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Old 08-30-2013, 10:42 AM   #41
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Real bummer, sorry to hear it. (Been there, done that a few months ago.)

Glad to hear you're in a position to weather it indefinitely. This is the nice reassurance that comes with a combination of LBYM and aggressively funding retirement -- knowing that even if it was a little sooner than you expected, you're not hit with something that becomes a financial emergency.

And as for the future, it's wide open. Never say never, and it sounds like your situation doesn't require you taking something that isn't *right* for you out of desperation. In that sense, our situations are quite similar. I'm working three hours a week (Saturday morning) at a nearby post office and while I'm not actively looking for anything more, I will keep my eyes and ears open. I do know I never plan to work full-time ever again, and I never want to be in the corporate world ever again.

My personal suggestion would be to take a couple months off -- completely off -- as a "pre-retirement sabbatical", see how the finances are holding up, and just go with the flow of where life and opportunities take you. You may find (as I am) that doing without a few "things" is a small price to pay to not have to drag your butt to w*rk every morning. If you ever find yourself feeling deprived of something because your lower income can't support it, ask yourself: Would you rather have it and go back to w*rk or do without?
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Old 08-30-2013, 11:08 AM   #42
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Being out has some benefits. Time to think, play, practice retirement. Given your financials it is not a bad situation.

Lots of options, in a few months I'm sure you'll have it figured out. Can't rush these things.

FWIW I had several multi year breaks between j*bs. They were great for mental health purposes, and I was financailly in dismal positions each time, ex: one meal a day for months. Yet they were really good times.
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Old 08-30-2013, 11:13 AM   #43
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Sucks at the abruptness of it, but, perhaps the rug getting yanked out from under you is a blessing in disguise if you ever found yourself suffering from the one more year syndrome. As you eluded to, your finances seem to be in order, which would lend me to feeling fairly comfortable.

Selfish of me, but, I'd be interested in hearing how your next employer treats you with regards to salary in this economy. If your last job was well paying, do they cut your wage to see how you perform and then give you a bump after a year or what. Or do they pay what the market bears right away. Pay you very little because they have 100 applicants, or what? One paltry data point.

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Old 08-30-2013, 11:32 AM   #44
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It must have been such a shock to be let go so abruptly. I went through a reduction in force when I worked for DOD, but we knew about it in plenty of time and DOD had another job that I went to the next day.

It is so nice to hear that you are so financially prepared for this and I am sure that it is a great help to have you at home for the time being. It sounds like you won't be unemployed for long. Enjoy it while it lasts!
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Old 08-30-2013, 02:50 PM   #45
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Selfish of me, but, I'd be interested in hearing how your next employer treats you with regards to salary in this economy. If your last job was well paying, do they cut your wage to see how you perform and then give you a bump after a year or what. Or do they pay what the market bears right away. Pay you very little because they have 100 applicants, or what? One paltry data point.
I have been talking to multiple firms that are looking to expand and the numbers being thrown around would be a 15-25+% raise from where I was. That was when I was fully employed. I'll be curious to see if they negotiate harder since I don't currently have a job. The places I'm looking are all saying "we are slammed right now and need people bad". Things seem to be pretty hot in this little sector right now.

Where I was at before was grossly underpaid government work where, among other things, I oversaw a ton of consultants that all made more or way more than me. The government employer had provided a 1% raise in total over the last 5 years all the while increasing health insurance premiums 7-8% per year for family coverage (= net decrease in nominal wages after insurance premiums each year). I had grumbled 1-2x to my new manager that "I can't stay here forever at these wages, and you have the authority to adjust my compensation". Maybe he didn't like that I wasn't a team player!
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Old 08-31-2013, 12:34 AM   #46
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I have been thinking about this for a couple days. Uhoh, the old snake guy is thinking again! I know you were already planning for really early retirement. Maybe this layoff is actually the best thing that could have happened to you. Now you have the chance to see what it would be like to stay at home for your kids. I know lots of people including a younger me would have trouble with the seemingly reversed work/parental roles and your wife might resent going to work while you stay home. You could discuss it with her and let her know that at any time she could cast the one vote that counts and send you back to the work world. She may find that you being at home could make her life and work easier and also would of course be good for the kids. You have LOTS of options. Spend some time picking the best one.
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Old 08-31-2013, 06:10 AM   #47
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DW even asked me once if I would mind being a "kept man", to which I responded "HELL NO. Let's get a pool, and I'll be a damn pool boy!" Of course, I have no experience in that world, so we'll see how it actually works out (at least I hope to!).
That's about where I am with it too. When DW was finishing up her BA a few years ago I told her that if she got a job I'd have no problem staying home and when she got home from work greeting her at the door with a kiss, a glass of wine, a "How was your day, dear?" and dinner on the table. So far it hasn't worked out that way.

In all seriousness you sound like you're in good shape and have the luxury of time to be picky about where, when, or even if you get another job.

If something falls in my lap I'd consider it but admittedly I'm not out pounding the bricks every day.

I've talked with a few guys from where I used to work and I sure was right to leave. Things are the pits there, chaos reigns, and everyone is working 50+ hour weeks. It is understatement to say that people there are not happy campers.

Ah, the benefits of LBYM!
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Old 09-02-2013, 07:46 PM   #48
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I have been talking to multiple firms that are looking to expand and the numbers being thrown around would be a 15-25+% raise from where I was. That was when I was fully employed. I'll be curious to see if they negotiate harder since I don't currently have a job. The places I'm looking are all saying "we are slammed right now and need people bad". Things seem to be pretty hot in this little sector right now.

Where I was at before was grossly underpaid government work where, among other things, I oversaw a ton of consultants that all made more or way more than me. The government employer had provided a 1% raise in total over the last 5 years all the while increasing health insurance premiums 7-8% per year for family coverage (= net decrease in nominal wages after insurance premiums each year). I had grumbled 1-2x to my new manager that "I can't stay here forever at these wages, and you have the authority to adjust my compensation". Maybe he didn't like that I wasn't a team player!
Ahh. Interesting on the wages.

Maybe you couldn't get a raise since he didn't want you making more than him. "Wage compression" was a problem for awhile at my org. Couldn't give the little guy much of a raise because the big whigs weren't making much more. Or at least that's the excuse they gave us. Luckily they went through and readjusted from the top, not bottom up.

-CC
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Old 09-03-2013, 08:34 PM   #49
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Ahh. Interesting on the wages.

Maybe you couldn't get a raise since he didn't want you making more than him. "Wage compression" was a problem for awhile at my org. Couldn't give the little guy much of a raise because the big whigs weren't making much more. Or at least that's the excuse they gave us. Luckily they went through and readjusted from the top, not bottom up.

-CC
Fortunately for my former boss, he was making double what I was making. All my peers were making $12-17k more than me for similar positions. All I was asking for was to be brought up the $12-17k.

At my old consulting firm (similar to where you were at I believe) we had the same wage compression that limited the lower level staff from getting raises.
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Old 09-04-2013, 06:16 AM   #50
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One word of warning. Not working can become habit forming.
Just what I was going to post.

The longer you're out the harder it might be to want to get back to the grind. That's how I feel anyway being out 7 months now.
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