I'm free

[Pointedstick]

Yesterday I had a pretty surreal experience. I got a big bonus and the best performance review of my life--glowing, all positive, no negatives at all... And then I was fired. It was quite a shock.

I tallied up the finances and realized that with only a little bit of belt-tightening, I've already achieved financial independence for my whole family. So we've decided to do that and I'm going to take an extended sabbatical while I figure out what I'm going to do next. I think it's probably time to get out of tech. Wish me luck!

[Tyler]

Woo hoo! Welcome to FIRE -- the water feels great.

Your experience reminds me of the last time I was laid off. One month we were showing off a hot new product at CES, and the next the entire group was fired in-bulk and told to pack our things by the end of the day. Tech is a fast and fickle business, and I'm largely over it.

Since embracing FI I've taken a full year off, done a lot of fun personal projects, and worked part time on my own terms for a while. I'm currently back on sabbatical and deciding want I want to do next. The best part about FIRE isn't the quitting part -- it's the options.

[Mark Leavy]

Great News! It only gets better from here. It will take some time for your brain to really digest what this new found freedom means. It's pretty amazing.

Good Luck!

[Mountaineer]

My very best wishes to you and your family, PS. Enjoy the ride. The situation you described about glowing reports then being fired is bizarre - just wow.

... Mountaineer

[goodasgold]

I know the sudden loss of a job is a shock, PS. (Ask me how I know!) But it is fantastic that you have achieved FI, especially at a young age. A lot of people in a less favorable financial position are in serious trouble after a sudden job loss.

But having achieved the goal of financial security, you can concentrate on the rest of your life. As Thoreau said, you can "voyage on life now, your vacation from humbler toil having commenced."

As for myself, I am comfortably retired, thanks to decades of saving and investing via the Bogleheads and the PP. After experiencing a successful operation for a serious illness, I have re-thought my life and am fitting out a type of RV known as a popup truck camper. I figure, why sit at home when I can experience the vast areas of this beautiful North American continent which I have never seen? In about two weeks I will hit the road, headed West, with indefinite plans as to returning to New York.

Get ready, North America: Here I come!

[Pointedstick]

Congratulations. Why on earth did they fire you?

I didn't get a straight answer so this is all speculation on my part, but I was a permanent remote employee and it had become clear in recent years that the company wanted more control over employees and a more diverse workforce. As a straight white male U.S. citizen who worked remotely outside the company's immediate orbit not subject to Bay Area real estate prices (and therefore the salary increase treadmill), I suspect it was simply a matter of time. It clearly had nothing to do with my performance or teamwork.

[Maddy]

PS, I hope this turns out to be the best thing that ever happened to you. (I suspect that it will.) As you know, I have never regretted escaping the ratrace and going off in my own direction. I do think that men have a harder time than women when it comes to actually leaving the traditional trappings of work behind. So much of their identity and sense of self-worth is tied up in all that. But with your creativity and penchant for self-examination, I have no doubt that you'll get past all that. Kudos to you for having reached FI. You can truly write your own ticket.

BTW, how does Mrs. Pointedstick feel about all this?

[Reub]

I wish you well but I wouldn't be thrilled if it were me. You've probably been let go because of your gender and race and that is appalling. Would you consider finding a lawyer to represent you? I wouldn't let them get away with this so easily in light of your glowing performance review.

[Pointedstick]

Maddy, Mrs. Pointedstick is pretty thrilled, actually. I anticipate that you're right when it comes to men and work. I know myself well enough to admit that I fit the stereotype. I had a 7-week paternity leave earlier this year and got really antsy after a while; not being productive just doesn't feel right. I suspect It won't be long before I find something to do.

Reub, I would not consider suing. No reason to burn bridges IMHO; that kind of bitter stuff just tears everyone down. Pretty much everyone I work with is awesome and I want to keep up good relationships with them. I suspect that wanting a more diverse workforce wasn't the primary reason because other straight white male U.S. citizen employees who do not work remotely have not been fired recently. I think it was more about wanting control, with a healthy dose of Dilberian upper management stupidity (I had reached the upper end of the position's salary range with SVP approval required for further raises--probably they said "don't give him a raise, just fire him instead"). But regardless, it's clearly it's not the place for me any longer and leaving is a good idea.

[frugal]

Hi PS

i am proud that you can be FI

How many years of expenses you have acumulated?

I am sure that you will do well.

Regards

[Tyler]

I had a 7-week paternity leave earlier this year and got really antsy after a while; not being productive just doesn't feel right. I suspect It won't be long before I find something to do.

In my experience, the work detox process takes about six months. The "productivity" urge is largely a withdrawal symptom, and things you do to "stay busy" early on will generally be pretty shallow in retrospect. You really have to give yourself that full six months to wash the years of corporate work ethic conditioning away. But once you power through, the things you do really care about taking on will be a lot more meaningful.

[Reub]

Health costs are supposed to rise precipitously next year so please consider this in your equations as well.

[curlew]

As I have posted before, the same thing happened to me at the end of July. I was planning on retiring next year any way and I was telling every body it was no big deal but the abruptness of it was more of a psychological jolt than I was letting on. It didn't help that it happened during the hot and rainy summer months in Florida when it's hard to get outside and do things, and with my wife still working and having limited vacation time I'm having to figure out how to enjoy the simple things in life. The number 1 problem I have to deal with is simply BOREDOM, something I've had a low tolerance for all my life.

Hope it works out well for you.

[Pointedstick]

Thankfully boredom is the least of my worries. I've taken on entirely too many projects over the years and I'm looking forward to actually finishing some of them. And I'll have the time to redo my bathroom and kitchen myself, which is nice.

[Tyler]

Yeah, you don't strike me as the type who struggles with self motivation. Side businesses, construction ideas, moving halfway across the country to optimize your life -- you're going to be just fine!

[Mr Vacuum]

If one of those projects is to travel to Indiana and build a prototype house, be in touch

Condolences and congrats. It boggles the mind they paid the bonus.

[WiseOne]

Condolences AND congratulations, PS! I remember saying this same thing to curlew: you are far better equipped to deal with the job loss than 99% of Americans. Something to be very, very proud of. I know it's been a long road for you to financial independence.

Given that you were laid off rather than fired, I would definitely push them to get some severance pay. It's best not to burn bridges but you can hint that rumors of this treatment of you might not be good for them in the long run. And I agree with Reub about the health insurance issue. Obamacare is your friend especially starting next year, but who knows how long the largesse will last.

So what do you think you'll do first - home remodeling, firing up your side business, stepping up effort on the blog? Or just staying home with the kids so that Mrs. PS do some of the above. So many choices!

[ochotona]

Pointedstick, in discussion with many, many colleagues who have been laid-off in the oil industry, and I was also in March 2015, we've all concluded that HR takes a spreadsheet with an employee compensation column, sorts the sheet by declining order of compensation, and starts cutting from the top until their cut budget target is met.

Experience and performance don't matter; everyone but the top men are expendable.

They will, accidentally, end up at a workforce which is younger and has fewer white guys in it, but I highly doubt it's by design, though they will later brag about how diverse their workforce is in an effort to hoodwink new university graduates into joining, or score higher on some kind of social responsibility index used by the Birkenstock-wearing investor crowd. This might make you think you were a victim of political correctness.

Don't let any of that deceive; it's not a race or gender war... HR is stupid, they follow orders from the top, and it's all about the cashflows THIS QUARTER.

[MachineGhost]

Don't let any of that deceive; it's not a race or gender war... HR is stupid, they follow orders from the top, and it's all about the cashflows THIS QUARTER.

Are you endorsing Slick Hilly's "We need to stop Wall Street from being so focused on short term results."? I really hate it when she agrees with me.

[Pointedstick]

WiseOne, the severance pay cause is ongoing. So far I've been doing more neglected gardening and home improvement, and I plan to post more to the blog.

Ochotana, I have largely reached the same conclusion that it's HR and upper management who are totally disconnected from the realities and are hurting their own companies with boneheaded policies. The thing is, I wasn't even particularly well-paid, so I doubt that was exactly it. As a remote employee, my compensation was adjusted to the New Mexico cost of living; my colleagues were all making at a minimum 50% more then I was (at least I hope so, because a one-bedroom apartment costs $3,500 a month in the bay area…).

I was a great employee and cheaper than my colleagues so I don't get it either.

[Kriegsspiel]

Congratulations, I'm sure you'll enjoy it.

[Tyler]

I was a great employee and cheaper than my colleagues so I don't get it either.

My money is on your initial instinct -- it's likely the remote working arrangement. Big corporations love to standardize, and I'd wager they set some blanket policy to eliminate remote workers. It could be as simple as attempting to save costs by making payroll easier, or as corporate-y as wanting everyone under the same roof for a homogeneous "culture". When you sell yourself as the perfect closed system, images must be upheld.

On the plus side, I'd interpret your glowing review and big bonus as a sign that your immediate superiors appreciate you and that the decision may be out of their control. Keep those bridges intact, and new opportunities may pop up in the future. If you haven't already moved on to something better, of course.

But all that said, the justification from their side really doesn't matter at this point. Everything happens for a reason, and I like to think you were let go right now because you are uniquely positioned to maximize the opportunity. Don't think of it as a loss -- think of it as a blessing in the form of a gentle cosmic kick to the ass to let go of the old crutch and move on to something truly new and exciting.

[buddtholomew]

I have been priveleged to escape layoffs in our company and department for over 3-years now. I too work remotely as members of the team are scattered around the globe.
Sales are down YOY, to forecast and budget.

I'm no where in a position to retire and wonder what I would do with my time should I too get layed off. I would look for work but in early 40's, techno-functional Bay Area resident (who isn't right?).

Well done PS on making the move to a lower COLA and preparing your family for ER. It's my goal too but I know we will never leave Northern California. Roots are too deep and we just replaced the cabinetry in our home.

[ochotona]

I was a great employee and cheaper than my colleagues so I don't get it either.

My money is on your initial instinct -- it's likely the remote working arrangement. Big corporations love to standardize, and I'd wager they set some blanket policy to eliminate remote workers.

At my prior company, they once did a reorg, and they had two workers they couldn't find space for in the new office building they had all just moved to, so they just fired them, rather than find two poorer performers to fire, or just let them work remotely, or time-share office space with others, or rebuild the office spaces slightly. Corporations love to standardize.

[Pointedstick]

I have been priveleged to escape layoffs in our company and department for over 3-years now. I too work remotely as members of the team are scattered around the globe.
Sales are down YOY, to forecast and budget.

I'm no where in a position to retire and wonder what I would do with my time should I too get layed off. I would look for work but in early 40's, techno-functional Bay Area resident (who isn't right?).

Budd, that was exactly the situation I was worried about. I knew that engineers in the valley are considered stale in their 30s if they don't have any management experience, and stories abound about even experienced managery types in their 40s and 50s laid off with no good job prospects. It's a relentlessly youth-focused culture.

If I recall, you have a ton of dough but a high burn rate. I would strongly recommend reducing your lifestyle expenses however you can. I totally understand how hard this can be, especially when certain costs are "baked in" and hard to change like a mortgage or private school tuition. There's usually room though, and I'd love to help you find those opportunities!

Regardless, it's likely that you're much closer to financial independence than you think. We've had to decide on a bit of belt-tightening to make the numbers add up but it's actually kind of fun. Mrs Pointedstick just picked up a huge load of baby clothes at Goodwill yesterday for $1 each, much lower than the $5 or so apiece at Walmart we had been buying. There are so many opportunities to spend less money and get more or less the same thing; pretty much all of our society runs on tiered pricing models. The real trick is to do as much of this as you can before you need to.