I need a Certified Financial Planner. I was informed yesterday my role was being descoped from SR Director to Director with a corresponding pay cut due to reorg and downsizing, and I would be reporting to a former peer I do not get along with. Or take a package. I opted for the latter. It was a rollercoaster. 7 great years. 1 horrible year and 2 years struggling. I will miss Nike and some great people. Lucky my age plus years of service allowed me to formerly retire and vest my stock keep employee discount. I guess I will have to pay for Obama Care health insurance for my wife and I after 6 months Paid from Nike. Live on unemployment after severance and 401k savings and stock sales for 5 years and sign up for Medicare and collect SS at 65. Need to figure out what to do with taxes etc. Nothing lasts forever. Off to Bend, golf and cocktails at 3 pm. I am exhausted but relieved. No more game of thrones.
12 replies (most recent on top)
I second Jennifer Gutridge at McGee Wealth Management. Has a ton of Nike clients and is excellent. She is fabulous at managing panic…
Good luck on the retirement. Shopping for healthcare options on Marketplace is better. You will have COBRA options too, but it is super expensive. I was in this situation last year and found cheaper options on Healthcare Oregon marketplace. I ended up saving $1k/month.
I’ve had great experience with Stoneridge Wealth Management. Local team that historically has outperformed other brokerages within the LPL network of advisors. Amy or Van would be my suggestions as they are senior stakeholders.
https://www.stoneridgewm.com/
I’ve had very good experience with Fidelity. Can give you a name, but tbh they’ve all been notable over there. Btw that’s just a good, solid, company that’s never having layoffs
Hey, don’t know you but wishing you a happy retirement. You deserve it.
What is the years of service plus age calculation to get retirement status?
Just curious, what kinda nest egg are we talking about? Paid off primary, one rental home, 1M in 401k used to be my goal. Hear that number is hard with inflation.
You'd need to verify, but I think you'd have 12 months of COBRA that you could pay beyond the 6 months paid by Nike before you had to look to the Health Insurance Marketplace.
Post this question on LinkedIn, and you'll get no shortage of responses. Just like asking the question, "Does anyone know a good Realtor?", or, "Does anyone know someone who sells Younique?"
But seriously, best of luck to you. Enjoy some peace and serenity in retirement.
You get to keep the discount, including family, at just 5 years of employment.
appreciate the honesty, thank you
Take Care, Love