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View Poll Results: Did you delay retirement for OMY?
No 68 48.23%
Yes, for one year 19 13.48%
Yes, for two years 28 19.86%
Yes, but I lost count after delaying two years 22 15.60%
This is a stupid poll! 4 2.84%
Voters: 141. You may not vote on this poll

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Old 01-14-2014, 04:38 PM   #61
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2 years for me. Still working.
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Old 01-14-2014, 05:54 PM   #62
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My original retirement year was supposed to be 2007. But it was tough finding someone to buy my share of the business. And when I did, it was contingent on me working a while longer. So I'm still working 1-2 days a week. It hasn't been that bad since DW is still working.
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Old 01-14-2014, 06:19 PM   #63
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It's a standard joke among my colleagues: I've been saying "Two more years"... for about the last 15 years. Recently I've dropped that to "one more year", and since I'm 53.5 I may actually mean it this time.

I certainly hope so, but the powerful mixture of uncertainty, greed and a paycheck + ever incrementally increasing retirement benefits have sadly proven more seductive than the comforts of ER.

I had the perfect opportunity last year with a layoff threat (and the associated promise of a 6 month severance package). And I turned around and said (you guessed it) "Not now, but maybe in another 2 years". The money's good, but I should have my head examined.
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Old 01-14-2014, 06:48 PM   #64
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When my last employer got bought out and downsized by about ⅓ of the employees, I leaped at the opportunity and they let me go. I thought about it for a month or two, then decided I didn't need any more jobs so I simply let it go.

A little over 12 years later, it was still a good decision.
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Old 01-15-2014, 01:56 AM   #65
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I really wanted to go, when my employer offered a package, but I just wasn't quite where I wanted to be. Two years later they offered another package, with a tax free 60 months sweetener, and I just couldn't pass up tax free money, so I took it at 59 1/2. Still early, but not as soon as I had been planning on. As it turned out, I wish I had taken the original time out, as medical and life issues intruded, and you just can't get those back, no matter what. At least I had some time off and that was good.
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Old 01-15-2014, 05:41 AM   #66
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I was always looking for "one less year". I took an early retirement offer when the incentive boosted my pension to $25k after 15 months retired.
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Old 01-15-2014, 06:26 AM   #67
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I did the two less years route. I was planning on 57-58 retirement but unacceptable changes in the work environment triggered an intense reassessment of my ability to retire and voila! did it at 55. now 58 and am ok!
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Old 01-15-2014, 08:31 AM   #68
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Two years later they offered another package, with a tax free 60 months sweetener, and I just couldn't pass up tax free money
Tax-free? Wow.
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Old 01-15-2014, 08:37 AM   #69
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I retired in 2003, but returned to work. Retired again in 2006, but returned to work. Retired for good in 2013. I am not sure if this is OMY syndrone or some other form of insanity.
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Old 01-15-2014, 08:38 AM   #70
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I will admit to delaying retirement for a year after deciding to throw everything we could scrape together to pay off the mortgage before pulling the plug.
This is sort of the situation I'm in. I voted 'no' in the poll as I've never really got to my "number" yet. The real truth is, that number is like trying to grab a fish. The more I refine it, the larger it gets....so maybe this is omy syndrome lol! over 10 years ago, I felt a 5% draw was reasonable with caution. Later that got altered to 4%, then 3%, and now I'm looking at 2.5% with a portfolio that generates more than that in income. I seriously doubt I'll go lower than this.

I should have enough $$ to pay off the mortgage at the end of the year. I'm not paying it down, but want to have the $$ ready in case my situation changes. With a 3.125% fixed 30 year mortgage, the only reason to pay it off would be to increase cash flow, but while I'm working, that's not an issue. At that point I'll have enough to cover all necessary and a few discretionary expenses and I'll effectively be in OMY mode. I'm hoping to have a portfolio that will generate between 35k-40k/year income yield (overall yield should be between 2.5-3%). That with a paid off house will be plenty for me to call it quits.
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Old 01-15-2014, 11:39 AM   #71
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When my last employer got bought out and downsized by about ⅓ of the employees, I leaped at the opportunity and they let me go. I thought about it for a month or two, then decided I didn't need any more jobs so I simply let it go.

Lucky you. I "survived" years of downsizing, and a buy-out at my megacorp. Lay off & buy-out packages were generous but was not offered to me (no volunteers taken either).
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Old 01-15-2014, 11:41 AM   #72
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I retired in 2003, but returned to work. Retired again in 2006, but returned to work. Retired for good in 2013. I am not sure if this is OMY syndrone or some other form of insanity.
... the latter .
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Old 01-15-2014, 12:44 PM   #73
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Lucky you. I "survived" years of downsizing, and a buy-out at my megacorp. Lay off & buy-out packages were generous but was not offered to me (no volunteers taken either).
It's kind of odd that they did not accept volunteers.
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Old 01-15-2014, 03:03 PM   #74
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It's kind of odd that they did not accept volunteers.
A possible explanation is that it's legally very dangerous to target higher paid employees in a layoff. Since they are the ones most likely to volunteer, it kind of makes sense to avoid the issue.
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Old 01-15-2014, 03:08 PM   #75
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It's kind of odd that they did not accept volunteers.
At both megacorps (acquired & acquirer), layoffs are done to groups/projects/employee job functions no longer needed for the company. I managed to avoid standing in a wrong line, did enough to be needed, etc.. It is a curse.
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Old 01-15-2014, 03:56 PM   #76
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It's kind of odd that they did not accept volunteers.
I've survived (?) RIF's coming about every 6 months over the past 5 years. My company was split - (rif's before and after), sold (rif's before and after) then my division was sold last year (big rif's after that one.). They never asked for volunteers... though I let bosses know I was fine if they wanted to let me go and save someone else's job.

19 years at this place, on my 7th payroll corporate title, and never once have seen them ask for volunteers.

Rumor of another RIF coming next month or the month after... A severance would definitely kick me out of OMY.
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Old 01-16-2014, 10:33 PM   #77
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I've survived (?) RIF's coming about every 6 months over the past 5 years. My company was split - (rif's before and after), sold (rif's before and after) then my division was sold last year (big rif's after that one.). They never asked for volunteers... though I let bosses know I was fine if they wanted to let me go and save someone else's job.

19 years at this place, on my 7th payroll corporate title, and never once have seen them ask for volunteers.

Rumor of another RIF coming next month or the month after... A severance would definitely kick me out of OMY.
You are truly a survivor. The megacorp for which I used to work has been asking for volunteers every 6 months. The voluntary layoff request, however, must be approved by management. The initial severance package was very attractive and progressively became less attractive. The number of volunteers has steadily reduced as a result.
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Old 01-17-2014, 12:09 AM   #78
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It was four years for me. We were living in Tokyo on assignment by megacorp. In 2007 we decided to head home at the end of 2009, the year we became empty nesters. Problem was, I didn't have a succession plan. I talked with global CEO about it. He asked me to stick around for 4 more years in exchange for a pot o' gold at the end of the rainbow. Turns out, our plans in early 2007 didn't take into account the 2008-9 recession. I'm pretty sure we would have come out ok, but with the extra 4 years, the associated savings, bonuses, stock options, and the golden handcuffs we are much more comfortable now than we would have been in 2009.

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Old 01-20-2014, 03:06 PM   #79
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Ditto except I am doing some pent up spending now while I am in OMY.
I made the mistake of telling DW last year that after I qualify for retirement at the end of this year, we had a 95% chance of meeting goals at 4-5% withdrawal rate. I'm 55 and she is younger, so now the plan is OMY for me and for her to find a new job (at less pay) to move to the PNW nearer our DSs. I plan on semi-retiring at 35-40% of pay, so some here wouldn't call it retirement, although I would.

With the sons graduated and self-reliant and after paying off the main house (we have a mortgage on the small cabin in high altitude Colorado), we're saving at a soberingly high rate but also spending (for her) on vacations, including a 30th anniversary hike for us in the Lake District in June.

Barring recession and market collapse, it's 18-24 months more for me. In case she loses a job in the PNW, I'd like a path to scrape by on semi-retirement and 6% withdrawal rate from my retirement until I qualify for SS. Otherwise, I could retire in a few months--with increased long term risk--as soon as I qualify for retirement.

3 more years and I'd be in like Flint, but her working another 5-6 years pretty much eliminates the risk, barring catastrophe and life's slings and arrows. So OMY or TMY.
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Old 01-21-2014, 07:51 AM   #80
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I wish I could vote (not retired) but it would be NO.
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