Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Spilling the beans
Old 01-12-2008, 08:27 PM   #1
Recycles dryer sheets
 
Join Date: Jan 2008
Posts: 109
Spilling the beans

I'm dressing for my annual review this past week and I keep telling myself, "don't talk about FIRE at the review". I'm repeating it like a mantra. I'm FIRED up right now and the goal is to leave before 50 with 30 years of service so I'm having a hard time keeping the subject out of my conversation.

So anyway, I end up at lunch with my boss and his boss. Everything's going great, we're talking business and football, yada-yada. Over dessert, I pop out with "do y'all know about SEPP withdrawals?" Blank stares.

Me: "You can access your 401k and IRA savings without penalty BEFORE 591/2"!
My boss: "Why would you want to do that"?
Me: So you can retire early.
Mb: Oh.
Me: Doh!

Oh, well. I also let him know at my review that I was working here because this is where I want to be at this time. I no longer feel like I have to stay here until 55 when I would be eligible for the pension. This has done a lot for my attitude; knowing that I'm very close to achieving the formula. It would be manageable even now.

However, I have to quit talking about it at work.
__________________

__________________
Gazingus 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 01-12-2008, 08:57 PM   #2
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,823
Quote:
Originally Posted by Gazingus View Post
I'm dressing for my annual review this past week and I keep telling myself, "don't talk about FIRE at the review". I'm repeating it like a mantra. I'm FIRED up right now and the goal is to leave before 50 with 30 years of service so I'm having a hard time keeping the subject out of my conversation.

So anyway, I end up at lunch with my boss and his boss. Everything's going great, we're talking business and football, yada-yada. Over dessert, I pop out with "do y'all know about SEPP withdrawals?" Blank stares.

Me: "You can access your 401k and IRA savings without penalty BEFORE 591/2"!
My boss: "Why would you want to do that"?
Me: So you can retire early.
Mb: Oh.
Me: Doh!

Oh, well. I also let him know at my review that I was working here because this is where I want to be at this time. I no longer feel like I have to stay here until 55 when I would be eligible for the pension. This has done a lot for my attitude; knowing that I'm very close to achieving the formula. It would be manageable even now.

However, I have to quit talking about it at work.
That was a great story.

In my case, a while back I happened to confide in a co-worker about my ER plans and timeframe. But then last month, she was promoted and became my boss! So much for keeping ER a secret from my boss.
__________________

__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 01-13-2008, 08:13 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 8,633
Quote:
Originally Posted by Gazingus View Post

Oh, well. I also let him know at my review that I was working here because this is where I want to be at this time. I no longer feel like I have to stay here until 55 when I would be eligible for the pension.
As long as you are staying there emphasizing the fact that you are staying because you like the work (for now) rather than because you have to is a sensible approach. Your boss may bend over backwards to keep you. When a couple of very good Cobol programmers were on the fence about retirement, I gave them retention bonuses. They stayed longer than I did
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is offline   Reply With Quote
Old 01-13-2008, 01:41 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 11,014
Or they can give you three year projects to do......
__________________
Meadbh is offline   Reply With Quote
Old 01-14-2008, 09:17 AM   #5
Full time employment: Posting here.
 
Join Date: Feb 2007
Posts: 595
My attitude towards work in general, is to be assertive, but not a jerk about it. One of the nice things about working for a large company, is that in general, they do not want to go through the hassle of firing you. They will have no problem with a layoff where dozens go at the same time, but because of possible lawsuits etc, they really do NOT want to fire an individual if possible.
In most large companies it is actually difficult to fire someone. Raise your hands you managers out there and tell me if this sounds familiar. You start with a verbal warning... then a second verbal warning, then a written warning...etc...etc.. Most of the time when a manager wants to fire you, he we just transfer you to another department. Preferably one that he/she knows will be cut at some point in the future. Always valuable to know the rules of the game to give the players and edge.
__________________
armor99 is offline   Reply With Quote
Old 01-14-2008, 10:32 AM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
 
Join Date: Feb 2006
Location: Washington, DC
Posts: 8,633
Quote:
Originally Posted by armor99 View Post
In most large companies it is actually difficult to fire someone. Raise your hands you managers out there and tell me if this sounds familiar. You start with a verbal warning... then a second verbal warning, then a written warning...etc...etc.. Most of the time when a manager wants to fire you, he we just transfer you to another department. Preferably one that he/she knows will be cut at some point in the future. Always valuable to know the rules of the game to give the players and edge.
I spent 20 years in Federal HR and it always amused me how many people described the difficulty firing Federal employees as an anomaly that you would not find in the private sector. I think most of the comments came from people who never supervised or managed an organization - certainly not in a mid to large sized company. The reality is that, for many reasons, good and bad, most companies follow a process that roughly parallels what we did in the public sector. I once considered working as a consultant for a company that set up and administered such processes in the private sector.
__________________
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is offline   Reply With Quote
Old 01-14-2008, 12:54 PM   #7
Thinks s/he gets paid by the post
maddythebeagle's Avatar
 
Join Date: Jun 2005
Posts: 2,450
Why are folks worried about OP being fired before being FIRED... I have actually seen a few bad employees simply moved around....but eventually fired by somebody that got tickled just a little too much....even had a few that were asked to quit, which I really dont get unless it really is causing some mental anguish....
__________________
maddythebeagle is offline   Reply With Quote
Old 01-14-2008, 07:16 PM   #8
Recycles dryer sheets
 
Join Date: Jan 2008
Posts: 109
I worried that if they became convinced that I was really leaving in 30 months, they would stop investing in me (raises and bonuses). That's probably not an issue, but I don't think I should be talking about my desire to bail in front of my reports, either.
__________________
Gazingus is offline   Reply With Quote
Old 01-14-2008, 11:27 PM   #9
Thinks s/he gets paid by the post
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 2,946
Quote:
Originally Posted by donheff View Post
I spent 20 years in Federal HR and it always amused me how many people described the difficulty firing Federal employees as an anomaly that you would not find in the private sector. I think most of the comments came from people who never supervised or managed an organization - certainly not in a mid to large sized company. The reality is that, for many reasons, good and bad, most companies follow a process that roughly parallels what we did in the public sector. I once considered working as a consultant for a company that set up and administered such processes in the private sector.
While I agree there are similarities, One BIG difference in the private sector is thier ability to coerce salaried, non-union employees to quit 'voluntarily'.
__________________
jazz4cash is offline   Reply With Quote
Old 01-15-2008, 03:23 AM   #10
Thinks s/he gets paid by the post
 
Join Date: Apr 2007
Posts: 1,304
Quote:
Originally Posted by armor99 View Post
In most large companies it is actually difficult to fire someone. Raise your hands you managers out there and tell me if this sounds familiar. You start with a verbal warning... then a second verbal warning, then a written warning...etc...etc.. Most of the time when a manager wants to fire you, he we just transfer you to another department. Preferably one that he/she knows will be cut at some point in the future. Always valuable to know the rules of the game to give the players and edge.
It used to be the way you described. In the last 5 years or so it's been a bit different. With the number of people being 'downsized', there has been little tolerence for someone not pulling their weight. But old management practices are hard to change. So yes, some of the old timers (those of who are left ) are cautiously slow when it comes to 'canning someone'.
Managers who transfer their problems are bad managers in the 1st place and become 'known'. Their 'candidates' get a bit more scrutiny when they are offered.

Quote:
Always valuable to know the rules of the game to give the players and edge.
... and yes it is
__________________
Life is GREAT!
megacorp-firee is offline   Reply With Quote
Old 01-17-2008, 08:04 AM   #11
Recycles dryer sheets
StJohnsWood's Avatar
 
Join Date: Jan 2008
Posts: 157
Actually Gazingus this make work out to your advantage. You could get a retention bonus, or maybe a package to leave early, or they could think its your little dream and nothing more.

Personally I wouldn't worry about it at all.
__________________
StJohnsWood is offline   Reply With Quote
Old 01-23-2008, 11:01 PM   #12
Thinks s/he gets paid by the post
BunsGettingFirm's Avatar
 
Join Date: Jan 2004
Posts: 1,502
stick 2 football and BS. They r not worth ur time. Soz. Cats on hands. Can't type.
__________________
BunsGettingFirm is offline   Reply With Quote
Old 01-24-2008, 12:37 PM   #13
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,616
Quote:
Originally Posted by Gazingus View Post
I worried that if they became convinced that I was really leaving in 30 months, they would stop investing in me (raises and bonuses). That's probably not an issue, but I don't think I should be talking about my desire to bail in front of my reports, either.
Maybe, but now they also know that you're not hostage to your finances. They can't depend on your lifestyle to keep you dragging your debts to your cubicle, so they actually have to take an interest in your morale. They might even have to treat you with a measure of respect & consideration.

Besides they had no idea what you were talking about with all those "SEPPs" & "withdrawals" and other icky-sounding words. Much better to stick to simple subjects like the college-football bowl championship system.

Quote:
Originally Posted by StJohnsWood View Post
Actually Gazingus this make work out to your advantage. You could get a retention bonus, or maybe a package to leave early, or they could think its your little dream and nothing more.
Personally I wouldn't worry about it at all.
I think you've hit it right in the sweet spot, planted a seed, and can stop talking about it. A few years from now you'll look like Machiavelli or a grandmaster tinkering with his chess pieces.

At least one of this board's ERs had made his boss aware of his general plans and was quietly marshaling his ER resignation. Nearly a year before he was expecting to ER, his boss just as quietly suggested that he get ready to volunteer for an imminent yet unpublicized downsizing. A few days later when the grenade was dropped he yelled "Banzai!!" and leaped on it. His sacrifice was rewarded with heaping severance benefits. Everyone got a victory out of that situation, especially his co-workers who appreciated his "taking one for the team".

So just be ready for your boss to have a quiet conversation with you during the next 30 months. Worst case is that nothing will happen.
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 01-24-2008, 03:08 PM   #14
Thinks s/he gets paid by the post
Milton's Avatar
 
Join Date: Apr 2007
Posts: 2,060
Quote:
Originally Posted by Nords View Post
At least one of this board's ERs had made his boss aware of his general plans and was quietly marshaling his ER resignation. Nearly a year before he was expecting to ER, his boss just as quietly suggested that he get ready to volunteer for an imminent yet unpublicized downsizing. A few days later when the grenade was dropped he yelled "Banzai!!" and leaped on it. His sacrifice was rewarded with heaping severance benefits. Everyone got a victory out of that situation, especially his co-workers who appreciated his "taking one for the team".
What a great outcome!
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
Milton is offline   Reply With Quote
Old 01-26-2008, 08:38 PM   #15
Thinks s/he gets paid by the post
 
Join Date: Jan 2008
Posts: 2,020
I love the story. I'm a champion at putting my foot in my mouth at work so I know the feeling all too well.

I'm probably either a jerk or naive about it, but I make FIRE goals part of my yearly performance and development goals for my job. For example, on of my short-term personal development goals for last year was to save at least 20% of my salary and one of my long-term goals was to retire by the time I was 50.

So, technically, my boss, his boss, and HR all know that I plan to RE. Then again, I'm in IT and we're not exactly known for our tenure at any given company so maybe it's a wash in the end.
__________________
Marquette is offline   Reply With Quote
Old 01-26-2008, 09:07 PM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jun 2005
Posts: 8,615
This thread makes me recall a similar thread that started last summer: http://www.early-retirement.org/foru...ces-29707.html

I have engineered a segue out of my responsibilities in the next year. It's been kinda strange in that I am not asked to go to any meetings anymore, but I can't really complain. I worked out that I will go to about 30 hours a week in a few months, then play it by ear after that. I am in the knowledge-transfer phase. It's been quite enjoyable because I forgot how much I really knew and it's all coming back to me now.

But in a subtle hint that they still want me around, we had a new group photo of all 200 employees taken a month ago that's prominently displayed in our lobby. Rather than banishing me to the back, I am standing in the front row right next to our CEO.
__________________
LOL! is offline   Reply With Quote
Old 01-28-2008, 11:40 AM   #17
Thinks s/he gets paid by the post
Milton's Avatar
 
Join Date: Apr 2007
Posts: 2,060
Quote:
Originally Posted by LOL! View Post
But in a subtle hint that they still want me around, we had a new group photo of all 200 employees taken a month ago that's prominently displayed in our lobby. Rather than banishing me to the back, I am standing in the front row right next to our CEO.
That's pretty classy of them.
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
Milton is offline   Reply With Quote
Old 01-28-2008, 04:57 PM   #18
Thinks s/he gets paid by the post
 
Join Date: Jul 2004
Posts: 1,072
Nords comment about them knowing that you don't depend on them for your lifestyle costs is spot on - I've let a few people know that I work there right now because I want to (sort of), not because I have to. I'm not ready to ER just yet (need some more savings), but if I have to leave because it's gottenout of hand, Ihave enough to tide me over for a *long* time if need be. It has helped cut down on the BS and unprofessional behavior towards me. I don't tolerate it---and the corporation right now needs me more than I need them. Great position to be in, frankly.
__________________
Deserat aka Bridget
We sleep soundly in our beds because rough men stand ready in the night to visit violence on those who would do us harm. - George Orwell/Winston Churchill
deserat is offline   Reply With Quote
Old 02-03-2008, 10:49 AM   #19
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 11,014
Quote:
Originally Posted by deserat View Post
Nords comment about them knowing that you don't depend on them for your lifestyle costs is spot on - I've let a few people know that I work there right now because I want to (sort of), not because I have to. I'm not ready to ER just yet (need some more savings), but if I have to leave because it's gottenout of hand, Ihave enough to tide me over for a *long* time if need be. It has helped cut down on the BS and unprofessional behavior towards me. I don't tolerate it---and the corporation right now needs me more than I need them. Great position to be in, frankly.
And speaking of unprofessional behavior: in my experience, the small minority of people most likely to act unprofessionally are those who have essential skills, are already financially well set, and are narcissists with large egos. That combination sometimes leads them to think it's OK to be abusive to others who have fewer options.

In healthcare, a disproportionate number of these people are surgeons.

But I'm sure that doesn't apply to any member of this forum!
__________________
Meadbh is offline   Reply With Quote
Old 02-03-2008, 11:41 AM   #20
Thinks s/he gets paid by the post
growing_older's Avatar
 
Join Date: Jun 2007
Posts: 2,608
If I had a boss who was trustworthy, I'd be interested in letting him/her know my plans well in advance so we could plan how to make it all work out. But that isn't my current situation and rarely has been in my career. I'm pretty certain that if I talk about FIRE, they will confuse it with disloyalty and I'll never see an interesting or important project again. In fact, I wouldn't be surprised if they move quickly to eliminate my position and transfer the work to others. No way am I bringing this up until I am really ready.
__________________

__________________
growing_older is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
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
Starbucks Spends More on Employee Health Care Than on Coffee Beans haha Other topics 3 11-25-2007 06:44 PM
Real Chili: Beans or No Beans REWahoo Other topics 47 12-07-2005 10:54 AM

 

 
All times are GMT -6. The time now is 03:57 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.