Quitting cleverly?

[Cap_Scarlet]

So, I've become suitably pi55ed off that I am now thinking about quitting but i want to get the most out of it.

Simple terms are that i have a contact with six months notice (yes your read that right...6 months!) from the end of the quarter in which i hand in my notice. so technically if I resign on 1 January, effectively I am committed to 30 September.

However, its even more complex.

1. I am 52 and if I could wait until 56 I would get an early retirement pay off of one years salary ... but there's no way I can stay to 56.

2. I want to stay "friends" a I think I could consult for a couple of hundred hours per annum which would be a nice side gig.

So I am torn between getting out as quickly as possible and trying to negotiate my way out so that I get maximum pay off and future income potential.

How would you approach it?

 

[2017ish]

Are you ready/able to quit on June 30?

Sounds like you'd like to keep doing a bit of work for company, so don't know how clever you can really get. Assuming you didn't want to consult, what would be the hit from giving less than 6 months notice?

As for negotiating more exit $$, that is going to be company/job/you specific.

6 months isn't necessarily too bad--DW gave over two years (180 days required), and I gave just shy of that. So far it's been fine for us--although still 8 months to go ....

 

[pb4uski]

Just because your contract says 6 months doesn't mean that it needs to be six months... if you and your employer agree to an earlier out then both parties just agree to amend the contract if necessary. The nice part about that is you get to leave on good terms, but earlier than 6 months (assuming that you can negotiate an earlier out). Are you aware whether there have been such situations in the past?

Besides, since we don't allow involuntary servitude anymore, I'm not sure if the notice clause would be enforceable if you just stopped showing up for work, but your lawyer could tell you. If you're not competing with them I'm not sure what they could sue you for if you left early, but seek counsel.

You could always just start behaving badly and have them fire you if you really want out and decide that you don't care about burning bridges.

 

[W2R]

How would you approach it?

Here's how I would approach it.

1. I am 52 and if I could wait until 56 I would get an early retirement pay off of one years salary ... but there's no way I can stay to 56.

OK, so that is out of the question. I would not give it another thought.

2. I want to stay "friends" a I think I could consult for a couple of hundred hours per annum which would be a nice side gig.

Do you really want to retire, or do you want to continue to work for them? That's the question. I was offered a high dollar consulting job and didn't take it. I told a fairly high level person (with a friendly smile) that my agency didn't have enough money in the budget to pay what I would require as a consultant.

That was fun. But actually, I'm also glad that I did it because I knew that I could afford to retire and live nicely. I also knew that this was exactly what I wanted and I wanted it as soon as possible.

On the other hand, my self respect is important to me. If I was in your position, I would just submit my written resignation or retirement request, and then I'd pretty much lie low until I could leave.

 

[Options]

I try not to do anything when I'm pi55ed off, particularly anything with the possibility of having secondary as well as unintended consequences.

In the final year before I retired, I completely removed myself emotionally and psychologically from anything having to do with work. I often referred to myself as a hologram--there but not there. No matter what happened--and lots did happen--I just couldn't be triggered (besides, I was too focused on preparing for retirement to waste the energy). This advantage allowed me to approach my separation strategically, leaving all options open, and with a cool head. It was also nice to leave on good terms with people.

 

[sengsational]

I would create an elaborate fantasy that had another company who was ready, willing, and able to pay me 5 times what the current company was paying. I'd tell them that although I have this other job in- hand (they don't know it's fiction), but since I'm a principled individual, I will tough it out until the end of the contract. Then, for the six months, they treat you like gold, and you giggle the whole time. I'd call that clever!

 

[RobLJ]

Like you, I couldn't see continuing to work full-time. However, I'm still working part-time online, for the last 18 months, which has been an ideal scenario--I was able to resettle in Reno and haven't withdrawn anything from retirement savings, since I have 1/2 salary and DW still wants to work for 4-6 years, even though her new job is less than half her salary in Houston (she's fine with that).
However, consulting might just trap you in the same situation. I was very lucky; I stayed on for another 3 months to please my boss while DW set up in Reno, but "left" on good terms. I was not pissed off--just burned out and ready for a change, though.

 

[mystang52]

I try not to do anything when I'm pi55ed off, particularly anything with the possibility of having secondary as well as unintended consequences.

In the final year before I retired, I completely removed myself emotionally and psychologically from anything having to do with work. I often referred to myself as a hologram--there but not there. No matter what happened--and lots did happen--I just couldn't be triggered (besides, I was too focused on preparing for retirement to waste the energy). This advantage allowed me to approach my separation strategically, leaving all options open, and with a cool head. It was also nice to leave on good terms with people.

This described me, and my last w*rk situation, to a tee (in my case, though, it was more like 2 years ). And it worked out great for me, as I was offered a 2 day/week work-from-home consultancy. It was the easiest, most stress-free, money I ever made.
I second the suggestion of giving that 6 month notice and ask for a mutual contract amendment to leave sooner.

 

[Cap_Scarlet]

Thanks for the replies.

I should have been clearer on one point - I don't want to shorten the notice period, actually I want to take advantage of it such that I let them know my intention and let them pay me my notice (and probably work part of it which is also fine). The question is whether I delay to January 1 to get another three months. Feels unethical so probably I wouldn't do it.

They're under no obligation to offer me early retirement but they may choose to do so if they think I might go and work for the competition. I might but very unlikely as my preferred solution is 500-600 hours per annum.

At the end of the day the difference is between a hard and a soft exit whereby a soft exit keeps us friends and possibly results in a nice side gig. The hard exit sees me simply handing my notice in (and getting no early retirement pay).

 

[sakowitzm]

If it's not too late... I consider myself highly ethical, and I see nothing at all un-ethical about waiting til January 1. Not a bit. If it helps you sleep at night, you could wait until early February (same result) so that it's not quite so obvious.

 

[pb4uski]

..... I don't want to shorten the notice period, actually I want to take advantage of it such that I let them know my intention and let them pay me my notice (and probably work part of it which is also fine). The question is whether I delay to January 1 to get another three months. Feels unethical so probably I wouldn't do it. ....

They will pay you for the notice period even if you are not working? Very unusual IME.

Nothing unethical about timing notice to suit you needs IMO.

 

[Cap_Scarlet]

If it's not too late... I consider myself highly ethical, and I see nothing at all un-ethical about waiting til January 1. Not a bit. If it helps you sleep at night, you could wait until early February (same result) so that it's not quite so obvious.

Thanks - I think I've reached a conclusion to 'put it out there' before Christmas. whether it gets resolved or not before then is probably unlikely.

I've spent the last could of weeks nervously writing and rewriting the letter to the point where I think it now makes sense and is short and to the point.

We've also been running through our stash (€2.1 million in investments; €1 million in deferred tax accounts + pensions) as well as our budget (€35,000 'basics' + €30,000 'fun' money) and it all seems to stack up.

Just need to pull the trigger...