Easy to make decisions for someone else.
1. You make a plan, then work the plan. Don't wait to see what might happen, and certainly don't get worked up over it.
2. I have seen people decide to retire, and then get the opportunity to take retirement early, and get incentive pay for doing that. That 'extra bonus' is nice, but why waste your time waiting for it. That day may never come. Set a date to be out the door, regardless of whatever else might happen. I have also seen people retire, feel great about it, and drop dead 6 weeks later.
3. Decide what conditions that might happen before that date would cause you to turn in your notice for immediate departure. Or two weeks notice, whatever minimum might be. Don't take a crappy assignment hoping that the incentive RIF might happen within two months. If they offer a crappy assignment, turn in your notice.
4. This depends on how you wish to deal with the boss & HR. If they come out aggressive, I would flip back that 'I understand that you would like me to leave because of my age.' Let them worry about a lawsuit. I would not threaten to retire, they may decide to just give you a crappy assignment or to ride you to 'encourage' you to quit. You could tip your hand to say 'if there was incentive, I would probably retire.' But refer back to Step 1. You need to set your own date.
5. If you don't want to play the game, or try to give them heartburn, then simply wait until your current assignment is complete, and then give your notice.
6. If you are tired now, turn in your notice now. Your finances are in order, life is too short to put up with the BS.
I would only play the psychological games if there were a true horses butt in the system that deserved the heartburn that you might give them. And the only thing that corporate would care about is a possible lawsuit. If toasting somebody is not your style, set a date and get out.
Pb4uski has a decent plan. As soon as they tell you your next assignment, or at review time, tell HR 'why don't you come up with some incentive for me to leave on peaceful terms.' Give them a max of two weeks to come back with an offer, if nothing shows up, then turn in your notice.
Be gone no later than Valentine's day.
"To clarify for myself, I checked mega corps Termination Allowance Plan – I’d get 40 weeks, $110,000 after tax"
In your OP , you stated you only have 3 years with the co. Never seen a severance anywhere near that for a non-executive employee. Those deals typically are a week of pay per year of service. Were you an employee of another co. bought out by your current employer ?
I was in a similar situation (with less savings - but still plenty enough to pull the plug).
I'd been under layoff threat for several years. My boss and I had issues which made us both miserable. I kept hoping for a layoff for the severance.
In June I decided to just go ahead and quit. Best decision I ever made. The threatened layoff still hasn't happened. I quit right before they were going to start making me babysit a customer site on and off through the summer... Not my idea of fun (or productive) work. I like travel on my terms... not going to crappy podunk towns having little choice of what/where to eat and no stove to cook, and being away from my DH and kids.
If you're unhappy... and the numbers work... go for it.
How long would you keep postponing it? I read a few of the OP's posts--he started with a 10/2013 plan, pushed it to this past summer, then to 12/2014 (http://www.early-retirement.org/for...-your-retirement-day-72842-2.html#post1472061), now to some vague time beyond that because there might be layofds and there might be severance and a package.... He's been financially set from the original date according to his posts. Nothing better to do now with those 8 hours a day than sit in an office job he doesn't enjoy with a boss who is watching him for mistakes when he is FI?
It would only matter if he really cared. If the OP can just smile on the inside, this won't be an issue. The boss may want to hassle him to make him quit. Most companies would try to avoid major layoffs over Thanksgiving and Christmas. I think it's worth staying into January. The time is short. I wouldn't recommend the OP stay more than into February.Isn't going to work while you are being watched and on bad terms with your boss quite stressful? I know it would be if I were in your shoes.
The point is that if there is added stress due to this, it could manifest in really serious health problems for you.
Are you sure you want to shoulder the risk given your financial situation?
-gauss
p.s. I had one of my best friends at work die suddenly after the new (inexperienced) manager starting jacking him around for several years. My friend was also FI at the time. The new manager has since been demoted out of management for unrelated performance issues of his own
(basically too much up-managing while not running his own business)
To the OP - if your boss has already told you your a a poor performer, and you are also being investigated, it is unlikely you will get severance, they can just fire you. Remember that severance is *not* guaranteed unless you have a signed employment contract stating that. I have seen this happen at my Megacorp - poor performers hoping to stick it out to gain severance instead were fired months before layoffs with severance occurred.
He'll have to do it no sooner than Jan 5 (Monday) just like me.Resign on Jan 1, take your 2015 vacation time, and move on.
Grigori,
Why do you want to game the company
You say you can get 6 weeks for vacation and some holidays if you stay to a certain point... this is chump change to you... you have not said that the company has treated you badly, so why treat them badly
The only thing that I would stay around for is an annual bonus which I think is related to your prior years work and not gaming the company...
Just me I guess since a lot of posters seem to be on your side....
I don't know very many people that haven't sufferred through the various "oil wars." I'm on my 10th employer. Big Oil is still just another group of Mega Corps although it's probably more cyclical. It also pays better than most. After battling with operating companies for decades, I've ended up in the E&C end of things. No pension but now no stress. I'm also paid better than when I was at the operating companies. But don't forget, we're all special even if we aren't treated that way.I think I am angry and have some rage about how I could have been treated better by the oil companies. Like I'm someone special. I don't own up to that very often. And I seldom have someone honest enough to call me on it.
Thanks for pointing this out Texas Proud,
I think I am angry and have some rage about how I could have been treated better by the oil companies. Like I'm someone special. I don't own up to that very often. And I seldom have someone honest enough to call me on it.
Sometimes it's felt like a war zone, with decades of layoffs, pensions being taken away, high pressure to get results now or get shoved out the door, high competition, watching some guys spend 30 years at one company and walk off with the nice pension I never had, and having lots of jerky bosses. It's felt like dog eat dog, and I want to get my bite out of them just like they bit me a time or two.
At the same time, it's been high pay, I have been treated well at this company, I've had a steady career, and it's gotten me to FIRE. And I'm not any more special than the next guy. I will move on.
From a business side only, you are right again. It IS a game. I and everyone is gaming It's the game of maximizing value to the shareholder. For the corporation, they do whatever it takes, drilling more wells, or cutting costs (people) that gives the most value that year. Since I am the chief shareholder in a sense of my own one person company, I try to do the same thing : maximize value to myself. And if I'm going to liquidate my one person company by retiring, I try to get the most value in my exit, even if that means picking up easy money that might be lying on the ground as a layoff check. Even if I might not "deserve" it. I've seen companies big and small do the same thing. From my perspective, it all seems like pretty ruthless, bottomline stuff, at whatever level. I ain't no saint, and neither are they. But I don't want to actually hurt anyone.
Early 50s, not yet retired but hoping to get out by 55. One thing to keep in mind and this is a reality check and kind of a Debbie Downer. You are 59 and wife is 60. Just how many years do you think you have left to travel, sleep in late, check out some new hobbies, etc.? You have a seriously large nest egg, some of it relatively "guaranteed". What are you really waiting for? I am in medicine and practically what I see are some really good years for you, maybe 15 years, followed by significant likelihood of arthritis and limited mobility, hearing loss, cancer and other nice things of aging. It happens to us all, no escaping. It's something I think about a lot and I see so many of my colleagues sticking it out into their 70s so they can have the "good" retirement. Not going to happen for them. But it can happen for you, why not enjoy the fruits of your discipline and sacrifices. Good luck!
I am having similar feelings but I like my boss. I have had good performance reviews. He hasn't tried to fire me. And, you're worried about what you're going to say to your boss? It sounds like no matter how your phrase it you'll make his day.I probably just need to go into the bosses office and quit within two weeks. I've never quit a career before. It's so final. Even though quitting is a good thing, I'm feeling scared of what I'm going to say to the boss, and how it will feel to leave work.
Thanks BigE. I appreciate your thoughts and knowledge.
I know you're right, and we might not even have those 10 or 15 years. Just this past month or so, my wife has seen new health problems - needing to go to a cardiologist within two weeks for a stress test because calcification was seen on her aorta during a chest x ray, and starting to have a lot of hip pain, and needing to go to the doctor soon on that. I'm not feeling nearly as well as I did at 45 or 50, either - lots of aches and pains already !
I sincerely wish I could go back and save save save to get out by 55, as you are doing. That is very wise on your part.
I probably just need to go into the bosses office and quit within two weeks. I've never quit a career before. It's so final. Even though quitting is a good thing, I'm feeling scared of what I'm going to say to the boss, and how it will feel to leave work.
....I throw out another scenario. Do you have any vacation time? If so, take it between now and the end of the year. If you get more after Jan 1, schedule to take it ASAP. When that's all over, see if layoffs are imminent and/or underway. If not, quit. Of course, you can certainly quit now with no meaningful loss to your retirement. Congratulations to you either way you go.
Bravo! You have a great plan.2. I've scheduled vacation out to January 23rd, so I can be home. It's not retired, but it's still out of the office. I'll just wait and see if I hear anything from the company.