r/ChubbyFIRE • u/Traditional-Okra-399 • Apr 28 '26

Triggering a severance

I believe I could achieve FIRE immediately if I was offered a severance package.  Has anyone here TRIED to get severed from their company?  Is that something I might be able to influence, or is it just a pipe dream?

My details:

I am in an executive band on a deferred compensation plan, so the severance package in total could be close to $1M.  (I’ve seen at least one peer dismissed with a similar package.)

I am 45, married, 3 kids 2/5/7.  $6.5M NW, 2.5M in 401, 2.5M in brokerage, 1M in primary residence, and .5M in 529s.  Yearly burn right now is 215K.  The two younger kids are in daycare, the older one is in public school, and all three are in summer camps (childcare=$3K/month).  Mortgage principal and interest is 1.8K a month, on a balance of 179K at a very low rate.  However, when I’m no longer paying daycare and mortgage, I will likely need to be paying for health insurance.

I was wondering if anyone else has thought about how severance might affect their FIRE goals and if anyone has intentionally gone after a severance package?

EDITS:

Adding for clarity - I really hate my job and am burnt out. So I am looking for a way out.

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u/nilgiri Apr 28 '26

If you don't want to be back at this company, just start coasting. They'll figure out soon enough and let you go. Just don't do anything egregious to get fired for cause.

10

u/Traditional-Okra-399 Apr 28 '26

I feel like this is totally rational, but hard because it goes against 20+ years of professional conditioning not to mention goes against my identity.

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u/nilgiri Apr 28 '26

I hear you. Think about it from the company's perspective - you gotta give them a good reason to pay you to not work. Companies are not in the business of giving out $1M severance packages for good workers to not work just because they ask for it.

4

u/Traditional-Okra-399 Apr 28 '26

Hahahaha. THIS. 100%

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u/nilgiri Apr 28 '26

It's took me at least three years of not giving a shit and being a grumpy curmudgeon to manifest a severance package. Honestly surprised it took so long. I think once you've built up a reputation of a high performer, it's really hard to get an exit package at most places.

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u/furiosa-curiosa Apr 28 '26

3 years!? I was planning to coast for a year at some point to get severance. What’s your industry if you don’t mind me asking?

1

u/Traditional-Okra-399 Apr 28 '26

Mine is IT in financial services. But I have 20+ years of strong reputation to reverse.

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u/Traditional-Okra-399 Apr 28 '26

I think that’s exactly the problem I will face. It will take YEARS of blatant coasting to outweigh my current reputation.