Got layed off Yesterday.

[Anjdog2003]

Originally Posted by Jughead

I worked for a large hospital system, 29-30 hospitals. Been with them for 25 years. Really came as a shock but I was a manger so easy pickings I guess.

Told me my position was eliminated due to "restructuring". I'll be 72 in the fall so I had a good run. Was going to retire within 2 years anyway. Weird though being escorted off the campus after all these years.

Wife, working at a sister institution also got the axe. She had over 30 years in. She's 67. We will both receive a modest severance package.

We'll certainly miss the income but think we'll be ok. I started taking SS in 2018 and get about $3,400 a month, wife will get approximately the same. We also have about $2mil in 401k and savings. Everything is paid off so no debt.

Might have to cut back on a few things though. This will be a tough adjustment...forced retirement.

Bro you need to retire.

[Jughead]

Originally Posted by 6spdC6

Normally yes, get RIFed and you should be able to sign up!

Didn't know that

[Jughead]

Originally Posted by GTOguy

I think Jughead was just there for the drama.

Originally Posted by Taurus

Congrats on the forced retirement, sounds like you'll be fine. The one thing that surprised me when I retired in 2021 is how much less you spend than you do when you're working.

I'm hoping that is true.

Originally Posted by LATB

I’ll be 65 this year and have zero desire to retire. Some of us enjoy working.

As far as the OP, Two million in savings and 6-grand in monthly SS…should not be a worry at all if your working days are over.

I enjoyed the job too. I wasn't digging ditches. It was easy money but still some stress.

Originally Posted by PLRX

It's about your age, no offense, but I have seen this hundreds of times. They use many excuses, but it's against the law to fire you because you are no longer productive and set on your ways. After 55 we are gound beef.

Thats my thinking as well. Lots of people who got the axe were older, had lots of time in the hospital and were making a good buck.

Originally Posted by Don Rickles

Iirc he is a pharmacist?

Couple patients ended up with a script for Viagra instead of their Vitamins?

Yes but I managed a 7 person team. We did everything from automation, electronic health record, managed a $40 million inventory, 340B account, bar code medication scanning and controlled substance ordering, auditing and inventory. I hired them all personally and were the best group of people I ever worked with. Truly a team.

[Steve_R]

Originally Posted by GTOguy

It is for him. He went from playing with Tonka and Buddy L trucks to the real thing. I have a friend like that, Lar's same age. He LOVES restoring old antique cars and tractors and grading building sites, etc. Like Lars, he doesn't drink and is a bible thumper. Also he is in top shape and tough as a mule due to a lifetime of physical labor and good genes. I watched his dad cut a '65 IHC pickup in half and strip it down with a torch at age 85. Doing what he loved. If you do what you love, you never work a day in your life.

You just described a hobby, not a job.

[dvarapala]

Originally Posted by Don Rickles

*laid

Getting laid would certainly take the OP's mind off of things.

[dvarapala]

Originally Posted by LATB

Lord willing I will work to the end.

Fortunately I enjoy what I do for my employer so most of it is not really "work" although there is a lot of Corporate Bullshit I could easily do without. My plan is to ride this wave as long as I can stand it and then continue to to the "fun" parts (sans the BS) after I retire.

[dvarapala]

Originally Posted by Steve_R

Hint: You need a hobby. Work isn't a hobby.

My dad is like that. He has no real hobbies, so he's finding retirement somewhat boring.

Me, I'm the exact opposite - I have more hobbies than time, so even if I'm no longer working I'll never run out of thnigs to do.

[Aerovette]

With $2M, I would have retired years ago.

[Chuck A]

Still working at 72
Very insane, indeed

[Raazor]

Originally Posted by Steve_R

72 and 67, over $2M saved for retirement, and still working? Why??? It’s past time to retire and enjoy life.

If that $2M is invested wisely you can withdraw $100k/yr and you’ll still have $2M when you die. You’ve worked hard for many years, enjoy what time you have left.

Yup.

[Jughead]

Originally Posted by Chuck A

Still working at 72
Very insane, indeed

I like money.

[A/E]

Originally Posted by GTOguy

My thoughts as well. I retired 3 yeas ago at 60 and time is flying by. I don't need more money....I need more TIME! Everybody I know who kept working out of fear or retiring with insufficient funds to do all they wanted ended up being too old to do it when that day finally came.

Sage AdviSe ~

What good is bunch of Ca$h if yer too old to enjoy anything good stuff in life with it ~

YCTIWU = You Can't Take It With You

[Steve_R]

Originally Posted by Jughead

I like money.

Time >>> Money

[Blademaker]

Originally Posted by Jughead

I like money.

So you want to be the richest man in the Cemetery?

[Don Rickles]

Scariest part is, now the OP has be with the wife 24/7.

[Mick]

Originally Posted by PLRX

It's about your age, no offense, but I have seen this hundreds of times. They use many excuses, but it's against the law to fire you because you are no longer productive and set on your ways. After 55 we are gound beef.

55? I would have loved to work my full-time Corporate gig until I was 55. I would be a TON better off if I had been allowed to.

I got bounced out at 48. Did consulting and looked for a full-time job for 4 years, then gave up the consulting and continued to look for a full-time job for another 5 years, never found one. At 57, I gave up, and just said "I'm retired."

Congrats Jughead! In my experience, unless you want a private jet, or a new Ferrari every years or something like that, you should be good to go financially!

[Aerovette]

Originally Posted by Jughead

I like money.

You have money. Time to enjoy it.

My mom is always watching money. At 82, I ask her what she is saving it for?

[jw38]

Originally Posted by Jughead

I like money.

You already have plenty of money. Start enjoying it. A larger bank account is just that. It may look great but it's doing nothing for you. Then again, when you die, your wife can throw a printed copy of your bank statements in the coffin with you and then SHE can enjoy what the money can do for her. Perhaps she'll think of you as she looks at the ocean in Spain with her new boy toy.

[Joey777]

I retired in 2022 at age 61. Losing that regular paycheck was scary and took several months to realize we are really ok financially. After years of saving money that can’t be touched, it was strange to start drawing from it. The other big change is being home full time. For 26 years, I was traveling for 2 weeks every month. Now the wife occasionally asks if I have a trip coming up. Bottom line is I’m glad I retired when I did. As others have said, time is really flying by and none of us know our expiration date or how long we’ll enjoy good health.

[GTOguy]

Originally Posted by Jughead

I'm hoping that is true.



I enjoyed the job too. I wasn't digging ditches. It was easy money but still some stress.



Thats my thinking as well. Lots of people who got the axe were older, had lots of time in the hospital and were making a good buck.



Yes but I managed a 7 person team. We did everything from automation, electronic health record, managed a $40 million inventory, 340B account, bar code medication scanning and controlled substance ordering, auditing and inventory. I hired them all personally and were the best group of people I ever worked with. Truly a team.

I do miss the daily camaraderie, but not the political/corporate nonsense and DEI shit that was strangling our unit into stagnation. Also, every day for 42 years of work, I had a mission, and it was easy to operate on autopilot and the time flew by. Retirement has been a transition for sure. Some bad, but mostly good. For me, the bad is the loss of the daily routine and interaction and brainstorming/problem solving with others. The good is: much more money, absolute freedom, not having to go to bed or wake up or set an alarm, having every day be a Saturday, shopping in the middle of the morning, and doing what I want, when I want. Unless the men in your family live into their 110's, at 72 it's time to start living for YOU. Think about it--all the time in the world for The Vette Barn!