Will retire when Megacorp draws my number

[K9Rulez]

I am one of the many that have no definite plans to retire, but expect Megacorp to name my date and outsource my job. I work in IT and have watched many great employees be replaced by mindless (cheap) drones from India. Well, I luckily have planned and am ready to be retired in 2 to 3 years. I look forward to learning a lot from the people on this forum and am willing to participate and maybe teach someone a thing or two. Anyways, I am glad that this forum is available.


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[Katiek]

Welcome, looking forward to hearing more from you. I think lots of people here enjoy the idea of being FI so that they don't have to worry about MegaCorp's plans. Even if you continue to work to try to reach some other milestone or for other reasons, it's nice not to worry.

 

[Car-Guy]

Welcome to the forum from another IT person. I spent about 40 years in IT before retiring 3 years ago. The constant threat of being outsourced seemed to become part of the job for the last 20 years or so but it never happened in my area.

Best of luck.

 

[wingfooted]

So if your 'number' comes up on Monday - what's the plan ?


Peculiar
P

 

[Tinder8]

I am one of the many that have no definite plans to retire, but expect Megacorp to name my date and outsource my job. I work in IT and have watched many great employees be replaced by mindless (cheap) drones from India. Well, I luckily have planned and am ready to be retired in 2 to 3 years. I look forward to learning a lot from the people on this forum and am willing to participate and maybe teach someone a thing or two. Anyways, I am glad that this forum is available.


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Welcome ! I too am an I.T. person. 34 years, 23 with mega corp. They outsourced all of I.T. 3 years ago. Most of us were between 47-56, just a couple of years from full pension. I was fortunate @ 53, picked up by outsource company and started collection pension.

 

[Bamaman]

My Megacorp also subcontracted customer service to India, and it lasted 6 months. Nobody wanted to talk to those with such bad accents.

And they had to bring the work back into North America. It also cost'em a bunch more $ to hire a new staff, etc. Serves the jerks in charge right. They never seem satisfied with good, efficient employees that saved them money all the past years.

 

[rodi]

Welcome to the forum!

I think many of us have felt the same as you.

Back in the era of "transparency" in goal setting, I remember reading that the Sr.Veep in charge of all engineering at my megacorp had set his performance goal to "establish a tech center in Bangalore and move 40% of the work overseas". He accomplished that goal in about 18 months. That was 10 years before I eventually retired. I saw head count go from the peaks of 135k (early 2000's) to 6k (after many splits/spinoffs/de-acquisitions.... plus a boatload of layoffs.)

It's good to have a plan. It's good to work your plan. Then if (when) you get the tap on the shoulder from HR... you can smile and walk out the door without dread.

For me - the biggest factor in FI prepping was to reduce my spending (and toss the extra in savings)... It basically is a two fer- since a smaller budget means you don't need as large a nest egg, and a larger nest egg means retiring sooner.

Good luck to you.

 

[K9Rulez]

So if your 'number' comes up on Monday - what's the plan ?


Peculiar
P

Thanks for asking!
Not really a chance of that happening this soon, but a layoff in a year or 2 is possible. If it did happen, the plan would be accept 8 months pay continuation, take the reduced pension, sell principal residence and move to vacation/retirement home which we bought a few years ago. Wife would still work for 3 more years and I would have to find a job making $2500/month for 2 more years to keep with my "Layoff at 54 spreadsheet". Making it to Oct, 2016, would have pension increase by about 33% as I would make 55/25 years of service. If I make this, then would officially retire.


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[K9Rulez]

I thank all of you for the welcome and know that not only is my situation not unique, but others going through it are doing fine. I have been working on an exit/retirement plan for about 7 years now, however, I have been saving, mostly in 401k and Roth throughout my career. I have no debt and 2 houses, 1 which we will sell and use the proceeds to help bridge the gap until we could tap our 401k's. I look forward to reading more and as we get closer to the critical dates, I will try to post some details of my plans to see if, with the help of the forum, I can make it better as we move into the ER phase of our lives.



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