Class of 2013

[Ronstar]

I'm running into a snag. I gave a 6 month notice and tried to get my partners to buy my company stock. None of the partners are interested, but the company will buy it in exchange for a new employee contract. Their contract idea is me working 3-5 more yrs, 2 days a week in the office. I want a shorter time frame working remotely with less responsibility. This could get interesting.

 

[ShortInSeattle]

I'm running into a snag. I gave a 6 month notice and tried to get my partners to buy my company stock. None of the partners are interested, but the company will buy it in exchange for a new employee contract. Their contract idea is me working 3-5 more yrs, 2 days a week in the office. I want a shorter time frame working remotely with less responsibility. This could get interesting.

Does your contract make them responsible for buying you out, or is it their option?

 

[Ronstar]

Does your contract make them responsible for buying you out, or is it their option?

They will be responsible - they will not have an option. They'll do this in exchange for me working longer to give them a longer transition. I've sold stock twice already and I'm down to under $100k worth, but I don't want to leave this hanging when my current contract ends 4/1/2013.

 

[traineeinvestor]

All else being equal, and if you have the time, I'd come back and finish the appraisals for your direct reports, and then go away for good. Others cannot give the people as fair a shake. Also, it will be remembered to your credit. Not as much as sticking someone else with the appraisals will be remembered to your discredit...but still.

Amethyst

+2

I'm in a similar position. If I go on 31 December 2012 (Plan B), it will have an adverse impact on bonus and promotion prospects for some of the local staff as well as resulting in my being excluded from the 2012 bonus pool. Plan C, is to hand in my notice immediately after the relevant decisions have been made in January/February which leaves me finishing sometime in the middle of 2013 (exact date to be negotiated). Oh well, at least it means I won't have to spend any of my nest egg until 2014.

(Plan A was to go at the end of last year but.....)

 

[cjacks]

Reporting in!

I haven't posted since January and I didn't start counting days until recently but I have chosen March 1, 2013 as my last day at work. Since I'm taking 3 weeks vacation in November and 1 week in December I think that makes me a short timer. I seem to be going thru a strange stage right now. I thought I would be really excited about retiring since I have disliked my job for quite awhile, but instead I am depressed and have a real empty feeling. Does anybody know if this is normal. I have plenty lined up to do when I retire but it really feels odd. I have been offered some part time work if I am interested. Sometimes I think that sounds ok but then I come to my senses and think I really want to break all ties. We are leaving on a 2 week cruise in early November and I am hoping that will get me out of this funk. I think I have around 72 actual work days left. I have met all my budget goals including paying off the mortgage. We are in good financial shape so I am not worried about that. I just can't beleive I am depressed over leaving a job I have so disliked. Many people at work have said they wish they were in my shoes. I agree but for some reason it just don't feel right.
CJ

 

[John Galt III]

cjacks,

I can relate. I am tentatively planning to retire in Spring 2013. But I might have to force myself to do it, against my fear of the unknown.

 

[steelyman]

Does anybody know if this is normal. I have plenty lined up to do when I retire but it really feels odd.

I'm kind of barging in here (I'm so last year's class), but I think this is completely normal. No doubt everyone experiences it differently, but I think that some don't realize (myself included) that there can be two periods you may go through when you ER: first is the buildup and countdown to when you actually do it, and second is the adjustment time (cool-down) period afterward. Lots seem to immediately jump into all sorts of pursuits - as if they were still on a time clock - without taking their earned time-out.

Many people at work have said they wish they were in my shoes. I agree but for some reason it just don't feel right.

I get more than a few "do you ever regret it?" type of questions from prior co-workers, and my answer is always an unhesitating "no". Sure, there is uncertainty, but there's also that when you emerge from the womb!

 

[67walkon]

Class of 2013 update

I told my partners at work that April 1, 2013 was it. There may be a few things I have to finish up that carry past that date, but I'm not coming to an office after that date and I'm not going to take on any new stuff that will run past that date.

After a really long time at the same place, it's a difficult trigger to pull, but financially and mentally, it's time.

The main comments I got were that they will miss me and "aren't you going to be bored?" Yes, I'll miss them, but no, I won't be bored.

 

[67walkon]

Shoulda posted here, but I did another thread elsewhere.

I told my partners this week that April 1 is it for me. The comments I got were that they would miss me and "won't you be bored?". I think I will miss the people, but I'm sure I won't be bored.

We have some details to deal with-like health insurance, buying the company car I use, and finishing up any matters that run past April 1. There will be a few, but I'll do my best to avoid any new matters that will run past that date. As for the things that do, I feel it would be irresponsible to leave clients in the lurch.

As for the car, I told them when the lease ran out on my Infiniti M45 and I got the business to purchase a Subaru Outback for me to use that I intended to buy the Subbie when I retired and keep it for a long time, so this isn't a surprise to anyone. And the Subbie has performed just as expected-60,000 miles in 2.5 years, lots of trips to our other house and about 29 mpg on the highway. Good car for a retired coot.

 

[Alan]

Hope you don't mind, 67, but I copied over your post from the new thread you started.

 

[67walkon]

Its all good, Alan

 

[traineeinvestor]

I thought I would be really excited about retiring since I have disliked my job for quite awhile, but instead I am depressed and have a real empty feeling. Does anybody know if this is normal..... I just can't beleive I am depressed over leaving a job I have so disliked. Many people at work have said they wish they were in my shoes. I agree but for some reason it just don't feel right.
CJ

Quite normal. There are plenty of studies which show that major transitions in life do cause people stress.

But....I fell victim to "one more year" syndrome last year and I can tell you that the disappointment of deciding to stick it out for another year, and worry that "one more year" will become several more years, caused me far more anguish than any concerns I might have about the transition to early retirement.

If it really worries you, why not take the part time job you mention for a while to give you a gradual transition?

 

[Nikita]

Planning to go Jan/Feb just before turning 60. 32 years at a very Big corporation is enough, retiree medical makes it easier. At least Im staying to complete a current project. Much of the operation is moving to another state, so Its a good time to say goodbye, but I was unable to get a layoff/severance/unemployment deal out of it.

 

[Throwdownmyaceinthehole]

Was planning on June 1, 2013, but our office just took a big hit in loss of sales. Big boys are coming in from the US next week. Looks like I may end up the class of 2012. Don't know if I'm super excited or super depressed - maybe a bit of both. I'd have to move back to the US ahead of time and our house is leased until June. May need to just go sit on a beach somewhere.....be a Texas snowbird or Belize?? Oh the decisions I will have to make!

 

[ERhoosier]

Late to this thread, but my job situation might force me into joining. Around 6mo ago went from private business to employee status which has been a real (ahem) 'transition' to say the least. Now boss seems to be trying to force me into rather undesirable job (more hours & WAY more stress @ same-to-less pay). AM he approached me I was rather upset. I just could not accept new position and was facing difficulties of moving & re-starting my career elsewhere in mid 50's (due to contractual non-compete). But as days have gone by I'm coming to peace that I do have viable alternative. ER @ my age ain't THAT unusual, FP says DW & I are comfortably FI given our lifestyle, I have plenty of outside activities, and men in my family do not have great history of longevity. Ideally I was planning to w#rk few more years, but beginning to think matriculating into Class of 2013 (after contractual 90d notice by employer) may not be worst outcome to my occupational dilemma.

 

[chris2008]

Welcome to the class of 2013!

If you are reluctant to leave the workforce it might be worthwhile to have a specialist lawyer look into the fineprint of your non-compete. I have seen some that read quite impressive but were not worth the paper they were printed on.

If you decide to ER, in 5 years time you may look back and realize that sometimes blessings come in disguise.

 

[67walkon]

The days between telling your employer (partners in my case) and THE DAY could be tough. I've already noticed some closed door meetings to which I am not invited. While I am obligated to and feel very fond of and responsible to the clients, the rest of work is really tedious. I guess that is part of the reason to FIRE. I have 3 or 4 small trials to handle between now and April 1 and I don't think the clients would want anyone else to handle them, but other than preparing for those and actually trying them, my motivation has pretty much disappeared. Why else would I be posting here mid afternoon?

 

[RitaR551]

My retirement date has moved up and I am now part of the class of 2012!

 

[Throwdownmyaceinthehole]

Doing the Obama care Happy Dance - last piece of the puzzle is now in place and I am good to go, will probably give Jan 1 notice next week - eeeeeekkkkkkk!!!!

 

[Spokane2303]

Another Election Day Happy Dance!

Another one doing the Obamacare Happy Dance!

Last unmet ER requirement box checked off November 6th at 8:18 p.m. (PST)

Giving notice on January 7th and out the door by Feb. 15th.

Staying long enough to max out my 2013 401K and to transfer my accounts to my replacement.

 

[KM]

So I did it today - I told my boss I was retiring. He was very supportive and commented that he had every intention of being gone as soon as he turns 55 also - so he gets it. "Some people forget - this is a job - it is not life" was his comment. I have really enjoyed working for him the past year - its' the other insanity I just dont want to deal with anymore.

I told him I would be happy to stay on through mid-late March, but wanted to be done by early April. This would allow me to see most 2012 projects to completion and complete all the reviews for my staff. And if they had my replacement ready before then, I would be happy to step aside and work as an individual contributor for the last month or so. Actually I would love that and given what is in the works -there is a strong possibility of that happening.

So now he needs to notify his management and then I will meet with my staff and tell them the happy news.

 

[martyb]

I haven't said anything to my boss yet...still thinking about when I want my last day to be. I've more than hinted to my co-workers though....

 

[KM]

Well my timeline to give notice moved up because I have one (and only one) person who works for me that I believe would be an excellent successor....and he told me the other day he was applying for a position in another department (same position as mine).

I felt I had to let my boss know, so he could talk with them and let them know my position would be opening up.

 

[ERhoosier]

If HI was last piece to ER puzzle, I might wait to see what develops. Seems deadlines for HI Exchanges are already being pushed back a bit-
States Get Extra Time On Health Insurance Exchanges - Kaiser Health News
Appears most everything in Obamacare law is at whim of Secretary of HHS (inc. deadlines, exemptions, etc.).
That said, anyone FIRE'ing now would have 18mo of COBRA to let things settle out.
Something to be said for hangin' on 'til mid '13 for that reason.

 

[Ronstar]

My situation is becoming more clear. It looks like I may be a part time consultant to our company in exchange for the company buying my stock. 1-2 days a week, 48 wks a year for maybe 2 yrs then down to 1 day a week for a yr or so. Very flexible, working from home about half of the time. It could start jan 1, unless I back out. Something about this seems like a prison sentence and nothing near retirement.