Milton
Thinks s/he gets paid by the post
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- 2,360
That says it all! Good for you.
reducing work hours before retirement
- Thread starter ranchoparque
- Start date
WB52
Recycles dryer sheets
- Joined
- Sep 10, 2008
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- 169
Good for you! You seem to have an ideal situation for semi-retirement; a job and coworkers you like, plus the flexibility to cut hours and enjoy life outside or the workplace. This may be a good opportunity for you to develop other areas of interest, such as hobbies, community involvement or travel, that you will want to expand when you are fully-retired.
Congratulations!
Congratulations!
We got no raises this year (across the board) and anyhow we barely keep up with the cost of living. They also cut about 10% of the IT staff - but not any of the projects. So we are expected to do more work in the same amount of time. We are terribly understaffed right now.
They used to let us work 3 days a week but I don't know if that's still the case. For me - I'd retire today (totally) to get away from the stress. Working longer would be for the health insurance only. I'll be 62 in June and just hanging on... wondering what will happen after COBRA runs out.
I think for me a gradual easing into retirement is not necessary. I'm up for a full-blown watch-me-as-I-sprint-for-the-door type of exit
I haven't discussed it with my manager because I don't really know for sure if I will retire at 62. Discussing it with someone who is 34 will be entertaining, to say the least. And I'd be leaving in the middle of some big projects. Tempting (I am into vengeance today!)
I do work from home one day a week (today) and I can work from home if the driving is dangerous (like ice in the winter) or I feel sick and don't want to share it. I really have a good deal in that regard. But I'm sick of working!!!
They used to let us work 3 days a week but I don't know if that's still the case. For me - I'd retire today (totally) to get away from the stress. Working longer would be for the health insurance only. I'll be 62 in June and just hanging on... wondering what will happen after COBRA runs out.
I think for me a gradual easing into retirement is not necessary. I'm up for a full-blown watch-me-as-I-sprint-for-the-door type of exit
I haven't discussed it with my manager because I don't really know for sure if I will retire at 62. Discussing it with someone who is 34 will be entertaining, to say the least. And I'd be leaving in the middle of some big projects. Tempting (I am into vengeance today!)I do work from home one day a week (today) and I can work from home if the driving is dangerous (like ice in the winter) or I feel sick and don't want to share it. I really have a good deal in that regard. But I'm sick of working!!!
Milton
Thinks s/he gets paid by the post
- Joined
- Apr 18, 2007
- Messages
- 2,360
A 34-year-old probably thinks that a 62-year-old is ancient and should have retired years ago ... I doubt you'll be asked to reconsider.
No longer your problem!
A 34-year-old probably thinks that a 62-year-old is ancient and should have retired years ago ... I doubt you'll be asked to reconsider.
No longer your problem!
Yes - I just have to be SURE that I'm leaving before I do it. The 34 year old isn't sure I'm ready for promotion. LOL!
Milton
Thinks s/he gets paid by the post
- Joined
- Apr 18, 2007
- Messages
- 2,360
scrabbler1
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Nov 20, 2009
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- 6,699
Gradual Retirement
I reduced my hours to part-time before I fully retired last year at the age of 45.
In 2001, after my company moved from Manhattan to Jersey City, New Jersey, I was able to negotiate a part-time arrangement which included mostly telecommuting as part of my 20 hours per week. I had been working 37.5 hours per week. I lost some of my benefits but kept my health insurance and limited vacation time. I also kept my all-important and rapidly growing company stock in my retirement plan.
In 2003, my company pulled the telecommuting arrangement companywide but allowed me to retain the part-time hours. I just had to haul my butt to the office 3 days a week to fulfill my hours. I hated the commute a lot.
In 2007, worn out from the commute, I switched to a 12-hour week consisting of two 6-hour days. While I was hopeful this would help, I always knew it might not. I lost my health insurance and went on COBRA. I lost my vacation time and the right to get any additional shares of my still-growing company stock but retained those I still had and watched them grow within my retirement plan.
In 2008, I had finally had enough of the commute. My two-days-a-week workweek had become a hindrance to my other activities. Also, the value of my company stock hit the $300k mark, an amount (before taxes) I figured out was enough to be able to take with me if I were to leave the company and invest elsewhere as part of my retirement plan. I had also found an affordable health insurance plan, as my COBRA was about to expire. The taxes on the $300k company stock were rather mild, only about 25% federal+state combined, less than I had originally anticipated.
I have just begun my second year of retirement and all is going just fine. In fact, the economic downturn late last year was a terrific break for me in boosting my dividend income in retirement.
I reduced my hours to part-time before I fully retired last year at the age of 45.
In 2001, after my company moved from Manhattan to Jersey City, New Jersey, I was able to negotiate a part-time arrangement which included mostly telecommuting as part of my 20 hours per week. I had been working 37.5 hours per week. I lost some of my benefits but kept my health insurance and limited vacation time. I also kept my all-important and rapidly growing company stock in my retirement plan.
In 2003, my company pulled the telecommuting arrangement companywide but allowed me to retain the part-time hours. I just had to haul my butt to the office 3 days a week to fulfill my hours. I hated the commute a lot.
In 2007, worn out from the commute, I switched to a 12-hour week consisting of two 6-hour days. While I was hopeful this would help, I always knew it might not. I lost my health insurance and went on COBRA. I lost my vacation time and the right to get any additional shares of my still-growing company stock but retained those I still had and watched them grow within my retirement plan.
In 2008, I had finally had enough of the commute. My two-days-a-week workweek had become a hindrance to my other activities. Also, the value of my company stock hit the $300k mark, an amount (before taxes) I figured out was enough to be able to take with me if I were to leave the company and invest elsewhere as part of my retirement plan. I had also found an affordable health insurance plan, as my COBRA was about to expire. The taxes on the $300k company stock were rather mild, only about 25% federal+state combined, less than I had originally anticipated.
I have just begun my second year of retirement and all is going just fine. In fact, the economic downturn late last year was a terrific break for me in boosting my dividend income in retirement.
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