T minus ~30 days

[enginerd]

I didn't notice if any one mentioned this. Will you be 55 when you actually pull the plug? IIRC, retirement AFTER you turn age 55 entitles you to get into your 401(k) without penalty.

The rule is:
Distributions made to you after you separated from service with your employer if the separation occurred in or after the calendar year you reached age 55.

So you can be just shy of 55.

 

[klscaz]

It's just that work has defined who I AM for so long that it's essentially going to change a big part of that. I also truly just don't want to give up the good W-2 income and HC, either, but at some point I guess we all get to that point where we shift from paychecks to living off our plans..

It is a big shift and scary at first. I retired 3 months ago at age 59 and so far, I have no regrets. I had a one shot deal to buy "retiree" healthcare and I took it so I am covered until I can go on Medicare at age 65.

Like you, I was done. I also had a non-life threatening health issue that made the decision easier for me. Also, my spouse is 7 years older so he was already retired.

Financially, I think I'll feel better when a full year has gone by even though I did extensive research and planning in advance of my retirement. Emotionally, I'm loving it and I'm not bored at all. I gave 3 months notice and kind of regretted that. I could have given one month and probably should have. Good luck with your decision!

 

[may pop]

Retired1
If the company didnt want me they would walk me out the door immediately.. The boss I had needed to be taught treating employees like dirt (worse) is not acceptable. I must not have been a valuable as he continued way to long. I left promptly without vengence or malice. Still to this day I receive phone calls wondering how to run the buildings.
Ive moved on but they havent.

 

[24601NoMore]

Hey, gang..OP here. Thanks for all the feedback and kind words..

Just got back from a 3-day offsite with my Director and the rest of the team that has made it CRYSTAL CLEAR that it is way past time to bail.

He spent the entire first hour basically lecturing all of us that we can't have a repeat of the bad numbers from Q2 and that we need to "find a new gear" (apparently beyond the 12-16 hour days + weekends we're already giving). Problem is - none of us are "salespeople" but that's apparently now what our job is as new EVP who started in January sees it that way. No-one of course told us, and it's a safe bet HR doesn't even know our jobs have been totally redefined. Bigger problem - what we are being tasked to sell is not the main product the company has..and we have literally hundreds of "partner" companies who sell exactly what our group under him does..and here's the kicker - everyone at our company prefers to push the partner deals over what we're told to sell because the partners are cheaper and in many cases able to respond more quickly and with less red tape than we can. Even better, we are being given what are essentially ANNUAL quotas at other companies and being told to drive that volume of business every single QUARTER. It's essentially completely impossible and gee - here's an idea - maybe why we "missed the (impossible and totally unachievable) number" last quarter.

Oh, to top it off - we are not paid as salespeople (ie: no commission just a really tiny "bonus" that's at management discretion) because Finance does "not want us competing with our partners". But, "make your number". So I have all of the stress of a typical sales job but absolutely none of the upside in terms of compensation. And, essentially everyone in the company who's not part of our rag tag group of misfits actively sells against us and promotes our competition. Hey, where do I sign up for a great gig like that? </sarc>..

Latest example - I have a very large deal that if closed, would get me to 75-100% of my "number" for Q3. Sales VP for the main product group decides HE wants one of our partners to get the business. I'm told because the Sales VP basically runs the show and because everything is super political to stand down and let the partner take it..but am also told by my Director that we "need to make our number". So the goals of Sales (for the main product) and our group are totally not aligned. It'd be reasonable to think that if management wants to make that call they'd give us quota relief for Q3 but nope..just find another very large deal to replace the one we don't want you competing with the partner on. Right. My pipeline is just full of $1M+ deals. In the meantime, I'm on dozens of super political calls every week trying to herd all the cats - partner, our people, Sales - in the right direction..and basically being cut out of the deal completely. That happens time and again on many deals so it's not just an isolated incident.

I'd (illogically) hoped that we'd hear a different message at the offsite and that people have come to their senses on expectations, but if anything, it actually just continuing to get worse. Director guy "got the <bleep> beat out of him" by the EVP (according to Director) and guess what is rolling downhill. He's under huge pressure so it's all coming down on us. But, stand down on your big deal so the partner can take most if not all of it. It TRULY MAKES NO SENSE WHATSOEVER.

The ONLY glimmer of hope - and it's a tiny one - is that I heard about a non-quota'd position that he might need to fill to support the group. It's something he's thinking about creating but no formal req or even approval yet. I'm sure it'd also pay WAY less than I'm making, but at least I could stay a while longer and get more of the currently unvested RSUs and HC. Who knows if that will come together or not but it's the only way I see currently to even have a small chance of staying.

Sorry for the long rant but someone asked upthread "what's so bad? Why can't you just hunker down and wait it out"..so, it's very very likely that after the next stock vests it is time to go - which is heart breaking because I truly do love my job otherwise and am pretty good at it. But it's just a completely dysfunctional situation and it's impacting my health and happiness in a major way also, and we all only go around once..

If I do bail, it's just a bit scary to jump into the deep end of the ocean..even with all the planning ahead of time.

More to come I'm sure.

 

[Carpediem]

Just got back from a 3-day offsite with my Director and the rest of the team.....

That ^ is enough to make me want to leave! The only thing I hated more than offsites was overnight offsites. Sounds like a tough situation. Good luck whatever you decide to do.

 

[Conundrum]

OP,

Sorry you’re in such a tough spot. That stinks. This is the internet and I don’t know you at all. However, based only on your posts these folks are in your head pretty good right now. Don’t let them get the best of you!

That’s a tough life to live and no fun at all. I jumped after about 3 years where the flame was turned up. Hearing “beat last month” every month for 3 years. Brutal.

I wish you well!

 

[Al18]

Wait until the stock vests, then give them 30 days notice.


Just say to yourself 'Not my circus not my monkeys'



Be sure to add yourself to the Class of 2018 thread and good luck on your retirement

 

[camfused]

RetireSoon, are you sure that this stock you have been waiting for will be worth anything in a year? It sounds like your megacorp is going to implode.

 

[24601NoMore]

RetireSoon, are you sure that this stock you have been waiting for will be worth anything in a year? It sounds like your megacorp is going to implode.

ROFLMAO!! (Literally..I laughed so hard and so long at that comment I was on the floor laughing like I'd finally snapped and lost my mind) - because it is SO SPOT ON AND TRUE.

This situation is either like a Harvard case study on how NOT to run a company, or one of the funniest Dilbert strips you've ever seen.

The founder of the company and the long-time CEO left about a year ago. Still on the BOD but high-tailed it out of dodge with their big piles of cash. New CEO came on board and quite frankly sucks. Yet, WallStreet keeps buying up the stock and it's been somewhat vertical. I'm pretty convinced it's going to go vertical in the opposite direction when the Wizard of Oz curtain finally gets pulled back one of these quarters.

I've kept some of the RSUs that vested in past quarters and have some decent cap gains sitting on them. Want to sell next year when my "income" will be below $104K (or whatever the max is for zero tax on LTCG Married filing jointly). It's a game of chicken at this point but I'd be getting roughly 24% more by waiting until 1/2/19 to sell them. Guess we shall see..

Couple weeks to go at this point. Every time I think I can deal with this a bit longer management goes and does something really stupid (like berating us in an email this morning for some of us [including me] leaving his meeting early last week. I had a customer call that I didn't want to do from the causeway of the airport with 10+ people on it and it was important - so I told him, yet this AM we get a pissy email about how disrespectful to the rest of the team it is when people leave early. Oh, and a request to "send me a list of 3 things you're going to stop doing and 3 things you're going to do differently as a result of our meeting last week". Which basically implies we ALL have room for lots of improvement even though we are busting our humps to the max. That was from our GM who ran the meeting. Then, my manager sends a request for YET ANOTHER weekly spreadsheet - as if the 14 different reports and systems we already have to update isn't getting him what he needs. Sigh....)

 

[mystang52]

....Couple weeks to go at this point..... Oh, and a request to "send me a list of 3 things you're going to stop doing and 3 things you're going to do differently as a result of our meeting last week". Which basically implies we ALL have room for lots of improvement even though we are busting our humps to the max. That was from our GM who ran the meeting. Then, my manager sends a request for YET ANOTHER weekly spreadsheet - as if the 14 different reports and systems we already have to update isn't getting him what he needs. Sigh....)

Whenever that list of 6 things is due, I'd quietly reply with the 6 things but hand it in just prior to its due date. Ditto for the spreadsheet request. I also suggest that you be very careful about the 3 things you will stop doing; keep them innocuous and be sure they cannot be fodder for reason to terminate. You're so close; you do not want to jeopardize your employment status until it's safe to give your notice.

 

[Aerides]

Since the new exercise (the list) is ultimately meaningless to you, can you do it with a sense of silly, bemused, all-in optimism? All "yes sir no sir, exactly sir!"

Fake it till you make it? Or in your case, fake it for about 10 more days. Then give your two weeks the day after this vest. You should be in cat-that-swallowed-the-canary mode now.

 

[Pellice]

RetireSoon, you are almost there!! Please don't stay beyond this vesting date. You've made a sensible decision to wait for this one August date, and then you are gone. I'm a little confused as to the exact last date from your posts, but I am not at all confused about what you need to do: it's coming through loud and clear. Honor all the work and the mental and emotional energy that you have put previously in by now listening to your body and soul (and wife!) - and just leave on the August date you've already picked out. I can almost guarantee that your happiness and joy will obliterate any regrets about money that you have. You will be so busy with your hobbies and relationships that you won't even think about additional sums of money. Your health will improve, and that is worth riches both tangible and intangible.

I am sending good wishes your way. A steady course. Please continue to update, I am interested, and others are too, how to manage such a tough work situation the last couple of weeks. Those memos! They are like horror memos.

 

[camfused]

I say screw the two weeks notice. After you get your stock, tell them you are leaving that day, and do it.

 

[MichaelB]

Since the new exercise (the list) is ultimately meaningless to you, can you do it with a sense of silly, bemused, all-in optimism? All "yes sir no sir, exactly sir!"

Fake it till you make it? Or in your case, fake it for about 10 more days. Then give your two weeks the day after this vest. You should be in cat-that-swallowed-the-canary mode now.

+1


Make it a secret game with yourself if you have to. You've been working a lifetime, so 10 days is nothing. Just make sure to meet the minimum standards for employment and not give them any reason to try to take away or claw back any of that stock award.

 

[Scuba]

I’m thinking my list would be: as a result of our meeting, I’m going to STOP working here and START enjoying my well-planned ER! Turned in right after you get your August RSU’s.

You’re almost at the finish line! Hang in there and please give notice soon.

 

[24601NoMore]

Good advice gang..

Another interesting datapoint - one of my peers recently decided to move to a new group within the company. ON THE SURFACE it was "person X has a better opportunity and wanted to make a change".

Heard through the grapevine (a friend of mine who's friends with him and heard directly from him) that he "hated his job" and "could not wait to get the <bleep> out".

Talked to others on my team at the offsite..they all feel the same..aside from one or two sycophants who can't help but kiss my GM's arse. (One of them worked w/him at a past company so is a FOB. The other is just a kiss a$$..) Theirs is coming as well..the whole thing IS going to implode. I give it 2 more quarters max before it all goes down spectacularly in flames. Will be interesting to watch - even if it's from outside the company..

 

[Aerides]

Will be interesting to watch - even if it's from outside the company..

Nope, you won't care and shouldn't, about 4 days after you retire. It will at most be amusing and distant when you catch up with friends, but it really won't be interesting any more.

And drop the "if".

 

[Scuba]

Nope, you won't care and shouldn't, about 4 days after you retire. It will at most be amusing and distant when you catch up with friends, but it really won't be interesting any more.



And drop the "if".

I agree! You’ll be too busy enjoying your life to want to keep up with what’s going on back at your old employer. I didn’t have nearly as bad of a situation when I left my job and still haven’t really kept in touch much. Too many other fun pursuits.

 

[24601NoMore]

Quick update - I'm literally buried in work. Could work 24x7 and not get to half of it. Part of the reason is I'm picking up for another guy who bailed from the team to another group (smart guy) PLUS I was out of pocket for 3 days last week at the god-forsaken offsite and of course got WAY behind. THEN, I get a meeting invite for a 5 hour meeting (?!) tomorrow that I need to attend. SERIOUSLY?! I can't even get my expenses submitted to turn back on my corporate card to use it for upcoming travel (yeah, they turned it off because I'm tardy submitting) let alone get to 1/10th of what I am being expected to do.

I keep trying the "eat the elephant one bite at a time" and just keep plowing through things one by one, but the freaking elephant is the size of Texas.

This is becoming a real problem because I'm working 12+ hour days every day and can't even find time to "cope" mentally with the whole decision and major life change I'm facing. What I REALLY need is to spend some time by myself at the park, trail, etc thinking..and I can't even get that. And I'm pretty emotional by nature (gee, ya think?) so need some time to brew on all this. Nope!

There's a good scene in the final Lord of the Rings movie where Frodo is at the footstep of Mount Doom and literally can't take another step because the weight of the "one ring" is too much to bear. So, he collapses and almost doesn't finish the journey.

Yeah - it's exactly like that. The weight of all this (facing the end of my career after all these years) is indescribable and unlike anything I've ever experienced. I'm having a pretty hard time even putting one foot in front of the other at the moment and am being expected to respond to 20+ major things every day. So, no "just dial it in - come in early. Leave late. Take long lunches". I can't even get time to pee (now I know how the Amazon warehouse workers feel! Got a pop bottle handy?) and am totally and completely exhausted.

Suggestions welcome/appreciated.

BTW, I realize I'm at < 2 work weeks to go. That may as well just be ten lifetimes at this point.

TIA.

 

[SumDay]

I say screw the two weeks notice. After you get your stock, tell them you are leaving that day, and do it.

Amen! I gave five months notice and am really regretting it. I'm a few weeks out and NOW they are saying "oh $hit she's leaving. How do you do your job again?"

 

[Carpediem]

So, no "just dial it in - come in early. Leave late. Take long lunches". I can't even get time to pee (now I know how the Amazon warehouse workers feel!

Not trying to be a smarta__ or anything but you do realize this is self imposed, right? The only person stopping you from coming in late, leaving early, taking long lunches, or going to the bathroom is YOU. Like others have said, just do enough to not get fired before you're outta there.

 

[24601NoMore]

Not trying to be a smarta__ or anything but you do realize this is self imposed, right? The only person stopping you from coming in late, leaving early, taking long lunches, or going to the bathroom is YOU. Like others have said, just do enough to not get fired before you're outta there.

Would love that to be the case. I'm getting HAMMERED by people all wanting things. If I don't respond, they escalate.

Any other suggestions?

 

[HarveyS]

I wish you the best. You need to focus. Doing an expense report is about a 15 minute task if you don't leave it for weeks. Now your card is turned off, and you are making work for others. They need to send a note saying it got turned off, they need to review your submission, they need to call the credit card company to turn it on, etc. At my ex mega, it required an officer to turn it back on. You claim to be to busy at work to get to the expense book. Yet, you post here twice today during normal work hours. If my ex mega-corp caught you posting on here during business hours you could be fired for cause.
Focus. Do your job. Then retire. Working 12 hours a day is your fault, not your company's. You can walk on the trail and think after you quit if you decide to work all your waking hours.

 

[24601NoMore]

I wish you the best. You need to focus. Doing an expense report is about a 15 minute task if you don't leave it for weeks. Now your card is turned off, and you are making work for others. They need to send a note saying it got turned off, they need to review your submission, they need to call the credit card company to turn it on, etc. At my ex mega, it required an officer to turn it back on. You claim to be to busy at work to get to the expense book. Yet, you post here twice today during normal work hours. If my ex mega-corp caught you posting on here during business hours you could be fired for cause.
Focus. Do your job. Then retire. Working 12 hours a day is your fault, not your company's. You can walk on the trail and think after you quit if you decide to work all your waking hours.

Posting here takes 2 minutes. Doing expenses is painful and will take 30+ if not longer.

I disagree that posting here during working hours can get anyone 'fired for cause'. The company does not own my every waking minute - I'm an executive-level salaried employee and am measured SOLELY on results, not on "punching a clock". I can actually do whatever the hell I want, as long as I deliver.

2 minutes here and there is not materially impacting that outcome. Surprised anyone would even be critical in that way. For God's sake..

 

[24601NoMore]

Working 12 hours a day is your fault, not your company's. You can walk on the trail and think after you quit if you decide to work all your waking hours.

Totally disagree, BTW. You try taking the workload I have and get back with me, K?