thanks for the responses, I'll be speaking with a few colleagues I trust and make a decision over the next few days. The numbers are one thing, but it's the emotional attachment to the work and the people over many years that's difficult to leave behind. As a rational and objective person I've surprised myself by agonising over this one.
Leaving a great job
- Thread starter Oscar
- Start date
Father-out-law had a similar experience, but with less choice. He wanted to work into his 70's, loved it, but work situation with an 'interesting' (she's been in the papers for it) boss made his situation untenable. He now works for himself in a related field, basically as a consultant, so he keeps the social networks but gains the ability to work at his own pace. It's been a very positive change for him, perhaps something worth considering is asking if they'll have you back part-time or similar.
Hi Oscar,
Perhaps this is the most telling statement you articulated: it's an asset.
And as we all keep telling each other, "Don't fall in love with the asset" (be it IP, Shares, Gold, whatever).
And just as some of us put blood, sweat and tears into renovating a house or developing a block, you have done that with your job.
But at the end of the day it was to build up that asset to generate income or to sell it (I see "selling your job" in your case to be taking the package)
Your dilemma at the moment reminds me of where someone has built a house from scratch and it is generating great rent. But then one day, someone offers to buy it off you.
The rational mind would calculate the PV of the cashflow over the next X years..... etc etc
But yes, it's part of you and hard to let go.
I think I can emphasise somewhat - while my own career on paper is 25 years with the company I work for, my involvement with the place is since I was born. Both my parents worked for this company - they met at work and pretty much got married at work. My father moved us to Australia when I was 5 - to work in the first subsidiary the company was starting in Australia. The company bought a site and started building a factory. We started here with 30 people, half of them expats from the country I was born in. Far from my extended family, these people would become my surrogate aunts and uncles, and the first MD and his wife pretty much took the place of my grandparents. Over the next decades, we would build up to 1,200 staff with offices all over Australia.
So now I too am in a situation, where there is a generous package (nothing like yours though!!
) on offer, and a voice in my head saying "when do I call it quits?". I too enjoy the job, it pays well for the (lack of?) effort I put in, an asset and tool for serviceability of loans. I am still at the site that the company built when we moved to Australia - but earlier this year, the current execs decided to sell the site off. I look around and perhaps unlike in your situation, many of the "old timers" have gone, and the closure of the site might be a fitting time to go.
I suspect it is much harder for you to jump "off the moving train". However, as you yourself and others have said, I am sure your talent and skills will be in high demand - perhaps even as a contractor/consultant to the very company you leave. And if you want a change of career, I reckon I can get you a gig as a lecturer
I am sure you will make the decision that is right for you.
The Y-man
I think I can emphasise somewhat - while my own career on paper is 25 years with the company I work for, my involvement with the place is since I was born. Both my parents worked for this company - they met at work and pretty much got married at work. My father moved us to Australia when I was 5 - to work in the first subsidiary the company was starting in Australia. The company bought a site and started building a factory. We started here with 30 people, half of them expats from the country I was born in. Far from my extended family, these people would become my surrogate aunts and uncles, and the first MD and his wife pretty much took the place of my grandparents. Over the next decades, we would build up to 1,200 staff with offices all over Australia.
So now I too am in a situation, where there is a generous package (nothing like yours though!!
I am still at the site that the company built when we moved to Australia - but earlier this year, the current execs decided to sell the site off. I look around and perhaps unlike in your situation, many of the "old timers" have gone, and the closure of the site might be a fitting time to go.
sometimes i miss working there as i knew the people and the systems and the process. the package was generaous as well but it seems like the place is tanking. you could better off take the package before there is nothing left. i still don't understand why they decided to sell the site, they would have better off develop it even if it was not in their line of work.
In my book you already know the answer. You just need a gentle shove to reinforce that you are on the cusp of the correct decision.
You are are loyal servant who has invested a lot into your role/company and looks like you have had plenty of enjoyment along the way. The fact that you say that the timing seems to be right means either you have taken things as far as you can in your role and now seek new challenges....or you see things differently to some of the people you report to and may have lost an element of professional respect for them in some sense. Maybe both ?
If you are as good an operator as I think you are I say take the deal. It will feel funny readjusting in the first six months but you will have no regrets as new doors open and take you down a new and exciting path. Time to take a risk, and you can afford to do so.
This i can relate to,take time off and get some ME time,yes ME time.
21 years in the same role,so a ME time off to reflect is in order,be it x amount,whatever is needed.
Good luck either way.
Appreciate the words of wisdom from all your experiences and viewpoints.
Well it's official now. I'll be leaving the "company". It's a huge burden lifted and actually feels really good. All confidential at work so I couldn't speak to my team but almost in tears as I walked out of the factory knowing the next time I drive in I have a finite time left. The emotion quickly turned cheerful as I attempted to count the $$ in my head.
I even have job offers to consider for the new year already. For now though, I'm really going to enjoy the rest of this year and spend a lot of time back in Australia. I plan to burn through a lot of cash having fun for a couple of months and start fresh in 2015.
And Y-Man - thanks for your inspirational post - kudos to you...
Well it's official now. I'll be leaving the "company". It's a huge burden lifted and actually feels really good. All confidential at work so I couldn't speak to my team but almost in tears as I walked out of the factory knowing the next time I drive in I have a finite time left. The emotion quickly turned cheerful as I attempted to count the $$ in my head.
I even have job offers to consider for the new year already. For now though, I'm really going to enjoy the rest of this year and spend a lot of time back in Australia. I plan to burn through a lot of cash having fun for a couple of months and start fresh in 2015.
And Y-Man - thanks for your inspirational post - kudos to you...
You already know what you are going to do,just walk out the door and don't look back,no one knows how many weekends you have left in ones life...
Did a bit of calculations... ouch... that hurts.
Yes it's always a good line to bring out every time I have a bbq with the few old mates I have gets everyone thinking
,i'm glad I'm no good at numbers..good to go in the first half of the financial year so taxation wise you can plan for it. you would have at least 100K+ tax free from that tax figures (due to genuine redundancy tax laws)
but with 7 figures - i reckon you wouldn't need to work this financial year.
but with 7 figures - i reckon you wouldn't need to work this financial year.
Great to hear, I am sure you will never regret it!
Do you play golf? Might be time to take it up
My Dad never really played until he retired, now he bimbles around a course 2 times a week when the weather is nice.
My Dad never really played until he retired, now he bimbles around a course 2 times a week when the weather is nice.
We had a similar choice to make and went ahead and did it
I am 54yo. Along with IPs and shares, we owned a small business that was 50% of our asset base. It had provided us with a substantial income for many years, but owning it meant that we were not very diversified. Given our age, my wife is the same age, two years ago we decided that if anything were to negatively affect the value of this business, the opportunity to diversify its value into other assets might disappear. We decided to sell the business. Owning the business involved being a leader of my staff, a friend to my customers and fun, regular contact with many and varied people. My lament to my accountant whilst he was encouraging me to sell went along the lines of...."what if what we diversify into goes down in value?" His response was..."what if it goes up?"
As it turns out, I have missed the human contact of my business, and the buzz of being the boss. But not working has also allowed me to refocus on what is really important.And at this stage, for a number of structural reasons, mostly relating to tax issues, it has certainly not harmed us financially.
I am 54yo. Along with IPs and shares, we owned a small business that was 50% of our asset base. It had provided us with a substantial income for many years, but owning it meant that we were not very diversified. Given our age, my wife is the same age, two years ago we decided that if anything were to negatively affect the value of this business, the opportunity to diversify its value into other assets might disappear. We decided to sell the business. Owning the business involved being a leader of my staff, a friend to my customers and fun, regular contact with many and varied people. My lament to my accountant whilst he was encouraging me to sell went along the lines of...."what if what we diversify into goes down in value?" His response was..."what if it goes up?"
As it turns out, I have missed the human contact of my business, and the buzz of being the boss. But not working has also allowed me to refocus on what is really important.And at this stage, for a number of structural reasons, mostly relating to tax issues, it has certainly not harmed us financially.
Oscar, can I please borrow your resume? And when I say borrow, I mean impersonate.
Enjoy your time mate. Sounds like they were lucky to have you as long as they did.
Enjoy your time mate. Sounds like they were lucky to have you as long as they did.
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