gtragitt

Best wishes for making a very difficult decision.

tsl

Excellent!

Will you be able to make your 100 commutes for the year by then?

Dan Burkhart 

Looks like you are getting off a sinking ship while there are still life boats to be had. You probably would have had to start swimming had you stayed aboard.
Best of luck to you in this new chapter. The best is yet to be, as someone once said.

cranky old dude

I counted that up today and if I ride every scheduled work day I think it will total 101....so no, I don't think it will happen.

I have already informed my supervisor that I intend to use some vacation between now and Oct. 31st. I have enough vacation to take the whole month off if I choose to.....or I could take a check for unused vacation and squirrel it away for the first major appliance or vehiclar need that arises.

Sigh......decisions, decisions, decisions.

cranky old dude

I told my wife this evening that I'm most looking foreward to living "Normal hours". Switching from days to nights and back to days every week really, really sucks. After 41 and a half years of shift work I'm tired all over all the time. I want off of this merry-go-round.

The ship is sinking and I'm floating away dry, dumb, and happy! The year's pay I'll receive in addition to my defined pension annuity will be paid to me as an annuity for the rest of my life and at a higher rate than I could have gotten with it if I had received it as a lump sum and invested it in a guarranteed annuity myself. Since it comes from the pension fund it is as safe as my company provided annuity.

So they're going to pay me roughly and additional 3K per year for the rest of my life to retire with my full pension.

stapfam

Seems an odd date to stop work but there must be a reason.

Just think of it- no more commutes on cold dark wet mornings- No servicing the bike every week and the cleaning of it--

Best news I have had for ages so glad you made what I think is the right decision- and I think you will too by a week later.

So hows the garden- the house- how many bikes need servicing and what are you going to do about the list the wife is going to start compiling.

Wish you all the luck in the world and Hope you find some time to get a few bike rides in.

10 Wheels

Happy for you...Good Deal.

Rowan

And how are you going to cope not being a workaholic? Have you a plan for that yet? And have you and your wife worked out how you are going to cope with each other?

cranky old dude

Workaholic?!?! Ooooo, you're funny!!

There are two unkowns that have us concerned....the future cost of Health Insurance until we are Medicare eligable and where the money to pay for it will come from. Those of you who are familiar with my household's health history can understand why we're concerned.

I'm relatively certain that my company will drop all retiree benefits as soon as they emerge from Chapter 11, leaving us out in the cold so to speak. Part of the logic for taking this buy-out is having a window between now and the loss of those benefits to "find my way" and settle into a method of accruing some additional income to cover those future expenses.

As far as coping with me......Oh what a lucky woman my wife will be!

cranky old dude

Seems an odd date to stop work but there must be a reason.

It's a limited time offered buy-out. I was informed on the 5th of Sept. that I have until noon on the 19th of Sept. to turn in my paperwork or loose out on the buy-out goodies. Those goodies are an additional annuity equivilant to one years pay, four months of free Health Insurance, and access to job placemant services.


Just think of it- no more commutes on cold dark wet mornings- No servicing the bike every week and the cleaning of it--

I was supposed to clean my bike? Uh oh!!


Best news I have had for ages so glad you made what I think is the right decision- and I think you will too by a week later.

Thank you, Stap. The logical part of my brain says this is the right time to go. That's going to have to be good enough for now....


So hows the garden- the house- how many bikes need servicing and what are you going to do about the list the wife is going to start compiling.

Having been working 12.5 hour shifts (two day shifts followed by two night shifts every week, with plenty of overtime required also) for the last 25+ years, all those items are in very shoddy condition. There is no lack of work at home, for sure.


Wish you all the luck in the world and Hope you find some time to get a few bike rides in.

Again, thank you. I've been practicing taking leisurly bike rides for years in anticipation of this event. I'm ready in that department.

VegasTriker

Consumer advocate Clark Howard would also have some advice for you regarding your daughter. His advice to parents ALWAYS is that your retirement security comes FIRST. Your daughter will have plenty of time to pay off education loans (stay away from private lenders though) but she will have her own life and family to consider when you get older. You can't depend upon her to finance your later years so you must do it yourself. The big unknown is health care and how you will deal with it until Medicare kicks in some years down the road.

BTW, for several years I worked with a fellow who had been laid off from the largest employer in Rochester - Kodak - way back in the mid 1980s when they began their long downhill slide. He moved to the southwest to take a modest job. This guy who was highly educated was paying for his daughter's MBA program while he lived like a pauper. I personally thought that with her future earning potential she could have borrowed enough so that he could have lived a little better.

Rowan

I'm glad someone thinks so!

zonatandem

Your daughter is an adult; have her behave like one and be responsible for herself . . .
Heck you dould drop dead next week . . . grab the offer, it's better than the unknown.
Retired 17 years ago. All debts were paid. No mortgage/car/credit card payments.
Have never used a financial adviser but policy has always been: want it? . . . pay for it in ca$h, avoid credit.
Not rich, but living comfortably.
Enjoy life . . . NOW!

gtragitt

Congratulations on achieving a deserved retirement. I worked shift work a short time and know how difficult it becomes. I can't imagine how hard it would be to do it as long as you have. Many who worked for me as shift workers looked forward to getting a day job or to retirement.

cranky old dude

Thank you all for your advice and congratulations.

I turned in my first batch of "Papers" today, so now it's official...I'm retiring as of 10/31.

I anticipate cycling to play a very active role in my retirement, so in order to have the flexibility to haul my bikes with both of our vehicles I opted to go the route of buying a hitch rack that has the capability to haul any two of my bikes simuntaneously. My S-10 has a Class III hitch already and I was scheduled to have U-Haul intstall a Class II hitch on our old Camry this morning. It would then be a simple matter of popping the bike rack on which ever vehicle we were using that day.

U-Haul couldn't overcome the rusty bolts under our car and gave up. My trusted mechanic was kind enough to tackle the job for us allowing me to provide him with the hitch, which I was able to purchase from U-Haul for far less than my mechanic's cost would have been for a hitch through his supplier. I'll simply pay him for his labor.

He's been our mechanic for years and is fully aware of our financial, employment, and health situation. His willingness to forego his profit from selling me a hitch is just the most recent example of his kind hearted and fair method of doing business, but I'm treating it as a retirement gift just the same.

So there you have it. One more item on my hit list is complete. I can now drive our more economic vehicle and bring a bike or two of my choosing along with me. Ho Hum....I'm getting tired just thinking of all the fun I'm going to have!!

I guess I really am happy that my wish came to fruition.

tsl

Cranky, in light of today's announcement of them laying off 1,000 more people by the end of the year, I'm sure you feel even better about making the decision. I now I'd be thinking, dodged a bullet there.

leftthread

You could try posting your situation on this subforum of the Diehards board. Solid perspectives offered.

https://www.bogleheads.org/forum/viewforum.php?f=2

Pluto

Your post caught my attention. I'm 63 and have worked myself out of a job. I'm retiring as of 9/15 after 38 years in the banking industry. It is a bittersweet moment but I'm ready to move on. I loved working for my present employer but understood from the outset, my job was to work myself out of a job for which I was handsomely paid and rewarded. The critical issue was health insurance until I am eligible for Medicare when I turn 65. I am blessed that my wife's employer will let me tack on to her plan. Things will be different but I am still able to take nourishment on a daily basis and ride my bike. My new job will be to be Mr. Mom and take care of our 10 year old son. Yep...old fart with a kid!

seenoweevil

Sounds like my shift, a 3-2-2-3 12 hour swing shift. One's thing for certain, you will feel like crap most of the time! Glad you're getting out while the getting is good. It sounds like a great decision with lots of opportunities ahead! Best of luck to you!