Woul you walk away from job if.....?

[TripleR]

As per Bucktaker, age and time to retirement are really important considerations. Healthcare has already been mentioned; my wife and I have very good, reasonably priced coverage that will be enhanced shortly with Medicare or it could get grim.

Our sons 43 and 33 are in school/training for career changes now and jobs are pretty scarce except in the healthcare industry; one of our daughters could walk out and have a new job in a couple of days.

 

[dmccarty]

Since I take you are near retirement age, will you be able to find a scarce job as a person near retirement age?

Health care is a concern but I would also consider if your finances would handle high inflation. Unless the economy goes into the dumper again, the economy will take off at some point and I suspect the way that we are going to pay off the huge local, state and Federal debts is to cheapen the value of the dollar. I think the next election is going to be critical. If possible wait to see the election results and then make a decision.

Later,
Dan

 

[PatasColo]

First, I agree with a lot of what is said above (re: health care, knowing your financial state, etc.).

One option not yet mentioned: Faced with such an offer, you might consider looking for another job (assuming you have at least a few weeks to consider the offer). If an employer is offering to pay me to leave, it might be a good time to take that "bonus" particularly if I can land a comparable job, and then I'm that much more ahead financially. I've had situations where I was both "paid to leave" a current job, and paid a bonus to go into the next one! WooHoo! Those days (late nineties) are gone by, but you might still get half the deal (i.e. paid to leave, and still able to find a comparable job). Important Note: It's ALWAYS easier to get job offers when you are currently employed (at least in high tech). You can find figures on the internet that support this.

[Note: I'm just mentioning this option, and it requires that "the stars align", i.e. you can find something comparable that you feel comfortable with.]
-Mitch

 

[riptides]

Thanks GREATLY for the replies thus far.

Real retirement for me is 20 years away.

The people that handle my money "say" I can retire in 15 years at my current run rate doing what i am doing.

I will have healthcare coverage for two years after my "offered" retirement.

I will need a job, I don't want a job. Unfortunate, I need the healthcare coverage a job provides.

Agreed on all points thus far, this is their best offer. Have been through this before, looking on the outside, but not offered. Now it is my turn, so I know what to expect.

I am thinking, take it, add it to the kitty in a more agressive stance. Go independant for two years, become the merc that lurks inside of me...

And find a real job, with benefits, someone else contributes to, in two years.

Sorry for all the typo's. Am stressing....

 

[riptides]

This is a private sector company... but I work in "special" places.

 

[jlawso21]

OK, here are a couple of different angles to this.

1st, it depends on your personality and outlook. Are you a worrier, ie; someone who worries no matter what is going on? Or are you more happy go lucky? If you are a worrier then walking away from security may affect your health.

If you are looking for something new and exciting anyway, this may give you a needed jumping off point and some seed money to get yourself going - it would be a great time to start a new business.

If you already have some money put away and the mortgage is paid this would be a great time for you and your significant other to take some time and check off some of the things on your bucket list. Then hit the new job/ business in a year or so. You never know how your health is going to hold up, so if you are financially able this could be the best thing that ever happened to you.

If you are not in great financial shape and you can find comparable employment this might allow you to sock away some retirement goodies or pay off the mortgage.

good luck

 

[Carl_NH]

Given that information and the need for IT infrastructure jobs in the VA area is quite good (I work with defense related Co's) I would say go for it.

The one thing to starting your own business - it takes 2 years unless you hit the a contract jackpot right out of the box. I started my business in 1990 and one sage older fellow said - it will take 2+ years - he was right but each month and year it gets better.

Go for it - by your statement you are mid 40s so you have a lot of time left to change course if needed and the "retirement benefit" is high enough you can afford to take a salary reduction if you need to take another job.

As another poster said, get some other things lined up now, and do it..

 

[riptides]

Update: I submitted my part of the deal. I am officially in the "pool".

We await the final action of the company. Approval or not.

I have also turned to my professional networks for job placement.

 

[Carl_NH]

Update: I submitted my part of the deal. I am officially in the "pool".

We await the final action of the company. Approval or not.

I have also turned to my professional networks for job placement.

Depends on how you classify "professional networks". My experience is personal networking (contacts within a speciifc profession) is usually more powerful and effective. I'm not a recruiter but I sell stuff and it's not about the sale but earning the trust and respect of the customer, and when one of my clients is looking or interested in moving. I suggest to similar firms that might be a good fit that there is a person available if and when they are looking and pass on contact info - from there it's up to them.

Best of wishes that you get what you asked for and they come through so you can begin the next adventure in your life!

Carl

 

[JDeereman]

What says the old guard and newbies of TBN. Would you DO IT?

Awful interesting scenario. Could work out great. Could be a serious blow to your career, I have seen it go both ways with different friends.

Too bad you are not nearer to retirement age. Then it would be a no-brainer.

Theo