so what would you do....?

[Admiral Huddy]

I'm 49 and I've been working in IT development for 30+ years.

I've been at my current company for 18 years and facing certain redundancy in the next year or so as the company closes it's UK dealing.. Nothing to do with Brexit, this has been going on for years.. So I'm guaranteed the maximum payout of 12 months..

Mortgage is all paid off, kids are in their 20's and would like to probably live a little.. then again, I like the comfort of a regular salary.

Yesterday, I had my first interview for as long as I can remember.. Went very well IMO and i was impressed with the company. My development skills have got a bit behind it has to say and I got a bit caught out with some "On the spot " maths questions but hey ho.

Would you?

1. Stay, take the cash when it comes and see where life heads?

2. Take the side ways move to a new job that will most likely see me out to retirement?

I've got it quite comfy here.. My daughter raised a valid point over dinner last night saying she's not convinced i'd be able to cope with a different environment now that I've been here for so long.

I'm getting to the "point of no return" when i get to old to become an employable age..

No real answer, but i'd be interested in people thoughts and opinions.

 

[dowie]

Well firstly you're not too old, especially as a developer where your years of experience could be valued. I've worked in the past with new hires who were older than you.

Unless you've got good reason to be worried about finding a new role or you find a role that pays significantly more I'd be tempted to wait a while for the redundancy payout. I'd still perhaps go to some interviews for practice and also to get a good idea of how much you're worth in the market at the moment and how easily you could get an offer when the time comes - perhaps if the offer is really good then you'll take it anyway.

If you're a bit rusty on some topics then perhaps use resources like coursera etc.. to refresh your memory on the sort of topics that interviewers like to ask - algorithm questions etc.. or that maths area you were caught out by.

 

[brendy]

Wait for the golden bullet. There will always be more jobs down the line. Whether you were born 1966,67,68 etc it won't matter.

 

[A2Z]

Stay and get a nice payoff.

 

[AHarvey]

pay off and travel for several months. Do those things you always wanted to, see the places you always wanted too.

That will be what you remember in years to come. Life is for living!

Nothing stopping you looking when you need to or even starting something up yourself.

 

[dowie]

pay off and travel for several months. Do those things you always wanted to, see the places you always wanted too.

tbh.. if someone wants to go travelling they ought to just go... if you only go once you've waited for an excuse to do it then you may find you've waited too long

granted once something like this comes on the cards then the money could be useful however we don't know if the OP had always wanted to go traveling somewhere

 

[Bickaxe]

Wait.
You say its a year or so and you like a regular salary so stick with it and then take the payout later. Could be another few years before it actually happens so you can use that time to get up to speed.

 

[peterwalkley]

You sound like me. I'm 50, also 30 years development experience, mortgage paid off and two daughters, except my 2 still school age.

I would hold on for the redundancy too. A years' salary, with the first 30K tax free gives you a really good cushion to avoid rushing into a decision.

With the interview you have to ask yourself if you would have gone if there wasn't the stimulus of your current job ending and is that new role really good enough to give up the years salary. There are always new jobs in development, especially as you are near London.

 

[Maccy]

Stay and get the redundancy money mate.

 

[mid_gen]

Stay, take the redundancy when it arrives, then go travelling before you're too old and past it!

Alternative, start fishing for a new role abroad somewhere. With your experience you could land a tasty chunk of money in Hong Kong to top up the retirement fund, while enjoying the tropical weather and going diving in the Philippines on the weekend.

 

[Hades]

Stay and wait for the payoff.

Spend the next year deciding what you want to do after that and train yourself on it.

 

[Nutty_Death]

Wait for the payoff. You've got 12 months of salary that you can use to enjoy yourself and then find a new job.

 

[Wink]

100% stay for redundancy

 

[Deleted member 77746]

100% Stay for redundancy. Then see what life brings.

 

[llamadal]

Stay and get the money, then take your time on finding the next role with a healthy bit of cash in reserve

 

[Tunney]

What's the staff morale like at your current place? Do you still enjoy the job?

I've seen some people who've stuck around until the bitter end for compulsory redundancy and it's sapped their will to live. They found it very hard to get motivated to find a job afterwards.

It really depends on what kind of person you are really.

 

[esoteric]

I'd wait for redundancy.

 

[Freefaller]

I asked for early redundancy as it was on the cards being that my last job was project based, and they agreed to it, so there's that option potentially. But other than that 12 month pay off at a reasonable salary is definitely worth it in my eyes.

 

[randomshenans]

Definitely wait. 100%. When will it likely happen again in your lifetime? That's a great chunk to do what you want with, and as you know it's coming, any shortfalls you think you might have getting something else after, you can use that time to get into whatever you want to learn/ brush up on.
Hell, software development will never be not in demand though and you could very well find a job that didn't require you to go into an office (if you look hard enough online, you will find some great paid positions!) and you're still sitting on 12 months salary!

 

[mattyg]

Could you not start out on your own? Obviously very very small scale at the moment and then the big push after redundancy. That way your already set up and you have some money behind you.