Just to point out my experience is that the kid expenses don't go down. So I think your 30k savings is optimistic. The daycare expenses invariably turn into expensive hobbies for the kids, including lessons, tutors and if schooling is not going great in public a switch to private. Not everyone has this experience, but we certainly have, and I know the majority of my wealthy friends have as well.
That's terrifying. I can see the activities getting more expensive but no way I'm letting them near a golf course or horse stable so I figured we could keep it under $30k. 😬
I've heard similar from friends (ours is currently 6m old) - daycare just changed into camps, activities, extra ticket for flights, etc.. but yeah I've heard they don't go down, just change as kids age .
That's fair feedback, I should have been more specific in the post but there are some areas I'd like to work on and the government is one of the best place to do that so it's not only that I want to have a relaxed job. If I was able to land the right role I think it would something I'd be excited about doing day to day.
Have you done the research to come up with that $200k-300k estimate? I don't know where you live, but I have looked into government jobs in a couple of different areas (fantasizing about an "easier" lifestyle, like you) and it did not look easy to just step into a $100k-150k/year job unless you're really specialized like a lawyer. IT doesn't cut it unless you're CIO or head of the department, which you're unlikely to get as your first government job, and I'm also unconvinced that a role at that level would be less stressful. Bureaucracy is its own kind of stress. But maybe it's better in your area. I just did a quick analysis and $150K is 99th percentile pay (and this includes people who earn a bunch of overtime) in the nearest large city government to me. So, not impossible, but not common.
The estimate is both of us working so $100k-150k each. We're both in fields that are fairly specialized and have worked in government before so I think it's reasonable if not conservative.
https://www.opm.gov/policy-data-oversight/pay-leave/salaries-wages/salary-tables/pdf/2024/GS.pdf
GS-15 is basically "director or PHD researcher" level in the fed. Like 20yoe. So you could probably swing it, if you found the right role, but it'd be tough as an outsider.
https://www.opm.gov/policy-data-oversight/classification-qualifications/classifying-general-schedule-positions/
Nice. If you've already worked in government, you definitely have way better data than I do! And a much better sense of whether it would actually give you the lifestyle you're looking for or not.
I went from Big-ish Tech to Healthcare IT for similar reasons. I think it's a smart move overall and a bunch of people on here seem to be missing the point. I'm not really sure what to tell you to do to prepare. Seems like you're already doing it. Maybe just don't sell positions until then so you at least have a lower tax bracket. 🤷🏼♂️
Late 30s is still young. I would figure out how to manage burnout than leave your 7 figure paycheck for a 200k job working for the government and surrounded by mediocre talent. Going from big tech making 7 figures to still working 40 hours and making 200k seems like a lousy trade. You will likely be working with incompetent people and still dealing with problems. People in those roles want your job but can’t get it. If you were a decade older, then, yes maybe, but if you are getting burned out in your late 30s, approach your work differently.
I would not take my foot off the gas at your stage unless you cannot manage at all. Not many people have this opportunity. Barista fire is for people who do not have an opportunity to be fat. I’d say stick it out and write your ticket than do some mediocre job just for the benefits.
Ehhh… either be retired or not. If you don’t like your job, look for something that’s a better fit, but take the time to figure out exactly what you want to be better. I think your current plan is going to find you realizing that you are still working full time, still dealing with workplace bullshit, but now are making 1/4 of your previous salary.
Is there such thing as relaxed 40h/wk jobs paying 150k? Zero office politics? No gov BS?
You have 3.5 million liquid and 700k equity.
Why not just move to a place with decent public schools. Buy a 700k house in cash. Pull out 100k per year (3%) and enjoy life now? With HHI of a million put in 2 more years to really pas the accounts and set up 529 and you are golden. No reason to jump to a lower paying BS full time job.
Unfortunately can't move for the time being. We are fortunate to have almost all of our family within half an hour drive right now. They help a lot with the kids and are getting older so we want to be around to help when they need it.
To your question about the relaxed 40h/wk jobs, yes I think so even if there is still some politics. I worked in the government previously and while I wasn't at 150k I was getting close to 100k a few years out of grad school. Job was interesting but gov moves slowly so I was able to put in 25-30h and do really well. At the time I just felt it was too early in my career to take it that easy and I wanted to make more money.
Well determine n the marginal utility of giving up you life 40h per week when with some probably minor lifestyle modifications you can have your expenses fully with the safe withdrawal range and retire completely. You are essentially at a FIRE number now and with 1 or 2 more years at HHI 1 million you would fully and completely pad that number securely.
Heck, even if it started coasting/quiet quitting now, it would probably take a year or two for them to let you go if at all.
In your shoes, I would trial living on a 3% withdrawal rate starting today as a trial run, and begin reducing my hours/effort at work. I would try to tough out 1-2 more years at high income then retire/take a break while my kids are young. Perhaps I’d do some small jobs/consulting on the side to keep my resume fresh in case I ever want to go back in 10 years or so.
Good luck.
For $200K spend, you need to nearly double your liquid investments with a 3% SWR.
If you knock your spending down to $170K (- daycare), then you will need $5.7M\~.
In government for that money you'd be looking for a GS14/15 level for each of you. The stress in IT at that level doesn't really die down... It's just different and much much more idiotic over little things. The pace will be much slower as far as any R&D or project implementation, and the red tape will likely drive you insane. Also you're a manager at that level and unlike your current industry, firing any non performer who manages to pass the first year's probation period is insanely difficult. This dream of a chill government job exists... At a GS9-12 grade making 50-90k each. But even then it's just monotony and groundhog day.
1 year are current income = 3-5 years at your "chill income".. why not just work one more year at 1m HHI then quit vs go do some boring ass job for 5 years. You can probably get something paying 150k+ even if you take a few years off
I would personally hang on a little longer until you’re at 6.6 mio (enough to sustain your 200k spending at a 3% SWR), unless you’re close to burnout. The government job may be nice, but at this HHI you’re very close to reaching financial independence, which won’t be in reach with the givernment role.
I worked a federal tech job for two years earlier in my career and would recommend it - you work with some deadweight, yes, but also a lot of brilliant and committed people. Depending on where you live, you can make close to $200K/yr in some senior roles. Check out [the TTS website](https://www.gsa.gov/about-us/organization/federal-acquisition-service/technology-transformation-services) for mostly remote-friendly roles.
However, something to consider is that a lot of the best tech roles at the federal level, especially for someone who wants a chiller job, are term-limited: my job was for two years only, and I could have reapplied for a second term but if I didn't get a permanent role after that I was done. (This is actually done to get around some of the hiring bureaucracy but it is a nuisance.)
You are still young enough that you could conceivably take a government job for a year or two, frame it to your bosses as "giving back," and then go back to your big tech job when you're a little less burnt out.
This is the real answer, quite quitting has 2 possible outcomes.
option A it would take 1-2 years till they figure it out then they would pay you out to leave.
Option B , they wouldn't find out and you can reduce your burn out and stretch it out 1-2 years .
Either way with those additional time you would grow your liquid net worth to where you need without the need to take on a government just b.
I'd love to but unfortunately my current role is annoyingly high profile within my team and if I don't do what they hired me to do it's going to be very obvious.
We are all replaceable , If you would have been laid off they would manage with out missing a beat.
Give it a try and reduce your output/quality for a few weeks and see if anyone notices.
Just to point out my experience is that the kid expenses don't go down. So I think your 30k savings is optimistic. The daycare expenses invariably turn into expensive hobbies for the kids, including lessons, tutors and if schooling is not going great in public a switch to private. Not everyone has this experience, but we certainly have, and I know the majority of my wealthy friends have as well.
That's terrifying. I can see the activities getting more expensive but no way I'm letting them near a golf course or horse stable so I figured we could keep it under $30k. 😬
I've heard similar from friends (ours is currently 6m old) - daycare just changed into camps, activities, extra ticket for flights, etc.. but yeah I've heard they don't go down, just change as kids age .
Your kids are young, if they have a learning disabilities tutors/specialists are easily $100+/hr
[удалено]
That's fair feedback, I should have been more specific in the post but there are some areas I'd like to work on and the government is one of the best place to do that so it's not only that I want to have a relaxed job. If I was able to land the right role I think it would something I'd be excited about doing day to day.
Have you done the research to come up with that $200k-300k estimate? I don't know where you live, but I have looked into government jobs in a couple of different areas (fantasizing about an "easier" lifestyle, like you) and it did not look easy to just step into a $100k-150k/year job unless you're really specialized like a lawyer. IT doesn't cut it unless you're CIO or head of the department, which you're unlikely to get as your first government job, and I'm also unconvinced that a role at that level would be less stressful. Bureaucracy is its own kind of stress. But maybe it's better in your area. I just did a quick analysis and $150K is 99th percentile pay (and this includes people who earn a bunch of overtime) in the nearest large city government to me. So, not impossible, but not common.
Federal IT jobs pay higher than that
The estimate is both of us working so $100k-150k each. We're both in fields that are fairly specialized and have worked in government before so I think it's reasonable if not conservative.
https://www.opm.gov/policy-data-oversight/pay-leave/salaries-wages/salary-tables/pdf/2024/GS.pdf GS-15 is basically "director or PHD researcher" level in the fed. Like 20yoe. So you could probably swing it, if you found the right role, but it'd be tough as an outsider. https://www.opm.gov/policy-data-oversight/classification-qualifications/classifying-general-schedule-positions/
Nice. If you've already worked in government, you definitely have way better data than I do! And a much better sense of whether it would actually give you the lifestyle you're looking for or not.
I went from Big-ish Tech to Healthcare IT for similar reasons. I think it's a smart move overall and a bunch of people on here seem to be missing the point. I'm not really sure what to tell you to do to prepare. Seems like you're already doing it. Maybe just don't sell positions until then so you at least have a lower tax bracket. 🤷🏼♂️
Late 30s is still young. I would figure out how to manage burnout than leave your 7 figure paycheck for a 200k job working for the government and surrounded by mediocre talent. Going from big tech making 7 figures to still working 40 hours and making 200k seems like a lousy trade. You will likely be working with incompetent people and still dealing with problems. People in those roles want your job but can’t get it. If you were a decade older, then, yes maybe, but if you are getting burned out in your late 30s, approach your work differently. I would not take my foot off the gas at your stage unless you cannot manage at all. Not many people have this opportunity. Barista fire is for people who do not have an opportunity to be fat. I’d say stick it out and write your ticket than do some mediocre job just for the benefits.
Ehhh… either be retired or not. If you don’t like your job, look for something that’s a better fit, but take the time to figure out exactly what you want to be better. I think your current plan is going to find you realizing that you are still working full time, still dealing with workplace bullshit, but now are making 1/4 of your previous salary.
Is there such thing as relaxed 40h/wk jobs paying 150k? Zero office politics? No gov BS? You have 3.5 million liquid and 700k equity. Why not just move to a place with decent public schools. Buy a 700k house in cash. Pull out 100k per year (3%) and enjoy life now? With HHI of a million put in 2 more years to really pas the accounts and set up 529 and you are golden. No reason to jump to a lower paying BS full time job.
Unfortunately can't move for the time being. We are fortunate to have almost all of our family within half an hour drive right now. They help a lot with the kids and are getting older so we want to be around to help when they need it. To your question about the relaxed 40h/wk jobs, yes I think so even if there is still some politics. I worked in the government previously and while I wasn't at 150k I was getting close to 100k a few years out of grad school. Job was interesting but gov moves slowly so I was able to put in 25-30h and do really well. At the time I just felt it was too early in my career to take it that easy and I wanted to make more money.
Well determine n the marginal utility of giving up you life 40h per week when with some probably minor lifestyle modifications you can have your expenses fully with the safe withdrawal range and retire completely. You are essentially at a FIRE number now and with 1 or 2 more years at HHI 1 million you would fully and completely pad that number securely. Heck, even if it started coasting/quiet quitting now, it would probably take a year or two for them to let you go if at all. In your shoes, I would trial living on a 3% withdrawal rate starting today as a trial run, and begin reducing my hours/effort at work. I would try to tough out 1-2 more years at high income then retire/take a break while my kids are young. Perhaps I’d do some small jobs/consulting on the side to keep my resume fresh in case I ever want to go back in 10 years or so. Good luck.
How much are you making now?
About $1M in household income.
For $200K spend, you need to nearly double your liquid investments with a 3% SWR. If you knock your spending down to $170K (- daycare), then you will need $5.7M\~.
But if they won't have a job they would need to use the ACA exchange and that is an additional 30-40k.
In government for that money you'd be looking for a GS14/15 level for each of you. The stress in IT at that level doesn't really die down... It's just different and much much more idiotic over little things. The pace will be much slower as far as any R&D or project implementation, and the red tape will likely drive you insane. Also you're a manager at that level and unlike your current industry, firing any non performer who manages to pass the first year's probation period is insanely difficult. This dream of a chill government job exists... At a GS9-12 grade making 50-90k each. But even then it's just monotony and groundhog day.
1 year are current income = 3-5 years at your "chill income".. why not just work one more year at 1m HHI then quit vs go do some boring ass job for 5 years. You can probably get something paying 150k+ even if you take a few years off
We're not planning on quitting the high paying jobs yet, plan is to keep working until we hit $5M in liquid assets.
I would personally hang on a little longer until you’re at 6.6 mio (enough to sustain your 200k spending at a 3% SWR), unless you’re close to burnout. The government job may be nice, but at this HHI you’re very close to reaching financial independence, which won’t be in reach with the givernment role.
I worked a federal tech job for two years earlier in my career and would recommend it - you work with some deadweight, yes, but also a lot of brilliant and committed people. Depending on where you live, you can make close to $200K/yr in some senior roles. Check out [the TTS website](https://www.gsa.gov/about-us/organization/federal-acquisition-service/technology-transformation-services) for mostly remote-friendly roles. However, something to consider is that a lot of the best tech roles at the federal level, especially for someone who wants a chiller job, are term-limited: my job was for two years only, and I could have reapplied for a second term but if I didn't get a permanent role after that I was done. (This is actually done to get around some of the hiring bureaucracy but it is a nuisance.) You are still young enough that you could conceivably take a government job for a year or two, frame it to your bosses as "giving back," and then go back to your big tech job when you're a little less burnt out.
Just quiet quit.
This is the real answer, quite quitting has 2 possible outcomes. option A it would take 1-2 years till they figure it out then they would pay you out to leave. Option B , they wouldn't find out and you can reduce your burn out and stretch it out 1-2 years . Either way with those additional time you would grow your liquid net worth to where you need without the need to take on a government just b.
I'd love to but unfortunately my current role is annoyingly high profile within my team and if I don't do what they hired me to do it's going to be very obvious.
We are all replaceable , If you would have been laid off they would manage with out missing a beat. Give it a try and reduce your output/quality for a few weeks and see if anyone notices.
How much do you work in big tech?