OMY "Glide Path" plans

[jollystomper]

With my target retirement at June 2017, I decided to implement an OMY "glide path" to RE (I am already FI ). I enjoy most aspects of my job - in fact parts of it are more like a hobby - and I get along fine with my co-workers, so my OMY is not that stressful. Of course, the best laid plans of mice and men can go astray . I seem to have escaped the MegaCorp January round of layoffs but more may be coming and I take nothing for granted.

The steps I have taken so far:

- Megacorp closed our office location in December. I could have transferred to another Megacorp office, with a 100+ mile round trip commute around the wonderful DC beltway. Or I could work from home. Guess which one I chose? Giving up a little space in the house towards a home office was definitely a better option.

- Moving into more Megacorp projects that emphasize the mentoring/educating/advising of others, instead of direct hands-on traveling/doing/fixing. Of course I do so as much as possible without impacting others. This enables me to train others and improve their skills, and choose the hands-on projects I want to participate on From a "visibility for promotion, raises, and accolades" standpoint it does not work as well as being a full time "hands-on-ready-to-travel-at-the-drop-of-a-hat" person, but at this stage those things do not matter to me.

- Planning my business trips so that DW can come along and transform it into a "business vacation". That makes business travel MUCH more bearable.

- Living on our target "extravagant" retirement budget for the year. We have done this several times over the last 5 years but only two or three months of of the year. We have given ourselves a generous budget that FIRECALC gives a 100% success rate over 40 years.

- Using some of the gap between our current budget and retirement budget, for large, hopefully one time expenses that we want to deal with before we retire (long term home renovation projects, final year of college expenses for the last kid, maybe a third car, etc).

So far the results have been very good:
- I have not impacted my Megacorp co-workers, and in fact have gotten recognition for a couple of technical mentoring projects already this year.

-While I do feel a little more isolated from my former office workers (the vast majority of which also chose to work from home), we are improving our efforts to reduce that.

- Working from home full time gives me much more flexibility, and I have actually lost weight (less snacks temptation and easier to get out to the gym or walk around the neighborhood/park at any time).

- I have been able to take DW on the only 2 business trips I have so far far this year. She enjoys it, and has no problem keeping herself busy while I work. Every evening becomes a "date night", and one of the trips was extended into a real vacation.

The plan is not perfect, but I are having fun seeing how close I can follow it. Of course, Megacorp can lay me off tomorrow and all this goes at the window, but having established FI already that would not be the worst thing in the world . Any other thoughts or ideas on what I should be doing during this "glide path" time are welcome.

 

[dunkelblau]

I'm in a similar situation, my target retirement date was back at YE 2012 and I've been OMYing since then with no defined target (just "soon"). We also have large rounds of layoffs coming up this year related to merger integration that could mean a nice parting gift. I moved to my retirement destination a few hundred miles away and decided against the home office. Instead I got a cube in a nearby satellite office at a very scenic location.

The plan was for me to do the mentoring and coaching thing as well but that didn't work out, mainly because I'm not the professor type of person. Instead I've stepped out of the lab to handle customer technical issues mostly on older products. This work turned out to be a lot more interesting than I expected and results have been remarkably good, I'm almost regretting having spent my last several years holed up in the lab just keeping up with many others when I have wide open playing field and strong demand here.

One of the reasons I can't work from home is that I'm a compulsive eater who can't leave a refrigerator alone for any length of time. Unfortunately this satellite office is closed on weekends so I'm gorging then, but at least it's only two days a week.

Anyway with respect to your question, my attitude is that "should be doing" stuff doesn't matter any more, we've earned the right to do what we want, so my only advice would be to have as much fun as you can with it.

 

[DrRoy]

I am also on my one and only OMY path to Mar 2017. My job is not changing for the year like yours, just keeping on as it has been. I like it OK most of the time, but am FI and ready to wrap it up.

 

[Al in Ohio]

I'd milk that cow til she runs dry. Even if your OMY date passes and the BS bucket still ain't half full.


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[rayinpenn]

OMY "Glide Path" plans

I am facing a similar challenge. The project I've been working on for the last 2 years is winding down. My boss and I have been asked what do you want to do next? I met with the well regarded head technology guy about two weeks ago. It appears my options will be as follows:

1) I can join a some what disfunctional small group of developers specialized in data mining. I made it clear that Id like the lead role. The work load is unbalanced one newly promoted guy is doing all the heavy lifting. They crew there has excellent knowledge of the technical infrastructure but gets bad PR because of an uneven product delivery. Some attitude adjustment is in order.
(+)/(-)
- Managing people is always difficult particularly when one is vulgar and immature
+ I know the clients for many years and we enjoy a great rapport.
+ I could cherry pick the projects I want to work on.

2) I can work for a former colleague - a great guy he's offered a role twice now. He is located in another city. I made it clear I really can't/have no desire to travel.
(+)/(-)
+ I think I can work from home a couple of days a week
+ work autonomously no B.S.
- I suspect projects will be more complex and challenging

My new knee works well but when I sit for any length of time I stiffen up. I am certain being home I'd get more consistent exercise.

The head technology guy scheduled a 'follow up' for Monday - my spy tells me I'll be happy with the options I'll be offered.

Working from home 2 days a week would put me on a great glide path for retirement.


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[jollystomper]

I am facing a similar challenge...

Your options look great. Personally I would ean towards option #2 primarily due to the people management issue in option #1. Been there, done that, fortunately recovered. Although, if your skin is thick enough and you really don't care about challenging the vulgar/immature one - after all, what can they do you at this point - option 1 would work.

As for you knee stiffening when sitting down, have you considered a standing desk? I made a "cheap but functional" one just by putting an IKEA Lack table on my desk (I got the idea from a youtube video), and that gives me flexibility to stand/sit as needed. I'm finding certain work such as programming or administering systems I do better when standing.

 

[Which Roger]

Whether or not your employer knows that you plan on leaving makes a big difference in the glide path. I knew for a long time that I'd be leaving within a year or two, but I told nobody until I gave my notice 30 days before I retired. So the j*b became a balancing act between staying somewhat engaged and keeping my commitments, but not getting involved in anything that was too visible or too stressful (i.e., the kinds of things that someone who wanted to move up on the corporate ladder would get involved in). I have a relative who is in a similar situation right now and is walking the same fine line. It certainly leads to some awkward moments in the office.

The upside of disengaging in the workplace during the last couple of years is that I naturally became more and more engaged in my life outside of w*rk, so I had no problem having things to do or people to do them with once I pulled the plug.

 

[jollystomper]

A little more than a month into 2017 and my OMY "glide path" is still proceeding smoothly. I am mentally shifting from "OMY" to "OMM" (one more month). I have gotten more used to working at home, but I find myself getting more and more distracted, which to me is a sign that RE should be at hand.

Our savings and investments have performed well enough for us that even a 25% reduction in assets would still, according to FireCalc and other various retirement calculators, allow us to comfortably live within our target spending range.

The money is still tempting...I received a work bonus in January that was about 5 times what I was expecting. It is more than enough to cover a family trip to Asia and the last remaining college expenses, which were our two big planned expenses for the year. I am likely due bonuses in March and April - I will know for sure in a couple of weeks, and that will be further temptation to work long enough (at my own pace, of course) to collect them.

At the moment all of my major projects are targeted for May completion. My likely scenario is "landing" and notifying my management at the end of April that I intend to retire by the end of June. Based on observed history 30-60 days notice is typical in Megacorp. Of course, I could get swept up in a layoff before then , but that would be fine with me, as I would get a severance "bonus".

 

[dunkelblau]

Last year an old colleague of mine took over as our director and had me meet our higher ups in CHQ to discuss my future. I let them know my rough plans (and decision process), and I found out to my surprise that my new director is on the same schedule as you. One lesson I've learned is that it's great to be working for a OMY!

I think it's natural to have trouble with leaving 'easy' money on the table for those of us who sacrificed a lot along the way to reach our FI position. In my case the big lumps are behind me, the last one is the layoff card, which now appears to be less likely than last year. On the other hand working conditions continue to be ideal, and base rate is still many times current living expenses, so maybe not this year.

What will likely decide it for me is the person who takes over end of June.

 

[jollystomper]

The glider is circling the landing strip...

A lot of things happening at Megacorp that now have me aiming my glider for a landing.

More layoffs - I was surprised not be selected but several managers in my organization, including my own, were sacked. We will be told of a reorganization in about 2 weeks, and strong rumors that when the music stops there will be fewer chairs than people.

In addition we will no longer have the full option of working at home, starting in August we will have to report to a location at least 3 days a week that is a 110 mile round trip from home. Much of the drive in the wonderful DC-MD-VA traffic. That is making the RE decision easier.

Living on our planned retirement budget is still going very well. We are under budget by a good amount.

So we will see what the end of July brings.

 

[braumeister]

a 110 mile round trip from home. Much of the drive in the wonderful DC-MD-VA traffic. That is making the RE decision [-]easier[/-] obvious.

Fixed it for you.

 

[2017ish]

Current target FIRE date: July 2017 or Megacorp layoff, whichever comes first

The two options in your signature line may well merge!

 

[Koogie]

I semi ER'd in September 2015 and set a firm ER date of May 2018 (my 45th)

It's firm, firm I tell you. No foolin'

 

[Bigdawg]

Jolly, Thanks for the update. Whenever I would read a post from you I would wonder where you were in relation to you signature line.

I took 20% less to work 15 miles from home vs the 140 mile round trip drive to the Pentagon Area every day. Best decision ever.

My OMY issues are as follows: Money is great. Job is easy. No politics. Customer/boss do not micromanage. Building new house. Selling 2 properties at a loss this year and selling one at a huge profit in 2018. Jan 2020 get's me into the year I turn 55 (401K access). So FI now but want to clear up some turbulence. Jan 2020 will be the obsolute end or the beginning of the 20 hrs/wk work from home situation that my predesessor enjoyed for 20 months. We'll see. Good luck Jolly.

 

[Blue Collar Guy]

A lot of things happening at Megacorp that now have me aiming my glider for a landing.

More layoffs - I was surprised not be selected but several managers in my organization, including my own, were sacked. We will be told of a reorganization in about 2 weeks, and strong rumors that when the music stops there will be fewer chairs than people.

In addition we will no longer have the full option of working at home, starting in August we will have to report to a location at least 3 days a week that is a 110 mile round trip from home. Much of the drive in the wonderful DC-MD-VA traffic. That is making the RE decision easier.

Living on our planned retirement budget is still going very well. We are under budget by a good amount.

So we will see what the end of July brings.

As stated before I love these kind of updates. That being said, You are in the drivers seat on this one. You are FI, thats huge. In my old job very very few left on their own terms. You were last year already kicking around the idea of packing it in, so it seems you are in for a smooth landing. Best of luck. BTW the summer is a great time to retire.

 

[Toocold]

More layoffs - I was surprised not be selected but several managers in my organization, including my own, were sacked. We will be told of a reorganization in about 2 weeks, and strong rumors that when the music stops there will be fewer chairs than people.

Out of curiosity, how do you feel when the rumors start spreading?

I'm in a similar situation where I've hit FI, and at my megacorp, I have a relatively stress-free job and make good money. From a corp structure, I'm somewhat insulated from layoffs as much as anybody is truly protected. When the inevitable rumors start, I'm a bit torn internally between wanting to be part of the rif list and the money that I'm going to miss out next year. I find this feeling fascinating.

 

[BeachOrCity]

I know a number of people at the same megacorp who took a "c'est la vie" if i get layed off approach. Even though FI, when someone else makes the decison for you "its different". Think about it. Plus the package is such crap now, i cant see how anyone with means would sign it.

 

[jollystomper]

Out of curiosity, how do you feel when the rumors start spreading?

I'm in a similar situation where I've hit FI, and at my megacorp, I have a relatively stress-free job and make good money. From a corp structure, I'm somewhat insulated from layoffs as much as anybody is truly protected. When the inevitable rumors start, I'm a bit torn internally between wanting to be part of the rif list and the money that I'm going to miss out next year. I find this feeling fascinating.

I actually feel more amused than anything else. There is some sadness, not for me, but for my co-workers who are not in my situation and are terrified by the rumors. There are several I work closely with that if they were to be layed off and I was spared, I would go to my management and tell them to lay me off instead.

It would not feel any different if the decision is made for me... since I am FI and already have a "retire early" mentality, Megacorp making the decision for me would actually be less stressful. As one of the more senior members in our organization and likely near the top of my salary for my position, I am surprised it has not already happened.

 

[rayinpenn]

OMY "Glide Path" plans

Out of curiosity, how do you feel when the rumors start spreading?

I heard a rif (reduction in force) was coming, I thought everyone knew. The first guy out the door had a cushy job was paid well but basically did nothing. A friend and I spoke to him a week before and he said he wasn't concerned. They called him into an office and told him. He promptly collapsed. His boss and the hr guy stood there in shock. Luckily a quick thinking friend called for help and provided aide to our downed man.

Every single round of layoffs I've been through (and survived) someone talked - and thank god they did. You've no doubt heard those statistics about the number of people living paycheck to paycheck. Losing that paycheck affects everyone differently.
Pass out, freak out, get angry, smash something or someone.

Someone talks, they always do... let me show you how powerful I am and what knowledge I have... for me better a rumor then being caught cold ... brush up the resume and renew the network...

 

[Fedup]

I know a number of people at the same megacorp who took a "c'est la vie" if i get layed off approach. Even though FI, when someone else makes the decison for you "its different". Think about it. Plus the package is such crap now, i cant see how anyone with means would sign it.

Do they have a choice? What happens if they don't sign it?

 

[jollystomper]

Aiming at the landing strip but waiting for it to clear out

I have started the process. Slowly. End of last week I contacted our HR department and should be receiving my detailed retirement info and options (they provide ways you can estimate it but what is in the detailed info from the request are the cold hard facts). It is kind of a "package", but since it does not not into effect unless I sign and return the forms it is not yet the point of no return.

The beginning of this week I had a feeling out discussion with my new manager - I just want to make sure I do not burn any bridges. The net of the meeting...
- Convincing him that he was not the reason I'm looking to retire.
- He will be out the next 2 weeks and wants to have a more detailed discussion when he returns.

For now this is fine. The 2 weeks before he returns will be like a paid vacation for me. I am just responding to folks whose projects I am supporting, but not initiating any new work. I've fended off several requests to start/head new projects that would commit me to more work.

DW and I will head out for one of our "find a hotel/cabin/lodge within 3 hours of home and hang out and explore the area for a few days" trips during this time.

I feel very relaxed... I have already gone out with friends twice this week to golf in the middle of the day, and may do so again in a couple of hours.

 

[jollystomper]

So I had a chat with my manager. The good news is that he did not make me turn in my badge and walk me out of building on the spot. We have agreed that I will either be part of the next "retirement migration" offering (working part time for up to a year) or package layoff (I told him if a layoff came I'd be happy to take the bullet and package to save someone else's job). Since Megacorp seems to do these things about every 4-5 months. odds are high one or the other will occur before the end of the year.

In addition, as for me having to go into the office 3 days a week, he view is "that is the theory, but I am not going to waste my time monitoring it... I wil leave it to you to manage your time, no worries".

So, we'll see what happens. I am in a VERY relaxed position now. One nice surprise, even though most of my work last quarter was on mentoring/assisting other on projects instead of leading them, I received a very nice $15K quarterly bonus. it is a temptation to keep working full time , but I like the situation and plan I have right now.

 

[RobLJ]

Good for you. Good luck on gliding!

 

[Scuba]

So I had a chat with my manager. The good news is that he did not make me turn in my badge and walk me out of building on the spot. We have agreed that I will either be part of the next "retirement migration" offering (working part time for up to a year) or package layoff (I told him if a layoff came I'd be happy to take the bullet and package to save someone else's job). Since Megacorp seems to do these things about every 4-5 months. odds are high one or the other will occur before the end of the year.

In addition, as for me having to go into the office 3 days a week, he view is "that is the theory, but I am not going to waste my time monitoring it... I wil leave it to you to manage your time, no worries".

So, we'll see what happens. I am in a VERY relaxed position now. One nice surprise, even though most of my work last quarter was on mentoring/assisting other on projects instead of leading them, I received a very nice $15K quarterly bonus. it is a temptation to keep working full time , but I like the situation and plan I have right now.

Sounds great! You win no matter exactly what happens.

 

[Aerides]

You have a very cool manager, be sure to let him know that if he stays true to the end on this.