Every so often we hear from those that retired in November 2022. This week marks the 2-year anniversary. Time to reflect and share with us!
How is live after Ford? What advice would you give?
19 replies (most recent on top)
Interesting post OP. I Just returned from a wonderful holiday with family in the city where I grew up and was asked by a family member how I liked retirement. Love it and no stress or worry to sum it up; you don't realize how much you think about work when you are not at work because of the constant changing strategy by top leadership. I was fortunate to start in the late 80s (35 years) and selected the lump sum option December 2022, best decision ever. The worst part is healthcare cost since I'm too young for Medicare and the company doesn't cover the full cost so you have to watch your income to qualify for more government subsidies. My advice, save as much money as you can and live below your means and keep learning. With no pension after 2004, its vital you have a solid financial plan. Get financial advice from a qualified professional early. Get your MBA, Masters or PhD and let the company pay for it. Take on challenging assignments and don't be afraid to speak-up. Once you stop growing with the company, its time to leave. All the best to you all still fighting the good fight, don't stop caring otherwise we are all plucked.
I retired in Nov 2022. I have a higher quality of life without all the crazy stress my old boss used to put on me. I get asked a lot “How do you like being retired?”
I always give the same answer….. I LOVE IT, truly enjoying every minute of it.
I retired in November of 2022. had a good pension after 30 years, but it was still a gut wrenching decision. Went to Florida in the keys to clear my head. Got hired back, make way more money without the stress. I am an engineer and was always hands-on to the work, spent my time at the plants and suppliers, and never was a desk rat. There are still a lot of great people at Ford, you have to find your place and be somewhere where you like what you are doing. I always have and still do, and got where I am by NOT having a sense of entitlement!
My dad was let go from Ford in August of 2022. My dad and mom sold both of their Ford vehicles. I was surprised, but my dad said it was because they only gave him 3 years for the A-plan. HE swore he would never buy from Ford again. He did get a new job after 3 months of looking. He is making more money at his new job. He seems to be a lot happier with less pressure, thank goodness. Now, he does not have to worry about will he have a job next year and every year after that when he was working at Ford. I am so proud of him.
I took the buyout in 2021 after working at Ford for about 16 years. I did not and never had a pension.
My secret to a good retirement is saving money, no matter how little I could afford each paycheck. I started my first IRA while I was in the Air Force in 1982, At the time I was making about $540 per month and over about 7 months saved $1000 for the deposit.
Over the 45+ years I worked, I had quit a few jobs and seen some lean times due to layoffs and other setbacks.
Also, due your research and find a competent financial advisor. that is key to sustained growth in your portfolio.
Given my IRA withdrawals and SS I make more money now than I did my last year working at Ford.
Lastly, I have always lived within my means, even now that I am retired.
All is good... Lump sum growth due to great stock market returns. This might not be the case long term but I have a financial plan in place and we live within our budget. So far we are able to live on about 60% of what the max withdrawal of our plan states.
I have 14 yrs to MRDs and have started to convert some of my IRA to Roths while still staying in the lower tax brackets. Some have suggested converting more but a little at a time is my plan...
@1tmg+1vIyr0vC nope. No answer given and the department is hiring, from the outside.
Ford contributes an amount to 401k as an alternative to a pension. Isn't that better than a pension as you can invest it with better return?
"i was cut 11/12/24,no explanation given. even my ex husband says I seem so much happier."
Glad to hear your mood is up! They didn't even bother with a BS story as to why?
"If you don't have a pension, don't retire."
Tone deaf advice. Really? Who has one of these anymore? Military lifers or people who have been around forever. This advice is worthless other than instructing people who not to listen to. If you got bills don't retire..Lot more nuanced then that. If your going to post advice, please make sure its not trash. You probably failed to plan appropriately and think that's what everyone did. Hopefully you straighten out your business.
Not saying this lightly, you have no idea how toxic working there is and how badly stress affects you until you are away from it for a year. Fact is that you are nothing than a number to them and they have no respect for you or care for you.” People are our greatest asset” is what they claim. Wonder what people they’re talking about. Just the fact Worrying every six months about loosing your job was so unhealthy and stressful. It really bothers me that I feel this way towards a place I worked for 30 years. I guess it’s because I was there when it was an awesome place to work, years ago. Not any more. I personally feel a lot more healthier now. Only bad thing about retiring is the cost of healthcare. If you can financially afford it retire and don’t look back. There is so more to life than giving it to them.
@1xaj+1vIyr0vC - if you plan right (live off your savings for a year or two), you could pay very little with healthcare.gov
i was cut 11/12/24,no explanation given. even my ex husband says I seem so much happier.
I retired November 2022 at 57 years old. I am extremely happy, all the negative energy from working at Ford is gone. If you can afford to retire, do it. I have not stopped smiling,
Make sure you can afford health insurance premium and deductible. It can cost you $20k per year.
Over 55, no pension.
The boomers always considered us too young and inexperienced. Now they’re gone and the millennials think we’re too old. So we’re basically unemployable.
My neighbor retired in November 2022. He is the happiest that I’ve ever seen. No longer the stress and constant beatdown by his boss.
I retired in November 2022. Don't retire if you still have mortgage, car payment, loans. If you don't have a pension, don't retire.
Happy Thanksgiving!