Friday, January 22, 2016

40 week plan - I'm halfway there

I can't believe I'm half way through! And, to be fair, there may be some wiggle in my exact end date, based on some stock vest. But, I can officially say that I've made it 20 weeks into my plan! It's gone both very quickly & very slowly, depending on the week. ;-)

So, how am I doing on my goals?

  1. Build a "new life" budget. Figure out exactly what we need to make, which areas we can cut, etc. There are some obvious changes (taxes will decrease, childcare will go down, I will get rid of the cleaning lady, etc) to take into account. - Done, although I'm sure tweaks remain. 
  2. Figure out how much it will cost to enroll me, plus the kids on M's insurance plan. I should be able to figure this out quickly, as we work for the same company. - Done. 
  3. Figure out an exit date that allows me to capture a final quarterly stock vest (6/25). Maybe a combination of vacation days & working an extra week after the boys are done with school. - I've mostly landed on a plan, although will be dependent upon a few details as we get closer. 
  4. Build a summer budget & plans to ensure we have enough "flex". - Done
  5. Live off of our "new life" budget as much as possible, as early as possible. Obviously, we won't be able to cut down childcare until I stop working, but we may switch to a bimonthly cleaning, etc, to try & save more & prepare ourselves. - Done. We've made the switch on the cleaning side, and I've also taken a bunch of other expenses down a bit (or, a lot) so we can save more in the meantime. 
  6. Get a grasp on how much we will owe in taxes in 2015, as taxes due will make a major dent in my current savings. - No, still waiting for M to provide me with some end of the year forms that will allow me to make some estimates. 
  7. Determine how much "flex" money I need in our savings in order for the "40 week project" to be a go. Actively track over the next 10 months. - Yes, I have a goal of $140,000. 
  8. Evaluate whether I can max out my 401K in 2016 with my bonus before I quit. . . this one will be totally dependent upon the new budget numbers.  - Yes! I maxed out my 401K yesterday, with my bonus. 
  9. Look for areas of our existing budget to cut back asap, so we can start building up a nice cushion. - we did a bit of this at the end of last year, but have really accelerated our savings in 2016. Woohoo!

And, in big news, I'm at just over $131,000 in my savings account at the half way mark! I'm very excited about this. Unfortunately, I won't be able to save up the same amount in the next 20 weeks, as much of the money was front loaded in the first half with stock options, etc. I'm only $9,000 short of my goal!!!!

On the more emotional side, the closer it gets, the more real it feels, I'm not going to lie. . . it's both exciting & terrifying. Talk to me about your big life changes! Hardest decision you've ever made, etc! 


  1. WOW! I cannot believe it's been 20 weeks already!!!

    You are doing great with your goals though. Just look at all that highlighted green type. Way to go.

    1. Thanks, and totally agree. Can't believe it's been 20 weeks. Although, there have been plenty of days where I've done a daily countdown. ;-)

  2. Taking a huge paycut last year and moving from an exec job to a mere program specialist was hard financially and to my ego. However, I don't fight back tears everyday, I feel valued not abused, and my time after hours is mine again. Priceless.

    1. Love, love, love that you made that change. Nice work!!! It sounds like it was absolutely the right choice for you.

  3. I stopped working after the birth of my son 18 years ago. Less expensive to stay home with two kids than work full time and use daycare. We had and still make way less than you do, I was ready to go back to work after two weeks. Money was tight, son is in college, money is still tight but it was the right move for us. A lot of stress and all your traveling will end, bet your boys will love having mom home. Good luck and for now it is the right thing to do for your family because your doing it. Cheryl

    1. I'm looking forward to a new chapter. I plan to still work, but something flexible, and not as demanding. With of course, no travel! And, since I'm a couple of hours away from heading to the airport, that feels like a huge win. ;-)