How to leave current job?

[DogsBark]

Looking at Firecalc I should be financially able to retire now at age 50.

My current employer has me on a 90 day probation. I most likely will be let go in two weeks. Should I wait and be fired and collect some unemployment and then retire or...

Wait and see, maybe I won't be fired, collect my bonus, a few more paychecks... or

Hand in my resignation and quit on my own terms?

It's a 20K delta, between resigning and being fired. I just hate the thought of being fired instead of retirement on my terms.

Anybody go through this?

 

[Mr._johngalt]

Looking at Firecalc I should be financially able to retire now at age 50.

My current employer has me on a 90 day probation.  I most likely will be let go in two weeks.  Should I wait and be fired and collect some unemployment and then retire or...

Wait and see, maybe I won't be fired, collect my bonus, a few more paychecks... or

Hand in my resignation and quit on my own terms?

It's a 20K delta, between resigning and being fired.  I just hate the thought of being fired instead of retirement on my terms.

Anybody go through this?

I have but I had an advantage..............I never worried about being fired
and I loved collecting UC benefits. Thus, it would an easy decision
for me.

JG

 

[LovesLife]

Heck to me it sounds like if your fired and get to collect unemployment then you get to have the last laugh.

It's all a matter of perspective.

Good luck with your decision.

LL

 

[JDARNELL]

If you know you may be leaving either way I say hang in there and take their $$$.

JDW

 

[bosco]

Go for the UC!!

What have you really got to lose? Who do you need to impress? The bozos that might fire you?

Is there any reason you can't retire on your terms AFTER collecting the UC? Sounds like the terms are a bit better--to the tune of 20k.

 

[vic]

Don't hand in your resignation. Why would you do so? The only thing you get out of it is a 5 minute feeling that you told them to shove it instead of they told you. Not worth the 20K. Once you are out of the door, nobody remembers you even a week later. Take the unemployment and free money!

Vicky

 

[Martha]

Whe I was in management I sometimes agreed to allow employees to save face by resigning instead of being terminated. I agreed not to object to their collection of unemployment benefits.

Don't forget that to get UE benefits you need to be actively looking for work.

 

[retire@40]

My current employer has me on a 90 day probation.

Probation? Sounds more like you're in jail than at work.

Anyway, I would do whatever gives you the maximum dollar benefit. I quit a couple of jobs, but I never got fired and I never collected unemployment benefits in my life and probably never will, but I know I would enjoy getting free money.

Wow, being at work for a "boss" and being put on "probation". If that doesn't give you the heebie-jeebies, I don't know what will.

 

[brewer12345]

If it were me, I would stick around, hoover up all the cash I could get, and not worry too much about what my former employer thought since I wasn't planning on finding another job anyway. There is a famous quote by someone whose name escapes me that I think really applies here:

"Living well is the best revenge."

Have you thought about how you will spend your time once you retire? That'd be of more interest to me that what my former employer thought.

 

[uncledrz]

No question.
Stick around, wait out the probation. If they are going to fire you, let them do so and collect the unemployment.

If you need a good recommendation from them, for whatever reason, the negotiate that, but otherwise, go for the unemployment.

Note: winter is a good time to be on unemployment, I hear its warm and sunny in Florida!
Uncledrz

 

[Mr._johngalt]

Don't forget that to get UE benefits you need to be actively looking for work.

Technically yes, but so many people "work" around this it's almost a joke.

JG

 

[SteveR]

It sounds like management has you in their sights. Being on a 90 probation usually means that you are expected to "improve" whatever they see as negative in your job around to 100% positive in that time period or they can then fire you. Most employers are pretty cautious about firing people because of labor relations lawsuits. They generally have to take several months to build a case around you that will hold up in court. The only way they can do this is by documenting several instances of failue to follow work expectations. This works both ways however, since this also give you time to consult with a lawyer and to counter document their actions against you. If they have a valid case then you are screwed. If they have a weak case then you may have some recourse but only a lawyer can tell you that or not.

As for the money....what is the nature of the $20K delta? Is this a sure thing or just a possibility if you make it for the full 90 days? Do you want another job or do you plan one ER? What you do will be dependent on what you want to do from here on.

 

[maddythebeagle]

Technically yes, but so many people "work" around this it's almost a joke.

Yes, just apply for a job at "Vandalais Industries". Come to think of it, George had several times where he purposely got himself fired. Maybe that is a good plan for all that are thinking of FIRE to get the "20k delta".

 

[justin]

How one might get around the "actively searching for work" requirement that everyone abuses. Email two resumes a week to potential employers and act like a jack-ass on the phone with potential employers in the event they call to schedule an interview. Guaranteed way to never get hired anywhere.

 

[malakito]

Or apply for jobs that pay twice what you make now and for which you are clearly not qualified. They almost certainly won't hire you, but if they do you get double the money!!!

malakito

 

[Nords]

Wait and see, maybe I won't be fired, collect my bonus, a few more paychecks...

From the other posters' experience to date, you lose nothing by waiting. One of the recent ERs was ready to hand in his resignation when they let him go with a nice severance package.

You'll either survive this experience and retire afterward on your own terms, or you'll enter ER a little earlier with more cash in your pocket. Don't get hasty!

 

[sgeeeee]

. . .
Don't forget that to get UE benefits you need to be actively looking for work.

While this is true in some sense, it doesn't mean what sensible people might think it means. In order to have an enforcible law, "actively looking for work" has to mean something very specific. It turns out that in most states it means you have to send out two resumes or talk to a couple of potential employers each week. You get to choose who to talk to or where to send the resumes.

In reality, the only check on whether you do this or not is your answer to a question from the authorities each week. Many states make the questions available to you over the internet or via an automated phone system. So once a week you have to call or log on and say "send me the money." My guess is that a lot of people don't even send out two resumes and simply lie. As far as I can tell, states do nothing to try to discover the truth. It probably would cost them more to expose fraud than it costs them to simply pay the benefits.

 

[Brat]

While you are pondering what you expect to be your exit start gathering names and contact information of those individuals you may want to use as references in the future.

Similarly, if you think you will need information from your office for employment leads gather that now.

Make a copy of 'thank you's, and 'good job' documents and the like.

Plan on the fact that just before they hand you termination notice they will lock you out of the network.  This is a normal security action, it has nothing to do with your character.. but you won't be able to get to your address book.

Take home personal documents, disks, that are personal property.

Address performance issues if you can or care to. OP:

My current employer has me on a 90 day probation.  I most likely will be let go in two weeks.

 

[Nords]

Address the performance issues.

What "performance issues" would an early retiree give a shi! about?

Oh, I see, you mean like "have a good attitude." Sure.

 

[Jarhead*]

What "performance issues" would an early retiree give a shi! about?

Oh, I see, you mean like "have a good attitude."  Sure.

Nords:  Just off the top of my head, there are quite a number of "performance issues" to contend with for early retirees:

Maintaining a low handicap in golf,
Choosing the right "pattern" for fly-fishing,
and last, but not least, there is a little blue pill that takes care of the most important "performance issue". (Although, this may be redundent, as Brat may have already addressed this in her post. )

 

[Mr._johngalt]

Nords:  Just off the top of my head, there are quite a number of "performance issues" to contend with for early retirees:

Maintaining a low handicap in golf,
Choosing the right "pattern" for fly-fishing,
and last, but not least, there is a little blue pill that takes care of the most important "performance issue". (Although, this may be redundent, as Brat may have already addressed this in her post. )

Jarhead, I am going to add you to my FIRE Forum heroes list.
Send me a PM if you want to join John Galt's Rangers

JG

 

[vic]

I got another two weeks to go on my job. I almost like going there now. I don't do anything, I surf, run errands and all sorts of other personal stuff. I make sure my face is seen some time before lunch and after lunch. Ranking & rating, performance and deadlines - shove it all!

I was told my job ceases to exist because there is nothing left to do for me any more. No problem, I will gladly take the three months of pay and 6 months of unemployment bennies. Oops, they just found out that I am the only one who knows how to do certain things. The continuous stream of 'urgent' emails, pages, phone calls, one-on-ones and meeting requests on my latest projects are all ignored answered with a very friendly 'I do the best I can' and it is 'on top of my list'. Geeh, can't they figure out that four months of 'urgent' stuff should not be piled on someone who is walking out in two weeks and has another 30 hours of vacation time to burn before.

Until I am walked out. I will have to pretend that I am performing/working otherwise I can still be fired according to the notorious documents in my grey folder that have been handed out generously lately.

Vicky

 

[Mr._johngalt]

I got another two weeks to go on my job. I almost like going there now. I don't do anything, I surf, run errands and all sorts of other personal stuff. I make sure my face is seen some time before lunch and after lunch. Ranking & rating, performance and deadlines - shove it all!

I was told my job ceases to exist because there is nothing left to do for me any more. No problem, I will gladly take the three months of pay and 6 months of unemployment bennies. Oops, they just found out that I am the only one who knows how to do certain things. The continuous stream of 'urgent' emails, pages, phone calls, one-on-ones and meeting requests on my latest projects are all ignored answered with a very friendly 'I do the best I can' and it is 'on top of my list'. Geeh, can't they figure out that four months of 'urgent' stuff should not be piled on someone who is walking out in two weeks and has another 30 hours of vacation time to burn before.

Until I am walked out.  I will have to pretend that I am performing/working otherwise I can still be fired according to the notorious documents in my grey folder that have been handed out generously lately.

Vicky

Vicky, it's been many many years since I went through this but I
remember it well. "Lame duckism" sucks, big time!

JG

 

[Mr._johngalt]

While this is true in some sense, it doesn't mean what sensible people might think it means.  In order to have an enforcible law, "actively looking for work" has to mean something very specific.  It turns out that in most states it means you have to send out two resumes or talk to a couple of potential employers each week.  You get to choose who to talk to or where to send the resumes.

In reality, the only check on whether you do this or not is your answer to a question from the authorities each week.  Many states make the questions available to you over the internet or via an automated phone system.  So once a week you have to call or log on and say "send me the money."  My guess is that a lot of people don't even send out two resumes and simply lie.  As far as I can tell, states do nothing to try to discover the truth.  It probably would cost them more to expose fraud than it costs them to simply pay the benefits.   

Could be!

 

[JDARNELL]

Vicky, it's been many many years since I went through this but I
remember it well.  "Lame duckism" sucks, big time!

JG

Interesting observation.  From time to time I go through this in the military.  I am kind of in one of them as we speak.  The organization reorganized about 3 weeks ago an since I am getting ready to deploy I wasn't really given a role.  No worries though.

Today one of the top guys in the organization said you can always tell when a guy is getting ready to leave for a while, he is doing a lot more PT, his run time is improving and the SLIC (self licking ice cream cone) of work just doesn't seem that important. 

Tomcat98