Were you forced into retirement?

I was given the option of making a major move or accepting a severance settlement as part of a corporate merger.

I chose the severance package and I also chose not to find another position.

I don’t really think of it in terms of being forced out or of being a victim.

"It's not what happens to you,
but how you react to it that matters." - Epictetus
 

I just finally decided it was time. It fit my retirement financial program, and I found that it wasn't fun anymore. Having been in key decision making roles for most of my career I had grown tired of the pressure that brings. I announced my intent to retire, and then handled the process of hiring my replacement and introducing that person to the nuances of the position. The most important point for me was that when I walked away on very good terms I didn't look back, no misgivings and no regrets.
 
My wife started chemo late March of 2020 right when Covid was starting and I was working in retail seeing many people during the day so her Oncologist suggested that I not work for a while. No one knew how long Covid would last so he thought maybe a month or two. Two months turned into four and then six months. Annie was still not well enough to leave on her own so I called and told my employer that I wouldn't be back. I had gotten to where I was only working three days a week at that point, which is what I wanted, so losing three days pay a week didn't hurt too bad.
I was 66 at the time.
 

Youngster said:
Was your retirement of your own fruition or were you forced into it? If you were forced into it, did you come to realize it the best thing that ever happened to you?
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What a great question:
My hubby is 14 years older than me, we owned a restaurant/catering business. We lost it during Covid. As stressful as it was to be "forced", we look back now at it being the best thing to have happened. We would never have retired, as we both truly enjoy what we did and ran a great business. Suddenly, we had time to go to our granddaughter's dance recital. We were home and was able to babysit the little guy.
We eventually started working again as consultants to an event space but kept shorter hours, no longer wanted to sacrifice our personal time
 
I retired twice - the first time at age 38 after 20+ years active duty in the Army. Second time at age 62 -- by that time, I was completely fed up with the BS, the commute, and the "go-along-to-get-along" mentality so common in the workplace. That was 6 years ago and I've never looked back. I'm not rich, but doing OK even in this inflation we're all seeing.
 
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My boss retired, and they brought in a new person. He started bringing in some of his former coworkers, and I saw the handwriting on the wall.
I waited until my profit sharing was deposited in my 401k, and bailed.
Two days later we left for a 14 day tour of South America
I never looked back.
 
We were both forced out of working. Husband took Social Security at 63 due to declining health. I only work about 14 hrs a week though I'm paid for 24. I sleep or go onine the other 10 hrs. Contract also includes charging my car at work. Anticipate this job lasting 2-3 yrs (Caregiving) I add $1200-$1300 a month to our 75k savings (invested in CD's)
When I hit 60, my former employers retiree health plan can begin. Covers 80% of any cost for $30 per mo. Free basic medical/dental is provided for me at the IHS Clinic yet they've always billed my insurance. No Part B for me at 65, it's too costly. His Social Security barely suffices meeting our basic needs.Food is otherwise, our largest bill so that needs reduced by expanding the gardening we do. A few carpooling trips w/neighbors to Costco for their $5 chickens, paper goods & more, is something we look forward to. I highly suggest retiring early if you feel you can, or semi-retiring is just as good. Both may allow ample time for exercise and eat organic to ward off diseases before it's too late.
 
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I had been thinking about cutting down on my working hours and easing into retirement but, Covid hit and changed everything. By the time we emerged into the post-Covid world, the company I had worked for no longer existed and I had adjusted to my life outside work.

I couldn't imagine working now but, I know that lots of people do not have that choice and I consider myself fortunate that I was able to choose not to return to the workplace. I still meet up with a group of friends I worked with and we often sit and watch the lunchtime workers rushing about, it seems such a long time ago that we were part of that crowd and now, here we are, just watching the world go by. :)
 
xavier887 said:
Just totally relate to that. You’d think things could never be so different, and everything that happened with Covid. But it sounds as if you’ve really done the best with it. But to find that balance and time with friends is so important. I think a lot of us have woken up to the understanding that there is more to life than spending our days slaving away on something we aren’t truly passionate about. You can see the hustle and bustle from the sidelines and see things in a different way. I hope you and this next chapter are filled with the little moment of it 🙂
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Thank you @xavier887 and welcome to the forum :)

I agree, when you are used to the routine of a working week, it is difficult to imagine a different life. I can understand why people who returned to work full-time after Covid found it difficult. I did miss the routine and the social side of working, I think most people do so, you are absolutely right about friends being so important. (y)
 
Life is a collection of choices, aside from health which can be good or bad and to a large degree, beyond our control.
I can't speak for others but I worked for a paycheck in order to have a roof over our heads and food to eat. I would have had to have a pretty crappy family if my "choice" had been to enjoy working more than spending time with my wife (only had one) and kids (4). As far as friends go, we have our share, but most have had no connection with my occupation.

Working to support your family is a necessity, if you're a conscientious person, but working to amass more money. beyond what is needed, puzzles me.



 

DaveA said:
Life is a collection of choices, aside from health which can be good or bad and to a large degree, beyond our control.
I can't speak for others but I worked for a paycheck in order to have a roof over our heads and food to eat. I would have had to have a pretty crappy family if my "choice" had been to enjoy working more than spending time with my wife (only had one) and kids (4). As far as friends go, we have our share, but most have had no connection with my occupation.

Working to support your family is a necessity, if you're a conscientious person, but working to amass more money. beyond what is needed, puzzles me.
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I can't speak for others, but DH & enjoy our work. That wasn't always true, but when we semi-retired about 8 years ago, we couldn't afford to fully retire so we worked some things out with the two large, longterm (I'm talking decades) customers we wanted to keep.

Our work is now limited to the aspects we always enjoyed most. Overhead is nearly zero because we sold off our stock, closed the warehouse, have no employees, and work from home.

This time of year we each work 4-6 hours hours a week, at most. A few months a year, that number triples. We schedule work around trips, time with our kids and grandkids, and other enjoyable pursuits - not the other way around.

Would either of us be happy working full time including daily commutes at this stage of life? Definitely not. We're very fortunate to be have been able to tailor our work so it rarely interrupts the rest of our lives.

I think more seniors would enjoy part-time work if they could arrange a similarly sweet setup.
 
I retired from my full time job of my own volition.

I ended up working part time for my insurance agent. I loved that 3 day-a-week job and it paid for my horses annual hay.

I had to quit for health reasons - my boss said it was ok if I was late for work and I said I am not from the generation that thinks being constantly late is ok. It was one thing when the flock of wild turkeys wouldn’t get off the road, but “just being late” is not who I am, so I quit.
 
Yep forced out. Too many injuries and the last big one doomed me. Despite me passing my medicals and physicals, including exceptional results, they guided me out the door. Nice offer of incentive and early pension (full pension plus disability extras, if I left 2 years early. Didn't even have to think about it.
Don't regret it to this day. Allowed me to complete education, travel, and live where we want.
But...I absolutely 100 percent unequivocally miss it. Best times of my life, ever the dangerous times!
 
Nope, I was not but my wife was sort of forced out of retirement. She was told that if she worked another six months she would be laid off into retirement. This gave her employer time to find and train a replacement and she got a nice layoff bonus. Hard to turn that down.
 
I would love to be forced into retirement. My divorce devastated me financially; I'll never be able to retire, will just have to keep working until I drop. But my work is flexible; I've been an independent contractor for nearly 30 years, so I hope to get a laptop and at least do some traveling at some point.
 
Yes, general lay off. It took me almost a year to regroup. There is no way for me to compete with 30 year old PhDs with no personal life. But I talk to most of those who reach out to me. Life is good now!
 


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