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I wouldn’t unless I was certain I could manage it financially anyway. A job search at that age could be devastating.
I think everyone's goal should be to be prepared for getting outsourced/shown the door/job loss/etc by the time they're 55 if not 50. Otherwise, you're correct - it can be a tough, tough adjustment.
I was definitely hoping for that, but made it to 65 and resigned/retired. I kept thinking if only they would lay me off at a minimum I would get unemployment insurance (and I hoped for severance). Anything is better than nothing. I did not collect soc sec so it really went to no income for the year. I saved and planned to not be working so financially I am more than fine, BUT any income is better than no income so YES I wanted to be downsized and would have been deeeeelighted.
I think a lot of people who work for giant corporations that offer fat packages to early retirees jump at the offer. I've even heard of people who get hired back as "consultants" after early retirement at an even more lucrative rate. Hey, as long as it's not the government shelling out that money, I say go for it.
My career was serving in the US Navy. They have a High-Year-Tenure [HYT] policy. Given how high a person has advanced, in my case I am an E-6, I was only allowed to stay on Active Duty for 20 years. At my 20th anniversary [plus one month] I was forced onto pension.
I knew about the HYT policy back when I had only served for 10 years. So we had plenty of time to plan for it.
You know you're completely out of the "workplace mindset" when you automatically interpret the title of this post as referring to the size of your current house versus the previous one *raises hand*
Yeah, that’s what I thought it was about too. As it is, yes, I took a lucrative enough ERP 2 months ago at age 61+4. I get my full salary + pension until July 2020, plus some extra benefits (free HI, SS supplemental stipend etc) through then, then salary goes away. Too good to pass up, and I had been hoping/anticipating it for over a year.
I volunteer regularly for the job elimination list, but never get taken up on the offer.
We're always looking to cut costs, which means cutting jobs. I'm right now doing at least parts of the jobs that previously were done by 5-6 other people. I'm 57 next month, and right now the thought is to retire in about a year and a half. If I were severed, I'd get 83 weeks of pay. I keep hoping...
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