Author Topic: Reached FI - very interesting work situation arose on the way to FI  (Read 3452 times)

pac_NW

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Hello all - on the way to FI, as I consider RE, an interesting work situation has arisen, where I would welcome your thoughts.

Summary - we are FI, but not RE. Only thing not paid off is the mortgage and that is simply because we have an internal debate about the advantages or not of doing so.  Stash is large enough to accommodate our expenses at SWR in the models. We are in our late 40s.

I am still working and want to work at least partially after I RE from the long-haul career these past 25 years. Here is the work situation. Our company is entertaining a liquidity event and as part of doing so is changing a few sr. Management roles, of which I am one, having been told this two weeks ago.  The company wants me to consider a new management role, and has offered the month of July as vacation on the company while they think through the new role, which I will hear about in late July and which likely depends on the investment event later this summer.  I am 90% vested in my shares of the company and have purchased about half of them.  Thus, a healthy liquidity event is likely to mean my options will be worth something. Nothing is a sure thing, and this money would be icing. 

But I have a chance to go RE now.  My sense tells me to take the vacation, see what happens with the liquidity event, and hear them out on the new role.  And then decide. I have proactively asked about negotiating my exit as another path, and while the company said that was possible, they want me to consider a new role instead. I have been with this company for over 10 years, believe in what we are doing (aka giant loyalty thing going on), and generally like my work. Importantly, over the past 2 weeks as I transition my role, I have had less to do and that has generally driven me batty (I figured out some time ago that I will need to stay active and contributing in some way during RE).

I want to keep thinking there is a hitch somewhere.  My relationships are good and my contribution highly valued, but still have a "why now" question in my head. I am generally paranoid so perhaps it is just my nature to question this.

Right now, my lens says "free" vacation while getting paid, potential interesting, new role if I decide to keep working, watching what happens during the liquidity event this summer, and if I don't like the new role, negotiate my exit.  What is not to like?  Too good to be true?  Or is this just a confluence of events resulting in to really advantageous position?

What would you do?

Suit

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Re: Reached FI - very interesting work situation arose on the way to FI
« Reply #1 on: June 29, 2014, 10:34:30 AM »
Wow, this sounds like an awesome position to be in! I think you've got the right strategy, you can always leave later if you don't like how it turns out but take the vacation and consider the new position. Good luck!

Exflyboy

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Re: Reached FI - very interesting work situation arose on the way to FI
« Reply #2 on: June 29, 2014, 10:36:00 AM »
You nailed it.. July is here!..  So take the vacation and see what they come up with.

Then see if you can tie a severence package with you NOT accepting the new role.

Assuming thats what you want of course.

Frank

bacchi

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Re: Reached FI - very interesting work situation arose on the way to FI
« Reply #3 on: June 29, 2014, 11:19:04 AM »
Is this purely an IP buy or does the suitor want senior management to come along for the ride? In other words, the payout may have bonuses if the "key players" don't quit in less than a year.

If you quit before the liquidity event, can your company buy back some of your shares? Read your agreement. I have been in companies where ISO grants could be forfeit upon employment termination.

boarder42

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Re: Reached FI - very interesting work situation arose on the way to FI
« Reply #4 on: June 29, 2014, 02:23:55 PM »
my only issue is if they are getting rid of some people and you are planning to retire and one of your friends is let go.  how would that make you feel  knowing he/she could have had your job?

FrugalZony

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Re: Reached FI - very interesting work situation arose on the way to FI
« Reply #5 on: June 29, 2014, 03:27:06 PM »
To me it sounds, like you made up your mind already!

This looks like an awesome position to be in!
Congratulations!

 

Wow, a phone plan for fifteen bucks!