No. of Recommendations: 1
Howie, I took a buyout package in '96 and found my financial situation was just on the cusp. It was the middle of the dot com boom. My plan was to do enough consulting part time to cover my living expenses and let my investments grow for a while.

I looked into various options including a university position. Eventually I signed with Kelly Scientific. They had an opening and I held out for my retirement salary--well above their usual scale. But hiring company was willing to pay it (for access to the particular experience I had). So I went to work. Originally it was a 6 mo assignment, but got extended to a year and then became permanent. Through this I collected severance pay. So I was an aggressive saver and grew assets quickly. Finally in 2000 my assets hit double what I thought I needed to retire. So I retired. (This job also gave me access to the internet and Motley Fool where I polished my retirement calculations.)

My package included an outplacement service, which I used to contact previous co-workers looking for openings. I also considered a university position. They would move me. The job would be as a post doc helping beginning students while lead faculty was out of town consulting and looking for funding. It sounded fun, but job security depended on grants and budgets. Moving was expensive. A temp job without moving was ideal.

People tell you quitting cold turkey can be hard. Temping is a nice way to transition slowly. Especially if you find something locally without having to move. (I had a 1 hr commute each way to my temp job, but that was easy compared to $30K moving costs.) You are a new kid on the block without seniority. As a temp, bottom of the totem pole on every list. Great personalities can fit right in, but it can be tough. So it gives you time to see what is working for you, how your feel abt what you are doing, and plan accordingly. It can make for some extra bucks in the till and a smooth transition.
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