I will be retiring in the near future younger than i hoped

52. , $1.4 401k , house paid, three kids still to go to college. I don't feel comfortable at all !

 

2 more kids in the pool. I pooped today.

 

Constipated? Go for a fourth. Don't think about it so much. I pooped today.

 

Maybe he/she does not want to reveal the exact number of kids. Might allow some to figure out who he/she is.

 

Was that at the Florida Meeting? Who was the weirdo trying to make everyone eat Krispy Creme doughnuts? What a weird meeting.

 

WIth the announcement of the new consolidated corp structure, Pfizer will have the biggest downsizing in corp history.

The Plan is to consolidate specialty and primary care. The only divisions not effected is Oncology and Vaccines. All other specialties that are 1 product divisions will be merged by March 2015. (MS, ENDO, AI, Hemophilia, Inflammation will merge together)-- MS doesnt have a product in Dec, AI products will move to generic/establish division, Hemo doesnt make any money, and the Xeljanz inflammation division is way under performing for a blockbuster drug status and need to move Wyeth reps out and upgrade talent.

Primary Care will move all products to a contract sales force model given PC doctors decision to prescribe products is payer base, not rep or product itself. This CSO model will deliver the same results given reps have little impact with results in the PC market, at the same time save the company multi millions from salary (pc cso reps avg 35-40k yr--so $100million a yr savings just in salary) as well as from not paying Obama healthcare costs, and retirement costs. A select few pfizer PC specialty reps will be placed to call only on therapeutic specialty physicians. (bottom line Pfizer like most companies are getting out of the primary care product business in the US and turning to more of a biotech/specialty product company where more profit exists-- every earnings report those products loose money and the RD pipeline doesnt have true PC products; its all specialty products.)

As a shareholder these moves will boost the stock price as profits will increase with massive operations expenses reduces while supporting resources to drive core products with the greatest profit margins. For employees it is going to be a massive change, but for those who stay it will be very rewarding with the stock price soaring--- and that's the CEO job is to increase stock price. THis is the model that will do it.

 

AND 95% OF PFIZER SALES FORCE DOES NOT HAVE A PLAN "B". Good Luck

 

Plan B should be going to one of the big CSO companies and hitting up the plethora of ex-Pfizer people for a job PRONTO!

 

I have officially retired from Pfizer at 46. No plans on working in Pharma in the future or anywhere else. Good luck

 

You are most fortunate at that young age that you could retire. Good for you.

 

So, bottom line, are you happy now? And what does your life look like in 30 years? Still as happy w/o any family? When I was a teenager I worked in a nursing home. The saddest, most pathetic patients were those who spent endless days just sitting and watching the others who had family come to spend time with them, take them out, etc. Will your endless trips and all your toys be enough then?

 

To the idiot that wrote they are going to move Wyeth reps out and replace them with pfizer you know nothing about the biologic RA market place. in an attempt to save money pfizer has placed 3 cso reps in a the biggest market in the country. Guess what happened the company ended up losing more money and scripts. the more turnover the worse access gets, the more difficult it is to sell the product. Then if pfizer restructures again it gives a horrible impression. KOL begin to think the product is flawed and market share doesn't increase.

xeljanz is 24 grand a year a couple of patients pay salaries for the year. companies are short sighted. this is not the primary care market place. Patients benefit from an oral alternative

 

Unfortunately they probably wont live long enough to end up in a nursing home.

 

"Unfortunately" they won't live long enough to be in a nursing home? Think about what you are saying. Some of us don't consider that to be "quality of life".

 

There are also many elderly people who had kids and never see them when they are older. These kids are "working", "too busy", live across the country, got transferred, or for any other reason. Enjoy your life and if you can retire early and golf or travel or do what you want to do without being bothered with a schedule so be it. Just because one has kids does not guarantee a thing; I have seen it repeatedly.

 

I would rather be 46, single and retired than 65, married and working. Happiness to me is fun, my own schedule, no suit, no boss, and no family. I am sure 90% of the Pfizer reps who read this can't relate. That's fine. Retiring 20 years before most and having money to live a good life is most important to me. Although I know longer work for Pfizer I love to read Cafepharma. The Hell of Monday mornings and the medical staffs that demand a certain type of lunch became the reason I needed to move on and have some satisfaction with my life. When I disliked what I was doing on a daily basis, it was not good for me or Pfizer. I have no regrets about leaving Pfizer or not having a family

 

I am 46 with 22 years. I have 625K in 401K and about 200K in other assets. I also feel that the days of pharma reps are disappearing, maybe 3-5 years? if I can squeak by to 50 this should push my total assets to $1M and at the very least offer assurance that when I turn 65 I should be good. The real issue, what do to between ages 50 and 65? (sigh) 15 years is a long time.

 

I think you should be excited for the years after 50. There are so many opportunities. Have fun, start a business, etc. You have 4 years to set the plans in motion and be ready to go once you turn 50.

It took me 11 years to put the plan B in motion and once in place I felt comfortable to leave. Unless you have car, house, kids eduction in place, make sure 1 million is enough.

 

I agree with Mr. Sunshine here. Start now (late 40's?) and buy 1 or 2 potential income producing rental properties. Prices are good and the demand for rental homes is strong in many areas. You have time to study local markets and to get advice from others (many MD's have rentals and will give you advice, legal forms etc.) during the day except on field ride days. Believe me, the peace of mind from other income lessens the anxiety about getting RIF'd and even though it isn't easy, it beats sitting around waiting for them to do something with you. I am past the point of doing another territory analysis and Pfizer business plan for the rest of 2013. What is that gonna get you?

 

I bought 33 properties during my time with Pfizer. Managing these properties is much better than feeding the office staff