2035
Recycles dryer sheets
- Joined
- Jan 9, 2012
- Messages
- 214
Hi All,
Three weeks ago, I was informed that my job (along with hundreds of others) would be eliminated, but I negotiated to stay until 2/1/2017. I will continued to be paid bi-weekly until 4/5/2017, after which time I will we paid for excess vacation and 23 weeks of severance plus $9,000 for insurance - if I don't find an internal job. I'm half hoping to start anew with an outside company, but I'm a little nervous especially since I haven't finished my college education and my current job paid really well for admin work. I think my skills and experience are enough to compensate for the lack of degree. This is my second layoff - the first was WaMu in 2008, but I found a better job within a year. [emoji5]
My question is...has anyone managed to stay on track for ER through multiple layoffs? I started saving a little late, as I've mentioned, but thankfully I've managed to max out my 401(k) for the last few years.
My two big priorities during this uncertain time are staying healthy and insured, and protecting my nest egg.
Right now I have at 43:
401(k): $244,000
(+ $4,000 upcoming contributions thru 4/5. I started with $25,000 in this account on day one of my employment in 2009 - which I transferred from a rollover IRA.)
Roth: $50,000
I'll either make one lump contribution in April for my remaining 2017 contributions or I'll contribute monthly as normal.
Pension:
Age 55: ~$650+
Age 60: ~$700+
Age 62: ~ $750+
Ag 65: $850+
The company said they don't plan to offer pension payouts. Too pad, is like to roll it over into an IRA.
Cash: ~$25-30k after taxes
Three weeks ago, I was informed that my job (along with hundreds of others) would be eliminated, but I negotiated to stay until 2/1/2017. I will continued to be paid bi-weekly until 4/5/2017, after which time I will we paid for excess vacation and 23 weeks of severance plus $9,000 for insurance - if I don't find an internal job. I'm half hoping to start anew with an outside company, but I'm a little nervous especially since I haven't finished my college education and my current job paid really well for admin work. I think my skills and experience are enough to compensate for the lack of degree. This is my second layoff - the first was WaMu in 2008, but I found a better job within a year. [emoji5]
My question is...has anyone managed to stay on track for ER through multiple layoffs? I started saving a little late, as I've mentioned, but thankfully I've managed to max out my 401(k) for the last few years.
My two big priorities during this uncertain time are staying healthy and insured, and protecting my nest egg.
Right now I have at 43:
401(k): $244,000
(+ $4,000 upcoming contributions thru 4/5. I started with $25,000 in this account on day one of my employment in 2009 - which I transferred from a rollover IRA.)
Roth: $50,000
I'll either make one lump contribution in April for my remaining 2017 contributions or I'll contribute monthly as normal.
Pension:
Age 55: ~$650+
Age 60: ~$700+
Age 62: ~ $750+
Ag 65: $850+
The company said they don't plan to offer pension payouts. Too pad, is like to roll it over into an IRA.
Cash: ~$25-30k after taxes