Got layed off Yesterday.

[NEED-A-VETTE]

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.

Oof. That’s rough. Sorry to hear this. Even though you guys have your ducks in a row, being laid off is emotionally unsettling. Especially when you’ve been with them for so long.

I’m sure good things are on the horizon for you guys.

[tjfontaine]

You are 72 !!!! And you have money! RETIRE!!

Geez .....

I retired at 57 - just hit my 13th anniversary of retirement today. I have played, had fun, goofed off, enjoyed life, spent time with family and friends ....

[Jughead]

Originally Posted by jw38

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.

There’s an old saying, you can never be too rich or too thin.

[Steve_R]

Originally Posted by Jughead

There’s an old saying, you can never be too rich or too thin.

You're too rich if you die and leave a bunch of unspent retirement money for others to enjoy.

And you certainly can be too thin. BTDT.

[Don Rickles]

Originally Posted by Steve_R

You're too rich if you die and leave a bunch of unspent retirement money for others to enjoy.

And you certainly can be too thin. BTDT.

It’s all lies.

[Little Red L98.]

Already decided to retire but this hit home. I have a life and I have a hobbies and I LOVE to travel. I’m spending all my shit. Kids can have anything that’s left after we’re gone. If I’m lucky, it won’t be much. My dues to society are paid in full. Time for me.



I counted my years and found that I have less time to live from here on than I have lived up to now.
I feel like that child who won a packet of sweets: he ate the first with pleasure, but when he realized that there were few left, he began to enjoy them intensely.
I no longer have time for endless meetings where statutes, rules, procedures and intrnal regulations are discussed, knowing that nothing will be achieved.
I no longer have time to support the absurd people who, despite their chronological age, haven't grown up.
My time is too short:
I want the essence,
my soul is in a hurry.
I don't have many sweets in the package anymore.
I want to live next to human people,
very human, who know how to laugh at their mistakes,
and who are not inflated by their triumphs,
and who take on their responsibilites.
Thus human dignity is defended and we move towards truth and honesty.
It is the essential that makes life worth living.
I want to surround myself with people who know how to touch hearts, people who have been taught by the hard blows of life to grow with gentle touches of the soul.
Yes, I'm in a hurry, I'm in a hurry to live with the intensity that only maturity can give.
I don't intend to waste any of the leftover sweets.
I am sure they will be delicious, much more than what I have eaten so far.
My goal is to reach the end satisfied
and at peace with my loved ones
and my conscience.
We have two lives.
And the second begns when you realize you only have one.

Credits : Mário Raul de Morais Andrade
(Oct 9, 1893 – Feb 25, 1945)
Brazilian poet, novelist, musicologist, art historian and critic, photographer

[GTOguy]

Originally Posted by Little Red L98.

Already decided to retire but this hit home. I have a life and I have a hobbies and I LOVE to travel. I’m spending all my shit. Kids can have anything that’s left after we’re gone. If I’m lucky, it won’t be much. My dues to society are paid in full. Time for me.



I counted my years and found that I have less time to live from here on than I have lived up to now.
I feel like that child who won a packet of sweets: he ate the first with pleasure, but when he realized that there were few left, he began to enjoy them intensely.
I no longer have time for endless meetings where statutes, rules, procedures and intrnal regulations are discussed, knowing that nothing will be achieved.
I no longer have time to support the absurd people who, despite their chronological age, haven't grown up.
My time is too short:
I want the essence,
my soul is in a hurry.
I don't have many sweets in the package anymore.
I want to live next to human people,
very human, who know how to laugh at their mistakes,
and who are not inflated by their triumphs,
and who take on their responsibilites.
Thus human dignity is defended and we move towards truth and honesty.
It is the essential that makes life worth living.
I want to surround myself with people who know how to touch hearts, people who have been taught by the hard blows of life to grow with gentle touches of the soul.
Yes, I'm in a hurry, I'm in a hurry to live with the intensity that only maturity can give.
I don't intend to waste any of the leftover sweets.
I am sure they will be delicious, much more than what I have eaten so far.
My goal is to reach the end satisfied
and at peace with my loved ones
and my conscience.
We have two lives.
And the second begns when you realize you only have one.

Credits : Mário Raul de Morais Andrade
(Oct 9, 1893 – Feb 25, 1945)
Brazilian poet, novelist, musicologist, art historian and critic, photographer

Crap. This just made me realize that I'm wasting precious time responding to Slewfoot posts. And that I may be wasting my precious time engaging with Big Bob. Crap crap crap crap crap!

[Little Red L98.]

Originally Posted by Steve_R

You're too rich if you die and leave a bunch of unspent retirement money for others to enjoy.

And you certainly can be too thin. BTDT.

Some people may not realize that it can suck to be thin. I suck at gaining weight. Just eat they say. Yeah, sure, I’ll just eat. Thnaks.

[Little Red L98.]

Originally Posted by GTOguy

Crap. This just made me realize that I'm wasting precious time responding to Slewfoot posts. And that I may be wasting my precious time engaging with Big Bob. Crap crap crap crap crap!

The ones who can retire get about 1,000 weeks. I don’t know about you but a week just flies by for me.

[Steve_R]

Originally Posted by Little Red L98.

Some people may not realize that it can suck to be thin. I suck at gaining weight. Just eat they say. Yeah, sure, I’ll just eat. Thnaks.

I was seriously ill many years ago. I'm 5'8" and was down to 112 lbs before major intestinal surgery. I couldn't eat enough to even stop losing weight, let alone gain any.

[Little Red L98.]

Originally Posted by Steve_R

I was seriously ill many years ago. I'm 5'8" and was down to 112 lbs before major intestinal surgery. I couldn't eat enough to even stop losing weight, let alone gain any.

I know the story. Glad you’re at a normal weight now. I have my own little issues but nothing like that.

[dvarapala]

Originally Posted by Steve_R

I was seriously ill many years ago. I'm 5'8" and was down to 112 lbs before major intestinal surgery. I couldn't eat enough to even stop losing weight, let alone gain any.

Drinking Scotch will help with that.

[Little Red L98.]

Originally Posted by dvarapala

Drinking Scotch will help with that.

We know.

[jw38]

Originally Posted by Jughead

There’s an old saying, you can never be too rich or too thin.

I agree that you can never be too rich, but the OP has plenty of money to live VERY well in retirement. You most certainly can be too thin.

[Jughead]

Originally Posted by VITE1

Get your 401k into dividend producing stocks with an average payment of 5% and you never touch the principal and still pull 100k.

Plenty of ETFs and BDCs producing that or more.

Any recommendations?

I’ll also begin taking the required minimum distributions out of my 401(k) probably next year.

[GTOguy]

Originally Posted by Jughead

Any recommendations?

I’ll also begin taking the required minimum distributions out of my 401(k) probably next year.

If you are concerned, contact a financial advisor. Many will give a free initial consultation. Some are better at making money than making it grow. If in doubt, hire a pro for a small fee.

[Yadkin]

Originally Posted by Jughead

Any recommendations?

I’ll also begin taking the required minimum distributions out of my 401(k) probably next year.

You should hire a fee-only financial advisor.

[6spdC6]

Originally Posted by Yadkin

You should hire a fee-only financial advisor.

Get someone that functions as a fiduciary


Fiduciary is someone who manages money or property for someone else. When you're named a fiduciary and accept the role, you must – by law – manage the person's money and property for their benefit, not yours

[DDSLT5]

Originally Posted by Jughead

There’s an old saying, you can never be too rich or too thin.

Not true. Anorexia makes you plenty thin........and dead!

[Yadkin]

Originally Posted by Red Baron

Whoa, whoa, whoa! Now just wait a minute, Mister. Aren't you taking this just a little too far-mer? You want to call off the engagement with "Spongeman"? This is totally unacceptable. I suggest you rethink this immediately, if not sooner!

The Sponge Bob moniker is so appropriate, now that he's sponging off of his daughter, living in her basement.