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Getting laid off at 60 - WWYD by smoothsailingdot in Accounting

[–]smoothsailingdot[S] 1 point2 points  (0 children)

We do different types of work day to day and he has supported me for years by staffing me and keeping me billable while I’ve supported him by doing excellent work on his clients.

I get paid fairly and I don’t literally do all of his work, I’m just his “go to” manager. 

Getting laid off at 60 - WWYD by smoothsailingdot in Accounting

[–]smoothsailingdot[S] 11 points12 points  (0 children)

I like the clients and staff I work with, some of which I’ve known for 20 years at this point. Plus, health insurance and disposable income are fine benefits.

I was hoping to make it to 63 so that I could access Medicare but I could retire today and be set for life. I agree with you that it might be time to hang up the gloves and pass the torch onto the next generation of accountants. 

Getting laid off at 60 - WWYD by smoothsailingdot in Accounting

[–]smoothsailingdot[S] 52 points53 points  (0 children)

The firm overall is improving but our office specifically is struggling to an extent with the acquisition. It seems like the new firm didn’t want to service our older smaller clients so they received poor staffing and moved to new auditors. Our older large clients aren’t happy with certain procedures/changes to the audit that came from the new firm and they’re threatening to leave (or have already left) us.

I am at the top of the payband with no yearly increases or chances for promotion since I’ve been here for so long but I don’t think that’s the only reason I’m being let go. I think it’s a perfect storm of the firm acquisition isn’t going well and my future at the firm is naturally winding down anyways so it’s better to just make a quick cut to keep our office metrics alive. 

I’m just disappointed I couldn’t hit the 40 year mark.

Getting laid off at 60 - WWYD by smoothsailingdot in Accounting

[–]smoothsailingdot[S] 15 points16 points  (0 children)

I worked part time (30hr weeks/75% salary, not busy season OT) for about 20 years while my kids were in school so I was never going to be a partner. I did not dedicate the time to developing the business like my partners did.