Class of 2019

[kfsinc]

Found out last week that my job at MegaSoftwareCorp has been eliminated. I have till Mid June to find another job, or take the package. SERIOUSLY thinking of joining the class of 2019! I'm almost 64 and have the FI portion down (I think...), it's the RE that's scaring me. DW is 62 and terrified -- of me being home all the time ;-). She may keep working...

[bUU]

Quote:

Originally Posted by kfsinc Found out last week that my job at MegaSoftwareCorp has been eliminated. I have till Mid June to find another job, or take the package.

Why can't this happen to ME?

[ugeauxgirl]

Quote:

Originally Posted by kfsinc Found out last week that my job at MegaSoftwareCorp has been eliminated. I have till Mid June to find another job, or take the package. SERIOUSLY thinking of joining the class of 2019! I'm almost 64 and have the FI portion down (I think...), it's the RE that's scaring me. DW is 62 and terrified -- of me being home all the time ;-). She may keep working...

It will be scary next year too.

[Shabby]

Quote:

Originally Posted by kfsinc SERIOUSLY thinking of joining the class of 2019!

Come in, the water is great!

[gamboolman]

kf - I am planning on going at end of the year at age 60.
Going to 64 would make me want to shoot myself in the head......but that's just me.
And a package...come on kf !! If your able - GTFO now, but that's just me.
We are planning to go to pasture at the end of this year and I cannot wait to spend every remaining day on this mortal earth with ms gamboolgal until the first one of us steps off into eternity.
I hope you are able to take the Package and retire sir.
All the best
gamboolman....
Lifes A Dance And You Learn As You Go...

[camfused]

Quote:

Originally Posted by kfsinc Found out last week that my job at MegaSoftwareCorp has been eliminated. I have till Mid June to find another job, or take the package. SERIOUSLY thinking of joining the class of 2019! I'm almost 64 and have the FI portion down (I think...), it's the RE that's scaring me. DW is 62 and terrified -- of me being home all the time ;-). She may keep working...

What specifically is scary for each of you? It sounds like you have the FI part ducks lined up, so I guess it is a "what will I do with myself" thing.

I FIREd in January of this year, at 59.5. I was a software engineer too. I had/have a plan for the financial side of things, but had no plan at all for what I would do with myself. I was thinking that I might keep coding for fun, on open source stuff or whatever. The first thing I did when I retired was set up a development Mac workstation with dual monitors, IDEs, etc, like I had at work.

Well, it turns out that I have no interest (so far) in anything to do with software development. Chores/projects around the house, hobbies, and a little volunteering keep my busy. I picked up playing the cello again, after a 41 year break (but that's another story), and am having a great time.

So, jump in my friend, the water is real nice! I occasionally meet up with work colleagues and listen to them complain about work stuff and commuting etc, and I just sit there and smile. They are starting to learn that we can talk about non-work things too at lunch.

[atmsmshr]

Now officially in the 2019 class with notice given and last day of work 20 June!

Adding on 4 weeks vacation so the retiree date is 1 August by Mega.

[1242Vintage]

Done!!!!

I started working for my former employer on June 15, 1987 and punched out for the last time on May 1, 2019, at age 55.

Feels a bit odd at the moment as I make this adjustment. But really enjoying the lack of work stress and the freedom of being outdoors gardening, hiking and biking anytime of day.

[Lawrencewendall]

Posted in the "What Did You Do Today". Thursday (30 May) was my last day of commuting. I'm on the books 'till 8 June but the rest of the time is taking leave. Hope the water is fine because I'm taking the plunge!

[Perryinva]

Quote:

Originally Posted by Perryinva Just when you think it can’t get better...I just found out that my ex of over 25 years ago passed away earlier this year and had never filed for her legal portion of my pension. And while I don’t wish early demise for anyone, especially from cancer, if the circumstance happens, it happens. Since I had not retired yet, I just had verified that that portion of the annuity reverts back to me. Not a lot, comparatively, ($300/mo) but any added buffer is always welcome! 8 working days left!!!

And I am now officially F I R E. So far the water feels great. It is a very odd feeling, I admit, and 61 is not even really early. I have lots to do and enjoy. I know a new tile backsplash is high on DWs list.

[Bruno]

My plan was to give Company notice early july and take my over 5 weeks of PTO. This would push me to my 66 BD on Aug. 5. I visited with HR on the phone about retirement and they told me i cannot use my PTO to extend my employment. They will pay me for it. I didn't really want to be hit with all the taxes on final check. HR does not care they are there for the company protection. The PTO is mine and not sure why i still cannot do it.

[NXR7]

Quote:

Originally Posted by Bruno My plan was to give Company notice early july and take my over 5 weeks of PTO. This would push me to my 66 BD on Aug. 5. I visited with HR on the phone about retirement and they told me i cannot use my PTO to extend my employment. They will pay me for it. I didn't really want to be hit with all the taxes on final check. HR does not care they are there for the company protection. The PTO is mine and not sure why i still cannot do it.

Be happy. I found out after I turned in my notice that the company had changed their policy as of January and no longer pays out any accrued PTO. The change actually says they no longer pay accrued "sick time". I was salaried exempt so I didn't really have such a thing and when I questioned that, HR said the policy was supposed to say PTO. I lost seven days that I had in my planning. So I don't even have to worry about those taxes.

I, too, am almost 64 and left a year earlier than planned and my stress levels have dropped through the floor. I was terrified of being without a paycheck for the first time in forty six years but I've been "permanently unemployed" for four weeks now and wondering why I didn't do it earlier. Tomorrow is promised to no one.

Why was my stress so high? I worked in cybersecurity and I had to look after all of that software that people like kfsinc, camfused and others wrote.

Ray

[camfused]

Quote:

Originally Posted by NXR7 Why was my stress so high? I worked in cybersecurity and I had to look after all of that software that people like kfsinc, camfused and others wrote. Ray

Yeah, but mine did not have ANY bugs in it.

[nobody]

gonna move to Class of 2020, golden handcuffs got very heavy, but at least it will be Jan 3, 2020. Off on the Jan 1, take floating holiday Jan 2 and back in the office for good on Jan 3.

[NXR7]

Quote:

Originally Posted by nobody gonna move to Class of 2020, golden handcuffs got very heavy, but at least it will be Jan 3, 2020. Off on the Jan 1, take floating holiday Jan 2 and back in the office for good on Jan 3.

You wrote that like it's a bad thing.

Will it get you all of your accrued vacation for 2020? Or perhaps that's what you meant by "too heavy". A former employer added a bunch of stock if you were employed on Dec. 31st. Even the retiring execs left on Jan. 2nd for those reasons and to get full health care through January.

Ray

[nobody]

Quote:

Originally Posted by NXR7 You wrote that like it's a bad thing. Will it get you all of your accrued vacation for 2020? Or perhaps that's what you meant by "too heavy". A former employer added a bunch of stock if you were employed on Dec. 31st. Even the retiring execs left on Jan. 2nd for those reasons and to get full health care through January. Ray

Vacation time is accrued each pay check. Company I work for has a really really good ESOP and pay good end of the year bonuses, no partial year bonuses. By leaving in Jan of 2020 I get dividends and stock price increase for 2020 and then sell stock in March 2021 when 2020 stock price is evaluated. Probably around 250k for my ESOP portion, and bonus probably 60% of my base pay.

[nhcycling]

Oh I how wish my Mega Corp would offer some sort of package I’ll be the first in line!

[Backpacker]

Meeting Friday with fee only FA, that we've used a few times over the past decade to get another set of eyes on our plan. I'm nearly certain that 2019 will be the end of my 38 year career in banking. I'll be 55 in July, would like to be done during summer so we can enjoy the nicer weather. I've been very blunt about asking to have my position eliminated, can't seem to get any traction on that.

[LimaPop]

Quote:

Originally Posted by Bruno My plan was to give Company notice early july and take my over 5 weeks of PTO. This would push me to my 66 BD on Aug. 5. I visited with HR on the phone about retirement and they told me i cannot use my PTO to extend my employment. They will pay me for it. I didn't really want to be hit with all the taxes on final check. HR does not care they are there for the company protection. The PTO is mine and not sure why i still cannot do it.

Sounds like you should just be on PTO till its gone, and then give them a weeks notice ?

[HI Bill]

Quote:

Originally Posted by Bruno My plan was to give Company notice early july and take my over 5 weeks of PTO. This would push me to my 66 BD on Aug. 5. I visited with HR on the phone about retirement and they told me i cannot use my PTO to extend my employment. They will pay me for it. I didn't really want to be hit with all the taxes on final check. HR does not care they are there for the company protection. The PTO is mine and not sure why i still cannot do it.

Yes, they don't want you on the payroll, as they contribute towards your health insurance, payroll taxes, etc. They also may consider you a security risk once they know you're leaving.

You can ask your payroll department to adjust the withholding on the PTO so that it's not a greater percentage than usual. I did this when I left may last company, and I was being paid out for some 640 hours! I'd just take off the five weeks (enjoying free insurance), then give notice (IMHO, it wouldn't have to be 2 week's at that point)!