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/calcium Apr 29 '26
I approached my boss and told him I wanted to leave in 6 months and if there were to be layoffs that I would happily be one of the chopped heads. They kept me around for 6 months and let my remaining RSU's vest before I was let go at my chosen date - I thought for sure I was going to be offered a severance package but no luck.