DISCUSSIONS

I was contacted by my employer regarding my eligibility for the 2024 HR Voluntary Separation Program.

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Anonymous

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I was contacted by my employer regarding my eligibility for the 2024 HR Voluntary Separation Program. My goal was to retire in two years. I am looking for any suggestions on how to make an informed decision (Pros and Cons). Any insight is appreciated.

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  1. Anonymous

    It all rests on finances and your plans for retirement. What is the offer? How does it compliment your retirement?

  2. Anonymous

    Thank you, it is not a great program, but it will take me to one year on my own until I am 65 which does compliment my retirement. Still doing the numbers. With gratitude.

  3. Anonymous

    First of all, draw up two detailed budgets. First: one that meets your basic needs. Second: one that reflects your current standard of living. If the separation and your savings will support you through the two years you need to retire, then it is a serious consideration. If it will only support your basic needs, determine what you are willing to live without before voluntarily accepting. Check with your retirement plan (or SSA.gov if you will rely on Social Security) to get an idea of your retirement benefits today and two years from now. You can also start looking for another job or a side hustle to fill any gaps.

  4. Anonymous

    Good idea, I had not thought of it that way. Much appreciated.

  5. Anonymous

    Please visit with a financial advisor, instead of a bunch of strangers, and get empowered about your situation. No one on this board has any real information about your finances to give you actionable advice.

  6. Anonymous

    Thank you, yes, I am trying to get an appointment asap with my financial advisor. Very grateful.

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