Welp, here it is…
I think this is fairly conservative plan if I’m going to leave work in August and then seek to pick up a small amount of freelance work in January either building to a full time freelance business or going back to work full time when I start IVF to make sure I have good health insurance when having a baby (probably that.)
This model assumes my investments grow at 3% annually, that the only net new contributions are expected RSU/ESPP vesting and retirement maxing for both myself and my husband, and our monthly expense are $13k plus amount to max retirement.
Who knows what the stock market will do or my stocks that need to be better diversified will do but this seems like a somewhat realistic plan from now until Jan 2024 without work. I can certainly focus on cutting expenses but even of the $100k “lost” during this time in the model below, that’s all going to retirement savings so it’s not really lost at all.
This model seems realistic, right? As long as I can make it until July. Maybe I stay until September and do an extended vacation in August… I get some more stock and such in September so could be worth it. Depends what type of projects I’m working on. It’s generally best to leave in July I think. So that’s what I might do. Scared but excited!
Month | NW | RETIRE | STOCK | 529 | H.E. | AGE | INCOME (HIM) | INCOME (HER) | TOTAL INCOME | AFT TAX | AFT EXPENSE |
Oct 2021 | $2,334 | $752 | $986 | $284 | $312 | $8,333 | $12,376 | $20,709 | $12,426 | -$7,574 | |
Nov 2021 | $2,379 | $754 | $988 | $285 | $315 | 38 | $8,333 | $12,376 | $20,709 | $12,426 | -$7,574 |
Dec 2021 | $2,369 | $775 | $991 | $285 | $317 | $8,333 | $141,256 | $149,589 | $89,754 | $69,754 | |
Jan 2022 | $2,376 | $777 | $993 | $286 | $320 | $8,333 | $54,136 | $62,469 | $37,482 | $17,482 | |
Feb 2022 | $2,384 | $779 | $996 | $287 | $322 | $8,333 | $16,376 | $24,709 | $14,826 | -$5,174 | |
Mar 2022 | $2,445 | $800 | $1,033 | $288 | $325 | $8,333 | $45,876 | $54,209 | $32,526 | $12,526 | |
Apr 2022 | $2,453 | $802 | $1,036 | $288 | $327 | $8,333 | $12,376 | $20,709 | $12,426 | -$7,574 | |
May 2022 | $2,461 | $804 | $1,038 | $289 | $330 | $8,333 | $12,376 | $20,709 | $12,426 | -$7,574 | |
Jun 2022 | $2,473 | $810 | $1,041 | $290 | $332 | $8,333 | $31,876 | $40,209 | $24,126 | $4,126 | |
Jul 2022 | $2,481 | $812 | $1,044 | $290 | $335 | $8,333 | $12,376 | $20,709 | $12,426 | -$7,574 | |
Aug 2022 | $2,489 | $814 | $1,046 | $291 | $337 | $8,333 | $0 | $8,333 | $5,000 | -$15,000 | |
Sep 2022 | $2,497 | $817 | $1,049 | $292 | $340 | $8,333 | $0 | $8,333 | $5,000 | -$15,000 | |
Oct 2022 | $2,505 | $819 | $1,052 | $293 | $342 | $8,333 | $0 | $8,333 | $5,000 | -$15,000 | |
Nov 2022 | $2,552 | $821 | $1,054 | $293 | $345 | 39 | $8,333 | $0 | $8,333 | $5,000 | -$15,000 |
Dec 2022 | $2,521 | $823 | $1,057 | $294 | $347 | $8,333 | $0 | $8,333 | $5,000 | -$15,000 | |
Jan 2023 | $2,478 | $825 | $1,009 | $295 | $350 | $8,333 | $1,000 | $9,333 | $5,600 | -$7,400 | |
Feb 2023 | $2,486 | $827 | $1,012 | $296 | $352 | $8,333 | $1,000 | $9,333 | $5,600 | -$7,400 | |
Mar 2023 | $2,494 | $829 | $1,014 | $296 | $355 | $8,333 | $1,000 | $9,333 | $5,600 | -$7,400 | |
Apr 2023 | $2,502 | $831 | $1,017 | $297 | $357 | $8,333 | $1,000 | $9,333 | $5,600 | -$7,400 | |
May 2023 | $2,510 | $833 | $1,020 | $298 | $360 | $8,333 | $1,000 | $9,333 | $5,600 | -$7,400 | |
Jun 2023 | $2,518 | $835 | $1,022 | $299 | $362 | $8,333 | $1,000 | $9,333 | $5,600 | -$7,400 | |
Jul 2023 | $2,526 | $837 | $1,025 | $299 | $365 | $8,333 | $1,000 | $9,333 | $5,600 | -$7,400 | |
Aug 2023 | $2,534 | $839 | $1,027 | $300 | $367 | $8,333 | $1,000 | $9,333 | $5,600 | -$7,400 | |
Sep 2023 | $2,541 | $841 | $1,030 | $301 | $370 | $8,333 | $1,000 | $9,333 | $5,600 | -$7,400 | |
Oct 2023 | $2,549 | $843 | $1,032 | $302 | $372 | $8,333 | $1,000 | $9,333 | $5,600 | -$7,400 | |
Nov 2023 | $2,597 | $846 | $1,035 | $302 | $375 | 40 | $8,333 | $1,000 | $9,333 | $5,600 | -$7,400 |
Dec 2023 | $2,567 | $849 | $1,038 | $303 | $377 | $8,333 | $1,000 | $9,333 | $5,600 | -$7,400 | |
Jan 2024 | $2,575 | $851 | $1,040 | $304 | $380 | $8,333 | $1,000 | $9,333 | $5,600 | -$7,400 | |
-$110,360 |
I am struggling to follow this spreadsheet. I don’t believe you are at a net loss on a monthly basis with your current combined salaries of you + hubby. You mention that you are maxing out retirement accounts. How are you able to contribute 7k per month to retirement accounts assuming 13k per month true expenses? Roth, 401k, HSA, what else? Also why would you continue to max those out in Aug 22 when you are no longer working?
On a separate note, I definitely think you need some time off. Mostly for your mental health. If you can consistently bring in like 5-6k per month freelancing, then you may never have to work a regular job again. Just cover your expenses and CoastFIRE. The amount you already have saved will likely allow you to fully retire by 50 if you can just cover your expenses.
It worked out that way when I was averaging things out over the months I plan to not work I think, but I need to check my math.
I agree I need some time off. I’m very scared I won’t be able to find other work. Even work that pays 5-6k a month. Regular expenses are around 14k a month anyway and husband only makes $8.3k before taxes. So I need to earn more but I can afford a break I just worry I won’t be able to get a job after.