Got laid off last week, never seen one this bad, but I and many talented co-workers got swept up in this mess. Oracle really sc--wed up imo. It's really soured me on the tech industry. I'm in my early 50's, ~$4 million net worth, wondering if I should try this rodeo again, or just be done with it - go find something more meaningful to do (earning far less money) and just enjoy life. What would you do?
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@OP I'm in a similar situation. I'm seriously considering just retiring, house paid for, cars paid for, ~$4M in various financial assets in my late '50s. Who knows, maybe I'll just find a low pressure job for the next four years and then just call it quits.
Many of the most dynamic and savvy people I work with are on their Early 50s... I don't get this hustle culture thing...
That said, in your situation, I'd be on Fi/Re for sure!😀
Best of luck on times to come!
You've earned an amazing situation for yourself.
Yes, go ahead and pivot to a passion job of your choice. Keep learning and growing while meeting new people.
$4 million! Jeez, that’s an expensive dinosaur
Retire. I would in a hot minute, then work on that screenplay.
@c9 And that day will arrive sooner than many think. One day employers are blowing in your ear, the next day they will have nothing to do with you, because "reasons"
@d4 For what it's worth a lot of young people were laid off. The rumor mill is that even some new hires who were still going through orientation were let go.
What is also true is that the current job market is really tough, even for the young ones. There are lots of tales of woe on glassdoor, of young coders who were dejobbed a year ago and are still unemployed.
For the OP: You have $4 million saved? Unless you are a big spender you should be able to live very comfortably on the interest alone. Fidelity SPAXX (US treasuries) pays over 4%
Oracle aging laid off employee is like an old pro tennis player who can’t win match anymore: time to retire
You could completely retire. Put some of that into cash flowing real estate in good markets, you'd have a self-pension for life. Congrats!
No, it’s AI that is replacing peons like OP
Oracle and tech peons are expendable and being replaced by younger and cheaper Indi.ans
You have been replaced by younger cheaper hungrier H1.Bs; time to retire
@cs Larry isn't in tech. Larry is in money collecting
The only issues I can’t seem to solve are medical,vision,dental.
Larry is 81.
Best days of tech and ERP are over. Only more layoffs and AI going forward. In my early 60s and retiring next year - I feel sorry for the young folks having to deal with this crazy economy and uncertainty
I'm in a similar position and if I got selected for RIF I'd be retiring.
Unfortunately, it's usually the case that if you want to be selected you won't be.
It's nice to have choices though.
I was laid off with half of my team last week. I am close to 60. So for me, it is simple. I retire. I will make some money off high tech by trading stocks now.
I can say having been RIF'd recently at the big O. It's not easy, it's not fun and yet you can do it with some planning and effort. Corp world is over us at a certain age, find your joy and find some gig type work that may put money in your jeans. Find peace, be safe and live! That's what I'm trying to do.
Ain’t worth it.. if you’re debt free then move to cheaper place and enjoy retirement.
OP: at over 50, your career in tech is over; move on..
In your shoes, I would call it a career. Spend the time doing things you want to do. Manage your money thoughtfully and you’ll be fine.
Yes. Retire. You're done easy peasy