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Old 26-03-2015, 17:23   #1
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How Much is a Month Worth

Kind of a continuation of my 55 or 56 thread about whether to work an extra year (I'm working the extra year) before stopping working to head out cruising:

I've decided to work till next year before stopping working and heading out cruising (overall CF said to do this). So in looking at this timing I started looking at my company's ESOP (Employee Stock Ownership Program) that is basically free money given to me as company stock. I'm in at the ground floor of the ESOP and there is a good chance that within the next year the company will be 100% owned by employees in the plan (major major benefits for the company profitability). This is "free" money that I get for just being an employee. And I'll already be 100% vested this year for you that understand.

Next year the years could be easily worth $10,000 for the year to me (more than what I already have) AT AGE 65 (I'll be 56 next year). BUT to get I have to be an employee till the end of the program year, which ends on Sept 30, and I really wanted to leave earlier to see the East Coast of US as I head down to get out of the cold. And by the time I can cash out of the program (9 years later) there really isn't any guarantee that the stock with be worth anything (but could worth a LOT more than the $10,000).

So the question is: would you work a few extra months, beyond the extra year you already have decided to do, in a job you really don't want to do, to maybe get $10,000 in 9 years? It could be $0 but then it also could be a lot more than $10,000 if the company continues to do well.

Goes right to the heart of the "go now" argument.
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Old 26-03-2015, 17:27   #2
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Re: How Much is a Month Worth

Go now. Be frugal. You will never regret it. It's a big wonderful, slow world out here. Enjoy your health while you have it.
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Old 26-03-2015, 17:27   #3
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Re: How Much is a Month Worth

You can't save your leave and take it at the end of your employment?
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Old 26-03-2015, 17:37   #4
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Re: How Much is a Month Worth

One month, I'd consider it.

Few months... I'd go cruise.

There will always be an excuse to work a little longer.
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Old 26-03-2015, 17:43   #5
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Re: How Much is a Month Worth

It's relative to an unknown, Sailorboy. The unknown being how much quality time do you have left. By quality time I mean how much time with health and strength to do what you want to do.

If you could gaze into your crystal ball and know that you have a guaranteed 30 years of robust good health left then a few extra months probably wouldn't mean much. But if the ball told you instead that you were going to suffer a massive stroke at age 59 from which you would never recover sufficiently to ever sail again, those few months would take on a whole different value. Problem is, you don't know so then the question becomes what kind of risk are you willing to take, and how important is the money really.

I envy you that you are in a position at your age to have the resources to be able to go. What a beautiful situation you find yourself in. I don't have an answer nor can I offer us up as an example, although we were never in a position to be able to do it at your age anyway. But just something to think about.
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Old 26-03-2015, 17:55   #6
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Re: How Much is a Month Worth

10k is chump change to your prior thread. Forget it and go


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Old 26-03-2015, 18:02   #7
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Re: How Much is a Month Worth

Quote:
Originally Posted by sailorboy1 View Post
SNIP

So the question is:

SNIP
If I had a brother would he like cheese?

Speculating on a speculation is an often discussed topic in philosophy. The consensus seems to be the amount of time spent in speculation is not worth the effort.

Maybe you should speculate on what would happen if the month before you had planned to leave brain eating zombies invaded Washington D.C. Of course we all know the answer the zombies would starve to death because no one with brains lives in Washington.
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Old 26-03-2015, 18:03   #8
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Re: How Much is a Month Worth

Do it now. My wife and I are in our late 50s and planning on working for a few more years before heading south from the great lakes. Then a few months ago I went to the doctor about a nagging cough. I got a diagnosis of stage 4 lung cancer. You never know.
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Old 26-03-2015, 18:11   #9
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Re: How Much is a Month Worth

Keep in mind that this ESOP money is an asset and gets passed to my wife/estate even if I kick the bucket and I believe this should be considered.

Btw - I would never consider $10k chump change.
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Old 26-03-2015, 18:16   #10
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Re: How Much is a Month Worth

Quote:
Originally Posted by kbudd View Post
Do it now. My wife and I are in our late 50s and planning on working for a few more years before heading south from the great lakes. Then a few months ago I went to the doctor about a nagging cough. I got a diagnosis of stage 4 lung cancer. You never know.
I'm sorry, I really am!!! Hope you beat it (don't let the doctors screw around playing some waiting game)

This is a consideration as my Mom died of cancer at 65, one of my brothers just died of cancer at 48, and I had a heart attack 2 years ago.
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Old 26-03-2015, 19:10   #11
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Re: How Much is a Month Worth

Money.

"Money isn't the only thing you get to spend in your life.
You also get to spend... your life.
And the difference between the two is,
You can always look in your bank book and see how much
money you have left."

Wish i'd said that, but i didnt. It was sailing write Herb Payson.
And he was conveying to his readers the reason why he and his
wife abandoned their working life, in their 30's i think, to go cruising.
You always know how much money you have left, but you never how
much life.

Having said that, I think maybe you should work the extra six months,
if that's all there is. You won't be happy unless you do. But I hope
we don't find you're name in the "What happened to all the Wannabees?"
thread next year...
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Old 26-03-2015, 20:41   #12
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Re: How Much is a Month Worth

It is more a mental, or emotional, riddle than a financial one. It is all up to your need for the illusion of safety. Alan Watts wrote quite an amazing piece on this phenomenon in his book The Wisdom of Insecurity. You may find it fun to make this book part of your decision making process.

Money-wise, if you can do without the mentioned amount, I would consider going now to be an option. Because amount X removed Y periods into the future adds to your plan only if you are alive then. And being still alive in the future is actually a great unknown.

So, to sum up, I would go now, if I could do without the amount in question.

b.
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Old 26-03-2015, 20:57   #13
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Re: How Much is a Month Worth

I will not discuss finances but will timing. All info says is northeast. So not knowing where you are makes a bit of difference. In general, and it depends on insurance companies, you can not be below Morehead City until end of hurricane season. So you may have time to get some sightseeing in before it gets cold and you want to run to warmer climes. Depends on how far you have to go.
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Old 26-03-2015, 21:59   #14
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Re: How Much is a Month Worth

We left in our early 40's, my wife had mobility problems that were expected to worsen, then surgery, and hopefully, relief. 10 best years ever. A bit of a disaster financially, but started over, and we're planning to go again. Surgery, improper physical therapy, and worse off than ever. 10 years of pain management, and she passed away last year. Biggest regret? We couldn't do it again, but we did it the first time. Money just ain't everything. You can always make more money, you can't make more time.
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Old 27-03-2015, 05:23   #15
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Re: How Much is a Month Worth

[QUOTE=barnakiel;1785747

So, to sum up, I would go now, if I could do without the amount in question.

/QUOTE]

Of course that's as much a crystal ball thing as counting on your future health.

I'm sure I made this question too specific to me so lets try something else:

You're in you mid-50s and decided to wait and feed the cruising kitty an extra year. You don't plan to have to go back to work after starting to cruise (unless you get bored). The time window for leaving next year is 4 months and in those 4 months you could cruise and take money out of the cruising kitty, or you could continue to grow the kitty.

How much do you feel each month is worth in order for it to be worth it to delay leaving?
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