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I am planning to achieve Financial Independence, Retire Early (FIRE) by early 2025 at the age of 52.
How much notice should I give my employer about my intention to retire?
I want to ensure a smooth transition for both my employer and myself.
What are the best practices or considerations for deciding the length of notice?
I do like my boss and the team I supervise and don’t want to leave them in a lurch.
Any insights from those who have been through a similar experience would be greatly appreciated.
DavidAre you waiting for anything like a bonus to be paid-out? Is there a possibility of layoffs or severance packages being offered at your company?
Are there any annual tasks in your role you are looking forward to or dreading?
Would you like the option of coming back as a contractor to support your old team?
I would factor those into my decision.
For me personally, I would give notice after my previous year bonuses were paid and before the next dreadful work task was due to be executed.
In my role, I have predictable and recurring tasks I don’t much enjoy, so I would depart before having to act on those.
Most states in the USA are “employment at will” and you can leave or your employer can fire you at any time.
Two-weeks notice is the minimum you should consider giving, but understand this is a pre-planned departure (not like a switch to a different employer)
I would start having the discussion sooner than that so they can possibly hire and train a replacement.
But good for you on getting to the finish line!
Tom1) what does your contract say?
2) based on the minimum notice period in 1), what are you personally comfortable with in terms of going over and above that?How long are you prepared to stay for a handover/transition?
Kyle2 weeks is appropriate. If they need a knowledge transfer that takes longer than that, they will let you know
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