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Old 11-28-2016, 06:22 PM   #21
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You're one of many working in consolidated megacorps. One side always wins out.

It's so nice that you're in the driving seat. Now it's time to put it on cruise control and hang in there for another 60 days.

And you're right that you're due some decompression time. Hopefully you'll enjoy retirement so much you'll put further employment on hold--permanently.

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Old 11-28-2016, 08:43 PM   #22
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I missed this thread when it first came out.... will have to read it all to get into it...

But, to the last OP comment... maybe you can ask for a package.... when my mega merged (and it merged a number of times), my last good boss was demoted... he stayed and worked for a couple of years, but his level kept going down... they were going to do another reorg and he would have been way overqualified for the job... so he just asked them to give him a package... they did...

It is much easier to get a package with a big mega when they have a big reserve set aside for just this... no skin off of the manager who gives it to you as it is charged to the reorg CC....

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Old 11-28-2016, 10:58 PM   #23
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Would it be possible to give them notice now that you intend to resign effective February 1, 2017 and that you will continue to work as long as they want in order to have an orderly transition and then you will go "on vacation" for whatever time remains. You would in effect be giving them two months notice, would get your 401k match, and your vacation will spill into 2017.

I did something similar and changed my 401k withholding to 100% effective January 1st so I had minimal earnings income that year.

Where I worked if you were on payroll the 1st of the month then you were eligible for employer subsidized health insurance for that month so ending on the 1st was better than at the end of the month.
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Old 11-29-2016, 02:16 AM   #24
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Originally Posted by Earl E Retyre View Post
I always find it very interesting to read posts where the OP gives periodic updates. So thanks for keeping us updated along the way.

I am starting to believe more and more, that one of the huge reasons to retire early (once someone hits FI) is for health reasons. The cost of healthcare is rising enormously each year. And, I just learned about the enormous cost of Nursing/Long Term Care from a friend. One of the best thing people can do to invest in their financial future and to enjoy life in general as they get older, is to remain in the best shape they can. Unfortunately, when we are working we tend to not exercise nor eat as well.
Not working anymore has done wonders for my blood pressure.
Understanding both the power of compound interest and the difficulty of getting it is the heart and soul of understanding a lot of things. Charlie Munger
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Old 04-20-2017, 10:32 AM   #25
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So it's time for an update. I stayed at Super MegaCorp until mid-January so that I can get some extra perks (401K annual match, extra PTO allotted). I couldn't get myself severed for the last 3 years, but the packages were minimal anyway.

In the late Fall, I started hinting to people in my field, that I would be leaving, and perhaps retiring. I actually got a few job offers - and I ended up taking one from someone who I worked with in good times many years ago. So, I went from a 80,000 to 90,000 person company to a 50 person company in early February.

Here's the tough part. Although things are somewhat better, the hours are still long and there is still pressure to develop the business. There are a lot of evening events I must now go to. Ten years ago this may have thrilled me. However, I'm finding it difficult to go from a mental state of being months from retirement, to regrouping and continuing to work hard. Especially since I took off 3 weeks between jobs, and I was in that retirement mentality!

Honestly, one of the caveats at that point was still the issue of ACA, and whether I'll be able to get a plan with having pre-existing conditions. Still an issue.

My new game plan is more of a OMY mode. I feel committed to some extent, because the new firm bought me in and I have a previous good relationship with them. So, I'm hoping to grow their business and if I can hold out until next Spring when I'm 62, it would be time to go. I know that's not so ealry compared to many people on the board, but that's okay. But it's tough - for those of you out there, who extended their retirement date to a OMY as they got closer it must have been a challenge.

Meanwhile, the good news is that portfolio is looking better. I passed the $2M mark at the end of the first quarter, and with my house paid off several years ago, I'm at 2.450M. My AA is 67/23/10. I'm thinking I need to be a little more conservative, and perhaps go to 60/30/10 or 55/35/10.

We'll move and downsize, freeing up another $100K at that point. FireCalc also says I'm good to go - and I would entertain part-time consulting work which I'm pretty sure I can get and continue part-time teaching. My wife also works part-time in something she really enjoys.

I'll have to go on the 2017 site and move me into 2018. I'm a little out-of-shape (need to lose at least 20) and I can't wait until my exercise routine comes back more fully when I have the time. (I used to be very athletic, and ran marathons way back when, so this is an issue with me).
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Old 04-20-2017, 11:28 AM   #26
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Work on that health! After all the planning, that is of prime importance. The new position sounds interesting, but intense.

Health insurance is a biggie for a lot of people (see ongoing active threads). You gotta do what you gotta do on that; with your portfolio, and wife's ongoing R.Estate job, however, I'd keep a close eye on things for the next few months--maybe you can call it this year still, if your individual-area insurance market is decent.

On the AA, it is tough, isn't it!? We are now at 41% non-equity as we enter our last three months of work--were 100% equity all the way until 2013 or so. DW wonders if I have gone to opposite extreme...

Good luck.
OMY * 3 2ish Done 7.28.17
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Old 04-20-2017, 02:32 PM   #27
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Thanks for the update. I always love hearing how things are turning out for people and what choices they made.
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Old 04-20-2017, 08:04 PM   #28
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Thanks for the update and things are looking good!
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Old 04-20-2017, 08:16 PM   #29
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You sound like the perfect candidate for part time work or consulting. I hope you can find a way to make that happen.
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Old 04-21-2017, 09:20 AM   #30
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Welcome aboard Alvin.
"Don't take life so serious, son. It ain't nohow permanent." Pogo Possum (Walt Kelly)
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Old 04-26-2017, 08:55 PM   #31
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Originally Posted by Alvin Tostig View Post
So, I'm here for you to hit me over the head with a 2 X 4, if I work one day at mega-corp after 61. That's 17 months down the road, in May 2017. Better yet, I would really prefer to bow out right after I turn 60. (beginning of May 2016).
Based on your 1st post, do we need to get out the 2X4? Or do we need to delay that since you are now at MiniCorp?
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Old 12-01-2017, 09:34 AM   #32
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So exactly 2 years to the day that I started this thread (11/30/15), that being yesterday, I walked into the CEO's office and announced my retirement!!! This came as a complete shock to him (he's 68 years old - I'm now 61 2/3)...He accepted this and I'm going to help him with transitioning to my replacement. He moves rather fast, so I may end up still being in the class of 2017, but more likely I see this as some time in January 2018, and at the very worst early February (in fact, that would be my max for me). No one in the company knows yet - it will be announced in a week or so.

He still hinted to see if I'd be available at times if he reached out to me and I told him OK, but it has to be completely on my terms and very minimal (e.g. - in my mind no more than 3-4 days a month, if even that). I'm known for my skills in the industry by other firms so they may be reaching out to me also. But again, if I want to keep active I'm only looking to work a max of 10% -15% of the hours I used to.

There were a few circumstances in the past few months building up to this grand day yesterday. First - I was getting tired of regularly attending industry events in the evening and getting off my commuter train late at night to see my car as the only car still parked in this huge parking lot - very depressing. Second - I realized that the hours continued to significantly impact other things I like to do - in fact the weekends were spent being in recover mode just to regroup for the upcoming work week. Third - I finally hit the scale a few weeks ago and saw that my weight was at least 25 pounds more than it should be Fourth - My wife and I recently took a short vacation to visit my son who now lives on the West Coast (we are on the East coast) and I spent the time mostly in the hotel room with bronchitis and a touch of pneumonia, and I attribute this from being rundown. Fifth - our two kids live far away and have their own businesses - so we now don't see them much at all - and we'd like to change that and Sixth - I cut the chord with my gym about 9 months ago because I didn't have time - this has been the first time in my life where I'm not physically active and I used to be a marathoner and played lots of sports.

So, I'm a little nervous but excited. I'm also an adjunct professor (which I love) so I'll make a few bucks doing that every other semester. My wife sells RE - she's been doing this for more than 20 years - and she will continue for awhile.

Meanwhile, since the start of my thread, my NW now stands at $2.65M ($2.2M without the house). This is about 62% in equities - 38% in bonds/cash. So the extra bump up in the market and me drawing a salary over the last 2 years gives me some more wiggle room.

Okay, so I need all of your good morale support as I venture into the next phase in life.
Thanks to everyone on this site for their previous uplifting comments to help get me to this point.
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Old 12-01-2017, 11:15 AM   #33
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Congratulations, Alvin! Doing it on your own terms when you are ready is the most important thing. Hope there are not too many weeks between you and that last ride on the commuter train!
"One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute." William Feather
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Old 12-01-2017, 11:20 AM   #34
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Originally Posted by MBAustin View Post
Congratulations, Alvin! Doing it on your own terms when you are ready is the most important thing. Hope there are not too many weeks between you and that last ride on the commuter train!
I remember taking my last trip on the commuter train. I had my briefcase and the leftover retirement cake with me. That was 8 years ago. Life is good!
Retired Jan 2009 Have not looked back.
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Old 12-01-2017, 11:25 AM   #35
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I'm proud you have made the big decision. Shortly, you won't know how You ever had time to work this long.

It is so important to take care of yourself both mentally and physically as nobody knows how long we'll be on this earth.

And retiring earlier vs. later is always better.

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