Planning to retire.... finally

[The Watchman]

If I had had the option, I would have phased out - offer to work 1-2 days a week for a period of time, helping to train a replacement or something like that. I found that going "cold turkey" was a harder adjustment for me than it was for my employer.

[reeve21]

Congratulations, Barry. I have no personal experience to share, but wanted to wish you well

[Dru Edwards]

Congrats Barry! That's such exciting news. One thing you may be able to do is provide some consulting hours to your employer but then you're only semi-retired.

[jpd]

Originally Posted by TBman

11/1/20 is my date I have in my head (one more tax season that ends on 10/15/20). I have discussed it with my wife and she's all happy about it. We did the math and we're fine. Now I just have to tell my boss. I don't know how it will go down. We're a small office and I'm there for over 30 years, so there's a lot of experience I'm taking with me.

How did you handle it with your long time employer?

I wrote the owner a letter and hand delivered it as I told him. I'd been there 28 years. It was a surreal moment. Barry, time to play some music!

[RustyAxe]

Originally Posted by TBman

11/1/20 is my date I have in my head (one more tax season that ends on 10/15/20). I have discussed it with my wife and she's all happy about it. We did the math and we're fine. Now I just have to tell my boss. I don't know how it will go down. We're a small office and I'm there for over 30 years, so there's a lot of experience I'm taking with me.

How did you handle it with your long time employer?

I wouldn't say a word until 9/1/20. Trust me on this.

[RustyAxe]

Originally Posted by TBman

Can't do that. Although the work is a big mix of tax/accounting/common sense, the big battle with bringing in someone new is adaption to the work flow and client familiarity.

NO ONE is indispensable ... and the firm's problems are not yours.

[M Hayden]

Originally Posted by RustyAxe

I wouldn't say a word until 9/1/20. Trust me on this.

Agreed. All too often, they’ll decide that they don’t need you after all, and let you go. And then, they’ll call and expect you to answer questions out of loyalty, and accuse you of being selfish when you tell them you have a consulting rate and you’re happy to work with them on a paid basis.

[David Eastwood]

Originally Posted by RustyAxe

I wouldn't say a word until 9/1/20. Trust me on this.

Originally Posted by RustyAxe

NO ONE is indispensable ... and the firm's problems are not yours.

Agreed. And that's why I'm staying mum. I know the date, my wife knows the date, and no-one else does.

[TBman]

Originally Posted by RustyAxe

I wouldn't say a word until 9/1/20. Trust me on this.

Originally Posted by RustyAxe

NO ONE is indispensable ... and the firm's problems are not yours.

Originally Posted by M Hayden

Agreed. All too often, they’ll decide that they don’t need you after all, and let you go. And then, they’ll call and expect you to answer questions out of loyalty, and accuse you of being selfish when you tell them you have a consulting rate and you’re happy to work with them on a paid basis.

I'm doing what I feel is the right thing. Staying on until after the extension extended tax season is my way of showing loyalty. My employer has paid me beyond my allotted sick days due to various serious health issues on several occasions. Our tax season is a long stressful process and if I got let go sooner than my retirement date, that's fine with me

[Glennwillow]

Hi Barry,

Best of luck to you in your retirement.

Regarding how to tell your boss, I told my boss about a year before I retired what my plan was. He asked me to delay it for two years, so I did. And I'm glad I did, though I started to have some blood pressure problems near the end, as I actually retired at age 68. When I retired I had been working for the company for 38 years. I still work remotely part time 3.5 years after retiring. I enjoy that, too.

I enjoyed the work I was doing and I really enjoyed the people I was working with. It was a very sad day for me when I walked out the door on the last day.

But retirement is good as long as you have enough money.

- Glenn

[TBman]

Originally Posted by Glennwillow

Hi Barry,

Best of luck to you in your retirement.

Regarding how to tell your boss, I told my boss about a year before I retired what my plan was. He asked me to delay it for two years, so I did........

- Glenn

Thanks Glenn.

My fear is that he will make me an great offer to stay that I'll have to refuse because my wife is so looking forward to me not having a tax season with the stress and long hours and to finally be able to relax.

[guitar george]

Originally Posted by Glennwillow

... retirement is good as long as you have enough money.

"Here's to Health, Wealth and Happiness". That's all you need!

This means reasonably good health without pain, enough money for your needs and a bright and cheery outlook on life.

[sdelsolray]

Originally Posted by TBman

Thanks Glenn.

My fear is that he will make me an great offer to stay that I'll have to refuse because my wife is so looking forward to me not having a tax season with the stress and long hours and to finally be able to relax.

Perhaps you can work part time for a while before you fully retire.

[TBman]

Originally Posted by sdelsolray

Perhaps you can work part time for a while before you fully retire.

I'd like to, but not there and no tax work. It would just be more of the same. I want to walk away from the stress, I'm done.

[Mr. Jelly]

Originally Posted by TBman

Thanks Glenn.

My fear is that he will make me an great offer to stay that I'll have to refuse because my wife is so looking forward to me not having a tax season with the stress and long hours and to finally be able to relax.

I had a date in mind when I was going retire completely no mater what. I was talking to a friend who had already retired concerning my date and he said it didn't mater. He was right. It didn't mater in any way. I worked for six months for nothing. If you can afford to retire then there is no reason to work. I get it some people are emotionally tied to being a worker or whatever and love their job and the people bla bla bla. The only thing I work at now is learning to deal with my agenda, only. I do not do other peoples bidding. I am the master of my time now.