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Omg omy?
Old 12-04-2014, 11:27 AM   #1
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Omg omy?

DW asked me last night what would make me not retire. I had to think about that just a few minutes. Massive amounts of money might but a "big" raise wouldn't. No sane person would pay me what it would take to have me stay.

The company has offices all over the world and sometimes people get sent off for six month or longer assignments. Most are in places best described as "armpits" or worse. However, there are offices in the UK and Norway that would definitely get my interest. The benefits of a "working vacation" would get me thinking.

I'm going into my final glide mode. I'm planning to put 100% of my 2015 salary into the 401k. I won't max out my contributions until I get into February. Saving taxable income is particuarly valuable in 2015. Does anyone have any other last minute suggestions for a short timer?

My resignation date is 5 Jan 2015 with a resonable transition to be worked out.
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Old 12-04-2014, 12:19 PM   #2
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This is HUGE!!! I congratulated you on another thread, but good idea to start a new thread about it. And definitely - - congratulations!

Last minute suggestions for a short-timer? I'd say to start bringing personal stuff home from the office immediately so that you don't forget anything. Go over any pension or health care benefit details and make sure you have those lined up.

Also, if you have 20,000+ saved e-mails in Outlook at work like I did, better start going through them and deleting or transmitting to others as necessary. Same with digital or paper files, if any - - shred/delete anything that will not be needed. All this is kind of hard to deal with on the last few days because other things come up, so it helps to have everything in order.
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Old 12-04-2014, 12:40 PM   #3
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I know what you mean. I've had head hunters calling me all year. I told them it would take 2 MM$ a year salary to get me to take a new job. They just laughed !

Get all those floating/flex days used up if you have them.

Get one last shot at any company paid memberships like SPE if you need them.

Get one last calendar for free.

Leave the pencils at the office, however !
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Old 12-04-2014, 12:49 PM   #4
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Get one last shot at any company paid memberships like SPE if you need them.
I was told my bonus yesterday. I get it December 12. It's small but it's mine!

The vacation time is all accrued and I'll get paid whatever I haven't used. It will be over 7 weeks. Up until this year I was a PTO miser. I had planned to retire in October to have my actual last day after Dec 31 but the company quietly changed its policy so if you resign/retire there is to PTO usage after that.

The only thing I'm walking away from is the company would pay for my PE renewal. I can't see why I would want that anyway. I'll file for inactive status so if I change my mind I can reactivate it.
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Old 12-04-2014, 12:54 PM   #5
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This is HUGE!!! I congratulated you on another thread, but good idea to start a new thread about it. And definitely - - congratulations!

Last minute suggestions for a short-timer? I'd say to start bringing personal stuff home from the office immediately so that you don't forget anything. Go over any pension or health care benefit details and make sure you have those lined up.

Also, if you have 20,000+ saved e-mails in Outlook at work like I did, better start going through them and deleting or transmitting to others as necessary. Same with digital or paper files, if any - - shred/delete anything that will not be needed. All this is kind of hard to deal with on the last few days because other things come up, so it helps to have everything in order.
Thanks again.

I've got a box that will hold the personal stuff I want to keep. I can pack it in 1 minute since it's all in 2 desk drawers. There will be another box of books but I'm wondering why I'd want these after retirement. Maybe I should just recycle them here. I'm going to just do a big email delete along with any personal files on my computer.
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Old 12-04-2014, 01:35 PM   #6
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I agree with WTR on the pre-staging the purge of leaving a long term job - prune/delete/organize and hand off emails. Go through your desk and figure out what you want to take home (personal stuff) what you want to hand off, what can be shredded/tossed.

pb4uski gave me a tip I didn't quite execute correctly - if you don't have a HELOC consider getting one while you're still working. I have no intention of using my HELOC - but it gives me a tool for income smoothing if I big expense one year - and don't want to tap tax deferred funds all in that year year because of tax consequences... I didn't sign up for my HELOC ahead of time - I was still able to get it (based on DH's SS, our rental income, etc.) - but it would have been easier if I had earned income when I applied.

Let the countdown begin. You've been in OMY for a while, so it's great to see you making the transition to the FUN side.
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Old 12-04-2014, 07:30 PM   #7
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Congrats, 2B.
Looks like I'll move to semi-retarded July1ish, 2015.
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Old 12-04-2014, 09:17 PM   #8
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Congrats!!!
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Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
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Old 12-04-2014, 11:50 PM   #9
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Congratulations!!!

Sent from my SM-T320 using Early Retirement Forum mobile app
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Old 12-05-2014, 07:23 AM   #10
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Congrats 2B. !!!

Age?
Nest egg?
Post fire 30-60-90 day plans ?
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Old 12-05-2014, 07:41 AM   #11
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I read the subject and the OP name and nearly fell over - I thought you were going to do another OMY !!! I'm glad to see you haven't changed your mind.

I've already started writing my "last day" letter to people I've worked with. I've been revising the distribution list as I remember folks that made an impact during my career. I'd add something like that to your "to do" list.

Hopefully you're not offered a one year position in Norway or the UK in the next month !!! But if you are - go for it if that is what would make you happy.

Congrats
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Old 12-05-2014, 08:10 AM   #12
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So it looks like you are relinquishing your OMY run. Congrats and enjoy!
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Old 12-05-2014, 09:03 AM   #13
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Originally Posted by 2B View Post
DW asked me last night what would make me not retire. I had to think about that just a few minutes. Massive amounts of money might but a "big" raise wouldn't. No sane person would pay me what it would take to have me stay.

The company has offices all over the world and sometimes people get sent off for six month or longer assignments. Most are in places best described as "armpits" or worse. However, there are offices in the UK and Norway that would definitely get my interest. The benefits of a "working vacation" would get me thinking.

I'm going into my final glide mode. I'm planning to put 100% of my 2015 salary into the 401k. I won't max out my contributions until I get into February. Saving taxable income is particuarly valuable in 2015. Does anyone have any other last minute suggestions for a short timer?

My resignation date is 5 Jan 2015 with a resonable transition to be worked out.
A few things:

1) Estimated taxable income - since you have a low salary, there are some other items that you might qualify for, depending on your total interest/dividend/cap gains income from other sources. There are things like the saver's credit, where if your gross income for a Head of Household is under a certain amount, you get a CREDIT of a % of your 401k/IRA contributions. Wouldn't hurt to see, in case you can play around w/ income from other sources in 2015 to possibly qualify.

2) HSA? - Do you have a high deductible insurance plan? You can sock away and reduce your taxable income over $6,000 for a couple with a qualifying insurance plan.

3) OMY - Like you mentioned, if there were a way to get an assignment in an area that you would enjoy traveling from as a base, then I would certainly entertain it, since you would be over in that area anyway and getting paid for it! Just depends on guaranteeing certain time off (either weekends or a known schedule, not subject to having to work last-minute overtime, potentially messing with your traveling/adventure schedule). However, that would only apply if I were in the younger years of my life. If I were older, almost nothing would make me stay (unless something crazy like 10x my annual budget
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Old 12-05-2014, 10:42 AM   #14
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I'm going to just do a big email delete along with any personal files on my computer.
Be aware that deleting files isn't enough to prevent them from being recovered.

If you haven't stored anything really personal or sensitive (including browser history, personal website logins, passwords, etc) it might not be a big deal.

But so many people use their work computer/laptop for personal items, it's tough to avoid having any personal info on a work computer.

What I've done at my last two companies, and what I plan on doing at my current one when I quit, is to save off any work-related files and folders on a USB stick, and then wipe the hard drive (or SSD) with a low-level Secure Erase utility. Secure Erase uses the built-it erase function of the drive to erase it. Then, I turn over the USB stick to my manager and let them know everything I worked on is on there.

We just had a Support person leave our organization last week, and he went the added step of removing the hard drive from his laptop, but I think that's going a little too far. I trust Secure Erase enough to use it, but I wouldn't take the drive.

In casual conversation with one of our IT guys where I'm at right now, I mentioned I've done this in the past, and he said it doesn't matter to them, as they just reimage our PCs anyway when somebody leaves. So somebody doing a Secure Erase beforehand doesn't put them out any, and it protects me.

Anyway, thought I'd mention this, and congrats on your leaving!
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Old 12-05-2014, 10:50 AM   #15
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Congratulations! I second W2R's suggestion on cleaning out emails. I ended up spending my last day at work cleaning out my email files. I would have rather spent it with my workgroup at the local pub
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Old 12-05-2014, 10:56 AM   #16
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Be aware that deleting files isn't enough to prevent them from being recovered.

If you haven't stored anything really personal or sensitive (including browser history, personal website logins, passwords, etc) it might not be a big deal.

But so many people use their work computer/laptop for personal items, it's tough to avoid having any personal info on a work computer.

What I've done at my last two companies, and what I plan on doing at my current one when I quit, is to save off any work-related files and folders on a USB stick, and then wipe the hard drive (or SSD) with a low-level Secure Erase utility. Secure Erase uses the built-it erase function of the drive to erase it. Then, I turn over the USB stick to my manager and let them know everything I worked on is on there.

We just had a Support person leave our organization last week, and he went the added step of removing the hard drive from his laptop, but I think that's going a little too far. I trust Secure Erase enough to use it, but I wouldn't take the drive.

In casual conversation with one of our IT guys where I'm at right now, I mentioned I've done this in the past, and he said it doesn't matter to them, as they just reimage our PCs anyway when somebody leaves. So somebody doing a Secure Erase beforehand doesn't put them out any, and it protects me.

Anyway, thought I'd mention this, and congrats on your leaving!
In our Megacorp, ordinary users like me, have no Admin privilege on our issued laptops. Since I work from home, I only use my own laptop for personal activities. A contractor somehow was able to install a sniffer. He got caught right away and was escorted out the building. Our big brother is watching our every move.
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Old 12-05-2014, 11:02 AM   #17
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Congrats

I'm in a glide path as well but unlike you I'm not just about to land . I have made a spreadsheet with a timeline to keep track of some of the things you mention. Not sure if I have them all and some of the things are unique to me. I don't have any sensitive information stored on my HD but I do need to make sure that I get addresses and #'s of friends etc as well as changing any contacts that I need to my personal email from my work one (where I don't already)

It will be interesting when I give notice, there really isn't going to be anything that can change my mind although they will probably try. FIRE is something I've been working for for the last 20 years...it has always been my career goal

Congrats again...see you on the other side
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Old 12-05-2014, 05:38 PM   #18
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Congrats 2B. !!!

Age?
Nest egg?
Post fire 30-60-90 day plans ?
I'm 63 and can't declare my self an "early retiree."

Net worth is in the single millions. I have several small pensions.

My plan is to detox in the first 30 days. From then on I have some activities planned but am primarily going to be working on getting DW going on various US and international trips. I'm not sure how the day to day activities will work out.

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So it looks like you are relinquishing your OMY run. Congrats and enjoy!
I'm not sure but I think I'm the OMY champion. I haven't seen anyone in the almost decade status yet. Of course, I could be wrong.

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Be aware that deleting files isn't enough to prevent them from being recovered.
There isn't any personal information on my work computer. What little I do from work is always entirely on a thumb drive. I do download personal things when I need to do it. I'm not worried about Paris' Metro map falling into their hands.

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A few things:

1) Estimated taxable income - since you have a low salary,

2) HSA? - Do you have a high deductible insurance plan? Y

3) OMY - Like you mentioned, if there were a way to get an assignment in an area that you would enjoy traveling from as a base, then I would certainly entertain it,
Low income? I will gross over $180K this year. I avoid extra overtime as best I can or I'd be over 200K.

That may be low to you but I don't consider myself low income. DW and I have a basic cost of living of ~50K before income taxes and health insurance. When SS and medicare kick in that will be covered when I add in my small pensions.

I have a high deductible health plan. I plan on seeing how I can max out this account without being deducted from a paycheck. It's something to ask at the exit interview. Thanks for bringing this up. I'll put it on my list.

Even at 63 I'd jump at a Norway assignment.
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Old 12-05-2014, 06:01 PM   #19
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I'm not sure but I think I'm the OMY champion. I haven't seen anyone in the almost decade status yet. Of course, I could be wrong.

You may be, I retired at 54, but went back to work for OMY, until finally retiring at 63 like you. I must have been deranged, as I really didn't need the money.
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Old 12-05-2014, 06:16 PM   #20
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Congratulations 2B!
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