This is a guest post by Dave, who is also looking to retire no later than 45, but unlike Tim has no kids and doesn’t want any. Dave is from Ontario and is working towards his CGA certification.
I have worked for the same company since I graduated from University, 10 years ago. I have been working in my current position for about a year and a half now. Through practical experience as well as increasing my level of education through the Certified General Accountant’s program I have become pretty good at the work I do, and thus (hopefully) at least a moderately valuable employee. I understand that I’m still easily replaceable, especially if I decide to pick a “fight” with someone I shouldn’t either internally or externally (some days I feel like it, but have held back so far).
At some point, an opportunity may arise to be promoted within my company. Considering, due to my seniority, I get almost 5 weeks of vacation, along with an above-average salary (for my experience and education level) it would make sense to me to stay where I’m at rather than switching jobs and moving to a different company. The question comes up as to whether or not I really want to start rising up the “Corporate Ladder”.
Most personal finance sites tell you to maximize your time at work by making as much money as you can with your day. I’m unsure whether I really want the added stress of managing people, or dealing with personnel issues. The job I do right now as an auditor is fairly interesting (to me, my wife finds what I do incredibly dull). I get to travel a couple of times a month around the province, which is enough to be a nice change, but not too much to be a pain. Finally, I could probably do this job for as long as the company I work for continues to exist – it’s not overly stressful or super difficult.
I’m hoping to be done with the full-time workforce at a maximum of 12 years (exactly 4,300 days if anyone’s interested). I really don’t need extra money, I could continue making what I’m making and achieve my financial goals, which provides a bit of disincentive to taking on more responsibility. I think that the only thing that would provide me any change in enjoyment for work would be adding more of a challenge to my day – by adding in jobs or duties I’ve never really done before.
Having a fairly large savings account, along with a spouse who could support our household for a few months if that’s needed is a luxury that allows me to contemplate these kind of questions. I can look at the marginal utility I would get out of my day, rather than wondering if I’m going to be able to afford groceries at the end of the week.
If you have a goal of early retirement, do you have any interest in moving up the corporate ladder on your way to this goal?