when is the best time to tell your boss that you are retiring?

[Mark2024]

This topic must have been discussed before but I could not find a post.

For all your FIRED people, when did you tell the boss? Two week notice or 6 months?

There seems to be a boat load of different opinions out there. I am leaning toward a two weeks notice with a conditioned " possible to extend" offering.

 

[Kings over Queens]

I haven't retired yet, but the conversation came up in September of 2021.

Lunch with 2 partners, they wanted to discuss all of the wonderful opportunities that were coming down the line. "Guys, I'm not really looking for more responsibility." "I'm actually thinking of scaling back."

"When you plan to retire?" asked one.

I looked over to the other, who is more senior, and asked "when are we going public?" He kinda scoffed and asked how many shares I had. His demeanor changed when I told him. The paradigm shifted from them to me.

I guess the answer to your question really depends on the relationship you have with your boss, or clients that you might serve, and how YOU want to deal with it. Also, how much leverage you have to dictate the terms of your exit.

I intend to ask how much time they need from me once I've made the final decision that I'm going to retire, and will work with the company for a situation that works for everyone. Could be 2 weeks (I doubt it), could be up to a year (doubt that too).

Now, if your boss has no idea, you might want to let him know on a Tuesday, or Wednesday. Nobody likes bad news on a Monday, Thursday or Friday.

 

[badatmath]

As close to the date as you can without losing any benefits.

 

[ERD50]

As close to the date as you can without losing any benefits.

Exactly. If two weeks notice is in your contract, then give two weeks. If they 'need' more, they should have stipulated it.

Let them ask you to stay, let them offer a $/hr figure if you are up to it. Don't settle for anything less than extravagant

Time > $

-ERD50

 

[FLSUnFIRE]

I gave a long notice and regretted it. They squandered the opportunity to work on a replacement and organized hand-off but the early notice tied my hands and the time s l o w s down from notice to actually leaving. 2wks or whatever is customary or otherwise fits you're schedule best. Don't worry about them, we are all replaceable and they'll soon forget you. I would not offer an extention... if you are open to it wait for them to ask and you can decide at that time (and perhaps they'll offer something for the extension?!).

 

[Jerry1]

As close to the date as you can without losing any benefits.

Said another way, make sure you’re not leaving anything on the table benefit wise and then give notice. Sounds drastic but be prepared to be walked out. If they want you to stay and wrap some things up and you’re willing to do that, that’s great. Just make sure you settle on a final date. Don’t fall for “when the project is done” or “when we fill your position” . . .

 

[disneysteve]

My contract requires 120 days notice.

 

[CincyDave]

I guess the answer to your question really depends on the relationship you have with your boss, or clients that you might serve, and how YOU want to deal with it. Also, how much leverage you have to dictate the terms of your exit.

I agree with this. It depends on your individual situation. There is no one size fits all answer. I had hinted around for a while and officially announced it about a month ahead. About 2 weeks later the company announced a company wide early retirement offer. I had to retract my date and work about 3 months more but it was well worth it! As they say....timing is everything.

 

[Romer]

I think it depends on your situation. Reasonable and short is to protect yourself in the event you get some backlash. Some companies are like that. Mine was not

I was the Program Manager for a Spacecraft production program. I had years invested and in a situation where they couldn't just plug someone in. I gave them 6 months notice and then extended it twice from Sept 2021 to March 2022. I wanted a good transition for my team and the product and moved my date to support critical program needs. In return, my boss adjusted me to Part time when I transitioned out so I could double the length of my company vacation and sponsored health insurance.

Every situation is different. Some you need to protect yourself and other may be about leaving the group in good shape.

 

[UnrealizedPotential]

I gave my boss three weeks notice. However, each persons situation will be different and it's hard to give a one size fits all answer. I have never regretted giving three weeks notice, but I would not necessarily recommend it to anyone else as I would not know their situation in full.

 

[W2R]

My boss was my best friend at work before she was promoted to being my boss; Margaret and I were co-workers on some big projects together. So, we talked a lot about things like my retirement, in whispers, as we worked shoulder to shoulder.

Then 2-3 years before I retired, she was promoted and became my boss! I couldn't have been happier because I didn't want to be promoted, myself. I wanted to retire. Anyway, she already knew my plans and tentative timing of things. I let her know "officially" in an email about a half year or year before I retired, giving her an exact retirement date and so on.

Most people wait until closer to retirement to tell their boss, though, so they won't lose the "plum" work assignments and so on. I didn't care because I knew Margaret wouldn't do that to me.

She divided my job up and gave pieces of it to each of about five co-workers. IIRC this was because she couldn't hire a new full time replacement until my "slot" was empty after I left. Anyway, I did my best to train everybody in how to do what I had been doing.

 

[jim584672]

One minute before you walk out for the last time.

 

[Mark2024]

I am in a non critical low pay job. As of right now, my plan is to tell my boss in late Dec for 1st week of Jan 24.

If I work any more months, I will be out of the ACA supplement with our pensions and other incomes.

 

[Mark2024]

One minute before you walk out for the last time.

Do not want to burn bridges.

 

[RetiredAndLovingIt]

Consider timing your final work day for the first week of the month to lock in your insurance and other benefits for that entire month.
If you resign effective Aug 4th 2023 your medical insurance will usually stay effective till August 31st giving you a few weeks before you need to pay a premium.
If you resign August 25th 2023, your insurance will still end August 31st insurance but your first Cobra or ACA premium is due a just few days later.

 

[PaunchyPirate]

This is highly situational. My Director, knowing my age and thinking, brought up the subject of my retirement about 2 years prior to my actual retirement. He indicated that some others had given a year’s notice. I politely told him that was not likely to happen, as I doubted even I would know that far in advance. I told him I would let him know as soon as I reached the decision. But I knew that was not going to be the reality. I made my decision about 12 weeks prior to my leaving. I actually told him about 6 weeks prior. I did not fear retaliation or anything, really. If they made it uncomfortable, I would just leave earlier. I spent those 6 weeks transferring my work and training coworkers. These were all friendly work relationships and I wanted my recent work to succeed with them. I traveled to a group meeting with 2 weeks left where my Director announced my departure to the entire division. Many already knew thru the grapevine, but many did not. Those 3 days, for me, were mostly spent saying my goodbyes to people that I had worked with. Some for 20 years. It was a pleasant way to wind down my career.

But your mileage may vary. There is no one answer for this situation.

 

[Dash man]

I have three months notice, which included three weeks of vacation. They hired my replacement and I trained them before I left. Got my first pension check the first of the month, the Monday after the Friday I left.

 

[Midpack]

As close to the date as you can without losing any benefits.

Exactly. If two weeks notice is in your contract, then give two weeks. If they 'need' more, they should have stipulated it.

Let them ask you to stay, let them offer a $/hr figure if you are up to it. Don't settle for anything less than extravagant

Time > $

+100.

I was considered a top employee so I gave my boss 3 months notice as a courtesy but asked him to keep it to himself. We had a great relationship or so I thought. But he was surprised, maybe offended, that I retired long before any of the other suits expected. So he told everyone a couple days later! That made my last 3 months way more awkward than they needed to be…

Everyone would like to think they have unique skills/situations that make them hard to replace - but no one is. CEO’s, star athletes and other seemingly irreplaceable employees are successfully replaced all the time.

Give two weeks notice or whatever the minimum allowed by contract/benefits (not past practice or informal agreement) and if they want to negotiate longer, you can decide what you’ll accept.

 

[MC Rider]

After.....

 

[punkinhead]

Consider timing your final work day for the first week of the month to lock in your insurance and other benefits for that entire month.
If you resign effective Aug 4th 2023 your medical insurance will usually stay effective till August 31st giving you a few weeks before you need to pay a premium.

Make sure you understand your company's policy because it's very common for insurance to end on your last day, not the end of the month. That's what the megacorp I worked for does.

As far as the answer to the OP's question: no earlier than on the day you're willing to be walked out. That's obviously unlikely to happen but there are a lot of possibilities between walked out that day and being encouraged to stay longer and you need to be prepared for any of them. I gave 6 weeks notice because I wanted to clean up some loose ends but I'd have been happy to have been cut loose early. The biggest mistake would be to give several months or years of notice and be let go before a bonus payout or be passed over for a voluntary separation payout program because they know you're leaving anyway.

 

[Beldar]

I gave my "Boss" 2 weeks notice at the end of the day (Friday). Coincidentally, he was going on vacation for 2 weeks.

I inserted some timely Dilbert cartoons in the written notice. He thought the HR director would get upset. When I gave her (the HR director) a copy of the letter she thought it was great.

I had timed the departure so no unfinished projects would be left & I think that helped.

_B

 

[clifp]

My boss was my best friend at work before she was promoted to being my boss; Margaret and I were co-workers on some big projects together. So, we talked a lot about things like my retirement, in whispers, as we worked shoulder to shoulder.

I think your relationship with your boss and the company is awfully important.
My boss wasn't my best friend but still a good friend.

My plan was to get a one-year leave of absence, as a trial early retirement. I don't think I could have gotten that without being very upfront many months in advance as to what I was up to. The leave of absence allowed me to collect the year-end bonus, as well as move from California which did have any tax breaks for long-term capital gains to Hawaii which did.

If you don't like your job, and have very little faith in your boss/management then by all means give them two weeks.

But, if you have a better relationship, I think giving them heads up couple of months in advance is the better thing to do. I sure didn't want people cursing my name cause, I left a lot of jobs undone.

 

[Mark2024]

As far as the answer to the OP's question: no earlier than on the day you're willing to be walked out.

I like this one. Thanks.

 

[CardsFan]

I like this one. Thanks.

As far as the answer to the OP's question: no earlier than on the day you're willing to be walked out.

I think the above is important, no matter your relationship with your boss. He/She may have no control in how matters are ultimately handled.

That said, I gave a 3 month notice, in June, and actually stayed part time from then until the end of the year. Everyone was happy, and the last six months were very pleasant. BUT I was prepared to be walked out that day.

 

[gutterman]

Offer only what is required and let them ask you to stay longer.

I gave three months notice as I did not want to leave them in a bind. Big mistake and it was the longest three months of my life.