Sunday Thoughts in a New Year
I thought things are getting normalized schedule wise this week...until they're not. I mentioned in a sort of passing way that my retirement may be delayed. I logged into work Thursday morning with a staff resignation effective for all intents and purposes for January 14. This is a position that is quite technical and oversees our data system. Guess who's the only other person knowledgeable enough on the system for complete management? Getting back up was one thing on my retirement "to do" list.
Not sticking around creates such a massive hole; I had a panic attack over it. My boss and I tried problem solving together. We reached a compromise to keep my retirement plans moving while not letting the system fall apart. The plan is I'll take roughly 26 hours of vacation/ comp time every two weeks, plus my every other Friday flex day starting January 8th (average 23 working hours per week), then increase vacation accrual usage from March 5th to April 8 (decreasing work schedule to about 10-12 hours per week), as a phased retirement that will keep me both at full pay plus full benefits. It's a complicated mess. I did a lot of math gymnastics to ensure I come out positive in both time balance and financial benefits.
Doing things this way will save two months of out of pocket health insurance premiums (based on when pay periods end), increase the cash conversion to my HSA by several hundred dollars, and add another $4500 not originally planned to my Deferred Compensation account, plus I'll wait another five weeks to start taking withdrawals. All together I should improve my financial outlook by about $16,000. I lose all that free time in March and early April though, and that is depressing. My youngest is quite upset, feeling I'm backing into work again and worried I'm doing what her dad did- let work overshadow my life.
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My focus will be split between onboarding my replacement who starts January 21st, and managing the data system. Then, by mid March, fingers crossed, the new data system manager will be on board and I'll train them, walking away for good after that. If something else falls apart by then, I truly must declare that they're not my monkeys and not my circus.
To compensate, I'm looking at a short trip somewhere maybe in March, but for sure in April. I have so much I need and want to do at home, so even going somewhere for a long weekend feels disruptive. But, I feel like a little self pampering might go a long way to staying in the retirement mindset. I almost went ahead and booked my plane ticket for November to the UK, to force myself to make sure I go. I paused though; we need firmer plans. I read the seating chart wrong and thought the plane for the flight I want to take was nearly full, when it was the opposite and still plenty of seats available.
If you've read this blog post, I commend your patience with me. I know I'm a one song play list lately, retirement plans every day, all day. I really value getting my mind dumped into words, so know this is another for my own benefit post.
I have this annoying habit of getting a job, learning absolutely everything about that job, becoming indispensible, and when its time to leave giving notice but still being there 3 months later. Which is why I thought, "Don't let them do that." BUT I didn't because you are an experienced mature woman who knows her needs.
ReplyDeleteThis confirms that you looked at the situation, evaluated what you needed and made sure you came out ahead. Losing all that time in March and April will suck, but it looks like some of the things you were concerned about might be lessed by this. It is a soft entry into the retirement world. You don't have to find a substitute job to manage expenses. It sounds like a win.
Be mindful that they put the posting up, interview, and train someone in the meantime. AND it isn't your problem if they can't find someone qualified. They know you are retiring and this isn't a position shift.
And if someone hasn't said it lately, "You got this."
As for your daughter, I lost my Dad at 27. Hardest period of my life and I had all kinds of anxiety about losing my other 3 parent. My stepdad was 78 and had Parkinson's. My mom had enough stress for 12 people. Stepmom was still raising my sister and trying not to lose her house or mind. My suggestion is keep doing what you are doing. In other words do what you need but communicate with her.
I'm not sure I'm coming out ahead but I should get all the vacation and co.p time owed which was not the case withy March 4th retirement date. I'll have to really make sure I do just the work I've committed to and nothing else.
DeleteI understand your work situation, not wanting to leave them in the lurch, but I hear loud and clear what your youngest is saying about letting work overshadow your life. I hope you are able to hold firm to your plan to train your replacement in January, train the new systems manager in March, and then walk away. Not your monkey, not your circus, and you need to take care of you. Hugs.
ReplyDeleteThis exactly!
DeleteI have to hold firm. The overlap of two managers has a 12 week limit and I can't stay later than April 8.
DeleteYour word dump benefits many of us. This change of plans and events is God's way of making sure you feel secure and ready to go into your next chapter of life. Be calm and trust him.
ReplyDeleteNot to be offensive, but I'm not thinking much about any divine intervention in my life these days. I'm pretty much over platitudes and just trying my best.
DeleteThat is not offensive at all. I relate to how you feel about divine intervention as I didn't want to hear it either, and questioned how God could let this happen. It is part of grieving and everyone grieves differently. I'll change my last comment to: be calm and trust YOURSELF.
DeleteI actually think this is an awesome & thoughtful transition plan. While irritating to not be able to go cold turkey, it's a huge financial benefit for a relatively minor (in the grand scheme of your career) addition of some part-time weeks. I agree that having a hard stop where you're retiring either way is healthy, & I love the idea of rewarding yourself with a trip. (Hawaii Planner)
ReplyDeleteI was going to be taking two days off a week starting Monday anyway, so this really is just extending the phased retirement. The difference is this gets logged officially so even if less than 40 hours, I don't lose full time benefits.
DeleteYour company is very lucky that you are willing to change your plans. Personally, I advocate for giving minimum required resignation dates. I've seen too many people strung along and/or treated poorly for "the kindness". I'm glad for you that this is a $16k gain that is a positive in your plans!
ReplyDeleteTake good care.
I'm sort of regretting it too, but then, they wouldn't have my replacement hired. I still have a bested interest in the program being successful.
DeleteAren't they're really only paying you what you have coming to you (unless all of that vacation time is not time that you have already accrued)? I don't know where you work (a school system?) but can't they throw in a cash bonus for all you're doing for them? I get that you want to leave on good terms, but I think they should "sweeten the pot" a little for extending your departure date.
ReplyDeleteYes and no. I'd be accruing more, plus there was going to be vacation hours left on the table as I can only convert 275 to HSA. But yes, this is mostly my accrued or compensatory time.
DeleteOh, and I reread the thought about additional compensation or a bonus...not at all possible.
DeleteBook the flight ! November is going to be a gin filled , fun filled blast
ReplyDeleteSiobhan x
Let's get through your trip and my pet sitting through the 28th, then we can start the planning.
DeleteI understand your decision to continue on, with modifications, to see you employer through this. I did the same, picking up a class last fall to help my colleagues get through an unexpected hiring delay. But now I'm done, and anything that crops up is not my problem. So it'll be for you once you're fully retired. Then head off to the UK, visit Siobhan, and enjoy your time there!
ReplyDeleteI had hoped that if I did more, it would have been down the road on a contract basis but this should work ok.
DeleteIt wouldn’t be life without a wrench being thrown into the works, right?! Im glad you and your boss reached a compromise to make it work and hopefully it will end up in your favor. $16,000 certainly makes it worth considering.
ReplyDeleteI agree Belinda. $16,000 is nothing to sniff at and since it's only for a relatively short period of time it could work out well for Sam!
DeleteI should clarify...the $16,000 isn't cash cash, but the cummalitive of two months insurance, the three additional deferred comp set aside, and delaying 5 weeks of retirement account withdrawal. But yes, it's a lot of value for the five weeks, but that always would be the case with extended time. The true value is being able to work a reduced schedule starting next week through April 8.
DeleteAs the daughter of a workaholic, whose work contributed to his premature death, I understand your daughter's worries, but as long as you've made it clear that you will be leaving on the revised date, won't be drawn into staying any longer, and take every hour off that has been agreed, that should help to ease her mind. Xx
ReplyDeleteOne day at a time. I totally get where DD2 is coming from - she does not want to see you over work yourself. The person quitting did not take anyone into account but themselves which is fine, but it got you into a pickle. I think this says more about your employer/work culture than anything else, to have yourself and another critical employee be leaving so close together. Hopefully the newly reduced schedule is beneficial to you in the run up to your eventual exit.
ReplyDelete