How much notice did you give to ER?

[cj]

Hi, all,

I'm mostly a lurker, and I really have fun reading about other people going through the experiences I hope to have soon! 

I am 50, and hope to ER in just under 2 years.  I as wondering - when did you tell your employer that you were planning to leave?  I have a really great job, and my boss is the BEST.  But the commute is long, the stress can be high, and it's a lot of responsibility.  Plus, DH & I have put ourselves in the position to start taking it easy really soon.  I have already told my boss my date - May 1, 2007.  I've been joking about retiring in "3 years" then in "2 years" for a while now, and the people in my group keep teasing me about it (yeah, right - you'll never leave!).  So I just picked a date - "after" bonuses come out, etc.  I wrote it on the boss's white board, as a reminder.     Every so often, she'll try to convince me to stay longer, and it's kind of a running joke.  (She asks for a longer contract; I tell her if I have to sign a contract, I'll need a lucrative signing bonus.  If things happen to be going badly on a given day, I'll threaten to move the date, etc.  We do have fun with it.  I still don't think that she thinks I'm serious.)

The thing is, the job I am in is very specialized, has a really long learning curve, and we are short-handed as it is.  So I feel really safe (and responsible) giving 2 years' notice.  But how did the rest of you handle it?  Have you been able to "ease into it"?  Another perk where I am - I've already cut back to 4 days per week. 

It is fun seeing the light at the end of the tunnel.  Not sure how I'll feel as it gets closer...

Thanks to all of you for sharing your experiences!!

CJ

 

[REWahoo]

Hi, all,

I'm mostly a lurker, and I really have fun reading about other people going through the experiences I hope to have soon!

I am 50, and hope to ER in just under 2 years. I as wondering - when did you tell your employer that you were planning to leave?

This is my story:

http://early-retirement.org/forums/index.php?topic=2253.msg35714#msg35714

REW

 

[razztazz]

One (1) full year

 

[riskadverse]

My employer gave me a project that was destined to fail.  Not wanting my last project to taint my whole career, I gave them 2 months notice, knowing they would have to cancel that project and go a different direction which would obsolete my job.  Everything worked out for the best - I retired, they saved money, and the doomed project never got off the ground.   

 

[Mr._johngalt]

Hi, all,

I'm mostly a lurker, and I really have fun reading about other people going through the experiences I hope to have soon! 

I am 50, and hope to ER in just under 2 years.  I as wondering - when did you tell your employer that you were planning to leave?  I have a really great job, and my boss is the BEST.  But the commute is long, the stress can be high, and it's a lot of responsibility.  Plus, DH & I have put ourselves in the position to start taking it easy really soon.  I have already told my boss my date - May 1, 2007.  I've been joking about retiring in "3 years" then in "2 years" for a while now, and the people in my group keep teasing me about it (yeah, right - you'll never leave!).  So I just picked a date - "after" bonuses come out, etc.  I wrote it on the boss's white board, as a reminder.     Every so often, she'll try to convince me to stay longer, and it's kind of a running joke.  (She asks for a longer contract; I tell her if I have to sign a contract, I'll need a lucrative signing bonus.  If things happen to be going badly on a given day, I'll threaten to move the date, etc.  We do have fun with it.  I still don't think that she thinks I'm serious.)

The thing is, the job I am in is very specialized, has a really long learning curve, and we are short-handed as it is.  So I feel really safe (and responsible) giving 2 years' notice.  But how did the rest of you handle it?  Have you been able to "ease into it"?  Another perk where I am - I've already cut back to 4 days per week. 

It is fun seeing the light at the end of the tunnel.  Not sure how I'll feel as it gets closer...

Thanks to all of you for sharing your experiences!!

CJ

I did not have a problem with discussing this with my boss, as I was the boss.
However, I did have a similar situation which turned out badly. When my youngest was in high school, I told her many times that I was no longer
in a position to pay for much of the college costs. (not wanting to
worry my daughter). She ended up going to a very expensive school
and I ended up in court. DW opines that I should not have used any
humor, but sat my daughter down and given her the facts, straight on.
Not sure it would have made any difference, but sometimes people think
you are just kidding around when in reality you are only trying to soften the message.

JG

 

[retire@40]

This is another worry I don't have since I am self-employed.

But I think if I were working for a big company I would give no more than the standard 2 weeks, and that's only if they were nice to me during my working years.

 

[REWahoo]

When I did give notice, I told my boss the reason I was retiring was due to an acute medical condition known as "Anal Glaucoma" - - I could no longer see my *ss showing up for work.

REW

 

[Danny]

When I did give notice, I told my boss the reason I was retiring was due to an acute medical condition known as "Anal Glaucoma" - - I could no longer see my *ss showing up for work.

REW

That must have gone over like a Loud *art in church!

DanTien

 

[razztazz]

I still tell people that I had to retire "for medical reasons".

I was SICK of working!

 

[TromboneAl]

Good one, REW.

CJ,

Idle thought here: Something I see in your post is that you seem to have a lot of fun with your friends at work.  So make sure to cultivate your outside-of-work friends too, so you can still joke around after retirement.

 

[Mountain_Mike]

I made the mistake of talking to a co-worker about my plans to retire "within 5 years." (Within 2 or 3, actually). She went straight to the boss, who called me into his office. I told him I had just been dreaming about the 5 years, and 10 was more like it, since I had a 9 year old. This was totally convincing to him, since having a younger child is something DW points out as an obstacle to ER, but I don't see it that way; there is nothing magic about working...having an income is what is important.

 

[cj]

Trombone Al - good point. I don't have any trouble staying busy, and have a LOT going on with church friends, etc. Not so with DH, who doesn't know what to do with himself. He already retired once (Nov. 2002), then got another job for a while, then got called back for 6 months at the company he retired from. Now he's back to being retired, and is not very good at structuring his day.

So I know exactly what you mean!!

CJ

 

[Danny]

I made the mistake of talking to a co-worker about my plans to retire "within 5 years." (Within 2 or 3, actually). She went straight to the boss...

What a weasel....I've know them also.
I kept my mouth shut... gave 2 weeks notice...took a vacation..came in last day
and kissed and hugged favorites good-bye and punched and choked the weasels.

DanTien

 

[Mountain_Mike]

Dan,

Tell me about it.... over the years I have learned that people you can really talk to are few and far between. I am reminded of a saying I once heard, "Three can keep a secret if two of them are dead."

So now, I keep my plans completely to myself. Of course, if they put two and two together, they would see how I've ramped up my tax deferred savings and see some kind of indication there...but they don't.

I have never understood people who have retired and come right back as consultants. When I walk out the door, that will be "it."

 

[JonnyM]

Seven Years.

Of course by the time I got close enough to be taken somewhat seriously, i.e. quite recently, all the Management people above me have changed. So you could say the concept is new to them, in reality call it One Year Plus.

 

[SteveR]

I took ER and gave two weeks notice and did not even talk to the jerk who was named as my new boss ( I found out in a company-wide emaile notice).  I told his boss who I used to work for.  He stormed into my office a few days before my last day and asked me if I was ever going to tell him I was leaving?  I told him I was giving him the same consideration I was shown when I was moved to work for him.  I left at lunch on my last day; said goodbye to a few folks I liked and then Elvis just left the building.

I am planning on retiring for real August 1, 2007.  My boss only knows I am planning on leaving in the next 2-3 years.  During my last performance evaluation my boss said we needed to work on a Develpment plan for me.  I told him he could write one up to double my 401(k).  That is all the development I want or need.  He just stared at me with the deer in the headlights look.  
We have discussed this several times already.  I don't want nor do I seek any promotions; already turned down his job twice.  I do not want any additional responsibilites...I am not trying to prove anything to anybody anymore.  My career is on the downhill side.  I don't want to further improve my skills.  I have 32 years in the business what else is there to learn that I care about?  I am sick and tired of being in MegaCorp and being in management with all the BS one has to swallow along the way.  I don't buy the company crap anymore and people know it.  I am persona nongrata in many company meetings since I don't fall in line marching with the rest of the lemmings.  I think I am seen as some kind of threat but they can't get rid of me because they know I do a great job at what I do and that replacing me would be a pain and getting rid of me could cause a lawsuit as they have no grounds.  

I love being this situation.   I can leave anytime after Oct. 7 and I won't lose a thing except my paycheck.  I can live on what I have invested but choose to work because my DW is chained to her pension and health insurance for two more years of service.  It is a nice place to be.  

I will give them a month's notice when I do leave but by then they will all know it anyway as my office will be cleaned out by then.   8)

 

[retire@40]

...I am not trying to prove anything to anybody anymore...

That's when you know you made it.

When I get calls from marketing people who tell me how they can refer business to me, or promote my business, or sell me marketing material at 75% off rates, I tell them I don't want anymore business and I can't handle what I already have.  It's completely true and leaves them speachless for a few seconds before they hang up.

I don't need to prove anything to anybody anymore either, and it's a good feeling just to sit back and keep quiet while listening to other people spew out about how great they are and how they can make a difference at their job.  Good luck people, I am going to water my tomato plants.

 

[KB]

I gave 2 weeks notice and they asked me to stay for 3 weeks to be sure my work was transitioned to someone else.
Since I had a week vacation scheduled during my final 2 weeks, I was willing to stay for the third week.

It worked out fine. I got paid for the third week and really didn't work much. Mostly got all the details ironed out with my manager and got all my final expense requests submitted.

On my next to last day, I received my final paycheck and my termination papers to sign. On my last day, I fedexed my laptop, badge and termination papers back.

As a follow up. They screwed up my termination and left me employed which means I was receiving all benefits (except pay) free. OOPS. Too bad I called to find out where my Cobra info was. They didn't send it because I showed employed. Since I was approved for an individual health insurance policy, now I need to call and cancel Cobra and I'm done with them for good. Oh, guess I better pay for the cobra for July...I guess they're going to bill me.

 

[dougdo]

About negative year and a half.

I don't think I realized I was ER'd until about a year and a half after my last job. It was at that point I realized I didn't want another corporate job and didn't really have to.

 

[RE2Boys]

They gave me two weeks notice, so I took it.

Actually, that was how much notice I had that their early retirement program (a downsizing initiative) would end. I had been eligible for ER for about 2 years but only when the option was being taken away did I finally make the gut wrenching decision. With 2 young boys, I wasn't sure I was financially ready, even though I had a good defined benefit plan with health insurance.

That was 5 years ago. Consulted for two years part time and now work part time in the dog days of winter to keep myself intellectually plugged in.

Not what most consider "retirement". With the young boys, not as easy to travel due to school and soccer scheduling.

RE2Boys

 

[Mr._johngalt]

Jeez KB, I wonder how long your paychecks would have continued
if you had not called? The mind reels...............

JG

 

[Martha]

I gave 6 months notice that I did not wish to serve as managing partner of my firm anymore. Three months later I told my board that I wanted to go part time once my term was up as managing partner. We spent three months negotiating a compensation arrangement.

I just gave a mid year report to the managing partner about how my part time arrangement is going and indicated I wish to work (meaning bill) even less hours. We will see how it is received. Current plan is probably to stay to mid year next year. I will need a number of months to phase out. I have a lateral hire new associate working with me, which will help the phase out.

My goal is for all to go smooth for clients and firm, and if Mr. Apocalypse is right and all goes to heck, I can keep plugging along here indefinately. But I hope to be out by next May or June.

Billable hours so far this month: 42.

 

[tozz]

Five months, due to the window that my employer identified for retirement dates.  That is, I'm working the maximum amount that I can before the early-out options closes. 

There won't be much to transition because the department that we oversea has been contracted out.  I don't see that the government is really going to save anything in the long run, but contracting out fits with the philosophy of the administration. 

 

[KB]

John

I wasn't getting paychecks......I was getting health insurance benefits. I just didn't know it.

 

[sgeeeee]

Whether it was to ER or just to change jobs, I figured that the amount of notice I would give depended on how much I trusted my management. When I trusted them not to take offense and retaliate in some way, I gave about a months notice. When I did not trust them, I gave two weeks. More than a month seems pretty risky to me. Imagine, for example, that it is late February 2000. You give two months notice that you are going to ER and find by late April that your net worth is way down and dropping fast. You may think that staying around -- at least until the economy stabilizes -- will allow you to sleep better at night, but you've already given notice, trained your replacement and collected the gold watch.