retirement party; 35 years at the same job

[Leo99]

If you had the finances to retire early, good for you (and I'm not doubting you or throwing stones).

Although I have everything I need, there are some things I wish I had. For example, I've always wanted a Porsche GT3 RS so I could blast up nearby Hwy 1 and drive to Big Sur for lunch - but in the big scheme of life that GT3 is not very important.

Prior to retiring we had moved out of our home town of 40 years to the Central Coast Wine Country. When I retired I had already been working out of my home office for almost 6 years (this was 20 years before Covid). I left behind my colleagues and more importantly, many decades long friendships. When you're older and no longer have children in the school system and don't work locally it's a good way for a person to become isolated. At least that was my experience. Fortunately we have good neighbors and even more importantly I've been happily married to the same woman for 49 years, so life is good.

Scott

It's easy to say but hard to internalize that time is the biggest resource. Most all my friends are retired so I'm joining them and will have more time to do stuff with them. I've been working from home for the past 7 years since COVID so that was a great transition. I hit my number and the math says that I don't need to work any longer. It's been a mental rollercoaster about retiring but I'm finally in a good mental place to give my notice next week and get on with my next chapter.

 

[Mainia]

Why does it matter? I simply tried to comply with the wishes of the leadership here as I remembered them. I was not aware or had not noticed that it wasn’t a big deal anymore.

If the feeling police are getting to anyone it seems to be you.

Yep, it is ME!!!, Comrade.

 

[walterjay]

I worked at my job for 42 years. When I retired there was no party as I was self employed. I gave myself a retirement present by having a garage built just for me

 

[Creekside]

Yep, it is ME!!!, Comrade.

You’ve resorted to sarcasm and poor grammar. Truly awesome. Advice for the future: don’t try to call someone out if you aren’t prepared for a response. If you have any further remarks or comments feel free to PM me. This thread is far enough off topic.

 

[slo town]

It's easy to say but hard to internalize that time is the biggest resource. Most all my friends are retired so I'm joining them and will have more time to do stuff with them. I've been working from home for the past 7 years since COVID so that was a great transition. I hit my number and the math says that I don't need to work any longer. It's been a mental rollercoaster about retiring but I'm finally in a good mental place to give my notice next week and get on with my next chapter.

You talk about time.

Life goes fast. I'm 73 years old and over the last 5 or 6 years I've lost Mark S. (friends since 1959!!!!) to heart failure, Tom C. (friends since 1969) to respiratory failure, Mark P, (friends since 1974) to a home DIY accident!!, Keith C. (friends since 1980) to cancer, Mark M. (friends since 1973) to cancer, and Dave R. (friends since 1972) to suicide at age 75! My long time and soft spoken next door neighbor in Los Gatos, Ray H. He was a lifetime IBMer. He retired and was dead just 6 months later.

It would be a pity to retire late in life, only to die before you were able to enjoy the fruits of your labor.

Scott

 

[clinebarger]

He actually doesn’t believe in it. He’s been quoted before saying that “retirement is for chumps”. He also mentions how one day we will all walk in the shop and he won’t be there it’s because he is going to work till he dies he said.

I have no plans to retire, I like to keep busy & make money

 

[spasm3]

I have no plans to retire, I like to keep busy & make money

I bet you are putting some back in case though.

 

[Toy4x4]

I would have retired at my last job, but they laid off and then canned our dept. due to a major renovation 6/2023. The other two got other jobs, but I wanted to go back as it was my "work home" and had been there almost 25 years and was, by their standards, an excellent employee. I was denied after I went back to reapply during a job fair 15 months later. Hard to believe it'll be 3 years, 6/4, that we were laid off. Lost my yearly month of paid vaca and was 4.5 months away from the 25 year milestone which would have given me a lifetime perk with the company, even when I retired or quit.

 

[Nick1994]

That’s one heck of a run. My aunt recently retired from the company I work for, she hit 30 years.

I’ll be there 10 years in July. On our 10 year anniversary we get a gold ring with our name engraved in it with a diamond, surrounded by a sapphire. I’m not much into jewelry but I am looking forward to it.

 

[Dave Hess]

Many union pensions are running in the hole. Not enough workers paying in.

Can you get a lump sum payout ?

I plan on doing a lump sum buyout.

 

[Dave Hess]

I would have retired at my last job, but they laid off and then canned our dept. due to a major renovation 6/2023. The other two got other jobs, but I wanted to go back as it was my "work home" and had been there almost 25 years and was, by their standards, an excellent employee. I was denied after I went back to reapply during a job fair 15 months later. Hard to believe it'll be 3 years, 6/4, that we were laid off. Lost my yearly month of paid vaca and was 4.5 months away from the 25 year milestone which would have given me a lifetime perk with the company, even when I retired or quit.

That’s very unfortunate. You mentioned this story before.

I know someone with 33 years get downsized by corporate.

 

[Sam_Julier]

I retired at 57 after 30 years with a privately held printing company based in Cincinnati. 80-100 nights away from home each year. 1,937,000 base miles on Delta Airlines. I did well, always one of the top 3 salesmen, and usually #1 in profit margin. Work in the plant with my customers was around the clock. Think J.P. Morgan or Union Pacific annual reports, Mercedes Benz showroom brochures.

After 30 years I was toast. Jennifer had an awesome job with outstanding benefits at Yale University. Plus we saved, saved and saved. And then saved some more. It was the right decision for us.

Now we get to take an 8 week drive to Homer Alaska. See profile picture.

It’s lunacy to think you’re writing your own script. Better to live life now, today to its fullest.

 

[Crashbox]

I put 41 total years of State service in with two different agencies and hung it up in May of 2020, and two years part-time with the second agency (DOT) from which I re-retired a month ago. Zero regrets whatsoever- I grew to really love public service. Pretty much set for life, too, with my pension.

 

[earlyre]

Many union pensions are running in the hole. Not enough workers paying in.

Yes at my former employer, but only for those that started before Jan 1, 2012. If you started after Jan 1, 2012, the pension no longer exists for those employees. The good thing for me is they continued to contribute to my pension until the day I retired.

My Retail employer, ( union in some states - mine included, not union in other States) used to offer a pension, but similar to @wwillson they phased it out to newbies around 2012, and Froze our benefits at that point. ( I think i would get something like $120/mo when the time came)
come last year, they decided to dissolve the pension plan, and gave you 3 choices.
1) Cash lump sum
2) roll it into an annuity
3) Roll it into your 401(k)

I took option 3. I was only 45 at the time, and the whole $6k they were offering me would do way more good in that investment than burning a hole in my pocket...

I can't believe the number of people, some less than 10 yrs from retirement age, who took the cash payout.

 

[Arc]

My Retail employer, ( union in some states - mine included, not union in other States) used to offer a pension, but similar to @wwillson they phased it out to newbies around 2012, and Froze our benefits at that point. ( I think i would get something like $120/mo when the time came)
come last year, they decided to dissolve the pension plan, and gave you 3 choices.
1) Cash lump sum
2) roll it into an annuity
3) Roll it into your 401(k)

I took option 3. I was only 45 at the time, and the whole $6k they were offering me would do way more good in that investment than burning a hole in my pocket...

I can't believe the number of people, some less than 10 yrs from retirement age, who took the cash payout.

Twelve years ago when I retired I was paying $12 hour for each employees retirement fund and the IBEW was still running at something like 80% funded. I can only imagine how much employers are paying now. The biggest chunk of that money goes into the pockets of the ones who are paid to manage the retirement fund. Everybody has their hands in it and in the end the employee is left with very little. The Union employee always gets the shaft, that's why it's illegal for an employer to tell them or show them where the money is going. The union likes to make the guys think it's the employer that is the problem.

 

[QwikKota]

In Engineering that would be a death sentence for your salary. Only way to get real promotions is to jump ship. I'm sure there are other ways such as switching to management but I have always wanted to remain technical.

 

[Dave Hess]

In Engineering that would be a death sentence for your salary. Only way to get real promotions is to jump ship. I'm sure there are other ways such as switching to management but I have always wanted to remain technical.

Agreed.

Especially with masters or PhD.

 

[Dave Hess]

Twelve years ago when I retired I was paying $12 hour for each employees retirement fund and the IBEW was still running at something like 80% funded. I can only imagine how much employers are paying now. The biggest chunk of that money goes into the pockets of the ones who are paid to manage the retirement fund. Everybody has their hands in it and in the end the employee is left with very little. The Union employee always gets the shaft, that's why it's illegal for an employer to tell them or show them where the money is going. The union likes to make the guys think it's the employer that is the problem.

I have 30+ years at my employer.

I was a non union employee….. but had union benefits.

Company said they didn’t want to deal with another union since there were a few already.

 

[earlyre]

Twelve years ago when I retired I was paying $12 hour for each employees retirement fund and the IBEW was still running at something like 80% funded. I can only imagine how much employers are paying now. The biggest chunk of that money goes into the pockets of the ones who are paid to manage the retirement fund. Everybody has their hands in it and in the end the employee is left with very little. The Union employee always gets the shaft, that's why it's illegal for an employer to tell them or show them where the money is going. The union likes to make the guys think it's the employer that is the problem.

our union (UFCW) is a bit different...at least with my employer... our benefits, (former pension, 401(k), healthcare, etc) are direct from the employer, not through the union, not even negotiated. the only negotiated bit, is our pay, and the amount of time off we get... retail is odd... ( AFAIK we get the same health care, and retirement options as the Non union stores)

 

[zzyzzx]

I worked at my job for 42 years. When I retired there was no party as I was self employed. I gave myself a retirement present by having a garage built just for me
View attachment 340259

I was expecting it to be bigger.