Back story: I am 61, and have been working at my current company (financial industry) for about 5 years. In addition to base pay, they pay a bonus January 31 (up to 25% of base) depending on how well the company did the previous year. We don’t hear about the bonus until mid-January. They do yearly budgeting in the fall and typically have lay-offs before January so they can avoid paying out bonuses. I have no benefits coming upon retirement as I have not been at the company long enough. Medical insurance is basically the reason I stay.
I am a business analyst, but more technical than others in my group. They do not appreciate me because I am introverted and geeky, but I am the key to getting to their data. And there is a lot wrong with their data. They tried to hire a “backup” for me a month ago who dazzled them with words, but they didn’t realize he was just a BSer. He’s no longer with the company for some reason unknown to all of us.
I can’t wait much longer, but am willing to stick with it until January so I can receive the bonus, which we heard will be much smaller this year as financial conditions have worsened. What’s the best strategy timing-wise and financial-wise to leave this job and retire?