1 year after corporate downsizing- thoughts on *retirement*

[supernova72]

From some of the stories of "forced" retirement, I'm not sure which is better - to leave when you can't stand it any more or wake up one morning and find you no longer have a j*b. Assuming all else is equal (financial ducks in a row in either scenario) I would think it better to be "downsized" as you get parting "gifts." After I got fed up and retired, my Megacorp downsized 18 months or so later and I missed it. I wouldn't have traded the 18 months of freedom for the "gifts" the other folks got, but if wishes were horses, I wish that the day I got fed up, Megacorp would have downsized me. Hows THAT for a FIRE fantasy? YMMV

Op here. So true. Even though it was not on my terms I was able to draw my pension and retiree medical and they paid my severance/slck leave/vacation as well. It could have been so much worse. Having said that leaving on your own terms I imagine is a great way to ER. Those parting "gifts" allowed me to payoff my home and car. That's when I say "thank you megacorp". The ego hit will take a bit more time....

 

[Koolau]

Op here. So true. Even though it was not on my terms I was able to draw my pension and retiree medical and they paid my severance/slck leave/vacation as well. It could have been so much worse. Having said that leaving on your own terms I imagine is a great way to ER. Those parting "gifts" allowed me to payoff my home and car. That's when I say "thank you megacorp". The ego hit will take a bit more time....

I hadn't thought about the ego thing. My bad. I'm aware that many of us - me included - receive a lot of satisfaction and validation through our j*bs. I guess on that basis alone it could be better to leave on one's own terms and forget about the parting gifts. Still, 6 mo to a year of pay plus extra bennies is a lot of "validation", heh, heh.

On rethinking the situation, I'm sure I would have had at least SOME panic at finding out I had been "eliminated." I guess it just goes to show that we're never completely satisfied with how things turn out - unless, of course, my FIRE "fantasy" happened. I'm betting at least a couple of us here (not me) have had that come true. Would make for a great story not to mention "bragging rights." Imagine telling the folks at your retirement party that you were on your way to the boss' office to say "I've had it, I'm outta here!" but the boss interrupts you at "I've..." and says "I'm sorry, Koolau, your j*b has been eliminated BUT you get these parting gifts." If that has ever happened, I'm hoping someone here will give the whole story.

 

[Shanky]

One year in I had a few realizations. My golf game did not improve, my love life stayed the same & my body still did not look like a greek god. After a minute of contemplating my naive expectations, I counted my blessings and never looked back.

 

[rodi]

I had my 3 year "anniversary" of retirement earlier this summer.

I was worried about getting bored so I signed up for Italian classes at the local community college. That was good for a while... until I completed all 3 semesters (theoretically they have a 4th semester, but it hasn't been offered.) I took 2 other classes of "general interest" - and have reached a point where I don't want to do scheduled classes... too much impingement on *my* time.

I have enjoyed less interaction with people. Most people think I'm an extrovert because I can be chatty and friendly... but I really crave my down time at home and am a closet introvert. I choose my activities and friendships very selfishly now... My regular friends for the daily morning beach walk.... the same folks at my water fitness class... and about 3x a year I visit with one friend or another from my old job.

It took me quite a while to be comfortable withdrawing money from the nest egg. That didn't really happen till this year - after a couple of years of the new-normal-retirement spending were on the books. But I'm a worrier.

 

[supernova72]

I hadn't thought about the ego thing. My bad. I'm aware that many of us - me included - receive a lot of satisfaction and validation through our j*bs. I guess on that basis alone it could be better to leave on one's own terms and forget about the parting gifts. Still, 6 mo to a year of pay plus extra bennies is a lot of "validation", heh, heh.

On rethinking the situation, I'm sure I would have had at least SOME panic at finding out I had been "eliminated." I guess it just goes to show that we're never completely satisfied with how things turn out - unless, of course, my FIRE "fantasy" happened. I'm betting at least a couple of us here (not me) have had that come true. Would make for a great story not to mention "bragging rights." Imagine telling the folks at your retirement party that you were on your way to the boss' office to say "I've had it, I'm outta here!" but the boss interrupts you at "I've..." and says "I'm sorry, Koolau, your j*b has been eliminated BUT you get these parting gifts." If that has ever happened, I'm hoping someone here will give the whole story.

I might have under-estimated the importance the job I had now that I'm not there I talk about it more (weird). Folks look at me like "you had that much responsibility?" I was not an exec but sort of took my level and salary for granted now looking back.

Now what I hear about PT work is I'm "over qualified". Ha.

And to have a manager submarine you which half the experience and "managing" you from a state 1700 miles away who didn't know s*it about Information Technology was a pretty big blow----but I"ll get over it I believe.

But working for a 160,000 person company that have $100B in revenues and makes really cool things that fly in the air was rewarding. I keep saying I had 29 great years and 2 not so great ones at the end. Lol.

 

[supernova72]

One year in I had a few realizations. My golf game did not improve, my love life stayed the same & my body still did not look like a greek god. After a minute of contemplating my naive expectations, I counted my blessings and never looked back.

That is good to know about golf. When I played back in my 30's I never broke 90 and had one heck of a fade (slice!). I've considered getting back out there but I could not break 100 today.

 

[supernova72]

I had my 3 year "anniversary" of retirement earlier this summer.

I was worried about getting bored so I signed up for Italian classes at the local community college. That was good for a while... until I completed all 3 semesters (theoretically they have a 4th semester, but it hasn't been offered.) I took 2 other classes of "general interest" - and have reached a point where I don't want to do scheduled classes... too much impingement on *my* time.

I have enjoyed less interaction with people. Most people think I'm an extrovert because I can be chatty and friendly... but I really crave my down time at home and am a closet introvert. I choose my activities and friendships very selfishly now... My regular friends for the daily morning beach walk.... the same folks at my water fitness class... and about 3x a year I visit with one friend or another from my old job.

It took me quite a while to be comfortable withdrawing money from the nest egg. That didn't really happen till this year - after a couple of years of the new-normal-retirement spending were on the books. But I'm a worrier.

OP here. I considered taking classes as well although I spent about 11 yrs in undergrad and grad school and sort of talked myself to of it. I want to learn Spanish in a better way vs the 6 words I know.

My friend list has changed. Most of my non-corporate Megacorp friends are still working so the daytime friend list outside the gym is pretty short.

Spending more time visiting family is cool. As each week passes this ER stuff becomes more real. When I need to starting drawing on the 401K in 2018. I'll need to draw 3% next year (tax hit) and about 2% after that. First world problems. Ha.

 

[Calico]

OP here. What I've noticed is after a few months of car projects and decomposing there can be gaps in the day. I use the gym/bike/run/yoga but that does not take all day.

Daily interactions outside of that and family maybe a bit isolated yes. Coffee shops and pubs don't fill the void completely either I've found. I do date here and there still believe it or not.

Definitely a lifestyle adjustment that has taken longer than I expected to get used to have 50 hrs a week given back to me.

If you are already decomposing, I think you might be doing something wrong! I hope you meant decompressing!

[Sorry, I just could not resist. I'm glad I'm not the only one who lives at the mercy of auto-correct.]

 

[Rummy]

Get an old Jag-U-ar, you'll always have something to do...

(66 E-Type)

 

[supernova72]

If you are already decomposing, I think you might be doing something wrong! I hope you meant decompressing!

[Sorry, I just could not resist. I'm glad I'm not the only one who lives at the mercy of auto-correct.]

Crap---I meant to say decompressing. Auto correct got the best of me!!

 

[aja8888]

Get an old Jag-U-ar, you'll always have something to do...

(66 E-Type)

How about a worn out and rusty 45 year old VW Beetle? (they are easier to find)

 

[Scuba]

From some of the stories of "forced" retirement, I'm not sure which is better - to leave when you can't stand it any more or wake up one morning and find you no longer have a j*b. Assuming all else is equal (financial ducks in a row in either scenario) I would think it better to be "downsized" as you get parting "gifts." After I got fed up and retired, my Megacorp downsized 18 months or so later and I missed it. I wouldn't have traded the 18 months of freedom for the "gifts" the other folks got, but if wishes were horses, I wish that the day I got fed up, Megacorp would have downsized me. Hows THAT for a FIRE fantasy? YMMV

Koolau, I couldn't agree more!! Oh well!

 

[littleb]

So far, after 1.5 months of ER no issues at all with me. However, DH has his moments and his adjustment period is taking more time.

I had many plans in place to get the house ready to sell when we retired. All the plans are on hold until next year when we decide where to move. No hurry, no worries as the structured plans and stress melted away.

Pros---

Sleep so much deeper
Able to plan small mini trips for activities (Plans booked through November)
Cycling and hiking in the woods (found a local 6 mile trail in the woods)
Started back trail running
Exercising 5-6 days a week
Cooking and eating more healthy at home
Camping during the week when most people work (great campsites)
Paid health insurance premium through December (while working) so no money worries this year
No longer feel stress from dealing with job
No longer have to deal with corporate BS and people
No longer deal with structure
Having fun and enjoying life

Cons--

Cannot keep up with the day of the week (everyday is a weekend) That might go under the Pros.
Miss the great people from work.
Wish we had the money to retire 10 years ago when we were younger.

I tried to find more Cons but could not think of any. Life is good.

 

[iloveyoga]

So far, after 1.5 months of ER no issues at all with me. However, DH has his moments and his adjustment period is taking more time.

I had many plans in place to get the house ready to sell when we retired. All the plans are on hold until next year when we decide where to move. No hurry, no worries as the structured plans and stress melted away.

Pros---

Sleep so much deeper
Able to plan small mini trips for activities (Plans booked through November)
Cycling and hiking in the woods (found a local 6 mile trail in the woods)
Started back trail running
Exercising 5-6 days a week
Cooking and eating more healthy at home
Camping during the week when most people work (great campsites)
Paid health insurance premium through December (while working) so no money worries this year
No longer feel stress from dealing with job
No longer have to deal with corporate BS and people
No longer deal with structure
Having fun and enjoying life

Cons--

Cannot keep up with the day of the week (everyday is a weekend) That might go under the Pros.
Miss the great people from work.
Wish we had the money to retire 10 years ago when we were younger.

I tried to find more Cons but could not think of any. Life is good.

This is a great list! I keep my Garmin (fitbit) on to remind me what the date is when I need to know. And just to keep on track I will say it out loud. Today is Friday, August 11 and I woke up in beautiful Breckenridge, CO.

 

[supernova72]

This is a great list! I keep my Garmin (fitbit) on to remind me what the date is when I need to know. And just to keep on track I will say it out loud. Today is Friday, August 11 and I woke up in beautiful Breckenridge, CO.

OP here. +1. I do lose track of days which is not a bad thing. By far my favorite day of the week is Monday. This should be on the surprise list. Cheers.

 

[Danmar]

Been 11 years for me. Transition was a little rocky especially during the financial crises. But things always seem to have a way of working out for the best, Hardly think of work at all anymore. Never bored. Best thing is freedom and control along with getting healthier with more sleep and exercise.

 

[brett]

Same here. It has been five years. Seems like such a very long time ago. I seldom think about it and very infrequently hear from former colleagues. But, my transition was welcome and it was long awaited. I was not taken by surpirse and we had tentative plans in place.

There was on one thing that surprised me with some of my colleagues. Our firm, our industry had gone through 20 years of downsizing, contracting out, offshoring. We had all been involved personally in laying off, transitioning, whatever you choose to call it managers senior individual contributors.


Yet when a few of them were laid off it seem to came as such a big surprise to them. . It was a thought they thought themselves immune because of their respective management positions. I thought that this was very strange. They often retained a great deal of bitterness and I suspect this hindered them in their subsequent career searches.

 

[supernova72]

Been 11 years for me. Transition was a little rocky especially during the financial crises. But things always seem to have a way of working out for the best, Hardly think of work at all anymore. Never bored. Best thing is freedom and control along with getting healthier with more sleep and exercise.

Going to the gym at 1pm vs 5:30pm is definitely a different crowd. A few months into ER one guy looks up and says "did you retire or something?" Ha. Turns out he also had recently been downsized.

It might take another year before I feel OK with saying "I'm retired".

 

[supernova72]

Same here. It has been five years. Seems like such a very long time ago. I seldom think about it and very infrequently hear from former colleagues. But, my transition was welcome and it was long awaited. I was not taken by surpirse and we had tentative plans in place.

There was on one thing that surprised me with some of my colleagues. Our firm, our industry had gone through 20 years of downsizing, contracting out, offshoring. We had all been involved personally in laying off, transitioning, whatever you choose to call it managers senior individual contributors.


Yet when a few of them were laid off it seem to came as such a big surprise to them. . It was a thought they thought themselves immune because of their respective management positions. I thought that this was very strange. They often retained a great deal of bitterness and I suspect this hindered them in their subsequent career searches.

OP here. I was raised in a family where my dad had worked at the same aerospace Megacorp as an engineer for 33 years. Secretly I wanted to match his time and retire on my own terms.

So call me loyal to a fault. If I had two years to plan for it yes maybe getting laid off would be easier. But never have been a getting notice prior, it was still surprising and also a bit embarrassing. It's a bit hard to describe unless you go through it yourself. Cheers.

 

[eytonxav]

Good points. I'm a muscle car enthusiast and have been restoring a 1972 Nova. It's a driver not a show car but fun to cruise in. I've considered getting lift in my garage and making room for one more project (or selling the Nova).

View attachment 26548

I like your car. That can certainly give you a way to meet others and work on something you enjoy. What engine/transmission do you have? I still to this day miss my 67 SS396 Chevelle that I owned as a teen.

I took an early retirement package when I was 54, and only had about 30 days to accept or not. My former mega corp went thru a merger of equals 3 years earlier and the atmosphere turned toxic, so the decision to retire was easy for me. However, I was not mentally prepared to be retired and found I missed the work life so went back to work for another company. I think knowing how you want to spend your time is very important, especially when you make a change without much time to contemplate your new found freedom.

 

[Danmar]

Going to the gym at 1pm vs 5:30pm is definitely a different crowd. A few months into ER one guy looks up and says "did you retire or something?" Ha. Turns out he also had recently been downsized.

It might take another year before I feel OK with saying "I'm retired".

For sure. I like doing my workouts in the late morning. My goal is 25 per month but usually get around 22-23. At my last physical, doc told me my fitness level
( evidenced by VO2 capacity) was off the charts for a guy my age. This has been a huge benefit of retirement.

 

[MarieIG]

Is it a squirrel gun? Instead of buying the tomato cages like everybody else I stuck an old trellis in the grow box, providing the squirrel with a nice sturdy ladder to get ALL the tomatoes. My grandfather was a farmer! I am a disgrace to his name.

Wait ... next year, MA will have it's pot regulations in place and I can plant pot.

OP, as you can tell from this thread, there is a new world awaiting you where you have the time to spend on completely frivolous summertime activities. You should see my tan.

Please post next year and let us now how the squirrel behaves after he eats the pot garden

 

[supernova72]

I like your car. That can certainly give you a way to meet others and work on something you enjoy. What engine/transmission do you have? I still to this day miss my 67 SS396 Chevelle that I owned as a teen.

I took an early retirement package when I was 54, and only had about 30 days to accept or not. My former mega corp went thru a merger of equals 3 years earlier and the atmosphere turned toxic, so the decision to retire was easy for me. However, I was not mentally prepared to be retired and found I missed the work life so went back to work for another company. I think knowing how you want to spend your time is very important, especially when you make a change without much time to contemplate your new found freedom.

OP here. There were two years towards the end of my career that were pretty toxic as well. I switched positions but it was too late to fix the "performance review" from a manager 1700 miles away.

On the car thing I've had the Nova since 1989. It was a gig rig so to speak and I paid $600 for it. This is a 350/350 car that I've done some bolt on stuff too. It's not a show car or a race car but does pretty well in melting the tires if one desires (hey that rhymes).

 

[supernova72]

For sure. I like doing my workouts in the late morning. My goal is 25 per month but usually get around 22-23. At my last physical, doc told me my fitness level
( evidenced by VO2 capacity) was off the charts for a guy my age. This has been a huge benefit of retirement.

Working out is very important to me and yes I'm on average about 6 days a week. Yoga is something I want to get back into but for some reason can't find the time. Ha.