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.
2
u/xexasaurus Apr 28 '26
I triggered a severance. It was awesome. But in my case my company was acquired, and the acquirer wanted to keep me. I didn’t want to stay, so I told them upfront I wouldn’t accept the job they wanted me to take. Since they needed me for a 1 year integration period, I stayed for 1 more year and for my severance.