Most workers look forward to the day of retirement, but we always assume that WE will decide when that day will come. Sometimes, however, it's the employer who offers the suggestion that now would be a good time for retirement.
An early retirement incentive offer may be optional; in that case, you need to carefully consider whether to accept.
If it is not optional, there is no decision to make, but there are certainly plans to work through and preparations to make.
Before making a decision about accepting an early retirement incentive offer, it is your job to:
- Read and listen carefully,
- gather information thoroughly, and
- evaluate your options critically.
There are several things to consider as you work with your employer.
A decision about whether to accept the early retirement offer is generally a very complex one. As you evaluate the decision, keep in mind what your retirement goals were before this offer came along. Is this offer compatible with those plans?
Following are additional topics to consider:
- Is the offer really optional? If you decline, what would your future with the employer be like?
- What other employment options are available to you?
- Will you have access to group health insurance? Who will pay the premium?
- Compare the two financial pictures - early retirement vs. scheduled retirement.
- Do the intangible benefits of early retirement outweigh the financial costs?
If you decide to accept >>