Join Early Retirement Today
Reply
 
Thread Tools Display Modes
How much notice do you give when you retire?
Old 12-11-2017, 04:40 PM   #1
Full time employment: Posting here.
 
Join Date: Sep 2017
Posts: 816
How much notice do you give when you retire?

I'm almost 62 yo and will retire in 2019. I've been reading about folks who give up to 1 years notice of impending retirement.
I'm on good terms with my company (MegaCorp) and have gotten along well with everyone.

I've given the company my best for over 3 decades but, I recognize that the company would sell its grandmother if it could make a dollar so, am conflicted over the decision.

So ... should I give 2 weeks minimum or a longer heads up??
__________________
“Earth is the insane asylum of the universe.”
― Albert Einstein
albireo13 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-11-2017, 04:47 PM   #2
Thinks s/he gets paid by the post
 
Join Date: Dec 2009
Location: Alberta/Ontario/ Arizona
Posts: 3,393
Depends on a few things. Any chance they will ask you to go and give you some money? Are you difficult to replace? Do you want to go on good terms? Do they have any hints? Two weeks sounds pretty short though? Maybe two months?
Danmar is offline   Reply With Quote
Old 12-11-2017, 04:52 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Nov 2016
Location: Richards
Posts: 1,245
Give them 2 months , if they run you off early without a package go file for unemployment
Breedlove is offline   Reply With Quote
Old 12-11-2017, 04:58 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Sunset's Avatar
 
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 16,973
How replaceable are you ?
If you are one of 10 folks doing the same type of work, then give them 2 weeks notice, and be sure to time it after your bonus has deposited into your bank account or 401K.

My company only paid in the 401K for the previous year match if you were with the company after the year ended, so people who were smart quit in Jan/Feb and never earlier.
Sunset is online now   Reply With Quote
Old 12-11-2017, 05:04 PM   #5
Moderator
Aerides's Avatar
 
Join Date: Nov 2015
Posts: 13,846
This topic comes up quite often, I'll see if I can dig up a good thread.

My answer is "Give notice no sooner than you are ready to be asked to leave that day."

No matter how good your standing, etc. If you want to give them 3 months or something, that's up to you, but be prepared for the worst case.

Here's one:
http://www.early-retirement.org/foru...ice-80294.html
Aerides is offline   Reply With Quote
Old 12-11-2017, 05:08 PM   #6
Full time employment: Posting here.
 
Join Date: Sep 2017
Posts: 816
They are thin on my area of expertise. However, I think their latest leaning is to outsource work, with disregard to the quality of the work.

A spreadsheet somewhere shows that work is getting done. LOL
__________________
“Earth is the insane asylum of the universe.”
― Albert Einstein
albireo13 is offline   Reply With Quote
Old 12-11-2017, 05:09 PM   #7
Moderator Emeritus
 
Join Date: May 2007
Posts: 12,890
DW was pretty high up the corporate food chain and well liked but gave only 2 weeks notice. We saw how badly her employer treated employees once they had tendered their resignation and we did not see any point in protracting the agony.

A well-run company should have a succession plan in place for all key personnel anyway.
FIREd is offline   Reply With Quote
Old 12-11-2017, 05:13 PM   #8
Thinks s/he gets paid by the post
 
Join Date: Jan 2013
Posts: 3,405
I would look at other people at your level and specifically your job to see what they did when they retired and how the company treated them. If you are a high level key person, you probably have a professional obligation to give more notice than if you are one of twenty similarly titled folks in the accounting department.

At 62, they know you are a short timer. They probably figure one to three years. Is there a successor that is being groomed to step into your shoes?
Another Reader is offline   Reply With Quote
Old 12-11-2017, 05:24 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Nov 2009
Posts: 6,679
I gave a month. But at the time, I was working only 2 days a week (12 hours per week). I estimated it would be enough time to get my one big remaining project done. I estimated right, barely, as I got it done at 4 PM on my last day, 45 minutes before I left for good.
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
scrabbler1 is offline   Reply With Quote
Old 12-11-2017, 05:28 PM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
 
Join Date: Jan 2008
Location: NC
Posts: 21,148
As others have said, there’s no universal answer. For some two weeks is enough, for others it could be months.

Out of respect I gave my boss 3 months notice and asked him to keep it to himself for a few months, and expected he’d respect my wishes after 34 years service. He put out a letter announcing my retirement a few days later, which made my last 3 months much more awkward than necessary, so he made me regret extending the courtesy of advance warning. I can’t tell anyone what to do, but if in doubt I’d err on the side of (much) less. Hindsight is a wonderful thing!
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
Midpack is offline   Reply With Quote
Old 12-11-2017, 05:31 PM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Car-Guy's Avatar
 
Join Date: Aug 2013
Location: Texas
Posts: 10,836
I gave about 3 months. One of my better decisions. They immediately started off loading my "responsibilities" and made the transition to my replacement easy as it could have been. By the the time the final few weeks came around I almost felt guilty for taking a paycheck. "Almost"
Car-Guy is offline   Reply With Quote
Old 12-11-2017, 05:40 PM   #12
Recycles dryer sheets
 
Join Date: Nov 2015
Location: Hometown
Posts: 121
I think this varies depending on company size and position. A C-Level or partner owes longer notice - and is often compensated for giving that longer notice. A employee in a very small company on good terms with the owners may feel a sense of obligation to give longer notice. Other than C-level's in a mega-corp most people would do well to consider how much notice the company would give them. As suggested in an earlier post "Give notice no sooner than you are ready to be asked to leave that day." I worked for a mega-corp - I gave one week notice as I was feeling no "love" at the end of my career. I couldn't see any benefit to delaying retirement any longer than that week. It would have taken a WHOLE lot more than my normal compensation for them to get me to stay longer - they never pursued that conversation and I was more than happy to leave as I planned.
FireFool is offline   Reply With Quote
Old 12-11-2017, 05:45 PM   #13
Thinks s/he gets paid by the post
 
Join Date: Nov 2015
Posts: 2,690
Quote:
Originally Posted by FIREd View Post
DW was pretty high up the corporate food chain and well liked but gave only 2 weeks notice. We saw how badly her employer treated employees once they had tendered their resignation and we did not see any point in protracting the agony.

A well-run company should have a succession plan in place for all key personnel anyway.
After 35 years I gave 2 weeks as well. While my manager hadn't noticed (and a bit telling why I needed to get the heck out of there), I had created an easy glide path for my exit by cross training my staff and others with my responsibilities. Also had groomed my replacement from my staff.
bobandsherry is offline   Reply With Quote
Old 12-11-2017, 05:59 PM   #14
Thinks s/he gets paid by the post
 
Join Date: Oct 2006
Posts: 4,629
I gave six months.

It was great. It changed my relationship with the Company. I didn't spend time on the next cycle's planning. I didn't do my "employee development" stuff for HR.

My boss knew that he wanted me around to finish a big project, he made that clear to his boss. I worked on something I enjoyed and shucked as much of the irritating stuff as I could.
Independent is offline   Reply With Quote
Old 12-11-2017, 06:06 PM   #15
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 17,194
Well, I was let go, so I got two weeks


I did work for a temp firm for awhile, but since I refused a few jobs that were not convenient for me they just stopped calling...

Heck, maybe I am not retired....
Texas Proud is offline   Reply With Quote
Old 12-11-2017, 06:27 PM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Sep 2005
Location: Northern IL
Posts: 26,806
If two weeks is all you are contractually obligated to do, why would you offer any more?

If it was important to them for you to be obligated to give more notice, they would have asked to renegotiate your contract. They didn't, so it can't be that important to them.

As already said, don't give notice until you are ready to be let go that day. And if they want more than two weeks from you, tell them you have made plans (non of their business) - let them make an offer you can't refuse.

You are in control of anything past two weeks, not them.

-ERD50
ERD50 is offline   Reply With Quote
Old 12-11-2017, 06:35 PM   #17
Full time employment: Posting here.
 
Join Date: Jan 2014
Location: Austin
Posts: 661
I was C-level and gave two months notice. Turned out to be the longest 60 days of my life.
__________________
ER'd 6/1/2014 @ age 53. Wow, is it already 2022?
Looking4Ward is offline   Reply With Quote
Old 12-11-2017, 07:19 PM   #18
Thinks s/he gets paid by the post
swakyaby's Avatar
 
Join Date: Feb 2011
Location: central California
Posts: 1,134
I gave 6 months notice. I'm in a mid-size medical group and it takes nearly 6 months or longer to recruit a replacement. I based this on a request by the CEO for 6 months notice. I'm less than 4 days from my last day and the notice I gave seems about right.
swakyaby is offline   Reply With Quote
Old 12-11-2017, 07:31 PM   #19
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
street's Avatar
 
Join Date: Nov 2016
Posts: 9,373
I gave one year notice because that is what they ask of me if at all possible. So that is what I did and all really worked out well. The last 3 months was more just stand back and watch. The one year also worked very well to prepare me for retirement so to speak. It really wasn't that I was hard to replace it was to help coast out for the change in life.

I would go talk to your boss and ask what would be best for them.
street is offline   Reply With Quote
Old 12-11-2017, 07:33 PM   #20
Full time employment: Posting here.
 
Join Date: Mar 2008
Posts: 799
I gave a month notice. I wanted to give two weeks notice, but they were giving me my inept boss's duties and I didn’t want the extra workload for my last month. Unfortunately, the month's notice left me in good standing for re-employment but fortunately they likely wanted 3-6 months to further bail out my boss, so they never asked.

I suggest the OP see how they’ve treated others who’ve given short/long notice and plan accordingly.
akck is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Tomorrow I give notice to retire! BBQ-Nut Life after FIRE 107 01-18-2015 04:27 PM
How much notice did you (should I) give? ER Eddie Life after FIRE 83 05-28-2013 10:35 AM
I've decided to give my notice next week. robcanuck Hi, I am... 22 05-28-2009 11:49 PM
How much advance notice to give? NotReady4Purple Hi, I am... 31 02-26-2008 06:53 PM
How much notice did you give to ER? cj Hi, I am... 24 07-26-2005 03:07 PM

» Quick Links

 
All times are GMT -6. The time now is 11:26 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.