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Eli Inkrot
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Eli Inkrot is a writer. Check out his website: thecurrencyoftime.com, his articles here on Seeking Alpha or his book - "You Don't Have A Money Problem" - on Amazon.com. Additionally, here is a quick bio: Eli has held the title of Vice President and Portfolio Manager at EDMP Inc. - a... More
My blog:
The Currency Of Time
My book:
"You Don't Have a Money Problem"
  • If I Can't Figure It Out In A Decade…  4 comments
    Aug 7, 2014 4:02 PM | about stocks: CMG

    "I appreciate the opportunity, but I want to try my hand at a variety of endeavors."

    If you're joining us from the "Why I Negotiated For A Pay Cut" essay, the above was my response to my aforementioned employer. (If you haven't read that piece, I'd recommend quickly backtracking to get caught up.) In other words, I fired my boss.

    A lot of people in the financial independence community talk about...

    Read More

    Themes: Retirement Stocks: CMG
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Comments (4)
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  • wizjinx
    , contributor
    Comments (395) | Send Message
     
    Good stuff Eli.
    7 Aug, 08:42 PM Reply Like
  • Eli Inkrot
    , contributor
    Comments (503) | Send Message
     
    Author’s reply » Thanks wizjinx, I really appreciate it!
    7 Aug, 08:52 PM Reply Like
  • wizjinx
    , contributor
    Comments (395) | Send Message
     
    I am in the last 2-7 years of my professional career, and I REALLY don't want to go 7. I'm a state employee and there's a DROP (Deferred Retirement Option) program where for each year of a max of five years the state matches the average of your five highest paid years and puts it away and then gives the lump sum to you as you go. The retiring employee gets a nice little nest egg while the state loses a high priced employee that they can replace with a younger, cheaper alternative. I'm eligible for DROP in two years, and what you're talking about is really my dilemma currently. I already have a couple hundred thousand in the stock market and another 100k or so in a 403b and about 20k in a Roth I started awhile back. I'm relatively low maintenance, but I'm also really young for a state employee retiree - I started at age 21 so I'll only be 52 if I leave after 30 years. I'll probably want to work after retiring, but doing something I really love with no pressure involved, like being a starter at a golf course or maybe be a bartender, things I could see myself just having fun doing. So...should I just get the f out in two years (I'm not a big fan of my current job anymore), or do I stick it out to get that lump sum??? It's a bloody mystery, but thanks for helping me with the thought process. :)
    8 Aug, 07:06 AM Reply Like
  • Eli Inkrot
    , contributor
    Comments (503) | Send Message
     
    Author’s reply » Hi wiz, thanks for the follow-up comment. Incidentally, my first "real" job was for a public pension plan whereby I chose to sacrifice vesting funds to move on to what I perceived to be a better opportunity. Obviously your dilemma is much greater than mine was, but they share the commonality of trading time for money.

     

    The DROP sounds like a great benefit, so I can see where the decision isn't exactly straight forward.

     

    Ultimately I would think about the bigger sacrifice and you're the only one who can determine that. Remember: "sometimes you're ahead, sometimes you're behind, the race is long and in the end it's only with yourself."

     

    Also, I think the bar-tending or especially golf course starter as an eventual / additional thing to do makes a lot of sense. I believe the dynamics of "retirement" are changing such that it no longer means parking yourself on a beach or the couch and instead just indicates that you do what you want each day - whether paid or not.

     

    Thanks for sharing your insight!
    8 Aug, 10:07 AM Reply Like
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