Personal Development for Smart People^TM Forums

radd908 · 07-19-2011, 11:51 PM

I have 1 year and 6 months before I retire oficially, and now I am being told because of a reorgnization I would have to leave the office and work with the crew onsite. There are sites that I can get to and from work in 1-2 hrs max a day. The others require 4 to 8 hours a day to get to and from. The problem is that it is many of us and it is done by senoirity so I may end up going to a site far away from home and may have to be away from home during the week, and I just moved last September to my new home. I am thinking of moving on to a new employer as a contractor if I could find a position for another couple years. I am very confused about what I should do. I love working where I am and didn't want to go into retirement this way.

SireneB · 07-20-2011, 01:30 AM

Quote:

Originally Posted by radd908

I have 1 year and 6 months before I retire oficially, and now I am being told because of a reorgnization I would have to leave the office and work with the crew onsite. There are sites that I can get to and from work in 1-2 hrs max a day. The others require 4 to 8 hours a day to get to and from. The problem is that it is many of us and it is done by senoirity so I may end up going to a site far away from home and may have to be away from home during the week, and I just moved last September to my new home. I am thinking of moving on to a new employer as a contractor if I could find a position for another couple years. I am very confused about what I should do. I love working where I am and didn't want to go into retirement this way.

SireneB · 07-20-2011, 01:33 AM

How long have you been at your job? Will you get better retirement benefits if you stay another year and a half? That'd be a big consideration since retirement is so close.

CoolBee · 07-20-2011, 07:03 AM

What Sirene said. Do you get a company pension and is it affected by years worked / final salary in the last year or so? You need to understand that before you make a decision which may affect you badly financially in the longer term.

Did you buy your current home intending to retire there? If you do (and it's an IF) get a job a long way from your home, could you consider renting near the site or finding a cheap boarding house or hotel near there to stay in during the week? It may be worth the cost of that rent to spend the last 2 years of your working life in a company you know with retirement benefits you know. If you go contracting right now in the current global economic situation, it may be to your detriment both in terms of health and finances!

Unless of course you are someone looking for a new challenge and plan to do some kind of work post 'retirement' then now may be the slightly unwelcome but needed kick up the behind to make a change!

I think the financial situation is the most important thing for you to assess right now. That said, no point having a big fat pension to look forward to if you die of stress or whatever before hand!

radd908 · 07-20-2011, 11:55 PM

I have pension coming from a previous company and from my present employer. This is my 3rd and final move/home I have bought during my working years and I am set to retire. My wife retire about 10 years ago and the reason was that the company gave out packages. The company pays all expenses to move including the selling of my home if I decide to change states. I am really looking forward to retiring soon so I may have to rent out of town during the week and return on weekends untill the decision I make to retire. I still plan on working in consulting when I retire....but in the state/city I presently live.

Mynder · 07-21-2011, 10:31 AM

Not to sound overly suspicious, but could it be part of a strategy to "scare you out" BECAUSE that would allow them to skip on the bigger retirement benefits?

i.e. if you quit now, your company gets to pay you less, and thus would be happy to see you go this way?

CoolBee · 07-21-2011, 02:39 PM

Quote:

Originally Posted by Mynder

Not to sound overly suspicious, but could it be part of a strategy to "scare you out" BECAUSE that would allow them to skip on the bigger retirement benefits?

i.e. if you quit now, your company gets to pay you less, and thus would be happy to see you go this way?

Excellent point Mynder.

radd908 · 07-22-2011, 12:04 AM

Thanks...Guys...I will take your thoughts into cosideration.

07-19-2011, 11:51 PM	#1 (permalink)
radd908 Junior Member Join Date: May 2008 Posts: 6	A problem: I May have to relocate I have 1 year and 6 months before I retire oficially, and now I am being told because of a reorgnization I would have to leave the office and work with the crew onsite. There are sites that I can get to and from work in 1-2 hrs max a day. The others require 4 to 8 hours a day to get to and from. The problem is that it is many of us and it is done by senoirity so I may end up going to a site far away from home and may have to be away from home during the week, and I just moved last September to my new home. I am thinking of moving on to a new employer as a contractor if I could find a position for another couple years. I am very confused about what I should do. I love working where I am and didn't want to go into retirement this way.

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07-20-2011, 01:33 AM	#3 (permalink)
SireneB Senior Member Join Date: Jan 2010 Location: Los Angeles Posts: 351	How long have you been at your job? Will you get better retirement benefits if you stay another year and a half? That'd be a big consideration since retirement is so close.

07-20-2011, 07:03 AM	#4 (permalink)
CoolBee Family Member Join Date: Feb 2009 Posts: 2,044	What Sirene said. Do you get a company pension and is it affected by years worked / final salary in the last year or so? You need to understand that before you make a decision which may affect you badly financially in the longer term. Did you buy your current home intending to retire there? If you do (and it's an IF) get a job a long way from your home, could you consider renting near the site or finding a cheap boarding house or hotel near there to stay in during the week? It may be worth the cost of that rent to spend the last 2 years of your working life in a company you know with retirement benefits you know. If you go contracting right now in the current global economic situation, it may be to your detriment both in terms of health and finances! Unless of course you are someone looking for a new challenge and plan to do some kind of work post 'retirement' then now may be the slightly unwelcome but needed kick up the behind to make a change! I think the financial situation is the most important thing for you to assess right now. That said, no point having a big fat pension to look forward to if you die of stress or whatever before hand!

07-20-2011, 11:55 PM	#5 (permalink)
radd908 Junior Member Join Date: May 2008 Posts: 6	I have pension coming from a previous company and from my present employer. This is my 3rd and final move/home I have bought during my working years and I am set to retire. My wife retire about 10 years ago and the reason was that the company gave out packages. The company pays all expenses to move including the selling of my home if I decide to change states. I am really looking forward to retiring soon so I may have to rent out of town during the week and return on weekends untill the decision I make to retire. I still plan on working in consulting when I retire....but in the state/city I presently live.

07-21-2011, 10:31 AM	#6 (permalink)
Mynder Family Member Join Date: Jul 2009 Location: Northern Germany Posts: 2,659	Not to sound overly suspicious, but could it be part of a strategy to "scare you out" BECAUSE that would allow them to skip on the bigger retirement benefits? i.e. if you quit now, your company gets to pay you less, and thus would be happy to see you go this way?

07-22-2011, 12:04 AM	#8 (permalink)
radd908 Junior Member Join Date: May 2008 Posts: 6	Thanks...Guys...I will take your thoughts into cosideration.

Personal Development for Smart PeopleTM Forums

Personal Development for Smart People^TM Forums