Dolan Smart Money Move: To make sure you're getting the sweetest deal possible, be prepared to negotiate. Find out what others in your industry with your level of experience have received. In addition to money, try to get extended health insurance benefits and a longer period to exercise your stock options—until the company gets back on its feet, perhaps. The bigger the company and the more eager the company is to reduce the staff, the better position you are in to strike some bargains.

Another must: Get all figures IN WRITING!

An early-retirement offer can truly provide you with a springboard to a better retirement. You can use your lump-sum payout to finance your own business, or to give your retirement nest egg an added cushion.

Unless you make a killing on the package, or on the sale of your house or another property that has greatly appreciated, you will probably have to continue seeking work. But with a decent-sized package you may be able to do something you've always wanted to do—perhaps work part-time, or for a nonprofit organization whose goals you support, or start a business, or even go back to school and master a new field.

Time for a Second Career?

Truth be told, whether you take early retirement or not, most people who have enjoyed successful careers get bored with a retirement that's all play and no work.

Sure, you probably don't want to be the oldest living burger-flipper - unless you have a plan to write a book about the experience - but there are many other options. Make a list of all the jobs you wish you'd had and then look for opportunities to do them!

Here are some suggestions we've heard from listeners to our radio show:

• Take a temporary or permanent part-time job in the same career field.
• Do bookkeeping or accounting work for one or two small businesses.
• Teach at a high school or community college.
• Work part-time or telecommute from home with your current employer.
• Help people with disabilities.
• Take up garden design and landscaping.
• Start writing columns for local papers.
• Become an aerobics instructor.
• Become an adventure tour leader.
• Create your own business.

We even heard about a 90-year-old retiree who developed a new system to teach music to kids. It's never too late!

Check out our answers to your retirement questions:

• When Should I Take Social Security?
• How do I Transition into Retirement?
• Should I Take Out a 401k Loan?

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