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Reader’s Story: Three More Years of Work for Adam

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3 more years of work for AdamToday we have an update from Adam and Jane. They wrote us about two and a half year ago and detailed their early retirement plan. They wanted to work 5 more years so they can collect their full pension. Their jobs were very stressful and they really wanted to quit, but they planned to stick it out until 2019. Let’s see how Adam and Jane are doing now.

Three More Years of Work for Adam

Hi Everyone,

About a week ago, we were thinking about giving you an update because Jane was forced into retirement. We would love to do an update since there are new decisions that we have to make. Here is a summary of what occurred since our posting in January 2014. It has been a long 2.5 years since our story was posted. We listened to many of the RB40 readers to try to stay until 55 to double our pension and to receive medical benefits.

Jane is 51 and I will be 52 in a couple of months.  Although we wanted to quit in 2014, we did not retire as recommended by 50% of the readers that gave us feedback. Medical coverage is very expensive and a huge sticking point. Getting any money from the company for health care will be a big financial help. We continued to save 85% of our income. We still hate our IT jobs but we focused on our health. Jane and I lost 15 and 23 pounds respectively by drastically reducing white starchy carbs. We now eat a lot of vegetables, fruits, and some meat. Our BMIs were 25 and now it is 22.

Resignation?…

In April 2014, Jane had enough with stupidity at work! She wrote her resignation letter and was going to hand it in after our Hawaii vacation in May, 2014. Two weeks after we returned, Jane’s manager’s manager was unexpectedly fired and escorted out of the building! Life was immediately better for her and her peers! No more useless reports and meetings to discuss them. At the end of 2014, management announced that the entire IT department is in scope for outsourcing. At this point, there was no need to quit since we were hoping for a severance package.

In 2015, our company spent time researching the outsourcing companies and all employees were on pins and needles waiting for the sky to fall.

In 2016, around 400-500 people were laid off so far and a consulting company in India will replace us. Jane happily made it to her 30 years of service milestone but she and her entire team were recently notified. They will be let go at the end of the year before Christmas. Jane will get a severance package of 230K. She will get 8K yearly for healthcare and her yearly pension will be 50K. Her healthcare will cost 11K thru the company and out of pocket cost is 3K with no dental. She can start collecting in early 2017.  If Jane (age 49) left in 2014 then her pension would be 35K starting at age 55 and she would get ZERO money for healthcare. Since Jane wanted to leave so many years ago, her severance package is a blessing!

Don’t Quit Your Job Until You Read This Book!

Adam still has a job

I was told that I am safe because it is company policy to not let go both husband and wife. I am extremely disappointed to put it mildly because I also wanted a package. 5 out of 9 people on our team were let go. I am more stressed now since I am the only one to support my software. I am still on 24×7 tech support. All of my 5 team members have kids and mortgages and they need their jobs whereas I am ready to retire. I really feel bad for them but at least they will each get around a half year salary plus their prorated bonus. Many of them had 10 to 15 years of service. Severance is 2 weeks pay for every year of service and a max of one year salary. They also got a prorated bonus and an additional 2K for every year of service. The package is quite generous.

For 2015, our expenses was 45K and it was 40-42K from 2010-2014. We also budgeted 20K for healthcare. Therefore, our annual expense is projected starting at 65K with 3% yearly inflation. We projected medical expenses starting at 20K with an 8% yearly inflation.

Passive Income

Our passive tax free income from state muni bonds is currently 84K yearly. Some 5% bonds will be callable starting in 2 years and we will get at least 73K yearly for another 10 years. We will continue with muni to generate income even in retirement. In 2009, we first purchased a lot of 5% bonds above PAR and brought more each year until we reached FI in 2014. In 2015, we were only able to buy 4-4.25% bonds at PAR. In 2016, muni bonds for our state are around 3 to 3.5% PAR. 4-5% bonds are very expensive now but we are fortunate that we have enough to cover expenses. We will always look out for bonds if they are priced right.

Our goal is to have passive income triple to what we need because life ALWAYs throw a curve ball. This way if one or two streams of income are gone then we will be still OK. Our 3 streams of income are from municipal bonds, pensions and our 401Ks.  We also have 6 years of living expenses in cash just in case. Social Security (SS) is not expected but is listed below. Too many Americans depend on SS so I hope our government will do whatever it takes to save it.

Why So Much Income?

Some may ask why do we need so much income when our yearly expense is 65K? Because it provides us with financial security!  It will account for 3% inflation for expenses and 8% inflation for medical expenses. Our parents always worried about money and we hope to NEVER worry about money again. We saved all of our lives and now it time to just relax. Our pipe dream is to live in Hawaii with an ocean view and to take a 3 to 6+ months world cruise. We want to sell our house and maybe get a small condo like in Florida where there is no state taxes. We would lock the door and just travel. We don’t want to maintain a home anymore. We rather just rent a place in Hawaii and then other places so that we are not locked in one location. Plus, we may need to help our family financially and we can continue to give to our charities. Our expenses will increase in retirement.  We are planning to spend 3-5K to rent. In retirement, we will transition from saving mode to spending mode. There will be no need to accumulate anymore.

Future maintenance expenses:

  • Replace 18 year old car- $35K
  • Replace roof- $15K
  • Replace water heater -$1.5K
  • Insulate attic and drywall -$10-20K?
  • Replace exterior retaining wall -$6K

Here are our projected passive incomes:

Adam Jane

*All amounts are pretax except for the tax free munis.

*Jane’s pension is 50K at age 51.

*Adam’s pension is 37K if he quits before 55. 70K if he retires at 55.

*401Ks are in fixed interest and rates changes each year. Currently, it is 4.8%. We  plan to withdraw only interest depending on future interest as needed or take the Required Min Distribution (RMD) after 70.5.

We are financially conservative. We have no money in the stock market and all of our investments are fixed interest. We rather sleep at nights.

Comments by Jane and Adam on their future decisions:

  1. Jane was thinking of waiting 4 years to collect her pension at age 55. We estimate that her pension may increase from 50K to 73K and this higher amount needs to be validated by the pension company. I vote to collect ASAP since it will take 11 years to break even.
  2. I would love to quit but I will try my best to work to 55 which is 3.2 years away. If I quit then my pension would be 37K at age 55. I would not get any money for healthcare and I will need to pay out of pocket a min of 11K per year until 65 for Medicare which is 143K (11K x 13 years). If I retire at 55 then my pension would be 70K and get 8-9K for healthcare yearly. I know that can I walk out now and still be financially OK but that is a lot of money to leave on the table. I hope for a package in 2 years if eligible after the software that I support is rewritten and hosted externally. I also expect to get fired in the future in which there is no severance and I won’t make it to 55. It is possible that the company won’t allow me to reach 55 to double my pension and to get health care. I am a realist pessimist and I am prepared for the worst.
  3. I work at home. While I am still working, we are thinking of working remotely like in Hawaii, maybe California or Florida for a month or more to minimize my stress. This will also allow us to test a retirement location. One issue would be what if there is a mandatory unexpected meeting at the office? Book a flight or call the boss to immediately resign? Jane said to me “don’t be so dramatic to resign”. I need to focus on the prize – get to 55 to double my pension and to get health care benefits. I need to block out the noise, find and enjoy that ocean view.

Joe’s feedback

Wow, Adam and Jane are set up for life. Adam could quit now and their retirement will be perfectly fine. Congratulations! Also, 3 years isn’t that long. If Adam can stick it out, their healthcare will be taken care of in retirement. I don’t see much that can go wrong in their plan. Their retirement investments are very conservative and they should be very safe. Great job Adam and Jane! You’ve made it. Great job on lowering your BMI. That’s not easy.

Do you have any advice for Adam and Jane?

*Comment is closed for now. We are changing host server and I need to add back some comments manually. Thank you for your patience.

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{ 50 comments… add one }
  • Kate @ Cashville Skyline July 25, 2016, 4:19 am

    Way to go Adam and Jane! I’m so impressed by how carefully thought out your early retirement plan is. I agree with Joe you’re both in an excellent spot! I’d definitely focus on ways to eliminate Adam’s stress if he’s going to stick it out for a few more years. Love the idea of working from Hawaii! Would daily yoga or meditation help? I’ve been there, but didn’t have an amazing pension and health insurance 🙂 Congratulations again!

    • Adam and Jane July 25, 2016, 11:54 am

      Hi Kate,

      I don’t do yoga or meditation but I do exercise for about 30-45 mins 5-6 days a week before work. I had two co-workers (both were given notices) that meditate everyday and it helps them. I should learn or just mentally picture ourselves in Hawaii. 🙂

      We are tail end baby boomers and never expected to reach 55 whereas my older co-workers reached 55 several years ago to double their pensions. We are fortunate to have any pension and health care coverage! Thank goodness a good family friend recommended muni bonds 9 years ago but I only started to purchase them 7 years ago. This is why we love the financial blogging (rb40, financial samurai, fugalwoods, etc) sites to get ideas and feedback from other people with more experience. We have been with the company 29 and 30 years and every 5-10 years, the pension and healthcare are reduced. We were prepared to not have any pension and healthcare coverage. That is why we needed to generate some sort of passive income from rent, dividents, munis and etc.

      Adam

  • The Green Swan July 25, 2016, 4:29 am

    Wow what a fortunate turn of events for Jane! I understand how conservative you both are and for that you’ll enjoy a very stress free retirement. Given how set you are right now though, if I were Adam I’d be awfully antsy to hang it up now.

    Thanks for sharing the update.

    • Adam and Jane July 25, 2016, 12:03 pm

      The Green Swan,

      OMG!!! Package please! I have been planning for retirement since age 30 (22 years ago) and guess what? Life throws a curve ball. My wife and many of my co-workers will be gone by the end of the year. It will be a loney place at work dealing with the consultants. Destiny has spoken so I will try to make it to 55 or until they fire me.

      Adam

  • John C @ Action Economics July 25, 2016, 5:00 am

    Adam, did you try to explain to the powers that be at your job that you are OK with being laid off (with same severance as everyone else), even though you and Jane will both be going? It seems crazy to me that they wouldn’t take volunteers for the severance first before forcing people, like the other members on your team who aren’t ready to go. I work as a contractor, but several years ago the “in-house employees at my work were given a buy out opportunity of 2 weeks pay for every week of service, they had more than enough volunteers to meet their goals.

    My dad always refers to stuff like this as the golden handcuffs. They make it so incredibly rewarding to stay for X years that it feels wrong to do so even if you would be OK to leave now. My dad is sticking it out to 55 as well.

    • Fiscally Free July 25, 2016, 8:35 am

      I was thinking the same thing. I suspect the company would have been happy to have a volunteer.

  • Apathy Ends July 25, 2016, 5:10 am

    Interesting company policy – I suppose this is a rare occurance where both parties wanted to get laid off.

    I would probably do the same thing you are doing, wait the 3 years to cement a larger pension and health benefits – but agree you should try out a few locations since you are mobile

    Nice work all around!

  • Joan J. Carrigan July 25, 2016, 5:55 am

    It’s amazing how small changes can drastically impact the number of years I need to work. It’s extremely motivating!!!
    I used to only pay attention to the earnings side of the – I wanted to make enough money so that I could save more. I change that early this year and spent more time on the spending side and I’ve been shocked by the impact on my time to retirement (I plan to retire in 7 years!).

  • Sam @ Financial Samurai July 25, 2016, 6:14 am

    $230,000 severance and $50k/year pension is music to my ears! Great job!

    I hope the people reading this with the portraits of getting laid off and negotiating a severance instead of quitting!

    With all that financial runway, you will wonder why you didn’t do it earlier.

    Enjoy the rest of your life!

    Sam

  • Mr. PIE July 25, 2016, 6:21 am

    I admire the patience and fortitude for Adam to stick out another three years. I do wonder though if he has fully researched healthcare expenses with ACA.
    With their expenses projection and portfolio/income stream, the extra three years seems incredibly conservative. I am actually pleasantly surprised to find a couple more conservative than Mr and Mrs PIE. 🙂
    Adam could walk now and still live like a king and sleep well. I would do that in a heartbeat.

  • Pia @ Mama Hustle July 25, 2016, 6:26 am

    This is the first time I’ve seen retirement income numbers so high! And I haven’t done any research into muni bonds – I can’t believe they don’t have any money in the stock market!

    That’s what I love about this blog – always teaching me something new and showing me stuff that’s out there that I didn’t even know about!

  • Mr. Tako @ Mr. Tako Escapes July 25, 2016, 6:41 am

    Wow, they’re amazingly well setup for retirement. There’s too little that could go wrong with their plan…I think success rate would be nearly 100% here.

    I wonder though…are they planning to reinvest any of that bond income to keep up with inflation?

  • Mike Drak July 25, 2016, 6:50 am

    Severance is better than a gold watch any day. Adam should explore possible severance for himself not sure if he did based on the info provided. This couple is golden and it will only get better if Adan can hang on to age 55. Short term pain long term gain. I will be cheering for you!

    Mike

  • Mike H. July 25, 2016, 6:55 am

    The only scenario in which it makes sense to take pension (and therefore the massive early retirement penalty) is if you don’t expect to live long.

    A massive misconception is that you only have two options:1) retire early and take the penalty, or 2) work until normal retirement age. There is usually a third option: a deferred retirement, in which you quit now but do not take your pension until normal retirement age. Check with your pension experts and read the literature very carefully; a massive drawback of deferred retirements is that usually you won’t get any retiree health care if you take that option.

    I vote not to take Jane’s pension early, unless you *absolutely* cannot live on Adam’s salary + passive investments for the next few years. The difference is $23k/year FOREVER (incidentally, I’m getting a break-even of 9 years, but even an 11-year break-even wouldn’t change my vote, unless you think you’re going to die soon…), plus any COLAs. Likewise, I vote that Adam stick it out until age 55, for similar reasons. Essentially, Adam’s company is paying him $510k in salary PLUS $73k/year FOREVER to be miserable for 3 years. Or he can quit and get $37k/year forever. That’s a massive difference.

    Just an opinion. But I’ve seen a lot of people retire early, take the penalties, and regret it later.

    • Mike H. July 25, 2016, 6:58 am

      *$70k/year forever, sorry. And apologies for overuse of the word “massive.” But to be fair, we’re dealing with some large numbers and large dollar spreads here…

  • CL July 25, 2016, 7:00 am

    Incredible! I think that y’all are already good for retirement. Congratulations on putting yourself in an excellent financial position.

  • Pennypincher July 25, 2016, 7:01 am

    Nice plans! I’m assuming there are no offspring in the picture. No wonder they are so well off!

  • Eugene July 25, 2016, 7:26 am

    I’m really glad for them, but what about the younger people who work there and got laid off because of outsourcing? It’s nice that they were able to stay with the company for 20+ years and qualify for the pension. My generation isn’t that lucky.

  • freebird July 25, 2016, 8:15 am

    It seems to me they have ample margin so they have a lot of flexibility in their future decisions. Assuming they are happy with their current living expenses, since muni interest covers their current annual expenses, on (1) I would defer by four years for a 46% pension bump and I would defer social security to age 70 as well. These moves buffer against long run uncertainty.

    On (2) & (3) my view is that while it may seem to be a lot of money to leave on the table, I wouldn’t sacrifice my physical or mental health to pursue it because you simply don’t need it. As long as you focus on the “loss prospect” (which is an illusion IMO) the company has you in a weak position for 3.2 years when in reality your strong financial foundation should be letting YOU call the shots. My advice is to be mindful of the total cost of trying to maximize your financial benefits, and if there’s something you don’t like, give your employer the chance to fix it rather than treating it a a binary decision on your part. IOW I think the prize to focus on is not the icing that may be coming in 3.2 years, but rather how smooth you can make your home-stretch.

    About that remote assignment in a resort like area as a prelude to retirement– if the cost of that location is much higher than where you currently live, getting hooked may throw your numbers out of whack. I live in coastal southern California, and those ocean views are eye wateringly expensive (5M+ for ~2000sf in La Jolla/Del Mar). Inland a few miles it’s much cheaper; this was the choice I made.

    My feeling is having 0% stock market exposure is riskier than having something like ~20% or so over the long term. While it seems like a distant possibility now, the prospect for a growth spurt leading to a wave of inflation may hurt bonds more than stocks, so I would allocate something to shares through some widely diversified low cost index fund– hopefully such an option is available in your 401ks.

  • Mike July 25, 2016, 8:22 am

    Well I’m now officially depressed. Thought I was doing well with retiring at 52 with about half that income. These folks have it made. The “one more year” syndrome is powerful indeed.

  • Fiscally Free July 25, 2016, 8:33 am

    Sounds like Adam and Jane are set with one of the most secure retirements I’ve ever heard of.
    If Adam is really miserable, he should ask for a buyout and retire.
    I would also recommend putting some money in the stock market. I might not do it now when we are at record highs, but I definitely would during the next downturn. Just investing 20-30% of your savings could have a dramatic return.

  • Aaron @IncomeHoncho July 25, 2016, 9:05 am

    That’s great how your boss was fired. It’s funny how everything works out just when you least expected right?

  • David Michael July 25, 2016, 10:20 am

    Wow! And, more Wow! I am envious and happy for Adam and Jane. After 22 years of retirement filled with working all kinds of invigorating jobs such as teaching ESL in the Middle East for five years, I find wealth and security a mindset. I have met numerous people on the road when we RV’d for seven years throughout the American West who were content and happy with minimal social security. Surprisingly, I have found that too much money can actually impede a happy retirement and a healthy life.

    Now I witness friends and relatives taking residence in cemeteries. Life is so precious. That struggle of work vs. security vs. playtime is a tough one. Life goes on and cemeteries fill up.
    I wish Adam and Jane the very best! Thanks for sharing.

  • DividendStacker July 25, 2016, 10:24 am

    Man, what a crazy nest egg that must be to be pouring out those types of income at those yields. Congrats on almost hitting the finish line! I have been having similar conversations with my parents and their retirement that are very similar to this article (wait/don’t wait, etc). Tough choices!

  • Cynthia July 25, 2016, 11:03 am

    I took a buy out and taxes do come into play! Your doing awesome! I agree with many folks about really finding out if they would let you take a package. Maybe keep someone younger that isn’t making what you are. Things could change in a year too, they could further reduce! Many compaines have several rounds! If not I’d stick out the 3 years for sure. Time goes fast and you could use the next 3 years to really know what you want in the BIGGER picture of living. With Jane retiring she can take off some stress by being available to help more! Even one person out of the workforce helps take off some burdens on the other person. ( just saying) It looks like you have some home projects to complete so she can manage those and get you ready to make your physical move too. It’s been 2 years since we retired early and things take time. Not to mention we had a parent needing our help come into the picture.
    If your able to telecommute it’s a no brainer!

  • retirebyforty July 28, 2016, 10:59 am

    • John C @ Action Economics July 25, 2016, 5:00 am
    Adam, did you try to explain to the powers that be at your job that you are OK with being laid off (with same severance as everyone else), even though you and Jane will both be going? It seems crazy to me that they wouldn’t take volunteers for the severance first before forcing people, like the other members on your team who aren’t ready to go. I work as a contractor, but several years ago the “in-house employees at my work were given a buy out opportunity of 2 weeks pay for every week of service, they had more than enough volunteers to meet their goals.
    My dad always refers to stuff like this as the golden handcuffs. They make it so incredibly rewarding to stay for X years that it feels wrong to do so even if you would be OK to leave now. My dad is sticking it out to 55 as well.
    REPLY LINK EDIT
    o Fiscally Free July 25, 2016, 8:35 am
    I was thinking the same thing. I suspect the company would have been happy to have a volunteer.
    REPLY LINK EDIT
    o Adam and Jane July 25, 2016, 12:31 pm
    We were told 4 years ago when the layoff first started that they will NOT take any volunteers!
    In fact, I did speak with my boss last week. I mentioned that when two of my team members leaves at the end of the year NO ONE can support that certain software. I volunteered to switch with one of them and he said NO! He said “regardless of your wife getting let go, you are kept due to your performance”. Damn, I should have been more of a slacker! This sounds like a compliment but I know I am not a super star. There were plenty of smart people with great evaluations that got terminated. My other co-worker is more technical than me. I suspect HR needed people under 50, at 50, and over 50 for packages to be fair. I really think I am safe for now because of the company policy. I know 2 other couples where one spouse got a package and their better half were safe. The safe spouse each asked for a package and were denied. I figured I would ask for a package anyway because I really wanted to save my co-worker.
    These are truly golden cuffs! We are very fortunate since many many people don’t have pensions, healthcare or a job.
    Adam

  • retirebyforty July 28, 2016, 11:02 am

    • Apathy Ends July 25, 2016, 5:10 am
    Interesting company policy – I suppose this is a rare occurance where both parties wanted to get laid off.
    I would probably do the same thing you are doing, wait the 3 years to cement a larger pension and health benefits – but agree you should try out a few locations since you are mobile
    Nice work all around!
    REPLY LINK EDIT
    • Joan J. Carrigan July 25, 2016, 5:55 am
    It’s amazing how small changes can drastically impact the number of years I need to work. It’s extremely motivating!!!
    I used to only pay attention to the earnings side of the – I wanted to make enough money so that I could save more. I change that early this year and spent more time on the spending side and I’ve been shocked by the impact on my time to retirement (I plan to retire in 7 years!).
    REPLY LINK EDIT
    o Adam and Jane July 25, 2016, 12:44 pm
    I think we need to pay attention to the earning and spending side. After our first trip to Hawaii, it was life changing. We were so happy there just our carry on and a back pack. All we needed was a tee shirt and shorts. We knew we had to stop wasting money on dust collectors for the house and ourselves. When we returned home from Hawaii, we cut 15K of expenses and only spend on the essentails. Yah, we old people still have cable and a land line which should be cut but I will leave that up to Jane. She knows that a line still works during a black out. I recall one black in 2003. Time to cut the cord, Jane!
    We wish you the best to retire in 7 years!!
    Adam

  • retirebyforty July 28, 2016, 11:02 am

    • Sam @ Financial Samurai July 25, 2016, 6:14 am
    $230,000 severance and $50k/year pension is music to my ears! Great job!
    I hope the people reading this with the portraits of getting laid off and negotiating a severance instead of quitting!
    With all that financial runway, you will wonder why you didn’t do it earlier.
    Enjoy the rest of your life!
    Sam
    REPLY LINK EDIT
    o Adam and Jane July 25, 2016, 1:14 pm
    Sam,
    Thanks! Like you always say, don’t quit and get a severance instead.
    Jane actually just lucked out. She was very miserable and wanted to quit at all cost until by fate her boss’s boss got whacked unexpectedly! Jane wanted to quit over 10 years ago but I asked her to continue because many companies don’t offer a pension or healthcare anymore.
    From my old school exel spreadsheet, I know we will be financially OK but we are GUTLESS! Many people like you, rb40, MMM, gocurrycracker, timesaveretire, root of good, DM, firecracker, etc (I know that there many more retired early financial bloggers but I am having a senior moment now.) have the guts to pull the trigger and just walk out. You guys have the gift of writing and something good to share. We started out at 19K each about 30 years ago and it is tough walking away from a pay check! Even Jane is asking me to try to get to 55. So I will let destiny take its course.
    Adam

  • retirebyforty July 28, 2016, 11:02 am

    • Mr. PIE July 25, 2016, 6:21 am
    I admire the patience and fortitude for Adam to stick out another three years. I do wonder though if he has fully researched healthcare expenses with ACA.
    With their expenses projection and portfolio/income stream, the extra three years seems incredibly conservative. I am actually pleasantly surprised to find a couple more conservative than Mr and Mrs PIE.
    Adam could walk now and still live like a king and sleep well. I would do that in a heartbeat.
    REPLY LINK EDIT
    o Adam and Jane July 25, 2016, 1:33 pm
    Mr Pie,
    I did not research the ACA for myself but I have been helping a co-worker with his finances and to help him relocate to Florida. Since his pension will be around 23K, his healthcare will be $150 a month in Fl.
    I was shocked when Jane’s company healthcare plan to continue is 11K! Another co-worker that was laid off with a wife and 2 kids is quoted at 27K! That is insanity!
    Adam
    REPLY LINK EDIT
    ? Mr. PIE July 25, 2016, 2:24 pm
    Thanks for the context. If you do need to dive into ACA further, Justin at Root of Good has an excellent article on the subject.
    REPLY LINK EDIT
    ? Adam and Jane July 25, 2016, 2:46 pm
    Mr. Pie,
    Thank you for reminding me that root of good wrote about ACA. I read several blogs and many times I forget where the info came from.
    Adam

  • retirebyforty July 28, 2016, 11:03 am

    • Pia @ Mama Hustle July 25, 2016, 6:26 am
    This is the first time I’ve seen retirement income numbers so high! And I haven’t done any research into muni bonds – I can’t believe they don’t have any money in the stock market!
    That’s what I love about this blog – always teaching me something new and showing me stuff that’s out there that I didn’t even know about!
    REPLY LINK EDIT
    o Adam and Jane July 25, 2016, 2:07 pm
    Pia,
    We are very fortunate! We lived below our means and saved as much as we can. Our parents came to this country with not much and we learned the value of a dollar early on. We never kept up with the Jones and we never upgraded to a larger house as our income increased.
    Since we are afraid of the stock market, we just did blunt forced savings. We rather sleep at nights than to worry about the DOW going up and down. I saw my father lose money in the stock market and his pain to deal with rental/tenants issues. So we did the opposite. No stock market and no rentals for us.
    Thank goodness for a family friend to recommend munis. We love tax free munis as long as your state is financially strong. Many find munis boring but we are OK with something that pays 4-5% tax free.
    Adam

  • retirebyforty July 28, 2016, 11:03 am

    • Mr. Tako @ Mr. Tako Escapes July 25, 2016, 6:41 am
    Wow, they’re amazingly well setup for retirement. There’s too little that could go wrong with their plan…I think success rate would be nearly 100% here.
    I wonder though…are they planning to reinvest any of that bond income to keep up with inflation?
    REPLY LINK EDIT
    o Adam and Jane July 25, 2016, 2:39 pm
    Mr. Tako,
    Right now, we are not planning to buy any new bonds and we are just hoarding cash because we invested our life’s saving buy muni bonds for the last 7 years. All bond income were re-invested to buy new bonds. If there is a 4-5% bond at PAR right now then I will pop on it! I can’t pass up on a good deal.
    From our original post, many readers commented on inflation. So, I updated my spreadsheet to account 3% inflation on expenses and 8% inflation on medical cost. With 3 sources of income, it does provide us with financial security. In the future, when bonds are called or matures, we will continue to replace them. At some point, when we don’t need the muni income then we will bank the principle. For now, we just want to maximized our total income within reason.
    Adam

  • retirebyforty July 28, 2016, 11:03 am

    • Mike Drak July 25, 2016, 6:50 am
    Severance is better than a gold watch any day. Adam should explore possible severance for himself not sure if he did based on the info provided. This couple is golden and it will only get better if Adan can hang on to age 55. Short term pain long term gain. I will be cheering for you!
    Mike
    REPLY LINK EDIT
    o Adam and Jane July 25, 2016, 3:04 pm
    Mike,
    Since I don’t wear watches, yeah, a severance is most welcome! Last week I asked my boss to switch me with my co-worker that was let go and he said NO! I will stay on the path to 55 as long as possible. Maybe after 2 years, I maybe be eligible when my software that I support are hosted externally. My boss told me that I was enrolled for training on a new product so I am stuck here for a while.
    Adam

  • retirebyforty July 28, 2016, 11:03 am

    • Mike H. July 25, 2016, 6:55 am
    The only scenario in which it makes sense to take pension (and therefore the massive early retirement penalty) is if you don’t expect to live long.
    A massive misconception is that you only have two options:1) retire early and take the penalty, or 2) work until normal retirement age. There is usually a third option: a deferred retirement, in which you quit now but do not take your pension until normal retirement age. Check with your pension experts and read the literature very carefully; a massive drawback of deferred retirements is that usually you won’t get any retiree health care if you take that option.
    I vote not to take Jane’s pension early, unless you *absolutely* cannot live on Adam’s salary + passive investments for the next few years. The difference is $23k/year FOREVER (incidentally, I’m getting a break-even of 9 years, but even an 11-year break-even wouldn’t change my vote, unless you think you’re going to die soon…), plus any COLAs. Likewise, I vote that Adam stick it out until age 55, for similar reasons. Essentially, Adam’s company is paying him $510k in salary PLUS $73k/year FOREVER to be miserable for 3 years. Or he can quit and get $37k/year forever. That’s a massive difference.
    Just an opinion. But I’ve seen a lot of people retire early, take the penalties, and regret it later.
    REPLY LINK EDIT
    o Mike H. July 25, 2016, 6:58 am
    *$70k/year forever, sorry. And apologies for overuse of the word “massive.” But to be fair, we’re dealing with some large numbers and large dollar spreads here…
    REPLY LINK EDIT
    ? Adam and Jane July 26, 2016, 10:02 am
    Hi Mike H.
    No worries in regard to “massive” since it will be a massive life change for me (Jane) considering I have been working since age 17. I actually am already looking into option 3 to see if I can defer pension but elect retiree health care. If so, I will have no choice but to take the early pension since I want the retiree medical.
    Jane

  • retirebyforty July 28, 2016, 11:04 am

    • CL July 25, 2016, 7:00 am
    Incredible! I think that y’all are already good for retirement. Congratulations on putting yourself in an excellent financial position.
    REPLY LINK EDIT
    • Pennypincher July 25, 2016, 7:01 am
    Nice plans! I’m assuming there are no offspring in the picture. No wonder they are so well off!
    REPLY LINK EDIT
    • Eugene July 25, 2016, 7:26 am
    I’m really glad for them, but what about the younger people who work there and got laid off because of outsourcing? It’s nice that they were able to stay with the company for 20+ years and qualify for the pension. My generation isn’t that lucky.
    REPLY LINK EDIT
    o Adam and Jane July 25, 2016, 7:46 pm
    Eugene,
    It is true that the world is changing but one have to adapt in order to survive. We started buying muni bonds because we thought we would not make it to 55. We cut expenses to just bare essentails and saved as much as possible.
    I discovered this site recently, http://www.millennial-revolution.com. Watch their about video. I am impressed by them. A young couple saved for 10 years and then retired in their early 30’s! Their story is very interesting! You have time on your side. there are tons of info on this site and on the web. Read the Jim Collins book “The Simple Path to Wealth”. Read “The Millionaire Next Door” by Thomas Stanley. Look for ways to cut expenses, do side hustles to bring in extra income and to generate passive income to create your own pension.
    I have many cousins that are millennials and they change jobs every 3-4 years to raise their incomes. Many baby boomers have golden hand cuffs and they stay in the same company they may not like just for a pension. The grass is not always greener on the other side. I am lucky to have a pension but I hated my job for at least the last 20 years!
    Adam

  • retirebyforty July 28, 2016, 11:04 am

    • freebird July 25, 2016, 8:15 am
    It seems to me they have ample margin so they have a lot of flexibility in their future decisions. Assuming they are happy with their current living expenses, since muni interest covers their current annual expenses, on (1) I would defer by four years for a 46% pension bump and I would defer social security to age 70 as well. These moves buffer against long run uncertainty.
    On (2) & (3) my view is that while it may seem to be a lot of money to leave on the table, I wouldn’t sacrifice my physical or mental health to pursue it because you simply don’t need it. As long as you focus on the “loss prospect” (which is an illusion IMO) the company has you in a weak position for 3.2 years when in reality your strong financial foundation should be letting YOU call the shots. My advice is to be mindful of the total cost of trying to maximize your financial benefits, and if there’s something you don’t like, give your employer the chance to fix it rather than treating it a a binary decision on your part. IOW I think the prize to focus on is not the icing that may be coming in 3.2 years, but rather how smooth you can make your home-stretch.
    About that remote assignment in a resort like area as a prelude to retirement– if the cost of that location is much higher than where you currently live, getting hooked may throw your numbers out of whack. I live in coastal southern California, and those ocean views are eye wateringly expensive (5M+ for ~2000sf in La Jolla/Del Mar). Inland a few miles it’s much cheaper; this was the choice I made.
    My feeling is having 0% stock market exposure is riskier than having something like ~20% or so over the long term. While it seems like a distant possibility now, the prospect for a growth spurt leading to a wave of inflation may hurt bonds more than stocks, so I would allocate something to shares through some widely diversified low cost index fund– hopefully such an option is available in your 401ks.
    REPLY LINK EDIT
    o Adam and Jane July 26, 2016, 10:04 pm
    Freebird,
    Thanks for sharing and for your POV! We will definitely reconsider Jane deferring her pension to 55 ONLY if she is allowed get her 8K medical coverage now.
    I did the math on my master spreadsheet and at some point you wonder how much extra money do you really need? Even at age 100, we will be ok. I really don’t think we will be around at 100 but who knows.
    We attended a retirement class at the company and the pension and SS specialists suggested to take them asap because it takes too long to break even. At 70, will we be mobile enough to enjoy SS? For now, I rather collect asap SS at 62 and enjoy the money before it is too late. My father had cancer at 62 and another cancer at 67, 68 and died at 69.
    As for the stock market, I have considered Vanguards’s VTSAX and I will leave it to people that can stomach it. At triple income our expenses, we really feel we will have enough. Knock on wood! We don’t need more stress worrying about the DOW going up and down.
    Our 401Ks has index funds but we like the safe fixed interest rate investment instead. Why do we need to take the risk if we can spend the interest and still preserve principle? Even if our 401Ks grow at 1%, we will still be OK at age 100. We are VERY financially conservative.
    The prize of making it to 55 is the 70K for me. That 3 years of suffering will allow me to use my pension to rent a nice place with a view in Hawaii or Florida or where ever. The 3 years of salary can be used for 4 vacations a year to destress, to pay for upcoming expenses, get the house ready to sell and to hoard cash. I know we will be ok if I walk out now but I will work until something forces me to leave before 55. I have been changing my mindset to care less and less about work. It is just a means to an end.
    We can never afford a 5M place like you described. I would be happy getting a condo under 1M in Hawaii provided if we sell our house but Jane does not want to buy anything. If something happens to me then she has to deal with selling it. So, we want to sell our home one day and just rent at different places. No need to get locked to one location and no more maintenance. Renting or buying a place with an ocean view is a want and not a need. In the worst case, we can live in our current mortgage free home that cost less than 10K currently a year for all housing expenses.
    The goal is to Simplify our life and to minimize stress!
    Adam

  • retirebyforty July 28, 2016, 11:04 am

    • Mike July 25, 2016, 8:22 am
    Well I’m now officially depressed. Thought I was doing well with retiring at 52 with about half that income. These folks have it made. The “one more year” syndrome is powerful indeed.
    REPLY LINK EDIT
    o Adam and Jane July 26, 2016, 8:21 pm
    Hey Mike!
    Not need for you to be depressed! You were happy and doing well before our post. Try to never compare to yourself to other people. There will always be people who have less and who have more. That is why we must find happiness within ourself.
    The one more year syndrome is very real and so are the golden handcuffs but our max is 55.
    Adam

  • retirebyforty July 28, 2016, 11:04 am

    • Fiscally Free July 25, 2016, 8:33 am
    Sounds like Adam and Jane are set with one of the most secure retirements I’ve ever heard of.
    If Adam is really miserable, he should ask for a buyout and retire.
    I would also recommend putting some money in the stock market. I might not do it now when we are at record highs, but I definitely would during the next downturn. Just investing 20-30% of your savings could have a dramatic return.
    REPLY LINK EDIT
    o Adam and Jane July 26, 2016, 8:08 pm
    Fiscally Free,
    Senior Mgmt told us that they won’t take volunteers. Last week, I asked my boss for the hell of it to see if I can switch with my co-worker to save him and my boss said no!
    I have considered investing some money in stock market buying Vanguard’s VTSAX but then I thought why take the risk? Do I really want to worry? No, I want to simplify my life and to not worry anymore. At least to reduce my worries.
    Adam

  • retirebyforty July 28, 2016, 11:05 am

    • Aaron @IncomeHoncho July 25, 2016, 9:05 am
    That’s great how your boss was fired. It’s funny how everything works out just when you least expected right?
    REPLY LINK EDIT
    o Adam and Jane July 26, 2016, 10:09 am
    Hi Aaron,
    Yes – Karma can be a b***h.
    Jane

  • retirebyforty July 28, 2016, 11:05 am

    • David Michael July 25, 2016, 10:20 am
    Wow! And, more Wow! I am envious and happy for Adam and Jane. After 22 years of retirement filled with working all kinds of invigorating jobs such as teaching ESL in the Middle East for five years, I find wealth and security a mindset. I have met numerous people on the road when we RV’d for seven years throughout the American West who were content and happy with minimal social security. Surprisingly, I have found that too much money can actually impede a happy retirement and a healthy life.
    Now I witness friends and relatives taking residence in cemeteries. Life is so precious. That struggle of work vs. security vs. playtime is a tough one. Life goes on and cemeteries fill up.
    I wish Adam and Jane the very best! Thanks for sharing.
    REPLY LINK EDIT
    o Adam and Jane July 26, 2016, 6:16 pm
    David Michael,
    Thank you for sharing your experiences! I have to tell that your comment in the original posting in 1/2014 SCARED us! Due to your financial misfortunes and other readers recommendations to find a way to 55 keeps us working instead of quiting in 2014. In 2014, you mentioned that you were 77 and needed to work a couple of months in a year for income. You mentioned that munis can go belly up. I know that our state is financially strong BUT yeah, you scared us!!! Stuff happens so this is the #1 reason why we decided to generate income triple to what we need just in case 1 or 2 sources of our incomes are gone.
    Your comment above about your friends dying is quite depressing but real. Like you wrote, it is a tough decision on the “struggle of work vs.security vs. playtime”. At this stage in my life, there is nothing I have to do. I just want to just chill and to NEVER work again. I never want to worry about money when I retire. Renting a place with an ocean view is a want but not a need. In the current environment, we will NOT travel abroad. We would travel only within the US.
    That is why I vote for security. I will try to work another 3 years to get to 55 to double my pension and to get medical coverage from the company.
    Adam

  • retirebyforty July 28, 2016, 11:05 am

    • DividendStacker July 25, 2016, 10:24 am
    Man, what a crazy nest egg that must be to be pouring out those types of income at those yields. Congrats on almost hitting the finish line! I have been having similar conversations with my parents and their retirement that are very similar to this article (wait/don’t wait, etc). Tough choices!
    REPLY LINK EDIT
    o Adam and Jane July 25, 2016, 9:29 pm
    Thanks but Definitely, don’t wait too long. It is a difficult decision to make.
    My max is 55 and I just hope for good health.

  • retirebyforty July 28, 2016, 11:06 am

    • Cynthia July 25, 2016, 11:03 am
    I took a buy out and taxes do come into play! Your doing awesome! I agree with many folks about really finding out if they would let you take a package. Maybe keep someone younger that isn’t making what you are. Things could change in a year too, they could further reduce! Many compaines have several rounds! If not I’d stick out the 3 years for sure. Time goes fast and you could use the next 3 years to really know what you want in the BIGGER picture of living. With Jane retiring she can take off some stress by being available to help more! Even one person out of the workforce helps take off some burdens on the other person. ( just saying) It looks like you have some home projects to complete so she can manage those and get you ready to make your physical move too. It’s been 2 years since we retired early and things take time. Not to mention we had a parent needing our help come into the picture.
    If your able to telecommute it’s a no brainer!
    REPLY LINK EDIT
    o Adam and Jane July 25, 2016, 9:09 pm
    Cynthia,
    Thanks for sharing your experiences.
    We do have to speak to our accountant on taxes. My co-worker that was laid off 4 years ago had to prepaid taxes to avoid a penalty.
    I had been working from home and it does make it less stressful but I am more available when there are problems. I hate wasting 2.5 hours round trip commuting. If they force me to commute to a different state then I may not have a choice but to quit. Or find a way to get a severance since I will be the only one that does the support. Mgmt is so stupid for laying off half of our team and now I don’t have a backup. Hem! That can work in my favor if I play my cards right!
    Jane will have to find her routine when she retires. Her job defines her so she will need to adapt to being jobless. She will probably exercise more and experiment cooking new recipes. I think she is sick of my cooking.
    I mentally checked out already so I am ready for retirement. I just hate being on 24 x 7 support. OMG! another 3.2 years of suffering. Arg!
    Our company started lay offs in 2012 and restarted again in 2016. So I hope I can get a package in the future. Lay offs will go thru 2017.
    Adam

  • retirebyforty July 28, 2016, 11:06 am

    • AC July 25, 2016, 12:57 pm
    Jane and Adam,
    Amazing job with your finances!
    And kudos for building on top of your very nice pension income!
    Can you please elaborate on your approach to munis:
    1) How did you learn about them?
    2) How do you diversify?
    3) Which munis would you recommend?
    4) Are they all AAA-rated and insured?
    Thanks so much and congrats on a very cushy retirement in the near term.
    REPLY LINK EDIT
    o Adam and Jane July 25, 2016, 8:33 pm
    AC,
    1) How did you learn about them?
    A close family friend told us about municipal bonds. He lost most of his children’s college savings by investing in mutual funds. He now only invest in munis and corporate bonds. Munis are Federal and State tax free for your State. If you live in a tax free State like Florida, you can buy munis from any other State and not pay any State taxes on interest earned. I try to buy bonds that are close to PAR $100-$102. These days 3% bonds are close to PAR. 4-5% bonds are very expensive and I rather not pay a premium. When I first brought 5% bonds 7 years ago, I paid $108 and the YTW (Yield To Worst) was 3%. Now I learn to not pay such a huge $8 premium over PAR. I buy a bond and I hold it until it matures or until it is called. I don’t care if the price drops below what I paid because I know I will always get my priciple back unless it defaults. Only buy bonds if your State is financially strong. Puerto Rico and Detriot are having problems and I would avoid bonds there.
    2) How do you diversify?
    We don’t have any money in the stock market. It is safer to diversify but we only invest in munis in our State.
    3) Which munis would you recommend?
    Only buy what you know! I like mass transit, water, well known schools and hospitals.
    4) Are they all AAA-rated and insured?
    http://www.munibondadvisor.com/rating.htm
    I buy only A rated (upper med grade) and above. It is too difficult to get AAA. I have one or two bonds rated BBB.
    I only have a few bonds that are insured. They are difficult to find and they are usually more expensive.
    5) How to buy them?
    I used to use a financial advisor at a bank to buy munis but no more! I now only use a self service brokerage like Fidelity to buy all of my munis. Why? Because the bonds at a self service brokerage is 1-2% cheaper. A bond at Fidelity may cost $101 but the same bond at a bank may cost $103.
    Let me know if your have any additional questions.
    Adam

  • retirebyforty July 28, 2016, 11:06 am

    • Kenny July 25, 2016, 1:22 pm
    You guys are just amazing to have planned it so well, and then for God’s Favor to drop in your lap with the Outsourcing announcement and then the package. Sometimes, the curve balls are in your favor and sometimes they curve the other way. Either way, life is a mixture of these two, and it is OK to accept BOTH sets of curves coming at you, till have you have Plan A, B and C. And, you guys seem to have it all.
    I really need some planning like you did and I am doing almost all of it, although do not have the assets deployed yet to generate that muni income that you have done so far. I am doing it with stocks that give dividends, but I am really late to the party. But, none the less, I am doing to so slowly that if the market corrects, and it will, I will be in a good shape to capitalize on it and buy more of the dividend payors.
    In the meantime, what you have done is ensured that you are covered with health care which is amazing. Being of similar age, I just cannot quit due to the cost of healthcare, but then if I aggressively deploy some of my cash, maybe I can get an additional $20K out of new income and have those investments just feed into the Obama or Clinton or Trump Healthcare (puppets for this objective) premiums.
    None-the-less, just impressive how you guys are pulling the strings now, instead of someone pulling it for you, and for you Adam, I know you are mentally ready, but hang in there and just do what you can. Look at the positive side of the incoming income that you can actually blow off every weekend, to feel like you are in retirement, esp. since you would NOT have had this income if you were retired today, or you can call your income as the package that you might never get and you are earning it, albeit working for it.
    I did get a package too last year, and instead, I slashed my income by taking a role of a consultant and cutting my stress levels by 90%. No wonder that in the middle of the afternoon, I am even reading and responding to this blog!!!!!!!
    REPLY LINK EDIT
    o Adam and Jane July 26, 2016, 7:29 am
    Kenny,
    Thanks and thanks for sharing! Glad to hear that you have plan and sticking to it. Better late than never. I am also afraid of healthcare cost! I was shocked when Jane’s healthcare would be 11k! Her co-worker that was let go with a wife and 2 kids will cost him 27K! Although, I generated income to pay for healthcare, I rather have the company supplement it. Good luck on your journey and glad to hear that you reduced your stress level!
    Adam

  • retirebyforty July 28, 2016, 11:06 am

    • Linda@Frugal Turtle July 25, 2016, 7:04 pm
    This story is amazing! Wow, are you guys set!
    REPLY LINK EDIT
    • Christy July 25, 2016, 9:03 pm
    Well played on the severance package for Jane.
    I was struck by how similar our circumstances and life goals are.. We are also in our 50’s and hubby will be retiring in 4 yrs with a 130,000/yr pension. We moved to Hawaii a few years ago..it is our dream to pay off our house(deciding if we will use funds from our 401k to do that)and take a 4 month around the world cruise in 2021. You will have to update again so we can hear how you are progressing on your plan.
    REPLY LINK EDIT
    o Adam and Jane July 25, 2016, 9:18 pm
    Christy,
    Nice! WOW! 130K pension is fantastic!!!
    Yes, we do have similar goals.. Hawaii and a world cruise!
    Which island did you moved to? We like Oahu for city living. We would love to hear about your experiences in Hawaii!
    Adam

  • retirebyforty July 28, 2016, 11:07 am

    • Jon July 26, 2016, 3:39 am
    Congratulations on the good fortune of the severance – it seems like you are really in a strong position to retire with little risk. If you can stick it out until 55 you will be in fantastic shape and even if you do not make it, I think you will still be fine. Getting a place in Florida or Hawaii and spending your time traveling sound terrific!
    REPLY LINK EDIT
    • Stockbeard July 26, 2016, 11:55 am
    Looks like even in the worst case scenario you’d have twice your needs in income. I don’t see why you wouldn’t just quit now. You’re way past the “safety buffer”. Congrats, but why would you add more years of pain on yourself at this point?
    REPLY LINK EDIT
    o Adam and Jane July 26, 2016, 12:23 pm
    Hi Stockbeard,
    Adam and I met a couple recently where the husband was also forced into early retirement during the mid 90s. They had more than enough at the time. Now 20 years later, he works part time for extra income and is in his 70s. Based on their experience, they had advised us to not quit and try our best to make it to 55.
    Once both of us are retired, we hope to never be forced to work again. We are factoring in more expenditures when we retire.
    Jane

  • retirebyforty July 28, 2016, 11:08 am

    • Vicki@Make Smarter Decisions July 26, 2016, 4:02 pm
    Wow – congratulations! I just left my full-time job and I’ve semi-retired about 5 years before I can collect my pension and we have nothing saved like you. Reading what you have almost stresses me out! But – I know what we spend and what we have and we’ll be all set. We bought a small condo in Florida and are already enjoying it! My biggest wish for you is to have good health so you can enjoy your retirement days!
    REPLY LINK EDIT
    o Adam and Jane July 26, 2016, 7:52 pm
    Vicki,
    Thank you! Our number one priority is our health. Over the last several years, I cared less about my job. I hate it but I accept it. The work environment is very depressing and stressful. Today, I learned of two more people that was laid off yesterday. I knew of them for the last 27 years.
    Adam

  • retirebyforty July 28, 2016, 11:08 am

    • Stevie Wonders July 26, 2016, 4:29 pm
    Looks to me you are set no matter what you do. Very smart to buy munis when you did.
    How are you getting 4.8% fixed interest on your 401K? I’ve never seen anything like that in my 401Ks, even years ago.
    Although you won’t qualify for subsidies, ACA may be cheaper then your company insurance. Your company’s premiums seem rather high for someone in your age range.
    REPLY LINK EDIT
    o Adam and Jane July 26, 2016, 6:35 pm
    Stevie Wonders!
    That is why we love munis so much. It is like we created our own pension. We were not sure if the pension would get watered down by the time we reached 50. It was a race against time to reach milestone age 50. At this age with min of 15 of years of service they can’t change your pension. We just reached 50 recently and many of my co-workers under 50 don’t have a tradition pension.
    Our company have a fixed saving investment for the 401K. Many many years ago it was at 7.5% and this year it is 4.8%. It was over 5% for many years. I heard that the company invests in corporate bonds and this is how they can offer a safe investment option since NONE of our money is in the stock market. There are other mutual funds in the 401K but we just want our money to be there at age 60. We are VERY financially conservative and we don’t gamble with our future!!
    Adam

  • retirebyforty July 28, 2016, 11:08 am

    • Virginia July 26, 2016, 4:45 pm
    I strongly suggest that Adam talk to his supervisor and tell him or her that he would like to be considered for being laid off. Someone out there would probably be happy to keep their job and the supervisor may appreciate not having to fire someone.
    REPLY LINK EDIT
    o Adam and Jane July 26, 2016, 7:45 pm
    Virginia,
    Senior Mgmt told us that they won’t take volunteers. Last week, I asked my boss for the hell of it to see if I can switch with my co-worker to save him and my boss said no!
    My boss did not decide who goes. He was blindsided. It was decided by those above him (his boss and HR)! I suspect that it is a numbers game so that the company is not discriminating against any age bracket. The downside is that we lost 2 of the most technical people on our team. There is no logic to lay offs. It is to only save the company money.
    Adam

  • retirebyforty July 28, 2016, 11:08 am

    • Stevie Wonders July 26, 2016, 5:08 pm
    Are the Indian consultants coming to your work area? Were those laid off required to train their replacements? This sounds like another one of those H1-B abuse stories.
    REPLY LINK EDIT
    o Adam and Jane July 26, 2016, 6:20 pm
    You hit the nail on the head! People who are laid off must train them and the job goes back to India!
    It is the destruction of the middle class in America.
    Adam

  • retirebyforty July 28, 2016, 11:08 am

    Physician on FIRE July 27, 2016, 11:47 am
    That worked out amazingly well. Congrats!
    It stinks to see American jobs replaced. It’s great that you planned very, very well for this possibility. How many of your laid off coworkers can consider this development a blessing?
    Enjoy life! Adam, I hope your job meets a similarly bad good fate.
    Cheers!
    -PoF

    PoF,
    Thanks! This is really bad for American workers. We are fortunate that we planned for this dooms day 7 years ago. We DID NOT expect it to be this bad. This is a bloodbath. People thought we were “crazy” for prepping.
    I think out of hundreds of those who where laid off under 55, I know of a handful that are happy. Many people under 55 are very bitter. Many over 55 see this as a blessing.
    Adam

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