No more W2! Today is a big day here at TCH. After about 3.5 years on our personal finance journey, we have reached the milestone of me resigning from my employer.
How did we get here?
In reality, the formula of income – expenses = money to invest is more complicated than that. There are always the temptations, the restaurants, and the unexpected that will erode the money left for investing, but as we’ve gone through our journey, we’ve seen that a “slight edge,” continuous improvement approach focused on the numbers, open discussions about our expenses, and a focus on our goal (i.e. a location independent lifestyle) kept us on track.
So, how did the resignation go?
Not as intended. The initial idea was heading to the office this morning to break the news but due to my bosses upcoming vacation and a last minute W2 work trip across the state, I had to break the news over the phone while standing at a rest stop on the PA turnpike. Truely an unexpect but fun twist to the end of this chapter and the start of a new.
Here was the original plan. With a 12-minute drive to the office, I selected three songs for the “leaving my W2 playlist” (a must have for anyone leaving their W2).
The first would be “Society” by Eddie Vedder.
This song reminds me of when we became debt free (including house, so we’re also mortgage free), which seems to be uncommon in society, and how we challenged the assumption that being an adult required being in debt, have a mortgage, and remain handcuffed to a W-2 until our 60s.
The next song will be “Sleep on the Floor” from the Lumineers.
Claudia and I relate to this song since the next step in our journey will be travel. We’ve talked about this day for seven years and finally decided it was time to leave.
More of this, please!
At various times in our journey, we’ve had moments that we thought about delaying for another year or until we have X amount of dollars in the bank, or perhaps until we hit financial independence/early retirement, but at some point, we had to say let’s just go do this — that time is now.
The last song is humorous one that reminds me of the various bosses I’ve had over the years. Some of my bosses have been great and others have not, but in the end, all of them helped me realize that a “9-5 till 65” approach to life is not what I want.
*warning, explicit lyrics*
What about the resignation letter?
Below is my actual resignation letter. If you are not aware of John Muir, he was also known as the “Father of the National Parks” and he spent most of his life focused on preserving the wilderness and in later years was a key person in the development of the National Parks system.
In the next couple of weeks leading up to my last day on August 14, Claudia will go into more details on what the future will bring, including more about this fully-funded lifestyle change we’re making this year, the second business we started last year, our revised plan for financial independence/early retirement, our travel plans, and much more. Until then, have an awesome day!