I think I've Made up my Mind

[FI FELLOW]

After much thinking and back and forth, it's looking like June1, 2022 will be the end of work for me, so less than one year to go. Actually, I will have 8 weeks of vacation time next year, so that translates to April 1 as the last day of actual work. The timing maximizes my retained stock and options without going another whole year.
Not that "early retirement" as I'll be 62 by then, but still before 65!

The holdback has been that I have a pretty prestigious position at my megacorp, the highest ranking technical person in the place (one of only two at my salary grade) and lead the technical community of scientists and engineers not as a manager but as a technical leader. Director's salary, bonus, stock grants with no direct reports to hassle me, no budgets to deal with, no HR issues. It's a pretty sweet setup, but I'm getting tired of it after 17 years in this role. I'm starting to lose my edge and my fire and it seems time to hand the reigns to someone else. I could go another few years, but why? Money is not an issue.

So, a big step for me. I haven't informed management yet and won't until early 2022, but I have to tell someone!

Let the countdown begin!

 

[JRon]

Congrats! Once the money issue is gone, the decision gets a bit easier.

 

[Bryan Barnfellow]

Congrats! It's always great to hear good news like this. The coming 10 months will be a breeze, I'm sure. When will you give notice?

-BB

 

[FI FELLOW]

Congrats! It's always great to hear good news like this. The coming 10 months will be a breeze, I'm sure. When will you give notice?

-BB

I'm thinking February, just after bonuses and stock awards arrive. Wouldn't want to prejudice their assessments before that...

 

[Jim59]

You can get more money, but you can’t get more time. A good decision to start your vocational freedom. I have the same thoughts and I’m the same age and quitting early May, just in time to enjoy the summer. I’ve lost my cutting edge, time to go and let someone else enjoy what has been a great career.

 

[FI FELLOW]

You can get more money, but you can’t get more time. A good decision to start your vocational freedom. I have the same thoughts and I’m the same age and quitting early May, just in time to enjoy the summer. I’ve lost my cutting edge, time to go and let someone else enjoy what has been a great career.

Cool, we can jump into the abyss together! ;-)

 

[MichaelB]

I'm thinking February, just after bonuses and stock awards arrive. Wouldn't want to prejudice their assessments before that...

Good idea.

 

[wmc1000]

Seems like a well thought out plan! Congrats in advance

 

[Dtail]

Congrats and you will enjoy this next stage of life.
Time>important than money. Ask anyone here.....

 

[braumeister]

The holdback has been that I have a pretty prestigious position at my megacorp

You can be assured that you have plenty of company here. Quite a few E-R members were in the same situation, so welcome and enjoy your countdown!

 

[FI FELLOW]

You can be assured that you have plenty of company here. Quite a few E-R members were in the same situation, so welcome and enjoy your countdown!

Great to hear. After spending years getting a PhD, finding the right company (it took 4 tries but 30 years and counting at this one), climbing up the ranks, researching and developing new technologies, and growing younger staffers it feels weird to think about not doing that any more. I do have some stimulating hobbies, though, and look forward to hitting the empty gym while the crowds are busy working!

 

[RetireeRobert]

I do have some stimulating hobbies, though, and look forward to hitting the empty gym while the crowds are busy working!

Good thinking and good plan. Congratulations.

 

[EastWest Gal]

You’ll find other retirees shopping and going to the gym during the quiet hours. There’s a lot of us around.

 

[big-papa]

After much thinking and back and forth, it's looking like June1, 2022 will be the end of work for me, so less than one year to go. Actually, I will have 8 weeks of vacation time next year, so that translates to April 1 as the last day of actual work. The timing maximizes my retained stock and options without going another whole year.
Not that "early retirement" as I'll be 62 by then, but still before 65!

The holdback has been that I have a pretty prestigious position at my megacorp, the highest ranking technical person in the place (one of only two at my salary grade) and lead the technical community of scientists and engineers not as a manager but as a technical leader. Director's salary, bonus, stock grants with no direct reports to hassle me, no budgets to deal with, no HR issues. It's a pretty sweet setup, but I'm getting tired of it after 17 years in this role. I'm starting to lose my edge and my fire and it seems time to hand the reigns to someone else. I could go another few years, but why? Money is not an issue.

So, a big step for me. I haven't informed management yet and won't until early 2022, but I have to tell someone!

Let the countdown begin!

Congratulations to you! It is very close to my expected date as well. My date was chosen because between Jan 1st and June 1st I have RSU's vesting, then no more for the remainder of 2022. So seems like a good point to pull the plug.

Likewise I have not and will not inform management until I am much, much closer to the date. I, myself, am part of the management chain so I will offer to stay up to 3 months to help find my replacement, if they're interested.

 

[Helen]

I do have some stimulating hobbies, though, and look forward to hitting the empty gym while the crowds are busy working!

If you don't mind sharing, what do you want to do in retirement?

 

[FI FELLOW]

If you don't mind sharing, what do you want to do in retirement?

Well, as I stated, continue my workout schedule for one; I'm pretty dedicated to my workouts and staying in shape. I have a hobby in electronics, specifically building vacuum tube audio equipment, so that will take some time. I like fast cars and own a 717HP Dodge Challenger Hellcat with a manual trans so I'll be sprucing it up and tooling around town in that. DW wants to move to a beach town and I want out of my high-tax blue state, so we'll be considering where that might be. We both like to travel and dine out so lots of that will be happening.

All in all I don't think I'll be too bored.

 

[Franklin]

You can be assured that you have plenty of company here. Quite a few E-R members were in the same situation, so welcome and enjoy your countdown!

Welcome, 3years ago, at 62 i announced retirement from a very prestigious
position at Mega. Exec committee level. Most thought I was nuts to say farewell
but like you I was loosing my edge and passion for the work. Left a few rounds of RSU's behind but figured that would be the case almost any year i exited . So, 3 years post and I have no regrets. Like most here you will know when it's time. And it is weird at first but that is normal. Sounds like you already know. Congrats on the nest chapter.

 

[Jim59]

The point that “you will know when it’s time” is very true. About 4 years ago I had the view I would go at 60, then when I maxed by DB pension (info received online based on salary) about 61, then when I got a written quotation which revealed a 10% increase for each of the next 2 years ( 2022 & 2023) due to final renumeration, another year. So all a bit flakey, with my decision.

However, out a long walk just pondering life and that moment arrived, it felt so good to make an irreversible decision. I have fixed on May 22. Will drop to part time until then, deferring taking pension to capture that final 10%, then it’s adios.
Will keep that news from management until year end.