Got layed off Yesterday.

[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.

[Don Rickles]

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.

*laid

[Jughead]

No that didn't happen.

[Joey777]

Hospital system here in the Pittsburgh is eliminating positions also. What the heck is going on? Sounds like you planned well and should do fine in retirement. Now get out there and enjoy life!

[04 commemorative]

Get a job at Costco

[TheHammer]

I think you'll survive.

[Yadkin]

When one door closes another opens. In this case it's a well deserved retirement. You should be able to take $80k per year out of your investments (hire an expert if you haven't already). Congratulations!

[GrandSportC3]

At your age and considering your 401k balance, I don't see a problem there.
I'd take $100k each year from the 401k + social security. That money shouldn't run out for the rest of your lives. Can't take it to the grave, so, spend your 401k.

[GrandSportC3]

Originally Posted by Yadkin

When one door closes another opens. In this case it's a well deserved retirement. You should be able to take $80k per year out of your investments (hire an expert if you haven't already). Congratulations!

I'd take out $100k per year. That will take over 20 years to run out of funds.

[Jughead]

Originally Posted by 04 commemorative

Get a job at Costco

If anything I'll look for a job working from home, part time. Not interested in Walmart or Home Depot. If I'm going to work I want top dollar.

Originally Posted by GrandSportC3

I'd take out $100k per year. That will take over 20 years to run out of funds.

Wasn't planning on that much but wife is worried we'll run out. I figure in 15 years I really won't care. Don't older people (>80) spend less?

We don't travel. We have beach house rental that is self sustaining, so far, so we'll spend time there in off season. Love surf fishing. I have 2 corvettes to keep me busy too. We do like cutting down trees for fire wood so that will keep us busy if I can get my log splitter started.