Next Steps After Losing Chain Retail Position? 2020

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Retail People!

Whats the plan, since apparently new grads are taking 45 or less?!

I personally like the idea of opening an independent. Just myself and 1 driver/tech. Don't quite know how much profit though.

Take a year off-travel, find good low rent location, good wholesaler terms, build business up, and profit or sell for half million to 1 million.

 

[mentos]

You sure like to make polls man.

 

[Sine Cura]

If I get laid off I'm collecting state unemployment insurance and coronabucks

 

[rickyroxy]

I voted for completely retire. Or may be, may be just floating part time at the chain I am at @70 /hour. Just float around. Do bare minimum to keep job. Don't bother that they will blame it on floater anyway but enjoy no responsibilities. Work on my terms and schedule. Take vacations since I will be debt free in 5 years. I am sure good floaters will be in demand forever to cover vacations and emergencies. Only people I need to be in good terms with is schedulers in mine and surrounding districts to keep payroll going.

 

[pezdispenser]

I'll retire and live off my investments. They are already making more than my RPh salary. Paid off my mortgage five years ago so my expenses are low, around 24k/yr. I've been doing some prn jobs for years to get my foot in the door in case I get laid off so I may just pick up a few shifts here and there until I get tired of it. One of the jobs got a new PIC that I hated working with so I just stopped picking up shifts until they terminated me. I think this is why they say you need to have 'FU money'.

 

[PharmtoCS]

I would choose Break into hospital/Amcare/Pharma/Managed Care but it's only a matter of time before the sinking ship of retail + COVID drag these areas of pharmacy down.

 

[sfachine]

The option of finding another equivalent or better job is no longer an option.The only power you now have is money in the bank.It is a great feeling to have that you can walk away from your job and not worry financially.Good for you.

 

[Gombrich12]

I'm done with pharmacy once they drop the axe on my head. To be honest its not worth it now at 60/h. I've made enough money where the extra dollars I see coming in aren't doing anything to change my quality of life. A chill government job making $50k a year for 15 years until I can retire sounds pretty good.

 

[mentos]

I also bet big on NIO. I invested 10% of my cash reserve in NIO. If it goes to the moon, I am done.

What's your average share price?

 

[WVUPharm2007]

It would hit you like a truck, so I'd probably take lower pay at first. Then sell my house and take the equity to buy cash in a low cost of living area with crappy schools. Something super cheap with low taxes. Something like this. Owning a house pretty much changes everything. Without housing costs, I can pretty much survive off of nothing. I'll need property taxes/insurance, utilities, internet, phone, I'll pirate my entertainment, food, Obamacare would subsidize my healthcare. I could legit live off of $1000/mo. Hell, my wife has trigeminal neuralgia. She could legitimately get disability. Throw some food stamps and free healthcare for her in there, too.

Screw it, with a fat 401k that will likely mature to something around $2 mil by age 65 with just what I've got in there now, I'd just get a low paying job that I'd like. Work at a mini golf course or something.

 

[APN-59 rph]

It would hit you like a truck, so I'd probably take lower pay at first. Then sell my house and take the equity to buy cash in a low cost of living area with crappy schools. Something super cheap with low taxes. Something like this. Owning a house pretty much changes everything. Without housing costs, I can pretty much survive off of nothing. I'll need property taxes/insurance, utilities, internet, phone, I'll pirate my entertainment, food, Obamacare would subsidize my healthcare. I could legit live off of $1000/mo. Hell, my wife has trigeminal neuralgia. She could legitimately get disability. Throw some food stamps and free healthcare for her in there, too.

Screw it, with a fat 401k that will likely mature to something around $2 mil by age 65 with just what I've got in there now, I'd just get a low paying job that I'd like. Work at a mini golf course or something.

What's left of my mind is running in that direction too...Already have some woodland in the sticks..but it's getting interesting because a lot of these big city peeps are starting to realize that if there is good interweb available..they don't need to report to an office..so land is going up....We shall see as winter crashes in again.. and they realize that the nearest fire truck or deputy or ambulance could be 1/2 hr away..

 

[NorthTexasPharmacist]

I would choose Break into hospital/Amcare/Pharma/Managed Care but it's only a matter of time before the sinking ship of retail + COVID drag these areas of pharmacy down.

I haven't worked in a hospital in a while but from what I'm hearing, ship for hospital has started sinking even before retail. Apparently, reimbursement issues at hospital pharmacy is alot worse than retail.

I say buy an existing pharmacy. A good one may cost you about $700k+ but you would only need about 5-10% down to buy it. You could probably pay it off in about 10-15 years. If you're doing about 150-200 scripts a day on average and you could slowly increase your volume, you may be banking soon. Add compounding, you're golden even though without it, you would still be profiting close to $200k a year if you're the PIC running it.

 

[Swishers]

I would take the pay cut and continue working retail. But I think the pharmacists at the insane CVS and Walgreens stores deserve the $65+/hr if the horror stories are half-true. In that situation, I would definitely try to switch from prn to full time at my hospital job.

 

[lord999]

I don't think about this as I have enough to retire at current expenses and never run out at this moment. I'm not going to retire, because I'm on that hedonic treadmill where compared to what many of you do, my life is a lot less drama. My funemployment job would be to try solving some cold case government mysteries if I go back to IG and given the unlimited scope endorsement again. There's one involving a physician that fascinates me due to knowing some of the people involved in my own work and the murder of one of them while I was in the building at the same time and the resulting (botched) cover-up. I'm not interested in truth or justice, but the reasons on why were such lengths taken when the murderer could have done the simple solution and do it outside a federal building in a dangerous city on a relatively oblivious guy.

 

[Sine Cura]

I'm not interested in truth or justice

Same. These things are so mundane

 

[APN-59 rph]

I don't think about this as I have enough to retire at current expenses and never run out at this moment. I'm not going to retire, because I'm on that hedonic treadmill where compared to what many of you do, my life is a lot less drama. My funemployment job would be to try solving some cold case government mysteries if I go back to IG and given the unlimited scope endorsement again. There's one involving a physician that fascinates me due to knowing some of the people involved in my own work and the murder of one of them while I was in the building at the same time and the resulting (botched) cover-up. I'm not interested in truth or justice, but the reasons on why were such lengths taken when the murderer could have done the simple solution and do it outside a federal building in a dangerous city on a relatively oblivious guy.

Soooo..you were in the building at the same time.......tell me about it....we are all pals here...