The Game Changer...what would you do?
#13
Posted 02 October 2012 - 10:30 AM
Businesses like to do business with other businesses; freelancers, temp staff and wandering 'consultants' make them nervous.
AFWIW, did the same myself back in 1999 when I go the heave and a golden handshake, never looked back...
37 years in Asia, 35 years with the 3rd sex.
When you take your last breath, don't be thinking, "I wish I had....." It'll be too late then!
#14
Posted 02 October 2012 - 08:57 PM
Early days yet so I'm careful not to get my hopes up too much.
But don't worry, if the cash gets offered...I'm having it.
#15
Posted 02 October 2012 - 10:05 PM
#16
Posted 05 October 2012 - 12:38 AM
Don't know your age, which think is very important re choosing best direction. If in your 60's then retirement maybe a good idea.
I would however, concur with some of the other guys who've said that packing it all in and going to LOS would be a bad decision. Unless you have lots of interests outside piss and pussy (or ass/dick in our case) it's a very quick way to oblivion.
If you can have something all the time its no so enjoyable. Alcoholics dont enjoy booze, addicted gamblers don't enjoy gambling they just do it!
The part time work sounds great if that is an option open to you and makes the trips to LOS that much more enjoyable.
Good luck, whatever you choose to do.
PS - also agree that financial planners are c**ts!
#17
Posted 11 October 2012 - 06:06 AM
I am in my early 50s and live in the US. I have some bank, not huge but enough that when I turn 60 I will be fine. I would love to retire now but surviving for the next 10 years till I can touch my 401k and get a small pension that's due to me and SS is the trick. I'll assume the 250K is about a years wage for you cause that's a reasonable buy out - Take the package bum around for 6 months maybe a year, travel etc. If you can make ends meet and like the life style kick back and enjoy it. If your bored or need more money get back into the job market. I know that I couldn't get by on the 1500pm, so I would be chipping away at the 250k. But I would love not to work! Your decision doesn't need to be permanent. Bottom line is it sounds like a great position, and fortunate to have your choices; good luck and congratulations
#18
Posted 11 October 2012 - 01:15 PM
I still have family obligations so I'm looking at working for 6 months of the year and perhaps doing 3 month stints in SEA. I will have a small amount to add to the pot and I intend renting my house out which will fund rental elsewhere.
250k a year...kinnell I bloody wish! If I had that then I wouldn't be leaving! My lump sum will be made up of company severance payments and so on, all of which I've earned over the years.
I'm a simple man from the North and a working stiff and have been since I was 16.
#19
Posted 11 October 2012 - 02:32 PM
It's looking like I will be offered a redundancy package from my job next year.
The figures are likely to be around 250k and a pension of around 1500 per month, the sort of money I'll never see again in my life and to be honest I can't afford to turn it down.
The options after that are up to me, get another job and crack on with it or park my bum up and relax.
What would you fellas do...?
congrats petesie
these packages don't come along very often. take the package, relax for a bit (LOS) and then consider another career that is less stressful and demanding.
good luck with your choice.
I am in the same position a departmental restructure late last year and now a downsizing so packages are now available and I will be taking one.
its taken a year of fluffing around but it is finally here. My last day is 16 November.
my pay out is ok but not enough to park my bum so I will be job hunting, but not before I park my bum in a few locations in LOS.
cheers kakila
#20
Posted 11 October 2012 - 06:18 PM
#21
Posted 12 October 2012 - 09:30 AM
I am in a very similar situation although I passed on an offered buy out last year I hope they offer it again in a few years when I will be ready.
Our circumstances and plans sound similar, I am just a few years behind you. I will be done with my child support in a couple of years and my mortgage will be payed off too. I (almost) own a multi-family house so once the bank is payed off the rental income will fund my housing and a portion of my travel expenses in SEA. I plan (hope) on doing winters in LOS and SEA and come back to NYC for the summer. About six months in each. I most likely will have to supplement my income somehow until I can touch my 401k, but have haven't figured that out yet.
Take the buy out and enjoy yourself.
#22
Posted 14 October 2012 - 04:07 PM
LarryLarry mentioned 401K distributions. With some 401K plans you can access your money without penalty starting " the year in which you turn 55" rather than when "you reach age 59 1/2".
If taking a big lump sum distribution, New York City residents get hit hard. Perhaps worth considering a move to tax free state the year before a big distribution.
#23
Posted 23 October 2012 - 07:41 PM
#24
Posted 23 October 2012 - 09:32 PM
I remain thankful however that I do actually have a job and don't dare take my eye off that particular ball.
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