U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-29-2018, 10:29 AM
 
Location: Scottsdale, AZ
7,713 posts, read 4,744,332 times
Reputation: 28275

Advertisements

Preface:

This morning I read a lengthy article online about people whose employment was terminated when they were in their fifties or sixties. I was all set to provide a link here, when I read the article a second time with a critical eye and found bias along with emotionally loaded statements. I believe the facts as cited in the article are true but they are presented in a misleading manner to bolster a thesis which may not be true.

In other words, using true statements to concoct a probable falsehood.

So, without the link, let's talk about people who lose their jobs just as retirement comes into sight on the far horizon.

The article says that people often tell their friends and family they chose to retire, because there's shame attached to being laid off. Do you agree with this?
Reply With Quote Quick reply to this message

 
Old 12-29-2018, 10:58 AM
 
Location: Ypsilanti, MI
2,452 posts, read 3,673,115 times
Reputation: 4835
I chose to resign via my previous employer's retirement program because I knew my name was at the top of the list for the next Reduction In Force program.

For some reason former co-workers and current co-workers at my new employer remain convinced I received a Buy-Out or other incentive to leave.

Not true, I just decided to take control of my own future. Announcing my retirement early took me off the RIF list and gave me more time to find another job. So what others think is true, or think they have been told, can be false.
Reply With Quote Quick reply to this message
 
Old 12-29-2018, 11:21 AM
 
Location: East of Seattle since 1992, originally from SF Bay Area
29,846 posts, read 54,552,867 times
Reputation: 31209
No, in fact where I work, with 2,000 employees, people are waiting to 70-72 to retire. I’m 66 and still happy there, so will stay another 4-5 years. In our industry experience is valued, and the average age is now just over 50. My youngest employee is 26, started at 24 but with a degree and the required 3 years experience.
Reply With Quote Quick reply to this message
 
Old 12-29-2018, 11:38 AM
 
Location: Northern panhandle WV
3,007 posts, read 2,176,472 times
Reputation: 6696
My husband was let go because of his Parkinson's he was close to his FRA anyway, and he did get a package to leave.
Reply With Quote Quick reply to this message
 
Old 12-29-2018, 11:48 AM
 
160 posts, read 89,496 times
Reputation: 530
My husband was. He was a senior mechanical engineer and at the age of 59 was terminated unexpectedly. He had gotten sick and took a year off due to his disability but was able to return to work. He was back for a year before he was terminated. I think it was a combination of his disability & age (he was getting too expensive) which made them decide to let him go.

He would have stayed on until 65 if he could then done some independent consulting. It wasn't meant to be.
Reply With Quote Quick reply to this message
 
Old 12-29-2018, 12:18 PM
 
Location: Central NY
4,685 posts, read 3,256,586 times
Reputation: 12007
Yes.
Twice.
No point in detail. I wasn't the only one in either case. But it greatly affected my retirement pension from first and my SS at end of employment.

I've written about it before. Accepting it wasn't easy and didn't happen right away. But there wasn't much choice for me. I also had to have eye surgery after my second job ended. It was unexpected but definitely took me out of looking for another job.
Reply With Quote Quick reply to this message
 
Old 12-29-2018, 12:35 PM
 
Location: Scottsdale, AZ
7,713 posts, read 4,744,332 times
Reputation: 28275
Quote:
Originally Posted by MI-Roger View Post
Not true, I just decided to take control of my own future. Announcing my retirement early took me off the RIF list and gave me more time to find another job.
I have to say I admire people who retain the ability to pivot when they sense what's coming, instead of being flattened by the oncoming locomotive. Of course, sometimes one can't see it because of a variety of factors. I was once terminated from a job before I even started. It wasn't me; the Silicon Valley director of a Sony division was making hiring decisions that the bosses back in Japan refused to approve. It turned out I knew dozens of people who'd had the same Sony experience.

I find that it gets harder for me to improvise as I age. I've reinvented myself four times work-wise. I'd like to pull the rabbit out of the top hat one more time.
Reply With Quote Quick reply to this message
 
Old 12-29-2018, 06:31 PM
 
Location: Ypsilanti, MI
2,452 posts, read 3,673,115 times
Reputation: 4835
Quote:
Originally Posted by fluffythewondercat View Post
I have to say I admire people who retain the ability to pivot when they sense what's coming, instead of being flattened by the oncoming locomotive.
I didn't have a flawless crystal ball. In Oct of 2012 I was invited to participate in the Director's Diagonal Slice Meeting. Approximately 20 people representing a diagonal slice of her organiation were invited. No immediate peers, no direct Supervisors or Reports, so greater freedom to ask questions and make comments.

At the beginning of the meeting the Director had all participants give a brief description of themselves including length of service. I was at the end of the table so I had the opportunity to witness all the introductions before it was my turn to speak. It was during this waiting period when I noticed the Director was writing down the names of every employee with over 20 years of service. I had 38 years, the most in the room!

In 2010 and 2011 we had two rounds of RIF programs, one each year. I would have had to be blind or stupid to not realize my name was on the list for Round #3. I was just in the right place at the right time to have my future revealed to me. Nothing to lose by leaving before the inevitable happened.
Reply With Quote Quick reply to this message
 
Old 12-29-2018, 06:38 PM
 
605 posts, read 189,590 times
Reputation: 643
My friend is 57. Been working for BofA since she was mid twenties. Her current position is tech support TO THE tech support geeks who service the Bank of America computer software.



She's had no issues with her job. Outstanding evaluations. No problem. Then one time, when she was asked to serve jury duty, they declined. So she didn't do it. But tried to use it against her for asking.
That's when she told me, suddenly something was off. She had a bad feeling about this 360 turn.


She was canned within 8 weeks. All based on fabrications not rooted in anything remotely true. Came out of thin air



Yes it was because she was older. She had been doing the same job for many years without any issues.
Reply With Quote Quick reply to this message
 
Old 12-29-2018, 08:12 PM
 
1,565 posts, read 405,831 times
Reputation: 2909
Quote:
Originally Posted by MI-Roger View Post
I chose to resign via my previous employer's retirement program because I knew my name was at the top of the list for the next Reduction In Force program.

For some reason former co-workers and current co-workers at my new employer remain convinced I received a Buy-Out or other incentive to leave.

Not true, I just decided to take control of my own future. Announcing my retirement early took me off the RIF list and gave me more time to find another job. So what others think is true, or think they have been told, can be false.
Why not stay there and let them either make you an offer for early retirement or at least a severance package?
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top