I really feel for those who came in during their early 20's, and had like 28 years in, a few years too short to get offered a buyout, and were very close to their ERA. I really hope those 28 years wouldn't really go to waste. I don't know what's worst, that, or having 30 years in, but not being able to afford to retire, or afford to live off the buyout. I may have a buddy in that situation. He already told me after the housing collapse of 2008, that he'd have to work until he drops. I think he has about three years left on his mortgage. I have another buddy who's a federal contractor...he rents out an apartment. He watched one of the supervisors on the government side clean his office out last week, after been immediately terminated. These are times when it's good to have a spouse who can carry the weight for a few months. Or if you're single with no dependents, it's much easier for you to relocate, downsize, or both.
I notice the media been focusing more on the 75,000 workers who jumped on the buyout. But they're not reporting much on the ones who weren't prepared to take the buyout. Like what if you're like my buddy, who still have a few years left on the mortgage.
This is what I probably would have done, especially if I was offered a buyout, and had no dependants: If I couldn't afford a new house in the South, I would have gotten one of those ADUs, hopefully in the DMV area, and called it a day. I know they don't appreciate much, but when that one gets old, I'd just get another one. Many retirees are doing that anyway these days, especially older female retirees, since housing has become so unaffordable. I know they won't be leaving their children with much, but hopefully, they never wound up in that situation themselves. If they do, then they can do the same thing they're doing, until they can afford the house they want.
I would never want to see anybody else forced to leave their job like me, and have to relocate, then get hit with something similar to 2008, when they suddenly stopped hiring, without knowing if they'll have a guaranteed retirement. When I went through this, I was way too young for any kind of buyout, and I didn't have the years.