Exciting News: A New Door Opens! (September 05, 2014)

door

Ok, enough beating around the bush… I have some very exciting news to share with everyone, so I’m just going to lay it all out there. At the beginning of this year, I made the conscious decision to attempt early financial independence at the ripe young age of 30. I had grown extremely weary of the rat race and wanted to desperately exit out of the corporate workplace. I was exhausted and running on fumes. I wanted nothing more to do with work. My plans were to check out for good sometime next year, a year in which I would still be 30.

Well, as it so often happens with life, plans change. I just came back from a wonderful, unscripted vacation that took me through: Tokyo, Bangkok, and Rome, so it’s probably most fitting for me to announce another unscripted twist that has just recently taken place…

I will not be retiring at age 30 next year!

While in Tokyo, I received a job offer of a lifetime… I had interviewed at a premiere Silicon Valley high-tech company just prior to leaving the states, and while in Japan, the recruiter got back to me with some exciting news. Apparently, I had made a strong impression on the team, and they wanted to come at me aggressively.

And aggressive they were!

  • 30%+ increase in base salary (sure puts my 2% merit increase earlier this year to shame!).
  • $30,000 signing bonus.
  • RSUs.
  • Multiple Bonuses each year.
  • Outstanding health, and other benefits.

Basically, there was no way I was going to say “no” to this offer… But by accepting this offer, I’m pretty much closing the door on retiring within the next year (otherwise I would have to forfeit the $30,000 signing bonus, which requires 1 full year of service).

And now, let me explain to you readers my decision and logic behind all of this…

Yes, it’s true that I am sick of engineering and work. I’m also sick of working long hours and slaving away at the cubicle/lab all day long. After getting a taste of international travel, I am also yearning for early FI more than ever. I definitely want to travel and play on the beach all day long!

However, it’s worth noting that I’m still very much a fan of technology and innovation. Honestly, there really aren’t many tech companies out there that I would consider working for… But for a select few, I’ll admit, I would have a strong interest in being a part of that team. Being able to work on some cutting edge products with some of the best engineers in the world is definitely something that would get me up in the morning! Even in my current burned out state of mind…

This new company that I will be joining is like the New York Yankees of high tech. I liken my situation to that of an aging ballplayer who’s knees are shot and who’s on the downslope of his career. The love for the game isn’t really much there anymore, and the thoughts of calling it a career are constantly on the mind. But when the Yankees come calling (and they’re also willing to open up the vault for your services), are you really going to say “no”? Even if you are sick of it all, I would imagine that playing for the Yankees would be akin to uncovering the fountain of youth… at least temporarily.

In the short-term, my early FI plans change a bit. Don’t get me wrong, I’m still going to pursue early FI as aggressively as ever (even more so, actually), so nothing changes from that standpoint. But, unfortunately, this will probably mean that I will have to stay employed in the workforce for longer than I originally anticipated for earlier this year when I made that premature announcement to retire at age 30… Sorry J$!

I don’t regret the announcement… I was really set on retiring at 30… There was really no way for me to know that this opportunity would even become available… And just like I’ve always done since the beginning of this journey, I’m going to remain highly adaptable, open minded, and keep on going full steam ahead.

How long do I plan on working at the new company? 1 year? 2 years? 5 years? I honestly have no clue at this point, but 1-2 years would be my initial guess…

Ultimately, I think this news is something very positive. The big boost in salary will allow me to save even more aggressively and supercharge the portfolio gains even further. I’ll be making a lot more money, but definitely not spending more! My frugal habits won’t change at all… As a matter of fact, I’m really stoked that I’ll have even more funds to invest with! This means more real estate deals and more stock purchases! 🙂

In the end, whether I retire at 30, 31, 32, or even 35, I’m still going to come out well ahead. The plan is still to check out while the sun is still shining brightly and I still have a ton of life left to live. Playing in this cave for a little longer isn’t the ideal scenario, but it’s a short-term sacrifice that will hopefully yield huge dividends in the future.

And I’ll confess, the nerd in me is actually really looking forward to starting a new chapter at this state-of-the-art company. It’s extremely exciting! The honeymoon phase will of course come to an end (it always does when it comes to working for the man), but I’m really going to try and enjoy this ride for as long as I can.

My personal belief – “Life is all about the experiences and memories!” I start my new position at the new company at the end of September. Here’s to New Beginnings! Wish me luck! 🙂

Fight On!

 

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My Dividend Pipeline
Guest

You are experiencing something that I have been going through for a few years. Delaying FI used to hinge around not having enough money to make it for the duration of my life. Now that I am very close to FI, I unfortunately have received a couple of promotions that make me question my FI timing. When you have a $50-70k job with enough passive income to retire it is a no-brainer. Now that I am close to FI, I find my self unable to give up a $200,000+ job. There is always the thought of “just one more year”. I sometimes wish I would involuntarily lose my current job as that may be the only catalyst to jump into FI.

Best of luck in the future!

MDP

Financial Samurai
Guest

The golden handcuffs definitely get tighter and tighter. The one thing that allowed me to leave my multiple six figure job was negotiating a multiple six figure severance.

Never quit, get LAID!

Mr. Frugalwoods
Guest

Congratulations! Doing something you find fascinating for a company that is paying you very well is nothing to feel ashamed of. And who knows, if you love this job maybe after the first year you negotiate a reduced schedule and get the best of both worlds?

If nothing else, banking an extra year extends your comfort level and maybe allows you a couple more properties?

Even Steven
Guest

I think that’s awesome! I actually think it’s a great step towards FI, you could even simply stash away every dollar you get from the new gig and have a more cushy retirement in the upcoming years. I mean the goal of FI/early retirement is to do something you love without having to worry about the consequences. Good luck sir.

Mike
Guest
Mike

Congrats! There is no shame in changing your gameplan and adapting to the world around you. I think your situation is very similar to those that are currently working; if one is happy with the current role; what amount would one need to switch. Thirty percent seems like a more than fair number. In addition; they just gave you half of your next down payment.

Best of luck.

PS, do you want my resume?

writing2reality
Guest

Congratulations! I think the beauty of striving for FI is that is an individual journey and does not rely on the whims of anyone but yourself. If you find something interesting and exciting, than pursue it aggressively. As long as you are happy, the end result should work out in your favor.

Financial Samurai
Guest

Exciting! Do you remember a comment I left a while ago saying I’m betting once you turn 30, you WON’T be able to give it all up?

My thesis from my post, “The Dark Side Of Early Retirement” highlights the point that many people who want to retire are simply unhappy with their jobs. Nobody quits a job they enjoy!

$$$ and the challenges make the world go round.

Sam

Kirsten
Guest

That’s exciting news! I think it’s just a little detour in your FI journey and it might be a scenic one, so go for it. You may be glad you did in the long run.

Mike
Guest
Mike

Congrats! Sounds like an exciting opportunity and mo’ $.
Looking forward to hearing how it goes.

FIHopeful
Guest
FIHopeful

Congrats on the new job! The possible list of companies that are the “New York Yankees” of high tech is fairly short… FaceBook, Google, (maybe VMware)… so, hopefully the job is all you hope it will be.

Sindre Farstad
Guest

Congratulations on on the new job. I’m sure it will allow you more freedom when you finally decide to quit the workforce completely. And I’m sure the 30 000$ will help quite allot on your next property.

FFdividend
Guest

WOW!! congrats. I would do the same if I got a pay raise of 30%.

SavvyFinancialLatina
Guest

Wow!!! That’s awesome news! Take advantage of the extra money to increase your savings. Then you can cut the chord.

J. Money
Guest

Good for you man – congrats! I’d do the exact same thing too. Soak up all that money, learn and do something cool for a bit and then reconsider again in a year or so… It would be interesting to see how much of an effect this money earned would give you – length wise – in retirement if you could guestimate it 🙂 And better to do now than in 40 years if you run out of money! Haha…

Mary
Guest
Mary

As another bay area person, oh how I would love to see a 30% increase in pay!!
totally not going to happen, since I’ve become complacent in the last 8 years here and with three small children, i can’t find anything else with this kind of flexibility.

Leigh
Guest

Good luck! +30% on base is a HUGE raise! Congrats to you for securing that offer! Are you taking a bit of time off between jobs? That was my plan, though I’m still job searching/interviewing.

Henry @ Living At Home
Guest

Wow, that’s awesome! Congrats and good luck with your new journey! Very inspirational.

Olivia
Guest

That is amazing news congratulations!! Retirement is all about having options and freedom to pursue your life’s passions so don’t think of it as a set back at all 🙂

Dave @ The New York Budget
Guest

Dude – congrats! That is awesome!

If it were me, I would totally do the same thing and head to a position I was that excited about. Wanna know what the great news is? You can still become financially independent by age 30 and just CHOOSE to keep working.

I think that will make working for the man less onerous right there, just by the fact that your conscious and subconscious know that you are choosing to be there every day.

It also means that you are free to retire at any point. Even if you have to forfeit your bonus, that bonus means less because you already have the money you need to retire, if that makes sense.

Anyway, this is great news and I am stoked that you are doing something you enjoy! Best of luck – when do you start?

Sundeep
Guest
Sundeep

This is a great comment and is a great way to think about financial independence. Financial independence doesn’t mean you don’t work anymore, it’s more having the choice to do whatever you want. In your case that could be working at a sweet tech job because you WANT to, not because you need to.

When it rains it pours, congrats!

ILG
Guest

Congratulations FI Fighter! I know how you feel about a 2% merit increase. I got one of those little treats this year even though my rating indicated a higher increase.

I am also a tech guy =) I have wondered if I should work my way out there, but I love being in Texas too much!

Good luck and that 30k bonus will help you right along to Financial Independance!

Take care!

Integrator
Guest

That’s great news for you!. Congrats. I’m mulling a similar opportunity, though I’m still some ways away from financial independence. Well done! I do agree though. When you have something you love doing, it becomes much easier to keep pushing out early retirement.

Jason
Guest
Jason

Hey there FIF

I definitely understand your hesitation about walking away from the working world, especially if you’re heading toward something exciting.

Once thing to think about: use this time and money to pay off at least one of your properties first before leveraging more. It’s not as high of a return, but it’ll stabilize your retirement and insulate you against vacancies. I’m not sure if you’ve ever had a longer-term vacancy, but it literally throws things upside-down.

Tom
Guest
Tom

That is excellent news, just remember that because you’ve decided to work longer doesn’t mean you arent going to achieve your goal of FI. The beauty of FI is that you can do whatever you want, including work if its exciting to you.

I see nothing but positives from this.

Refinerr
Guest

This is great news! Best of luck in all your new awesome memories and experiences!

debs @ debtdebs
Guest

Wow THAT IS AWESOME. You’re going gangbusters! In the grand scheme of things that is just a small blip in your overall plan and you’d be crazy to turn your back on that. 0-2% increases $uck big time. Congratulations and high fives all ’round.

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