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Joined: Jan 2001
Posts: 14,338
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2001
Posts: 14,338 |
Everyone I've ever worked with or known has done just that. Either them or their spouse seriously ill or dying within months. Most was needlessly... kids all grown, homes paid for, no real bills. Just waited too long.
Phil
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Joined: Apr 2011
Posts: 152,223 Likes: 35
Campfire Savant
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Campfire Savant
Joined: Apr 2011
Posts: 152,223 Likes: 35 |
My state pension will cause my SS to take a 468.00 a month hit because of the WEP. I’ll still get 1200.00 SS. That’s better than nothing. I would much rather have the state pension even if it is going to cause me to be subject to the WEP penalty. My pension will me more than twice max SS at age 66.
Last edited by hanco; 03/04/20.
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Joined: Apr 2011
Posts: 152,223 Likes: 35
Campfire Savant
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Campfire Savant
Joined: Apr 2011
Posts: 152,223 Likes: 35 |
I was looking at my retirement options. As it is I could retire at 65. I was thinking that even if I did retire I would get a job of some kind. At 66 and 10 months I can draw Social Security and what I make will not be counted against it. Once I retire that social security will be wiped out by WEP.
So I was thinking I defiantly want out of custody. I was thinking I would go to the maintenance department. Lower pay, but the SS would more than make up for that. The WEP penalty is 468.00 or no more than half of your SS, so they won’t take it all.
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Joined: May 2003
Posts: 23,082 Likes: 10
Campfire Ranger
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Campfire Ranger
Joined: May 2003
Posts: 23,082 Likes: 10 |
OrangeOakie: I retired at age 50 and only wish I had retired when I first could have (age 46!). I have been on warp speed (enjoying retirement to the max!) for almost 23 years now and still gettin after it. My advice to anyone who can retire - DO SO, as soon as possible! Hold into the wind VarmintGuy
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Joined: Jul 2006
Posts: 3,950 Likes: 1
Campfire Tracker
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Campfire Tracker
Joined: Jul 2006
Posts: 3,950 Likes: 1 |
I retired at 50 to manage and liquidate my fathers estate , took three years to go through all his holdings . I have work as a consultant as much as I want to , but don't miss it at all .
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Joined: Nov 2005
Posts: 7,514 Likes: 1
Campfire Outfitter
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Campfire Outfitter
Joined: Nov 2005
Posts: 7,514 Likes: 1 |
I retired in 96 at age 46. Never regretted it. I taught college for a few years but gave that up once the excitement faded. For 20 years I've hunted, crappie fished, traveled, and played with grandkids. Would've changed a thing. For me, retiring young was my best decision. However, that may not work for some. Ymmv.
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Joined: Jan 2019
Posts: 275
Campfire Member
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Campfire Member
Joined: Jan 2019
Posts: 275 |
Wife retired at 51 I quit working full time at 50. After 31 years of working on heavy equipment the old body was telling me to get out or be a cripple. Now I contract as a pilot/ escort car for big loads and am enjoying that, have driven all the highways in the state from end to end several times but the scenery here never gets old. 63 now and enjoying life.
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Joined: Jan 2009
Posts: 23,319
Campfire Ranger
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OP
Campfire Ranger
Joined: Jan 2009
Posts: 23,319 |
It doesn't take "age" to retire. It just takes "money."
"All that the South has ever desired was that the Union, as established by our forefathers, should be preserved, and that the government, as originally organized, should be administered in purity and truth." – Robert E. Lee
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Joined: Nov 2005
Posts: 10,285 Likes: 1
Campfire Outfitter
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Campfire Outfitter
Joined: Nov 2005
Posts: 10,285 Likes: 1 |
I was looking at my retirement options. As it is I could retire at 65. I was thinking that even if I did retire I would get a job of some kind. At 66 and 10 months I can draw Social Security and what I make will not be counted against it. Once I retire that social security will be wiped out by WEP.
So I was thinking I defiantly want out of custody. I was thinking I would go to the maintenance department. Lower pay, but the SS would more than make up for that. The WEP penalty is 468.00 or no more than half of your SS, so they won’t take it all. It reads: "For roughly the first $10,000 in average annual earnings, the WEP reduces the replacement rate from 90 percent to as low as 40 percent, depending on years of coverage under Social Security; however, the reduction cannot exceed 50 percent of the amount of the pension received from noncovered employment." 50% of my state pension will far exceed my social security.
The older I become the more I am convinced that the voice of honor in a man's heart is the voice of GOD.
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Joined: Jan 2016
Posts: 96,038 Likes: 19
Campfire Oracle
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Campfire Oracle
Joined: Jan 2016
Posts: 96,038 Likes: 19 |
I’m still working at 67, I’m gonna make another year and a half. Wifey is ten years younger than me, I’m hoping she can hang it up at 62. I’ll probably die the day after I retire. Why, it's like being on vacation every day. Its wonderful.
Ecc 10:2 The heart of the wise inclines to the right, but that of a fool to the left.
A Nation which leaves God behind is soon left behind.
"The Lord never asked anyone to be a tax collector, lowyer, or Redskins fan".
I Dindo Nuffin
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Joined: Jan 2002
Posts: 12,889 Likes: 5
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2002
Posts: 12,889 Likes: 5 |
The restriction to travel while working is that vacations are at the discretion of most employers, when retired you can travel when you want for as long as you want. I’ll not argue that time off while employed takes more deliberation and effort than when retired, but I will argue that many, if not most, people will not take significant unpaid time off. Either because they are ensnared by a mountain off debt, or by some personal or cultural belief that there’s something wrong with taking time off. In most jobs and businesses, there’s a slack time where you wouldn’t be missed for a week here or there.
Sic Semper Tyrannis
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Joined: Jan 2016
Posts: 96,038 Likes: 19
Campfire Oracle
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Campfire Oracle
Joined: Jan 2016
Posts: 96,038 Likes: 19 |
I retired in 96 at age 46. Never regretted it. I taught college for a few years but gave that up once the excitement faded. For 20 years I've hunted, crappie fished, traveled, and played with grandkids. Would've changed a thing. For me, retiring young was my best decision. However, that may not work for some. Ymmv. So, where have you been catching those crappie?,
Ecc 10:2 The heart of the wise inclines to the right, but that of a fool to the left.
A Nation which leaves God behind is soon left behind.
"The Lord never asked anyone to be a tax collector, lowyer, or Redskins fan".
I Dindo Nuffin
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Joined: Jun 2006
Posts: 16,428 Likes: 1
Campfire Ranger
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Campfire Ranger
Joined: Jun 2006
Posts: 16,428 Likes: 1 |
If I formally retired - I figure ""The Warden" would plant a 38 wadcutter in my forehead after about a week. (I can be a pest, I've been told) I thoroughly enjoy what I do, however - especially at the ranch.
I've always been a curmudgeon - now I'm an old curmudgeon. ~Molɔ̀ːn Labé Skýla~
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Joined: Feb 2010
Posts: 3,676
Campfire Tracker
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Campfire Tracker
Joined: Feb 2010
Posts: 3,676 |
Retired at 73. I loved my work. At 80 I no longer consider going back. Living on SS and a modest retirement income. 80, no meds, 55 years married, big grin.
BE STRONG IN THE LORD, AND IN HIS MIGHTY POWER. ~ Ephesians 6:10
Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery. --Winston Churchill
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Joined: Mar 2013
Posts: 27,091
Campfire Ranger
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Campfire Ranger
Joined: Mar 2013
Posts: 27,091 |
Force medical retirement @60 and broke. Not too bad though.
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Joined: Sep 2006
Posts: 6,698
Campfire Tracker
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Campfire Tracker
Joined: Sep 2006
Posts: 6,698 |
My wife thought she would work until 70 years old and live to be 100. Wrong! She died of breast cancer in 2011. Age 55. I was able to get Social Security at age 60. Luckily my house was paid for and no debt. Not quite what we had when she was working but you adapt. Neither of us had life insurance or a pension. I may never make it to Alaska to a Brown Bear hunt but I did shoot barren ground caribou. Maybe I could hunt some feral pigs? whelennut
I like to do my hunting BEFORE I pull the trigger! There is only one kind of dead, but there are many different kinds of wounded.
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Joined: Feb 2005
Posts: 4,436
Campfire Tracker
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Campfire Tracker
Joined: Feb 2005
Posts: 4,436 |
No meds at 80? A marriage of 55 years? Loved your work? You are a blessed man. My father in law is 87, on no meds. Married 70 years in Sept. Retired at 73. I loved my work. At 80 I no longer consider going back. Living on SS and a modest retirement income. 80, no meds, 55 years married, big grin.
"Those that think they know everything are annoying those of us that have Google." - Dr. D. Edward Wilkinson
Note to self: Never ask an old Fogey how he is doing today. Revised note to self: Keep it short when someone asks how I am doing.
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Joined: Jan 2009
Posts: 2,067
Campfire Regular
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Campfire Regular
Joined: Jan 2009
Posts: 2,067 |
Four more winters and I’m done. Hoping I can physically do four more. I measure years by winters, brutal 4 months doing what I do. Will put me right at 58. Should be fine financially using what we’ve saved in 401’s, 457’s, Roth’s, and IRA’s.
My plan was to be gone at 55. Ambitious plan with 3 kids. College and weddings and the unexpected expenses they bring going to cost me a couple more years.
No plans after though I know I’ll be into something. Not working will take awhile getting use to.
Rob
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Joined: Mar 2010
Posts: 5,519 Likes: 1
Campfire Tracker
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Campfire Tracker
Joined: Mar 2010
Posts: 5,519 Likes: 1 |
I was gonna be retired 6 weeks before my 48th birthday. Was............
Then the fuggin gangster's union went and bankrupted our region's retirement plan amidst the best economy in anyone's memory........... So, retirement ?? Never. Burn in hell, Teamster pension managers..............
Wollen nicht krank dein feind. Planen es.
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Joined: Apr 2011
Posts: 152,223 Likes: 35
Campfire Savant
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Campfire Savant
Joined: Apr 2011
Posts: 152,223 Likes: 35 |
I was gonna be retired 6 weeks before my 48th birthday. Was............
Then the fuggin gangster's union went and bankrupted our region's retirement plan amidst the best economy in anyone's memory........... So, retirement ?? Never. Burn in hell, Teamster pension managers.............. That is sorry
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