let's say you are 58 - would you accept an early retirement?
i am curous about how people are thinking about the topic (more than helping me make a call).
you can assume anything you'd like (e.g., having or not having enough saved, age of kids, etc.)_
I do not recommend it unless you really want to stop working and retire. Also, ok if you are already planning to quit for another job.
At 58, you are unlikely to find another job that pays as well or at all. You may find retirement boring.
You should stay and strive for a better work life balance. If you are financially set for retirement and able to consider erp, you can stop stressing out about work. Enjoy the unlimited pto. The company eventually lays off everyone so you are unlikely to miss out on an exit package.
@b2 Exactly. I was LR'd from Cisco at 53. I went to work for another tech company for 6 months and then decided I had enough. Tech used to be fun. Not anymore.
Your shelf life expired a few years ago if you are 58 working in tech. You can't be that productive. You should leave
Where do I sign?
I’d take the money and run.
No ER, but whenever you get LR’d you would figure it out just like rest.
You plan all day until one is punched in the face.
LR'd in early 50s. Retired shortly thereafter. Active trader for most of career. Look at investing as your second job. Once LR'd you will then not need to find job with same income to replace Cisco salary. You can then work more casual even part-time job; or no job at all. Key is save and do not buy stuff you do not need while making the big bucks. So many very smart people I have worked with over the years made the big bucks but just also spent like no tomorrow. Now they are also LR'd and can't float the mortgage and ever-increasing property taxes. Do not be a slave to the money.
I was expecting ER but received LR in August. It is the same to me.
what do you mean "early retirement"? Cisco doesn't offer pensions
you are really just talking about a buyout
what you do (or don't do) afterwards is up to you
its all irrelevant though because Cisco is just doing plain 'ol LRs and no one will be offered anything special
Yep. If my kids are independent or close to it and have good savings i would. What's an additional 3 4 years when you know if you get laid off at 58 it's practically impossible to find another job. I would take ER