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Anonymous
| I have an opportunity to take an early retirement, which means I could retire now and start receiving a pension instead of 10 years from now (but the pension would be more if I stayed for 10 more years). I do not like my job and cannot imagine doing it for 10 more years. For a long time, it was all right and even though I wasn't passionate about it, there were positives like getting a paycheck, having adult conversation, and having something that was my own, but lately I had been feeling burned out and thought, how much longer can I do this? Then, out of the blue, I received the info that I was eligible for early retirement. Pros of my job: job security, part-time, good salary. Cons: really don't like it, many days I feel numb because I am just going through the motions and have deep regret that I am not doing something that I love, long commute, have other interests that I would like to pursue but even with a part-time schedule, with 2 school aged kids I never have time for myself much less time to pursue a major career change. I was leaning towards taking the early retirement but the latest happenings with the economy really have me spooked. If I stopped working and for some reason had to return to work the chances of my finding another part-time job would be very small (I'm in my early 50s and have read how people my age have it even tougher in this job market). DH is supportive but admits he wishes he could do it and would be resentful if I did it. I am really struggling with this decision and would appreciate hearing from anyone who has faced this same choice or has taken an early retirement and reinvented themselves. |
Anonymous
| Tough decision. I haven't been in your situation, but another factor to think about is - why is your company offering early retirement? Is it a situation where if not enough people take it, layoffs might be coming? |
Anonymous
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"DH is supportive but admits he wishes he could do it and would be resentful if I did it."
This concerns me. What do you mean he would be resentful if you did it. Sounds so selfish. If he wishes he could do it then he must know how you feel. Why wouldn't he want you to be happy? Please talk about this. Not a financial planner so look at that angle but I would say do it. You have no idea what new opportunities are out there for you once you get out of this career you hate (not sure if you said that) but implied? Life is too short. If you are engaged in the world, have interests, talents you might be surprised where your next "career" might come from. Take it, take a break, and then look at your next life phase. I agree this is a luxury for some - most americans just need to pay the rent and buy food. I am not being naive. But it sounds like you have some options to do this. Good luck. |
Anonymous
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You assume, wrongly, the company will keep you for 10 more years, that it won't go bankrupt, that it will have the means to offer a retirement (think Enron).
Take the early retirement. If offered company stock sell it right away within a year. If the company goes bankrupt that stock will be worthless. After that, recharge your batteries, clear your mind, then, when you are refreshed, send out little feelers to find something you want to do. The news you read about the economy is overblown. Media always exaggerates. What you have read about people your age finding a job is only a tiny sample of the population who are griping loudly about their bad experience getting hired. Some areas are doing great. Job positions open up all the time due to people vacating the job for whatever reason. You would be wise to take the early retirement. It may be a subtle hint upper mgmt sees your lackluster enthusiasm and are being compassionate --for now. New mgmt, or an outsourced HR team, might not be so generous. The company is NOT your buddy. Your sole purpose is to pad a numeric cell in a spreadsheet. If you aren't padding enough, and data results show the cell amount can be improved by your absence, a computer script will activate and flag you as deficient. Get out now. You have been warned. |
Anonymous
| OP here -- clarification: the early retirement option was offered solely based on my age and number of years I have been there. Everyone who met the criteria received the offer. |
Anonymous
| Are you in government? |
Anonymous
I think what other PPs are pointing out is the company might not be in a position of strength if it is making these offers across the board. |
Adam
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| Are working in Government Job?? |
Anonymous
|
I agree that "early out" offers are usually a prelude to outright layoffs. It does seem like a "bird in the hand" situation.
Do you have retirement savings? Would you have to go back to work if your husband works to retirement age? I will be eligible to retire early in a few years (with health benefits), and, if I make it there, I'm going to take it and run. I really like my job, but I will love having a flexible schedule and the time to spend with my family. However, the key is that my husband and I have significant savings, and he'll be able to retire at the same time. We may choose to continue to work at some capacity, or we may just play. |
Anonymous
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Take the early retirement option! Then find yourself a very part time job or serious/committed volunteer position. I'm thinking 10 hours a week. It doesn't have to be in your field. And you definitely don't want to make yourself as busy/stressed as you were before. But find something that gives you something "work"related to talk about with your husband and kids. This might take the edge off your husband's resentment (which I feel is inappropriate and unfair, but he gets a point for honesty . . . ) and also allows you to ease your transition out of the working world. Going cold turkey might be too much of a drastic change to your family, especially your envious husband.
Above all else, take the opportunity and ENJOY it! Losing your commute alone will add tons of happiness to your life! 
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