Can you afford to quit your job and be part of the Great Resignation?

[AtTheMurph]

After my wife passed away I got her whole life policy payout plus a second smaller policy I didn't know about. I took the money from the second one and applied it to my mortgage by "recasting" my loan to reduce my payment since I am now a single earner.

It was a good option for me since I have a relatively low interest rate at 3.875% and wanted to keep it and no re-financing or re-application needed.

I invested all of the whole life proceeds and contributed to my IRA/401 shortfalls. This makes my early retirement possible although due to health insurance I will need to live frugally until I'm 65 in ~5 yrs and SS kicks in (won't do early SS no reason to take the hit).

I was only able to buy my Corvette because I got a great price selling my '05 GTO.

Do you have non-qualified assets you can draw from rather than IRA/401k?

If so you might be able to reduce your AGI to a point where you qualify for health care subsidies. I have a wealthy friend who retired mid-50s. Is drawing principal for living expenses from non-qualified accounts, manages his taxable income so that he and wife pay something like $10/mo each and have better health insurance than I do.

 

[indyblue]

Do you have non-qualified assets you can draw from rather than IRA/401k?

If so you might be able to reduce your AGI to a point where you qualify for health care subsidies. I have a wealthy friend who retired mid-50s. Is drawing principal for living expenses from non-qualified accounts, manages his taxable income so that he and wife pay something like $10/mo each and have better health insurance than I do.

I have quite a bit (to me anyhow) in cash investment accounts.

I'm not very financially educated so don't know all the possibilities. Gonna have a conversation with my investment advisor tomorrow for the best way to proceed with minimum taxes. I have ROTH, and 401 IRAs.

My only debt is the mortgage. I should probably sell my current house while it is still worth a premium (location, location, location), but it is my home and I don't look forward to trying to move right now. Looking at maybe buying some rural property in the south-central area around Spencer if I do move. I'd like to have my own land where I can shoot. I don't require a large house, but I need plenty of garage space for my cars and mc.

My GF is a Certified Nurse Midwife and she's looking into reducing her hours at Riley. I'd move in with her but she's very allergic to animals (grew up on a pig farm lol) and I have a 20 lb cat I don't want to part with since my wife brought him home.

I'm working the insurance angle now, it's rather confusing.

 

[BehindBlueI's]

with inflation higher than the rat eon mortgages, why would anyone ever do this?

Risk aversion or valuing free cash flow over maxing gains would be my guess, but ask the people doing it.

 

[Tombs]

I have quite a bit (to me anyhow) in cash investment accounts.

I'm not very financially educated so don't know all the possibilities. Gonna have a conversation with my investment advisor tomorrow for the best way to proceed with minimum taxes. I have ROTH, and 401 IRAs.

My only debt is the mortgage. I should probably sell my current house while it is still worth a premium (location, location, location), but it is my home and I don't look forward to trying to move right now. Looking at maybe buying some rural property in the south-central area around Spencer if I do move. I'd like to have my own land where I can shoot. I don't require a large house, but I need plenty of garage space for my cars and mc.

My GF is a Certified Nurse Midwife and she's looking into reducing her hours at Riley. I'd move in with her but she's very allergic to animals (grew up on a pig farm lol) and I have a 20 lb cat I don't want to part with since my wife brought him home.

I'm working the insurance angle now, it's rather confusing.

Considering the inflation is GLOBAL, I don't think those cash investments are going to be too big of a liability in the short term. Gold isn't skyrocketing. Property values are hyper-over-inflated.

It's a bit of a precarious situation to make investment moves. I'd be careful what you listen to and keep your eyes on currency exchange rates.

If the dollar starts dropping hard relative to another currency, then I'd be looking to turn that money into property or metal in a hurry.

 

[bwframe]

So Many Jobs, So Few Workers...

STATE WIDE–You may have heard of the great resignation. Many people are quitting their jobs, sometimes good-paying, career-type jobs. It might also be called the great reassessment. Even though Indiana’s unemployment rate is at 2.7 percent, the lowest in recent times, nearly two million Hoosiers...

www.wibc.com

 

[AtTheMurph]

Considering the inflation is GLOBAL, I don't think those cash investments are going to be too big of a liability in the short term. Gold isn't skyrocketing. Property values are hyper-over-inflated.

It's a bit of a precarious situation to make investment moves. I'd be careful what you listen to and keep your eyes on currency exchange rates.

If the dollar starts dropping hard relative to another currency, then I'd be looking to turn that money into property or metal in a hurry.

A lot to unpack in this.

What does global inflation have to do with it? And cash in any inflation is a bad deal because inflation means your cash loses purchasing power every second of every day.

Gold isn't skyrocketing and property apparently has in your opinion. Do you believe that inflation acts smoothly across assets or that inflation creates bubbles in some things but not others?

It seems you are advocating doing nothing and allowing that cash position to whither away by inflation because of.....? if all currencies are losing value v. real things (and you said inflation is GLOBAL) why would holding any currency be in anyone's best interests? It's no-sensical to me.

 

[bwframe]

The risks and benefits of rehiring Great Resignation ‘boomerang employees’

Increasingly, employees who joined the Great Resignation want to return to their old jobs. Here’s how to make the second go-round a success.

www.fastcompany.com

 

[actaeon277]

The risks and benefits of rehiring Great Resignation ‘boomerang employees’

Increasingly, employees who joined the Great Resignation want to return to their old jobs. Here’s how to make the second go-round a success.

www.fastcompany.com

blah blah blah