My negotiations with my university didn't last long. They didn't budge at all and so I'm not going to budge either. I plan to resign effective June 30th. We plan to travel to Australia around September 20th. I'm going to agree to continue to advise my 2 PhD students who are already working on their dissertation research. A couple of my students seem surprised or shocked. I've been keeping my colleagues informed so they aren't surprised though they would have liked me to stay on to teach in the Fall as we are very short of teaching capacity already. It is a strange feeling that I may never be an employee again unless I choose to do so (assuming things work out). But now everything is my choice. Having that power is scary.
I'm not going to revise my net worth goal for the year. My projections show we can still meet it despite me not earning any salary from May 31st. This will partly be due to merging my finances with Snork Maiden. So far we are in agreement and things should go smoothly. I am including Snork Maiden's superannuation (retirement fund) that she will start contributing to in Australia to my projection spreadsheet as well as her salary. I am assuming that her other savings will be used up in the move - if they're not this will be a bonus. I am budgeting an additional $US6000 for my move. On a day to day basis we plan to have a joint checking account in Australia which her salary will be paid into. This will either be a new account or if possible my existing account with Commonwealth Bank if we can add her to it. I will add money to it if and when neccessary. We will both have ATM cards to withdraw money from the account (I even need to get a new one). For larger expenses we will use credit cards which I'll payoff from the joint account or other accounts. For the moment she'll keep her US bank accounts and credit cards until we have an Australian credit card for her and the joint account in operation. Then we'll probably close her US accounts. I'm not going to consolidate any of her US accounts or the Australian credit card into my net worth reports which will continue to be primarily reported in US Dollars. I'll be in charge of managing all finances. All Snork Maiden will have to do is earn and spend money using the cards.
4 comments:
Oh Moom! I'm so sorry. I am certain something good will come along. I'm glad you and Snork Maiden are going to merge finances. That sounds promsing. Good luck!
Hi Mapgirl
Thanks for your kind comments. On merging finances Snork Maiden and I seem very compatible in terms of frugality - we don't spend for the sake of spending, like to get good value, but like to spend money on enjoying life. On managing investments, taxes etc, she prefers to delegate it to someone else if possible at the moment and I'm pretty ideal as someone to delegate to :)
On negotiations, this is a case where I tried to make a win-win offer. They want me to teach for one more semester and I want to leave now, so I made an offer that basically if they paid me 50% extra for the next semester I'd do it. But I framed it as paying me a half-pay sabbatical semester which I could have already taken (after 3 years service). So my demand doesn't look outrageous but I thought they would reject it. Another institution might have accepted. So if they reject my offer I look a reasonable guy doing my best to get to an accommodation and if they actually accepted I would be $18k + 8% retirement contribution - tax better off financially as well as the regular salary for the semester.
I wish you the best of luck.
Congratulations on the move. It's indeed awesome to have the power to dictate your own career. I would have made the same move in your shoes.
Best of luck!
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