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They want me to stay.... What Would You Do?
Old 04-06-2021, 09:57 AM   #1
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They want me to stay.... What Would You Do?

My director pulled me aside the other day and informed me that they are not wanting me to retire, and are asking me to stay at least 2 more years and restart a substation we tried a few years ago. Back then I worked it and it was miserable, and our call volume is now higher.
I recalculated my retirement with the possibility of working it, and it will only add about $300 a month to my monthly retirement check. I can almost make that working PT one shift a month.. (If I decide to go back)
Other benefits ....
Saving about $550 a month for insurance for 2 years.
Adding $20-30K to my 401K.
SS wont really change any.

Currently FireCalc says I have a 98% success rate on retiring this year,
WITHOUT the wife's money included, Dropping $25K in a few years for a truck and waiting till full SS at 67.
So it will pad a little but not really needed....

what would you do?
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Old 04-06-2021, 10:06 AM   #2
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Only you know the answer to that question.

I have been retired for nine years. Lots of lifestyle changes and travel. Would not change it at all.

You will have to offset the value of two years of healthy retirement against the opportunity cost of acceding to your director's request.

Just one thing....you cannot buy time. Especially healthy retirement time. Once it has passed it has gone forever.
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Old 04-06-2021, 10:07 AM   #3
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Your title is "THEY" want you to stay. Reframe it. What do YOU want to do? Doesn't sound like you are that enthralled with the idea.

I already knew when I left I'd need at least double my salary to go back for even 1 year. Cover more than a few Blow That Dough projects, that sort of thing.

Are they throwing money at you to make you stay? or just guilt?
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Old 04-06-2021, 10:08 AM   #4
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... Back then I worked it and it was miserable, and our call volume is now higher.

I recalculated my retirement with the possibility of working it, and it will only add about $300 a month to my monthly retirement check...

So it will pad a little but not really needed....
So in summary you would be working for two more years in miserable conditions to earn money that you assess is not really needed. Is there really a question here?

In all seriousness, pulling the plug on employment always means that you will be leaving potential income on the table. If that income is not necessary and you are not enjoying your job now or anticipate the conditions deteriorating, then you might as well leave.

You could politely refuse the new assignment if you are happy with your current position. If your director insists on changing your position, then you can exit at that point.

Nice to have options! Congratulations on achieving FI!
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Old 04-06-2021, 10:08 AM   #5
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I would leave as planned. There is no reason for you to spend 2 more years on something you know will be miserable, when it barely makes a difference on your retirement.
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Old 04-06-2021, 10:09 AM   #6
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Like you said, it really doesn't move the needle so go with your plan and not your employer's plan. Two years of living your life versus two years of potential misery.
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Old 04-06-2021, 10:14 AM   #7
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My director pulled me aside the other day and informed me that they are not wanting me to retire, and are asking me to stay at least 2 more years and restart a substation we tried a few years ago. Back then I worked it and it was miserable, and our call volume is now higher.
I recalculated my retirement with the possibility of working it, and it will only add about $300 a month to my monthly retirement check. I can almost make that working PT one shift a month.. (If I decide to go back)
Other benefits ....
Saving about $550 a month for insurance for 2 years.
Adding $20-30K to my 401K.
SS wont really change any.

Currently FireCalc says I have a 98% success rate on retiring this year,
WITHOUT the wife's money included, Dropping $25K in a few years for a truck and waiting till full SS at 67.
So it will pad a little but not really needed....

what would you do?
Are they providing you a financial incentive to continue working? Or are they continuing your current pay and just asking you not to retire? If the latter, it's a no-brainer. If you already made the decision to retire, and the only thing that changed is that your employer doesn't want you to retire... Well then nothing has changed. Now if they're doubling your salary or something, then maybe... but it sounds like you already know you're going to be miserable, so why spend your last two working years being miserable when you're already in a position to retire?
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Old 04-06-2021, 10:15 AM   #8
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Old 04-06-2021, 10:18 AM   #9
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Based on what you wrote, I'd go as planned. The word "miserable" is the key to me. If they really want/need you to stay and be "miserable", they could pay up big time.
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Old 04-06-2021, 10:18 AM   #10
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I would have needed a substantial financial incentive to stay past my planned retirement date. Heck, even the prospect of arguing before the U.S. Supreme Court wasn't enough. (As it turns out, they denied certiorari, so my time would have been wasted.)
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Old 04-06-2021, 10:20 AM   #11
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what would you do?
I'd be out of there so fast...
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Old 04-06-2021, 10:29 AM   #12
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Thanks for the fast feedback... They haven't give any numbers, but I figured with a $10K increase, and I HIGHLY doubt they would do that much.
I do love what I do.. Its the side BS thats getting old.. its either getting worse or I'm growing less tolerant... LOL
The wife and I talked it over and we both agree its not really worth it, but having other opinions never hurts...

now with adding her income in...and starting SS at 62.....We show 100% for 35years

FIRECalc looked at the 115 possible 35 year periods in the available data,
Here is how your portfolio would have fared in each of the 115 cycles. The lowest and highest portfolio balance at the end of your retirement was $145,000 to $7,561,113, with an average at the end of $4,488,385.
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Old 04-06-2021, 10:30 AM   #13
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LMAO and 4 more replies while i type...
THANKS TO ALL
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Old 04-06-2021, 10:38 AM   #14
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I have a plan that shortens your retirement by at least two years, probably more. Please sign here.
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Old 04-06-2021, 10:44 AM   #15
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Old 04-06-2021, 10:46 AM   #16
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I have a plan that shortens your retirement by at least two years, probably more. Please sign here.
Go ahead and send me the paperwork... I PROMISE i'll look it over
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Old 04-06-2021, 10:47 AM   #17
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I would leave as planned. There is no reason for you to spend 2 more years on something you know will be miserable, when it barely makes a difference on your retirement.
+1 It seems foolish to endure 2 years of likely misery for a negligible increase in success.... from what 98% to 100%? and in both cases without the wife' money.

They make money off of your efforts so of course they want you to stay.

If you leave and end up unhappy (I doubt it but never say never) you can always go back there or another employer.
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Old 04-06-2021, 10:57 AM   #18
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Go ahead and send me the paperwork... I PROMISE i'll look it over
Two will get you four. Such a deal for you. I had to fight the directors for this offer.
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Old 04-06-2021, 11:05 AM   #19
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What would I do? Leave immediately.

You might possibly have 2 very tough years ahead. Be warned.

I got a similar spiel and agreed to stay on 5 extra months. They were difficult. It was a mistake. I got a small bonus at the end that wasn't worth it.
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Old 04-06-2021, 11:11 AM   #20
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I realized that in order to change my retired life style, I probably would have had to stay 5 or more years. I wasn't going to stay that long, so there was no point in staying any longer. I look at retirement as a stair/plateau type of thing. Once I was on a plateau I was comfortable with, there was no reason not to retire. The next step was not worth it for me.

So, if you're not getting to the next step, I would not (I did not) stay any longer. And, my situation was rather comfortable. If it's miserable, eve easier to leave now.
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