Redundancy- Am I mad?

Going off the info provided I'd stay put. If it's just the work is "boring" it happens to many of us there's other ways to excite yourself, train in your free time, hobbies etc.

Be different story if you hated the place or were depressed there. The main thing especially when you said you'll never match the salary and benefits.

Is the wife working? Many kids? You've 250k left on the house and you've other loans you say. How would you manage with the mortgage and day to day bills? You said the guts of 200k but it's for other loans and to keep you going retaining

Torture working in a job that you've lost all interest in.

Your 40. Not 90. You can do whatever you put your mind to.

At early 40 you are young enough to make a fresh start in a new company at the same role (or a different role).

Take the money!

The Brother (married with two children at the time) took a package somewhat along those lines when he was about that same age. Did an MBA over the following two years and walked into a new job with better T&Cs at the end of it.

A close friend I've known since primary passed up the offer of a similar package, again at about the same age, because he didn't want to live with the insecurity. The company folded some time later anyway, so he ended up on the dole with a loss less, had to take what he could get afterwards and is now trudging towards retirement on 50% of what he was earning previously.

Take the money and start making plans for a new future.

Take the money and run early 40s is still young. Great deal.

I took the deal at 50 ,good decision but it will only be a benefit if you can find paying work reasonably quickly after you leave,I did and the comfort of a big payout is a nice security blanket but work is still a grind albeit I am nearly done now.

Take money and find a new job.

250k on house at 40 is alot of debt .. with a salary of over 90 k. You're either banana's or haven't a clue about the housing market horse.

Also fairly pointed comment at the OP there about floating into the job he has. Bit rude.

You say the redundancy is "coming up". It sounds like you'd have time to be sussing out other opportunities, or even have one lined up, before your current place puts any offer on your plate.

Do some interviews in your own time and see how you get on. Say nothing to the current shower.

It's not madness.

But be careful with timing, once you hit 49.5 there will be a good bit of "computer says no" to hiring a late-career-stage person. This can be got around with good relationships (which may come from your study, if you choose well) or good luck.

(Yeah, this is illegal. But no company will ever admit to it - and these days some don't even know what algorithms their hiring software is using to find people who are energetic / enthusiastic / however else they describe their company values.)

Assuming you have some savings now that could pay off some of the debts you mention? If you don't, then you can also ad loan interest sajinv onto the 200k. Also a few online banks now offering 4% interest...

OP is still going to have to earn something somewhere somehow. €200K sounds a lot but you'd burn a good hole in that fairly quick these days. Money just ain't worth what it used to be :(

He was quoting text from the post which first brought up the level of debt as being high..

@listermint actually saying it's not a lot of debt.

Easy to be confused due to the format of the post.

Did he not say he's on 90k a year?

Possibly more difficult, but currently there is such a shortage of competent staff, that hiring Managers are attracted to mature people with a career history.

My current role bring me into contact with many industries through out Ireland, for most if not all hiring staff and retaining them is their main challenge.

So you mean he is getting 4.5 years of net salary?

Did he say it was tax free? You can get some redundancy money tax free I think, but there are caps.