Early retirement, given notice final thoughts and turmoil

Apricota

All of your comments re very helpful. No one picks up my work when I’m off. There is another but they are not able to fully do and so need to run all by me. I have been sharing knowledge and training but takes experience and otherwise it all knocks on and hits the fan. I don’t hate what I do but have become ‘board’, same sh** different day etc.

Do think the day ie four days suggestion was panic mode, don’t see how/how would pick up the work. Could be fun to have another come in but funding is as per many corporate switch work load ever increasing and no head count changes.

Nebulous2

Do you have a plan for retirement?

A saying used on here occasionally is "You need to retire to something, not retire from something."

I retired in my late 50s. Several people made a play for me to stay, they would have offered part-time, flexible retirement anything I asked.

While it is flattering to be wanted and we all like to be needed I never seriously considered it. The main reason for that was my boss went to three days and ended up often working bits of five.

"I know Monday is your day off, but it is the best day for the managers meeting, could you just attend virtually for an hour at 11?"

"You should be off on Friday, but some very senior people from this organisation are attending this meeting, and you would be best placed to answer their questions "

Almost as soon as I retired I thought I had made a mistake in retiring, not in leaving where I was, and took a part-time job elsewhere in a less senior role. I worked two days a week, occasionally more, but those extras were rewarded by flexibility. If I worked more I could build up toil and use it for extra holiday in less busy periods, so we travelled a lot.

The main reason I went back was I hadn't planned well enough what retirement would look like. The retiring to something had taken a back seat to the financial planning.

So good luck - it has to be your own decision - it is you that has to live with it, but consider what is feasible / possible / likely at work. Are they likely to offer you the moon to keep you, then resent it when you are working a pattern that nobody else is allowed to do?

horsewithnoname

https://forums.moneysavingexpert.com/discussion/comment/82157849#Comment_82157849

if, to be blunt, you dropped dead would the company close or would they manage to carry on? And if it really would close, how is that your problem anyway?

Do what suits you. You’ve obviously made plans to retire, so retire, else you’ll be there till you’re too late to enjoy your retirement.

That said, I do 3 days a week as I couldn’t afford to fully retire, and I have work commensurate with the hours I do, and it’s certainly better than full time work, though it doesn’t stop me really looking forward to full retirement 🤞

spongebobbrownpants

I was in a similar position, ready to go but agreed to stay on but at just 2 days a week. This suited me as gave a step down trial into retirement and the 2 days pay was slightly less than my “number” so a good trial of the finances. The main thing though is that if you are ready to retire and valued in a niche role you hold all the cards. Any negotiation should be what you want, not what is good for the business.

Apricota

Thanks all. Will go but potentially leave door open for consultancy, or at least not close that door.

Worlds of valuable and very perceptive knowledge from you, fab.

BikingBud

https://forums.moneysavingexpert.com/discussion/comment/82157989#Comment_82157989

If it is a key position and your skills are very much needed where is the business continuity plan, the resilience by having an enabled and empowered deputy prepared.

It is not your worry to ensure they have mitigated their risks.

horsewithnoname

https://forums.moneysavingexpert.com/discussion/comment/82158289#Comment_82158289

exactly. Everyone needs to be prepared for any eventuality

Marcon

Hi, I met with my boss this week and said I was going to retire early. It was a surprise. I am highly valued in niche role, there is never going to be a good time. They would like me to stay on possibly 4 days a week. I am in turmoil.

No one picks up my work when I’m off. There is another but they are not able to fully do and so need to run all by me. I have been sharing knowledge and training but takes experience and otherwise it all knocks on and hits the fan. I don’t hate what I do but have become ‘board’, same sh** different day etc.

So you are 'in turmoil' because your employer very kindly offered to pay you 20% less to do the same workload, but with the added pressure of doing it in 4 days…

I think your decision to stick to your guns might just be a good one! I wish you and your husband long and happy retirements.

Heytheremrblue

Similar situation to me around 18 months ago I was 56 but my reasoning was why work if I didn't have to ? I enjoyed my job and liked the people I worked with but …. Having all your own time to do what you want is priceless.

I've not regretted it for a single second and the days fly just as fast !

I did consider the offers of staying on etc but in my own mind I had passed the point of no return and absolutely nothing would have made me stay.

retiringin26

https://forums.moneysavingexpert.com/discussion/comment/82158140#Comment_82158140

Hope working your notice period is as trouble free as possible. If you are now faced with documenting a load of know-how and process, then AI can be your best friend. With checking by you, it can cut hours off the preparation of a Library of procedures and best practice to be left for others.

eg MS CoPilot with the right settings on its models can make very good documents from the transcript of a video walk-through. Start by recording meetings with yourself! (That presupposes you have the souped-up version of MSTeams available to you. If not, suggest to your boss that you have it)