I didn't retire by choice and didn't have either the goal or plan of fully retiring. However, a tremor disorder ( contraindicated for a carpenter) followed a couple of years later by a cancer diagnosis and the state of my wife's physical and mental health pointed me in a different direction. I have to say that I like being retired. There are still the stresses concerning my wife but my health has mostly righted itself but the physical stresses being gone and having the time (along with a lot of family support) to help my wife has been greatly beneficial to me. Fortunately, she's still with us enough to handle 85-90% of her needs around the house and I'm mostly an errand boy and daily diary for her. Not exactly a halcyon time of our lives but after an upclose look at worse, it works.
Work perspective...
- Thread starter UNCatTech
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At the same time, I wouldn't want to leave her with nothing, we have had a life together for 30 years and we made choices together to get to where we are.
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I don’t know about IRAs but 401k savings are not excluded from marital assets. I’d be surprised if IRAs were different.
CRHeel94
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I've been quasi-retired for the last four years. Do some consulting and serving on the board of a company. We saved and invested pretty agressively during our careers where we pretty have enough money...dont really need to work to sustain our lifestyles, but additional income is always nice.
I love the flexibility. Have travelled a fair bit. Can spend time with my grown kids or friends when I want. I can pick and choose projects based on my interest.
I have struggled at times with purpose; it also took me a while to heal my ego. I loved where I worked, my team and what I did. Had never had a negative or poor performance review up until restructuring. I could have easily done my job for 5 more years, no problem. Had never thought I'd be in this situation at this stage. Job hunting in your 50s is harsh...several times Ive been told I'm overqualified for positions (one was at our biggest competitor). So I've become choosy. I would still take a full time job, but it has to be the right circumstances.
I love the flexibility. Have travelled a fair bit. Can spend time with my grown kids or friends when I want. I can pick and choose projects based on my interest.
I have struggled at times with purpose; it also took me a while to heal my ego. I loved where I worked, my team and what I did. Had never had a negative or poor performance review up until restructuring. I could have easily done my job for 5 more years, no problem. Had never thought I'd be in this situation at this stage. Job hunting in your 50s is harsh...several times Ive been told I'm overqualified for positions (one was at our biggest competitor). So I've become choosy. I would still take a full time job, but it has to be the right circumstances.
Bigs23
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Why do you want to work full-time again?
I’ve worked in tech for 15 years and somehow have never been laid off (knock on wood; it’ll probably happen at some point), but have seen it impact people I work with more times than I can count.
I have a good bit of autonomy at work and rarely feel stressed/overworked, so all things considered I can’t complain much. Seeing firsthand how flippantly these companies treat their employees definitely made me detach my self-worth from my career though.
aGDevil2k
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In tech here, too. Three layoffs and one close-call escape cause I knew they were axing the whole team a month later (we all knew). I told my son to avoid the corporate world for his career.
CRHeel94
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Sometimes I get bored. Plus I really liked what I did (marketing). And some extra money would be nice.
Then I think of things like the commute, office politics, red-tape and it goes away.
My three parameters are:
1. has to be something with a purpose...not just making a billionaire another billion.
2. Has to be an interesting group of people at work
3. I don't have time for micromanaging or dick bosses. Was pretty lucky most of my career (wife was not). Got along with most of my bosses, even the ones that knifed me in the back.
Ha, yeah corporate tech is definitely not the most fulfilling job in the world. The positive is that it’s really allowed me to have good work/life balance to travel, build other hobbies, etc. so I won’t say I deeply regret going down that career path, but there are plenty of times that I daydream about doing something more meaningful with my work. Will probably try to steer my kids away from corporate too lol.
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I've been lucky to have had great bosses for the most part. There was one bad one but she only lasted 6 months.
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Talking with my team today, I confirmed from my manager that they plan to offer me his job. Problem is I don't really want it. But it would include stock options, a raise, and a bigger potential bonus.
I also found out that two people in my group are taking the buyout, they are both over 60. But one of them already has her backfill lined up and I'm not sure it was the best choice.
I also found out that two people in my group are taking the buyout, they are both over 60. But one of them already has her backfill lined up and I'm not sure it was the best choice.
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I'm late to this thread. First off, very sorry to hear about the marriage issues. I've been traveling a lot lately and clearly missed something. But after all you've been through together, it really saddens me to hear things may not be working out.
On the work side, I'd be very careful about walking away from your current job. As others have mentioned, age discrimination is a very real thing... and it's even worse in an engineering/tech type role. If your current company values you and the work you do, then I'd think twice about leaving... and they clearly do value you. Concerns about the direction/ future of the company are not really your problem. You are not going to be there for the long term.
My advice would be to take the extra base/bonus/stock and save it away for a few years. My plan is to make it to 60 before I retire. We will see if I make it... both from the perspective of surviving in corporate America in your 50s, as well as whether I hit the FU point and just bail. Also for me there are some concerns around aging parents who live VERY far away from NYC.
On the work side, I'd be very careful about walking away from your current job. As others have mentioned, age discrimination is a very real thing... and it's even worse in an engineering/tech type role. If your current company values you and the work you do, then I'd think twice about leaving... and they clearly do value you. Concerns about the direction/ future of the company are not really your problem. You are not going to be there for the long term.
My advice would be to take the extra base/bonus/stock and save it away for a few years. My plan is to make it to 60 before I retire. We will see if I make it... both from the perspective of surviving in corporate America in your 50s, as well as whether I hit the FU point and just bail. Also for me there are some concerns around aging parents who live VERY far away from NYC.
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Could taking the promotion and knowing you only intend to work 3 more years (or however long to vest on those stock options) be a way of planning for your retirement that makes it palatable?
If you take the promotion and put all the extra you earn toward retirement, it might be a great choice provided it allows you to retire earlier than you otherwise would.
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Also keep in mind, if you leave to go somewhere else, you walk away from all the vested good will you have. If the company you go to has to make cuts, you will be a well paid person with no tenure, nearing the end of your career... most companies lean heavily on LIFO (last in, first out) when making decisions on cuts.
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Oh yes it can. I know too well…that’s what a QDRO* is for.
*qualified domestic relation order
Centerpiece
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Maybe accept the promotion for the short term, suffer through any undesirable consequences, and then retire soon after. In other words take the gig with one foot already out the door, enjoy the raise and bonus and options as long as the gettin is good. And as soon as things go more south than north, head for the pasture. Retire with a bit more in the bank.
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Thanks.
By the way my daughter is working to run the NYC marathon, so I might be in NYC this year.
The wife thing is a struggle, but it's not a typical situation. My wife came out as gay in June. So now we're more roommates. I figure eventually one of us might meet some one and we'll have to get divorced, I'm more concerned about the financial party of that.
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This. Take the promotion and ride it. You do not want to be trying this job market in your late 50s. Time will go by in a blink. After a year or two if you’re hating it then you can reassess.