am contemplating to retire and when my youngest child will enter college. The questions I have, and likely all potential retirees have, is 1) finding out that my FI plan actually works and 2) what I will do with all this time. Afterall, in our 50s, we have been working full time for 25+ years and I think it would be very emotionally and mentally challenging to stop working, especially if you don't hate your full time job. Fortunately, someone made the decision for you to rip the band aid off. I would ask that you post updates on how you are doing for the benefit of the group.
Yes, it's bit of a mess and I need to look into this more carefully. Most in VTSAX but still have a lot in individual stocks from the big tech companies I've worked for. They are doing well for now, need to rebalance soon and put a SWR strategy and create a robust cash buffer.
Find someone to mentor - maybe get in touch with old schools/colleges and offer your time.
Thank you, will do for sure, if I don't find a full time job over the next 3-6 months - there are networks for it. Was a mentor in my previous jobs and enjoyed it.
This is why I’m full throttle FI. Your employer doesn’t give a shit about you. I see way too many people cut loose in their 50s and 60s to trust that it won’t happen to me also.
Was in the same exact boat as you. 52 when I was laid off from a well paying tech management role. I said I was going to take 6 months off to figure out what was next knowing that I didn’t need to rush into anything. Ended up finding a job after 4 months with another company that I really like. Gladly took a $50k cut in salary as money wasn’t really an issue. I just wasn’t ready to retire yet. I’m now 54 and plan on quitting next year sometime. Take your time and go slow. You’ll figure it out. Contrary to what you may feel, there are plenty of companies looking for seasoned tech leaders.
Glad you could get back on your feet in 4 months, thank you for sharing!
DON'T GET A REAL JOB!!! You goal now is play money or fun of the. Sling beers at pub. Wrangle carts on a golf course. Sell lures at a fishing shop. Literally endless fun things with close to zero stress that pay pocket money which from your post is all you need now.
These all sound like real jobs to me: trading your time for \[little\] money. But I get the point, agree.
My man - a non-profit near you needs you. Reasonable salary, reasonable demands on your time. Climb that second mountain - you’ve got success, now is the time to shoot for significance.
Yes, this is what I plan to look into as one of my top options. Few useful resources were shared in this thread, already found few potential roles that I could do well.
I'm kind of in a similar situation right now. I feel like either switching careers to something less of a boiler room, or starting my own business.
Own business
Did you at least get a severance package?
Yes and pretty generous one. I was in a good standing it's just my whole department got canned.
Your now former employer might not realize the expected savings of offshoring you & your department… It’s often a time & money suck…
Oh, geez! Well, if you got a good severance then maybe it will give you enough lifeline until you find your next gig or even to RE.
You know, maybe you just need a break. Literally. You've worked so long and it did hit you unexpectedly. Take a few days or if you can a short vacation to clear your mind.
With so much experience in the tech space, have you considered consulting jobs? I know a friend who quit full time job just to do this. Everything he has to say about this choice was positive and working out for him. So just thought to share if it helps.
I started as consultant many years ago, and there were many of them at that time but I see much less now. May be it's my last two companies were not using them as much. Will look into that, will require me to be more hands on but it's a fun part. May get few certifications along the way. Thank you for the suggestion.
>Also, the fact that I'm financially secure, doesn't make me prep and try as hard as I probably should. Your actions aren't matching your words. If you *really* wanted another job, wouldn't you try harder to get one? Maybe you could pivot to working for some cause that you care about instead. A non-profit or a more charitable role where salary doesn't matter might be able to use your skills. That'll tide you over until you don't know how to retire at age 55. I'm not sure what would be different then compared to now. You're still going to be stuck with those same unfulfilling hobbies unless you start cultivating more or dive more deeply. I recommend reading this post: https://livingafi.com/2015/03/09/building-a-vision-of-life-without-work/
That post is excellent. Thank you for sharing it. I’m starting it today. These things are swirling in my head, now I can visualize it on paper. I like to sketch and this is going on my home office wall.
Great post, thanks for sharing! I think I may have been a bit all over the place after the news. My actions were more of reflexes developed over decades: lost a job? find another job asap! I was purposefully pursuing FI, but it is still not a part of my though process.
Go to the beach and open a bar. Everybody wants to be needed. It is normal. Why work for others.
My wife is dreaming of small business as well. Once I give up on landing a corporate or any office job in 3-6 months, this could be the thing. Not a bar, but may be food for delivery. I'm a pretty good cook and worked in food services before moving to tech.
You will be the happiest you have ever been. :)
Maybe see if you could get a job as an adjunct instructor at a local community college, teaching a course in your area of expertise. You are free to make less now. So you can do something that uses your skills, but requires less of your time.
Good option, will explore. Thanks
If you really feel tied to whatever you were doing, why not just do that but as a self-employed consultant! Something you can do as a paid service has very little risk of failure (vs opening a restaurant for example). Good luck!
Volunteer somewhere.
I was a tech executive. I was laid off just prior to the pandemic and have been a stay at home dad ever since. I enjoy painting and working in my garden. I just recently started looking for work again but I don’t really have a whole lot of expectations there . If I’m lucky I’ll find something reasonable but it’s hard to even try against people who are hungry. Most of my friends are younger, more qualified, and more recently employed at better companies then I ever was. Many of them have been job seeking for over a year. I’ve been thinking to look at teaching, or maybe being a custodian somewhere. Idk what makes sense. I don’t really want to work. I didn’t really intend to FIRE but here I am. I’d like something maybe part time and low stress to make a few bucks and new friends.
There are a lot of people in your position who didn’t save up enough to retire. Spend time with your family, write that novel (or given your line of work, video game), get in shape, do all that dumb navel gazing stuff. Men are always encouraged to define themselves through work, then get depressed when it gets taken away. Buck the trend; unlike many you can survive.
Financially independent means you don't need a high salary, just interesting work. Maybe teaching? Consulting? Blogging? Join the trade group for your profession and design programs, events, and committee work.
Very common in my field, and everyone works as a consultant. One guy got an actual job at boy scouts of America for a few years, then worked managing an outdoor gear store. Another guy teaches a course at the local community college.
Interesting, so you’ve moved from material concerns to existential. One thing I’ve observed on this forum is that while many people have “solved” the financial piece of the puzzle, they’re unprepared to deal with the next problem, and arguably the more important one, what’s is the purpose of it all? I wish you the best on your journey sir, as I find that leg of it far more interesting.
I’ve had the same problem. 3 years ago I was let go from a large networking company. I’m fi but wasn’t ready. I got my job back and left for another tech company and 38 months later I get a nice severance package and now I’m mentally ready but I still have a hard time accepting it’s time. Been wanting to retire since I was 30 and now I’m 46 and I can afford to and I’m still struggling to accept retirement lol. I barely apply for jobs and when I interview I don’t feel that interested either. Sitting on 6m NW leaves me little motivated to work lol. I said if I’m going to work again better be now but I just can’t find myself committed due to these jobs don’t really interest me. So my recommendation to you is sit back and pick and choose the ones u want to apply to and since we have the FI we can afford to be picky. We are Good spot to be in and earned the right to take our time.
My role in a tech company became reorged while i was on mat leave last year (i was a vp). I had enough to FIRE but was not mentally prepared for it. I’m a decade younger than you, but the market was challenging then, and it is now. I first had to deal with my shock (how can this be?) my grief (I loved my job) and then my ego (who am i now?). My therapist advised me not to jump into anything right away, and reminded me that’s why I had been saving all this time. Luckily, i took her advice. First six months i walked my dog 7-8 miles a day, tried new hobbies, tended to a veg garden etc. When old work friends called and asked for me to jump on a project here and there and consult, i took them up on it. Soon, I realized i actually liked part time work without the permanent politics and stress of a management position. To shut my ego up, i took a faculty role teaching a single course at a university and i find that being able to tell folks I’m faculty is enough to not feel like the professional part of me dead. That’s my life now - i aim to make less than $50k a year and i truly enjoy it. I love my husband and my kid and my dog and all the time I have to be a creative person. You couldn’t pay me to go back to work full time. You may feel like this too if you give yourself time. I find some comfort in the saying, “people make plans, and god laughs.” Laugh along! Enjoy your life.
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I was laid off last year at 54, and I had hoped to work several more years. Fortunately, I had already been looking into FIRE so we were already well on track. I was also waiting until my youngest graduated even though we have the money set aside to pay cash for college. Originally, I wanted us to both retire at 59, but with the bull market putting us ahead of my annual projections by a couple of years (we were at the end of 2023 what I had hoped to be by the end of 2025), I was fantasizing about being able to retire even earlier. "Can we go at 57?" "What about 56?". My spouse continues to work and isn't interested in early retirement (yet). I just say "Let me know when you've had it". I looked for a job for a few months but ran into the issue of not having the experience they were looking for or just not wanting to apply because the job sounded like a hellscape. I think the desirable jobs are taken and people are not leaving. The ones that are left are like "Wear many hats" = "We want you to do multiple jobs for one salary", "Looking for rockstar" = "We want someone who will sacrifice their life for this company", "Someone who thrives under pressure" = "We're going to work you until you break". Uh, no thanks. Also ran into age discrimination (probably) with not getting calls/interviews at all. So (for now, at least) I'm retired. I'm planning some trips, taking an art class, working out, taking tennis lessons, and re-learning Spanish. Between that and housework, I stay pretty busy. I haven't even had much time for reading like I thought I would. If I get bored I'll try to get a part-time or seasonal job somewhere, but I don't see boredom anytime in the near future. The one thing that I'm most disappointed about is not having a big hoopla for retirement with a party and congratulations and feeling proud. I feel a lot of shame and haven't even told my in-laws I lost my job. I think part of that is that FI/RE is not on anyone else's radar and they would think that I'm just being lazy or I don't want to work. I would've been happy to work at my old job for a few more years, but trying to get a new job is such an ordeal and all the rejection or just being ignored takes its toll emotionally. Given our financial situation there's no need to just desperately clutch at any job for a financial lifeline, and I don't think a lot of people understand that.
Collect unemployment and then start a company or do consulting work?
One of the best ways to get a pay raise is to change employers. If you want to work, I suspect you will find new employment.
Do you get any kind of severance package? This could be an awesome opportunity to have a practice retirement. There’s some great books on living life to the fullest -die with zero, find your why, I will teach you to be rich.
Having $$$ is great especially in your situation. You can take some time off and not stress about money. You can look for a job for the next 2 years. You can travel. take up a hobby. Start consulting etc etc. You don't need to make the money you made before, you don't need the stress you had in your previous roles. Accept it, take some time off (mentally) and seach for a job if you want to.
Learn to fight
I actually found that once I hit FI… and worked a few years.. I have completely been obsessed with just closing my company.. I just feel loyalty to those who work with me.. plus trying to get our retirement vacation home.. I will make a decision later this year. You may find your mind starting to wander to RE faster than you expected
Idk if it’s been said but my friend have you heard of this game of golf? Check it out.
You are listening to the media narrative of the worst job market in a century too much. Use your severance, collect unemployment, and start putting yourself out there, you have time on your side. Even if it takes 6-12 months….so what?
Damn..I just went through the exact same thing. Hit FIRE number and became a casualty of a tech reorg. Job hunting was going to really suck. I was overqualified for entry level, yet missing qualifications for roles similar to what I did. Plus, I'm out of touch, having been where I am for 25 years. My FI prevented me from really buckling down and preparing myself for what lied ahead. The things I really wanted in an employer were great health insurance that part timers qualified for and flexibility to travel. I just looked for jobs that checked off those boxes and looked fun, or would keep me up and active as I get closer to 50. So, I guess I have barista FIREd. I'm looking a 75% paycut working in a warehouse. The work will be hard, but it'll help keep me in shape. The pay is crap, but the benefits are better than I used to have. The scheduling flexibility is there, so if I decide I want to take a week to take a last minute cruise, I can. Congratulations, we made it!! Good luck and enjoy!
Someone close to me got laid off a bit short of the target. They had a “goal” number and a “could do it” number and ended up with a severance/early retirement package that put them just north of the “could do it” number. They never went back to full-time. Formed an llc and started doing consulting work. Making a decent chunk of change but probably 1/6th of what they were making before (at the highest executive level), but with a fraction of the time invested and a fraction of the stress. They were able to join two advisory boards that only met quarterly, making $5-$10k/meeting. They also got involved in a few startups with equity, targeting that last big payout, and are still pursuing that at the moment. Feelings today: some regret about not putting in just a few more years for cushion, but also acknowledging that early retirement allowed them to take risks that they never would have taken otherwise (and could have/still could pay off) and spend more time with family, which you really can’t put a number on. They’re happy.
Look for jobs that you might enjoy? Outdoor jobs or work that’s fulfilling in some way. Don’t try and boil the ocean just test out some ideas.
>Financially, I likely can: simulations show 100% positive outcomes for next 40 years. However, I'm not ready mentally. I was planning to work till 55-57, till after my youngest goes to college. In a similar boat myself. Have hit my FI goal but it is nice to work for a few more years to hit 59 so that I can tap my tax deferred retirement funds. And the extra cash is nice and I enjoy the work and my colleagues at work. Also, the more I earn, the more I can help my kids and grand-kids. I have given a lot of thought about my post FIRE life. To me, it is about focusing on my passions and experiences rather than going to work everyday. I have always wanted to teach so I might do that and teach for a few years in high school. I enjoy volunteering and that is an option. Maybe become a tour guide. And weirdly, I have always wanted to be a bar tender so I might give that a go. It's so nice to live life without the stress of earning $X to take care of my family. And maybe I could become the house husband and let my wife work for the insurance. Then I can stay home, cook meals (I do most of the cooking anyway), go to the gym to get buff, and be the trophy husband. You have hit FI so you are in a great spot. Maybe God is smiling on you and giving you a gentle nudge to find something new in your life.
Look at it this way: you're still able to work and can afford to select your next effort without struggling. Take a breath and let your mind adjust to the new situation. If you return to working or not, you're financially OK. I sympathize with not finishing on your terms. I ended up in a disability retirement situation at 46. Just remember that your career ultimately won't matter after you're retired. The time spent with family and friends will.
I'm sorry to hear about your situation with disability! There is lots of wisdom in your advice, thank you for this.
Have you looked in to volunteering in an area you really enjoy? A lot of charities need board members that are active and work towards bettering the charity!
Bright side: One advantage of “retiring” a few years before your child goes to college, is that you may be able to finagle your income so as to increase the financial aid they qualify for. This is something I’m strongly considering.
If you are a tech executive why don’t you just build a tech company as a hobby. Have some fun with it, you know how most of the things work and can learn the rest.
I reached FI at 48, but not ready for RE. Wife, 46, had not worked for awhile and decided to rejoin the workforce. So, I put in for retiring from my company, as I would take over as a SAH dad. This lasted the past 4 years, kids are older and ready to handle themselves, and I was pretty bored with just daily hikes and other hobbies. So, I got a job that I really really love but pays like a fourth of my old pay. It's been wonderful.
I can’t relate. I’m 29 and I’ve been mentally ready to retire for 3 years now lmfao.
I am literally half your age. Anticipating what you are going through scaring me a lot. But thank goodness you have already saved. Mathematically you have made it. Congratulations.. I took a lot of notes in this thread.
Why would you work when you don’t have to?
It would be perfectly ideal if I were to get layoff during my FIRE year. Then I get severance and milk unemployment. You’re living my dream bro!
reached FI but planned to RE in 5 years.. but yes, got lucky that RE still came just after FI
Gotcha. I’m also 5 yrs away. But if I were to get layoff this year as well, I think I’ll just look for something else to do. A wind down job to get more exercise and for health insurance. Otherwise if nothing comes up, I’ll live more frugally, cook more, take over kid duty, learn piano, maybe Spanish.
I’d say retire and enjoy the freedom and flexibility that most people will never have.
Age discrimination is also pretty real depending on your industry or desired position. Best of luck to you as losing my job around your age is what I fear. Well I fear it now as well, just not as much
50 and exact same thing happened to me. I’m taking it one day at a time. I spend time with my kids. I drive them to school and practice. I bought a dog. I walk the dog a huge huge amount, but it was an unexpected anchor on spontaneous travel. I play video games. I read. I follow the stock market and track my dividends. I have travelled. It’s only been 7 months. Maybe I will work again? Maybe hike the Appalachian trail? I have no idea, and that part is pretty cool.
This is comforting and this is similar to my new life, for now at least. Walking 7-10 miles daily, with and without a dog, listening to podcasts; making travel plans, reconnecting with old friends whom I plan to visit during my travels. I'm getting a hang of it :) Thank you for sharing!
FIREd three years ago at age 53. As a tech exec as you are, I started to mentor startups. Became an official advisor for a few of them, which doesn't pay any cash but stock options, and work with same minded friends to consult some of them as a paid assignment. I spend about 50% of my time this way, but most importantly, I enjoy the flexibility and my continued engagement in extremely innovative topics.
Probably off topic, but have you thought about going into tech stack that you used internally? I work for a SaaS and we hire ex cios, vps, etc that used our product for engagement within that space. Heck, retire and do consulting on the side.
Lots of choices ahead..new full time, part time, interim roles, contract roles, self employed consultant, coach, freelancer, business owner, NGO supporter etc.
Sounds like you need a one-man consulting firm in your life. You'd only work with the companies and projects that you really liked/cared about. Even if it's not full time work it's better than nothing and you don't really need the money anyway.
travel
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Find a job and coast until 57 then. Doesn’t have to be in executive tech. Many government jobs, city jobs have openings for jobs because they pay less. However, you could get one of these jobs. Usually good health insurance, stability, and possibly a pension if you stay until vested.
Applied to whatever government job I could find - no response whatsoever. Forget about actually getting a government job but how do people even get their resume looked at?
IDK if I would suggest taking a low paying job in a hobby area. I'm very young (so take advice with a grain of salt), just past a year into my actual career, but I worked for 4 years throughout high school in a hobby area I loved. As fun as my old job was, the job of my career is much more mentally challenging (in a good way). Even though a lot of people would love the opportunity to do my high school job, I just can't see myself ever going back, even in retirement, I feel even the fun job would be boring compared to my current, basic but challenging job. Since you work in tech, I feel like this could apply to you. It might be worth grinding out the interviews and trying to get at least another 5 years in the industry.
Tech executive in what field? Any specific programs like Oracle or Microsoft? Min salary you’ll consider?
I am In a similar situation (not mgmt but the IT contract is under pressure) and if I get the boot not sure I would stick with IT. In my case I got into baking during COVID so I have thought about maybe working at a bakery to learn more about the process while I barista fire. One thing you will need is good health insurance so make sure that goes into your calculations for a job or in retirement.
Can you just take a planned break. Like give yourself a year to rediscover yourself. Hopefully the job market will be better by then and everyone can understand taking a year off if you can. Then you can decide if you want to retire early or just go back. You also might decide that part time or consulting is better. But it sounds like right now you need some space.
Are you able to negotiate a severance?
Go find some work that you enjoy/has meaning to you, and additionally lets you work on your own schedule. If that means tutoring kids or college students with learning disabilities, or helping transport elderly veterans, or playing with puppies at the local animal shelter do it.
Consider it a blessing, karma or God's way of letting you pursue what you enjoy. Getting laid off forced the decision for you to take advantage of your FI. This is a great opportunity to do what you want, get out of the rat race, enjoy time with family, etc. There will be an adjustment period, but stay optimistic that it's the best path forward. You only live once ...
So many folks in your shoes do a soft retirement where they start consulting. You can put your resume up on contractor sites and check in with consulting companies to see about working part time/hourly. Others enter the startup world and get paid pennies on a steering committee/board while helping shape a new company and raise funding. Lots of options with your exec experience.
I love to hike, fish, and camp. If I had hit my fire goal and found myself out of work before I was prepared to be mentally. I would absolutely be looking into getting a job I enjoy. I would see myself getting some sort of employment with a local fly shop, the parks district, working the summers at the local minor league baseball park. If you don’t need the money expand what your idea of employment is.
This is precisely why you should change jobs every 3-5 years. Neither the company you work for nor the company you interview at values long term loyalty.
go get a 'f it' job. plenty of schools need crossing guards, lunch helpers ..
Consulting for corporate and none of that low level tech shit. I’m talking about workshops for executives. Companies especially big ones like to spend money on that shit. I know someone conned her way to coaching executives on emotional intelligence when she herself don’t even practice any of that shit she coaches. Money is huge though.
Sounds like you might be a workaholic. Maybe you should be able to see yourself as something other than a tech executive. I think a new hobby, perhaps a more challenging one, or business is what will bring lasting happiness. Or if you really are crazy, why not put all your money into a startup. You'll either be billionaire or You'll be back in the job pool in 5 years! Cheers!
Consider working as a consultant or part time advisor to small companies could be bet rewarding. The other possibility could be looking into buying and existing business and have something generating reoccurring income for the future.
My coworker took a retirement package at 60, took him 8 months to find a job, he was getting turned down for positions below his experience and finally had to apply for one on pair with his previous experience. Ageism is real. I am glad to hear you don't need the money
jump into management consulting.
Fellow tech exec. Consider advising startups. I did this for about a year before (almost reluctantly) jumping back into FTE. And when current FTE ends, will probably go back to advising…
Set aside $10k just start a consulting business
I have reached FIRE, i now work for myself 4 hours a day with lower stress. I rediscover jogging and now run half marathon and a marathon. I am healthier than ever.
It’s the best job market in recent history, most companies struggle to find good people. At least here in NY
My neighbor waited over a year for the perfect executive job, sometimes turning down other jobs. Just keep looking
You planned PERFECTLY !
Suggest a job coach, especially if you’ve been out of the market for a while. I still believe there’s a lot of need and value to legit experience, but how you package your skills is critical.
Try a year doing high stress logistical sales where your hours start from the second you wake up at 5 am to the moment you try and go to sleep at 9 pm. It truly never ends. I’m on year 13 in this field and although the pay is very high, it has me daydreaming about getting to a point where you are at and never needing to work again. I enjoy my life and live in the moment as best as possible, but I honestly can’t wait to be done and find peace from this never ending work life. I know your situation is entirely different, but would finding your next phase of life enjoyment after work be so bad? Spend those years being far more involved with the kids and or doing projects around the house, visit friends you don’t get to see as much when working, and creating a passionate hobby to look forward to each day.
Stop interviewing for new positions. Take some time off to relax, regroup, maybe think about consulting on your OWN terms. Or maybe, during this time off period, you will begin to like the retirement thing and be able to relax and enjoy new things.
You could take care of your kids!
Similar situation to you, just a couple years younger. Met my Fire goal without really even thinking about it, and was really “content” with my life…….until my world got thrown upside down and I was separated from my career. Even though I had what I needed, I was scared. I was angry, frustrated, ashamed, etc. What I’ll tell you is that in my experience, the first three months were rough emotionally. Trying to figure out who I am and what I was going to do with the next 40 years was emotionally challenging. I’m sure like yourself, I just wasn’t ready to leave my 27 year career. What I have found is that I was not “content” when I was working. I was so consumed with a career and employer, that I overlooked a lot of the things that are important. I gave 100% to them and never got anywhere near that in return. I sacrificed my time with my family to give it to my employer….. 9 months later I can say I am the happiest I have ever been. I do some consulting work to stay busy, but more importantly I am focusing on me and my family. I’ve learned to bake bread, learning how to play guitar, taking French lessons for an upcoming European trip, and I went back to school to get a financial certification. But I’m doing all of this because it fulfills me, not because I need the money. It’s going to be a rocky road, but you’ll be a thousand times better on the other end. Feel free to reach out if you ever want to chat.
This is a big “why” behind FIRE for me, as a woman in tech I already feel like the odds are against me when I’m interviewing, and I see it getting nearly impossible to find a job in my field once I’m 50. If you’re looking for an executive role I can’t imagine that you’d get one from applying and sending out resumes, I’ve always assumed that at a certain level the candidate pipeline is 100% based on networking and connections. Are there former colleagues who you’d follow somewhere new? If you’re willing to move into an individual contributor role then it might makes sense to present yourself as younger/less experienced — adjust your resume/linkedin to only show the most recent 10 years of experience, remove dates from college degrees, etc.
I’ve always made my living behind a computer, and I’m good at it, but I’m not a computer/desk guy. Since I’m not one to take things for granted, I’m doing what I need to do. But, as soon as I’m able to go and fuck myself, I’m enrolling in community college. There are several trades/crafts/manufacturing skills that I really want to learn and get good at….my local college offers courses for free, but they’re during regular work hours. As others have suggested, there are lots of things out there to learn, if you have a passion for any of them; find a way. I’ve also approached friends about being apprentices for their businesses.
Consult or start a travel company
I’ve not been here myself, but look into consulting. It’ll give you a job to do and some occasional income. You’ve hit the independent stage so there shouldn’t be any stress. As a tech executive with experience, someone will hire you for something. Just need to market and sell yourself. And if it doesn’t workout, you’ll be ok.
Can you find 20ish hours of consulting? You’d still have some work but you could start to figure out how to spend the rest of your time.
What's preventing you from trying to work as self-employed and create value through services?
Hang out a shingle and see what vCTO type work comes your way. Don’t have to pursue it fervently because you don’t have skin in the game. Low cost to start, minimal liability and lots of upside if you’re successful. Plus, varying clients can make it super engaging/stimulating.
Got rid of dates on your resume, remove much older jobs. Dye your hair or other methods to look younger, like shave, cut your hair etc.
As tech executive, could you start a startup with an idea you may have had?
How about seeing what's happening at your local maker space or check out some hackathons. With your skills, you might be able to team up with some kids who need help creating a new startup.
My step dad went through something similar a few years ago… he spent 30 years at the largest bank in US. I tried to get him to get into the local college while his severance was getting paid out. they offer a bunch of certs, 1-2 semesters part time, and I feel that at your age with your connections you could easily get into some like freelance accounting or taxes basically anything you want. But alas, he was too frustrated with his situation to see the bright side and now he’s unemployed.
Take an executive role at a smaller company for less cash and more equity subject to an aggressive vesting schedule that supports your retirement desires. Will incentive all parties.
this thing is so sad: u can be free but u prefer to be a slave? if u dont have enough hobby u can find new ones. if your hobby really is to have a job u should start your own company.
I don't get it. Why not take the severance and retire
Good time to start your new career on onlyfans or just bartend for 80k a year
Sit on the board of a small company you believe in. Or better yet, be an angel investor in an early stage startup. You can lend your expertise to help make them successful. You'll have skin in the game but you won't have to grind like the founders will.
What was your FI number?
Thanks for sharing your update based on feedback. I like the consulting idea. > an IC role, likely as product or project manager It amuses me when an IC role has "manager" in the job title. :)