Reaction of your boss when told your ER ing in you 50's

[Al in Ohio]

Next year I'll be announcing my notice of RE at 55 which will be totally unexpected by my bosses and all of management. I will hold steadfast thru all persausion otherwise ( I'll take offers of contract eork for double salary up to 300 hrs yearly - after a three month traveling hiatus).

So what to expect and how will they react from those who have been down this same road?


Sent from my iPhone using Early Retirement Forum

 

[harley]

Most likely result, assuming you are well regarded, is they'll say "wow! Are you sure? Anything we can do to change your mind? OK. Don't let the door hit you in the ass on the way out."

 

[Options]

A lot, if not all, of it has to do with your intention and your attitude. If you have bad relationships with your boss and/or coworkers and/or internal/external clients--whether rightfully or wrongfully so--do you really want to end your working life on a contentious note? Wouldn't it be best to leave all the bad stuff behind versus getting involved in it one way or the other ("I showed them") on your way out the door? All depends on how much you have invested in being right versus being happy.

If you have a good relationship, why not leave on a high note? IMO, at the end of our lives, no matter how much or little $ we've acquired, all that's really going to matter is the quality of relationships we had.

 

[steelyman]

The person who was allegedly my manager (but really an old friend) said, "Wow, that's the end of an era". The person he reported to (also an old friend) sat back, looked at me and said, "You XXXXX!" (Xpletive deleted) but with a big grin.

I got the "is there anything we do to get you to stay?" thing too from someone else but I think that's trained management-speak. I said, "well, actually... nothing". He knew I meant it.

 

[jjquantz]

As was said earlier, assuming you are well regarded...

When I announced the first reaction was total, speechless shock. Of course my boss was a "spend it while you can" sort who had real difficulty conceiving that someone could retire at 55.

After that came the negotiation, but it was pretty one-sided. I was managing three grants that all ran out simultaneously and I basically said that I would remain through the end of those grants and would work from home 2 days per week and transition to part-time status as the work-load wound down. They couldn't risk having me bail and leave them to manage the grants so they were more than happy to agree with the suggestion.

I would say that I left on pretty good terms with the members of the organization but, because the organization is struggling, there may be a little resentment that I didn't stick around to help right the ship. On the other hand, they didn't have the money to carry my salary after the grants ran out, so I don't know how they would have expected me to stay on.

No resentment from the other 3 persons who left the organization during the same calendar year, however. We are all still on good terms, keep in touch and socialize every now and then.

 

[nuke_diver]

I sort of did this week as an attempt to get placed into a voluntary layoff that would get me a package. Part of me regrets it, not because I don't plan to leave but because if refused (and that is possible) it puts me at a disadvantage and I don't like that much.

But in my case my boss wasn't shocked since I have been planning and talking ER for a number of years. I will leave on good terms or I will be leaving very soon (if they accept and walk me out the same day which would create some issues potentially but I'll deal with them if that happens).

 

[bbbamI]

When I decided to leave my job, my boss cussed a blue streak that is still orbiting the earth.

He then smiled and asked if I could stay six more weeks instead of two.

I agreed.

 

[Al in Ohio]

Please do not assume I am not highly regarded. Any discussion in that regard is well taking up unecssary space at best.


Sent from my iPhone using Early Retirement Forum

 

[pb4uski]

My boss had known that I planned to retire in my mid 50s as a result of a conversation that we had at breakfast one morning when I was 50. We were/are good friends and at breakfast he casually inquired as to what I was thinking in terms of retiring and I told him "zero to 5 years" and he just about choked on his eggs (I think it was the zero, not the 5 years).

When the time came (and it turned out to be six years as I did a OMY because of the recession and wanted to get down to one house before I retired), he was gracious and said that he was happy for me but sorry to see me go and that I added value to our practice and would be missed and that they didn't know what they would do without me. I responded that I appreciated it but that they had a lot of smart people there and what I was doing wasn't rocket science and the I was sure they would figure it out (which the did as I wasn't called back).

All in all, it was a non-event for me, principally because I had dropped crumbs here and there over the years.

 

[ls99]

The boss started a meeting to hand out crappy assignements. I said before you start, I'll be retiring in two weeks. His and everyone else's jaws dropped. I did not give any hints beforehand.

Had my resignation letter in my pocket, been carrying it around for weeks, just waiting for a fine opportunity, pulled it out, signed it.

The silence was deafening.

 

[Al in Ohio]

I expect it to go much as Steelyman described.


Sent from my iPhone using Early Retirement Forum

 

[MBAustin]

Most likely result, assuming you are well regarded, is they'll say "wow! Are you sure? Anything we can do to change your mind? OK. Don't let the door hit you in the ass on the way out."

+1

I was very well regarded and got a couple of phone calls to make sure I was serious and that was about it. I thought I'd get a call later to come back and consult but it never came.

 

[Midpack]

My boss was a true asshat about it, even though I was more loyal than he deserved, he didn't speak to me most of my last month. All he cared about was me retiring relatively young (57) might make him look bad, 'why would anyone leave voluntarily?'

And reactions of co-workers up and down the org chart ranged from jealous animosity to genuine best wishes - and every variation in between. And some were not as I predicted, good or bad.

But there's no general answer. No one is likely to know how your boss will react better than you do...

 

[Onward]

Stunned silence.

And then I hung up.

Gives me the warm fuzzies to this day.

 

[Whisper66]

I had been open with my management for several years that I planned to retire in my late 50's (several years from now). Due to changes in my job and my family this last year, I began considering retiring even earlier, at 55. I had an excellent relation with my direct manager so gave him a heads up one day that I was considering this. He's a good guy and I really didn't want to totally blind side him if I chose to retire. One weekend a couple months later, I made the decision to retire and notified my manager that Monday. He was hoping I wouldn't make that decision but was very supportive and gracious. We had a very good conversation. He tested me a bit on why I was choosing to retire so early and if there was anything that might change things. But he wasn't pushy and conversation was very positive. Later that week I had a very similar discussion with next level of management who offered the same tone and positive feeling. Overall my exit was done quickly (my choice) and smoothly (good response by organization) and I was very appreciative and now very much enjoying my retirement. Hope your transition goes as well.

 

[LoneAspen]

The boss started a meeting to hand out crappy assignements. I said before you start, I'll be retiring in two weeks. His and everyone else's jaws dropped. I did not give any hints beforehand.

Had my resignation letter in my pocket, been carrying it around for weeks, just waiting for a fine opportunity, pulled it out, signed it.

The silence was deafening.

Bravo! Wish I could have seen that!

 

[48Fire]

My boss was completely supportive, and a little jealous, but not in a negative way. About 2 percent were haters. Most were very happy for me.

Sent from my SCH-I535 using Early Retirement Forum mobile app

 

[ohyes]

Most likely result, assuming you are well regarded, is they'll say "wow! Are you sure? Anything we can do to change your mind? OK. Don't let the door hit you in the ass on the way out."

Pretty much summed up my experience, lol.

I knew I was valuable, just not THAT in-valuable.

 

[bingybear]

Please do not assume I am not highly regarded. Any discussion in that regard is well taking up unecssary space at best.

I don't think anyone was questioning that. When one announces they are a short timer, you have to delegate work that fits the time left and prep those who are picking it up.
I was well thought of... but since I was not willing to do a 30 hour/wk consulting... I doubt I'll see any work. They let me stay as long as I was willing and treated me great. But they have a company to run... and if I'm not running with them... I'm out of the company. Many of them are still good friends.

 

[ERhoosier]

....I was very well regarded and got a couple of phone calls to make sure I was serious and that was about it. I thought I'd get a call later to come back and consult but it never came....

Prob a much more common reality than many FIREs would care to admit.

 

[Cat-tirement]

In my case the announcement and responses went pretty well. My manager was five years older than me, and was envious (in a pleasant way), but was also truly happy for me. He was also thankful that I gave him about a three month notice. A few days later he made the obligatory ask if I could be persuaded to stay, prefaced by "I know what your answer will be, but...".

 

[martyp]

I informed my boss of my intention to ER (at age 55) after a bad 9 months. Her department was being downsized as was my group. I wasn't really in danger of being let go but I figured that I would be treating myself and solving a problem for her about what to do with me. She seemed to be taken by surprised but was calm about it. Not then or later did anyone ask me to stay on. She treated me well those last 3 months before I left.

9 months later she was laid off by her bosses. She never saw it coming. She looked stunned when I saw her at her going away party. She was way too young to ER. She found another job and got married. She recovered but I think it stung.

 

[Bamaman]

My company overreacted in 2008's business turn down, even though it really didn't effect our company. They laid off all the youngest, lowest paid employees and everyone 55 years old and older--the highest paid. They're trying to run a $15 billion company with jobs subcontracted out--and few company employees.

I was 58 1/2 yrs. old, which was perfect. i was paid 5 weeks vacation, 1 year's severance pay and a supplement until I reached 62 years of age. I drew almost 2 years of unemployment. I'm now on the company's Medicare supplement package.

Looking to my Facebook account, very few childhood friends have worked past 60 years of age. No friends are working to full retirement age. Everyone has a life span, and I intend to enjoy every day of my retirement.

 

[rodi]

When I gave notice my boss was surprised it was so soon - but he knew I'd been working toward the ER goal. We used to have general discussions about investing/college savings/paying off mortgages/retirement in our development lab. He overheard enough to know I was goal oriented. His main concern was that I properly hand off work... which I did.

My boss and most of my coworkers were happy for me.

 

[jabbahop]

I told my boss @ the end of my review. It was the "you do great work and are really valuable but because you are at the top of your range, you get a small raise and no stock this year. Now as far as what I want you to accomplish in the coming year ..." I stopped him right there, thanked him and said I had some news. He was surprised but not shocked because our stock has had a large run up over the past decade.

It really was a huge relief because I would have been upset by the lack stock, etc. but could now just not care.

Since then everyone @ work has been extremely supportive, sad to see me go, etc.

I have even gotten incredibly nice and complementary emails/phone calls from the CEO, and my SVP (used to be my direct) boss. Both called out my contributions to the company in glowing terms. Given I have worked remotely for the past decade which has made me less promoteable, it has been great to hear that I have been valued. It completely made the bad taste from the review go away.

Just three more weeks until I fly out for my final week or meetings and onto the next chapter!