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Life transition

@DavidR8 Just bumped into this thread, sorry to hear about the job interruption.

Like several have said there’s probably a market for your skills and experience in the consulting side, I can’t imagine that the pay would be worse and you could roll that into a 5 year plan for retiring on your own schedule even if it turns out to be a 2 year (or whatever) plan.

Of course there may be some other organizations sniffing around to scoop up the best of the free agents as the word gets out.

That said, if you can roll up a retirement plan where the numbers work then this might be just the right opportunity to become a gentleman machine tool trader when you’re not making things in the shop. 😉

Biggest thing, take a deep breath and let the dust settle then with a clear head, figure out what’s next. I’m sure you know that anyway.

I’ve never met you in person but your “resume” here speaks volumes, you’ll do fine!

D 😎
 
Susquatch said:
It's easy to underestimate how much less you really need or what the true "cost" is for a job
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I retired early and although I knew I'd have to live within my modest means I didn't really expect things to get so expensive so fast. I certainly will never be able to buy a newish vehicle again. With more time for hobbies and pleasures also takes more money than when I had no time.

Figuring out how much you need to live isn't so hard, it's trying to figure out how long you're going to live for! My early retirement plan included an early "departure" for myself. Somedays I'm worried that I could outlive my savings.
😱

Early retirement can be hard for many guys that have have no hobbies or tasks to keep them busy. I suspect you're not one of those guys and will enjoy every minute of retirement. I certainly have never been bored for one minute since my retirement.
I bet in 5 years time you'll look back and be glad on however it is that things turned out.
 
jorogi said:
I have a count down app on my phone, it's at 503 days. There are still days when I consider changing it from days to sleeps.
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We use sleeps for our countdowns to most things.

jorogi said:
I don't think Sus has priced out farms in our neck of the woods.
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Well, if you are stuck on a particular neck you might be dead in the water. I would have been if I'd insisted on staying where I was. Instead we moved 150km East and found what we wanted at a price we could afford.

The other thing is that we were willing to convert cash and investments into a different kind of investment - this one in land that is increasing in value faster than anything we were doing before, and making us stronger and healthier than could have done otherwise. My wife calls it squats with rocks. Beats the crap out of buying a membership at a health club.

Farming isn't for everyone. I was born a farm boy and it would be nice to die a farm boy too. But we will see. If worst comes to worst we will have to sell and make a decent profit. But it's been wonderful so far. We are just living one year at a time.
 
TLDR: You'll do just fine.

Long version:
I was scheduled to retire August 2022. SWMBO initially suggested I retire in May 2022, just so I got some extra time off. We've been pretty careful with our savings, and a few months wouldn't make much difference. In 2020 my employer started going in a new direction, and my department (special custom valves) was being squeezed out. CFO wanted company to just be a good shelf, and avoid the sometimes risky custom stuff. So I was getting more and more stressed. SWMBO says maybe we can swing your exit from working in March 2022. Then we discussed January 2022.

So I'm sitting at my desk in August 2021, so stressed my eyeballs are twitching. I can't take it any more, I reach over and turn off power to my work PC. Don't sign out, just flip the power bar to the Off position. Sit there shaking. Call my doctor, get a super-quick appointment for the next day. Go in, talk to her about my stress level and she suggests I take a few weeks off. Gives me a letter. Take the letter to the company HR department, make a claim for short term disability. Use up all my vacation time, but are still twitchy so start the insurance company tango. Insurance adjuster asks me "is it the work or the employer that is causing the stress?" Like a fool, I answer truthfully - "it's the employer". Boom. Claim denied. Since it was employer-related, insurance company says I should just find another job. Sure, no problem finding a new job at age 64.

So my options are go back to work, or call it a day. Talk to company HR department. Their response is basically "suck it up, princess". SWMBO and I talk about it and decide we can get by until CPP, OAS, and RRSPs kick in. Yes, we did.

So retired at 64.

Six months after quitting work, I go in to talk to an old boss that I've kept in touch with, even after I quit working for him. He offers me as much contract work as I want, consulting on custom valve designs. Paid by the hour, I can say yes or no on whatever project comes up that fits my skill set and desires. So now I only work on stuff that interests me, on my own schedule. Sometimes I even hire myself to do specialized machining and get paid for it.

So yes, there's lots of life after work, and you will do just fine.
 
whydontu said:
TLDR: You'll do just fine.

Long version:
I was scheduled to retire August 2022. SWMBO initially suggested I retire in May 2022, just so I got some extra time off. We've been pretty careful with our savings, and a few months wouldn't make much difference. In 2020 my employer started going in a new direction, and my department (special custom valves) was being squeezed out. CFO wanted company to just be a good shelf, and avoid the sometimes risky custom stuff. So I was getting more and more stressed. SWMBO says maybe we can swing your exit from working in March 2022. Then we discussed January 2022.

So I'm sitting at my desk in August 2021, so stressed my eyeballs are twitching. I can't take it any more, I reach over and turn off power to my work PC. Don't sign out, just flip the power bar to the Off position. Sit there shaking. Call my doctor, get a super-quick appointment for the next day. Go in, talk to her about my stress level and she suggests I take a few weeks off. Gives me a letter. Take the letter to the company HR department, make a claim for short term disability. Use up all my vacation time, but are still twitchy so start the insurance company tango. Insurance adjuster asks me "is it the work or the employer that is causing the stress?" Like a fool, I answer truthfully - "it's the employer". Boom. Claim denied. Since it was employer-related, insurance company says I should just find another job. Sure, no problem finding a new job at age 64.

So my options are go back to work, or call it a day. Talk to company HR department. Their response is basically "suck it up, princess". SWMBO and I talk about it and decide we can get by until CPP, OAS, and RRSPs kick in. Yes, we did.

So retired at 64.

Six months after quitting work, I go in to talk to an old boss that I've kept in touch with, even after I quit working for him. He offers me as much contract work as I want, consulting on custom valve designs. Paid by the hour, I can say yes or no on whatever project comes up that fits my skill set and desires. So now I only work on stuff that interests me, on my own schedule. Sometimes I even hire myself to do specialized machining and get paid for it.

So yes, there's lots of life after work, and you will do just fine.
Click to expand...
Thank you for this sir, it hits close to home as I've been mighty unhappy since April 2024 when me and my team of two were moved into an entirely new area. The sell was that we would apply our privacy and security experience to the AI policy work.
Well that was a complete gong show as everything had to be done by committee which is my least favourite way of working. We got fed up pretty fast. I lost one of my awesome team that July when he retired. Me and my remaining security person soldiered on but I knew she was unhappy on the AI file as she loves pure security work. So I found her a 50% role helping implement Microsoft Pervue, I gained the remaining central privacy team and we carried on till Wednesday when the hammer came down.
 
Sorry to hear this Dave . I had to get out early at 62 due to health issues . I'm busier than a one legged man in an ass kicking contest and if ever needed , I could go back working . Don't want to and don't need to , I have plenty of work around the house . Hang in there , everything has a way of working out in the end . I wish you the best .
 
Sometimes it takes a while for (even anticipated) news to sink in. I've been laid off a bunch of times over 43+ years of work. Always managed to find something else (sw development/management).
But the last contract (working for CGI), which I told them had a firm end date on my end, was the last straw. Constant fighting to get paid in less than 30 days, wierd focus on burn rates instead of project progress/success, etc. When the date came I left, and retired. Age 59. The planned 2 week transatlantic cruise blew out any cobwebs and worries.
I did get a part time job as a mechanics helper at a Ferrari restoration shop for 2 years but that too ebbed into fewer days.

So, take some time to wander in the woods or sit on the sea shore and enjoy your workshop while you clear your head. If you are debt free then anything is possible to cover expenses, esp. if it is something you want to do.
 
I retired at 65, 2 years before I had planned on. I was on holidays from work, wife said it was kind of nice I had not been so stressed and mad about things after a week off. Said what do you mean? She said last while, when working I had been mad about everything, stressed and mad about going to work even before leaving for work, often more stressed and mad when I got home.
We talked about what we could do or change, decided to make some massive changes, sold the farm as we couldn’t keep it going long if I was not working. Went in to work, told them I was retiring effective immediately. Wanted to know if they could pay my other time owing me as if regular pay, which they did, also helped as a few more monthly payments were added to the various pensions and saved paying a lump of tax.
Here I am nearly 5 years later, some days missing a pay check, hardly ever think about that job, and in a much better frame of mind. As busy as I want to make it,( once I get this last big change out of the way and surgery, cross my fingers in 2 weeks.)
Anyway, David, some of the best can happen after a “let go”, it seems you are adaptable and have some other knowage under your belt. I would perhaps (as above), take a breather, a bit of quality time with partner, pets, kids, put a few feelers out to others you know of in similar fields. Maybe even this AI stuff you have been involved in, as with a different outfit could be much better, maybe consulting a bit in that area.
I wish you some quality time and some peace of mind going forward, what works for one person may only be a way point for another.
 
@Bandit - all the best for your upcoming surgery, hope for a safe and swift recovery.

As to retiring, I can relate to your attitude towards working. I loved the work I was doing and most the people I worked with but management, or ignorance of how to, drove me out early. Engineers/designers who always blamed others for their mistakes and/or just didn't have a clue about what they were doing. At that point it was to late to change trades so I was fortunate enough to be in a position to just say f_ck it and I left. To many times when I was given a that was poorly layed out or just dumb I'd hold out my hand to the boss and ask him/her to share their drugs, they never did. lol
Now, half the time I don't know what day it is and don't care. I don't change my clock twice a year even though the province does. If I have an appointment I write it on the calendar that's magneted to the fridge.

If a person is in the financial position to retire and you have all your hobby/keep busy stuff in order you won't regret it.

Just my 2 cents.
 
YotaBota said:
If a person is in the financial position to retire and you have all your hobby/keep busy stuff in order you won't regret it.
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^^^This!^^^

If the cash flow works and you don’t need a FT gig then change gears and enjoy the next stage. There is life after the security blanket of the daily grind. It’s a change in mindset though and I don’t think many are prepared when it arrives.

Now if you really enjoy what you do at work (management notwithstanding) then by all means you can pivot to a gig that feeds that need too but it’s you in control now not your former employer!

My experience, I felt that I had unfinished business and didn’t want to give it up yet but I came to a point where the fun/satisfaction wasn’t enough to overcome the grind and I pulled the plug. I was at a point where I didn’t need to work so that was reassuring and I haven’t looked back. I do still have one small job that comes back every year to keep my hand in it but for the rest I’ve moved on to gentleman machinist/designer/household fixit/slacker and the design/build part feeds me what the job used to but without the “help” from the management unless you include management from Ms. Tecnico.

Funny though all that is still a full time job - with overtime. You hear it from everyone that “retires” I had more free time for my hobbies when I was working FT. I just cannot comprehend it, I guess I spend too much time hanging out in this forum, Lol

63 is not too young to “retire” and you have to redefine your definition of retired, it’s not old and grey it’s more like graduating from the stage of life after school called work.

You’ll figure it out and it’ll work out fine!

D 😎
 
Just saw your post - sincerely hope things work out well (whatever path you choose) and that in a few years you’ll look back at this event and smile.

Good luck turning todays sad face into this 😎

Craig
 
hey @DavidR8!
First... sorry to hear. That gut punch is all too real.

Second... you and I could be telling the same story, just mine happened 18 months ago. (and different work) Got let go by the company along with 15 others on a Teams call. Many of us with 10+ years. Company claimed restructuring protection so NO SEVERANCE. (that's a whole other sh*t show I wont go into). I'd just come back from an 18 month medical leave (my head exploded... needed to learn to think again) to assurances all was great and client was looking forward to working with me again. 3 weeks back and BAM! No severance. No insurance. No EI since according to the govt I'd only worked 3 weeks in "my new job". So I called the client who wanted to work with me again and I've been consulting for them for the past 18 months. BEST. THING. EVER! More money. More freedom. Fewer hours since they're paying for my thinking, not my desk hours. I too wanted out and I guess the universe did listen... albeit in a very weird way! I'm hoping to retire in the next few years too, but for now I'm enjoying my work again!

So... chin up. Look at the landscape. And if it works out, thank the universe for listening. 🙂 Best of luck!
Chris
 
Opieshuffle said:
hey @DavidR8!
First... sorry to hear. That gut punch is all too real.

Second... you and I could be telling the same story, just mine happened 18 months ago. (and different work) Got let go by the company along with 15 others on a Teams call. Many of us with 10+ years. Company claimed restructuring protection so NO SEVERANCE. (that's a whole other sh*t show I wont go into). I'd just come back from an 18 month medical leave (my head exploded... needed to learn to think again) to assurances all was great and client was looking forward to working with me again. 3 weeks back and BAM! No severance. No insurance. No EI since according to the govt I'd only worked 3 weeks in "my new job". So I called the client who wanted to work with me again and I've been consulting for them for the past 18 months. BEST. THING. EVER! More money. More freedom. Fewer hours since they're paying for my thinking, not my desk hours. I too wanted out and I guess the universe did listen... albeit in a very weird way! I'm hoping to retire in the next few years too, but for now I'm enjoying my work again!

So... chin up. Look at the landscape. And if it works out, thank the universe for listening. 🙂 Best of luck!
Chris
Click to expand...
This!!!

"they're paying for my thinking, not my desk hours"
 
@DavidR8

Getting let go sucks, but I will say that if you can swing retirement- go man go!!! I jumped off at 53 and now a mere 56 and busier than I can remember- no thoughts about the old job. Sometimes don’t even recall what I did!!

I made sure I had projects - maybe to many - hahahaha but all is awesome!!

Good luck and hopefully you will be A-ok!!
 
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